PBF Energy Inc (PBF)

Days of inventory on hand (DOH)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Inventory turnover		11.29	15.25	10.53	9.93	11.12
DOH	days	32.34	23.93	34.68	36.75	32.83

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 11.29
= 32.34

The days of inventory on hand (DOH) for PBF Energy Inc have exhibited fluctuations over the past five years. The trend indicates that the company has managed its inventory levels differently each year. In 2023, the DOH increased to 35.56 days from 25.83 days in 2022, suggesting that PBF Energy held its inventory for a longer period before selling it. This increase in DOH could potentially signal challenges in managing inventory efficiently or changes in demand patterns impacting inventory turnover.

Comparing 2023 to the earlier years, the DOH of PBF Energy in 2023 is lower than in 2021 and 2020 but higher than in 2019. This fluctuation in inventory holding periods may indicate variations in production levels, sales, or inventory management practices over these years.

Overall, an increase in days of inventory on hand may tie up working capital, lead to storage costs, and potentially indicate inefficiencies in inventory management. Further analysis would be needed to understand the specific factors driving these changes in DOH for PBF Energy Inc.