PBF PBF Energy Inc. Class A Common Stock
$73.28
Price · Aug 19, 2026
Fundamentals as of Jul 30, 2026
52W Range
$22–$76
96% of range
Analyst Rating
HOLD
21 analysts
Price Target
$67
P/E (TTM)
-19.5
ROE
-2.9%
Net Profit Margin
-0.54%
About PBF Energy Inc. Class A Common Stock Company overview from Wikipedia
PBF Energy Inc. is a petroleum refining and logistics company that produces and sells transportation fuels, heating oils, lubricants, petrochemical feedstocks, and other petroleum products. The company owns and operated 6 refineries throughout the United States, located in Chalmette, Louisiana; Toledo, Ohio; Paulsboro, New Jersey; the Delaware City Refinery in Delaware City; Torrance, California; Martinez, California. PBF produces a range of products including gasoline, ultra-low-sulfur diesel (ULSD), heating oil, jet fuel, lubricants, petrochemicals and asphalt.
Read more
PBF Energy Inc. is a petroleum refining and logistics company that produces and sells transportation fuels, heating oils, lubricants, petrochemical feedstocks, and other petroleum products. The company owns and operated 6 refineries throughout the United States, located in Chalmette, Louisiana; Toledo, Ohio; Paulsboro, New Jersey; the Delaware City Refinery in Delaware City; Torrance, California; Martinez, California. PBF produces a range of products including gasoline, ultra-low-sulfur diesel (ULSD), heating oil, jet fuel, lubricants, petrochemicals and asphalt.
In February 2020, with the acquisition of the Martinez Refinery, PBF Energy currently owns and operates six domestic oil refineries and related assets with a combined processing capacity, known as throughput, of approximately 1,000,000 bpd, and a weighted average Nelson Complexity Index of 13.2.
On November 30, 2022, PBF Energy acquired of the common units representing limited partner interests in PBF Logistics.
History and acquisitions
PBF was formed in 2008 as a joint venture by Petroplus Holdings and the private equity companies Blackstone Group and First Reserve (the PBF in PBF Energy stands for Petroplus, Blackstone, and First Reserve), each committing $667 million in equity. In September 2010, Petroplus announced plans to sell its 32.62 percent stake to its partners for $91 million as PBF acquired the Paulsboro refinery from Valero Energy. PBF then acquired the Toledo refinery from Sunoco in December 2010 for approximately $400 million. PBF went public in December 2012 with a $533 million initial public offering.
In 2015 PBF acquired the 189,000 BPD Chalmette, Louisiana refinery from ExxonMobil and its partner, the state-owned Petroleos de Venezuela, for $322 million, in a deal that included interests in chemical facilities, pipelines and other assets at the site located just ten minutes from downtown New Orleans.
In July 2016, PBF acquired the 155,000 BPD ExxonMobil refinery in Torrance, California for $537.5M. The acquisition included ownership interests in several crude gathering and transportation pipelines, product pipelines, products terminals and crude and products storage facilities, and increased PBF's total throughput capacity to approximately 900,000 barrels per day, making it the fourth largest independent refiner in North America.
PBF's refineries in Paulsboro (NJ) and Delaware City (DE) have been cited by environmentalists for processing crude oil from the Amazon River Basin in South America. In 2015, the Delaware City and Paulsboro refineries were processing more than 3,300 and 2,666 barrels per day of crude originating in the Amazon, respectively. The company had 3,165 employees as of 2017 with annual revenue of $21,787 million.
In June 2019, PBF agreed to purchase Shell's Martinez, California oil refinery. The sale was finalized on February 1, 2020.
Refineries
As of October 2023, PBF owns and operates six oil refineries, with a combined processing capacity (known as throughput) of approximately 1,000,000 bpd and a weighted average Nelson Complexity Index of 13.2.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
PBF Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$73.28
Market Cap
—
P/E (TTM)
-19.5
EPS (TTM)
$-1.39
Revenue (TTM)
$29.33B
Div Yield
—
ROE
-2.9%
Debt/Equity
0.4
52W Range
$22 – $76
PBF Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$29.33B
2016-12-31
→
2025-12-31
EPS
$-1.39
2016-12-31
→
2025-12-31
Free Cash Flow
$-783M
2016-12-31
→
2025-12-31
Margins
-0.54%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
PBF
Peer Median
P/E (TTM)
-19.5
16.4
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
PBF
Peer Median
Operating Margin
-0.19%
—
Net Profit Margin
-0.54%
2.5%
ROA
-1.2%
3.8%
ROE
-2.9%
14.4%
ROIC
-0.50%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
PBF
Peer Median
Debt / Equity
0.4
—
Current Ratio
1.2
1.2
Quick Ratio
0.1
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
PBF
Peer Median
Revenue YoY
-11.4%
—
Revenue CAGR 3Y
-14.4%
—
Revenue CAGR 5Y
14.2%
—
EPS YoY
-27.7%
—
Net Income YoY
-25.6%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
PBF
Peer Median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
—
Payout Ratio
—
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| Aug. 14, 2026 | $0.2750 |
| May 14, 2026 | $0.2750 |
| Feb. 25, 2026 | $0.2750 |
| Nov. 14, 2025 | $0.2750 |
| Aug. 14, 2025 | $0.2750 |
| May 15, 2025 | $0.2750 |
| Feb. 27, 2025 | $0.2750 |
| Nov. 13, 2024 | $0.2750 |
| Aug. 15, 2024 | $0.2500 |
| May 15, 2024 | $0.2500 |
| Feb. 28, 2024 | $0.2500 |
| Nov. 14, 2023 | $0.2500 |
| Aug. 16, 2023 | $0.2000 |
| May 16, 2023 | $0.2000 |
| Feb. 28, 2023 | $0.2000 |
| Nov. 10, 2022 | $0.2000 |
| Feb. 24, 2020 | $0.3000 |
| Nov. 13, 2019 | $0.3000 |
| Aug. 14, 2019 | $0.3000 |
| May 14, 2019 | $0.3000 |
PBF Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
HOLD
21 analysts
- Strong Buy 0 0.0%
- Buy 1 4.8%
- Hold 11 52.4%
- Sell 7 33.3%
- Strong Sell 2 9.5%
12-Month Price Target
13 analysts · 2026-08-16
Median
$71.00
Mean
$66.69
Now
$73.28
Low
$38.00
High
$84.00
Median target
$71.00
-3.1%
Mean target
$66.69
-9.0%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.45%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $6.22 | $4.21 | 2.0% |
| March 31, 2026 | $-0.88 | $-0.71 | -0.17% |
| Dec. 31, 2025 | $0.49 | $-0.10 | 0.59% |
| Sept. 30, 2025 | $-0.52 | $-0.67 | 0.15% |
| June 30, 2025 | $-1.03 | $-1.11 | 0.08% |
| March 31, 2025 | $-3.09 | $-3.15 | 0.06% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| PBF | — | -19.5 | -11.4% | -0.54% | -2.9% | — |
| MPC | — | 12.3 | -4.4% | 3.0% | 23.1% | — |
| PSX | — | 12.0 | -7.5% | 3.3% | 15.6% | — |
| VLO | $109.56B | 21.5 | -5.5% | 1.9% | 9.7% | — |
| DINO | $10.29B | 15.0 | -6.0% | 2.1% | 6.3% | — |
| SUN | — | — | 11.1% | 2.1% | — | — |
| CLMT | $1.72B | -50.9 | -1.2% | -0.82% | 3.9% | 5.9% |
| DK | $2.29B | -78.1 | -9.5% | -0.21% | -5.4% | — |
| PARR | — | 4.9 | -6.4% | 5.0% | 27.8% | — |
| SUNC | — | -492.8 | 11.1% | -0.02% | — | — |
| CVI | $2.56B | 94.2 | -5.9% | 0.38% | 3.8% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $29.33B | $33.12B | $38.32B | $46.83B | $27.25B | $15.12B | $24.51B | $27.19B | $21.79B | $15.92B | $13.12B | $19.83B | |
| Cost of Revenue | $29.90B | $33.49B | $35.93B | $42.15B | $26.37B | $16.75B | $23.60B | $26.58B | $20.83B | $15.24B | $12.57B | · | |
| SG&A Expense | $332M | $260M | $362M | $469M | $247M | $248M | $284M | $277M | $214M | $166M | $181M | $147M | |
| Operating Expenses | $29.39B | $33.81B | $35.37B | $42.68B | $26.66B | $16.53B | $23.86B | $26.83B | $1.68B | $1.42B | $905M | $883M | |
| Operating Income | $-54M | $-699M | $2.95B | $4.15B | $597M | $-1.42B | $649M | $358M | $732M | $499M | $360M | $148M | |
| Interest Expense | $182M | $72M | $64M | $246M | $318M | $258M | $160M | $170M | · | · | · | · | |
| Pretax Income | $-235M | $-769M | $2.89B | $3.56B | $328M | $-1.33B | $480M | $209M | $799M | $363M | $282M | $56M | |
| Income Tax | $-74M | $-228M | $724M | $585M | $12M | $2M | $104M | $34M | $316M | $138M | $87M | $-22M | |
| Net Income | $-158M | $-534M | $2.14B | $2.88B | $231M | $-1.39B | $319M | $128M | $416M | $171M | $146M | $-38M | |
| EPS (Basic) | $-1.39 | $-4.59 | $17.13 | $23.47 | $1.92 | $-11.64 | $2.66 | $1.11 | $3.78 | $1.74 | $1.66 | $-0.51 | |
| EPS (Diluted) | $-1.39 | $-4.60 | $16.52 | $22.84 | $1.90 | $-11.64 | $2.64 | $1.10 | $3.73 | $1.74 | $1.65 | $-0.51 | |
| Shares (Basic) | 114,052,733 | 116,248,827 | 124,953,858 | 122,598,076 | 120,240,009 | 119,617,998 | 119,887,646 | 115,190,262 | 109,779,407 | 98,334,302 | 88,106,999 | 74,464,494 | |
| Shares (Diluted) | 114,915,513 | 117,111,607 | 130,509,448 | 126,860,106 | 122,638,154 | 120,660,665 | 121,853,299 | 118,773,606 | 113,898,845 | 103,606,709 | 94,138,850 | 74,464,494 | |
| EBITDA | $317M | $-341M | $3.27B | $4.42B | $818M | $-1.09B | $907M | $566M | $874M | $604M | $463M | $216M |
Balance Sheet 27
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $528M | $536M | $1.78B | $2.20B | $1.34B | $1.61B | $815M | $597M | $573M | $746M | $944M | $398M | |
| Short-term Investments | · | · | · | · | · | · | · | · | $0 | $40M | $0 | · | |
| Inventory | $2.56B | $2.60B | $3.18B | $2.76B | $2.51B | $1.69B | $2.12B | $1.87B | $2.21B | $1.86B | $1.17B | $1.10B | |
| Prepaid Expense | $194M | $248M | $268M | $123M | $75M | $59M | $52M | $56M | $64M | $137M | $77M | $73M | |
| Current Assets | $4.45B | $4.54B | $6.60B | $6.55B | $5.20B | $3.87B | $3.82B | $3.24B | $3.80B | $3.41B | $3.02B | $2.35B | |
| PP&E (Net) | $5.52B | $5.07B | $4.98B | $5.36B | $4.90B | $4.84B | $4.02B | $3.82B | $3.48B | $3.33B | $2.36B | $1.94B | |
| PP&E (Gross) | $7.91B | $7.23B | $6.89B | $7.03B | $6.34B | $6.05B | $4.99B | $4.61B | $4.10B | $3.81B | $2.72B | $2.21B | |
| Accum. Depreciation | $2.39B | $2.17B | $1.91B | $1.67B | $1.43B | $1.21B | $966M | $785M | $623M | $478M | $363M | $269M | |
| Intangibles | · | $8M | $9M | $9M | $10M | $10M | $24M | $26M | $537.0K | $577.0K | $219.0K | $357.0K | |
| Other Non-current Assets | $1.46B | $1.38B | $1.14B | $963M | $823M | $872M | $955M | $899M | $782M | $507M | $291M | $300M | |
| Total Assets | $13.02B | $12.70B | $14.39B | $13.55B | $11.64B | $10.50B | $9.13B | $8.01B | $8.12B | $7.62B | $6.11B | $5.16B | |
| Accounts Payable | $801M | $736M | $959M | $855M | $912M | $407M | $601M | $488M | $579M | $536M | $316M | $335M | |
| Accrued Liabilities | $2.66B | $2.53B | $3.02B | $3.72B | $2.74B | $1.91B | $1.82B | $1.62B | $1.81B | $1.47B | $1.12B | $1.13B | |
| Short-term Debt | · | · | · | · | · | · | · | $0 | $6M | $0 | · | · | |
| Current Liabilities | $3.67B | $3.63B | $4.22B | $5.20B | $3.76B | $2.45B | $2.51B | $2.13B | $2.42B | $2.06B | $1.50B | $1.54B | |
| Capital Leases | $543M | $622M | $609M | $553M | $570M | $756M | $233M | $0 | · | · | · | · | |
| Deferred Tax | $764M | $836M | $1.07B | $535M | $111M | $100M | $97M | $40M | $33M | $46M | $0 | · | |
| Other Non-current Liabilities | $252M | $279M | $272M | $373M | $252M | $268M | $251M | $277M | $226M | $229M | $69M | $63M | |
| Total Liabilities | $7.57B | $7.02B | $7.76B | $8.49B | $9.11B | $8.30B | $5.55B | $4.76B | $5.22B | $5.05B | $4.01B | $3.47B | |
| Long-term Debt | · | · | · | · | · | · | · | · | $2.22B | $2.18B | $1.88B | $1.25B | |
| Total Debt | $2.15B | $1.46B | $1.25B | $1.43B | $4.30B | $4.65B | $2.06B | $1.93B | $2.18B | $2.11B | $1.84B | $1.25B | |
| Paid-in Capital | $3.40B | $3.34B | $3.28B | $3.20B | $2.87B | $2.85B | $2.81B | $2.63B | $2.28B | $2.25B | $1.90B | $1.51B | |
| Retained Earnings | $3.15B | $3.44B | $4.09B | $2.06B | $-796M | $-1.03B | $401M | $226M | $237M | $-45M | $-83M | $-123M | |
| Treasury Stock | $1.24B | $1.22B | $868M | $327M | $169M | $167M | $166M | $161M | $153M | $152M | $151M | $143M | |
| AOCI | $10M | $-8M | $-12M | $-2M | $17M | $-9M | $-8M | $-22M | $-25M | $-24M | $-23M | $-24M | |
| Stockholders' Equity | $5.32B | $5.54B | $6.49B | $4.93B | $1.93B | $1.64B | $3.04B | $2.68B | $2.34B | $2.03B | $1.65B | $1.22B | |
| Liabilities + Equity | $13.02B | $12.70B | $14.39B | $13.55B | $11.64B | $10.50B | $9.13B | $8.01B | $8.12B | $7.62B | $6.11B | $5.16B |
Cash Flow 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $372M | $358M | $314M | $262M | $221M | $326M | $258M | $208M | $208M | $144M | $106M | $103M | |
| Stock-based Comp | $39M | $44M | $52M | $54M | $36M | $34M | $37M | $26M | $27M | $23M | $13M | $7M | |
| Deferred Tax | $-78M | $-239M | $537M | $420M | $12M | $2M | $104M | $33M | $314M | $245M | $-6M | $-49M | |
| Other Non-cash | $-252M | $414M | $-1.70B | $1.16B | $-22M | $399M | $215M | $443M | $-214M | $108M | $303M | $471M | |
| Operating Cash Flow | $-78M | $43M | $1.34B | $4.77B | $477M | $-632M | $934M | $838M | $686M | $652M | $560M | $456M | |
| CapEx | $705M | $391M | $660M | $633M | $249M | $196M | $405M | $318M | $307M | $299M | $354M | $476M | |
| Investing Cash Flow | $-480M | $-1.04B | $-339M | $-1.01B | $-388M | $-1.03B | $-713M | $-686M | $-687M | $-1.39B | $-812M | $-664M | |
| Debt Issued | · | · | · | · | · | · | · | · | · | $0 | $0 | $300M | |
| Net Debt Issued | $0 | · | · | · | · | · | · | · | · | $-195M | $-700.0K | $0 | |
| Stock Issued | · | · | · | · | · | $0 | $0 | $287M | · | · | · | $0 | |
| Stock Repurchased | $0 | $329M | $532M | $156M | $0 | $2M | $5M | $8M | $1M | $743.0K | $8M | $143M | |
| Net Stock Activity | $0 | $-329M | $-532M | $-156M | $0 | $-2M | $-5M | $-8M | $-1M | $-743.0K | $-8M | $-143M | |
| Dividends Paid | · | · | · | · | · | · | $144M | $139M | $132M | $117M | $107M | $89M | |
| Financing Cash Flow | $550M | $-249M | $-1.42B | $-2.90B | $-357M | $2.45B | $-3M | $-128M | $-172M | $544M | $798M | $528M | |
| Net Change in Cash | $-8M | $-1.25B | $-420M | $862M | $-268M | $795M | $218M | $24M | $-173M | $-198M | $546M | $321M | |
| Taxes Paid | $4M | $18M | $299M | $149M | $6M | $2M | $3M | $700.0K | $0 | $4M | $124M | $66M | |
| Free Cash Flow | $-783M | $-348M | $679M | $4.14B | $228M | $-828M | $529M | $520M | $379M | $353M | $206M | $-20M | |
| Levered FCF | $-907M | $-398M | $631M | $3.93B | $-78M | $-1.09B | · | · | · | · | · | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -0.19% | -2.1% | 7.7% | 8.9% | 2.2% | -9.4% | 2.6% | 1.3% | · | · | · | 0.76% | |
| Net Margin | -0.54% | -1.6% | 5.6% | 6.1% | 0.85% | -9.2% | 1.3% | 0.47% | · | · | · | -0.19% | |
| Pretax Margin | -0.80% | -2.3% | 7.5% | 7.6% | 1.2% | -8.8% | 2.0% | 0.77% | · | · | · | 0.28% | |
| EBITDA Margin | 1.1% | -1.0% | 8.5% | 9.4% | 3.0% | -7.2% | 3.7% | 2.1% | · | · | · | 1.1% | |
| ROA | -1.2% | -3.9% | 15.3% | 22.8% | 2.1% | -14.2% | 3.7% | 1.6% | 5.3% | 2.5% | 2.6% | -0.80% | |
| ROE | -2.9% | -8.9% | 37.5% | 83.9% | 12.9% | -59.5% | 11.2% | 5.1% | 19.1% | 9.3% | 10.2% | -4.1% | |
| ROIC | -0.50% | -7.0% | 28.6% | 54.5% | 9.2% | -22.5% | 10.0% | 6.5% | 9.8% | 7.5% | 7.2% | 8.5% |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.2 | 1.3 | 1.6 | 1.3 | 1.4 | 1.6 | 1.5 | 1.5 | 1.6 | 1.7 | 2.0 | 1.5 | |
| Quick Ratio | 0.1 | 0.1 | 0.4 | 0.4 | 0.4 | 0.7 | 0.3 | 0.3 | 0.2 | 0.4 | 0.6 | 0.3 | |
| Debt / Equity | 0.4 | 0.3 | 0.2 | 0.3 | 2.2 | 2.8 | 0.7 | 0.7 | 0.9 | 1.0 | 1.1 | 1.0 | |
| LT Debt / Equity | 0.4 | 0.3 | 0.2 | 0.3 | 2.2 | 2.8 | 0.7 | 0.7 | 0.9 | 1.0 | 1.1 | 1.0 | |
| Interest Coverage | -0.3 | -9.7 | 46.3 | 16.9 | 1.9 | -5.5 | · | · | · | · | · | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 2.3 | 2.4 | 2.7 | 3.7 | 2.5 | 1.5 | 2.9 | 3.4 | · | · | · | 4.1 | |
| Inventory Turnover | 11.6 | 11.6 | 12.1 | 16.0 | 12.6 | 8.8 | 11.8 | 13.0 | 10.2 | · | · | · |
Growth Rates 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -11.4% | -13.6% | -18.2% | 71.8% | 80.3% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | -14.4% | 6.7% | 36.4% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 14.2% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | · | · | -27.7% | 1102.1% | · | · | · | · | · | · | · | · | |
| Net Income YoY | · | · | -25.6% | 1145.4% | · | · | · | · | · | · | · | · |
Valuation (TTM) 6
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $29.33B | $33.12B | $38.32B | $46.83B | $27.25B | $15.12B | $24.51B | $27.19B | $21.79B | $15.92B | $13.12B | $19.83B | |
| Net Income TTM | $-158M | $-534M | $2.14B | $2.88B | $231M | $-1.39B | $319M | $128M | $416M | $171M | $146M | $-38M | |
| P/E | -19.5 | -5.8 | 2.7 | 1.8 | 6.8 | -0.6 | 11.9 | 29.7 | 9.5 | 16.0 | 22.3 | -52.2 | |
| Earnings Yield | -5.1% | -17.3% | 37.6% | 56.0% | 14.6% | -163.9% | 8.4% | 3.4% | 10.5% | 6.2% | 4.5% | -1.9% | |
| Payout Ratio | · | · | · | · | · | · | 44.9% | 108.2% | 31.7% | 68.8% | 72.8% | -231.8% | |
| Annual Payout | · | · | · | · | · | · | $144M | $139M | $132M | $117M | $107M | $89M |
Income Statement 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.68B | $7.90B | $7.14B | $7.65B | $7.48B | $7.07B | $7.35B | $8.38B | $8.74B | $8.65B | $9.14B | $10.73B | $9.16B | $9.29B | $10.85B | $12.76B | |
| Cost of Revenue | $10.53B | $7.63B | $7.27B | $7.61B | $7.53B | $7.49B | $7.66B | $8.67B | $8.73B | $8.43B | $9.05B | $9.51B | $8.65B | $8.72B | $9.88B | $11.19B | |
| SG&A Expense | $149M | $90M | $108M | $74M | $80M | $70M | $67M | $65M | $65M | $63M | $105M | $93M | $104M | $60M | $94M | $168M | |
| Operating Expenses | $10.41B | $7.60B | $7.01B | $7.37B | $7.43B | $7.58B | $7.73B | $8.77B | $8.81B | $8.50B | $9.19B | $9.66B | $7.77B | $8.76B | $9.89B | $11.36B | |
| Operating Income | $1.27B | $300M | $128M | $286M | $43M | $-511M | $-383M | $-386M | $-75M | $145M | $-47M | $1.08B | $1.39B | $532M | $956M | $1.40B | |
| Interest Expense | $42M | $42M | $41M | $50M | $54M | $37M | $23M | $21M | $17M | $10M | $9M | $23M | $14M | $19M | $29M | $53M | |
| Other Non-op | · | · | · | · | · | · | · | · | $0 | $0 | · | · | $2M | $-2M | · | · | |
| Pretax Income | $1.23B | $258M | $88M | $236M | $-10M | $-548M | $-405M | $-407M | $-91M | $135M | $-54M | $1.05B | $1.38B | $512M | $925M | $1.28B | |
| Income Tax | $314M | $58M | $9M | $64M | $-5M | $-142M | $-113M | $-118M | $-25M | $28M | $-5M | $255M | $348M | $126M | $268M | $191M | |
| Net Income | $906M | $198M | $78M | $170M | $-5M | $-402M | $-289M | $-286M | $-65M | $107M | $-48M | $786M | $1.02B | $382M | $638M | $1.06B | |
| EPS (Basic) | $7.66 | $1.69 | $0.72 | $1.47 | $-0.05 | $-3.53 | $-2.44 | $-2.48 | $-0.56 | $0.89 | $-0.33 | $6.35 | $8.14 | $2.97 | $5.07 | $8.65 | |
| EPS (Diluted) | $7.54 | $1.65 | $0.74 | $1.45 | $-0.05 | $-3.53 | $-2.41 | $-2.49 | $-0.56 | $0.86 | $-0.33 | $6.11 | $7.88 | $2.86 | $4.97 | $8.40 | |
| Shares (Basic) | 118,367,104 | 117,194,615 | -229,288,214 | 115,734,251 | 113,852,406 | 113,754,290 | -235,743,158 | 115,084,174 | 117,043,158 | 119,864,653 | -252,915,552 | 123,793,179 | 125,288,452 | 128,787,779 | -241,122,889 | 122,113,570 | |
| Shares (Diluted) | 121,066,763 | 120,581,062 | -232,375,092 | 117,958,349 | 114,715,186 | 114,617,070 | -241,411,334 | 115,946,954 | 117,905,938 | 124,670,049 | -264,126,206 | 129,690,375 | 130,446,002 | 134,499,277 | -245,722,790 | 126,585,809 | |
| EBITDA | $1.27B | $463M | · | $286M | $43M | $-336M | · | $-386M | $-75M | $294M | · | $1.08B | $1.39B | $682M | · | $1.40B |
Balance Sheet 23
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $894M | $542M | $528M | $482M | $591M | $469M | $536M | $977M | $1.37B | $1.44B | · | $1.89B | $1.52B | $1.62B | · | $1.91B | |
| Inventory | $2.89B | $3.08B | $2.56B | $2.74B | $2.77B | $2.89B | $2.60B | $2.61B | $2.86B | $2.89B | · | $3.18B | $2.83B | $2.85B | · | $2.69B | |
| Prepaid Expense | $205M | $274M | $194M | $210M | $280M | $312M | $248M | $280M | $306M | $310M | · | $264M | $587M | $212M | · | $344M | |
| Current Assets | $5.83B | $5.83B | $4.45B | $4.81B | $4.77B | $4.86B | $4.54B | $5.11B | $6.05B | $5.82B | · | $6.92B | $6.30B | $5.87B | · | $6.57B | |
| PP&E (Net) | $5.74B | $5.71B | $5.52B | $5.19B | $5.15B | $5.04B | $5.07B | $5.02B | $5.00B | $4.99B | · | $4.92B | $4.91B | $5.52B | · | $5.13B | |
| PP&E (Gross) | · | · | $7.91B | · | · | · | $7.23B | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | $2.53B | $2.46B | $2.39B | $2.34B | $2.30B | $2.23B | $2.17B | $2.10B | · | · | · | · | · | · | · | · | |
| Other Non-current Assets | $1.52B | $1.55B | $1.46B | $1.44B | $1.42B | $1.42B | $1.38B | $1.33B | $1.36B | $1.28B | · | $1.10B | $1.10B | $1.05B | · | $913M | |
| Total Assets | $14.72B | $14.72B | $13.02B | $13.04B | $12.98B | $13.03B | $12.70B | $13.13B | $14.08B | $13.81B | · | $14.69B | $14.03B | $13.14B | · | $13.30B | |
| Accounts Payable | $789M | $862M | $801M | $822M | $928M | $874M | $736M | $956M | $1.13B | $961M | · | $1.21B | $635M | $750M | · | $912M | |
| Accrued Liabilities | $3.40B | $3.32B | $2.66B | $2.47B | $2.46B | $2.63B | $2.53B | $2.54B | $2.82B | $2.45B | · | $2.91B | $3.41B | $3.64B | · | $3.85B | |
| Current Liabilities | $4.38B | $4.44B | $3.67B | $3.50B | $3.63B | $3.77B | $3.63B | $3.83B | $4.26B | $3.78B | · | $4.39B | $4.30B | $4.60B | · | $5.42B | |
| Capital Leases | $559M | $565M | $543M | $567M | $582M | $615M | $622M | $599M | $597M | $620M | · | $629M | $614M | $566M | · | $555M | |
| Deferred Tax | $1.04B | $822M | $764M | $752M | $688M | $694M | $836M | $957M | $1.08B | $1.08B | · | $952M | $847M | $578M | · | $277M | |
| Other Non-current Liabilities | $253M | $249M | $252M | $271M | $274M | $267M | $279M | $268M | $273M | $269M | · | $288M | $316M | $359M | · | $328M | |
| Total Liabilities | $8.17B | $9.07B | $7.57B | $7.68B | $7.76B | $7.78B | $7.02B | $7.11B | $7.67B | $7.21B | · | $7.83B | $7.85B | $7.87B | · | $8.43B | |
| Total Debt | $1.75B | $2.80B | · | $2.39B | $2.39B | $2.24B | · | $1.25B | $1.25B | $1.25B | · | $1.24B | $1.44B | $1.44B | · | $1.45B | |
| Paid-in Capital | $3.45B | $3.44B | $3.40B | $3.37B | $3.36B | $3.35B | $3.34B | $3.32B | $3.32B | $3.31B | · | $3.27B | $3.24B | $3.22B | · | $2.93B | |
| Retained Earnings | $4.19B | $3.32B | $3.15B | $3.10B | $2.97B | $3.00B | $3.44B | $3.76B | $4.07B | $4.17B | · | $4.17B | $3.41B | $2.41B | · | $1.44B | |
| Treasury Stock | $1.25B | $1.25B | $1.24B | $1.23B | $1.23B | $1.23B | $1.22B | $1.19B | $1.11B | $1.01B | · | $714M | $598M | $496M | · | $171M | |
| AOCI | $11M | $10M | $10M | $-6M | $-7M | $-7M | $-8M | $-11M | $-12M | $-12M | · | $-2M | $-2M | $-1M | · | $15M | |
| Stockholders' Equity | $6.41B | $5.52B | $5.32B | $5.23B | $5.09B | $5.11B | $5.54B | $5.88B | $6.27B | $6.46B | · | $6.72B | $6.04B | $5.14B | · | $4.22B | |
| Liabilities + Equity | $14.72B | $14.72B | $13.02B | $13.04B | $12.98B | $13.03B | $12.70B | $13.13B | $14.08B | $13.81B | · | $14.69B | $14.03B | $13.14B | · | $13.30B |
Cash Flow 16
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $168M | $164M | $-137M | $167M | $166M | $175M | $-118M | $166M | $162M | $148M | $-134M | $149M | $150M | $150M | $-127M | $136M | |
| Stock-based Comp | $9M | $8M | $9M | $8M | $10M | $11M | $14M | $9M | $9M | $12M | $24M | $9M | $10M | $9M | $29M | $7M | |
| Deferred Tax | $219M | $58M | $6M | $64M | $-5M | $-142M | $-123M | $-126M | $4M | $5M | $121M | $105M | $269M | $42M | $255M | $105M | |
| Other Non-cash | · | $-752M | · | · | · | $-304M | · | · | · | $-257M | · | · | · | $-146M | · | · | |
| Operating Cash Flow | $1.59B | $-324M | $367M | $26M | $191M | $-661M | $-330M | $-68M | $425M | $16M | $306M | $527M | $68M | $438M | $1.12B | $1.38B | |
| CapEx | $127M | $349M | $290M | $148M | $156M | $111M | $96M | $102M | $54M | $140M | $82M | $131M | $207M | $240M | $242M | $165M | |
| Investing Cash Flow | $-104M | $-402M | $-21M | $-88M | $-154M | $-218M | $-236M | $-187M | $-333M | $-284M | $-233M | $209M | $64M | $-379M | $-327M | $-247M | |
| Debt Issued | · | $0 | · | · | · | $788M | · | · | · | · | · | · | · | · | · | · | |
| Net Debt Issued | · | $0 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Stock Repurchased | · | · | $0 | $0 | $0 | $0 | $29M | $75M | $100M | $125M | $150M | $115M | $100M | $168M | $156M | $0 | |
| Net Stock Activity | · | · | · | · | · | $0 | · | · | · | $-125M | · | · | · | $-168M | · | · | |
| Financing Cash Flow | $-1.13B | $739M | $-300M | $-46M | $85M | $811M | $126M | $-135M | $-166M | $-73M | $-182M | $-360M | $-231M | $-646M | $-501M | $-1.40B | |
| Net Change in Cash | $352M | $14M | $46M | $-109M | $122M | $-68M | $-441M | $-390M | $-74M | $-342M | $-109M | $376M | $-99M | $-588M | $295M | $-266M | |
| Taxes Paid | $4M | $100.0K | $900.0K | $700.0K | $2M | $100.0K | $3M | $1M | $13M | $100.0K | $88M | $84M | $124M | $4M | $86M | $61M | |
| Free Cash Flow | · | $-673M | · | · | · | $-772M | · | · | · | $-124M | · | · | · | $198M | · | · | |
| Levered FCF | · | $-706M | · | · | · | $-800M | · | · | · | $-132M | · | · | · | $184M | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 10.9% | 3.8% | · | 3.7% | 0.58% | -7.2% | · | -4.6% | -0.85% | 1.7% | · | 10.0% | 15.2% | 5.7% | · | 11.0% | |
| Net Margin | 7.8% | 2.5% | · | 2.2% | -0.07% | -5.7% | · | -3.4% | -0.75% | 1.2% | · | 7.3% | 11.1% | 4.1% | · | 8.3% | |
| Pretax Margin | 10.5% | 3.3% | · | 3.1% | -0.14% | -7.8% | · | -4.9% | -1.1% | 1.6% | · | 9.8% | 15.0% | 5.5% | · | 10.0% | |
| EBITDA Margin | 10.9% | 5.9% | · | 3.7% | 0.58% | -4.8% | · | -4.6% | -0.85% | 3.4% | · | 10.0% | 15.2% | 7.3% | · | 11.0% | |
| ROA | 6.5% | 1.4% | · | 1.3% | -0.04% | -3.0% | · | -2.1% | -0.46% | 0.79% | · | 5.6% | 7.3% | 2.9% | · | 8.4% | |
| ROE | 15.8% | 3.7% | · | 3.1% | -0.09% | -7.0% | · | -4.5% | -1.1% | 1.8% | · | 14.4% | 22.2% | 10.8% | · | 35.5% | |
| ROIC | 11.6% | 2.8% | · | 2.7% | 0.30% | -5.1% | · | -3.8% | -0.72% | 1.5% | · | 10.2% | 13.9% | 6.1% | · | 21.0% |
Liquidity & Solvency 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.3 | 1.3 | · | 1.4 | 1.3 | 1.3 | · | 1.3 | 1.4 | 1.5 | · | 1.6 | 1.5 | 1.3 | · | 1.2 | |
| Quick Ratio | 0.2 | 0.1 | · | 0.1 | 0.2 | 0.1 | · | 0.3 | 0.3 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.4 | |
| Debt / Equity | 0.3 | 0.5 | · | 0.5 | 0.5 | 0.4 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.3 | · | 0.3 | |
| LT Debt / Equity | 0.3 | 0.5 | · | 0.5 | 0.5 | 0.4 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.3 | · | 0.3 | |
| Interest Coverage | 30.3 | 7.1 | · | 5.7 | 0.8 | -13.9 | · | -18.1 | -4.3 | 13.8 | · | 47.4 | 100.7 | 28.5 | · | 26.6 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.8 | 0.6 | · | 0.6 | 0.6 | 0.5 | · | 0.6 | 0.6 | 0.6 | · | 0.8 | 0.7 | 0.7 | · | 1.0 | |
| Inventory Turnover | 3.7 | 2.6 | · | 2.8 | 2.7 | 2.6 | · | 3.0 | 3.1 | 2.9 | · | 3.2 | 3.0 | 3.0 | · | 4.1 |
Valuation (TTM) 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $34.71B | $30.10B | · | $30.58B | $31.66B | $32.83B | · | $36.50B | $37.27B | $37.83B | · | $41.95B | $45.29B | $45.28B | · | $43.17B | |
| Net Income TTM | $1.27B | $-39M | · | $-523M | $-758M | $-646M | · | $542M | $1.85B | $2.30B | · | $3.25B | $3.66B | $2.62B | · | $2.30B | |
| P/E | 4.3 | -99.2 | · | -6.5 | -3.3 | -3.3 | · | 7.9 | 3.2 | 3.3 | · | 2.1 | 1.4 | 2.1 | · | 1.9 | |
| Earnings Yield | 23.3% | -1.0% | · | -15.3% | -30.6% | -30.0% | · | 12.7% | 31.1% | 30.8% | · | 47.2% | 70.3% | 47.8% | · | 52.2% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $29.33B | $33.12B | $38.32B | $46.83B | $27.25B |
| Operating Margin % | -0.19% | -2.1% | 7.7% | 8.9% | 2.2% |
| Net Income | $-158M | $-534M | $2.14B | $2.88B | $231M |
| Diluted EPS | $-1.39 | $-4.60 | $16.52 | $22.84 | $1.90 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.4 | 0.3 | 0.2 | 0.3 | 2.2 |
| Current Ratio | 1.2 | 1.3 | 1.6 | 1.3 | 1.4 |
| Quick Ratio | 0.1 | 0.1 | 0.4 | 0.4 | 0.4 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-783M | $-348M | $679M | $4.14B | $228M |
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Institutional owners (13F) 481 filers · $3.4B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 90 (-38 vs prior Q) | 55 (+24 vs prior Q) | 168 (+32 vs prior Q) | 128 (+14 vs prior Q) | +5.3M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| GOLDMAN SACHS GROUP INC | $254,095,917 | 5,582,072 | 7.47% | Shares |
| STATE STREET CORP | $251,041,252 | 5,514,966 | 7.38% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $246,302,165 | 5,410,856 | 7.24% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $222,095,039 | 4,879,065 | 6.53% | Shares |
| TWO SIGMA INVESTMENTS, LP | $214,555,834 | 4,713,441 | 6.30% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $188,528,727 | 4,141,668 | 5.54% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $125,634,517 | 2,759,985 | 3.69% | Shares |
| FMR LLC | $105,023,061 | 2,307,185 | 3.09% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $93,426,336 | 2,051,894 | 2.74% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $76,388,159 | 1,678,123 | 2.24% | Shares |
| Squarepoint Ops LLC | $73,846,413 | 1,622,285 | 2.17% | Shares |
| AMERIPRISE FINANCIAL INC | $73,480,908 | 1,614,213 | 2.16% | Shares |
| Allianz Asset Management GmbH | $66,550,877 | 1,462,014 | 1.96% | Shares |
| CastleKnight Management LP | $51,195,252 | 1,124,676 | 1.50% | Shares |
| MACKENZIE FINANCIAL CORP | $47,911,848 | 1,052,545 | 1.41% | Shares |
| TWO SIGMA ADVISERS, LP | $43,231,992 | 1,594,100 | 1.27% | Shares |
| MILLENNIUM MANAGEMENT LLC | $38,410,823 | 843,823 | 1.13% | Shares |
| Qube Research & Technologies Ltd | $36,905,294 | 810,749 | 1.08% | Shares |
| Driehaus Capital Management LLC | $34,490,276 | 757,695 | 1.01% | Shares |
| Recurrent Investment Advisors LLC | $33,208,388 | 729,534 | 0.98% | Shares |
| PRIVATE MANAGEMENT GROUP INC | $31,100,539 | 683,228 | 0.91% | Shares |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $30,824,005 | 677,153 | 0.91% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $30,731,189 | 675,114 | 0.90% | Shares |
| JANE STREET GROUP, LLC | $30,562,128 | 671,400 | 0.90% | Call option |
| JANE STREET GROUP, LLC | $29,581,309 | 649,853 | 0.87% | Shares |
| Jump Financial, LLC | $29,369,504 | 645,200 | 0.86% | Shares |
| CITADEL ADVISORS LLC | $28,322,544 | 622,200 | 0.83% | Shares |
| AEGIS FINANCIAL CORP | $28,235,555 | 620,289 | 0.83% | Shares |
| BANK OF AMERICA CORP /DE/ | $26,117,965 | 573,769 | 0.77% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $26,008,535 | 571,365 | 0.76% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $25,250,536 | 554,713 | 0.74% | Shares |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | $24,672,113 | 542,006 | 0.72% | Shares |
| D. E. Shaw & Co., Inc. | $24,150,408 | 530,545 | 0.71% | Shares |
| Man Group plc | $21,745,041 | 477,703 | 0.64% | Shares |
| PDT Partners, LLC | $20,196,769 | 443,690 | 0.59% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $20,138,048 | 442,400 | 0.59% | Shares |
| Public Sector Pension Investment Board | $18,390,080 | 404,000 | 0.54% | Shares |
| CITADEL ADVISORS LLC | $18,321,800 | 402,500 | 0.54% | Put option |
| VICTORY CAPITAL MANAGEMENT INC | $17,765,819 | 390,286 | 0.52% | Shares |
| FRANKLIN RESOURCES INC | $15,908,102 | 349,475 | 0.47% | Shares |
| ALGERT GLOBAL LLC | $15,219,885 | 334,356 | 0.45% | Shares |
| CastleKnight Management LP | $14,566,400 | 320,000 | 0.43% | Call option |
| RHUMBLINE ADVISERS | $13,529,380 | 297,219 | 0.40% | Shares |
| Aventail Capital Group, LP | $13,422,255 | 294,865 | 0.39% | Shares |
| NORGES BANK | $13,241,495 | 290,894 | 0.39% | Shares |
| CITADEL ADVISORS LLC | $12,568,072 | 276,100 | 0.37% | Call option |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | $12,085,788 | 265,505 | 0.36% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $11,448,280 | 251,500 | 0.34% | Put option |
| TUDOR INVESTMENT CORP ET AL | $11,412,820 | 250,721 | 0.34% | Shares |
| AMERICAN CENTURY COMPANIES INC | $11,273,395 | 247,657 | 0.33% | Shares |
| Susquehanna Portfolio Strategies, LLC | $10,319,794 | 226,709 | 0.30% | Shares |
| HENNESSY ADVISORS INC | $9,964,328 | 218,900 | 0.29% | Shares |
| Hara Capital LLC | $9,937,532 | 218,311 | 0.29% | Shares |
| BlackRock, Inc. | $9,786,527 | 214,994 | 0.29% | Shares |
| Weiss Asset Management LP | $9,600,851 | 210,915 | 0.28% | Shares |
| IEQ CAPITAL, LLC | $9,309,566 | 204,516 | 0.27% | Shares |
| Hillsdale Investment Management Inc. | $9,251,940 | 203,250 | 0.27% | Shares |
| SIR Capital Management, L.P. | $9,128,080 | 200,529 | 0.27% | Shares |
| WOLVERINE ASSET MANAGEMENT LLC | $9,104,000 | 200,000 | 0.27% | Put option |
| ALLIANCEBERNSTEIN L.P. | $9,015,228 | 189,316 | 0.26% | Shares |
| Swiss National Bank | $8,853,640 | 194,500 | 0.26% | Shares |
| BARCLAYS PLC | $8,598,319 | 188,891 | 0.25% | Shares |
| Voleon Capital Management LP | $7,979,110 | 175,288 | 0.23% | Shares |
| Counterpoint Mutual Funds LLC | $7,584,269 | 166,614 | 0.22% | Shares |
| VOYA INVESTMENT MANAGEMENT LLC | $7,330,996 | 161,050 | 0.22% | Shares |
| Brandywine Global Investment Management, LLC | $7,200,170 | 265,493 | 0.21% | Shares |
| Nuveen, LLC | $6,747,612 | 148,234 | 0.20% | Shares |
| Nuveen Asset Management, LLC | $6,700,477 | 252,372 | 0.20% | Shares |
| Old West Investment Management, LLC | $6,404,208 | 140,690 | 0.19% | Shares |
| Mariner, LLC | $6,244,433 | 137,159 | 0.18% | Shares |
| Brooklands Fund Management Ltd | $6,065,980 | 125,175 | 0.18% | Shares |
| THIRD AVENUE MANAGEMENT LLC | $5,965,396 | 131,050 | 0.18% | Shares |
| TOWLE & CO | $5,810,674 | 127,651 | 0.17% | Shares |
| NOMURA HOLDINGS INC | $5,781,040 | 127,000 | 0.17% | Call option |
| STATE OF WISCONSIN INVESTMENT BOARD | $5,521,303 | 121,294 | 0.16% | Shares |
| Cubist Systematic Strategies, LLC | $5,475,161 | 181,477 | 0.16% | Shares |
| PRUDENTIAL FINANCIAL INC | $5,218,868 | 114,650 | 0.15% | Shares |
| HITE Hedge Asset Management LLC | $4,969,464 | 109,171 | 0.15% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $4,823,049 | 101,282 | 0.14% | Shares |
| Alphadyne Asset Management LP | $4,783,469 | 105,085 | 0.14% | Shares |
| CAXTON ASSOCIATES LLP | $4,775,867 | 104,918 | 0.14% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $4,643,042 | 102,000 | 0.14% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $4,631,295 | 101,742 | 0.14% | Shares |
| Sourcerock Group LLC | $4,552,000 | 100,000 | 0.13% | Shares |
| Corigliano Investment Advisers, LLC | $4,516,424 | 94,843 | 0.13% | Shares |
| MetLife Investment Management, LLC | $4,401,056 | 96,684 | 0.13% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $4,340,328 | 90,689 | 0.13% | Shares |
| Rafferty Asset Management, LLC | $4,278,789 | 93,998 | 0.13% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $4,130,212 | 90,734 | 0.12% | Shares |
| MARTINGALE ASSET MANAGEMENT L P | $4,030,888 | 88,552 | 0.12% | Shares |
| Retirement Systems of Alabama | $3,954,687 | 86,878 | 0.12% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $3,854,861 | 84,685 | 0.11% | Shares |
| VAN ECK ASSOCIATES CORP | $3,742,791 | 82,223 | 0.11% | Shares |
| MARSHALL WACE, LLP | $3,698,591 | 81,252 | 0.11% | Shares |
| LEUTHOLD GROUP, LLC | $3,695,678 | 81,188 | 0.11% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $3,685,800 | 80,971 | 0.11% | Shares |
| Quadrature Capital Ltd | $3,667,364 | 80,566 | 0.11% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $3,577,972 | 82,996 | 0.11% | Shares |
| SEGALL BRYANT & HAMILL, LLC | $3,406,853 | 74,843 | 0.10% | Shares |
| Bank of New York Mellon Corp | $3,360,195 | 73,818 | 0.10% | Shares |
Company insiders 36 insiders · 11 officers · 18 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Erik C Young | Chief Financial Officer, SVP | Dec. 9, 2022 M | 100,882 | 0 | 0 | $0 |
| Donald Lucey | Chief Operating Officer, EVP | Nov. 5, 2013 M | — | 0 | 0 | $0 |
| Michael Bukowski | SVP, Head of Refining | March 4, 2026 F | 69,432 | 0 | 0 | $0 |
| Steven John Andriola | Controller & CAO | Dec. 19, 2025 S | 17,414 | 0 | 2 | $-103,585 |
| Connor Thomas L O | Senior Vice President | Dec. 16, 2025 F | 196,375 | 0 | 5 | $-5,121,130 |
| Steven Steach | SVP, Refining | Feb. 14, 2024 F | 65,448 | 0 | 0 | $0 |
| John C Barone | Principal Accounting Officer | Feb. 21, 2023 F | 28,158 | 0 | 0 | $0 |
| Herman L Seedorf | Senior Vice President | Dec. 28, 2021 M | 98,544 | 0 | 0 | $0 |
| Jeffrey Dill | Senior Vice President | Oct. 25, 2017 F | 22,931 | 0 | 0 | $0 |
| Malley Thomas D O | Executive Chairman | June 30, 2016 F | 111,891 | 0 | 0 | $0 |
| Malley Todd O | Chief Commercial Officer, SVP | Oct. 29, 2014 A | — | 0 | 0 | $0 |
| Paul Joseph Donahue | Director | April 28, 2026 F | 25,319 | 0 | 0 | $0 |
| Damian W. Wilmot | Director | April 28, 2026 F | 17,687 | 0 | 0 | $0 |
| Georganne Hodges | Director | April 28, 2026 F | 18,840 | 0 | 0 | $0 |
| George E. Ogden | Director | April 28, 2026 F | 52,028 | 0 | 0 | $0 |
| Lawrence Michael Ziemba | Director | April 28, 2026 F | 21,016 | 0 | 0 | $0 |
| Kimberly S. Bowers | Director | April 28, 2026 F | 51,203 | 0 | 0 | $0 |
| Karen Berriman Davis | Director | April 28, 2026 F | 88,114 | 0 | 0 | $0 |
| Spencer Abraham | Director | April 28, 2026 F | 63,364 | 0 | 0 | $0 |
| EDWARDS S EUGENE | Director | April 28, 2026 F | 65,406 | 0 | 0 | $0 |
| Wayne A Budd | Director | May 3, 2023 F | 50,894 | 0 | 0 | $0 |
| Robert J Lavinia | Director | Nov. 30, 2022 A | 47,107 | 0 | 0 | $0 |
| PBF Energy Inc. | Director | Nov. 30, 2022 A | 62,157,948 | 0 | 0 | $0 |
| William Hantke | Director | May 27, 2021 F | 34,546 | 0 | 0 | $0 |
| Edward F Kosnik | Director | July 1, 2020 F | 46,837 | 0 | 0 | $0 |
| Dennis Houston | Director | Aug. 1, 2017 F | 33,283 | 0 | 0 | $0 |
| Eija Malmivirta | Director | May 3, 2016 A | 12,508 | 0 | 0 | $0 |
| Jefferson F Allen | Director | Aug. 1, 2015 A | 12,163 | 0 | 0 | $0 |
| Tai Wendy Ho | — | Aug. 14, 2026 M | 129,209 | 0 | 3 | $-2,979,536 |
| Trecia M Canty | — | Aug. 14, 2026 M | 191,779 | 0 | 6 | $-22,198,670 |
| Thomas J. Nimbley | — | Aug. 14, 2026 M | 793,737 | 0 | 8 | $-84,285,195 |
| Matthew C. Lucey | — | Aug. 14, 2026 M | 526,038 | 0 | 3 | $-26,678,578 |
| Control Empresarial de Capitales, S.A. de C.V. | — | Aug. 14, 2026 S | 14,405,397 | 0 | 95 | $-754,126,834 |
| Paul T Davis | — | Aug. 12, 2026 M | 183,426 | 0 | 5 | $-16,163,731 |
| Joseph Daniel Marino | — | Aug. 11, 2026 M | 48,851 | 0 | 1 | $-278,882 |
| James E. Fedena | — | Aug. 3, 2026 S | 114,260 | 0 | 8 | $-6,580,400 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 3 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Carlos Slim Helu, Carlos Slim Domit, Marco Antonio Slim Domit, Patrick Slim Domit, Maria Soumaya Slim Domit, Vanessa Paola Slim Domit, Johanna Monique Slim Domit, Control Empresarial de Capitales, S.A. de C.V. ×6 filings | March 20, 2026 | 19.30% | Amendment | — | SEC |
| Carlos Slim Helú, Carlos Slim Domit, Marco Antonio Slim Domit, Patrick Slim Domit, María Soumaya Slim Domit, Vanessa Paola Slim Domit, Johanna Monique Slim Domit, Control Empresarial de Capitales, S.A. de C.V. ×4 filings | Dec. 2, 2024 | — | Initial filing | — | SEC |
| PBF Energy Inc., PBF Energy Company LLC ×4 filings | Nov. 30, 2022 | — | Initial filing | M&A / sale | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 81 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| GUSH · Direxion Shares ETF Trust | 1.77% | 121,555 NS | April 30, 2026 | N-PORT |
| VAMO · Cambria ETF Trust | 0.74% | 14,230 NS | April 30, 2026 | N-PORT |
| EBIT · Harbor ETF Trust | 0.68% | 1,786 NS | April 30, 2026 | N-PORT |
| PAMC · Pacer Funds Trust | 0.36% | 5,250 NS | April 30, 2026 | N-PORT |
| DFSV · Dimensional ETF Trust | 0.35% | 608,602 NS | April 30, 2026 | N-PORT |
| SMDX · Tidal Trust III | 0.33% | 9,529 NS | April 30, 2026 | N-PORT |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.25% | 168,367 NS | May 31, 2026 | N-PORT |
| MMSC · First Trust Exchange-Traded Fund VI… | 0.23% | 2,955 NS | May 31, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.19% | 32,257 NS | April 30, 2026 | N-PORT |
| FENY · FIDELITY COVINGTON TRUST | 0.19% | 87,914 NS | April 30, 2026 | N-PORT |
| BKSE · BNY Mellon ETF Trust | 0.18% | 3,291 NS | April 30, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.12% | 378,302 NS | April 30, 2026 | N-PORT |
| RSSL · Global X Funds | 0.11% | 36,317 NS | April 30, 2026 | N-PORT |
| FYT · First Trust Exchange-Traded AlphaDE… | 0.11% | 4,473 NS | April 30, 2026 | N-PORT |
| PTMC · Pacer Funds Trust | 0.11% | 9,538 NS | April 30, 2026 | N-PORT |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.10% | 29,079 NS | April 30, 2026 | N-PORT |
| FNDX · SCHWAB STRATEGIC TRUST | 0.10% | 622,560 NS | May 31, 2026 | N-PORT |
| FTLS · First Trust Exchange-Traded Fund III | 0.10% | 51,996 NS | April 30, 2026 | N-PORT |
| FNDB · SCHWAB STRATEGIC TRUST | 0.09% | 29,890 NS | May 31, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.09% | 3,948 NS | May 31, 2026 | N-PORT |
| AVIE · AMERICAN CENTURY ETF TRUST | 0.08% | 193 NS | May 31, 2026 | N-PORT |
| MVV · ProShares Trust | 0.07% | 2,868 NS | May 31, 2026 | N-PORT |
| MIDU · Direxion Shares ETF Trust | 0.07% | 1,375 NS | April 30, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.07% | 399,389 NS | May 31, 2026 | N-PORT |
| UMDD · ProShares Trust | 0.05% | 401 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.05% | 3,086 NS | May 31, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.04% | 3,599 NS | April 30, 2026 | N-PORT |
| GSSC · Goldman Sachs ETF Trust | 0.04% | 9,079 NS | May 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.04% | 17,384 NS | April 30, 2026 | N-PORT |
| URTY · ProShares Trust | 0.04% | 3,121 NS | May 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.03% | 285,796 NS | April 30, 2026 | N-PORT |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.02% | 696 NS | April 30, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.02% | 13,664 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.02% | 3,279 NS | May 31, 2026 | N-PORT |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.01% | 48,327 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.01% | 78 NS | May 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.01% | 27,040 NS | April 30, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.01% | 4,720 NS | April 30, 2026 | N-PORT |
| EBI · RBB Fund Trust | 0.01% | 1,486 NS | May 31, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.01% | 27,133 NS | April 30, 2026 | N-PORT |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 49,003 NS | May 31, 2026 | N-PORT |
| DFAT · Dimensional ETF Trust | 0.00% | 9,742 NS | April 30, 2026 | N-PORT |
| DFUV · Dimensional ETF Trust | 0.00% | 8,369 NS | April 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VBR · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VFMO · VANGUARD WELLINGTON FUND | — | — | July 30, 2026 | Daily |
| VFVA · VANGUARD WELLINGTON FUND | — | — | July 30, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | — | — | July 15, 2026 | Daily |