PBF Energy Inc (PBF)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 38,256,600 | 46,517,300 | 27,018,800 | 15,313,300 | 24,508,200 |
| Receivables | US$ in thousands | 1,362,500 | 1,456,300 | 1,277,600 | 512,900 | 835,000 |
| Receivables turnover | 28.08 | 31.94 | 21.15 | 29.86 | 29.35 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $38,256,600K ÷ $1,362,500K
= 28.08
The receivables turnover ratio for PBF Energy Inc has fluctuated over the past five years, indicating variations in the company's efficiency in collecting payments from customers.
In 2023, the receivables turnover ratio was 28.13, which was a decrease from 2022's ratio of 32.16. This suggests that PBF Energy Inc took slightly longer to collect payments from customers in 2023 compared to 2022.
When compared to 2021, where the receivables turnover ratio was 21.33, the company improved its efficiency in collecting receivables in 2023. However, the ratio was slightly lower than in 2020 and 2019, where it stood at 29.47 and 29.35, respectively.
Overall, while there has been some fluctuation in the receivables turnover ratio, PBF Energy Inc generally maintains a healthy turnover rate, indicating efficient management of accounts receivables and a timely collection of payments from customers.
Peer comparison
Dec 31, 2023