PBF Energy Inc (PBF)

Days of sales outstanding (DSO)

		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
Receivables turnover		28.08	25.23	30.60	39.47	31.94	26.92	19.53	17.21	21.15	21.21	18.70	17.32	29.86	38.73	48.63	55.79	29.35	27.88	25.98	30.60
DSO	days	13.00	14.47	11.93	9.25	11.43	13.56	18.69	21.21	17.26	17.21	19.52	21.08	12.23	9.42	7.51	6.54	12.44	13.09	14.05	11.93

December 31, 2023 calculation

DSO = 365 ÷ Receivables turnover
= 365 ÷ 28.08
= 13.00

Days Sales Outstanding (DSO) is a measure of how long it takes for a company to collect revenue after a sale is made. A lower DSO indicates that the company is collecting payments from customers more quickly, which is generally positive for cash flow and liquidity.

Analyzing the DSO trend of PBF Energy Inc over the past eight quarters, we observe fluctuations in the collection period. In Q1 2022, the DSO stood at 21.05 days, signaling a longer collection period, which improved in subsequent quarters. The DSO decreased steadily to 9.20 days in Q1 2023, indicating an efficient collection process during that quarter.

However, in Q2 and Q3 2023, the DSO increased to 11.88 days and 14.44 days, respectively. This uptrend suggests a potential slowdown in collecting payments from customers during these periods compared to Q1 2023. Notably, the DSO decreased again in Q4 2023 to 12.98 days, but it remained higher than the exceptionally low DSO in Q1 2023.

Overall, PBF Energy Inc should continue to monitor and manage its DSO closely to ensure efficient cash flow management. A sustained low DSO would indicate effective credit and collection policies, contributing to the company's financial health.