PBF Energy Inc (PBF)

Total asset 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
Total assets	US$ in thousands	14,387,800	14,692,800	14,034,200	13,139,100	13,549,100	13,304,300	13,975,700	12,948,300	11,641,400	11,844,200	11,654,200	11,270,100	10,499,800	10,191,300	10,073,300	9,134,100	9,132,400	8,917,400	8,809,700	9,126,100
Total asset turnover		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	2.68	2.75	2.92	2.91

December 31, 2023 calculation

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

Total asset turnover measures how efficiently a company is utilizing its assets to generate revenue. A higher total asset turnover ratio indicates better asset utilization.

Based on the data provided for PBF Energy Inc over the past eight quarters, we observe fluctuations in the total asset turnover ratio. The ratio ranged from 2.43 to 3.58, showing variability in asset utilization efficiency over time.

In Q1 2023, the total asset turnover ratio was at its peak at 3.58, indicating that the company generated $3.58 in revenue for every $1 of assets. This suggests efficient asset utilization during that period. However, in Q2 2023, the ratio dropped to 3.00 before further decreasing to 2.72 in Q3 2023 and 2.66 in Q4 2023.

Despite the fluctuations, the total asset turnover ratio generally remained above 2.0, reflecting a consistent ability to generate revenue relative to the level of assets held by the company.

Overall, the trend in total asset turnover for PBF Energy Inc suggests varying levels of efficiency in asset utilization over the past eight quarters, with some quarters performing better than others in converting assets into revenue.