PBF Energy Inc (PBF)

Days of inventory on hand (DOH)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Inventory turnover		11.29	11.55	13.57	14.69	15.25	14.92	12.08	10.55	10.53	7.89	7.32	6.45	9.93	12.77	13.11	25.76	11.12	11.35	10.92	10.03
DOH	days	32.34	31.59	26.90	24.85	23.93	24.46	30.20	34.60	34.68	46.27	49.86	56.57	36.75	28.57	27.84	14.17	32.83	32.16	33.43	36.40

December 31, 2023 calculation

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

The days of inventory on hand (DOH) for PBF Energy Inc ranged from 26.97 days to 35.56 days in Q1 2023 and Q4 2023, respectively. The trend shows an increasing DOH from Q1 2023 to Q4 2023. This may indicate a slower inventory turnover rate, potentially tying up more capital in inventory. The DOH in Q4 2023 is higher compared to previous quarters, suggesting a possible buildup of inventory in that period. It is important for the company to monitor its inventory levels closely to optimize working capital efficiency.