PBF Energy Inc (PBF)

Receivables 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
Revenue (ttm)	US$ in thousands	38,256,600	39,942,800	41,879,800	46,732,000	46,517,300	43,892,800	38,415,600	31,236,900	27,018,800	22,417,400	18,848,000	14,952,300	15,313,300	17,992,600	20,860,300	24,498,100	24,508,200	24,531,380	25,714,640	26,599,520
Receivables	US$ in thousands	1,362,500	1,583,400	1,368,600	1,184,100	1,456,300	1,630,200	1,967,500	1,815,100	1,277,600	1,056,800	1,007,800	863,500	512,900	464,600	429,000	439,100	835,000	879,800	989,800	869,400
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

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $38,256,600K ÷ $1,362,500K
= 28.08

The receivables turnover for PBF Energy Inc has fluctuated over the past eight quarters, ranging from a low of 17.34 in Q1 2022 to a high of 39.68 in Q1 2023. The average receivables turnover for the period under review is approximately 27.61.

A higher receivables turnover ratio indicates that the company is collecting its outstanding receivables more efficiently. In contrast, a lower turnover ratio suggests that the company may be struggling to collect payments from its customers in a timely manner.

It is worth noting that the receivables turnover has generally been increasing since Q1 2022, peaking in Q1 2023 at 39.68. This improvement could signify more effective credit policies, better collection processes, or a more prompt payment behavior from customers. Conversely, the decrease in Q2 2023 from the previous quarter might indicate a temporary slowdown in collections efficiency.

Overall, analyzing the trend in receivables turnover provides valuable insights into PBF Energy Inc's ability to manage its accounts receivable and collect payments promptly.