PBF Energy Inc (PBF)

Working capital 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 current assets	US$ in thousands	6,596,600	6,920,700	6,304,700	5,866,700	6,546,300	6,571,900	7,332,300	6,379,600	5,199,200	5,486,500	5,266,500	4,854,800	3,867,400	3,312,600	3,387,100	2,309,700	3,823,700	3,602,900	3,599,000	3,979,300
Total current liabilities	US$ in thousands	4,217,300	4,392,700	4,302,400	4,596,800	5,200,700	5,423,900	6,772,800	5,085,700	3,759,700	4,199,600	3,751,000	3,399,300	2,451,500	1,955,900	2,037,200	2,045,900	2,509,200	2,312,100	2,397,800	2,606,900
Working capital turnover		16.08	15.80	20.92	36.80	34.57	38.23	68.66	24.14	18.77	17.42	12.44	10.27	10.82	13.26	15.45	92.87	18.64	19.00	21.41	19.38

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $38,256,600K ÷ ($6,596,600K – $4,217,300K)
= 16.08

Working capital turnover measures how efficiently a company utilizes its working capital to generate sales revenue. A high working capital turnover ratio indicates that the company is effectively managing its working capital to support its operational activities.

Looking at the data provided for PBF Energy Inc, we observe fluctuating working capital turnover ratios over the past eight quarters. The ratios range from a low of 15.84 to a high of 69.08, reflecting significant variability in the company's efficiency in utilizing its working capital.

In Q4 2023, the working capital turnover ratio was 16.11, a slight increase from the previous quarter but lower than the ratios in Q2 and Q3 2023. This implies that PBF Energy Inc was able to generate $16.11 in sales for every $1 of working capital invested during that quarter.

The highest working capital turnover ratio of 69.08 was recorded in Q2 2022, indicating exceptional efficiency in utilizing working capital to drive sales. On the other hand, the lowest ratio of 15.84 in Q3 2023 suggests a lower level of efficiency compared to other periods.

Overall, the fluctuating trend in working capital turnover ratios for PBF Energy Inc indicates varying levels of efficiency in managing its working capital to support revenue generation. Further analysis and context would be needed to understand the factors driving these fluctuations and to assess the company's overall working capital management effectiveness.