PBF Energy Inc (PBF)

Activity ratios

Short-term

Turnover ratios

	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Inventory turnover	12.90	13.39	12.47	12.32	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
Receivables turnover	28.43	27.96	24.63	31.90	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
Payables turnover	45.52	36.48	31.72	37.10	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
Working capital turnover	36.08	27.14	20.76	18.43	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

PBF Energy Inc's inventory turnover ratio has fluctuated over the years, starting at a relatively high level in March 2020 of 25.76 times and gradually decreasing to 12.90 times by December 2024. This indicates that the company's ability to sell its inventory efficiently has declined over time.

The receivables turnover ratio also shows a similar downward trend, decreasing from 55.79 times in March 2020 to 28.43 times by December 2024. This suggests that the company is taking longer to collect its accounts receivable, which may affect its liquidity and cash flow.

In contrast, the payables turnover ratio has shown more variability, with peaks and troughs observed throughout the years. The ratio started at 58.15 times in March 2020, dropped significantly in March 2021, and then gradually increased to 45.52 times by December 2024. This could imply changes in the company's relationships with its suppliers and its payment terms.

The working capital turnover ratio, which measures how efficiently the company is using its working capital to generate sales, has also shown fluctuations. The ratio started at 92.87 in March 2020, dropped sharply in June 2020, and then gradually increased over the years, reaching 36.08 by December 2024. This indicates that the company has improved its ability to generate revenue from its working capital over time.

Overall, the analysis of PBF Energy Inc's activity ratios suggests varied performance in managing its inventory, receivables, payables, and working capital over the years, indicating the need for closer monitoring and potential improvements in operational efficiency and cash flow management.

Average number of days

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Days of inventory on hand (DOH)	days	28.29	27.27	29.27	29.61	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
Days of sales outstanding (DSO)	days	12.84	13.06	14.82	11.44	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
Number of days of payables	days	8.02	10.00	11.51	9.84	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

PBF Energy Inc's activity ratios provide insights into the efficiency of its inventory management, accounts receivable collection, and accounts payable turnover.

1. Days of Inventory on Hand (DOH):
PBF Energy's DOH has varied over the years, ranging from a low of 14.17 days to a high of 56.57 days. A decrease in DOH indicates a faster turnover of inventory, which is favorable as it implies efficient inventory management. The company has shown a decreasing trend in recent periods, suggesting improved inventory turnover efficiency.

2. Days of Sales Outstanding (DSO):
PBF Energy's DSO represents the average number of days it takes for the company to collect revenue after a sale is made. The company has seen fluctuations in its DSO over time, with the range spanning from 6.54 days to 21.21 days. A lower DSO indicates quicker collection of accounts receivable, which is advantageous for cash flow management. PBF Energy has exhibited a declining trend in DSO, reflecting better efficiency in collecting revenue from its customers.

3. Number of Days of Payables:
PBF Energy's number of days of payables signifies the average time it takes for the company to pay its suppliers. The company's payables turnover has ranged from 4.09 days to 19.43 days. A lower number of days of payables suggests a shorter time frame for settling outstanding obligations, which can indicate good relationships with suppliers. PBF Energy has demonstrated fluctuations in this metric but generally maintained a moderate level of efficiency in paying its suppliers.

Overall, the analysis of PBF Energy Inc's activity ratios indicates improvements in inventory turnover and accounts receivable collection efficiency. However, the company could focus on managing its payables more effectively to optimize working capital management. Keep in mind that a comprehensive assessment of the company's financial health would require a holistic examination of its entire financial performance and position.

Long-term

	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Fixed asset turnover	6.54	6.95	7.44	7.53	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
Total asset turnover	2.61	2.65	2.64	2.72	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

PBF Energy Inc's Fixed Asset Turnover has shown a generally increasing trend over the past few years, indicating the company's ability to generate revenue relative to its investment in fixed assets. The ratio has improved from 4.90 in March 2020 to 6.54 in December 2024. This suggests that PBF Energy Inc is effectively utilizing its fixed assets to generate sales.

On the other hand, the Total Asset Turnover ratio, which measures the company's overall efficiency in generating sales from all assets, shows some fluctuations. It decreased from 2.68 in March 2020 to 1.46 in December 2020 but then started to increase, reaching 2.61 in December 2024. Although there are fluctuations, the trend shows an overall improvement in the company's ability to generate sales from its total assets.

Overall, both ratios indicate that PBF Energy Inc has been improving its operational efficiency and asset utilization over the years, which is a positive sign for the company's long-term growth and profitability.