PBF Energy Inc (PBF)

Return on assets (ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	2,140,500	2,876,800	231,000	-1,392,400	319,400
Total assets	US$ in thousands	14,387,800	13,549,100	11,641,400	10,499,800	9,132,400
ROA		14.88%	21.23%	1.98%	-13.26%	3.50%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $2,140,500K ÷ $14,387,800K
= 14.88%

PBF Energy Inc's return on assets (ROA) has varied significantly over the past five years. In 2023, the ROA stood at 14.88%, representing a decrease from the previous year's figure of 21.23%. Despite this decrease, the ROA in 2023 remains relatively healthy compared to historical levels.

The significant improvement in ROA from 2020 to 2022, where it rose from a negative figure of -13.26% to 21.23%, indicates a strong rebound in the company's profitability and efficiency in utilizing its assets during this period. However, the ROA in 2021, at 1.98%, was relatively low compared to the surrounding years.

Overall, the fluctuation in ROA over the years suggests that PBF Energy Inc has experienced both periods of strong asset utilization and profitability as well as challenges that have impacted its overall efficiency in generating returns from its assets. Further analysis of the underlying factors driving these fluctuations would be necessary to provide a more in-depth understanding of the company's performance.