PBF Energy Inc (PBF)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	38,256,600	46,517,300	27,018,800	15,313,300	24,508,200
Property, plant and equipment	US$ in thousands	4,978,100	5,361,000	4,902,200	4,843,300	4,023,200
Fixed asset turnover		7.68	8.68	5.51	3.16	6.09

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $38,256,600K ÷ $4,978,100K
= 7.68

The fixed asset turnover ratio for PBF Energy Inc has shown fluctuations over the past five years. The ratio was highest in 2022 at 8.74, indicating that the company generated $8.74 in sales for every dollar invested in fixed assets during that year. This suggests efficient utilization of fixed assets to generate revenue.

In 2023, the fixed asset turnover decreased to 7.70, although it remained relatively high, signaling that the company is still effectively using its fixed assets to generate sales. The ratio was also notably high in 2019 at 6.09, reflecting efficient asset management during that period.

Conversely, the fixed asset turnover ratio was lower in 2020 and 2021 at 3.12 and 5.56, respectively. This may indicate a decrease in sales generated per dollar of fixed assets invested during those years, suggesting potential inefficiencies in asset utilization.

Overall, the trend in the fixed asset turnover ratio for PBF Energy Inc shows varying levels of efficiency in utilizing fixed assets to generate sales, with fluctuations observed over the five-year period.