PBF Energy Inc
Buy, Hold or Sell?

Let's analyse PBF Energy Inc together

Penke I guess you are interested in PBF Energy Inc. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

I'm going to help you getting a better view of PBF Energy Inc. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

You can find me behind Let's Analyse Together in the top-right of each section.

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Quick analysis of PBF Energy Inc (30 sec.)

What can you expect buying and holding a share of PBF Energy Inc? (30 sec.)

How much money do you get?

$0.84

When do you have the money?

1 year

How often do you get paid?

100.0%

What is your share worth?

Current worth

$54.80

Expected worth in 1 year

$71.33

How sure are you?

77.5%

+ What do you gain per year?

Total Gains per Share

$17.37

Return On Investment

30.1%

For what price can you sell your share?

Current Price per Share

$57.78

Expected price per share

$52.84 - $62.88

How sure are you?

50%

1. Valuation of PBF Energy Inc (5 min.)

Live pricePrice per Share (EOD)

$57.78

Book Value per Share

$54.80

Intrinsic Value Per Share

$58.81 - $159.73

Total Value Per Share

$113.62 - $214.54

My calculation of the intrinsic value of PBF Energy Inc is based how much money is coming from the company's main activities (Free Cash Flow).

The following numbers are based on moving averages and per share and per quarter.
I use a 6% discount rate for the low estimation and 3% for the high estimation.
The current Free Cash Flow Per Share is 10Y: ($1.23) 3Y: ($3.32) TTM: ($1.35)
The change per quarter (trend) of the Free Cash Flow Per Share is 10Y: ($0.04) 3Y: ($0.07) TTM: ($-1.21)

Years	Total Low est.	Total High est.	Added Free Cash Flow
1	$5.13	$13.70	$5.56 - $14.36
2	$10.54	$28.03	$6.18 - $15.43
3	$16.17	$42.92	$6.80 - $16.50
4	$21.99	$58.35	$7.42 - $17.58
5	$27.95	$74.27	$8.04 - $18.65
6	$34.02	$90.62	$8.66 - $19.72
7	$40.17	$107.38	$9.28 - $20.79
8	$46.37	$124.51	$9.90 - $21.86
9	$52.59	$141.97	$10.52 - $22.93
10	$58.81	$159.73	$11.14 - $24.01

2. Growth of PBF Energy Inc (5 min.)

Is PBF Energy Inc growing?

	Current year	Previous year	Grow	Grow %
How rich?	$6.6b	$4b	$2.1b	34.9%

How much money is PBF Energy Inc making?

	Current year	Previous year	Grow	Grow %
Making money	$535.1m	$723.6m	-$188.5m	-35.2%
Net Profit Margin	5.5%	5.7%	-	-

How much money comes from the company's main activities?

Quarterly Yearly

3. Financial Health of PBF Energy Inc (5 min.)

4. Comparing to competitors in the Oil & Gas Refining & Marketing industry (5 min.)

Industry Rankings (Oil & Gas Refining & Marketing)

Richest
#14 / 104

Most Revenue
#16 / 104

Most Profit
#8 / 104

Most Efficient
#27 / 104

What can you expect buying and holding a share of PBF Energy Inc? (5 min.)

Welcome investor! PBF Energy Inc's management wants to use your money to grow the business. In return you get a share of PBF Energy Inc.

What can you expect buying and holding a share of PBF Energy Inc?

First you should know what it really means to hold a share of PBF Energy Inc. And how you can make/lose money.

Speculation

The Price per Share of PBF Energy Inc is $57.78. The market price reflects what other people think it is worth; not what it's really worth. Your job is to find out if the market price is fair, overpriced, or underpriced. I will help you with that.

If you buy blind, there is a 50% chance of making or losing money by selling the stock in the future. However, we can look at a few things to determine the odds in our favor:

The fundamentals: the financial health trends of PBF Energy Inc.
The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
The book value: what is the market price compared to it's book value.

Investing

If you really want to invest in PBF Energy Inc, you will have to let go of the thought of selling in the future. If you have to sell the share for less than you bought it, it can still be a good investment. Focus on what it means to hold the stock forever:

You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is $54.80. Based on the TTM, the Book Value Change Per Share is $4.13 per quarter. Based on the YOY, the Book Value Change Per Share is $4.42 per quarter.
You may receive quarterly/yearly dividend in the form of additional shares.
You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is $0.21 per quarter.

Based on historical numbers we can estimate the returns while holding a share of PBF Energy Inc.

How much money are you going to get?

	MRQ		TTM		YOY		5Y		10Y
	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share
Usd Eps	-0.40	-0.7%	4.08	7.1%	5.64	9.8%	1.59	2.7%	0.97	1.7%
Usd Book Value Change Per Share	1.90	3.3%	4.13	7.2%	4.42	7.6%	1.38	2.4%	1.01	1.7%
Usd Dividend Per Share	0.25	0.4%	0.21	0.4%	0.14	0.2%	0.21	0.4%	0.29	0.5%
Usd Total Gains Per Share	2.15	3.7%	4.34	7.5%	4.56	7.9%	1.58	2.7%	1.30	2.2%
Usd Price Per Share	43.96	-	45.45	-	32.33	-	25.88	-	28.04	-
Price to Earnings Ratio	-27.47	-	-5.04	-	-7.71	-	-1.89	-	1.70	-
Price-to-Total Gains Ratio	20.49	-	18.64	-	135.29	-	40.80	-	23.04	-
Price to Book Ratio	0.80	-	0.95	-	1.03	-	0.82	-	1.17	-
Price-to-Total Gains Ratio	20.49	-	18.64	-	135.29	-	40.80	-	23.04	-

When do you get the money?

Usd Investment	$.00
Usd Price Per Share	57.78
Number of shares	17

Gains per Quarter	Trailing 12 Months	5 Year
Usd Dividend Per Share	0.21	0.21
Usd Book Value Change Per Share	4.13	1.38
Usd Total Gains Per Share	4.34	1.58
Gains per Quarter (17 shares)	73.83	26.94
Gains per Year (17 shares)	295.31	107.76

Years	Return on Investment (TTM)			Return on Investment (5Y)
	Dividend	Book Value gain	Total gains	Dividend	Book Value gain	Total gains
Broker costs	-	-	-10	-	-	-10
1	14	281	285	14	94	98
2	29	562	580	28	187	206
3	43	843	875	42	281	314
4	57	1124	1170	56	375	422
5	71	1405	1465	71	468	530
6	86	1686	1760	85	562	638
7	100	1967	2055	99	656	746
8	114	2248	2350	113	749	854
9	129	2529	2645	127	843	962
10	143	2810	2940	141	936	1070

How sure are you?

Based on the past periods, how sure are you to get value out of your investment.

Linear %

	Trailing 12 Months				3Y				5 Year				10 Year				ALLTIME
				%				%				%				%				%
Earnings Per Share	3.0	1.0	0.0	75.0%	9.0	3.0	0.0	75.0%	13.0	7.0	0.0	65.0%	27.0	13.0	0.0	67.5%	35.0	15.0	1.0	68.6%
Book Value Change Per Share	4.0	0.0	0.0	100.0%	10.0	2.0	0.0	83.3%	14.0	6.0	0.0	70.0%	29.0	11.0	0.0	72.5%	35.0	13.0	3.0	68.6%
Dividend per Share	4.0	0.0	0.0	100.0%	12.0	0.0	0.0	100.0%	20.0	0.0	0.0	100.0%	40.0	0.0	0.0	100.0%	47.0	0.0	4.0	92.2%
Total Gains per Share	4.0	0.0	0.0	100.0%	11.0	1.0	0.0	91.7%	16.0	4.0	0.0	80.0%	31.0	9.0	0.0	77.5%	39.0	10.0	2.0	76.5%

Fundamentals of PBF Energy Inc

About PBF Energy Inc

https://www.pbfenergy.com
Oil & Gas Refining & Marketing
3776
One Sylvan Way, Parsippany, NJ, United States, 07054
Google Maps Bing Maps

PBF Energy Inc., through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil. The company sells its products in Northeast, Midwest, Gulf Coast, and West Coast of the United States, as well as in other regions of the United States, Canada, Mexico, and internationally. It is also involved in the provision of various rail, truck, and marine terminaling services, as well as pipeline transportation and storage services. The company was founded in 2008 and is based in Parsippany, New Jersey.

Fundamental data was last updated by Penke on 2024-04-26 09:08:04.

Financial Health

Profitability Details

	Compared to previous year	Compared to industry
The company is making a profit.
Using its assets, the company is less efficient in making profit.
Using its investors money, the company is less efficient in making profit.

Operating Efficiency Details

	Compared to previous year	Compared to industry
The company is operating less efficient.
The company is less efficient in keeping operating costs low.

Liquidity Details

	Compared to previous year	Compared to industry
The company is just able to pay all its short-term debts.
The company is just not able to pay all its short-term debts with the most liquid assets.

Solvency Details

	Compared to previous year	Compared to industry
The company is able to pay all its debts by selling its assets.
The company is able to pay all its debts with equity.

Valuation

Valuation Details

	Compared to previous year	Compared to industry
Based on the equity, the company is cheap.
Based on the earnings, the company is expensive.
Based on how much money comes from the company's main activities, the company is cheap.

1.1. Profitability of PBF Energy Inc.

1.1. Profitability

1.1.1. Net Profit Margin

Measures how much net profit PBF Energy Inc earns for each $1 of revenue.

Above 10% is considered healthy but always compare PBF Energy Inc to the Oil & Gas Refining & Marketing industry mean.
A Net Profit Margin of -0.5% means that $-0.01 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of PBF Energy Inc:

The MRQ is -0.5%. The company is not making a profit/loss.
The TTM is 5.5%. The company is making a profit. +1

Trends

Current period		Compared to		+/-
MRQ	-0.5%	TTM	5.5%	-6.0%
TTM	5.5%	YOY	5.7%	-0.2%
TTM	5.5%	5Y	1.4%	+4.1%
5Y	1.4%	10Y	1.1%	+0.4%

Compared to industry (Oil & Gas Refining & Marketing)

Period	Company	Industry (mean)	+/-
MRQ	-0.5%	2.3%	-2.8%
TTM	5.5%	2.7%	+2.8%
YOY	5.7%	2.8%	+2.9%
5Y	1.4%	1.9%	-0.5%
10Y	1.1%	2.4%	-1.3%

Measures how much net profit PBF Energy Inc earns for each $1 of revenue.

Revenue is the amount of profit PBF Energy Inc generates before taxes and all other costs. For example, when you buy a cup of coffee it will cost you $3. The company does not earn $3 in profit but also has to pay various costs and taxes to create that cup of coffee. Let's assume the cost of creating a cup of coffee is $1.5.

The $3 you pay for a cup of coffee is called revenue.
The $1.5 that’s left over when all costs to create that cup of coffee (including taxes) are deduced from the revenue is called net profit.

The net profit margin looks at how much net profit PBF Energy Inc earns for each $1 in revenue.

How to use net profit margin

Higher profit margin is better (more profit).
Above 10% is considered healthy but always compare PBF Energy Inc to the Oil & Gas Refining & Marketing industry mean.
Can be used to compare companies within the Oil & Gas Refining & Marketing industry.

You typically want a high profit margin. This means that for each $1 in sales, PBF Energy Inc makes more profit. This shows the investor how efficiently PBF Energy Inc is operating in general and compared to other companies in the same industry. PBF Energy Inc operates in the Oil & Gas Refining & Marketing industry.

Why do investors use net profit margin in their analysis

It helps investors to determine the efficiency of PBF Energy Inc. If profit margins remain low (compared to the Oil & Gas Refining & Marketing industry mean) and there are no improvements to make in production costs or other areas that might be a warning sign. If profit margins are high that means the company has low overhead costs and is efficiently using its resources to generate profit.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Net Profit Margin of PBF Energy Inc is -0.01. This means that PBF Energy Inc earned $-0.01 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Net Profit Margin of the Oil & Gas Refining & Marketing industry is 2.3%.
What is the trend?
The trend is important because it shows you how PBF Energy Inc is performing over time. The most recent quarter might be important if PBF Energy Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for PBF Energy Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare PBF Energy Inc with other companies in the same industry (Oil & Gas Refining & Marketing).
Net profit margin should rise over the years.
Can be influenced when PBF Energy Inc sells assets (profit will increase while costs remain the same).
It won’t show what part of PBF Energy Inc is doing great or needs improvement (it only looks at total revenue and total net income).

How to calculate net profit margin

Net profit margin = net income / total revenue * 100%

Real example of PBF Energy Inc

You need the following data to determine net profit margin:

Income statement from the period you want to calculate (for example, MRQ or TTM).

Net income MRQ PBF Energy Inc = -48,400
Total revenue MRQ PBF Energy Inc = 9,138,700
$-48,400 / $9,138,700 = -0.01 or -0.5%

Higher is better

The higher the net profit margin, the more efficient the company is generating income. This helps investors to determine how the company is managing money. The net profit margin is an important indicator when diving into the financial health of a company. Overall, you want to see the net profit margin rising over the years. That means the company improved their production and made it more efficient (if possible).

You can use the net profit margin to compare companies within the same industry. If there are two companies where one is much bigger but the smaller one has a higher net profit margin, that means the smaller company is more efficiently using operational costs.

Important: Profit margins can be very different between industries. Companies with assembly lines or transports are much more prone to see shifting in prices for fuel, ingredients and maintenance compared to companies that only provide services. You should never compare net profit margin between different industries.

1.1.2. Return on Assets

Shows how efficient PBF Energy Inc is using its assets to generate profit.

Above 5% is considered healthy but always compare PBF Energy Inc to the Oil & Gas Refining & Marketing industry mean.
-0.3% Return on Assets means that PBF Energy Inc generated $0.00 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of PBF Energy Inc:

The MRQ is -0.3%. Using its assets, the company is very inefficient in making profit. -2
The TTM is 3.8%. Using its assets, the company is less efficient in making profit.

Trends

Current period		Compared to		+/-
MRQ	-0.3%	TTM	3.8%	-4.1%
TTM	3.8%	YOY	5.3%	-1.5%
TTM	3.8%	5Y	1.4%	+2.4%
5Y	1.4%	10Y	0.9%	+0.4%

Compared to industry (Oil & Gas Refining & Marketing)

Period	Company	Industry (mean)	+/-
MRQ	-0.3%	1.7%	-2.0%
TTM	3.8%	2.1%	+1.7%
YOY	5.3%	2.2%	+3.1%
5Y	1.4%	1.5%	-0.1%
10Y	0.9%	1.5%	-0.6%

Shows how efficient PBF Energy Inc is using its assets to generate profit.

For a farm, a tractor is considered an asset. The tractor helps ploughing the land making it possible to plant and harvest crops. But the tractor might be old and needing maintenance all the time reducing its efficiency. Return on assets indicates how effectively the farm is using the tractor (and other assets that help the core business) to plough the land.

How to use return on assets

Higher is better.
Above 5% is considered healthy but always compare PBF Energy Inc to the Oil & Gas Refining & Marketing industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on assets in their analysis

Shows the investor how effectively PBF Energy Inc is using its resources to generate profit. If the return on assets (-0.3%) from PBF Energy Inc are higher than the Oil & Gas Refining & Marketing mean (1.7%) that means PBF Energy Inc is using its resources better than their competitors. If not, that means their competitors are more efficient in using their resources to generate profit.

An investor should always look at:

What is the current return on assets?
The current most recent quarter (MRQ) Return on Assets of PBF Energy Inc is -0.3%. This means the company generated $0.00 for each $1 in assets.
How does it compare to the industry?
The mean MRQ Return on Assets of the Oil & Gas Refining & Marketing industry is 1.7%.
What is the trend?
The trend is important because it shows you how PBF Energy Inc is performing over time. The most recent quarter might be important if PBF Energy Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for PBF Energy Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
If a company has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

How to calculate return on assets

Return on assets = net income / total assets * 100%

Real example PBF Energy Inc

You need the following data to determine return on assets (ROA):

Income statement
Balance sheet

Net income MRQ (income statement) from PBF Energy Inc = -48,400
Total assets MRQ (balance sheet) from PBF Energy Inc = 15,032,600
-48,400 / 15,032,600 = 0.00 or -0.3%

ROA is an important ratio as it will tell you how effectively PBF Energy Inc is using its resources to generate profits. Example:

Bob and Kristin both sell ice cream in the summer. They both have an ice cream truck. The truck Bob owes cost him $20.000 and the truck Kristin owes cost her $1500. Over the summer, Bob earned $2000 and Kristin earned $200. To calculate the return on assets:

Bob: $2000 / $20.000 * 100% = 10%
Kristin: $200 / $1500 * 100% = 13.3%

This tells you Bob’s company is more valuable but Kristin's company is more efficient. Be aware that total assets can change over time. A transportation business will buy and sell trucks or planes all the time. Before using return on assets as a guideline, you have to know what the exact assets are. For a company that has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

1.1.3. Return on Equity

Shows how efficient PBF Energy Inc is using its investors money to generate profit.

Above 15%-20% is considered healthy but always compare PBF Energy Inc to the Oil & Gas Refining & Marketing industry mean.
-0.7% Return on Equity means PBF Energy Inc generated $-0.01 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of PBF Energy Inc:

The MRQ is -0.7%. Using its investors money, the company is very inefficient in making profit. -2
The TTM is 8.7%. Using its investors money, the company is less efficient in making profit.

Trends

Current period		Compared to		+/-
MRQ	-0.7%	TTM	8.7%	-9.5%
TTM	8.7%	YOY	18.9%	-10.2%
TTM	8.7%	5Y	2.9%	+5.8%
5Y	2.9%	10Y	2.3%	+0.6%

Compared to industry (Oil & Gas Refining & Marketing)

Period	Company	Industry (mean)	+/-
MRQ	-0.7%	4.1%	-4.8%
TTM	8.7%	4.8%	+3.9%
YOY	18.9%	5.7%	+13.2%
5Y	2.9%	3.2%	-0.3%
10Y	2.3%	3.9%	-1.6%

Shows how efficient PBF Energy Inc is using its investors money to generate profit.

A publicly traded company (any company that issues shares to the public) is owned by its shareholders. Return on equity calculates the amount of profit for every $1 the shareholders invested.

How to use return on equity

Higher is better.
Above 15%-20% is considered healthy but always compare PBF Energy Inc to the Oil & Gas Refining & Marketing industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on equity in their analysis

To find out the owners/management's attitude toward their company. You typically want the owners/management to invest in the company and focus on generating profit. If not enough profit is generated (compared to the Oil & Gas Refining & Marketing industry mean), the company might not be investing their money efficiently.

The three steps every investor should look at:

What is the current return on equity?
The current most recent quarter (MRQ) Return on Equity of PBF Energy Inc is -0.7%. This means PBF Energy Inc generated $-0.01 for each $1 the owners (shareholders) invested.
How does it compare to the industry?
The mean MRQ Return on Equity of the Oil & Gas Refining & Marketing industry is 4.1%.
What is the trend?
The trend is important because it shows you how PBF Energy Inc is performing over time. The most recent quarter might be important if PBF Energy Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for PBF Energy Inc up to 10 years back (depending if PBF Energy Inc existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Does not include intangible assets (non physical assets like licences, computer software, etc.).
Stockholders equity and shareholders equity refer to the same thing.
Liabilities should not be more than three times return on equity.

How to calculate return on equity

Return on equity = net profit / shareholders equity * 100%

Real example of PBF Energy Inc

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) PBF Energy Inc = -48,400
Shareholders equity (balance sheet) MRQ PBF Energy Inc = 6,488,300
-48,400 / 6,488,300 = -0.01 or -0.7%

A negative shareholder equity is a warning sign. It means the company has more liabilities than assets. It might also mean that the owners did not invest enough money or they are taking money out of the business.

1.2. Operating Efficiency of PBF Energy Inc.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient PBF Energy Inc is operating .

Measures how much profit PBF Energy Inc makes for each $1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
Above 15% is considered healthy but always compare PBF Energy Inc to the Oil & Gas Refining & Marketing industry mean.
An Operating Margin of -0.6% means the company generated $-0.01 for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of PBF Energy Inc:

The MRQ is -0.6%. The company is operating very inefficient. -2
The TTM is 7.4%. The company is operating less efficient.

Trends

Current period		Compared to		+/-
MRQ	-0.6%	TTM	7.4%	-8.0%
TTM	7.4%	YOY	8.2%	-0.8%
TTM	7.4%	5Y	2.7%	+4.7%
5Y	2.7%	10Y	2.5%	+0.2%

Compared to industry (Oil & Gas Refining & Marketing)

Period	Company	Industry (mean)	+/-
MRQ	-0.6%	4.0%	-4.6%
TTM	7.4%	2.9%	+4.5%
YOY	8.2%	4.7%	+3.5%
5Y	2.7%	3.1%	-0.4%
10Y	2.5%	2.8%	-0.3%

Measures how efficient PBF Energy Inc is operating .

The more effecient a company creates products or provides services, the more profit it generates.

How to use operating margin

Higher is better
Above 15% is considered healthy but always compare PBF Energy Inc to the Oil & Gas Refining & Marketing industry mean.
Can be very different between industries
Can be used to compare companies

Why do investors use operating margin in their analysis

To determine how much profit PBF Energy Inc is making from it’s core business.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Operating Margin of PBF Energy Inc is -0.6%. This means that PBF Energy Inc earned $-0.01 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Margin of the Oil & Gas Refining & Marketing industry is 4.0%.
What is the trend?
The trend is important because it shows you how PBF Energy Inc is performing over time. The most recent quarter might be important if PBF Energy Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for PBF Energy Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Can be calculated in different ways

How to calculate operating margin

Operating margin = operating earnings / total revenue

Real example of PBF Energy Inc

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ PBF Energy Inc = -53,300
Total revenue MRQ PBF Energy Inc = 9,138,700
$-53,300 / $9,138,700 = -0.01 or -0.6%

Operating margin is used to calculate how much profit a company makes after variable costs of production but before paying interest and taxes. Some variable costs examples are wages, raw materials, packaging, and transaction fees. The amount of variable costs is different for each company and industry. In general, a higher operating margin is better as this implicates that a company is running efficiently.

For investors, a higher operating margin is a good sign. Although you should always look at operating margin in the long term. If operating margin is fluctuating over the years this might be a sign that things are not running efficiently enough. It’s a way to check how much profit a company is making from its core business.

Operation earnings can be calculated in multiple ways:

Operation earnings = EBIT - non operating income + non operating expense
Operation earnings = Gross profit - operating expense - depreciation and amortisation
Operation earnings = Total revenue - COGS (costs of goods sold) - indirect costs

1.2.2. Operating Ratio

Measures how efficient PBF Energy Inc is keeping operating costs low.

Below 1 is considered healthy (always compare to Oil & Gas Refining & Marketing industry mean).
An Operation Ratio of 1.01 means that the operating costs are $1.01 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of PBF Energy Inc:

The MRQ is 1.006. The company is inefficient in keeping operating costs low. -1
The TTM is 0.963. The company is less efficient in keeping operating costs low.

Trends

Current period		Compared to		+/-
MRQ	1.006	TTM	0.963	+0.043
TTM	0.963	YOY	0.917	+0.046
TTM	0.963	5Y	0.985	-0.022
5Y	0.985	10Y	0.982	+0.003

Compared to industry (Oil & Gas Refining & Marketing)

Period	Company	Industry (mean)	+/-
MRQ	1.006	1.161	-0.155
TTM	0.963	1.232	-0.269
YOY	0.917	1.077	-0.160
5Y	0.985	1.096	-0.111
10Y	0.982	1.146	-0.164

Measures how efficient PBF Energy Inc is keeping operating costs low.

If the operating ratio is below 1 that means the company is making money. The lower the operating ratio, the more efficient the company.

How to use operating ratio

Lower is better.
Below 1 is considered healthy but always compare PBF Energy Inc to the Oil & Gas Refining & Marketing industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use operating ratio in their analysis

Shows if costs of creating products and or services is increasing or decreasing. The lower the operating ratio, the more efficient the company is creating products and services.

The three steps every investor should look at:

What is the current Operatin ratio?
The current most recent quarter (MRQ) Operating Ratio of PBF Energy Inc is 100.6%. This means that PBF Energy Inc earned $1.01 for each $1 in net sales in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Ratio of the Oil & Gas Refining & Marketing industry is 1.16.
What is the trend?
The trend is important because it shows you how PBF Energy Inc is performing over time. The most recent quarter might be important if PBF Energy Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for PBF Energy Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
You need COGS to calculate operating ratio which is not always shown in the income statement.
Does not consider debt.

How to calculate operating ratio

Operating ratio = Operating expenses + COGS \ Net sales

Real life example PBF Energy Inc

You need the following data to determine operating ratio:

Income statement

COGS is not always specified on the income statement. If so you can use the following calculation:

(cost of revenue + total operating expenses) \ total revenue
(9,086,600 +105,400) \ 9,138,700 = 1.01

The operating ratio measures the efficiency of a company at keeping low costs while generating profits from sales. It compares the total operating expenses to the net amount of sales. The total operating expenses exists of:

COGS (materials, labour, rent of facility, repairs)
Operating expenses (legal fees, marketing, wages, rent, maintenance/repairs)

Operating expenses are all the costs the company makes that are not directly tied to the production of the service or product. Where COGS are costs that are directly tied to the production of a product or service.

Do note that COGS is not always available in the income statement. Some companies include COGS in the operating expenses while others list COGS separately. To make it even more confusing, COGS is also known as “costs of sales” and costs of sales is the same as costs of revenue.

The operating ratio tells you how efficient the company is creating its products or services while keeping prices low. In this case, a lower ratio is better. Higher or rising operating ratios might tell you that costs are rising while sales are not improving or staying the same.

1.3. Liquidity of PBF Energy Inc.

1.3. Liquidity

1.3.1. Current Ratio

Measures if PBF Energy Inc is able to pay off Short-term Debt.

Above 1.5 is considered healthy (always compare to Oil & Gas Refining & Marketing industry mean).
A Current Ratio of 1.56 means the company has $1.56 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of PBF Energy Inc:

The MRQ is 1.564. The company is able to pay all its short-term debts. +1
The TTM is 1.470. The company is just able to pay all its short-term debts.

Trends

Current period		Compared to		+/-
MRQ	1.564	TTM	1.470	+0.094
TTM	1.470	YOY	1.202	+0.268
TTM	1.470	5Y	1.419	+0.051
5Y	1.419	10Y	1.544	-0.125

Compared to industry (Oil & Gas Refining & Marketing)

Period	Company	Industry (mean)	+/-
MRQ	1.564	1.425	+0.139
TTM	1.470	1.470	+0.000
YOY	1.202	1.357	-0.155
5Y	1.419	1.468	-0.049
10Y	1.544	1.519	+0.025

Measures if PBF Energy Inc is able to pay off Short-term Debt.

How to use current ratio

Higher is better
Above 1.5 is considered healthy (always compare to Oil & Gas Refining & Marketing industry mean).
Can be very different between industries
Can be used to compare companies

Why do investors use current ratio in their analysis

Shows if the company can pay of short term debts if needed. A company that can't pay off it's short term debts might get in trouble if they have to pay off their short term debts for whatever reason. For example, markets can change due to global events like covid-19 or the war in Ukraine versus Russia. Because debts are always taken based on future income, it might become troublesome for PBF Energy Inc if something happens in the market that will cause sales to plummet.

The three steps every investor should look at:

What is the current current Ratio?
The current most recent quarter (MRQ) Current Ratio of PBF Energy Inc is 1.56. This means PBF Energy Inc has $1.56 in assets for each $1 in short-term debts.
How does it compare to the industry?
The mean MRQ Current Ratio of the Oil & Gas Refining & Marketing industry is 1.43.
What is the trend?
The trend is important because it shows you how PBF Energy Inc is performing over time. The most recent quarter might be important if PBF Energy Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for PBF Energy Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Might be deluded.
Not all assets can always be quickly sold.
Can be manipulated by increasing or decreasing the assets and/or liabilities.

How to calculate current ratio

Current ratio = current assets \ current liabilities

Real life example PBF Energy Inc

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
6,596,600 \ 4,217,300) = 1.56

The current ratio measures if PBF Energy Inc is able to pay short-term debts (obligations). Short term in this context means all debt obligations that are about to expire within one year. The current ratio incorporates current liabilities and current assets. Current assets are all the assets a company has that are expected to be consumed or sold within standard business operations. You can find the current assets in the balance sheet. They consist of:

Inventory
Accounts receivable
Marketable securities
Prepaid expenses
Cash
Cash equivalents
liquid assets

The current liabilities are short term obligations that are due within one year. These consist of:

Short term debts
Dividends
Income taxes
Short-term debts
Accounts payable
Interest payments

The result shows an investor if PBF Energy Inc is able to pay all its short-term debts if they were due all at once. When the result of the above formula is below 1, then PBF Energy Inc does not have enough capital after selling all its assets to pay all short-term debts. If the ratio drops far below 1 that might indicate PBF Energy Inc is or will be in financial trouble anytime soon.

Although this gives an investor some clues, the current ratio may also be deluded. Because owning assets does not mean the company can easily sell them. Also, Accounts receivable may be quite old (they will probably never pay) which deludes the current ratio. As with all ratios, you should only compare them between the same industries and companies.

1.3.2. Quick Ratio

Measures if PBF Energy Inc is able to pay off Short-term Debt but only using the most liquid assets.

Above 1 is considered healthy but always compare PBF Energy Inc to the Oil & Gas Refining & Marketing industry mean.
A Quick Ratio of 0.75 means the company can pay off $0.75 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of PBF Energy Inc:

The MRQ is 0.746. The company is just not able to pay all its short-term debts with the most liquid assets. -1
The TTM is 0.704. The company is just not able to pay all its short-term debts with the most liquid assets. -1

Trends

Current period		Compared to		+/-
MRQ	0.746	TTM	0.704	+0.042
TTM	0.704	YOY	0.652	+0.053
TTM	0.704	5Y	0.675	+0.030
5Y	0.675	10Y	0.734	-0.059

Compared to industry (Oil & Gas Refining & Marketing)

Period	Company	Industry (mean)	+/-
MRQ	0.746	0.664	+0.082
TTM	0.704	0.708	-0.004
YOY	0.652	0.715	-0.063
5Y	0.675	0.773	-0.098
10Y	0.734	0.763	-0.029

Measures if PBF Energy Inc is able to pay off Short-term Debt but only using the most liquid assets.

How to use quick ratio

Higher is better.
Above 1 is considered healthy but always compare PBF Energy Inc to the Oil & Gas Refining & Marketing industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use quick ratio in their analysis

Shows how fast PBF Energy Inc can pay off its short term debts. This shows if PBF Energy Inc can survive emergencies due to market changes or other reasons.

The three steps every investor should look at:

What is the current Quick Ratio?
The current most recent quarter (MRQ) quickRatio of PBF Energy Inc is 0.75. This means that PBF Energy Inc can pay off $0.75 for each $1 in debt (using most liquid assets).
How does it compare to the industry?
The mean MRQ Quick Ratio of the Oil & Gas Refining & Marketing industry is 0.66.
What is the trend?
The trend is important because it shows you how PBF Energy Inc is performing over time. The most recent quarter might be important if PBF Energy Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for PBF Energy Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Incorporates only most liquid assets.

How to calculate quick ratio

Quick ratio = cash and equivalents + marketable securities + accounts receivable / current liabilities

Real life example PBF Energy Inc

You need the following data to determine operating ratio:

Balance sheet
Quick ratio = cash and short-term investments + short-term investments + netReceivables / total current liabilities
MRQ quick ratio PBF Energy Inc: (1,783,500 + 0 +1,362,500) / 4,217,300 = 0.75

The quick ratio measures the same thing as the current ratio, only it uses the most liquid assets a company has. Meaning, the assets that can be sold for cash the easiest and fastest.

As the quick ratio only incorporates the most liquid assets, you should also check the current ratio which also includes less liquid assets. But they may be harder to sell.

1.4. Solvency of PBF Energy Inc.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Measures how much % of PBF Energy Inc assets are financed with debt.

Below 1 (100%) is considered healthy but always compare PBF Energy Inc to Oil & Gas Refining & Marketing industry mean.
A Debt to Asset Ratio of 0.56 means that PBF Energy Inc assets are financed with 55.9% credit (debt) and the remaining percentage (100% - 55.9%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of PBF Energy Inc:

The MRQ is 0.559. The company is able to pay all its debts by selling its assets. +1
The TTM is 0.563. The company is able to pay all its debts by selling its assets. +1

Trends

Current period		Compared to		+/-
MRQ	0.559	TTM	0.563	-0.004
TTM	0.563	YOY	0.699	-0.136
TTM	0.563	5Y	0.683	-0.121
5Y	0.683	10Y	0.666	+0.017

Compared to industry (Oil & Gas Refining & Marketing)

Period	Company	Industry (mean)	+/-
MRQ	0.559	0.569	-0.010
TTM	0.563	0.576	-0.013
YOY	0.699	0.592	+0.107
5Y	0.683	0.592	+0.091
10Y	0.666	0.552	+0.114

Measures how much % of PBF Energy Inc assets are financed with debt.

When there are more debts than assets, that means creditors have a larger stake PBF Energy Inc than its shareholders.

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare PBF Energy Inc to Oil & Gas Refining & Marketing industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to asset ratio in their analysis

It shows how much debt the company used to finance its assets. If a company is almost entirely financed with debt that means the company might get into serious trouble when emergencies arise like a raise in interest.

The three steps every investor should look at:

What is the current debt to asset ratio?
The current most recent quarter (MRQ) Debt to Asset Ratio of PBF Energy Inc is 0.56. This means means that PBF Energy Inc is financed with 55.9% credit and the remaining percentage is financed by it's owners (shareholders).
How does it compare to the industry?
The mean MRQ Current Ratio of the Oil & Gas Refining & Marketing industry is 142.5%.
What is the trend?
The trend is important because it shows you how PBF Energy Inc is performing over time. The most recent quarter might be important if PBF Energy Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for PBF Energy Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Some companies can have higher debt to assets ratio's (for example, banks).
Debt to asset ratio should improve over the years.
If the debt to asset ratio is above 1, look at the industry mean and find out why PBF Energy Inc has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example PBF Energy Inc

You need the following data to determine debt to asset ratio:

Balance sheet
Debt to asset ratio = total debt \ total assets
8,401,300 \ 15,032,600 = 55.9% or 0.56.

The debt to total assets ratio shows if the company is owned by creditors or shareholders. Or in other words, the total debt in relation to the total amount of assets. It shows how much debt the company used to finance its assets.

1.4.2. Debt to Equity Ratio

Measures if PBF Energy Inc is able to pay off its debts by using shareholders equity.

Below 2 is considered healthy but always compare PBF Energy Inc to the Oil & Gas Refining & Marketing industry mean.
A Debt to Equity ratio of 129.5% means that company has $1.29 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of PBF Energy Inc:

The MRQ is 1.295. The company is able to pay all its debts with equity. +1
The TTM is 1.307. The company is able to pay all its debts with equity. +1

Trends

Current period		Compared to		+/-
MRQ	1.295	TTM	1.307	-0.012
TTM	1.307	YOY	3.092	-1.785
TTM	1.307	5Y	2.964	-1.656
5Y	2.964	10Y	2.492	+0.472

Compared to industry (Oil & Gas Refining & Marketing)

Period	Company	Industry (mean)	+/-
MRQ	1.295	1.387	-0.092
TTM	1.307	1.384	-0.077
YOY	3.092	1.491	+1.601
5Y	2.964	1.474	+1.490
10Y	2.492	1.403	+1.089

Measures if PBF Energy Inc is able to pay off its debts by using shareholders equity.

How to use debt to equity ratio

Lower is better.
Below 2 is considered healthy (always use industry average).
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to shareholders equity ratio in their analysis

It shows how much debt the company uses to finance their operations. Shareholders equity is whats left over when you subtract total liabilities from total assets. It's another way to meassure how much of PBF Energy Inc is financed with debt or own resources.

The three steps every investor should look at:

What is the current debt to equity ratio?
The current most recent quarter (MRQ) quickRatio of PBF Energy Inc is 1.29. This means that PBF Energy Inc can pay off $1.29 for each $1 in debt.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Oil & Gas Refining & Marketing industry is 1.39.
What is the trend?
The trend is important because it shows you how PBF Energy Inc is performing over time. The most recent quarter might be important if PBF Energy Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for PBF Energy Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Not all debt is equally risky (for example, short term risk is less risky).

How to calculate debt to equity ratio

Debt to equity ratio = total debt \ shareholders equity.

Real life example PBF Energy Inc

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
8,401,300 \ 6,488,300 = 1.29 or 129.5%

Debt to equity measures the total debt versus the total shareholders equity. While the total debts to total assets ratio uses total assets, the debt to equity ratio looks at the total equity of shareholders. Where equity of shareholders are:

Common shares.
Preferred shares.
Retained earnings.

You can find the shareholders' equity in the balance sheet. A ratio between 0,5 and 1,5 is preferred. If the ratio is above 1.5, that would indicate creditors have significantly more stake (debt) in the company than the shareholders. In other words, the company is using a lot of debt to finance their operations.

Not all debt is equally risky. Meaning you can adjust the ratio by including or excluding certain amounts of debt. Short term debts are less risky because they have to be paid back within one year anyway. It’s much easier to plan one year ahead versus five or ten years.

2. Market Valuation of PBF Energy Inc

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every $1 in earnings PBF Energy Inc generates.

Above 15 is considered overpriced but always compare PBF Energy Inc to the Oil & Gas Refining & Marketing industry mean.
A PE ratio of -27.47 means the investor is paying $-27.47 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of PBF Energy Inc:

The EOD is -36.112. Based on the earnings, the company is expensive. -2
The MRQ is -27.475. Based on the earnings, the company is expensive. -2
The TTM is -5.036. Based on the earnings, the company is expensive. -2

Trends

Current period		Compared to		+/-
EOD	-36.112	MRQ	-27.475	-8.637
MRQ	-27.475	TTM	-5.036	-22.439
TTM	-5.036	YOY	-7.706	+2.670
TTM	-5.036	5Y	-1.894	-3.142
5Y	-1.894	10Y	1.700	-3.594

Compared to industry (Oil & Gas Refining & Marketing)

Period	Company	Industry (mean)	+/-
EOD	-36.112	9.085	-45.197
MRQ	-27.475	8.539	-36.014
TTM	-5.036	6.559	-11.595
YOY	-7.706	8.224	-15.930
5Y	-1.894	9.558	-11.452
10Y	1.700	13.817	-12.117

Measures how much money you pay for each share for every $1 in earnings PBF Energy Inc generates.

Indicates if the company’s shares are under or overvalued.

How to use PE ratio

Above 15 is considered overpriced but is hard to determine. Always compare PBF Energy Inc to the Oil & Gas Refining & Marketing industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use PE ratio in their analysis

The PE ratio tells investors the current sentiment in the market for that company. As with every stock, the stock price never shows the real valuation of a company but rather how the market thinks how much the stock is worth.

In other words, the current stock price also incorporates any future earnings or business opportunities in the future. The best example is the stock market crash in 2000. The PE ratio for any internet based company was going through the roof. Only based on the general assumption the internet and all associated businesses would thrive in the future. But this was based on nothing. A business still needs a good product or service to be able to survive. Instead, every investor bought any stock which did something related to the internet. Result: huge market crash.

Many investors were willing to pay premium prices and that was causing the PE ratio to rise. A high PE ratio is a warning sign that investors might be overvaluing a stock based on future earnings.

The three steps every investor should look at:

What is the current PE Ratio?
The current most recent quarter (MRQ) PE Ratio of PBF Energy Inc is -27.47. This means the investor is paying $-27.47 for every $1 in earnings.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Oil & Gas Refining & Marketing industry is 8.54.
What is the trend?
The trend is important because it shows you how PBF Energy Inc is performing over time. The most recent quarter might be important if PBF Energy Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for PBF Energy Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Some industries might have very high or very low PE ratios in general.
PE ratios can be high for several years, it does not mean a sudden collapse is imminent.
Earnings growth is not included in the PE ratio.

How to calculate PE ratio

PE ratio = market value per share \ earnings per share

Real life example PBF Energy Inc

You need the following data to determine the PE ratio:

Balance sheet
Income statement

The PE ratio is a very commonly used ratio to determine the value of a company by comparing the current stock price relative to its earnings per share (EPS). Before we can calculate the PE ratio we need to know the EPS. EPS is calculated as follows:

EPS = (net profit - preferred dividends) \ end of period outstanding shares*
Net profit = revenue - expenses
0 \ 120,999 = EPS
PE ratio MRQ = -27.47

* The net profit minus preferred dividends can be found in the incomestatement as netIncomeApplicableToCommonShares.

The PE value helps investors to determine if the current stock price is under or overvalued. It also projects future growth.

In general, a higher PE ratio means that investors predict higher future growth. If the PE ratio is too high, then investors expect way too much future growth the company can never fulfil. This is most likely to happen in faster moving companies like tech companies or automobile companies like Tesla. These are hot and booming markets where investors expect much future growth driven by new technology (electric cars). When looking at the current MRQ (most recent quarter) PE ratio of Tesla ( jan. 2021) it's about 247 while the average in the industry is only 6. That might be a clue that Tesla is trading for way too high prices compared to their current assets and is more based on future growth.

2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of PBF Energy Inc:

The EOD is 7.934. Based on how much money comes from the company's main activities, the company is cheap. +2
The MRQ is 6.036. Based on how much money comes from the company's main activities, the company is cheap. +2
The TTM is 2.006. Based on how much money comes from the company's main activities, the company is cheap. +2

Trends

Current period		Compared to		+/-
EOD	7.934	MRQ	6.036	+1.898
MRQ	6.036	TTM	2.006	+4.030
TTM	2.006	YOY	1.679	+0.327
TTM	2.006	5Y	3.772	-1.766
5Y	3.772	10Y	0.932	+2.840

Compared to industry (Oil & Gas Refining & Marketing)

Period	Company	Industry (mean)	+/-
EOD	7.934	5.209	+2.725
MRQ	6.036	3.822	+2.214
TTM	2.006	3.671	-1.665
YOY	1.679	2.395	-0.716
5Y	3.772	2.384	+1.388
10Y	0.932	2.288	-1.356

2. Book Value per Share

2.3. Price to Book Ratio

Measures if the stock price of PBF Energy Inc is to cheap or to expensive compared to its book value.

At or below 1 is considered healthy (always compare to Oil & Gas Refining & Marketing industry mean).
A PB ratio of 0.80 means the investor is paying $0.80 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of PBF Energy Inc:

The EOD is 1.054. Based on the equity, the company is underpriced. +1
The MRQ is 0.802. Based on the equity, the company is cheap. +2
The TTM is 0.946. Based on the equity, the company is cheap. +2

Trends

Current period		Compared to		+/-
EOD	1.054	MRQ	0.802	+0.252
MRQ	0.802	TTM	0.946	-0.144
TTM	0.946	YOY	1.026	-0.079
TTM	0.946	5Y	0.820	+0.126
5Y	0.820	10Y	1.171	-0.351

Compared to industry (Oil & Gas Refining & Marketing)

Period	Company	Industry (mean)	+/-
EOD	1.054	1.221	-0.167
MRQ	0.802	1.044	-0.242
TTM	0.946	1.083	-0.137
YOY	1.026	1.250	-0.224
5Y	0.820	1.354	-0.534
10Y	1.171	1.584	-0.413

2. Total Gains per Share

3. Holders & Insider Transactions

Let's take a look at which institutions, funds and insiders are holding shares of PBF Energy Inc.

3.1. Institutions holding PBF Energy Inc

Institutions are holding 86.275% of the shares of PBF Energy Inc.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	BlackRock Inc	12.7351	0.017	15175764	1478350	10.7929
2023-12-31	Vanguard Group Inc	9.8187	0.0112	11700449	69422	0.5969
2023-12-31	Dimensional Fund Advisors, Inc.	6.1942	0.0948	7381349	120414	1.6584
2023-12-31	State Street Corporation	5.0446	0.0129	6011449	445133	7.9969
2023-12-31	Goldman Sachs Group Inc	2.7155	0.0128	3235880	765854	31.0059
2023-12-31	Arrowstreet Capital Limited Partnership	2.5772	0.1416	3071076	-307305	-9.0962
2023-12-31	Bank of New York Mellon Corp	2.4429	0.0259	2911094	-421100	-12.6373
2023-12-31	Geode Capital Management, LLC	2.1224	0.0116	2529181	-113126	-4.2813
2023-12-31	Morgan Stanley - Brokerage Accounts	1.6305	0.0075	1942961	28864	1.508
2023-12-31	Amvescap Plc.	1.5364	0.0192	1830856	386498	26.7592
2023-12-31	Macquarie Group Ltd	1.4553	0.0881	1734153	327919	23.3189
2023-12-31	Two Sigma Investments LLC	1.4374	0.173	1712876	844616	97.2769
2023-12-31	Two Sigma Advisers, LLC	1.346	0.1651	1603900	218500	15.7716
2023-09-30	Citadel Advisors Llc	1.304	0.0178	1553922	210486	15.6677
2023-12-31	Northern Trust Corp	1.2433	0.0118	1481542	-28943	-1.9161
2023-12-31	Charles Schwab Investment Management Inc	1.1716	0.0156	1396161	-4932	-0.352
2023-12-31	Deutsche Bank AG	1.1629	0.0311	1385751	1139436	462.593
2023-12-31	LSV Asset Management	1.0699	0.1223	1274904	216400	20.4439
2023-12-31	Genworth Financial Wealth Mgmt Inc	1.0687	0.2023	1273487	-136773	-9.6984
2023-12-31	NORGES BANK	1.0467	0.0096	1247323	168456	15.6142
Total		59.1233	1.1912	70454078	+5408169	+7.7%

3.2. Funds holding PBF Energy Inc

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2024-02-29	Vanguard Total Stock Mkt Idx Inv	2.8855	0.0104	3438527	-7299	-0.2118
2024-03-28	iShares Core S&P Mid-Cap ETF	2.8414	0.2292	3385989	0	0
2024-03-28	iShares Russell 2000 ETF	2.2721	0.238	2707581	8076	0.2992
2024-03-31	Vanguard Small Cap Index	2.1749	0.1014	2591767	-243105	-8.5755
2024-03-31	SPDR® S&P Oil & Gas Explor & Prodtn ETF	1.6637	2.706	1982526	0	0
2024-02-29	DFA US Small Cap Value I	1.6257	0.5882	1937224	0	0
2024-03-31	Vanguard Small Cap Value Index Inv	1.4659	0.1802	1746791	-187731	-9.7043
2024-03-31	Vanguard Institutional Extnd Mkt Idx Tr	1.3653	0.089	1626907	17505	1.0877
2024-03-28	Invesco S&P MidCap Quality ETF	0.9577	1.4697	1141208	3372	0.2964
2024-01-31	Fidelity Small Cap Index	0.9471	0.2299	1128656	17593	1.5834
2024-02-29	Delaware Small Cap Value A	0.8778	1.0322	1046000	-14400	-1.358
2024-03-28	iShares Russell 2000 Value ETF	0.8715	0.4768	1038523	-659	-0.0634
2024-02-29	DFA US Targeted Value I	0.8319	0.3587	991358	0	0
2024-03-29	Dimensional US Targeted Value ETF	0.804	0.5489	958096	0	0
2024-03-31	SPDR® S&P MIDCAP 400 ETF Trust	0.7462	0.2299	889209	20545	2.3651
2024-03-29	Avantis US Small Cap Value ETF	0.6024	0.381	717810	0	0
2024-03-31	State St Russell Sm/Mid Cp® Indx NL Cl C	0.5672	0.09	675885	2500	0.3713
2024-03-28	iShares S&P Mid-Cap 400 Value ETF	0.5354	0.4806	638061	1820	0.2861
2024-02-29	Fidelity Extended Market Index	0.5139	0.0746	612433	2922	0.4794
2024-03-31	BNY Mellon Sm/Md Cp Gr I	0.5037	1.6762	600212	-29236	-4.6447
Total		25.0533	11.1909	29854763	-408097	-1.4%

3.3. Insider Transactions

Insiders are holding 13.847% of the shares of PBF Energy Inc.

Date	Owner	Type	Amount	Price
2024-03-25	Paul T Davis	SELL	100000	56.37
2024-03-19	Connor Thomas L O	SELL	40000	55.87
2024-03-14	Connor Thomas L O	SELL	40000	55.07
2024-01-24	Control Empresarial De Capital	BUY	12200	43.86
2024-01-16	Control Empresarial De Capital	BUY	770000	42.95
2024-01-12	Control Empresarial De Capital	BUY	486000	42.48
2023-12-19	Trecia M Canty	SELL	10000	46.69
2023-09-28	Connor Thomas L O	SELL	50000	55.17
2023-09-14	Connor Thomas L O	SELL	50000	54.84

4. Summary

4.1. Key Performance Indicators

The key performance indicators of PBF Energy Inc compared to the Most Recent Quarter (MRQ).

	End of day	+/-	Most Recent Quarter	Trailing 12 Months	+/-	Year-Over-Year	+/-	5 Year	+/-	10 Year	+/-
Book Value Change Per Share	-	-	1.895	4.133	-54%	4.415	-57%	1.377	+38%	1.010	+88%
Book Value Per Share	-	-	54.804	48.571	+13%	31.981	+71%	29.916	+83%	25.086	+118%
Current Ratio	-	-	1.564	1.470	+6%	1.202	+30%	1.419	+10%	1.544	+1%
Debt To Asset Ratio	-	-	0.559	0.563	-1%	0.699	-20%	0.683	-18%	0.666	-16%
Debt To Equity Ratio	-	-	1.295	1.307	-1%	3.092	-58%	2.964	-56%	2.492	-48%
Dividend Per Share	-	-	0.250	0.210	+19%	0.143	+75%	0.208	+21%	0.287	-13%
Eps	-	-	-0.400	4.082	-110%	5.644	-107%	1.586	-125%	0.965	-141%
Free Cash Flow Per Share	-	-	1.821	1.351	+35%	8.148	-78%	1.867	-2%	1.235	+47%
Free Cash Flow To Equity Per Share	-	-	0.340	-1.398	+512%	2.450	-86%	1.051	-68%	1.156	-71%
Gross Profit Margin	-	-	1.000	1.000	0%	1.000	0%	1.000	0%	1.000	0%
Intrinsic Value_10Y_max	-	-	159.733	-	-	-	-	-	-	-	-
Intrinsic Value_10Y_min	-	-	58.813	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_max	-	-	13.702	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_min	-	-	5.134	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_max	-	-	42.925	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_min	-	-	16.174	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_max	-	-	74.266	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_min	-	-	27.951	-	-	-	-	-	-	-	-
Market Cap	6885353700.000	+23%	5319130502.840	5858451048.915	-9%	4104256732.848	+30%	3244468715.050	+64%	3422786174.316	+55%
Net Profit Margin	-	-	-0.005	0.055	-110%	0.057	-109%	0.014	-137%	0.011	-149%
Operating Margin	-	-	-0.006	0.074	-108%	0.082	-107%	0.027	-122%	0.025	-123%
Operating Ratio	-	-	1.006	0.963	+4%	0.917	+10%	0.985	+2%	0.982	+2%
Pb Ratio	1.054	+24%	0.802	0.946	-15%	1.026	-22%	0.820	-2%	1.171	-31%
Pe Ratio	-36.112	-31%	-27.475	-5.036	-82%	-7.706	-72%	-1.894	-93%	1.700	-1716%
Price Per Share	57.780	+24%	43.960	45.448	-3%	32.333	+36%	25.881	+70%	28.037	+57%
Price To Free Cash Flow Ratio	7.934	+24%	6.036	2.006	+201%	1.679	+259%	3.772	+60%	0.932	+548%
Price To Total Gains Ratio	26.928	+24%	20.487	18.639	+10%	135.295	-85%	40.803	-50%	23.043	-11%
Quick Ratio	-	-	0.746	0.704	+6%	0.652	+14%	0.675	+11%	0.734	+2%
Return On Assets	-	-	-0.003	0.038	-108%	0.053	-106%	0.014	-124%	0.009	-134%
Return On Equity	-	-	-0.007	0.087	-109%	0.189	-104%	0.029	-126%	0.023	-132%
Total Gains Per Share	-	-	2.146	4.343	-51%	4.558	-53%	1.585	+35%	1.297	+65%
Usd Book Value	-	-	6631300001.000	6236175000.250	+6%	4061275000.000	+63%	3731485000.050	+78%	3073654875.025	+116%
Usd Book Value Change Per Share	-	-	1.895	4.133	-54%	4.415	-57%	1.377	+38%	1.010	+88%
Usd Book Value Per Share	-	-	54.804	48.571	+13%	31.981	+71%	29.916	+83%	25.086	+118%
Usd Dividend Per Share	-	-	0.250	0.210	+19%	0.143	+75%	0.208	+21%	0.287	-13%
Usd Eps	-	-	-0.400	4.082	-110%	5.644	-107%	1.586	-125%	0.965	-141%
Usd Free Cash Flow	-	-	220300000.000	172825000.000	+27%	1034675000.000	-79%	237950000.000	-7%	154956300.000	+42%
Usd Free Cash Flow Per Share	-	-	1.821	1.351	+35%	8.148	-78%	1.867	-2%	1.235	+47%
Usd Free Cash Flow To Equity Per Share	-	-	0.340	-1.398	+512%	2.450	-86%	1.051	-68%	1.156	-71%
Usd Market Cap	6885353700.000	+23%	5319130502.840	5858451048.915	-9%	4104256732.848	+30%	3244468715.050	+64%	3422786174.316	+55%
Usd Price Per Share	57.780	+24%	43.960	45.448	-3%	32.333	+36%	25.881	+70%	28.037	+57%
Usd Profit	-	-	-48400000.000	535125000.000	-109%	723650000.000	-107%	209660000.000	-123%	125400150.000	-139%
Usd Revenue	-	-	9138700000.000	9581200000.000	-5%	11707575000.000	-22%	7601630000.000	+20%	6246945950.000	+46%
Usd Total Gains Per Share	-	-	2.146	4.343	-51%	4.558	-53%	1.585	+35%	1.297	+65%
	EOD	+5 -3	MRQ	TTM	+18 -17	YOY	+14 -21	5Y	+19 -16	10Y	+20 -15

4.2. Fundamental Score

Let's check the fundamental score of PBF Energy Inc based on Penke's default stock scanner.

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	-36.112
Price to Book Ratio (EOD)	Between	0-1	1.054
Net Profit Margin (MRQ)	Greater than	0	-0.005
Operating Margin (MRQ)	Greater than	0	-0.006
Quick Ratio (MRQ)	Greater than	1	0.746
Current Ratio (MRQ)	Greater than	1	1.564
Debt to Asset Ratio (MRQ)	Less than	1	0.559
Debt to Equity Ratio (MRQ)	Less than	1	1.295
Return on Equity (MRQ)	Greater than	0.15	-0.007
Return on Assets (MRQ)	Greater than	0.05	-0.003
Total			2/10 (20.0%)

Create your own Stock Scanner

Investing is personal. The best investors buy stocks based on their own analysis. Create your personal Stock Scanner with the key performance indicators that are important to you.
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4.3. Technical Score

Let's check the technical score of PBF Energy Inc based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	54.087
Ma 20	Greater than	Ma 50	58.583
Ma 50	Greater than	Ma 100	54.314
Ma 100	Greater than	Ma 200	49.841
Open	Greater than	Close	57.120
Total			4/5 (80.0%)

Create your own Symbol Scanner

Trading is personal. The best traders buy and sell based on their own technical analysis. Create your personal Symbol Scanner with the technical indicators that are important to you.
Create your own Symbol Scanner

Reversals in quarterly reports

I have detected a reversal (positive to negative, negative to positive) in the following values of the quarterly reports.

	2022-12-31		2023-03-31		2023-06-30		2023-09-30		2023-12-31
Income before Tax	924,600	-412,200	512,400	865,900	1,378,300	-329,600	1,048,700	-1,102,300	-53,600
Net Income	637,800	-255,700	382,100	638,300	1,020,400	-234,000	786,400	-834,800	-48,400
EBIT	955,600	-423,200	532,400	843,300	1,375,700	-357,400	1,018,300	-1,071,600	-53,300
Operating Income	955,600	-423,200	532,400	856,800	1,389,200	-312,100	1,077,100	-1,130,400	-53,300
Tax Provision	268,500	-142,000	126,500	221,400	347,900	-93,300	254,600	-259,800	-5,200
Income Tax Expense	268,500	-142,000	126,500	221,400	347,900	-93,300	254,600	-259,800	-5,200
Net Income from Continuing Operations	656,100	-270,200	385,900	644,500	1,030,400	-236,300	794,100	-842,500	-48,400

Latest Balance Sheet

Balance Sheet of 2023-12-31. Currency in USD. All numbers in thousands.

Summary

Total Assets	15,032,600
Total Liabilities	8,401,300
Total Stockholder Equity	6,488,300

	As reported
Total Liabilities	8,401,300
Total Stockholder Equity	+ 6,488,300
Total Assets	= 15,032,600

Assets

Total Assets	15,032,600
Total Current Assets	6,596,600
Long-term Assets	8,436,000

Total Current Assets

Total Current Assets (as reported)	6,596,600
Cash And Cash Equivalents	1,783,500
Net Receivables	1,362,500
Inventory	3,183,100
Other Current Assets	267,500
Total Current Assets (calculated)	6,596,600
+/-	0

Long-term Assets

Long-term Assets (as reported)	8,436,000
Property Plant Equipment	5,767,200
Goodwill	207,800
Long Term Investments	881,000
Intangible Assets	8,600
Long-term Assets Other	926,600
Long-term Assets (calculated)	7,791,200
+/-	644,800

Liabilities & Shareholders' Equity

Total Current Liabilities	4,217,300
Long-term Liabilities	4,184,000
Total Stockholder Equity	6,488,300

Total Current Liabilities

Total Current Liabilities (as reported)	4,217,300
Short-term Debt	143,400
Accounts payable	959,000
Other Current Liabilities	3,050,800
Total Current Liabilities (calculated)	4,153,200
+/-	64,100

Long-term Liabilities

Long-term Liabilities (as reported)	4,184,000
Long term Debt	1,245,900
Capital Lease Obligations	798,300
Long-term Liabilities Other	271,500
Long-term Liabilities (calculated)	2,315,700
+/-	1,868,300

Total Stockholder Equity

Total Stockholder Equity (as reported)	6,488,300
Common Stock	100
Retained Earnings	4,089,900
Accumulated Other Comprehensive Income	-12,300
Other Stockholders Equity	2,410,600
Total Stockholder Equity (calculated)	6,488,300
+/-	0

Other

Capital Stock	100
Cash and Short Term Investments	1,783,500
Common Stock Shares Outstanding	120,999
Current Deferred Revenue	64,100
Liabilities and Stockholders Equity	15,032,600
Net Debt	260,700
Net Invested Capital	7,734,200
Net Working Capital	2,379,300
Property Plant and Equipment Gross	7,679,300
Short Long Term Debt Total	2,044,200

Balance Sheet

Currency in USD. All numbers in thousands.

Trend

2023-12-31

2023-09-30

2023-06-30

2023-03-31

2022-12-31

2022-09-30

2022-06-30

2022-03-31

2021-12-31

2021-09-30

2021-06-30

2021-03-31

2020-12-31

2020-09-30

2020-06-30

2020-03-31

2019-12-31

2019-09-30

2019-06-30

2019-03-31

2018-12-31

2018-09-30

2018-06-30

2018-03-31

2017-12-31

2017-09-30

2017-06-30

2017-03-31

2016-12-31

2016-09-30

2016-06-30

2016-03-31

2015-12-31

2015-09-30

2015-06-30

2015-03-31

2014-12-31

2014-09-30

2014-06-30

2014-03-31

2013-12-31

2013-09-30

2013-06-30

2013-03-31

2012-12-31

2012-09-30

2012-06-30

2012-03-31

2011-12-31

2011-09-30

2011-06-30

2010-12-31

> Total Assets

1,274,393
3,558,509
0
3,621,109
0
0
3,932,507
4,253,702
4,509,073
4,325,903
4,329,341
4,413,808
4,716,419
5,681,840
5,877,118
5,196,288
5,150,612
5,543,622
5,107,176
6,105,124
6,630,153
6,988,050
7,465,714
7,621,927
7,512,237
7,481,220
7,999,457
8,117,993
8,282,363
8,546,715
9,215,410
8,005,415
9,126,100
8,809,700
8,917,400
9,132,400
9,134,100
10,073,300
10,191,300
10,499,800
11,270,100
11,654,200
11,844,200
11,641,400
12,948,300
13,975,700
13,304,300
13,549,100
13,139,100
14,034,200
14,692,800
15,032,600

15,032,600

14,692,800

14,034,200

13,139,100

13,549,100

13,304,300

13,975,700

12,948,300

11,641,400

11,844,200

11,654,200

11,270,100

10,499,800

10,191,300

10,073,300

9,134,100

9,132,400

8,917,400

8,809,700

9,126,100

8,005,415

9,215,410

8,546,715

8,282,363

8,117,993

7,999,457

7,481,220

7,512,237

7,621,927

7,465,714

6,988,050

6,630,153

6,105,124

5,107,176

5,543,622

5,150,612

5,196,288

5,877,118

5,681,840

4,716,419

4,413,808

4,329,341

4,325,903

4,509,073

4,253,702

3,932,507

3,621,109

3,558,509

1,274,393

> Total Current Assets

580,129
1,978,631
0
1,946,504
0
0
2,172,405
2,307,904
2,551,677
2,248,973
2,191,345
2,200,506
2,365,822
2,843,936
3,005,563
2,346,671
2,295,131
2,685,572
2,303,575
3,022,011
3,021,357
3,931,973
3,547,015
3,407,255
3,125,291
2,733,099
3,445,873
3,802,959
3,861,735
4,107,830
4,749,606
3,236,932
3,979,300
3,599,000
3,602,900
3,823,700
2,309,700
3,387,100
3,312,600
3,867,400
4,854,800
5,266,500
5,486,500
5,199,200
6,379,600
7,332,300
6,571,900
6,546,300
5,866,700
6,304,700
6,920,700
6,596,600

6,596,600

6,920,700

6,304,700

5,866,700

6,546,300

6,571,900

7,332,300

6,379,600

5,199,200

5,486,500

5,266,500

4,854,800

3,867,400

3,312,600

3,387,100

2,309,700

3,823,700

3,602,900

3,599,000

3,979,300

3,236,932

4,749,606

4,107,830

3,861,735

3,802,959

3,445,873

2,733,099

3,125,291

3,407,255

3,547,015

3,931,973

3,021,357

3,022,011

2,303,575

2,685,572

2,295,131

2,346,671

3,005,563

2,843,936

2,365,822

2,200,506

2,191,345

2,248,973

2,551,677

2,307,904

2,172,405

1,946,504

1,978,631

580,129

Cash And Cash Equivalents

155,457
143,937
0
50,166
0
0
170,048
285,884
404,088
69,230
57,417
76,970
237,135
317,544
477,393
397,873
449,480
623,822
472,829
944,320
740,321
1,412,935
625,402
746,274
306,091
173,031
300,891
573,021
362,963
478,329
1,059,200
597,286
418,300
204,100
536,300
814,900
722,100
1,225,200
1,282,600
1,609,500
1,541,200
1,479,700
1,472,500
1,341,500
1,434,600
2,174,300
1,908,600
2,203,600
1,616,100
1,516,900
1,892,500
1,783,500

1,783,500

1,892,500

1,516,900

1,616,100

2,203,600

1,908,600

2,174,300

1,434,600

1,341,500

1,472,500

1,479,700

1,541,200

1,609,500

1,282,600

1,225,200

722,100

814,900

536,300

204,100

418,300

597,286

1,059,200

478,329

362,963

573,021

300,891

173,031

306,091

746,274

625,402

1,412,935

740,321

944,320

472,829

623,822

449,480

397,873

477,393

317,544

237,135

76,970

57,417

69,230

404,088

285,884

170,048

50,166

143,937

155,457

Short-term Investments

0
0
0
0
0
0
0
0
0
0
0
0
0
299,996
264,913
234,930
234,939
234,249
234,249
234,258
234,408
136,144
59,991
40,024
40,054
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

40,054

40,024

59,991

136,144

234,408

234,258

234,249

234,939

234,930

264,913

299,996

Net Receivables

36,937
351,004
0
316,252
0
0
496,241
503,796
662,846
591,352
577,879
596,647
529,641
713,226
698,399
551,269
441,185
540,227
395,624
454,759
541,524
647,866
653,638
620,175
610,213
611,642
776,013
952,552
831,055
1,034,074
1,067,811
718,207
869,400
989,800
879,800
835,000
439,100
429,000
464,600
512,900
863,500
1,007,800
1,056,800
1,277,600
1,815,100
1,967,500
1,630,200
1,456,300
1,184,100
1,368,600
1,583,400
1,362,500

1,362,500

1,583,400

1,368,600

1,184,100

1,456,300

1,630,200

1,967,500

1,815,100

1,277,600

1,056,800

1,007,800

863,500

512,900

464,600

429,000

439,100

835,000

879,800

989,800

869,400

718,207

1,067,811

1,034,074

831,055

952,552

776,013

611,642

610,213

620,175

653,638

647,866

541,524

454,759

395,624

540,227

441,185

551,269

698,399

713,226

529,641

596,647

577,879

591,352

662,846

503,796

496,241

316,252

351,004

36,937

Inventory

376,629
1,469,369
0
1,516,727
0
0
1,479,728
1,497,119
1,450,518
1,537,573
1,472,637
1,445,517
1,546,255
1,711,851
1,787,465
1,102,261
1,129,207
1,306,414
1,101,182
1,174,272
1,229,299
1,308,536
1,845,595
1,863,560
2,085,958
1,875,164
2,310,692
2,213,797
2,579,744
2,540,277
2,561,106
1,865,831
2,566,500
2,314,400
2,130,400
2,122,200
986,500
1,620,200
1,485,600
1,686,200
2,312,400
2,636,200
2,831,400
2,505,100
2,893,500
2,976,300
2,689,500
2,763,600
2,854,900
2,832,300
3,180,900
3,183,100

3,183,100

3,180,900

2,832,300

2,854,900

2,763,600

2,689,500

2,976,300

2,893,500

2,505,100

2,831,400

2,636,200

2,312,400

1,686,200

1,485,600

1,620,200

986,500

2,122,200

2,130,400

2,314,400

2,566,500

1,865,831

2,561,106

2,540,277

2,579,744

2,213,797

2,310,692

1,875,164

2,085,958

1,863,560

1,845,595

1,308,536

1,229,299

1,174,272

1,101,182

1,306,414

1,129,207

1,102,261

1,787,465

1,711,851

1,546,255

1,445,517

1,472,637

1,537,573

1,450,518

1,497,119

1,479,728

1,516,727

1,469,369

376,629

Other Current Assets

11,106
14,321
0
63,359
0
0
26,388
13,388
28,590
46,136
56,133
55,843
40,125
83,315
30,739
72,900
49,068
39,456
71,398
77,474
156,666
110,828
182,008
137,222
82,975
73,262
58,277
63,589
87,973
55,150
61,489
55,608
125,100
90,700
56,400
51,600
103,600
112,700
79,800
58,800
137,700
142,800
125,800
75,000
236,400
214,200
343,600
122,800
211,600
586,900
263,900
267,500

267,500

263,900

586,900

211,600

122,800

343,600

214,200

236,400

75,000

125,800

142,800

137,700

58,800

79,800

112,700

103,600

51,600

56,400

90,700

125,100

55,608

61,489

55,150

87,973

63,589

58,277

73,262

82,975

137,222

182,008

110,828

156,666

77,474

71,398

39,456

49,068

72,900

30,739

83,315

40,125

55,843

56,133

46,136

28,590

13,388

26,388

63,359

14,321

11,106

> Long-term Assets

694,264
1,579,878
0
1,674,605
0
0
1,760,102
1,945,798
1,957,396
2,076,930
2,137,996
2,213,302
2,350,597
2,837,904
2,871,555
2,849,617
2,855,481
2,858,050
2,803,601
3,083,113
3,162,302
3,056,077
3,918,699
4,214,672
4,386,946
4,748,121
4,553,584
4,315,034
4,420,628
4,438,885
4,465,804
4,768,483
5,146,800
5,210,700
5,314,500
5,308,700
6,824,400
6,686,200
6,878,700
6,632,400
6,415,300
6,387,700
6,357,700
6,442,200
6,568,700
6,643,400
6,732,400
7,002,800
7,272,400
7,729,500
7,772,100
8,436,000

8,436,000

7,772,100

7,729,500

7,272,400

7,002,800

6,732,400

6,643,400

6,568,700

6,442,200

6,357,700

6,387,700

6,415,300

6,632,400

6,878,700

6,686,200

6,824,400

5,308,700

5,314,500

5,210,700

5,146,800

4,768,483

4,465,804

4,438,885

4,420,628

4,315,034

4,553,584

4,748,121

4,386,946

4,214,672

3,918,699

3,056,077

3,162,302

3,083,113

2,803,601

2,858,050

2,855,481

2,849,617

2,871,555

2,837,904

2,350,597

2,213,302

2,137,996

2,076,930

1,957,396

1,945,798

1,760,102

1,674,605

1,579,878

694,264

Property Plant Equipment

639,565
1,426,670
0
1,513,947
0
0
1,574,712
1,635,587
1,658,291
1,685,104
1,735,760
1,781,589
1,757,985
1,822,309
1,902,006
1,936,839
1,931,811
1,964,953
1,960,149
2,356,638
2,372,904
2,504,921
3,252,234
3,328,770
3,380,082
3,457,321
3,480,922
3,479,213
3,493,021
3,560,524
3,597,266
3,820,892
4,121,400
4,156,000
4,306,900
4,353,800
5,410,700
5,477,700
5,899,600
5,760,200
5,569,200
5,576,000
5,566,200
5,619,300
5,674,900
5,712,900
5,819,200
6,040,100
6,220,200
5,701,100
5,734,800
5,767,200

5,767,200

5,734,800

5,701,100

6,220,200

6,040,100

5,819,200

5,712,900

5,674,900

5,619,300

5,566,200

5,576,000

5,569,200

5,760,200

5,899,600

5,477,700

5,410,700

4,353,800

4,306,900

4,156,000

4,121,400

3,820,892

3,597,266

3,560,524

3,493,021

3,479,213

3,480,922

3,457,321

3,380,082

3,328,770

3,252,234

2,504,921

2,372,904

2,356,638

1,960,149

1,964,953

1,931,811

1,936,839

1,902,006

1,822,309

1,757,985

1,781,589

1,735,760

1,685,104

1,658,291

1,635,587

1,574,712

1,513,947

1,426,670

639,565

Goodwill

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
207,800

207,800

Long Term Investments

0
0
0
0
0
0
0
0
0
0
0
0
0
299,996
264,913
234,930
234,939
234,249
234,249
234,258
234,408
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
927,500
940,000
881,000

881,000

940,000

927,500

234,408

234,258

234,249

234,939

234,930

264,913

299,996

Intangible Assets

3,072
0
0
1,703
0
0
1,297
1,085
997
869
761
653
560
492
424
357
289
241
231
219
209
199
598
577
0
0
0
537
0
0
0
25,648
0
13,300
13,300
24,300
0
0
0
10,100
0
0
0
9,600
0
0
0
236,200
0
0
0
8,600

8,600

236,200

9,600

10,100

24,300

13,300

25,648

537

577

598

199

209

219

231

241

289

357

424

492

560

653

761

869

997

1,085

1,297

1,703

3,072

Other Assets

54,699
0
0
160,658
0
0
185,390
310,211
299,105
391,826
402,236
431,713
592,612
1,015,595
969,549
912,778
923,670
893,097
843,452
726,475
446,494
551,156
666,465
885,902
1,006,864
1,290,800
1,072,662
835,821
927,607
878,361
868,538
921,943
1,025,400
1,027,200
980,500
930,600
1,413,700
1,208,500
979,100
1,789,000
846,100
811,700
791,500
813,300
893,800
930,500
913,200
962,700
1,052,200
1,100,900
1,097,300
9,421,200

9,421,200

1,097,300

1,100,900

1,052,200

962,700

913,200

930,500

893,800

813,300

791,500

811,700

846,100

1,789,000

979,100

1,208,500

1,413,700

930,600

980,500

1,027,200

1,025,400

921,943

868,538

878,361

927,607

835,821

1,072,662

1,290,800

1,006,864

885,902

666,465

551,156

446,494

726,475

843,452

893,097

923,670

912,778

969,549

1,015,595

592,612

431,713

402,236

391,826

299,105

310,211

185,390

160,658

54,699

Deferred Long Term Asset Charges

0
0
0
0
0
0
0
0
107,500
204,589
200,282
169,234
310,445
429,236
418,116
345,179
358,192
342,646
297,783
201,504
188,281
180,727
217,194
379,306
398,787
476,893
268,622
53,638
47,265
0
0
48,500
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

48,500

47,265

53,638

268,622

476,893

398,787

379,306

217,194

180,727

188,281

201,504

297,783

342,646

358,192

345,179

418,116

429,236

310,445

169,234

200,282

204,589

107,500

> Total Liabilities

815,732
2,569,400
0
2,513,494
0
0
2,299,181
2,530,157
2,747,666
2,583,994
2,680,505
2,698,552
2,906,296
3,617,866
3,702,579
3,502,972
3,382,896
3,671,238
3,216,206
4,009,267
4,149,913
4,812,194
5,186,354
5,051,243
5,000,014
5,112,227
5,324,095
5,215,044
5,366,538
5,374,431
5,570,049
4,756,936
5,679,300
5,296,600
5,363,100
5,546,900
6,654,600
7,183,600
7,700,500
8,297,500
9,094,000
9,407,300
9,522,100
9,108,600
10,422,200
10,189,200
8,427,800
8,493,100
7,870,800
7,850,900
7,831,000
8,401,300

8,401,300

7,831,000

7,850,900

7,870,800

8,493,100

8,427,800

10,189,200

10,422,200

9,108,600

9,522,100

9,407,300

9,094,000

8,297,500

7,700,500

7,183,600

6,654,600

5,546,900

5,363,100

5,296,600

5,679,300

4,756,936

5,570,049

5,374,431

5,366,538

5,215,044

5,324,095

5,112,227

5,000,014

5,051,243

5,186,354

4,812,194

4,149,913

4,009,267

3,216,206

3,671,238

3,382,896

3,502,972

3,702,579

3,617,866

2,906,296

2,698,552

2,680,505

2,583,994

2,747,666

2,530,157

2,299,181

2,513,494

2,569,400

815,732

> Total Current Liabilities

470,406
1,824,188
0
1,660,127
0
0
1,532,010
1,603,074
1,828,727
1,441,887
1,609,350
1,644,510
1,642,636
1,867,997
1,824,468
1,542,822
1,384,439
1,572,213
1,094,460
1,495,506
1,623,003
1,901,518
2,047,733
2,056,547
2,000,799
2,064,671
2,292,296
2,418,946
2,577,690
2,477,285
2,648,654
2,134,515
2,606,900
2,397,800
2,312,100
2,509,200
2,045,900
2,037,200
1,955,900
2,451,500
3,399,300
3,751,000
4,199,600
3,759,700
5,085,700
6,772,800
5,423,900
5,200,700
4,596,800
4,302,400
4,392,700
4,217,300

4,217,300

4,392,700

4,302,400

4,596,800

5,200,700

5,423,900

6,772,800

5,085,700

3,759,700

4,199,600

3,751,000

3,399,300

2,451,500

1,955,900

2,037,200

2,045,900

2,509,200

2,312,100

2,397,800

2,606,900

2,134,515

2,648,654

2,477,285

2,577,690

2,418,946

2,292,296

2,064,671

2,000,799

2,056,547

2,047,733

1,901,518

1,623,003

1,495,506

1,094,460

1,572,213

1,384,439

1,542,822

1,824,468

1,867,997

1,642,636

1,644,510

1,609,350

1,441,887

1,828,727

1,603,074

1,532,010

1,660,127

1,824,188

470,406

Short-term Debt

1,250
161,250
0
4,014
0
0
0
0
0
0
0
12,029
12,491
13,009
0
1,228,069
0
0
0
1,840,355
135,864
135,864
59,664
39,664
0
2,159,547
6,831
16,608
15,442
4,498
1,242
2,378
83,500
81,500
78,200
78,600
92,200
161,400
99,700
100,200
80,500
81,800
164,100
76,000
111,600
1,334,600
597,800
596,400
85,900
132,500
130,100
143,400

143,400

130,100

132,500

85,900

596,400

597,800

1,334,600

111,600

76,000

164,100

81,800

80,500

100,200

99,700

161,400

92,200

78,600

78,200

81,500

83,500

2,378

1,242

4,498

15,442

16,608

6,831

2,159,547

39,664

59,664

135,864

1,840,355

1,228,069

13,009

12,491

12,029

4,014

161,250

1,250

Short Long Term Debt

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,228,069
0
0
0
1,840,355
135,864
135,864
59,664
39,664
0
2,159,547
2,165,168
2,191,650
2,181,046
2,218,540
0
0
81,000
0
0
0
0
0
0
0
5,600
3,700
89,100
0
29,900
1,256,600
523,800
524,200
0
0
0
0

524,200

523,800

1,256,600

29,900

89,100

3,700

5,600

81,000

2,218,540

2,181,046

2,191,650

2,165,168

2,159,547

39,664

59,664

135,864

1,840,355

1,228,069

Accounts payable

36,302
284,966
0
286,067
0
0
246,914
360,057
476,220
227,567
563,922
402,293
246,819
339,185
377,343
335,268
313,155
354,636
212,772
315,653
388,230
373,839
369,731
535,907
380,575
449,199
447,623
578,551
666,806
637,941
483,127
488,432
556,200
444,200
521,200
601,400
437,100
423,400
212,700
407,000
710,600
783,300
461,200
911,700
1,625,100
1,341,700
912,300
854,600
750,200
635,300
1,213,300
959,000

959,000

1,213,300

635,300

750,200

854,600

912,300

1,341,700

1,625,100

911,700

461,200

783,300

710,600

407,000

212,700

423,400

437,100

601,400

521,200

444,200

556,200

488,432

483,127

637,941

666,806

578,551

447,623

449,199

380,575

535,907

369,731

373,839

388,230

315,653

212,772

354,636

313,155

335,268

377,343

339,185

246,819

402,293

563,922

227,567

476,220

360,057

246,914

286,067

284,966

36,302

Other Current Liabilities

366,515
1,276,371
0
1,180,812
0
0
1,082,143
1,005,933
1,092,426
1,020,293
1,015,442
1,198,801
1,363,557
1,498,519
1,431,517
1,181,668
1,039,278
1,189,082
868,604
1,155,415
1,204,963
1,363,713
1,592,506
1,458,469
1,594,517
1,585,399
1,788,007
1,798,721
1,857,504
1,807,367
2,130,548
1,618,025
1,900,000
1,845,400
1,695,500
1,807,300
1,443,500
1,423,900
1,615,000
1,893,100
2,581,500
2,855,000
3,527,900
2,725,800
3,291,400
4,005,800
3,835,800
3,709,100
3,686,600
3,459,200
2,969,700
3,050,800

3,050,800

2,969,700

3,459,200

3,686,600

3,709,100

3,835,800

4,005,800

3,291,400

2,725,800

3,527,900

2,855,000

2,581,500

1,893,100

1,615,000

1,423,900

1,443,500

1,807,300

1,695,500

1,845,400

1,900,000

1,618,025

2,130,548

1,807,367

1,857,504

1,798,721

1,788,007

1,585,399

1,594,517

1,458,469

1,592,506

1,363,713

1,204,963

1,155,415

868,604

1,189,082

1,039,278

1,181,668

1,431,517

1,498,519

1,363,557

1,198,801

1,015,442

1,020,293

1,092,426

1,005,933

1,082,143

1,180,812

1,276,371

366,515

> Long-term Liabilities

345,326
745,212
0
853,367
0
0
767,171
927,083
919,155
1,142,107
1,071,155
1,054,042
1,263,660
1,749,869
1,878,111
1,960,150
1,998,457
2,099,025
2,121,746
2,513,761
2,526,910
2,910,676
3,138,621
2,994,696
2,999,215
3,047,556
3,031,799
2,796,098
2,788,848
2,897,146
2,921,395
2,622,421
3,072,400
2,898,800
3,051,000
3,037,700
4,608,700
5,146,400
5,744,600
5,846,000
5,694,700
5,656,300
5,322,500
5,348,900
5,336,500
3,416,400
3,003,900
3,292,400
3,274,000
3,548,500
3,438,300
4,184,000

4,184,000

3,438,300

3,548,500

3,274,000

3,292,400

3,003,900

3,416,400

5,336,500

5,348,900

5,322,500

5,656,300

5,694,700

5,846,000

5,744,600

5,146,400

4,608,700

3,037,700

3,051,000

2,898,800

3,072,400

2,622,421

2,921,395

2,897,146

2,788,848

2,796,098

3,031,799

3,047,556

2,999,215

2,994,696

3,138,621

2,910,676

2,526,910

2,513,761

2,121,746

2,099,025

1,998,457

1,960,150

1,878,111

1,749,869

1,263,660

1,054,042

1,071,155

1,142,107

919,155

927,083

767,171

853,367

745,212

345,326

Long term Debt Total

0
0
0
0
0
0
0
0
727,548
815,963
738,565
735,547
722,337
1,032,637
1,156,503
1,260,349
1,259,233
1,361,734
1,381,122
1,840,355
1,845,902
2,227,848
2,309,961
2,108,570
2,112,113
2,159,547
2,158,337
2,175,042
2,165,604
2,214,042
2,175,889
1,931,316
2,188,500
2,029,400
2,064,300
2,064,900
3,546,100
4,092,800
4,411,100
4,653,600
4,652,300
4,624,400
4,318,000
4,295,800
4,248,700
2,012,700
1,447,700
1,434,900
1,438,000
1,441,500
1,292,100
0

1,292,100

1,441,500

1,438,000

1,434,900

1,447,700

2,012,700

4,248,700

4,295,800

4,318,000

4,624,400

4,652,300

4,653,600

4,411,100

4,092,800

3,546,100

2,064,900

2,064,300

2,029,400

2,188,500

1,931,316

2,175,889

2,214,042

2,165,604

2,175,042

2,158,337

2,159,547

2,112,113

2,108,570

2,309,961

2,227,848

1,845,902

1,840,355

1,381,122

1,361,734

1,259,233

1,260,349

1,156,503

1,032,637

722,337

735,547

738,565

815,963

727,548

Long term Debt

323,814
0
0
800,851
0
0
732,961
729,980
727,548
815,963
738,565
735,547
722,337
1,032,637
1,156,503
1,260,349
1,259,233
1,361,734
1,381,122
1,840,355
1,845,902
2,227,848
2,309,961
2,108,570
2,112,113
2,159,547
2,158,337
2,175,042
2,165,604
2,214,042
2,175,889
1,931,316
2,188,500
2,029,400
2,064,300
2,064,900
3,546,100
4,092,800
4,411,100
4,653,600
4,652,300
4,517,800
4,318,000
4,295,800
4,248,700
2,012,700
1,447,700
1,434,900
1,438,000
1,441,500
1,243,000
1,245,900

1,245,900

1,243,000

1,441,500

1,438,000

1,434,900

1,447,700

2,012,700

4,248,700

4,295,800

4,318,000

4,517,800

4,652,300

4,653,600

4,411,100

4,092,800

3,546,100

2,064,900

2,064,300

2,029,400

2,188,500

1,931,316

2,175,889

2,214,042

2,165,604

2,175,042

2,158,337

2,159,547

2,112,113

2,108,570

2,309,961

2,227,848

1,845,902

1,840,355

1,381,122

1,361,734

1,259,233

1,260,349

1,156,503

1,032,637

722,337

735,547

738,565

815,963

727,548

729,980

732,961

800,851

323,814

Capital Lease Obligations

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
293,400
282,100
377,500
377,700
450,700
520,800
1,028,500
1,019,600
740,900
848,900
792,500
775,400
754,300
705,700
689,400
682,800
707,300
801,300
820,100
798,300

798,300

820,100

801,300

707,300

682,800

689,400

705,700

754,300

775,400

792,500

848,900

740,900

1,019,600

1,028,500

520,800

450,700

377,700

377,500

282,100

293,400

Deferred Long Term Asset Charges

0
0
0
0
0
0
0
0
107,500
204,589
200,282
169,234
310,445
429,236
418,116
345,179
358,192
342,646
297,783
201,504
188,281
180,727
217,194
379,306
398,787
476,893
268,622
53,638
47,265
0
0
48,500
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

48,500

47,265

53,638

268,622

476,893

398,787

379,306

217,194

180,727

188,281

201,504

297,783

342,646

358,192

345,179

418,116

429,236

310,445

169,234

200,282

204,589

107,500

Other Liabilities

21,512
0
0
49,213
0
0
29,949
197,103
191,607
326,144
332,590
318,495
541,323
717,232
721,608
699,801
739,224
737,291
740,624
673,406
681,008
682,828
828,660
840,427
841,441
837,187
827,122
587,901
623,244
683,104
745,506
691,105
718,900
700,000
721,500
721,300
740,000
726,300
491,300
368,100
376,400
367,700
357,400
412,100
448,600
776,000
940,800
1,246,900
0
1,440,900
1,517,500
0

1,517,500

1,440,900

1,246,900

940,800

776,000

448,600

412,100

357,400

367,700

376,400

368,100

491,300

726,300

740,000

721,300

721,500

700,000

718,900

691,105

745,506

683,104

623,244

587,901

827,122

837,187

841,441

840,427

828,660

682,828

681,008

673,406

740,624

737,291

739,224

699,801

721,608

717,232

541,323

318,495

332,590

326,144

191,607

197,103

29,949

49,213

21,512

Long-term Liabilities Other

0
0
0
0
0
0
0
0
191,607
326,144
332,590
318,495
541,323
717,232
721,608
699,801
739,224
737,291
740,624
673,406
681,008
682,828
828,660
840,427
841,441
837,187
827,122
587,901
590,785
624,487
623,100
650,740
813,500
809,300
905,200
875,900
1,017,800
1,012,300
1,239,500
1,092,800
950,500
271,600
249,300
941,700
982,200
1,232,100
1,279,300
1,322,100
1,258,200
1,259,900
288,200
271,500

271,500

288,200

1,259,900

1,258,200

1,322,100

1,279,300

1,232,100

982,200

941,700

249,300

271,600

950,500

1,092,800

1,239,500

1,012,300

1,017,800

875,900

905,200

809,300

813,500

650,740

623,100

624,487

590,785

587,901

827,122

837,187

841,441

840,427

828,660

682,828

681,008

673,406

740,624

737,291

739,224

699,801

721,608

717,232

541,323

318,495

332,590

326,144

191,607

Deferred Long Term Liability

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
204,987
0
0
0
177,236
0
0
0
45,699
45,661
50,822
46,340
33,155
32,459
58,617
122,406
40,365
70,400
60,100
81,500
96,900
44,800
41,300
94,000
99,600
91,900
790,800
770,600
111,400
105,600
171,600
913,200
535,400
577,800
847,100
1,078,900
0

1,078,900

847,100

577,800

535,400

913,200

171,600

105,600

111,400

770,600

790,800

91,900

99,600

94,000

41,300

44,800

96,900

81,500

60,100

70,400

40,365

122,406

58,617

32,459

33,155

46,340

50,822

45,661

45,699

177,236

204,987

> Total Stockholder Equity

458,661
989,109
0
1,107,615
0
0
1,633,326
419,754
1,761,407
1,741,909
1,648,836
1,715,256
1,810,123
2,063,974
2,174,539
1,693,316
1,767,716
1,872,384
1,890,970
2,095,857
2,038,890
2,175,856
2,279,360
2,570,684
1,966,716
1,827,155
2,112,298
2,902,949
2,349,881
2,601,829
3,067,934
3,248,479
2,957,700
2,967,400
3,007,700
3,585,500
1,948,300
2,344,800
1,935,400
2,202,300
1,606,700
1,664,400
1,729,200
2,532,800
1,911,000
3,147,600
4,218,200
5,056,000
5,268,300
6,044,900
6,861,800
6,488,300

6,488,300

6,861,800

6,044,900

5,268,300

5,056,000

4,218,200

3,147,600

1,911,000

2,532,800

1,729,200

1,664,400

1,606,700

2,202,300

1,935,400

2,344,800

1,948,300

3,585,500

3,007,700

2,967,400

2,957,700

3,248,479

3,067,934

2,601,829

2,349,881

2,902,949

2,112,298

1,827,155

1,966,716

2,570,684

2,279,360

2,175,856

2,038,890

2,095,857

1,890,970

1,872,384

1,767,716

1,693,316

2,174,539

2,063,974

1,810,123

1,715,256

1,648,836

1,741,909

1,761,407

419,754

1,633,326

1,107,615

989,109

458,661

Common Stock

516,231
925,925
0
923,841
0
0
924,840
24
24
40
40
40
70
88
88
88
92
92
92
93
93
93
93
94
94
94
94
95
95
96
105
105
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100

100

105

924,840

923,841

925,925

516,231

Retained Earnings

-56,521
64,233
0
186,150
0
0
710,843
1,956
6,278
16,021
-15,702
3,579
64,622
64,681
179,324
-123,271
-61,683
48,316
65,372
-83,454
-141,666
-67,478
-54,713
-44,852
-108,829
-253,498
27,952
236,786
233,830
471,958
615,540
225,838
419,100
350,800
384,300
401,200
-700,600
-311,500
-728,700
-1,027,100
-1,068,400
-1,020,500
-961,400
-796,100
-817,200
386,500
1,442,900
2,056,000
2,412,100
3,407,200
4,168,900
4,089,900

4,089,900

4,168,900

3,407,200

2,412,100

2,056,000

1,442,900

386,500

-817,200

-796,100

-961,400

-1,020,500

-1,068,400

-1,027,100

-728,700

-311,500

-700,600

401,200

384,300

350,800

419,100

225,838

615,540

471,958

233,830

236,786

27,952

-253,498

-108,829

-44,852

-54,713

-67,478

-141,666

-83,454

65,372

48,316

-61,683

-123,271

179,324

64,681

64,622

3,579

-15,702

16,021

6,278

1,956

710,843

186,150

64,233

-56,521

Accumulated Other Comprehensive Income

-1,049
-1,049
0
-2,376
0
0
-2,357
-61
-87
-3,576
-3,495
-6,988
-10,277
-12,667
-12,590
-24,298
-24,850
-24,543
-24,052
-23,289
-22,696
-22,302
-21,896
-24,439
-24,135
-23,816
-23,539
-25,381
-25,134
-25,109
-24,934
-22,428
-22,200
-21,700
-21,300
-8,300
-11,100
-10,800
-10,500
-9,100
-9,500
-9,200
-9,000
17,300
16,300
15,700
15,100
-1,500
-1,100
-1,500
-2,100
-12,300

-12,300

-2,100

-1,500

-1,100

-1,500

15,100

15,700

16,300

17,300

-9,000

-9,200

-9,500

-9,100

-10,500

-10,800

-11,100

-8,300

-21,300

-21,700

-22,200

-22,428

-24,934

-25,109

-25,134

-25,381

-23,539

-23,816

-24,135

-24,439

-21,896

-22,302

-22,696

-23,289

-24,052

-24,543

-24,850

-24,298

-12,590

-12,667

-10,277

-6,988

-3,495

-3,576

-87

-61

-2,357

-2,376

-1,049

Capital Surplus

0
0
0
0
0
0
0
0
418,322
658,355
659,661
657,499
1,198,365
1,496,456
1,505,851
1,508,425
1,552,621
1,552,118
1,558,237
1,904,751
1,907,469
1,930,697
1,967,441
2,245,788
2,251,133
2,255,922
2,259,338
2,277,739
2,294,692
2,308,502
2,631,191
2,633,750
2,722,500
2,800,400
2,806,800
2,812,300
2,825,600
2,832,700
2,841,500
2,846,200
2,852,700
2,862,500
2,868,000
2,874,000
2,882,000
2,915,800
2,930,700
3,201,600
3,223,200
3,237,000
3,265,100
0

3,265,100

3,237,000

3,223,200

3,201,600

2,930,700

2,915,800

2,882,000

2,874,000

2,868,000

2,862,500

2,852,700

2,846,200

2,841,500

2,832,700

2,825,600

2,812,300

2,806,800

2,800,400

2,722,500

2,633,750

2,631,191

2,308,502

2,294,692

2,277,739

2,259,338

2,255,922

2,251,133

2,245,788

1,967,441

1,930,697

1,907,469

1,904,751

1,558,237

1,552,118

1,552,621

1,508,425

1,505,851

1,496,456

1,198,365

657,499

659,661

658,355

418,322

Treasury Stock

-597,900

-496,400

-327,000

-170,600

-170,500

-170,200

-169,100

-168,500

-168,200

-167,300

-167,000

-165,700

-162,200

-161,800

-160,800

-153,968

-153,618

-153,602

-152,585

-151,547

-150,804

-301,608

-293,462

-143,138

-142,731

-65,186

Balance Sheet

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31
Accounts Payable	959,000	854,600	911,700	407,000	601,400	488,432	578,551	535,907	315,653	335,268	402,293	360,057	286,067	36,302	75
Accumulated Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Other Comprehensive Income	-12,300	-1,500	17,300	-9,100	-8,300	-22,428	-25,381	-24,439	-23,289	-24,298	-6,988	-61	-2,376	-1,049	-18
Additional Paid In Capital	0	0	0	0	0	0	2,277,739	2,245,788	0	0	0	0	0	0	0
Capital Lease Obligations	798,300	682,800	775,400	1,019,600	377,700	0	59,048	0	0	0	0	0	0	0	0
Capital Stock	100	100	100	100	100	105	0	0	0	0	0	0	0	0	0
Capital Surpluse	0	3,201,600	2,874,000	2,846,200	2,812,300	2,633,750	2,277,739	2,245,788	1,904,751	1,508,425	657,499	0	0	0	0
Cash	1,783,500	2,203,600	1,341,500	1,609,500	814,900	597,286	573,021	746,274	944,320	397,873	76,970	285,884	50,166	155,457	18,771
Cash And Equivalents	0	2,203,600	1,341,500	1,609,500	814,900	597,286	573,021	746,274	0	0	0	0	0	0	0
Cash And Short Term Investments	1,783,500	2,203,600	1,341,500	1,609,500	814,900	597,286	573,021	786,298	1,178,578	632,803	76,970	285,884	50,166	155,457	18,771
Common Stock	100	100	100	100	100	105	95	94	93	88	40	24	923,841	516,231	10,376
Common Stock Shares Outstanding	130,509	126,860	122,638	120,661	121,853	118,774	113,899	103,607	94,139	74,464	33,061	97,231	20,500	20,500	20,500
Common Stock Total Equity	0	100	100	100	100	105	95	94	93	88	40	24	0	516,231	10,376
Current Deferred Revenue	64,100	40,600	46,200	51,200	21,900	25,680	25,066	22,507	24,438	25,886	31,387	237,084	189,234	66,339	0
Deferred Long Term Asset Charges	0	0	0	0	0	48,500	53,638	379,306	201,504	345,179	169,234	0	0	0	0
Deferred Long Term Liab	0	535,400	111,400	99,600	96,900	40,365	33,155	45,699	177,236	204,987	0	0	0	0	0
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Good Will	207,800	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Intangible Assets	8,600	236,200	9,600	10,100	24,300	25,648	537	577	219	357	653	1,085	1,703	3,072	0
Inventory	3,183,100	2,763,600	2,505,100	1,686,200	2,122,200	1,865,831	2,213,797	1,863,560	1,174,272	1,102,261	1,445,517	1,497,119	1,516,727	376,629	0
Liabilities And Stockholders Equity	15,032,600	13,549,100	11,641,400	10,499,800	9,132,400	8,005,415	8,117,993	7,621,927	6,105,124	5,196,288	4,413,808	4,253,702	3,621,109	1,274,393	19,150
Long Term Debt	1,245,900	1,434,900	4,295,800	4,653,600	2,064,900	1,931,316	2,175,042	2,108,570	1,840,355	1,260,349	735,547	729,980	800,851	323,814	0
Long Term Debt Total	0	1,434,900	4,295,800	4,653,600	2,064,900	1,931,316	2,175,042	2,108,570	1,840,355	1,260,349	735,547	0	0	0	0
Long Term Investments	881,000	0	0	0	0	0	0	0	234,258	234,930	0	0	0	0	0
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Debt	260,700	438,300	3,671,300	3,968,600	1,580,100	1,336,408	1,618,629	1,401,960	896,035	862,476	670,606	444,096	754,699	169,607	-18,771
Net Invested Capital	7,734,200	6,888,300	6,163,600	6,193,900	5,056,900	4,610,159	4,469,256	0	0	0	0	0	0	0	0
Net Receivables	1,362,500	1,456,300	1,277,600	512,900	835,000	718,207	952,552	620,175	454,759	551,269	596,647	503,796	316,252	36,937	0
Net Tangible Assets	0	4,929,200	1,729,200	1,642,800	3,039,600	2,676,465	2,336,654	2,025,044	1,647,297	1,218,213	654,130	0	0	0	0
Net Working Capital	2,379,300	1,345,600	1,439,500	1,415,900	1,314,500	1,102,417	1,384,013	1,350,708	1,526,505	803,849	555,996	704,830	286,377	109,723	18,775
Non Current Assets Total	8,436,000	7,002,800	6,442,200	6,632,400	5,308,700	4,768,483	4,315,034	4,214,672	3,083,113	2,849,617	2,213,302	1,945,798	1,674,605	694,264	300
Non Current Liabilities Other	271,500	1,322,100	941,700	1,092,800	875,900	650,740	587,901	840,427	673,406	699,801	318,495	0	0	0	0
Non Current Liabilities Total	4,184,000	3,292,400	5,348,900	5,846,000	3,037,700	2,622,421	2,796,098	2,994,696	2,513,761	1,960,150	1,054,042	927,083	853,367	345,326	381
Non Currrent Assets Other	926,600	962,700	813,300	862,100	930,600	190,642	211,650	465,995	290,494	332,312	115,902	87,149	160,658	54,699	173
Noncontrolling Interest In Consolidated Entity	0	126,800	606,600	559,500	545,900	572,014	566,295	545,640	448,560	475,103	1,061,126	0	0	0	0
Other Assets	0	953,600	813,300	1,789,000	930,600	922,000	835,284	885,325	414,273	912,421	431,060	309,126	158,955	51,627	0
Other Current Assets	267,500	122,800	75,000	58,800	51,600	55,608	63,589	137,222	77,474	72,900	55,843	13,388	63,359	11,106	79
Other Current Liab	3,050,800	3,709,100	2,725,800	1,893,100	1,807,300	1,618,025	1,798,721	1,458,469	1,155,415	1,181,668	1,198,801	1,005,933	1,180,812	366,515	0
Other Liab	0	1,246,900	412,100	368,100	721,300	691,100	621,056	886,126	673,406	699,801	318,495	197,103	49,213	21,512	0
Other Stockholder Equity	2,410,600	3,001,400	3,311,500	3,238,400	3,192,500	2,472,522	2,124,773	2,093,802	1,753,658	1,365,396	657,511	523,949	923,841	211	44
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	3,303	1,922	0
Property Plant And Equipment Gross	7,679,300	7,709,400	7,052,800	5,760,200	4,353,800	3,820,892	3,479,213	3,328,770	2,356,638	1,936,839	1,781,589	1,635,587	1,513,947	639,565	127
Property Plant And Equipment Net	5,767,200	6,040,100	5,619,300	5,760,200	4,353,800	3,820,892	3,479,213	3,328,770	2,356,638	1,936,839	1,781,589	1,635,587	1,513,947	639,565	127
Property Plant Equipment	0	5,361,000	4,902,200	4,843,300	4,023,200	3,820,892	3,479,213	3,328,770	2,356,638	1,936,839	1,781,589	1,635,587	1,513,947	639,565	0
Retained Earnings	4,089,900	2,056,000	-796,100	-1,027,100	401,200	225,838	236,786	-44,852	-83,454	-123,271	3,579	1,956	186,150	-56,521	-12,329
Retained Earnings Total Equity	0	2,056,000	-796,100	-1,027,100	401,200	225,838	236,786	-44,852	-83,454	-123,271	3,579	0	0	0	0
Short Long Term Debt	0	524,200	0	0	0	2,378	5,621	39,664	1,840,355	1,228,069	0	0	0	0	0
Short Long Term Debt Total	2,044,200	2,641,900	5,012,800	5,578,100	2,395,000	1,933,694	2,191,650	2,148,234	1,840,355	1,260,349	747,576	729,980	804,865	325,064	0
Short Term Debt	143,400	596,400	76,000	100,200	78,600	2,378	16,608	39,664	1,840,355	1,228,069	12,029	0	4,014	1,250	0
Short Term Investments	0	0	0	0	0	0	0	40,024	234,258	234,930	0	0	0	0	0
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Assets	15,032,600	13,549,100	11,641,400	10,499,800	9,132,400	8,005,415	8,117,993	7,621,927	6,105,124	5,196,288	4,413,808	4,253,702	3,621,109	1,274,393	19,150
Total Current Assets	6,596,600	6,546,300	5,199,200	3,867,400	3,823,700	3,236,932	3,802,959	3,407,255	3,022,011	2,346,671	2,200,506	2,307,904	1,946,504	580,129	18,850
Total Current Liabilities	4,217,300	5,200,700	3,759,700	2,451,500	2,509,200	2,134,515	2,418,946	2,056,547	1,495,506	1,542,822	1,644,510	1,603,074	1,660,127	470,406	75
Total Liab	8,401,300	8,493,100	9,108,600	8,297,500	5,546,900	4,756,936	5,215,044	5,051,243	4,009,267	3,502,972	2,698,552	2,530,157	2,513,494	815,732	456
Total Permanent Equity	0	0	0	0	0	0	2,902,949	2,570,684	0	0	0	0	0	0	0
Total Stockholder Equity	6,488,300	5,056,000	2,532,800	2,202,300	3,585,500	3,248,479	2,902,949	2,570,684	2,095,857	1,693,316	1,715,256	419,754	1,107,615	458,661	-1,971
Treasury Stock	0	-327,000	-169,100	-167,300	-165,700	-160,800	-152,585	-151,547	-150,804	-142,731	0	0	0	0	0
Warrants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2010-12-31
Accounts Payable	959,000	1,213,300	635,300	750,200	854,600	912,300	1,341,700	1,625,100	911,700	461,200	783,300	710,600	407,000	212,700	423,400	437,100	601,400	521,200	444,200	556,200	488,432	483,127	637,941	666,806	578,551	447,623	449,199	380,575	535,907	369,731	373,839	388,230	315,653	212,772	354,636	313,155	335,268	377,343	339,185	246,819	402,293	563,922	227,567	476,220	360,057	246,914	0	0	286,067	0	284,966	36,302
Accumulated Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Accumulated Other Comprehensive Income	-12,300	-2,100	-1,500	-1,100	-1,500	15,100	15,700	16,300	17,300	-9,000	-9,200	-9,500	-9,100	-10,500	-10,800	-11,100	-8,300	-21,300	-21,700	-22,200	-22,428	-24,934	-25,109	-25,134	-25,381	-23,539	-23,816	-24,135	-24,439	-21,896	-22,302	-22,696	-23,289	-24,052	-24,543	-24,850	-24,298	-12,590	-12,667	-10,277	-6,988	-3,495	-3,576	-87	-61	-2,357	0	0	-2,376	0	-1,049	-1,049
Additional Paid In Capital	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,277,739	0	0	0	2,245,788	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Capital Lease Obligations	798,300	820,100	801,300	707,300	682,800	689,400	705,700	754,300	775,400	792,500	848,900	740,900	1,019,600	1,028,500	520,800	450,700	377,700	377,500	282,100	293,400	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Capital Stock	100	100	100	100	100	100	100	100	100	100	100	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Capital Surpluse	0	3,265,100	3,237,000	3,223,200	3,201,600	2,930,700	2,915,800	2,882,000	2,874,000	2,868,000	2,862,500	2,852,700	2,846,200	2,841,500	2,832,700	2,825,600	2,812,300	2,806,800	2,800,400	2,722,500	2,633,750	2,631,191	2,308,502	2,294,692	2,277,739	2,259,338	2,255,922	2,251,133	2,245,788	1,967,441	1,930,697	1,907,469	1,904,751	1,558,237	1,552,118	1,552,621	1,508,425	1,505,851	1,496,456	1,198,365	657,499	659,661	658,355	418,322	0	0	0	0	0	0	-	0
Cash	1,783,500	1,892,500	1,516,900	1,616,100	2,203,600	1,908,600	2,174,300	1,434,600	1,341,500	1,472,500	1,479,700	1,541,200	1,609,500	1,282,600	1,225,200	722,100	814,900	536,300	204,100	418,300	597,286	1,059,200	478,329	362,963	573,021	300,891	173,031	306,091	746,274	625,402	1,412,935	740,321	944,320	472,829	623,822	449,480	397,873	477,393	317,544	237,135	76,970	57,417	69,230	404,088	285,884	170,048	0	0	50,166	0	143,937	155,457
Cash And Equivalents	0	1,892,500	1,516,900	1,616,100	2,203,600	1,908,600	2,174,300	1,434,600	1,341,500	1,472,500	1,479,700	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Cash And Short Term Investments	1,783,500	1,892,500	1,516,900	1,616,100	2,203,600	1,908,600	2,174,300	1,434,600	1,341,500	1,472,500	1,479,700	1,541,200	1,609,500	1,282,600	1,225,200	722,100	814,900	536,300	204,100	418,300	597,286	1,059,200	478,329	362,963	573,021	300,891	173,031	346,145	786,298	685,393	1,549,079	974,729	1,178,578	707,078	858,071	684,419	632,803	742,306	617,540	237,135	76,970	57,417	69,230	404,088	285,884	170,048	0	0	50,166	0	143,937	155,457
Common Stock	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100	105	105	96	95	95	94	94	94	94	93	93	93	93	92	92	92	88	88	88	70	40	40	40	24	24	924,840	0	0	923,841	0	925,925	516,231
Common Stock Shares Outstanding	120,999	129,690	130,446	134,499	132,099	126,586	125,658	120,339	122,877	121,354	121,916	120,906	120,757	119,684	121,429	119,380	121,988	121,589	119,182	122,176	119,067	120,405	116,409	115,193	114,774	113,882	108,780	108,760	104,815	103,136	103,279	97,809	96,135	91,496	91,660	91,669	83,131	97,345	73,007	54,692	97,389	39,575	27,707	97,416	20,500	20,500	20,500	20,500	20,500	20,500	-	0
Common Stock Total Equity	0	0	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100	105	105	96	95	95	94	94	94	94	93	93	93	93	92	92	92	88	88	88	70	40	40	40	24	24	0	0	0	0	0	925,925	516,231
Current Deferred Revenue	64,100	79,600	75,400	74,100	40,600	78,000	90,700	57,600	46,200	46,400	30,900	26,700	51,200	28,500	28,500	73,100	21,900	17,200	26,700	67,200	25,680	33,737	27,479	37,938	25,066	49,835	30,073	25,707	22,507	25,832	28,102	29,810	24,438	13,084	28,495	32,006	25,886	15,608	17,284	19,769	31,387	29,986	194,027	260,081	237,084	202,953	0	0	189,234	0	101,601	66,339
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	48,500	0	0	47,265	53,638	268,622	476,893	398,787	379,306	217,194	180,727	188,281	201,504	297,783	342,646	358,192	345,179	418,116	429,236	310,445	169,234	200,282	204,589	107,500	0	0	0	0	0	0	-	0
Deferred Long Term Liab	0	1,078,900	847,100	577,800	535,400	913,200	171,600	105,600	111,400	770,600	790,800	91,900	99,600	94,000	41,300	44,800	96,900	81,500	60,100	70,400	40,365	122,406	58,617	32,459	33,155	46,340	50,822	45,661	45,699	0	0	0	177,236	0	0	0	204,987	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Good Will	207,800	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Intangible Assets	8,600	0	0	0	236,200	0	0	0	9,600	0	0	0	10,100	0	0	0	24,300	13,300	13,300	0	25,648	0	0	0	537	0	0	0	577	598	199	209	219	231	241	289	357	424	492	560	653	761	869	997	1,085	1,297	0	0	1,703	0	-	3,072
Inventory	3,183,100	3,180,900	2,832,300	2,854,900	2,763,600	2,689,500	2,976,300	2,893,500	2,505,100	2,831,400	2,636,200	2,312,400	1,686,200	1,485,600	1,620,200	986,500	2,122,200	2,130,400	2,314,400	2,566,500	1,865,831	2,561,106	2,540,277	2,579,744	2,213,797	2,310,692	1,875,164	2,085,958	1,863,560	1,845,595	1,308,536	1,229,299	1,174,272	1,101,182	1,306,414	1,129,207	1,102,261	1,787,465	1,711,851	1,546,255	1,445,517	1,472,637	1,537,573	1,450,518	1,497,119	1,479,728	0	0	1,516,727	0	1,469,369	376,629
Liabilities And Stockholders Equity	15,032,600	14,692,800	14,034,200	13,139,100	13,549,100	13,304,300	13,975,700	12,948,300	11,641,400	11,844,200	11,654,200	11,270,100	10,499,800	10,191,300	10,073,300	9,134,100	9,132,400	8,917,400	8,809,700	9,126,100	8,005,415	9,215,410	8,546,715	8,282,363	8,117,993	7,999,457	7,481,220	7,512,237	7,621,927	7,465,714	6,988,050	6,630,153	6,105,124	5,107,176	5,543,622	5,150,612	5,196,288	5,877,118	5,681,840	4,716,419	4,413,808	4,329,341	4,325,903	4,509,073	4,253,702	3,932,507	0	0	3,621,109	0	3,558,509	1,274,393
Long Term Debt	1,245,900	1,243,000	1,441,500	1,438,000	1,434,900	1,447,700	2,012,700	4,248,700	4,295,800	4,318,000	4,517,800	4,652,300	4,653,600	4,411,100	4,092,800	3,546,100	2,064,900	2,064,300	2,029,400	2,188,500	1,931,316	2,175,889	2,214,042	2,165,604	2,175,042	2,158,337	2,159,547	2,112,113	2,108,570	2,309,961	2,227,848	1,845,902	1,840,355	1,381,122	1,361,734	1,259,233	1,260,349	1,156,503	1,032,637	722,337	735,547	738,565	815,963	727,548	729,980	732,961	0	0	800,851	0	-	323,814
Long Term Debt Total	0	1,292,100	1,441,500	1,438,000	1,434,900	1,447,700	2,012,700	4,248,700	4,295,800	4,318,000	4,624,400	4,652,300	4,653,600	4,411,100	4,092,800	3,546,100	2,064,900	2,064,300	2,029,400	2,188,500	1,931,316	2,175,889	2,214,042	2,165,604	2,175,042	2,158,337	2,159,547	2,112,113	2,108,570	2,309,961	2,227,848	1,845,902	1,840,355	1,381,122	1,361,734	1,259,233	1,260,349	1,156,503	1,032,637	722,337	735,547	738,565	815,963	727,548	0	0	0	0	0	0	-	0
Long Term Investments	881,000	940,000	927,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	234,408	234,258	234,249	234,249	234,939	234,930	264,913	299,996	0	0	0	0	0	0	0	0	0	0	0	-	0
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Net Debt	260,700	158,400	723,200	529,200	438,300	752,300	1,800,700	3,564,900	3,671,300	3,656,700	3,890,700	3,857,600	3,968,600	4,070,400	3,356,300	3,238,800	1,580,100	1,858,300	2,062,900	2,018,700	1,336,408	1,117,931	1,740,211	1,818,083	1,618,629	1,864,277	1,986,516	1,806,022	1,401,960	1,744,223	950,777	1,105,581	896,035	908,293	737,912	809,753	862,476	679,110	728,102	497,693	670,606	681,148	746,733	323,460	444,096	562,913	0	0	754,699	0	718,784	169,607
Net Invested Capital	7,734,200	7,961,500	7,483,700	6,575,900	6,888,300	6,189,700	6,416,900	6,156,200	6,163,600	6,065,900	6,185,900	6,264,600	6,193,900	6,259,900	6,405,500	5,458,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Net Receivables	1,362,500	1,583,400	1,368,600	1,184,100	1,456,300	1,630,200	1,967,500	1,815,100	1,277,600	1,056,800	1,007,800	863,500	512,900	464,600	429,000	439,100	835,000	879,800	989,800	869,400	718,207	1,067,811	1,034,074	831,055	952,552	776,013	611,642	610,213	620,175	653,638	647,866	541,524	454,759	395,624	540,227	441,185	551,269	698,399	713,226	529,641	596,647	577,879	591,352	662,846	503,796	496,241	0	0	316,252	0	351,004	36,937
Net Tangible Assets	0	6,718,500	6,044,900	5,137,900	4,929,200	4,218,200	3,147,600	1,911,000	1,729,200	1,729,200	1,606,700	1,606,700	1,642,800	1,935,400	2,344,800	1,948,300	3,039,600	3,007,700	2,967,400	2,957,700	2,676,465	3,067,934	2,601,829	2,349,881	2,336,654	2,112,298	1,827,155	1,966,716	2,025,044	1,740,121	1,690,206	1,592,396	1,647,297	1,448,845	1,429,252	1,323,042	1,218,213	1,640,080	1,548,558	1,252,780	654,130	640,504	670,840	424,537	0	0	0	0	0	0	-	0
Net Working Capital	2,379,300	2,528,000	2,002,300	1,269,900	1,345,600	1,148,000	559,500	1,293,900	1,439,500	1,286,900	1,515,500	1,455,500	1,415,900	1,356,700	1,349,900	263,800	1,314,500	1,290,800	1,201,200	1,372,400	1,102,417	2,100,952	1,630,545	1,284,045	1,384,013	1,153,577	668,428	1,124,492	1,350,708	1,499,282	2,030,455	1,398,354	1,526,505	1,209,115	1,113,359	910,692	803,849	1,181,095	975,939	723,186	555,996	581,995	807,086	722,950	704,830	640,395	0	0	286,377	0	-	109,723
Non Current Assets Total	8,436,000	7,772,100	7,729,500	7,272,400	7,002,800	6,732,400	6,643,400	6,568,700	6,442,200	6,357,700	6,387,700	6,415,300	6,632,400	6,878,700	6,686,200	6,824,400	5,308,700	5,314,500	5,210,700	5,146,800	4,768,483	4,465,804	4,438,885	4,420,628	4,315,034	4,553,584	4,748,121	4,386,946	4,214,672	3,918,699	3,056,077	3,162,302	3,083,113	2,803,601	2,858,050	2,855,481	2,849,617	2,871,555	2,837,904	2,350,597	2,213,302	2,137,996	2,076,930	1,957,396	1,945,798	1,760,102	0	0	1,674,605	0	1,579,878	694,264
Non Current Liabilities Other	271,500	288,200	1,259,900	1,258,200	1,322,100	1,279,300	1,232,100	982,200	941,700	249,300	271,600	950,500	1,092,800	1,239,500	1,012,300	1,017,800	875,900	905,200	809,300	813,500	650,740	623,100	624,487	590,785	587,901	827,122	837,187	841,441	840,427	828,660	682,828	681,008	673,406	740,624	737,291	739,224	699,801	721,608	717,232	541,323	318,495	332,590	326,144	191,607	0	0	0	0	0	0	-	0
Non Current Liabilities Total	4,184,000	3,438,300	3,548,500	3,274,000	3,292,400	3,003,900	3,416,400	5,336,500	5,348,900	5,322,500	5,656,300	5,694,700	5,846,000	5,744,600	5,146,400	4,608,700	3,037,700	3,051,000	2,898,800	3,072,400	2,622,421	2,921,395	2,897,146	2,788,848	2,796,098	3,031,799	3,047,556	2,999,215	2,994,696	3,138,621	2,910,676	2,526,910	2,513,761	2,121,746	2,099,025	1,998,457	1,960,150	1,878,111	1,749,869	1,263,660	1,054,042	1,071,155	1,142,107	919,155	927,083	767,171	0	0	853,367	0	745,212	345,326
Non Currrent Assets Other	926,600	1,097,300	1,100,900	1,052,200	962,700	913,200	930,402	893,800	813,300	791,500	811,700	846,100	862,100	979,100	1,025,700	1,089,300	930,600	1,007,600	1,054,700	1,025,400	190,642	868,538	878,361	880,342	211,650	804,040	813,907	608,077	465,995	194,850	137,729	366,500	290,494	311,189	315,961	330,250	332,312	286,096	285,871	122,327	115,902	95,608	85,265	85,382	87,149	184,093	0	0	160,658	0	153,208	54,699
Noncontrolling Interest In Consolidated Entity	0	0	138,400	130,400	126,800	658,300	638,900	615,100	606,600	592,900	582,500	569,400	559,500	555,400	544,900	531,200	545,900	546,600	545,700	489,100	572,014	577,427	570,455	565,944	566,295	563,064	541,838	545,507	545,640	539,239	485,650	441,350	448,560	442,125	443,132	444,674	475,103	534,459	515,416	557,343	1,061,126	1,008,332	1,071,069	1,336,654	0	0	0	0	0	0	-	0
Other Assets	9,421,200	1,097,300	1,100,900	1,052,200	962,700	913,200	930,500	893,800	813,300	791,500	811,700	846,100	1,789,000	979,100	1,208,500	1,413,700	930,600	980,500	1,027,200	1,025,400	921,943	868,538	878,361	927,607	835,821	1,072,662	1,290,800	1,006,864	885,902	666,465	551,156	446,494	726,475	843,452	893,097	923,670	912,778	969,549	1,015,595	592,612	431,713	402,236	391,826	299,105	310,211	185,390	0	0	160,658	0	-	54,699
Other Current Assets	267,500	263,900	586,900	211,600	122,800	343,600	214,200	236,400	75,000	125,800	142,800	137,700	58,800	79,800	112,700	103,600	51,600	56,400	90,700	125,100	55,608	61,489	55,150	87,973	63,589	58,277	73,262	82,975	137,222	182,008	110,828	156,666	77,474	71,398	39,456	49,068	72,900	30,739	83,315	40,125	55,843	56,133	46,136	28,590	13,388	26,388	0	0	63,359	0	14,321	11,106
Other Current Liab	3,050,800	2,969,700	3,459,200	3,686,600	3,709,100	3,835,800	4,005,800	3,291,400	2,725,800	3,527,900	2,855,000	2,581,500	1,893,100	1,615,000	1,423,900	1,443,500	1,807,300	1,695,500	1,845,400	1,900,000	1,618,025	2,130,548	1,807,367	1,857,504	1,798,721	1,788,007	1,585,399	1,594,517	1,458,469	1,592,506	1,363,713	1,204,963	1,155,415	868,604	1,189,082	1,039,278	1,181,668	1,431,517	1,498,519	1,363,557	1,198,801	1,015,442	1,020,293	1,092,426	1,005,933	1,082,143	0	0	1,180,812	0	1,276,371	366,515
Other Liab	0	1,517,500	1,440,900	0	1,246,900	940,800	776,000	448,600	412,100	357,400	367,700	376,400	368,100	491,300	726,300	740,000	721,300	721,500	700,000	718,900	691,105	745,506	683,104	623,244	587,901	827,122	837,187	841,441	840,427	828,660	682,828	681,008	673,406	740,624	737,291	739,224	699,801	721,608	717,232	541,323	318,495	332,590	326,144	191,607	197,103	29,949	0	0	49,213	0	-	21,512
Other Stockholder Equity	2,410,600	2,551,600	2,639,100	2,857,200	3,001,400	2,760,100	2,745,300	2,711,800	2,704,900	2,699,500	2,694,000	2,684,500	2,678,900	2,674,500	2,667,000	2,659,800	2,646,300	2,644,300	2,638,500	2,560,500	2,472,522	2,477,289	2,154,775	2,140,956	2,124,773	2,108,252	2,104,559	2,099,451	2,093,802	1,816,741	1,779,591	1,756,969	1,753,658	1,407,381	1,405,844	1,409,633	1,365,396	1,473,668	1,496,789	1,198,088	657,511	659,166	658,779	418,235	523,949	924,840	0	0	923,841	0	15,658	211
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	4,261	0	0	3,303	0	-	1,922
Property Plant And Equipment Gross	7,679,300	5,734,800	5,701,100	6,220,200	7,709,400	5,819,200	0	0	0	0	5,576,000	5,569,200	5,760,200	5,899,600	5,477,700	5,410,700	4,353,800	4,306,900	4,156,000	4,121,400	3,820,892	3,597,266	3,560,524	3,493,021	3,479,213	3,480,922	3,457,321	3,380,082	3,328,770	3,252,234	2,504,921	2,372,904	2,356,638	1,960,149	1,964,953	1,931,811	1,936,839	1,902,006	1,822,309	1,757,985	1,781,589	1,735,760	1,685,104	1,658,291	1,635,587	1,574,712	0	0	1,513,947	0	1,426,670	639,565
Property Plant And Equipment Net	5,767,200	5,734,800	5,701,100	6,220,200	6,040,100	5,819,200	5,712,900	5,674,900	5,619,300	5,566,200	5,576,000	5,569,200	5,760,200	5,899,600	5,477,700	5,410,700	4,353,800	4,306,900	4,156,000	4,121,400	3,820,892	3,597,266	3,560,524	3,493,021	3,479,213	3,480,922	3,457,321	3,380,082	3,328,770	3,252,234	2,504,921	2,372,904	2,356,638	1,960,149	1,964,953	1,931,811	1,936,839	1,902,006	1,822,309	1,757,985	1,781,589	1,735,760	1,685,104	1,658,291	1,635,587	1,574,712	0	0	1,513,947	0	1,426,670	639,565
Property Plant Equipment	0	5,734,800	4,908,500	5,516,800	5,361,000	5,819,200	5,009,300	4,955,200	4,902,200	5,566,200	5,576,000	4,828,600	4,843,300	4,957,700	4,988,700	4,995,300	4,023,200	3,975,600	3,919,100	3,875,900	3,820,892	3,597,266	3,560,524	3,493,021	3,479,213	3,480,922	3,457,321	3,380,082	3,328,770	3,252,234	2,504,921	2,372,904	2,356,638	1,960,149	1,964,953	1,931,811	1,936,839	1,902,006	1,822,309	1,757,985	1,781,589	1,735,760	1,685,104	1,658,291	1,635,587	1,574,712	0	0	1,513,947	0	-	639,565
Retained Earnings	4,089,900	4,168,900	3,407,200	2,412,100	2,056,000	1,442,900	386,500	-817,200	-796,100	-961,400	-1,020,500	-1,068,400	-1,027,100	-728,700	-311,500	-700,600	401,200	384,300	350,800	419,100	225,838	615,540	471,958	233,830	236,786	27,952	-253,498	-108,829	-44,852	-54,713	-67,478	-141,666	-83,454	65,372	48,316	-61,683	-123,271	179,324	64,681	64,622	3,579	-15,702	16,021	6,278	1,956	710,843	0	0	186,150	0	64,233	-56,521
Retained Earnings Total Equity	0	0	3,407,200	2,412,100	2,056,000	1,442,900	386,500	-817,200	-796,100	-961,400	-1,020,500	-1,068,400	-1,027,100	-728,700	-311,500	-700,600	401,200	384,300	350,800	419,100	225,838	615,540	471,958	233,830	236,786	27,952	-253,498	-108,829	-44,852	-54,713	-67,478	-141,666	-83,454	65,372	48,316	-61,683	-123,271	179,324	64,681	64,622	3,579	-15,702	16,021	6,278	0	0	0	0	0	0	-	0
Short Long Term Debt	0	0	0	0	524,200	523,800	1,256,600	29,900	0	89,100	3,700	5,600	0	0	0	0	0	0	0	81,000	0	0	2,218,540	2,181,046	2,191,650	2,165,168	2,159,547	0	39,664	59,664	135,864	135,864	1,840,355	0	0	0	1,228,069	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Short Long Term Debt Total	2,044,200	2,050,900	2,240,100	2,145,300	2,641,900	2,660,900	3,975,000	4,999,500	5,012,800	5,129,200	5,370,400	5,398,800	5,578,100	5,353,000	4,581,500	3,960,900	2,395,000	2,394,600	2,267,000	2,437,000	1,933,694	2,177,131	2,218,540	2,181,046	2,191,650	2,165,168	2,159,547	2,112,113	2,148,234	2,369,625	2,363,712	1,845,902	1,840,355	1,381,122	1,361,734	1,259,233	1,260,349	1,156,503	1,045,646	734,828	747,576	738,565	815,963	727,548	729,980	732,961	0	0	804,865	0	862,721	325,064
Short Term Debt	143,400	130,100	132,500	85,900	596,400	597,800	1,334,600	111,600	76,000	164,100	81,800	80,500	100,200	99,700	161,400	92,200	78,600	78,200	81,500	83,500	2,378	1,242	4,498	15,442	16,608	6,831	2,159,547	0	39,664	59,664	135,864	135,864	1,840,355	0	0	0	1,228,069	0	13,009	12,491	12,029	0	0	0	0	0	0	0	4,014	0	161,250	1,250
Short Term Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	40,054	40,024	59,991	136,144	234,408	234,258	234,249	234,249	234,939	234,930	264,913	299,996	0	0	0	0	0	0	0	0	0	0	0	-	0
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Total Assets	15,032,600	14,692,800	14,034,200	13,139,100	13,549,100	13,304,300	13,975,700	12,948,300	11,641,400	11,844,200	11,654,200	11,270,100	10,499,800	10,191,300	10,073,300	9,134,100	9,132,400	8,917,400	8,809,700	9,126,100	8,005,415	9,215,410	8,546,715	8,282,363	8,117,993	7,999,457	7,481,220	7,512,237	7,621,927	7,465,714	6,988,050	6,630,153	6,105,124	5,107,176	5,543,622	5,150,612	5,196,288	5,877,118	5,681,840	4,716,419	4,413,808	4,329,341	4,325,903	4,509,073	4,253,702	3,932,507	0	0	3,621,109	0	3,558,509	1,274,393
Total Current Assets	6,596,600	6,920,700	6,304,700	5,866,700	6,546,300	6,571,900	7,332,300	6,379,600	5,199,200	5,486,500	5,266,500	4,854,800	3,867,400	3,312,600	3,387,100	2,309,700	3,823,700	3,602,900	3,599,000	3,979,300	3,236,932	4,749,606	4,107,830	3,861,735	3,802,959	3,445,873	2,733,099	3,125,291	3,407,255	3,547,015	3,931,973	3,021,357	3,022,011	2,303,575	2,685,572	2,295,131	2,346,671	3,005,563	2,843,936	2,365,822	2,200,506	2,191,345	2,248,973	2,551,677	2,307,904	2,172,405	0	0	1,946,504	0	1,978,631	580,129
Total Current Liabilities	4,217,300	4,392,700	4,302,400	4,596,800	5,200,700	5,423,900	6,772,800	5,085,700	3,759,700	4,199,600	3,751,000	3,399,300	2,451,500	1,955,900	2,037,200	2,045,900	2,509,200	2,312,100	2,397,800	2,606,900	2,134,515	2,648,654	2,477,285	2,577,690	2,418,946	2,292,296	2,064,671	2,000,799	2,056,547	2,047,733	1,901,518	1,623,003	1,495,506	1,094,460	1,572,213	1,384,439	1,542,822	1,824,468	1,867,997	1,642,636	1,644,510	1,609,350	1,441,887	1,828,727	1,603,074	1,532,010	0	0	1,660,127	0	1,824,188	470,406
Total Liab	8,401,300	7,831,000	7,850,900	7,870,800	8,493,100	8,427,800	10,189,200	10,422,200	9,108,600	9,522,100	9,407,300	9,094,000	8,297,500	7,700,500	7,183,600	6,654,600	5,546,900	5,363,100	5,296,600	5,679,300	4,756,936	5,570,049	5,374,431	5,366,538	5,215,044	5,324,095	5,112,227	5,000,014	5,051,243	5,186,354	4,812,194	4,149,913	4,009,267	3,216,206	3,671,238	3,382,896	3,502,972	3,702,579	3,617,866	2,906,296	2,698,552	2,680,505	2,583,994	2,747,666	2,530,157	2,299,181	0	0	2,513,494	0	2,569,400	815,732
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,645,361	3,172,284	2,915,825	2,902,949	2,675,362	2,368,993	2,512,223	2,570,684	2,279,360	2,175,856	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Total Stockholder Equity	6,488,300	6,861,800	6,044,900	5,268,300	5,056,000	4,218,200	3,147,600	1,911,000	2,532,800	1,729,200	1,664,400	1,606,700	2,202,300	1,935,400	2,344,800	1,948,300	3,585,500	3,007,700	2,967,400	2,957,700	3,248,479	3,067,934	2,601,829	2,349,881	2,902,949	2,112,298	1,827,155	1,966,716	2,570,684	2,279,360	2,175,856	2,038,890	2,095,857	1,890,970	1,872,384	1,767,716	1,693,316	2,174,539	2,063,974	1,810,123	1,715,256	1,648,836	1,741,909	1,761,407	419,754	1,633,326	0	0	1,107,615	0	989,109	458,661
Treasury Stock	0	0	-597,900	-496,400	-327,000	-170,600	-170,500	-170,200	-169,100	-168,500	-168,500	-168,200	-167,300	-167,000	-165,700	-165,700	-165,700	-162,200	-162,200	-161,800	-160,800	-153,968	-153,618	-153,602	-152,585	-151,547	-151,547	-151,547	-151,547	-150,804	-150,804	-150,804	-150,804	-301,608	-293,462	-143,138	-142,731	-65,186	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Warrants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0

Cash Flow

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31
Begin Period Cash Flow	2,203,600	1,341,500	1,609,500	814,900	597,300	573,021	746,274	944,320	397,873	76,970	285,884	50,166	155,457	18,771	24,690
Capital Expenditures	700,100	633,300	249,100	196,200	404,900	317,459	306,681	298,737	353,964	476,389	318,394	175,900	512,060	501,304	70
Cash And Cash Equivalents Changes	0	862,100	-268,000	794,600	217,600	24,265	-173,253	-198,046	546,447	320,903	-208,914	0	0	0	0
Cash Flows Other Operating	0	282,000	-809,600	-149,000	-267,600	317,646	-509,974	-117,779	-70,671	-119,332	-79,814	0	0	0	0
Change In Cash	-420,100	862,100	-268,000	794,600	217,600	24,265	-173,253	-198,046	546,447	320,903	-208,914	235,718	-105,291	136,686	-5,919
Change In Working Capital	-1,127,200	341,000	268,600	585,900	170,800	-78,954	23,166	382,919	-338,262	-379,559	-61,093	-118,022	-85,820	35,807	15
Change Receivables	0	-178,800	-764,700	322,100	-116,100	234,345	-332,377	-165,416	97,636	45,378	-92,851	0	0	0	0
Change To Account Receivables	93,800	-178,800	-764,700	322,100	-116,100	234,345	-332,377	-165,416	97,636	45,378	-92,851	-187,544	-279,315	-36,438	67
Change To Inventory	-409,000	-258,500	-149,300	392,200	-6,300	-3,312	-54,705	236,602	-271,892	-394,031	45,991	-80,097	-512,054	14,126	-18,849
Change To Liabilities	0	783,200	1,274,100	-63,500	345,700	-327,625	389,794	444,635	-58,280	-11,779	48,938	109,882	644,858	63,768	0
Change To Netincome	0	637,400	-220,500	-381,200	155,100	62,997	409,832	-204,574	461,094	669,609	36,979	0	0	0	0
Change To Operating Activities	0	876,100	706,400	51,100	155,600	-209,500	379,900	135,689	-74,888	42,658	0	0	0	0	0
Depreciation	571,500	533,900	483,800	581,100	447,500	378,596	299,860	232,948	207,004	188,209	118,001	97,650	56,919	1,530	43
Dividends Paid	-111,100	73,600	39,700	82,200	209,200	189,168	181,580	172,239	148,800	183,197	195,662	160,965	0	0	8
End Period Cash Flow	1,783,500	2,203,600	1,341,500	1,609,500	814,900	597,286	573,021	746,274	944,320	397,873	76,970	285,884	50,166	155,457	18,771
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	676,700	4,138,700	228,200	-827,800	528,600	520,479	379,180	353,197	206,460	-20,064	-27,065	636,533	-262,778	-502,512	-5,903
Investments	-433,000	25,000	-388,500	12,600	-712,600	-685,597	75,036	1,909,965	697	-234,929	0	0	0	0	0
Issuance Of Capital Stock	0	0	0	0	132,500	322,104	0	0	0	0	0	0	0	0	0
Net Borrowings	0	1,333,300	154,200	2,665,400	-7,000	350,000	490,000	550,000	170,000	-29,036	13,956	0	0	0	0
Net Income	2,140,500	2,972,800	315,500	-1,333,300	375,200	175,291	483,431	225,518	195,533	78,271	214,085	804,037	242,671	-44,357	-6,100
Other Cashflows From Financing Activities	-108,200	75,600	-45,100	-37,100	1,536,300	162,444	-17,131	795,286	1,128,747	1,034,081	1,443,693	980,256	904,666	639,206	-78
Other Cashflows From Investing Activities	0	-377,600	-388,500	-830,300	-307,700	-133,345	-10,097	-1,072,964	-458,846	47,711	32,692	0	0	0	0
Other Non Cash Items	-796,500	159,500	-686,200	-127,600	-201,000	318,188	-210,355	-443,957	506,409	614,600	-8,638	11,068	23,228	3,260	209
Sale Purchase Of Stock	-532,500	-156,400	-4,600	-1,600	-4,900	-8,215	-1,038	-743	-8,073	-142,731	1,757	-571,160	0	0	0
Stock Based Compensation	51,500	54,300	35,600	34,200	37,300	25,969	26,848	22,656	13,497	7,181	3,753	2,954	2,516	2,300	0
Total Cash From Financing Activities	-1,458,300	-2,899,000	-356,800	2,452,700	-3,300	-128,076	-172,103	543,955	798,136	528,185	-186,969	-357,408	384,620	639,206	-8
Total Cash From Operating Activities	1,376,800	4,772,000	477,300	-631,600	933,500	837,938	685,861	651,934	560,424	456,325	291,329	812,433	249,282	-1,208	-5,833
Total Cashflows From Investing Activities	0	-1,010,900	-388,500	-1,026,500	-712,600	-685,597	-687,011	-1,393,935	-812,113	-663,607	-313,274	0	0	0	0

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2010-12-31
Begin Period Cash Flow	1,892,500	1,516,900	1,616,100	2,203,600	1,908,600	2,174,300	1,434,600	1,341,500	1,472,500	1,479,700	1,541,200	1,609,500	1,282,600	1,225,200	722,100	814,900	536,300	204,100	418,300	597,300	1,059,200	474,980	362,963	573,021	300,891	173,031	306,091	746,274	625,402	1,412,935	740,321	944,320	472,829	623,822	449,480	397,873	477,393	317,544	237,135	76,970	57,417	69,230	404,088	285,884	170,048	8,728	6,255	50,166	224,607	143,937	0
Capital Expenditures	82,700	135,300	207,300	239,800	241,800	165,000	108,200	118,300	107,100	57,400	47,200	37,400	38,200	37,600	55,100	65,300	95,900	102,900	100,700	105,400	125,307	76,462	90,754	24,936	39,530	46,705	110,720	109,726	104,112	82,853	68,602	43,170	65,055	64,846	121,668	102,395	217,514	133,582	65,166	60,127	116,488	96,822	48,932	56,152	46,395	65,382	40,727	23,396	8,026	134,103	72,118
Cash And Cash Equivalents Changes	0	0	-99,200	-587,500	295,000	-265,700	739,700	93,100	-131,000	-7,200	-61,500	-68,300	326,900	57,400	503,100	-92,800	278,600	332,200	-214,200	-179,000	-461,914	580,871	115,366	-210,058	272,130	127,860	-133,060	-440,183	120,872	-787,533	672,614	-203,999	471,491	-150,993	174,342	51,607	-79,520	159,849	80,409	160,165	19,553	-11,813	-334,858	118,204	0	0	0	0	0	0	0
Cash Flows Other Operating	0	0	-912,000	-107,100	283,000	-111,900	300,600	-189,700	33,800	-91,300	-262,600	-489,500	-515,700	-253,700	-562,700	1,183,100	43,000	39,700	218,400	-568,700	626,139	-58,676	-142,464	-107,353	-407,279	-291,398	164,526	24,177	-216,906	69,957	128,593	-99,423	-167,963	125,211	-78,991	51,072	-93,023	7,983	-30,881	-3,411	-8,435	-6,236	-34,026	-31,117	0	0	0	0	0	0	0
Change In Cash	-109,000	375,600	-99,200	-587,500	295,000	-265,700	739,700	93,100	-131,000	-7,200	-61,500	-68,300	326,900	57,400	503,100	-92,800	278,600	332,200	-214,200	-179,000	-461,914	584,220	112,017	-210,058	272,130	127,860	-133,060	-440,183	120,872	-787,533	672,614	-203,999	471,491	-150,993	174,342	51,607	-79,520	159,849	80,409	160,165	19,553	-11,813	-334,858	118,204	115,836	161,320	2,473	-43,911	-174,441	80,670	0
Change In Working Capital	59,300	-617,700	-429,600	-139,200	88,500	-23,800	132,700	143,600	-170,000	104,400	101,800	232,400	686,500	108,900	-78,300	-131,200	236,600	224,800	-181,700	-108,900	-124,872	164,215	45,954	-164,251	202,346	272	22,860	-202,312	283,594	31,247	166,887	-98,809	71,974	-316,142	1,886	-95,980	-135,254	-65,080	-198,139	18,914	804	216,799	-386,077	107,381	51,386	110,983	-200,281	-80,110	-84,365	9,086	0
Change Receivables	0	0	-184,600	272,300	173,800	337,300	-152,400	-537,500	-220,800	-49,000	-144,300	-350,600	-48,300	-35,600	10,000	396,000	45,500	110,000	-120,400	-151,200	349,604	-33,737	-203,019	121,497	-176,539	-164,371	-1,429	9,962	-364,295	5,772	279,872	-86,765	-58,009	144,603	-99,042	110,084	147,130	14,827	-183,585	67,006	-18,768	13,473	71,494	-159,050	0	0	0	0	0	0	0
Change To Account Receivables	220,900	-214,800	-184,600	272,300	173,800	337,300	-152,400	-537,500	-220,800	-49,000	-144,300	-350,600	-48,300	-35,600	10,000	396,000	45,500	110,000	-120,400	-151,200	349,604	-33,737	-203,019	121,497	-176,539	-164,371	-1,429	9,962	33,463	-5,772	-106,342	-86,765	-58,009	144,603	-99,042	110,084	147,130	14,827	-183,585	67,006	-18,768	13,473	71,494	-159,050	-7,555	-47,993	48,992	-180,988	-21,934	56,686	0
Change To Inventory	-2,200	-263,200	-52,300	-91,300	-74,100	286,900	-82,900	-388,400	326,300	-195,200	-59,800	-220,600	222,900	144,500	-49,500	74,300	-18,700	137,000	70,100	-194,700	43,541	33,972	197,469	-278,294	294,484	-170,451	59,699	-238,437	182,550	-28,527	78,544	4,035	-161,062	-26,211	-83,612	-1,007	-15,493	-129,444	-149,120	-99,974	14,826	214,203	-205,098	22,060	-165,276	150,933	-119,898	54,144	135,120	-259,880	14,126
Change To Liabilities	0	618,000	-237,400	-218,000	-274,700	-423,100	-697,000	1,242,700	-29,300	-325,700	-267,500	905,500	493,700	600	-13,000	-544,800	210,900	-34,700	-147,500	317,000	-540,847	148,067	44,097	21,058	85,408	336,825	-29,928	-2,511	393,245	-6,796	-4,127	63,202	366,313	-390,044	178,318	-212,867	-238,277	9,392	177,275	39,831	4,923	9,832	-234,491	266,870	109,882	0	0	0	644,858	0	63,768
Change To Netincome	0	209,600	274,400	45,700	214,000	211,400	2,203,800	63,900	319,300	-22,800	152,200	42,000	105,200	240,300	-321,800	-404,900	35,300	8,400	13,700	97,700	-115,088	34,969	115,261	27,855	222,370	218,600	-29,086	-2,052	-220,905	3,622	-51,275	63,984	406,792	-37,000	59,090	32,212	577,214	44,024	9,372	38,999	22,521	-12,660	14,472	12,646	0	0	0	0	0	0	0
Change To Operating Activities	0	-757,700	-93,100	-93,100	103,300	-224,900	-372,500	372,500	-1,428,800	674,300	-536,100	536,100	245,200	203,300	-30,400	-418,100	122,000	-100,300	-10,600	144,500	-523,129	308,606	41,840	-36,790	380,003	300,637	-85,862	28,674	135,689	-84,020	37,062	-78,392	-74,888	0	0	0	42,658	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	139,300	143,900	149,600	150,100	145,000	135,900	128,400	124,600	122,600	120,300	119,200	121,700	189,200	137,900	131,000	123,000	116,200	112,900	109,800	108,600	100,933	95,380	94,290	87,993	84,808	80,457	71,068	63,527	62,037	58,388	53,928	58,595	55,495	50,670	50,947	49,892	46,662	70,110	36,589	34,848	31,584	29,064	29,211	28,142	26,506	25,664	23,728	21,752	19,097	17,779	0
Dividends Paid	30,300	24,600	27,100	26,000	44,100	9,900	9,800	9,800	9,700	9,800	10,500	9,700	9,700	9,700	9,800	53,000	53,100	52,800	54,200	49,100	48,939	48,790	45,872	45,567	47,148	45,077	44,816	44,539	57,173	38,535	39,008	37,523	39,179	38,781	38,188	32,652	36,595	32,595	84,346	29,661	29,163	30,386	103,137	32,976	12,860	15,081	12,860	0	0	0	0
End Period Cash Flow	1,783,500	1,892,500	1,516,900	1,616,100	2,203,600	1,908,600	2,174,300	1,434,600	1,341,500	1,472,500	1,479,700	1,541,200	1,609,500	1,282,600	1,225,200	722,100	814,900	536,300	204,100	418,300	597,286	1,059,200	474,980	362,963	573,021	300,891	173,031	306,091	746,274	625,402	1,412,935	740,321	944,320	472,829	623,822	449,480	397,873	477,393	317,544	237,135	76,970	57,417	69,230	404,088	285,884	170,048	8,728	6,255	50,166	224,607	143,937
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	220,300	412,400	-139,200	197,800	881,300	1,214,900	1,848,500	194,000	44,500	203,600	31,200	-51,100	122,800	-201,400	-448,100	-301,100	405,400	356,700	21,800	-255,300	-7,698	357,058	281,488	-110,369	324,108	310,183	19,979	-275,090	159,610	89,225	168,129	-63,767	254,970	-142,122	63,502	30,110	-114,150	53,322	-159,680	200,444	32,260	85,960	-300,199	154,914	297,216	286,066	345,348	-292,097	-226,378	179,370	0
Investments	-232,800	399,100	418,300	12,700	9,100	6,600	5,100	4,200	-161,300	-87,600	-79,100	2,200	2,600	4,100	2,500	3,400	-119,100	13,800	-241,300	-260,600	0	0	0	-58,800	35,012	-127,223	40,054	-30	129,968	1,681,873	98,264	-140	697	-2	695	4	29,981	35,100	-300,010	0	0	0	0	0	0	0	0	0	0	0	0
Issuance Of Capital Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Borrowings	0	-204,300	-1,055,800	525,000	3,675,100	-1,399,400	-19,300	-28,000	193,600	-170,800	-28,600	-5,300	276,200	343,700	676,300	1,369,200	-1,200	-1,200	-252,900	248,300	376,602	-7,833	-20,455	1,686	499,832	-1,664	33,138	-41,306	303,259	3,440	513,194	513,194	-180,000	0	349,617	383	-265,022	-43,495	297,573	-18,092	-375	-79,410	94,474	-733	0	0	0	0	0	0	0
Net Income	-48,400	786,400	1,030,400	385,900	656,100	1,084,200	1,235,800	-3,300	189,100	78,700	69,900	-22,200	-286,000	-397,800	413,000	-1,062,500	69,100	86,300	-21,600	241,400	-346,673	84,599	395,554	41,811	260,386	347,226	-104,151	-20,030	71,762	56,444	120,648	-23,336	-121,541	55,495	158,460	103,119	-320,849	170,012	45,836	183,272	102,097	-64,894	107,171	69,711	264,263	186,563	555,742	-202,531	-184,480	306,397	0
Other Cashflows From Financing Activities	7,100	-66,500	-107,300	75,100	-297,600	351,300	-22,200	44,100	-21,700	-39,500	-19,800	35,900	230,100	336,400	964,200	2,283,100	-45,200	-10,900	-11,400	29,200	-12,591	-13,365	-23,401	27,836	215,117	198,990	802,586	200,000	62,659	84,127	700,075	-145,879	653,743	-1,509	-7,752	-383	-122	126,812	771,755	261,908	720,719	585,590	138,117	-733	-11,565	-3,248	70,670	914,700	143,477	21,738	567,466
Other Cashflows From Investing Activities	0	834,500	-159,700	-138,900	-85,400	-81,800	-329,700	-107,200	92,400	-30,200	23,100	-23,100	2,000	-1,195,300	1,612,900	-1,249,900	-23,200	11,300	-140,600	-155,200	94,340	21,866	-181,207	-68,344	372,694	-134,572	-169,001	-79,218	-1,100,699	249,844	-119,540	-102,569	-580,116	11,481	55,505	54,284	45,237	12,310	-17,310	7,474	28,309	12,023	-4,639	-3,001	0	0	0	0	0	0	0
Other Non Cash Items	8,300	121,600	-961,200	-10,800	-52,700	69,700	116,000	26,500	-52,500	-61,300	-227,100	-345,300	-303,600	-6,600	-1,005,900	1,188,500	56,400	5,800	214,300	-477,500	621,262	-80,168	-155,989	-66,917	-144,837	-278,513	206,049	6,946	-194,272	-82,224	-154,110	-13,351	362,667	173,791	-79,400	49,351	631,106	-23,230	17,567	-10,843	-4,764	10,512	-11,754	-2,632	-7,454	28,771	2,401	-12,650	28,179	-22,911	0
Sale Purchase Of Stock	-149,900	-115,000	-100,000	-167,600	-156,400	0	0	0	0	0	0	0	-1,800	0	0	200	-3,400	-100	-400	-1,000	-6,832	-350	-16	-1,017	-10,532	0	0	0	-743	86,680	51,575	0	8,073	-4,073	-3,593	-407	-110,138	-32,593	335,957	0	1,757	0	0	0	487,891	0	0	0	0	0	0
Stock Based Compensation	23,800	8,800	9,700	9,200	29,400	6,900	10,300	7,700	10,900	6,900	10,400	7,400	5,100	10,400	9,100	9,600	8,900	8,400	12,000	8,000	7,361	5,591	7,945	5,072	8,784	4,222	7,817	6,025	6,325	3,622	9,359	3,350	4,740	3,363	2,439	2,955	1,804	2,454	1,503	1,420	1,003	773	957	1,020	1,247	660	540	507	605	614	0
Total Cash From Financing Activities	-179,200	-381,000	-231,300	-646,400	-500,900	-1,398,800	-1,005,600	6,300	-121,300	-180,600	-60,800	5,900	202,100	277,900	514,500	1,458,200	-103,600	-35,800	-95,400	231,500	-313,763	194,311	22,721	-31,345	-14,415	-47,751	-24,092	-85,845	4,132	51,585	525,761	-37,523	796,637	-20,350	54,640	-32,791	-40,588	59,117	557,409	-47,753	-13,444	-109,796	-30,020	-33,709	-142,323	-146,127	-332,864	263,906	92,358	-146,919	639,206
Total Cash From Operating Activities	303,000	547,700	68,100	437,600	1,123,100	1,379,900	1,956,700	312,300	151,600	261,000	78,400	-13,700	161,000	-163,800	-393,000	-235,800	501,300	459,600	122,500	-149,900	117,609	433,520	372,242	-85,433	363,638	356,888	130,699	-165,364	263,722	172,078	236,731	-20,597	320,025	-77,276	185,170	132,505	103,364	186,904	-94,514	260,571	148,748	182,782	-251,267	211,066	343,611	351,448	386,075	-268,701	-218,352	313,473	0
Total Cashflows From Investing Activities	0	-105,800	64,000	-378,700	-327,200	-246,800	-211,400	-225,500	-161,300	-87,600	-79,100	-60,500	-36,200	-56,700	381,600	-1,315,200	-119,100	-91,600	-241,300	-260,600	-265,760	-54,596	-271,961	-93,280	-77,093	-181,277	-239,667	-188,974	-146,982	-1,011,196	-89,878	-145,879	-645,171	-53,367	-65,468	-48,107	-142,296	-86,172	-382,486	-52,653	-115,751	-84,799	-53,571	-59,153	0	0	0	0	0	0	0

Income Statement

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31
Cost Of Revenue	35,975,800	42,151,700	26,366,200	16,745,600	23,595,100	26,583,478	20,827,224	15,021,539	12,386,139	19,354,343	18,615,966	19,007,902	14,513,994	203,971	0
Depreciation And Amortization	571,500	-226,800	10,700	-95,400	-29,800	10,634	12,964	222,176	197,417	180,382	111,479	97,650	56,919	1,530	43
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Ebit	1,986,500	4,153,200	597,200	-1,416,800	649,000	335,615	980,351	524,587	387,441	153,728	324,367	914,380	305,045	-29,650	-6,109
Ebitda	2,558,000	3,926,400	607,900	-1,512,200	619,200	346,249	993,315	746,763	584,858	334,110	435,846	1,012,030	361,964	-28,120	-6,066
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Extraordinary Items	0	0	0	0	0	0	-20,153	0	0	0	0	0	0	0	0
Gross Profit	2,349,000	4,678,600	887,200	-1,629,700	913,100	602,615	959,413	898,885	737,790	473,812	535,489	1,130,785	446,344	6,700	228
Income Before Tax	2,885,800	3,557,600	327,600	-1,331,200	479,500	208,798	799,015	363,168	282,258	55,859	230,766	805,312	242,671	-47,803	0
Income Tax Expense	723,800	584,800	12,100	2,100	104,300	33,507	315,584	137,650	86,725	-22,412	16,681	1,275	63,747	8,656	-12,209
Interest Expense	102,000	246,000	317,500	258,200	159,600	169,911	154,427	150,045	106,187	98,764	93,784	108,629	0	1,388	10
Interest Income	0	248,000	309,000	270,000	169,300	164,324	156,674	148,623	96,003	0	0	0	0	0	0
Minority Interest	-39,800	96,000	-84,500	59,100	55,800	46,976	67,914	54,707	49,132	116,508	174,545	0	0	0	0
Net Income	2,140,500	2,876,800	315,500	-1,333,300	319,400	128,315	415,517	170,811	146,401	-38,237	39,540	1,956	242,671	-44,357	6,100
Net Income Applicable To Common Shares	0	2,876,800	231,000	-1,392,400	319,400	128,315	415,517	170,811	146,401	-38,237	39,540	804,037	242,671	0	0
Net Income From Continuing Ops	2,866,500	2,972,800	315,500	-1,333,300	375,200	175,291	483,431	225,518	195,533	78,271	214,085	0	0	0	0
Net Interest Income	-84,600	-246,000	-317,500	-258,200	-159,600	-169,911	-154,427	-150,045	0	0	0	0	0	0	0
Non Operating Income Net Other	0	-66,100	79,900	-22,200	0	0	-25,451	0	0	0	0	0	0	0	0
Non Recurring	0	900	-3,000	-379,000	-29,900	-43,094	1,458	11,374	-1,004	-895	-183	0	0	0	0
Operating Income	1,986,500	4,153,200	597,200	-1,416,800	649,000	358,120	730,218	498,883	360,111	150,654	319,859	920,433	305,690	-41,752	6,110
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	36,338,300	42,627,900	26,626,800	17,005,400	23,889,900	26,871,067	21,054,961	15,410,167	12,764,822	19,678,396	18,831,779	19,220,583	14,653,920	246,372	6,338
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Reconciled Depreciation	593,300	533,900	13,300	581,100	447,500	378,596	299,860	0	0	0	0	0	0	0	0
Research Development	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling And Marketing Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling General Administrative	362,500	468,700	247,300	248,500	284,000	276,955	214,773	166,452	181,266	143,671	104,334	120,443	86,183	15,859	0
Tax Provision	997,500	584,800	12,100	2,100	104,300	33,507	315,584	137,650	86,725	0	0	0	0	0	0
Total Operating Expenses	362,500	476,200	260,600	259,800	294,800	287,589	227,737	388,628	378,683	324,053	215,813	212,681	139,926	42,401	6,338
Total Other Income Expense Net	899,300	-595,600	-269,600	85,600	-169,500	63,683	221,766	2,956	29,338	4,864	4,874	-4,163	1,373	-6,051	0
Total Revenue	38,324,800	46,830,300	27,253,400	15,115,900	24,508,200	27,186,093	21,786,637	15,920,424	13,123,929	19,828,155	19,151,455	20,138,687	14,960,338	210,671	228

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2010-12-31
Cost Of Revenue	9,086,600	9,505,700	8,647,200	8,718,600	9,877,200	11,191,400	12,138,200	8,944,900	7,865,700	7,018,000	6,696,100	4,786,400	3,835,600	3,980,800	2,317,500	6,611,700	6,066,300	6,246,500	6,493,200	4,791,200	6,650,832	7,331,158	6,959,978	5,641,510	6,207,767	4,830,919	5,081,235	4,707,303	4,508,124	4,275,279	3,526,042	2,712,094	3,430,787	3,026,304	3,189,715	2,739,333	4,918,049	4,873,533	5,146,178	4,416,583	4,619,944	4,856,344	4,498,562	4,641,116	5,136,018	5,111,680	4,449,748	4,848,336	5,366,931	4,166,227	229,111
Depreciation And Amortization	139,300	140,100	149,600	-17,300	-81,900	136,800	-51,600	153,000	3,200	120,300	119,200	121,700	2,900	137,900	131,000	123,000	3,000	112,900	109,800	108,600	2,763	95,380	94,290	87,993	2,609	80,457	71,068	63,527	59,147	56,036	51,060	55,933	53,016	48,133	48,562	47,706	44,495	68,010	34,662	33,215	29,949	27,435	27,563	26,532	26,506	25,664	23,728	21,752	19,097	17,779	0
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Ebit	-53,300	1,018,300	1,375,700	532,400	955,600	1,400,000	1,706,600	91,000	243,200	121,000	151,200	79,200	-126,900	-111,700	133,600	-1,418,500	120,800	115,400	10,800	361,400	-440,048	252,359	427,274	96,030	503,155	588,223	-110,016	-1,011	161,849	134,803	236,244	-8,309	-156,666	94,904	275,113	174,090	-479,474	289,664	85,518	258,020	143,764	-58,010	139,847	98,766	274,703	214,177	584,930	-172,934	-167,563	332,058	0
Ebitda	86,000	1,158,400	1,525,300	515,100	873,700	1,536,800	1,655,000	244,000	246,400	241,300	270,400	200,900	-124,000	26,200	264,600	-1,295,500	123,800	228,300	120,600	470,000	-437,285	347,739	521,564	184,023	505,764	668,680	-38,948	62,516	220,996	190,839	287,304	47,624	-103,650	143,037	323,675	221,796	-434,979	357,674	120,180	291,235	173,713	-30,575	167,410	125,298	301,209	239,841	608,658	-151,182	-148,466	349,837	0
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Extraordinary Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Gross Profit	52,100	1,227,800	510,400	576,400	969,100	1,573,200	1,939,500	196,800	378,300	168,700	201,800	138,400	-180,500	-313,300	198,300	-1,334,200	235,200	184,000	66,800	425,000	-357,958	315,202	484,105	161,266	328,221	648,032	-64,010	47,170	240,444	237,925	332,425	88,091	-70,298	191,336	360,949	255,803	-398,049	386,470	155,531	329,860	196,491	2,536	179,731	156,731	-185,658	283,526	627,267	-132,230	-590,490	578,533	0
Income Before Tax	-53,600	1,048,700	1,378,300	512,400	924,600	1,275,300	1,367,100	-9,400	184,800	99,000	74,400	-30,600	-283,200	-162,200	551,300	-1,437,100	81,400	108,300	-32,100	321,900	-481,002	253,815	383,232	52,753	463,081	551,205	-176,194	-39,077	123,805	88,117	197,082	-45,836	-185,888	67,020	248,869	152,257	-501,674	265,272	59,310	232,951	119,676	-84,204	118,139	77,155	265,537	186,564	555,742	-202,531	-163,531	331,949	0
Income Tax Expense	-5,200	254,600	347,900	126,500	268,500	191,100	131,300	-6,100	-4,300	20,300	4,500	-8,400	2,800	235,600	138,300	-374,600	12,300	22,000	-10,500	80,500	-134,329	61,349	95,545	10,942	202,695	203,979	-72,043	-19,047	52,043	31,673	76,434	-22,500	-64,347	11,525	90,409	49,138	-180,825	95,260	13,474	49,679	17,579	-19,311	10,969	7,444	1,275	20,949	33,814	25,060	18,955	25,631	0
Interest Expense	8,600	-22,700	13,800	18,700	29,400	52,700	85,500	78,400	74,400	82,000	80,800	80,300	73,100	70,400	65,500	49,200	38,300	39,700	42,100	39,500	40,976	42,289	43,448	43,198	39,556	36,990	40,698	37,183	38,051	38,527	35,940	37,527	29,093	28,026	26,876	22,192	22,933	24,374	26,202	25,255	24,223	26,242	21,708	21,611	195,381	26,901	28,443	31,408	78,147	0	1,388
Interest Income	0	22,800	13,300	18,000	31,100	55,300	78,300	83,300	79,500	64,200	75,000	90,300	89,100	72,800	70,600	37,500	41,600	43,500	41,600	42,600	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	-7,700	10,000	3,800	18,300	27,800	32,100	17,800	-23,800	-19,600	582,500	19,100	12,400	19,400	23,900	3,400	16,200	16,800	10,600	12,200	7,069	12,928	15,534	11,445	18,494	32,861	5,512	11,047	17,204	14,333	17,118	6,052	-2,012	12,696	22,649	15,798	-43,239	29,042	24,877	105,828	70,941	-45,045	90,344	58,305	0	0	0	0	0	0	0
Net Income	-48,400	786,400	1,020,400	382,100	637,800	1,056,400	1,203,700	-3,300	165,300	59,100	47,900	-41,300	-298,400	-417,200	389,100	-1,065,900	53,000	69,500	-32,200	229,200	-353,742	179,538	272,153	30,366	241,892	314,365	-109,663	-31,077	54,558	42,111	103,530	-29,388	-119,529	42,799	135,810	87,321	-277,611	140,970	20,959	77,444	31,156	-19,848	16,826	11,406	-537,818	186,564	555,742	-202,531	-184,480	306,397	0
Net Income Applicable To Common Shares	0	786,400	1,020,400	382,100	637,800	1,056,400	1,203,700	-21,100	165,300	59,100	47,900	-41,300	-298,400	-417,200	389,100	-1,065,900	52,900	69,500	-32,200	229,200	-353,742	179,538	272,153	30,366	241,892	314,365	-109,663	-31,077	54,558	42,111	103,530	-29,388	-119,529	42,799	135,811	87,321	-277,610	140,970	20,959	77,444	31,156	-19,848	16,827	11,406	264,263	186,563	555,742	0	242,671	0	0
Net Income From Continuing Ops	-48,400	794,100	1,030,400	385,900	656,100	1,084,200	1,235,800	-3,300	189,100	78,700	69,900	-22,200	-286,000	-397,800	413,000	-1,062,500	81,200	86,300	-21,600	229,300	-306,762	179,537	272,157	30,359	260,386	347,226	-104,151	-20,030	71,762	56,444	120,648	-23,336	-121,541	55,495	158,460	103,119	-320,849	170,012	45,836	183,272	102,097	-64,893	107,170	69,711	0	0	0	0	0	0	0
Net Interest Income	-8,600	-22,700	-13,800	-18,700	-29,400	-52,700	-85,500	-78,400	-74,400	-82,000	-80,800	-80,300	-73,100	-70,400	-65,500	-49,200	-38,300	-39,700	-42,100	-39,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Operating Income Net Other	0	0	2,300	-2,300	0	-69,900	3,800	0	19,600	60,300	0	0	0	0	0	-22,200	0	0	0	0	0	0	0	0	0	0	-25,451	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Recurring	0	0	200	-1,600	600	0	200	100	-2,600	200	0	-600	83,400	8,700	-471,100	0	1,900	-32,600	800	0	-22	-43,745	594	79	518	28	29	883	-7	8,159	3,222	0	129	-142	-632	-359	-733	18	6	-186	-135	-48	0	0	0	0	0	0	0	0	0
Operating Income	-53,300	1,077,100	1,389,200	532,400	955,600	1,400,000	1,706,600	91,000	291,100	100,900	147,500	57,700	-328,100	-342,700	620,800	-1,366,800	123,000	151,900	9,500	364,600	-446,236	286,433	422,263	95,660	253,516	587,157	-111,149	694	139,827	129,710	234,770	-5,424	-178,362	90,052	273,796	172,410	-481,506	284,103	87,850	260,207	142,326	-55,599	133,027	100,105	284,901	220,109	579,506	-164,083	-165,569	331,979	0
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	9,192,000	10,151,000	8,753,700	8,780,500	9,972,700	11,361,600	12,293,300	9,000,300	7,949,300	7,085,500	6,754,400	4,837,600	3,900,000	4,030,100	2,378,200	6,697,100	6,177,400	6,311,200	6,549,700	4,851,600	6,739,132	7,403,672	7,021,226	5,707,037	6,281,954	4,891,766	5,128,345	4,752,896	4,608,748	4,375,335	3,620,475	2,805,609	3,538,722	3,127,730	3,277,500	2,823,085	5,002,239	4,975,882	5,213,853	4,486,422	4,674,244	4,914,527	4,545,266	4,697,742	4,665,358	5,175,077	4,497,456	4,882,692	4,941,966	4,412,732	0
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Reconciled Depreciation	143,300	3,800	149,600	1,900	145,000	135,900	128,400	124,600	3,200	120,300	119,200	121,700	189,200	137,900	131,000	123,000	116,200	112,900	109,800	108,600	100,933	95,380	94,290	87,993	84,808	80,457	71,068	63,527	62,037	58,388	53,928	58,595	55,495	50,670	50,947	49,892	46,662	70,110	36,589	34,848	31,584	29,064	29,211	28,142	26,506	25,664	23,728	21,752	19,097	17,779	0
Research Development	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling And Marketing Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling General Administrative	105,400	92,900	104,200	60,000	93,800	168,200	153,200	53,500	80,400	64,100	55,000	47,800	61,500	46,600	57,900	82,500	108,100	64,700	53,600	57,600	85,537	69,920	58,685	62,813	71,578	58,275	41,090	43,830	41,477	44,020	43,373	37,582	54,919	53,293	39,223	36,046	39,695	34,339	33,013	36,624	24,351	30,748	19,141	30,094	42,401	38,942	25,286	13,814	86,183	0	15,859
Tax Provision	-5,200	254,600	347,900	126,500	268,500	191,100	131,300	-6,100	-4,300	20,300	4,500	-8,400	2,800	235,600	138,300	-374,600	12,300	22,000	-10,500	80,500	-134,329	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Operating Expenses	105,400	645,300	106,500	61,900	95,500	170,200	155,100	55,400	83,600	67,500	58,300	51,200	64,400	49,300	60,700	85,400	111,100	64,700	56,500	60,400	88,300	72,514	61,248	65,527	74,187	60,847	47,110	45,593	100,624	100,056	94,433	93,515	107,935	101,426	87,785	83,752	84,190	102,349	67,675	69,839	54,300	58,183	46,704	56,626	-470,660	63,397	47,708	34,356	-424,965	246,505	0
Total Other Income Expense Net	-300	-28,400	988,200	-20,000	-31,000	-124,700	-339,500	-100,400	-35,500	79,800	11,700	-37,500	34,800	270,800	479,200	31,700	-4,400	28,700	-300	-3,200	6,232	53,416	3,823	212	248,603	1,010	-24,376	-3,471	22,036	-11,225	-4,970	-2,885	21,438	5,136	2,581	2,398	3,498	5,525	-2,344	-1,815	1,708	-2,315	6,820	-1,339	2,412	-6,664	4,626	-4,537	2,038	-30	0
Total Revenue	9,138,700	10,733,500	9,157,600	9,295,000	10,846,300	12,764,600	14,077,700	9,141,700	8,244,000	7,186,700	6,897,900	4,924,800	3,655,100	3,667,500	2,515,800	5,277,500	6,301,500	6,430,500	6,560,000	5,216,200	6,292,874	7,646,360	7,444,083	5,802,776	6,535,988	5,478,951	5,017,225	4,754,473	4,748,568	4,513,204	3,858,467	2,800,185	3,360,489	3,217,640	3,550,664	2,995,136	4,520,000	5,260,003	5,301,709	4,746,443	4,816,435	4,858,880	4,678,293	4,797,847	4,950,360	5,395,206	5,077,015	4,716,106	4,776,441	4,744,760	210,671

Latest Income Statement (annual, 2023-12-31)

Gross Profit (+$)
totalRevenue	38,324,800
Cost of Revenue	-35,975,800
Gross Profit	2,349,000	2,349,000

Operating Income (+$)
Gross Profit	2,349,000
Operating Expense	-362,500
Operating Income	1,986,500	1,986,500

Operating Expense (+$)
Research Development	0
Selling General Administrative	362,500
Selling And Marketing Expenses	0
Operating Expense	362,500	362,500

Net Interest Income (+$)
Interest Income	0
Interest Expense	-102,000
Other Finance Cost	-17,400
Net Interest Income	-84,600

Pretax Income (+$)
Operating Income	1,986,500
Net Interest Income	-84,600
Other Non-Operating Income Expenses	0
Income Before Tax (EBT)	2,885,800	1,087,200 EBIT - interestExpense = 1,884,500 2,864,300 2,242,500
Interest Expense	102,000
Earnings Before Interest and Taxes (EBIT)	1,986,500	2,987,800
Earnings Before Interest and Taxes (EBITDA)	2,558,000

After tax Income (+$)
Income Before Tax	2,885,800
Tax Provision	-997,500
Net Income From Continuing Ops	2,866,500	1,888,300
Net Income	2,140,500
Net Income Applicable To Common Shares	0

Non-recurring Events
Discontinued Operations	0
Extraordinary Items	0
Effect of Accounting Charges	0
Other Items	0
Non Recurring	0
Other Operating Expenses	36,338,300
Total Other Income/Expenses Net	899,300	84,600

Technical Analysis of PBF Energy Inc
The psychology behind the price

Technical indicators reflecting market sentiment and the collective psychology of you and other traders. Your emotions and other traders' emotions, such as fear and greed, play a significant role in driving price movements.

General trend

First of all, I'm going to put something in the back of your mind. One of the most stable factors that gives you more confidence as a trader: the general trend of PBF Energy Inc. The general trend of PBF Energy Inc is BULLISH with 85.7% confidence. It is very important for your mental being to use each indicator with this in mind. But beware, also the general trend flips once in a while! You can use moving averages to determine PBF Energy Inc's overall trend. For convenience I use the most commonly used moving averages: 20, 50, 100 & 200. Of course you can use other moving averages or other indicators to determine the trend.

Indicator phases

Some of the indicators I use have 3 zones: overbought, oversold and neutral. Transitions between these zones (market phases) provide valuable trading signals and insights. Expecially with the general trend mind, I use the highlighted phases:

Indicator zone transitions	Bullish trend (85.7%)		Bearish trend (-85.7%)
Overbought to neutral	Bullish pullback	=	Bearish reversal
Upper to lower neutral	Bullish correction	=	Bearish continuation
Nuetral to oversold	Oversold	=	Oversold
Oversold to neutral	Bullish reversal	=	Bearish correction
Lower to upper neutral	Bullish continuation	=	Bearish pullback
Nuetral to overbought	Overbought	=	Overbought

1. Price Targets

1.1 Support & Resistance

Support and resistance are levels on a price chart that act as barriers or zones where the price of an asset tends to stop, reverse, or experience a significant amount of buying or selling pressure.

Support is a price level at which demand for an asset is strong enough to prevent the price from falling further.
Resistance is a price level at which selling pressure becomes significant enough to prevent the price of an asset from rising further.

Score

Let's take a look at the Support & Resistance of PBF Energy Inc.

The long score for the Support & Resistance is 0/1.
The longshort score for the Support & Resistance is 0/(-1 +1).

Between support/resistance: The price is trading between support and resistance lines.

The bullish price targets are: 62.88.

The bearish price targets are: 55.77 > 54.85 > 52.84.

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PBF Energy Inc Daily Support & Resistance Chart

2. Trend Indicators

2.1 Moving Averages

Shows the moving average of the selected period.

Moving averages are lagging trend indicators.
There are many types of moving averages.
Moving averages are also used within other indicators.

Score

Let's take a look at the Moving Averages of PBF Energy Inc. The current mas is .

The long score for the Moving Averages is 13/14.
The longshort score for the Moving Averages is 12/(-14 +14).

MA 20 trending up: The MA 20 is trending up. +1
Close < MA 20: The price is below the MA 20. -1
MA 20 > MA 50: The MA 20 is higher than the MA 50. +1
MA 20 > MA 100: The MA 20 is higher than the MA 100. +1
MA 20 > MA 200: The MA 20 is higher than the MA 200. +1
MA 50 trending up: The MA 50 is trending up. +1
Close > MA 50: The price is above the MA 50. +1
MA 50 > MA 100: The MA 50 is higher than the MA 100. +1
MA 50 > MA 200: The MA 50 is higher than the MA 200. +1
MA 100 trending up: The MA 100 is trending up. +1
Close > MA 100: The price is above the MA 100. +1
MA 100 > MA 200: The MA 100 is higher than the MA 200. +1
MA 200 trending up: The MA 200 is trending up. +1
Close > MA 200: The price is above the MA 200. +1

Directionalities and relatives.

Moving Average	Amount of candles	vs. MA 50	vs. MA 100	vs. MA 200
MA 20	20
MA 50	50	-
MA 100	100	-	-
MA 200	200	-	-	-

Explanation: https://www.youtube.com/watch?v=xwW8h0lrQ-I

Shows the moving average of the selected period.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

There are various kinds of moving averages:

Simple moving average (SMA);
Exponential moving average (EMA);
Smoothed moving average (SMMA);
Linear weighted moving average (LWMA).

The moving average looks at a certain period of time and it calculates the price average. The various types of averages are using various formulas. Don’t worry, you don’t have to memorize any formula. All moving averages are calculated automatically by basically every charting software you use. But it’s good to know how moving averages are actually calculated.

Simple moving average

SMA is calculated by summing up the price closures of the selected period. The price is then divided by the selected period. For example, when using the 21 day moving average you sum up all the closing prices for each day and divide that by 21. The result is a line on the chart representing the average. Because it’s an average in the selected timeframe, the trend is always lagging. An moving average looks like this on the chart:

Source: Tradingview.com

In this case, the blue line represents a 21 day moving average. Because the average is based on results from the past, the indicator will always lag behind. For example, when price would suddenly go up, the moving average won't immediately follow.

All other moving averages discussed below look the same on the chart. The only difference is that the line will move in different directions based on the maths behind the used indicators and the amount of days used to determine the average.

Exponential moving average

The EMA gives more weight to the latest closing prices by giving them more value in the equation. EMA is calculated by adding a certain percentage to the latest closing prices:

EMA = (CLOSE (i) * P) + (EMA (i - 1) * (1 - P))

Where:

CLOSE (i) = current period close price.
EMA (i - 1) = value of the Moving Average of a preceding period.
P = the percentage of using the price value.

Smoothed moving average

A smoothed moving average is an exponential moving average with a long lookback period. Older prices are reduced in weight but are never left out in the calculation. Unlike SMA and EMA where prices are removed when they are beyond the selected period. SMMA is a combination of the SMA and EMA. The main advantage is that it smooths out fluctuations in price.

Linear weighted moving average

The LWMA gives the latest price the highest weight and then lineary scales down with each price before that. The result is that the LWMA reacts quicker to changes in price than the SMA or EMA. The formula:

LWMA = ((Pn∗W1)+(Pn−1∗W2)+(Pn−2∗W3)...) / ∑W

Where:

P = Price for the period.
n = The most recent period, n-1 is the prior period, and n-2 is two periods prior.
W = The assigned weight to each period, with the highest weight going first and then descending linearly based on the number of periods being used.

Moving averages are widely used by many traders. Which moving average you need depends on your trading strategy. Common practise is using a combination of multiple periods. For example, the EMA21, EMA50, EMA100 and EMA200. How does that look on a chart:

Source: Tradingview.com

The lowest (purple) line on the chart represents the EMA200 then following up the EMA100, EMA50 and EMA21.

You can use moving averages to determine a trend. The 200 moving average is mostly used as a baseline for determining the current trend:

When the 200 moving average is moving up it is considered a bullish trend.
When the 200 moving average is down it is considered a bearish trend.
When moving averages are flatlined, there is no clear trend so you should look for market structure, consolidation or trend reversals. Depending on how you want to trade.

This is not set in stone. Most trading strategies use multiple moving averages each with different settings. While one strategy might use the EMA20, the other uses the SMA21. There can be hundreds of different variations. Moving averages can also be used as support and resistance. More often than not, prices will bounce on moving averages.

PBF Energy Inc Daily Moving Averages Chart

2.2 Moving Average Convergence/Divergence (MACD)

Shows the momentum of the selected period based on two moving averages.

MACD is a lagging momentum indicator.
Uses two moving averages.
Can show buy or sell signals based on momentum.
Can show overbought. and oversold. levels.

Score

Let's take a look at the Moving Average Convergence/Divergence (MACD) of PBF Energy Inc. The current macd is 0.51924956.

The long score for the Moving Average Convergence/Divergence (MACD) is 1/4.
The longshort score for the Moving Average Convergence/Divergence (MACD) is -2/(-4 +4).

MACD line < signal line: The MACD line is below the signal line, which indicates a bearish signal in the market. This means that the negative momentum is currently stronger than the average momentum, suggesting that sellers are more active than buyers, and there's a higher probability of the PBF Energy Inc price going down in the near term. -2
MACD > 0: The MACD is above the zero line (centerline), it indicates a bullish signal for PBF Energy Inc. This means that the short-term moving average is higher than the long-term moving average, signaling positive momentum and suggesting a higher likelihood of the PBF Energy Inc price continuing to rise in the near future. It indicates that buyers are gaining control, and there is optimism in the market, leading to potential price increases. +1
Trending down: The MACD line is trending down. This indicates that the short-term moving average is falling faster than the long-term moving average, suggesting negative momentum in the market. This signals that sellers are becoming more active and insecure, leading to potential price decreases as traders anticipate further losses and are willing to sell at lower prices. -1

PBF Energy Inc Daily Moving Average Convergence/Divergence (MACD) Chart

2.3 Directional Movement Index (DMI)

The DMI is a collection of 3 indicators: +DI (Plus Direction Indicator), -DI (Minus Direction Indicator) and ADX (Average Directional Index). The ADX helps you determine the strength of a trend.

Score

Let's take a look at the Directional Movement Index (DMI) of PBF Energy Inc. The current adx is 20.36.

The long score for the Directional Movement Index (DMI) is 1/7.
The longshort score for the Directional Movement Index (DMI) is 1/(-7 +7).

PLUS_ID > MINUS_DI: The +DI line is above the -DI line. This indicates a bullish signal in the market, as the positive directional movement is currently stronger than the negative directional movement, showing that buyers have the upper hand. Market psychology suggests that traders are optimistic, expecting further price increases, and are more willing to buy PBF Energy Inc shares, leading to potential upward momentum in its price. +1
PLUS_ID > MINUS_DI && ADX < 25 && ADX trending down: The ADX is below 25 and indicates a weak or no trend. Also, the ADX is declining so there is no trend indication.

PBF Energy Inc Daily Directional Movement Index (DMI) Chart

2.4 Parabolic SAR

Shows the current trend and potential entry and exit signals.

Parabolic SAR (stop and reverse) is a lagging trend indicator.
Shows the current trend.
Shows potential entry signals.
Shows potential exit signals.
Can be used to place trailing stoplosses..

Score

Let's take a look at the Parabolic SAR of PBF Energy Inc. The current sar is 57.95.

The long score for the Parabolic SAR is 0/1.
The longshort score for the Parabolic SAR is -1/(-1 +1).

Close < SAR: The price is below the SAR. It's generally considered a bearish signal. -1

PBF Energy Inc Daily Parabolic SAR Chart

3. Momentum Indicators

3.1 Relative Strength Index (RSI)

Measures the speed and change of price movements.

Leading momentum indicator, meaning the signals are instant.
Ranges between 0 and 100.
Above 70 is considered overbought.
Below 30 is considered oversold.
Above or below 50 can also be used to determine price trend or support and resistance.
RSI divergence looks at a deviation between RSI and price movement. Penketrading automatically calculates RSI divergences.
Can be used in many different ways

Score

Let's take a look at the Relative Strength Index (RSI) of PBF Energy Inc. The current rsi is 54.09. The current phase is Continuation in bull market.

The long score for the Relative Strength Index (RSI) is 4/13.
The longshort score for the Relative Strength Index (RSI) is 4/(-13 +13).

Continuation in bull market: Uptrend continues after a consolidation or pullback. Hold or add to existing positions.
Trending up: The RSI is trending up. +1

Measures the speed and change of price movements.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

The RSI measures the magnitude of recent price changes to determine if the asset is overbought or oversold.

Overbought (RSI above 70) means that the trading price is above its intrinsic value. This might indicate a sell or short signal.
Oversold (RSI below 30) means that the trading price is below its intrinsic value. This might indicate a buy or long signal.
RSI levels above or below 50 can also be used to determine a trend.
RSI divergence looks at a deviation between RSI and price movement.
Can be used in many different ways.

Original usage

Keep in mind that almost every indicator can be used in different ways. Even beyond the orginal settings. The relative strength index was developed by J. Welles Wilder. Wilder recommended a smoothing period of 14 days. That means a 14 day moving average (read more about this setting below). Another quote from the wikipedia page:

Wilders also considers the RSI 50 line as both support and resistance. I recommend to always read the original settings first before using an indicator. Many traders and websites are using their own version of the indicator which might be confusing.

How you can use RSI (Divergence)

First and foremost, there is no real right or wrong usage of the RSI indicator. You can use it in any way you want. Wilder recommends using a 14 day average but you can make it 50 or 100 if you like. Just keep in mind that using an indicator is just part of a larger trading plan. In other words, it’s not recommended to do any trading or investing based on a single indicator like the RSI.

The RSI is measured on a scale between 0 and 100. From 30 till 0 is considered oversold. and from 70 -100 is overbought. The RSI is a leading indicator, meaning the signals are instant.

I like to use the RSI as a trend\momentum indicator and not as an overbought or oversold indicator. I use the middle (50) as the baseline. When prices go above RSI 50 the trend is bullish and can indicate long positions. When below 50 it is considered bearish and can indicate short positions. Other traders use the 70 and 30 levels as overbought/oversold depending on the used strategy. The RSI indicator looks like this:

Source: Tradingview.com

The general concensus is that an RSI above 70 indicates that the security is overbought. In other words, the price this security is trading for is to high and should come down. So if RSI hits 70 or above this might indicate a sell signal or taking a short position (expecting the price will go down). Although RSI above 70 indicates the security is trading above it's fair value, that does not mean the price will go down.

Use tradingview to add indicators

I highly recommend using tradingview to add indicators to a chart. It has all the indicators you can think off and can add them for free (up to three indicators) to any chart you want. You can see that the levels 30 and 70 are marked with a dotted line. If you want you can remove these lines or give it another colour using Tradingview. You can also adjust the moving average used. You can also find RSI indicators made by the community that include other settings like RSI divergences.

Tradingview

Use Tradingview to (back)test your strategies and add hundreds of indicators created by the community.

View tool on Tradingview.com

RSI divergence

RSI is not only used to determine momentum but can also spot reversals or continuations of the trend. A reversal means that the trend is going in the opposite direction. From bullish to bearish or from bearish to bullish. These reversals can be spotted by looking at the price and the direction of the RSI. When the price is going up but the RSI is going down that means there is a divergence. This is also the case when RSI goes up but price is going down.

There are four types of divergences:

Regular bullish divergence
Regular bearish divergence
Hidden bullish divergence
Hidden bearish divergence

Regular bullish divergence

With a regular bullish divergence, the price is making lower highs but the oscillator (in this case the RSI) is making higher lows. A regular bullish divergence might indicate the end of the current trend. You’ll see regular bullish divergences mostly at the end of a downtrend. But that does not mean that every regular bullish divergence is a trend reversal.

Price is making lower highs
RSI is making higher lows
Indicating bullish reversal (price might go up)

Source: Tradingview.com

Regular bearish divergence

With a regular bearish divergence the price is making higher highs but the oscillator (in this case the RSI) is making lower highs. This might indicate the end of an uptrend.

Price is making higher highs
RSI is making lower highs
Indicating bearish reversal

Source: Tradingview.com

Hidden bullish divergence

With a hidden bullish divergence, the price is making a higher low while the RSI is making a lower low. This might indicate bullish trend continuation.

Price is making higher lows
RSI is making lower lows
Indicating bullish continuation

Source: Tradingview.com

As you have noticed, you can have multiple divergences in a row.

Hidden bearish divergence

With a hidden bearish divergence, price is making lower highs but RSI is making higher highs. This might indicate bearish trend continuation.

Price is making lower highs
RSI making higher highs
Indicating bearish continuation

Source: Tradingview.com

You can find many cheatsheets of RSI divergences online. Search for "RSI divergence overview" and you'll find a lot of examples. You can print these to learn the various types of divergences.

PBF Energy Inc Daily Relative Strength Index (RSI) Chart

3.2 Stochastic Oscillator

Compares a certain price to multiple prices ranging over time.

Leading momentum indicator, meaning the signals are instant.
Used to determine overbought and oversold areas much like the RSI.
Ranges between 0 and 100.
Above 80 is considered overbought.
Below 20 is considered oversold.
Consists of two lines named K and D.
K compares the highest high and lowest low on the selected price range.
The D line is a moving average of the K line.
Can be used to spot divergences

Score

Let's take a look at the Stochastic Oscillator of PBF Energy Inc. The current phase is Correction in bull market.

The long score for the Stochastic Oscillator is 3/6.
The longshort score for the Stochastic Oscillator is 2/(-6 +6).

STOCH < 50: The STOCH %K is below 50. There are more sellers than buyers. -1
STOCH %K line > STOCH %D line: The STOCH %K line is above the STOCH %D line, which indicates a bullish signal in the market. This means that the positive momentum is currently stronger than the average momentum, suggesting that buyers are more active than sellers, and there's a higher probability of the PBF Energy Inc price going up in the near term. +2
Trending up: The STOCH %K is trending up. +1

PBF Energy Inc Daily Stochastic Oscillator Chart

3.3 Commodity Channel Index (CCI)

Measures the difference between the current price and the historical average price.

Lagging or leading Momentum indicator
When the CCI is above zero, the price is above the historical average
When the CCI is below zero, the price is below the historical average
Used for spotting trends
- If the CCI moves from negative or near zero to positive 100 that might indicate an uptrend
- If the CCI moves from positive or near zero to negative -100 that might indicate a downtrend

Score

Let's take a look at the Commodity Channel Index (CCI) of PBF Energy Inc. The current cci is -48.91633866.

PBF Energy Inc Daily Commodity Channel Index (CCI) Chart

3.4 Chande Momentum Oscillator (CMO)

Measures the difference between the sum of recent gains and the sum of recent losses. Then divides the result by the sum of all price movements in that period.

Lagging momentum indicator
Ranges between +100 and -100
Considered overbought above +50
Considered oversold below -50
It's possible to add a moving average that acts as a signal line

Score

Let's take a look at the Chande Momentum Oscillator (CMO) of PBF Energy Inc. The current cmo is 4.87998169.

The long score for the Chande Momentum Oscillator (CMO) is 1/1.
The longshort score for the Chande Momentum Oscillator (CMO) is 1/(-1 +1).

CMO > 0: The CMO is above 0, the momentum of the price is positive, indicating a potential uptrend in the price. +1

PBF Energy Inc Daily Chande Momentum Oscillator (CMO) Chart

3.5 Williams %R

Shows the current price relative to the highest high over the last 14 days.

Lagging momentum indicator
Ranging between 0 and -100
Above -20 is considered overbought
Below -80 is considered oversold
Is prone to give false signals

Score

Let's take a look at the Williams %R of PBF Energy Inc. The current willr is -53.49206349.

The long score for the Williams %R is 0/1.
The longshort score for the Williams %R is 0/(-1 +1).

WILLR between -80 and -20: The Williams %R is between -80 and -20. This indicates that PBF Energy Inc is trading in a neutral price range, neither oversold nor overbought, suggesting a balanced market condition without any extreme price signals.

4. Volatility Indicators

4.1 Bollinger Bands

Shows if the price is to high or to low relative to an average.

Lagging volatility indicator
Uses 3 bands: one upper, one lower and one in the middle
Works best when the middle band reflects an intermediate trend (MA20).
When the price is moving closer to the upper band, the market might be overbought
When the price is moving closer to the lower band, the market might be oversold

Score

Let's take a look at the Bollinger Bands of PBF Energy Inc.

PBF Energy Inc Daily Bollinger Bands Chart

4.2 Average True Range (ATR)

Measures market volatility

Leading volatility indicator
Can be used to determine stop-loss positions
Calculated by:
- Current high minus the current low
- Current high minus the previous close
- Current low minus the previous close
The larger the range of the candles, the greater the ATR value

Score

Let's take a look at the Average True Range (ATR) of PBF Energy Inc. The current atr is 1.84671089.

PBF Energy Inc Daily Average True Range (ATR) Chart

5. Volume Indicators

5.1 On-Balance Volume (OBV)

Measures market volatility

Leading momentum indicator
Calculation:
- If the closing price is above the previous closing price: OBV = previous OBV + current volume
- If the closing price is below the previous closing price: OBV = previous OBV - current volume
- If the closing price is the same as the previous closing price than the OBV is the same.
Can be used to confirm price trends
Can be used with divergences

Score

Let's take a look at the On-Balance Volume (OBV) of PBF Energy Inc. The current obv is -85,384,408.

PBF Energy Inc Daily On-Balance Volume (OBV) Chart

5.2 Money Flow Index (MFI)

Measures the flow of money in and out of a security

Lagging momentum indicator
Looks like RSI but uses volume as an extra metric (RSI only considers price)
Above 80 is considered overbought
Below 20 is considered oversold
Can be used with divergences

Score

Let's take a look at the Money Flow Index (MFI) of PBF Energy Inc. The current mfi is 37.77.

The long score for the Money Flow Index (MFI) is 0/2.
The longshort score for the Money Flow Index (MFI) is -1/(-2 +2).

MFI < 50: -1

PBF Energy Inc Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

Type	Notification	Date
Currently no notifications for PBF Energy Inc.

6.2. Trading Signals

Below you will find trading signals as the indicator is commonly used. This doesn't mean you should use it that way. Learn from these, but don't use them blindly. I recommend using at least 4 indicators, 1 from each category: trend, momentum, volatility and volume.

Date	Indicator	Signal
2023-12-05	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2023-12-06	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
2023-12-07	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-12	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-13	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-14	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-15	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2023-12-18	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-19	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-20	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-22	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-27	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-28	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-01-02	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-01-03	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-01-04	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-01-08	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-10	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-01-11	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-16	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-17	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-01-18	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-19	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-01-22	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
2024-01-24	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-01-25	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2024-01-26	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-01-29	STOCH	LONG EXIT		The %K line crosses below the %D line.
	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2024-01-30	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-01-31	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-02	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2024-02-05	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-02-06	STOCH	LONG EXIT		The %K line crosses below the %D line.
	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2024-02-07	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-02-12	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-13	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2024-02-14	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
2024-02-16	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-20	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2024-02-21	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-22	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-02-28	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-03-01	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-03-04	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-03-05	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-06	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-07	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-03-08	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
2024-03-11	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-12	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-03-13	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-03-14	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-18	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
2024-03-19	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-03-21	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-25	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-03-28	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-04-02	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2024-04-03	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-05	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-08	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-09	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
2024-04-10	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
2024-04-11	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-15	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-16	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-04-18	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-04-19	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-04-22	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-25	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-04-26	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.

6.3. Candlestick Patterns

Date	Candlestick Pattern

6.4. Technical Score

Let's check the technical score of PBF Energy Inc based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	54.087
Ma 20	Greater than	Ma 50	58.583
Ma 50	Greater than	Ma 100	54.314
Ma 100	Greater than	Ma 200	49.841
Open	Greater than	Close	57.120
Total			4/5 (80.0%)

Create your own Symbol Scanner

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Quick analysis of PBF Energy Inc (30 sec.)

What can you expect buying and holding a share of PBF Energy Inc? (30 sec.)

How much money do you get?

What is your share worth?

+ What do you gain per year?

For what price can you sell your share?

1. Valuation of PBF Energy Inc (5 min.)

$57.78

$54.80

$58.81 - $159.73

$113.62 - $214.54

2. Growth of PBF Energy Inc (5 min.)

Is PBF Energy Inc growing?

How much money is PBF Energy Inc making?

How much money comes from the company's main activities?

3. Financial Health of PBF Energy Inc (5 min.)

4. Comparing to competitors in the Oil & Gas Refining & Marketing industry (5 min.)

Industry Rankings (Oil & Gas Refining & Marketing)

What can you expect buying and holding a share of PBF Energy Inc? (5 min.)

What can you expect buying and holding a share of PBF Energy Inc?

Speculation

Investing

How much money are you going to get?

When do you get the money?

How sure are you?

Linear %

Fundamentals of PBF Energy Inc

About PBF Energy Inc

Financial Health

Valuation

1.1. Profitability of PBF Energy Inc.

1.1. Profitability

1.1.1. Net Profit Margin

Trends

Compared to industry (Oil & Gas Refining & Marketing)

1.1.2. Return on Assets

Trends

Compared to industry (Oil & Gas Refining & Marketing)

1.1.3. Return on Equity

Trends

Compared to industry (Oil & Gas Refining & Marketing)

1.2. Operating Efficiency of PBF Energy Inc.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

Compared to industry (Oil & Gas Refining & Marketing)

1.2.2. Operating Ratio

Trends

Compared to industry (Oil & Gas Refining & Marketing)

1.3. Liquidity of PBF Energy Inc.

1.3. Liquidity

1.3.1. Current Ratio

Trends

Compared to industry (Oil & Gas Refining & Marketing)

1.3.2. Quick Ratio

Trends

Compared to industry (Oil & Gas Refining & Marketing)

1.4. Solvency of PBF Energy Inc.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Trends

Compared to industry (Oil & Gas Refining & Marketing)

1.4.2. Debt to Equity Ratio

Trends

Compared to industry (Oil & Gas Refining & Marketing)

2. Market Valuation of PBF Energy Inc

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

Compared to industry (Oil & Gas Refining & Marketing)

PBF Energy Inc
Buy, Hold or Sell?