PBF Energy Inc (PBF)

Cash ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash and cash equivalents	US$ in thousands	1,783,500	2,203,600	1,341,500	1,609,500	814,900
Short-term investments	US$ in thousands	—	—	—	—	—
Total current liabilities	US$ in thousands	4,217,300	5,200,700	3,759,700	2,451,500	2,509,200
Cash ratio		0.42	0.42	0.36	0.66	0.32

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($1,783,500K + $—K) ÷ $4,217,300K
= 0.42

The cash ratio of PBF Energy Inc has fluctuated over the past five years, ranging from 0.35 to 0.68. The cash ratio measures a company's ability to cover its short-term liabilities with its cash and cash equivalents. A higher cash ratio indicates a stronger ability to cover short-term obligations.

In 2023, the cash ratio was 0.49, showing a slight improvement from the previous year's 0.45. This suggests that PBF Energy Inc had a higher proportion of cash and cash equivalents relative to its current liabilities in 2023 compared to 2022.

The highest cash ratio of 0.68 was observed in 2020, indicating that PBF Energy Inc had a relatively strong liquidity position that year. On the other hand, the lowest cash ratio of 0.35 in 2019 suggests a lower level of cash reserves compared to its short-term liabilities.

Overall, the fluctuation in PBF Energy Inc's cash ratio over the years may reflect changes in the company's cash management practices, operating efficiency, or investment strategies. It is important for investors and analysts to monitor these trends to assess the company's liquidity and financial health.