LOWOutside partyCustomer
Sunoco
“10-K Item 1: 'Sunoco purchases gasoline and distillate products representing approximately one-third of the Toledo refinery's gasoline and distillates production'”
PBF · Concentration risk · 10-K extracted
PBF Energy (PBF) concentration risks
Updated
The most significant concentration PBF Energy discloses is Sunoco, classified LOW by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: PBF Energy’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 1 disclosed concentration
HIGH0
MEDIUM0
LOW1
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's disclosed concentration profile is narrow, resting on a single customer relationship at one facility. Sunoco purchases gasoline and distillate products representing approximately one-third of the Toledo refinery's gasoline and distillate production — a low-share dependency by disclosed size. The filing characterizes the volume in qualitative terms (approximately one-third of one refinery's output) rather than as a percentage of consolidated revenues, so the exposure is bounded at the facility level rather than constituting a company-wide concentration in net sales terms. The character is dependency: the Toledo refinery has a structured purchasing relationship with a single buyer for a meaningful portion of its refined product output, and any change to that arrangement — contract renegotiation, Sunoco's own strategic shifts, or a refinery operational event — could affect the placement of product from that facility. However, because the concentration is denominated at the individual refinery level and the company operates multiple refineries, the consolidated revenue impact of a disruption in this relationship would be limited relative to the total production and sales base. There are no disclosed product, geographic, or supplier concentrations identified beyond this single refinery-level customer relationship. The overall profile is therefore well-bounded: one customer dependency at a low disclosed-size share, localized to one facility and one product category (gasoline and distillates). On balance, this is a limited and well-disclosed exposure that is unlikely to be a dominant driver of the consolidated investment verdict, but warrants monitoring in the context of Toledo refinery operations and Sunoco's purchasing commitments.
For the engine’s reasoning on PBF’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Oil & Gas Refining & Marketing
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| CVI | CVR Energy Inc. | 0 | 4 | 1 | 5 |
| APC | ARKO Petroleum Corp. | 0 | 1 | 0 | 1 |
| DK | Delek US Holdings, Inc. | 0 | 1 | 0 | 1 |
| DKL | Delek Logistics Partners, L.P. | 0 | 1 | 0 | 1 |
| PBF● | PBF Energy Inc. | 0 | 0 | 1 | 1 |
| DINO | HF Sinclair Corporation | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.