BJs Restaurants Inc (BJRI)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	378,720	343,767	306,178	190,745	351,557
Revenue	US$ in thousands	1,328,310	1,284,360	1,082,040	774,710	1,161,570
Gross profit margin		28.51%	26.77%	28.30%	24.62%	30.27%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $378,720K ÷ $1,328,310K
= 28.51%

Based on the data provided, BJs Restaurants Inc's gross profit margin has fluctuated over the past five years. In 2019, the gross profit margin was at its highest at 30.27%, indicating that the company was able to effectively control its production costs and generate a higher margin on its sales. However, by 2020, the gross profit margin decreased to 24.62%, suggesting that the company may have experienced challenges in managing its costs or pricing strategies.

Subsequently, in 2021, there was an improvement in the gross profit margin to 28.30%, showing a positive trend in the company's ability to increase profitability. This improvement continued in 2022 with a gross profit margin of 26.77%, although slightly lower than the previous year. In 2023, the gross profit margin further increased to 28.51%, indicating that BJs Restaurants Inc was able to enhance its efficiency in generating profits from its sales.

Overall, the trend in BJs Restaurants Inc's gross profit margin indicates fluctuations over the years, with some improvements seen in recent years. It is essential for the company to continue monitoring and managing its production costs and pricing strategies effectively to sustain and further enhance its profitability in the future.