BJs Restaurants Inc (BJRI)

Total 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
Total assets	US$ in thousands	1,058,450	1,037,140	1,041,260	1,044,170	1,045,920	1,017,550	1,031,120	1,020,060	1,035,170	1,041,160	1,069,100	1,085,730	1,059,420	1,066,750	1,102,730	1,113,030	1,072,080	1,058,200	1,055,520	1,058,250
Total asset turnover		1.26	1.31	1.29	1.27	1.23	1.21	1.16	1.14	1.05	0.95	0.85	0.69	0.73	0.82	0.86	1.01	1.08	1.09	1.08	1.07

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,329,435K ÷ $1,058,450K
= 1.26

The total asset turnover ratio for BJs Restaurants Inc has shown fluctuations over the past few quarters. The ratio peaked at 1.31 in September 2023 and has remained relatively stable around that level, indicating that the company is generating $1.31 in revenue for every dollar of assets on its balance sheet. This suggests efficient asset utilization by the company.

However, prior to the recent uptrend, the total asset turnover ratio had experienced a downward trend from December 2021 to March 2022, reaching 0.69. This indicates that the company was generating less revenue relative to its assets during that period, possibly due to inefficient asset management or lower sales volume.

Overall, the upward trend in the total asset turnover ratio from September 2022 to the current period suggests that BJs Restaurants Inc has improved its ability to generate sales from its assets, which is a positive sign for the company's efficiency and profitability.