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PBF Energy cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$1.8B in Q3 2026 · $2.6B over twelve months

Operating cash flow$1.9B
Capital spending−$118M
Free cash flow+$1.8B
Cash / net income1.2×

Analysis

In Q3 2026, PBF Energy generated $1.9B of operating cash flow and spent $118M on capital projects, leaving free cash flow of $1.8B. That is $1.9B more than in Q3 2025 (−$123M).

Over the twelve months to Sep 30, 2026, operating cash flow was $3.5B; the largest uses were capital spending ($884M), net borrowing (+) / repaid (−) ($362M), other financing ($229M); besides operations, cash came from other investing ($156M); the cash balance rose by $2.1B.

Operating cash flow was $1.9B against net income of $1.5B — 1.2× profit, cash ran ahead of reported earnings. The largest differences: accrued liabilities +$642M, inventory −$321M, receivables −$232M.

Free cash flow

PBF Energy: free cash flow by quarterPBF Energy: free cash flow by quarter−$426MQ4 2024−$772MQ1 2025$35.0MQ2 2025−$123MQ3 2025$77.0MQ4 2025−$673MQ1 2026$1.5BQ2 2026$1.8BQ3 2026
Operating cash flow less capital spending.
PBF Energy: operating cash flow against capital spendingPBF Energy: operating cash flow against capital spendingOperating cash flowCapital spending−$330M$96.0MQ4 2024−$661M$111MQ1 2025$191M$156MQ2 2025$25.7M$148MQ3 2025$367M$290MQ4 2025−$324M$349MQ1 2026$1.6B$127MQ2 2026$1.9B$118MQ3 2026
Latest (Q3 2026): Operating cash flow $1.9B, Capital spending $118M.

Capital allocation, year by year

PBF Energy: where the cash came from (up) and went (down), by fiscal yearPBF Energy: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow $477MFY2021: Net borrowing −$35.6MFY2021: Asset sales $7.2MFY2021: Capital spending −$249M$484MFY2021FY2022: Operating cash flow $4.8BFY2022: Net borrowing −$22.6MFY2022: Capital spending −$633MFY2022: Buybacks −$156MFY2022: Dividends −$24.7M$4.8BFY2022FY2023: Operating cash flow $1.3BFY2023: Net borrowing −$1.2BFY2023: Asset sales $4.4MFY2023: Capital spending −$660MFY2023: Buybacks −$532MFY2023: Dividends −$106M$1.3BFY2023FY2024: Operating cash flow $43.4MFY2024: Net borrowing $188MFY2024: Capital spending −$391MFY2024: Buybacks −$329MFY2024: Dividends −$119M$231MFY2024FY2025: Operating cash flow −$78.0MFY2025: Net borrowing −$111MFY2025: Asset sales $170MFY2025: Capital spending −$705MFY2025: Dividends −$126M$170MFY2025
Over these 5 years operating cash flow totalled $6.6B; the largest uses were capital spending ($2.6B) and net borrowing ($1.4B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$2.5B
Debt$2.1B
Net cash$426M
Due within a year$20.7M

PBF Energy funds itself: free cash flow was $2.6B over the last twelve months, and $2.5B of cash and investments stands against $2.1B of debt ($20.7M due within a year, 122.9× covered by cash).

PBF Energy: debt maturities by year (FY2025)PBF Energy: debt maturities by year (FY2025)$902MYear 3$1.3BYear 5
Principal due in each year as disclosed in the annual report, against $2.5B of cash and investments now.

Where the cash came from and went

PBF Energy: sources (+) and uses (−) of cash, Q3 2026PBF Energy: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$1.9BCash drawn (+) / kept (−)−$1.7BCapital spending−$118MOther investing−$83.3MDividends−$32.7MOther financing$10.0MNet borrowing (+) / repaid (−)−$3.1M
PBF Energy: sources (+) and uses (−) of cash, TTM to Q3 2026PBF Energy: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$3.5BCash drawn (+) / kept (−)−$2.1BCapital spending−$884MNet borrowing (+) / repaid (−)−$362MOther financing−$229MOther investing$156MDividends−$128M

From profit to cash

PBF Energy: net income to operating cash flow, Q3 2026PBF Energy: net income to operating cash flow, Q3 2026Net income$1.5BDepreciation & amortization$175MStock-based pay$7.8MDeferred taxes$125MGains on disposals$700KReceivables−$232MInventory−$321MPayables−$20.1MAccrued liabilities$642MDeferred revenue$10.7MPrepaid and other assets$4.2MOther operating capital−$28.1MOperating cash flow$1.9B
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$1.9B−$118M—−$32.7M−$3.1M−$1.7B$1.8B
Q2 2026$1.6B−$127M—−$32.0M−$753M−$352M$1.5B
Q1 2026−$324M−$349M—−$31.7M$647M−$13.9M−$673M
Q4 2025$367M−$290M—−$31.6M−$253M−$45.9M$77.0M
Q3 2025$25.7M−$148M—−$31.4M−$2.7M$109M−$123M
Q2 2025$191M−$156M—−$31.3M$147M−$122M$35.0M
Q1 2025−$661M−$111M—−$31.3M$786M$67.5M−$772M
Q4 2024−$330M−$96.0M−$29.0M−$31.4M$197M$441M−$426M

PBF Energy: income statement and cash flow

PBF Energy, Q3 2026: revenue $12.1B (+59% year over year), operating margin 17.3%. The chart follows the revenue to costs, profit and cash.

PBF Energy: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.