BJs Restaurants Inc (BJRI)

Fixed asset turnover

		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
Revenue (ttm)	US$ in thousands	1,329,435	1,353,770	1,346,842	1,327,541	1,284,356	1,228,368	1,198,798	1,158,226	1,082,036	988,731	906,786	744,179	775,398	869,461	949,012	1,124,020	1,161,450	1,150,906	1,142,435	1,128,979
Property, plant and equipment	US$ in thousands	525,190	527,686	522,610	510,857	507,116	505,247	500,396	498,789	506,111	501,211	508,719	521,203	534,841	547,592	560,951	580,039	583,639	589,268	581,605	582,509
Fixed asset turnover		2.53	2.57	2.58	2.60	2.53	2.43	2.40	2.32	2.14	1.97	1.78	1.43	1.45	1.59	1.69	1.94	1.99	1.95	1.96	1.94

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,329,435K ÷ $525,190K
= 2.53

The fixed asset turnover ratio for BJs Restaurants Inc has been relatively stable over the past few quarters, ranging between 1.43 and 2.60. This ratio indicates that, on average, the company generates approximately 2 to 2.6 dollars in revenue for every dollar invested in fixed assets.

The trend shows an improvement in fixed asset turnover since Q1 2021, when it was at 1.43, reaching its peak at 2.60 in Q1 2023. This may suggest that BJs Restaurants Inc has been utilizing its fixed assets more efficiently to generate sales revenue.

Although there was some fluctuation in the ratio quarter over quarter, the overall trend indicates positive performance in terms of utilizing fixed assets effectively to generate revenue. It is essential for the company to continue monitoring and managing its fixed assets efficiently to maintain or improve its fixed asset turnover ratio in the future.