BJs Restaurants Inc (BJRI)

Operating return on assets (Operating ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	13,759	-5,480	-16,507	-86,431	49,119
Total assets	US$ in thousands	1,058,450	1,045,920	1,035,170	1,059,420	1,072,080
Operating ROA		1.30%	-0.52%	-1.59%	-8.16%	4.58%

December 31, 2023 calculation

Operating ROA = Operating income ÷ Total assets
= $13,759K ÷ $1,058,450K
= 1.30%

The operating return on assets (operating ROA) for BJs Restaurants Inc has fluctuated over the past five years. In 2019, the operating ROA was a positive 4.58%, indicating that the company was able to generate profits from its operations relative to its total assets. However, in 2020, there was a significant decline to -8.16%, indicating that the company's operating performance worsened significantly, possibly due to operational challenges or inefficiencies.

The trend continued in 2021 and 2022, with operating ROA remaining negative at -1.59% and -0.52% respectively, signifying that the company continued to struggle in generating profits from its assets. This downward trend could raise concerns about the company's operational effectiveness and profitability.

In 2023, there was a slight improvement in the operating ROA to 1.30%, indicating a positive shift in the company's ability to generate profits from its operations relative to its assets. While this improvement is a positive sign, further analysis would be needed to determine the sustainability of this trend and whether it reflects a positive change in the company's operational efficiency and profitability.