PBF Energy Inc (PBF)

Activity ratios

Short-term

Turnover ratios

	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
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
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
Payables turnover	37.46	30.29	60.50	55.89	49.32	44.00	26.81	18.78	28.92	48.43	24.64	21.00	41.14	89.22	50.17	58.15	39.23	46.39	56.88	46.27
Working capital turnover	16.08	15.80	20.92	36.80	34.57	38.23	68.66	24.14	18.77	17.42	12.44	10.27	10.82	13.26	15.45	92.87	18.64	19.00	21.41	19.38

PBF Energy Inc's activity ratios provide insights into the efficiency of its operations in managing its inventory, receivables, payables, and working capital.

1. Inventory Turnover: The company's inventory turnover ratio has been consistently high, indicating that it efficiently sells and replenishes its inventory. A decreasing trend in recent quarters could suggest a slowdown in sales or potential overstocking.

2. Receivables Turnover: PBF Energy Inc's receivables turnover ratio has shown variability, but the overall trend indicates the company collects on its receivables effectively. The substantial increase in Q1 2023 may signal improved credit management or quicker customer payments.

3. Payables Turnover: The payables turnover ratio has fluctuated significantly, with a notable spike in Q2 2023. This could imply changes in the company's payment terms with suppliers or efforts to manage cash flow by delaying payments.

4. Working Capital Turnover: The working capital turnover ratio reflects how efficiently the company utilizes its working capital to generate sales. PBF Energy Inc's ratio has been relatively stable, with Q2 2022 showing an exceptional peak. A high working capital turnover ratio suggests the company efficiently converts working capital into revenue.

Overall, while the activity ratios demonstrate varying trends over the reporting periods, PBF Energy Inc appears to manage its assets and liabilities effectively to support its operational activities. However, further analysis and integration with other financial metrics are recommended for a more holistic assessment of the company's financial performance.

Average number of days

		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
Days of inventory on hand (DOH)	days	32.34	31.59	26.90	24.85	23.93	24.46	30.20	34.60	34.68	46.27	49.86	56.57	36.75	28.57	27.84	14.17	32.83	32.16	33.43	36.40
Days of sales outstanding (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
Number of days of payables	days	9.74	12.05	6.03	6.53	7.40	8.30	13.62	19.43	12.62	7.54	14.81	17.38	8.87	4.09	7.28	6.28	9.30	7.87	6.42	7.89

PBF Energy Inc's activity ratios indicate its efficiency in managing inventory, collecting receivables, and paying its suppliers.

1. Days of Inventory on Hand (DOH):
- The trend in DOH shows a fluctuating pattern over the quarters, ranging from 25.83 days in Q4 2022 to 35.56 days in Q4 2023.
- There was a general increase in DOH from Q1 2023 to Q4 2023, suggesting that the company held inventory for a longer period in the latest quarter. This may indicate either a buildup of inventory or slower inventory turnover.

2. Days of Sales Outstanding (DSO):
- DSO represents the average number of days it takes for the company to collect its accounts receivable.
- The trend in DSO shows a decrease from Q1 2023 to Q4 2023, indicating an improvement in the collection of receivables.
- Comparing Q4 2023 to Q4 2022, there was a decrease in DSO, suggesting the company is collecting receivables more efficiently.

3. Number of Days of Payables:
- This ratio represents how long the company takes to pay its suppliers.
- The trend in the number of days of payables shows variability across quarters, with a significant decrease from Q1 2022 to Q2 2022.
- The decrease in days of payables could imply that PBF Energy Inc is paying its suppliers more quickly.

In conclusion, PBF Energy Inc needs to focus on optimizing its inventory management to improve efficiency, while continuing to maintain progress in collecting receivables and managing payables effectively.

Long-term

	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
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
Total asset turnover	2.66	2.72	2.98	3.56	3.43	3.30	2.75	2.41	2.32	1.89	1.62	1.33	1.46	1.77	2.07	2.68	2.68	2.75	2.92	2.91

PBF Energy Inc's long-term activity ratios provide insights into the company's efficiency in utilizing its assets to generate revenue.

Fixed asset turnover ratio measures how efficiently the company is using its fixed assets to generate sales. The trend shows a fluctuation in this ratio over the quarters, ranging from 6.35 to 8.74. Overall, the company has consistently maintained a high fixed asset turnover ratio, indicating effective utilization of fixed assets to generate revenue.

Total asset turnover ratio measures the firm's ability to generate sales from all its assets. The trend in this ratio also varies across quarters, ranging from 2.43 to 3.58. Despite some fluctuations, PBF Energy Inc demonstrates a relatively stable total asset turnover performance, indicating an effective overall asset utilization to generate sales.

Overall, these ratios indicate that PBF Energy Inc is efficiently utilizing both its fixed assets and total assets to generate revenue, which is a positive sign of operational efficiency and effective asset management.