PBF Energy Inc (PBF)

Payables turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cost of revenue	US$ in thousands	33,487,500	35,926,200	42,151,700	26,366,200	16,745,600
Payables	US$ in thousands	735,600	959,000	854,600	911,700	407,000
Payables turnover		45.52	37.46	49.32	28.92	41.14

December 31, 2024 calculation

Payables turnover = Cost of revenue ÷ Payables
= $33,487,500K ÷ $735,600K
= 45.52

The payables turnover ratio is an important financial metric that indicates how efficiently a company manages its accounts payable. Looking at the data provided for PBF Energy Inc, we observe fluctuations in the payables turnover ratio over the period from December 31, 2020, to December 31, 2024.

- In December 2020, the payables turnover ratio stood at 41.14, indicating that on average, the company paid off its accounts payable 41.14 times during that period.
- By December 2021, the payables turnover ratio had decreased to 28.92, suggesting a decrease in the frequency with which the company paid off its accounts payable compared to the previous year.
- However, in December 2022, there was a notable increase in the payables turnover ratio to 49.32, indicating that the company improved its efficiency in managing its accounts payable and paid off its obligations more frequently.
- The ratio dropped slightly in December 2023 to 37.46, although it remained relatively high compared to the previous year.
- Finally, by December 2024, the payables turnover ratio increased to 45.52, showing a positive trend in the management of accounts payable over the period analyzed.

Overall, the fluctuations in the payables turnover ratio suggest varying levels of efficiency in managing the company's accounts payable. It is important for PBF Energy Inc to monitor this ratio closely to ensure timely payment of its obligations while maintaining good relationships with its suppliers.