PBF Energy Inc (PBF)

Total asset 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
Total assets	US$ in thousands	14,387,800	13,549,100	11,641,400	10,499,800	9,132,400
Total asset turnover		2.66	3.43	2.32	1.46	2.68

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $38,256,600K ÷ $14,387,800K
= 2.66

The total asset turnover ratio of PBF Energy Inc has fluctuated over the past five years, indicating variations in how efficiently the company generates sales revenue from its total assets.

In 2023, the total asset turnover was 2.66, which signifies that for every dollar of assets, PBF Energy generated $2.66 in sales revenue. This ratio decreased from 3.46 in 2022, indicating a potential decrease in asset utilization efficiency.

Comparing the recent ratio to previous years, PBF Energy had a relatively high total asset turnover ratio of 2.68 in 2019, similar to the 2023 ratio. However, the ratio dropped substantially to 1.44 in 2020 before experiencing an increase in 2021 to 2.34 and a subsequent decline in 2022 and 2023.

Overall, the fluctuations in the total asset turnover ratio may suggest changes in how effectively PBF Energy is utilizing its assets to generate sales. Further investigation into the company's operational and financial strategies could provide insights into the reasons behind these fluctuations.