PBF Energy Inc (PBF)

Fixed asset turnover

		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
Revenue (ttm)	US$ in thousands	38,256,600	39,942,800	41,879,800	46,732,000	46,517,300	43,892,800	38,415,600	31,236,900	27,018,800	22,417,400	18,848,000	14,952,300	15,313,300	17,992,600	20,860,300	24,498,100	24,508,200	24,531,380	25,714,640	26,599,520
Property, plant and equipment	US$ in thousands	4,978,100	4,922,000	4,908,500	5,516,800	5,361,000	5,132,600	5,009,300	4,955,200	4,902,200	4,846,100	4,834,800	4,828,600	4,843,300	4,957,700	4,988,700	4,995,300	4,023,200	3,975,600	3,919,100	3,875,900
Fixed asset turnover		7.68	8.12	8.53	8.47	8.68	8.55	7.67	6.30	5.51	4.63	3.90	3.10	3.16	3.63	4.18	4.90	6.09	6.17	6.56	6.86

December 31, 2023 calculation

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

The fixed asset turnover ratio of PBF Energy Inc has shown a consistent and strong performance over the past eight quarters. The ratio has ranged between 6.35 and 8.74, indicating that the company efficiently utilizes its fixed assets to generate revenue. The higher the fixed asset turnover ratio, the more effectively the company is using its fixed assets to generate sales.

In particular, the company saw significant improvement in fixed asset turnover from Q1 2022 to Q2 2023, with the ratio increasing from 6.35 to 8.57. This suggests that PBF Energy Inc has been able to generate more revenue per dollar of fixed assets during this period, reflecting improved operational efficiency or increased sales.

Overall, the trend of increasing fixed asset turnover ratios over the quarters signifies that PBF Energy Inc has been successful in optimizing the utilization of its fixed assets to drive sales growth and enhance overall operational performance.