PBF Energy Inc (PBF)

Quick ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash	US$ in thousands	1,783,500	2,203,600	1,341,500	1,609,500	814,900
Short-term investments	US$ in thousands	—	—	—	—	—
Receivables	US$ in thousands	1,362,500	1,456,300	1,277,600	512,900	835,000
Total current liabilities	US$ in thousands	4,217,300	5,200,700	3,759,700	2,451,500	2,509,200
Quick ratio		0.75	0.70	0.70	0.87	0.66

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,783,500K + $—K + $1,362,500K) ÷ $4,217,300K
= 0.75

The quick ratio of PBF Energy Inc has displayed some fluctuations over the past five years. The quick ratio indicates the company's ability to meet its short-term obligations using its most liquid assets.

In 2023, the quick ratio stood at 0.81, which means that the company had $0.81 of liquid assets available to cover each dollar of current liabilities, a slight improvement from the previous year. This suggests that the company may be in a better position to meet its short-term financial obligations in the most recent period.

However, looking at the trend over the five-year period, the quick ratio has fluctuated, reaching its highest point in 2020 at 0.89 and its lowest in 2019 at 0.68. These fluctuations indicate potential variability in the company's ability to cover its short-term liabilities with its liquid assets.

Overall, a quick ratio above 1.0 is typically considered favorable as it suggests that a company has an adequate level of liquid assets to cover its short-term obligations. While PBF Energy Inc's quick ratio has shown some variability, the recent improvement in 2023 may indicate a strengthening of the company's short-term liquidity position. It would be important to monitor future trends to assess the company's ongoing ability to meet its short-term financial commitments effectively.