PBF Energy Inc (PBF)

Inventory 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
Cost of revenue (ttm)	US$ in thousands	35,926,200	36,748,700	38,434,400	41,925,400	42,151,700	40,140,200	35,966,800	30,524,700	26,366,200	22,336,100	19,298,900	14,920,300	16,745,600	18,976,300	21,239,900	25,415,600	23,595,100	24,179,600	25,266,500	25,733,200
Inventory	US$ in thousands	3,183,100	3,180,900	2,832,300	2,854,900	2,763,600	2,689,500	2,976,300	2,893,500	2,505,100	2,831,400	2,636,200	2,312,400	1,686,200	1,485,600	1,620,200	986,500	2,122,200	2,130,400	2,314,400	2,566,500
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

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $35,926,200K ÷ $3,183,100K
= 11.29

The inventory turnover for PBF Energy Inc has shown some fluctuations over the past eight quarters. The trend indicates that the inventory turnover ratio has generally been declining, with Q1 2023 having the highest turnover ratio of 13.53 and Q1 2022 recording the lowest ratio of 9.62.

Overall, the company has been able to effectively manage its inventory levels in the recent quarters, with the ratio consistently above 10. This suggests that PBF Energy Inc has been efficient in selling its inventory and replenishing it with new stock. However, the decreasing trend in the ratio may warrant a closer look to ensure that the company is not overstocking or facing challenges in selling its products in a timely manner.

It is essential for PBF Energy Inc to continue monitoring its inventory turnover ratio and make any necessary adjustments to optimize inventory management and improve operational efficiency. This analysis can provide valuable insights into the company's inventory handling practices and its ability to generate sales from the existing stock levels.