PBF Energy Inc (PBF)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 6,596,600 | 6,546,300 | 5,199,200 | 3,867,400 | 3,823,700 |
| Total current liabilities | US$ in thousands | 4,217,300 | 5,200,700 | 3,759,700 | 2,451,500 | 2,509,200 |
| Current ratio | 1.56 | 1.26 | 1.38 | 1.58 | 1.52 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $6,596,600K ÷ $4,217,300K
= 1.56
The current ratio of PBF Energy Inc has fluctuated over the past five years, ranging from 1.26 to 1.58. The current ratio measures a company's ability to cover its short-term liabilities with its short-term assets. A ratio above 1 indicates that the company's current assets exceed its current liabilities.
In 2023, PBF Energy Inc's current ratio improved to 1.56 from 1.26 in 2022, suggesting a stronger ability to meet its short-term obligations. However, it is essential to closely monitor this ratio over time to ensure that the company maintains a healthy liquidity position.
The current ratio of 1.56 in 2023 may indicate that PBF Energy Inc has ample current assets to cover its current liabilities. It is worth noting that a current ratio that is too high may indicate that the company is not efficiently utilizing its current assets, while a ratio that is too low may signal liquidity issues.
Peer comparison
Dec 31, 2023