$PBF Energy (PBF.US)$Revenue has fluctuated significantly ov...

逍遥投资派 commented on a stock · Jan 19, 2023 23:00

$PBF Energy (PBF.US)$Over the past 5 years, revenue has fluctuated significantly, increasing from 21.8 billion to 27.2 billion before declining to 15.1 billion, and finally recovering to a peak of 27.3 billion. Operating profit has generally fluctuated downward, decreasing from 0.73 billion to 0.63 billion. In 2020, there was a loss of 1.89 billion, turning cumulative profits into a loss over the past 4 years. The trend of net income is similar to that of operating profit, with a loss of 1.33 billion in 2020.

In the first three quarters of 2022, revenue surged by 89%, operating profit increased ninefold to 3.33 billion, and net income also increased to 2.24 billion.

The current pe ratio is 20.9, and the trailing pe ratio has dropped to 2.1.

The current profit level is an exceptional situation, likely related to the recent Russia-Ukraine war. If the net income increases proportionally to 3 billion for the whole year, then the average net income over the past 5 years would be 0.5 billion, corresponding to a pe ratio of 11. If the war ends in the next year or two and Russian oil returns to the commodity market, based on the highest net income of 0.48 billion in 2017, the corresponding pe ratio would be 11.5.

For cyclical industries, the ideal pe ratio should be below 8, which is currently not very attractive for the time being.

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