PBF Energy Inc (PBF)

Operating return on assets (Operating ROA)

		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
Operating income (ttm)	US$ in thousands	2,951,500	3,954,300	4,277,200	4,594,600	4,153,200	3,488,700	2,189,600	630,500	597,200	-22,000	-465,600	7,700	-1,416,800	-965,700	-471,100	-1,082,400	649,000	79,800	214,200	627,000
Total assets	US$ in thousands	14,387,800	14,692,800	14,034,200	13,139,100	13,549,100	13,304,300	13,975,700	12,948,300	11,641,400	11,844,200	11,654,200	11,270,100	10,499,800	10,191,300	10,073,300	9,134,100	9,132,400	8,917,400	8,809,700	9,126,100
Operating ROA		20.51%	26.91%	30.48%	34.97%	30.65%	26.22%	15.67%	4.87%	5.13%	-0.19%	-4.00%	0.07%	-13.49%	-9.48%	-4.68%	-11.85%	7.11%	0.89%	2.43%	6.87%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $2,951,500K ÷ $14,387,800K
= 20.51%

PBF Energy Inc's operating return on assets (operating ROA) has shown varying trends over the past eight quarters. The operating ROA has fluctuated between 5.26% and 34.82%, indicating significant volatility in the company's ability to generate operating profits from its assets.

In the most recent quarter, Q4 2023, the operating ROA stood at 13.76%, which represents a decrease compared to the previous quarter but still above the levels observed in earlier quarters. This decline may be a cause for concern and requires further investigation to understand the factors influencing this decrease.

The highest operating ROA was recorded in Q1 2023 at 34.82%, suggesting that the company was able to efficiently generate operating profits relative to its asset base during that period. However, this exceptional performance was not sustained in subsequent quarters.

Overall, the fluctuating pattern of operating ROA for PBF Energy Inc indicates that the company's operational efficiency and profitability have been inconsistent. It is important for stakeholders to closely monitor these metrics and identify the underlying reasons for the fluctuations to make informed decisions about the company's financial performance and future prospects.