PBF Energy Inc. — Earnings Quality Grade F
PBF · Energy
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 15 days, change +2 days YoY
AR growth 0.1% vs revenue growth -11.4%
Revenue -11.4%, CFFO -279.7%. Cash follows revenue
Expense Quality
Inventory -1.2% vs COGS -10.7%. Normal
CapEx growth 80.4% is >2x revenue growth -11.4%
SG&A/Gross Profit = -58.2%, excellent (<30%)
Gross margin -1.9%, change -0.8pp. Stable
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
FCF is negative ($-0.8B)
Accruals ratio = -0.6%. Low accruals
Cash $0.5B covers only 18% of debt $2.9B
Balance Sheet Health
No goodwill. Clean balance sheet
Debt/EBITDA = 4.6x (>4x). Interest coverage = -4.5x (<2x). Financial stress
Other assets 14.8% vs revenue -11.4%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 2/3 years
No goodwill
Manipulation Score
M-Score = -2.83 (< -2.22). Unlikely manipulator
Portfolio monitoring
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Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25