BJs Restaurants Inc (BJRI)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	1,328,310	1,284,360	1,082,040	774,710	1,161,570
Property, plant and equipment	US$ in thousands	525,190	507,116	506,111	534,841	583,639
Fixed asset turnover		2.53	2.53	2.14	1.45	1.99

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $1,328,310K ÷ $525,190K
= 2.53

BJs Restaurants Inc's fixed asset turnover has been relatively stable over the past five years, with values ranging from 1.45 to 2.53. The fixed asset turnover ratio measures how efficiently the company is utilizing its fixed assets to generate revenue. The higher the ratio, the better, as it indicates that the company is generating more revenue per dollar of investment in fixed assets.

In 2023 and 2022, the fixed asset turnover remained constant at 2.53, which suggests that the company has been effectively utilizing its fixed assets to generate revenue consistently over these two years. This stability in the ratio reflects a steady efficiency in asset utilization.

In 2021, the fixed asset turnover decreased slightly to 2.14, indicating a potential decrease in efficiency in generating revenue from fixed assets compared to the previous year. However, the ratio was still relatively strong, suggesting that BJs Restaurants Inc was efficiently using its fixed assets.

The significant decrease in the fixed asset turnover to 1.45 in 2020 may indicate a potential decrease in efficiency in utilizing fixed assets to generate revenue. This could be due to various factors such as underutilization of assets, poor asset management, or a significant increase in fixed assets without a proportional increase in revenue.

In 2019, the fixed asset turnover was at 1.99, showing an improvement from the previous year but still lower than the more recent years. This improvement suggests that BJs Restaurants Inc enhanced its efficiency in generating revenue from fixed assets compared to 2020.

Overall, the trend in BJs Restaurants Inc's fixed asset turnover indicates varying levels of efficiency in utilizing fixed assets to generate revenue over the past five years, with some fluctuations but generally reflecting adequate asset utilization.