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.


Peer comparison

Dec 31, 2023