PBF Energy Inc (PBF) financial statements: income statement, balance sheet and cash flow

PBF Energy Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), PBF Energy Inc reported revenue of $29.3B (-11.4% year on year) and net income of ($160.5M) (+70.3% year on year).

Income statement

PBF Energy Inc income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Revenues	$29.3B	$33.1B	$38.3B	$46.8B
Cost of products and other	$26.6B	$30.3B	$32.7B	$39.0B
Operating expenses (excluding depreciation and amortization expense as reflected below)	$2.6B	$2.6B	$2.7B	$2.6B
Depreciation and amortization expense	$630.3M	$614.6M	$560.0M	$503.6M
Cost of sales	$29.9B	$33.5B	$35.9B	$42.2B
General and administrative expenses (excluding depreciation and amortization expense as reflected below)	$332.3M	$260.4M	$362.5M	$468.7M
Gain on insurance recoveries, net	($832.5M)	—	—	—
Depreciation and amortization expense	$14.4M	$13.2M	$11.5M	$7.5M
Change in fair value of contingent consideration, net	$0	($3.3M)	($45.8M)	$48.3M
Equity loss in investee	$62.2M	$47.4M	$45.3M	—
Loss (gain) on formation of SBR equity method investment	$0	$8.7M	($925.1M)	—
(Gain) loss on sale of assets	($93.1M)	—	($1.3M)	—
Total cost and expenses	$29.4B	$33.8B	$35.4B	$42.7B
Income (loss) from operations	($54.3M)	($699.0M)	$3.0B	$4.2B
Interest expense (net of interest income of $24.3, $51.2, and $75.0, respectively)	($181.6M)	($72.0M)	($63.8M)	($246.0M)
Change in Tax Receivable Agreement liability	$0	$0	$2.0M	($290.3M)
Change in fair value of catalyst obligations	$0	$0	$1.1M	($2.0M)
Loss on extinguishment of debt	$0	$0	($5.7M)	($66.1M)
Other non-service components of net periodic benefit cost	$1.3M	$2.4M	$700.0K	$8.8M
Income (loss) before income taxes	($234.6M)	($768.6M)	$2.9B	$3.6B
Income tax (benefit) expense	($74.1M)	($228.4M)	$723.8M	$584.8M
Net income (loss)	($160.5M)	($540.2M)	$2.2B	$3.0B
Less: net income (loss) attributable to noncontrolling interests	($2.0M)	($6.4M)	$21.5M	$96.0M
Net income (loss) attributable to PBF Energy Inc. stockholders	($158.5M)	($533.8M)	$2.1B	$2.9B
Basic (in shares)	114.1M	116.2M	125.0M	122.6M
Diluted (in shares)	114.9M	117.1M	130.5M	126.9M
Basic (in usd per share)	-$1.39	-$4.59	$17.13	$23.47
Diluted (in usd per share)	-$1.39	-$4.60	$16.52	$22.84

PBF Energy Inc income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Revenues	$11.7B	$7.9B	$7.7B	$7.5B
Cost of products and other	$9.7B	$6.8B	$6.8B	$6.7B
Operating expenses (excluding depreciation and amortization expense as reflected below)	$670.1M	$688.9M	$613.5M	$631.7M
Depreciation and amortization expense	$159.5M	$155.0M	$159.1M	$157.9M
Cost of sales	$10.5B	$7.6B	$7.6B	$7.5B
General and administrative expenses (excluding depreciation and amortization expense as reflected below)	$148.6M	$89.6M	$74.0M	$80.3M
Depreciation and amortization expense	$3.6M	$3.8M	$3.6M	$3.6M
Gain on insurance recoveries, net	($250.0M)	($106.5M)	($250.0M)	($189.0M)
Equity (income) loss in investee	($27.5M)	($8.3M)	$19.7M	$4.3M
(Gain) loss on sale of assets	$0	$300.0K	($94.0M)	($200.0K)
Total cost and expenses	$10.4B	$7.6B	$7.4B	$7.4B
Income (loss) from operations	$1.3B	$299.6M	$285.9M	$43.0M
Interest expense (net of interest income of $8.0, $4.1, $11.5 and $8.6, respectively)	($42.0M)	($42.1M)	($50.3M)	($53.8M)
Loss on extinguishment of debt	($2.2M)	—	—	—
Other non-service components of net periodic benefit cost	$1.3M	$1.0M	$400.0K	$300.0K
Income (loss) before income taxes	$1.2B	$258.5M	$236.0M	($10.5M)
Income tax expense (benefit)	$314.2M	$58.3M	$64.3M	($5.1M)
Net income (loss)	$915.0M	$200.2M	$171.7M	($5.4M)
Less: net income (loss) attributable to noncontrolling interest	$8.6M	$1.9M	$1.6M	($200.0K)
Net income (loss) attributable to PBF Energy Inc. stockholders	$906.4M	$198.3M	$170.1M	($5.2M)
Basic (in shares)	118.4M	117.2M	115.7M	113.9M
Diluted (in shares)	121.1M	120.6M	118.0M	114.7M
Basic (in dollars per share)	$7.66	$1.69	$1.47	-$0.05
Diluted (in dollars per share)	$7.54	$1.65	$1.45	-$0.05

Balance sheet

PBF Energy Inc balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$527.9M	$536.1M	$1.8B	$2.2B
Accounts receivable	$1.2B	$1.2B	$1.4B	$1.5B
Inventories	$2.6B	$2.6B	$3.2B	$2.8B
Prepaid and other current assets	$194.1M	$247.5M	$267.5M	$122.8M
Total current assets	$4.5B	$4.5B	$6.6B	$6.5B
Property, plant and equipment (net of accumulated depreciation of $2,393.1 and $2,165.6, respectively)	$5.5B	$5.1B	$5.0B	$5.4B
Equity method investment in SBR	$826.3M	$866.8M	$881.0M	—
Lease right of use assets	$759.7M	$845.3M	$789.1M	$679.1M
Deferred charges and other assets, net	$1.5B	$1.4B	$1.1B	$962.7M
Total assets	$13.0B	$12.7B	$14.4B	$13.5B
Accounts payable	$801.2M	$735.6M	$959.0M	$854.6M
Accrued expenses	$2.7B	$2.5B	$3.0B	$3.7B
Payable pursuant to Tax Receivable Agreement	$0	$125.4M	$43.0M	—
Deferred revenue	$20.8M	$43.8M	$64.1M	$40.6M
Current operating lease liabilities	$184.4M	$187.8M	$131.2M	$60.5M
Total current liabilities	$3.7B	$3.6B	$4.2B	$5.2B
Long-term debt	$2.1B	$1.5B	$1.2B	$1.4B
Payable pursuant to Tax Receivable Agreement	$168.2M	$168.2M	$293.6M	$338.6M
Deferred tax liabilities	$763.6M	$836.0M	$1.1B	$535.4M
Long-term operating lease liabilities	$543.0M	$622.2M	$608.8M	$552.7M
Long-term financing lease liabilities	$25.8M	$35.4M	$46.1M	$57.9M
Other long-term liabilities	$251.8M	$279.4M	$271.5M	$372.9M
Total liabilities	$7.6B	$7.0B	$7.8B	$8.5B
Common Stock, Shares, Issued	116.9M	—	—	—
Common stock, value, issued	$100.0K	$100.0K	$100.0K	$100.0K
Preferred stock, $0.001 par value, 100,000,000 shares authorized, no shares outstanding at December 31, 2025 and December 31, 2024	0	0	0	0
Treasury stock, at cost, 32,042,692 shares outstanding at December 31, 2025 and 31,479,723 shares outstanding at December 31, 2024	-1.2B	-1.2B	-868.2M	-327.0M
Additional paid in capital	$3.4B	$3.3B	$3.3B	$3.2B
Retained earnings	$3.1B	$3.4B	$4.1B	$2.1B
Accumulated other comprehensive income (loss)	$9.8M	($8.0M)	($12.3M)	($1.5M)
Total PBF Energy Inc. equity	$5.3B	$5.5B	$6.5B	$4.9B
Noncontrolling interest	$130.4M	$134.4M	$143.0M	$126.8M
Total equity	$5.4B	$5.7B	$6.6B	$5.1B
Total liabilities and equity	$13.0B	$12.7B	$14.4B	$13.5B

PBF Energy Inc balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents	$894.1M	$541.8M	$482.0M	$590.7M
Accounts receivable	$1.8B	$1.9B	$1.4B	$1.1B
Inventories	$2.9B	$3.1B	$2.7B	$2.8B
Prepaid and other current assets	$205.2M	$274.4M	$209.5M	$280.1M
Total current assets	$5.8B	$5.8B	$4.8B	$4.8B
Property, plant, and equipment (net of accumulated depreciation of $2,528.5 and $2,393.1, respectively)	$5.7B	$5.7B	$5.2B	$5.1B
Equity method investment in SBR	$859.6M	$833.4M	$823.3M	$843.9M
Lease right of use assets	$763.8M	$796.9M	$771.5M	$802.1M
Deferred charges and other assets, net	$1.5B	$1.5B	$1.4B	$1.4B
Total assets	$14.7B	$14.7B	$13.0B	$13.0B
Accounts payable	$788.6M	$862.4M	$822.1M	$928.0M
Accrued expenses	$3.4B	$3.3B	$2.5B	$2.5B
Deferred revenue	$21.3M	$55.2M	$28.7M	$49.6M
Current operating lease liabilities	$175.3M	$199.0M	$173.9M	$189.3M
Total current liabilities	$4.4B	$4.4B	$3.5B	$3.6B
Long-term debt	$1.7B	$2.8B	$2.4B	$2.4B
Payable pursuant to Tax Receivable Agreement	$168.2M	$168.2M	$0	$0
Deferred tax liabilities	$1.0B	$821.5M	$752.0M	$688.2M
Long-term operating lease liabilities	$558.7M	$565.3M	$567.0M	$582.3M
Long-term financing lease liabilities	$19.3M	$22.6M	$26.8M	$29.7M
Other long-term liabilities	$253.4M	$249.4M	$271.1M	$273.9M
Total liabilities	$8.2B	$9.1B	$7.7B	$7.8B
Common stock, value, issued	$100.0K	$100.0K	$100.0K	$100.0K
Preferred stock, $0.001 par value, 100,000,000 shares authorized, no shares outstanding at June 30, 2026 and December 31, 2025	0	0	0	0
Treasury stock, at cost, 32,248,584 shares outstanding at June 30, 2026 and 32,042,692 shares outstanding at December 31, 2025	-1.2B	-1.2B	-1.2B	-1.2B
Additional paid in capital	$3.5B	$3.4B	$3.4B	$3.4B
Retained earnings	$4.2B	$3.3B	$3.1B	$3.0B
Accumulated other comprehensive income	$11.0M	$9.9M	($6.5M)	($7.0M)
Total PBF Energy Inc. equity	$6.4B	$5.5B	$5.2B	$5.1B
Noncontrolling interest	$138.4M	$132.1M	$131.0M	$129.7M
Total equity	$6.5B	$5.7B	$5.4B	$5.2B
Total liabilities and equity	$14.7B	$14.7B	$13.0B	$13.0B

Cash flow statement

PBF Energy Inc cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income (loss)	($160.5M)	($540.2M)	$2.2B	$3.0B
Depreciation and amortization	$662.8M	$643.0M	$591.6M	$533.9M
Stock-based compensation expense	$39.0M	$44.3M	$51.5M	$54.3M
Change in fair value of catalyst obligations	$0	$0	($1.1M)	$2.0M
Deferred income taxes	($77.9M)	($239.2M)	$537.0M	$420.2M
Change in Tax Receivable Agreement liability	$0	$0	($2.0M)	$290.3M
Non-cash lower of cost or market inventory adjustment	$313.0M	—	$0	$0
Change in fair value of contingent consideration, net	$0	($3.3M)	($45.8M)	$48.3M
Loss on extinguishment of debt	$0	$0	$5.7M	$66.1M
Pension and other post-retirement benefit costs	$52.6M	$51.9M	$47.9M	$47.6M
Gain on insurance recoveries, net	($832.5M)	—	—	—
Insurance proceeds	$360.6M	—	—	—
Loss from equity method investment	$62.2M	$47.4M	$45.3M	—
Loss (gain) on formation of SBR equity method investment	$0	$8.7M	($925.1M)	—
(Gain) loss on sale of assets	($93.1M)	$400.0K	($1.3M)	$900.0K
Accounts receivable	($1.7M)	$197.5M	$93.8M	($178.8M)
Inventories	($280.8M)	$587.9M	($409.0M)	($258.5M)
Prepaid and other current assets	$53.5M	$19.9M	($102.0M)	($5.4M)
Accounts payable	$3.5M	($196.7M)	$124.7M	($95.7M)
Accrued expenses	$24.1M	($475.9M)	($743.5M)	$881.0M
Deferred revenue	($23.0M)	($20.3M)	$23.5M	($2.1M)
Payment related to Tax Receivable Agreement	($125.4M)	($44.8M)	—	—
Other assets and liabilities	($54.4M)	($37.2M)	($114.7M)	$500.0K
Net cash (used in) provided by operating activities	($78.0M)	$43.4M	$1.3B	$4.8B
Expenditures for property, plant and equipment	($705.2M)	($390.9M)	($659.6M)	($633.3M)
Expenditures for deferred turnaround costs	($379.5M)	($576.7M)	($473.5M)	($311.6M)
Expenditures for other assets	($77.1M)	($40.7M)	($40.5M)	($66.0M)
Equity method investment - contribution	($25.0M)	($35.0M)	($15.4M)	—
Equity method investment - return of capital	$3.4M	$1.8M	$846.0M	—
Proceeds from sale of assets	$170.3M	$0	$4.4M	$0
Insurance proceeds	$532.9M	—	—	—
Net cash used in investing activities	($480.2M)	($1.0B)	($338.6M)	($1.0B)
Dividend payments	($125.6M)	($119.0M)	($105.8M)	($24.7M)
Distributions to PBF Energy Company LLC members other than PBF Energy	($900.0K)	($1.6M)	($5.3M)	($8.6M)
Proceeds from issuance of long-term debt	$788.5M	$0	$496.6M	$0
Redemption of 2025 7.25% Senior Notes	$0	$0	($666.2M)	($1.3B)
Proceeds from revolver borrowings	$3.2B	$200.0M	$0	$400.0M
Repayments of revolver borrowings	($3.3B)	$0	$0	($1.4B)
Redemption of PBFX 2023 Senior Notes	$0	$0	($525.0M)	—
Settlements of precious metal catalyst obligations	$0	$0	($3.1M)	($56.2M)
Payments on financing leases	($11.2M)	($12.2M)	($14.1M)	($11.3M)
Proceeds from insurance premium financing	$115.6M	$123.2M	$13.0M	$2.1M
Payments of insurance premium financing	($106.6M)	($111.9M)	—	—
Transactions in connection with stock-based compensation plans, net	$2.9M	$1.4M	$38.3M	$67.8M
Payments of contingent consideration	$0	$0	($80.1M)	($3.1M)

PBF Energy Inc cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income (loss)	$1.1B	$200.2M	($239.6M)	($411.3M)
Depreciation and amortization	$331.3M	$163.5M	$508.9M	$341.5M
Stock-based compensation expense	$17.4M	$8.4M	$29.8M	$21.4M
Deferred income taxes	$276.9M	$57.9M	($84.0M)	($147.8M)
Non-cash lower of cost or market inventory adjustment	($313.0M)	($313.0M)	—	—
Loss on extinguishment of debt	$2.2M	—	—	—
Pension and other post-retirement benefit costs	$26.8M	$13.5M	$39.4M	$26.2M
Gain on insurance recoveries, net	($356.5M)	($106.5M)	($439.0M)	($189.0M)
Insurance proceeds	$111.3M	—	$118.0M	$118.0M
(Income) loss from equity method investment	($35.8M)	($8.3M)	$41.0M	$21.3M
Loss (gain) on sale of assets	$300.0K	$300.0K	($94.2M)	($200.0K)
Accounts receivable	($672.5M)	($770.3M)	$38.1M	$39.9M
Inventories	($17.8M)	($202.2M)	($147.4M)	($174.6M)
Prepaid and other current assets	($11.2M)	($80.4M)	$38.0M	($32.7M)
Accounts payable	$46.7M	$85.8M	$64.0M	$194.1M
Accrued expenses	$766.4M	$614.0M	($125.8M)	($126.7M)
Deferred revenue	$500.0K	$34.4M	($15.1M)	$5.8M
Payment related to Tax Receivable Agreement	$0	$0	($125.4M)	($125.4M)
Other assets and liabilities	($23.1M)	($21.0M)	($51.3M)	($30.8M)
Net cash provided by (used in) operating activities	$1.3B	($323.7M)	($444.6M)	($470.3M)
Expenditures for property, plant, and equipment	($476.5M)	($349.4M)	($415.6M)	($267.1M)
Expenditures for deferred turnaround costs	($242.4M)	($136.9M)	($296.6M)	($198.1M)
Expenditures for other assets	($34.9M)	($23.2M)	($52.0M)	($39.8M)
Equity method investment - return of capital	$2.5M	$1.2M	$2.5M	$1.7M
Insurance proceeds	$245.2M	$106.5M	$132.0M	$132.0M
Net cash used in investing activities	($506.1M)	($401.8M)	($459.4M)	($371.3M)
Dividend payments	($63.7M)	($31.7M)	($94.0M)	($62.6M)
Distributions to PBF Energy Company LLC members other than PBF Energy	($2.5M)	($200.0K)	($700.0K)	($500.0K)
Proceeds from senior notes	$500.0M	$0	$788.5M	$788.5M
Repayments of long-term debt	($801.6M)	—	—	—
Proceeds from revolver borrowings	$1.1B	$900.0M	$3.1B	$2.4B
Repayments of revolver borrowings	($1.2B)	($250.0M)	($2.9B)	($2.2B)
Payments on financing leases	($6.0M)	($3.0M)	($8.4M)	($5.7M)
Proceeds from insurance premium financing	$141.8M	$141.8M	$99.4M	$100.7M
Payments of insurance premium financing	($84.3M)	($45.3M)	($69.1M)	($56.8M)
Transactions in connection with stock-based compensation plans, net	$31.4M	$27.8M	($3.1M)	($4.7M)
Deferred financing costs and other, net	($7.9M)	$0	($12.7M)	($12.7M)
Net cash (used in) provided by financing activities	($392.8M)	$739.4M	$849.9M	$896.2M
Net change in cash and cash equivalents	$366.2M	$13.9M	($54.1M)	$54.6M
Cash and cash equivalents, beginning of period	$527.9M	$527.9M	$536.1M	$536.1M
Cash and cash equivalents, end of period	$894.1M	$541.8M	$482.0M	$590.7M
Accrued and unpaid capital expenditures	$71.6M	$141.5M	$120.9M	$77.2M
Assets acquired or remeasured under operating and financing leases	$164.0M	$131.6M	$107.4M	$79.3M
Interest (net of capitalized interest of $31.4 and $11.5 in 2026 and 2025, respectively)	$90.9M	$75.9M	$150.1M	$60.6M
Income taxes	$4.4M	$100.0K	$3.1M	$2.4M

PBF Energy Inc score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.