BJs Restaurants Inc (BJRI)

Inventory 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
Cost of revenue (ttm)	US$ in thousands	1,008,190	1,028,925	1,029,076	1,022,357	940,589	896,175	873,660	839,228	775,858	705,264	644,818	545,397	571,965	637,519	690,081	793,906	810,011	799,696	790,967	779,704
Inventory	US$ in thousands	13,245	14,434	11,994	12,186	11,887	11,760	11,777	11,391	11,579	11,215	10,904	10,425	10,671	9,911	10,504	10,517	11,102	10,472	10,589	10,678
Inventory turnover		76.12	71.28	85.80	83.90	79.13	76.21	74.18	73.67	67.01	62.89	59.14	52.32	53.60	64.32	65.70	75.49	72.96	76.37	74.70	73.02

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,008,190K ÷ $13,245K
= 76.12

BJs Restaurants Inc's inventory turnover has shown a fluctuating trend over the past few years, ranging from a low of 52.32 in March 2021 to a high of 85.80 in June 2023. Overall, the company has maintained a relatively high level of inventory turnover, indicating its ability to efficiently manage its inventory levels and convert inventory into sales. A high inventory turnover ratio suggests that the company is selling its inventory quickly, which could be a positive sign of effective inventory management and demand for its products. However, it is essential to monitor inventory turnover regularly to ensure optimal inventory levels and avoid overstocking or stockouts that could impact the company's profitability and operational efficiency.