PBF Energy Inc (PBF)

Cash ratio

		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
Cash and cash equivalents	US$ in thousands	1,783,500	1,892,500	1,516,900	1,616,100	2,203,600	1,908,600	2,174,300	1,434,600	1,341,500	1,472,500	1,479,700	1,541,200	1,609,500	1,282,600	1,225,200	722,100	814,900	536,300	204,100	418,300
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
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
Cash ratio		0.42	0.43	0.35	0.35	0.42	0.35	0.32	0.28	0.36	0.35	0.39	0.45	0.66	0.66	0.60	0.35	0.32	0.23	0.09	0.16

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 been relatively stable over the past eight quarters, ranging from 0.33 to 0.49. This ratio indicates the company's ability to cover its short-term liabilities with its cash and cash equivalents.

The consistent cash ratio above 0.4 suggests that PBF Energy Inc has a healthy level of liquidity compared to its current liabilities. It indicates that the company has sufficient cash on hand to meet its short-term obligations without relying heavily on external financing or asset liquidation.

Although the cash ratio has fluctuated slightly quarter to quarter, the general trend shows a gradual improvement in liquidity since Q1 2022. This indicates that the company may be managing its cash resources more effectively or experiencing stronger cash flows in recent quarters.

Overall, the stable and relatively high cash ratio of PBF Energy Inc suggests a sound financial position in terms of short-term liquidity management. However, further analysis of other liquidity ratios and detailed examination of the company's cash management practices would provide a more comprehensive assessment of its overall financial health.