The Cheesecake Factory (CAKE)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,439,500 | 3,303,160 | 2,927,540 | 1,982,420 | 2,482,090 |
| Total assets | US$ in thousands | 2,840,380 | 2,775,220 | 2,798,120 | 2,747,050 | 2,840,590 |
| Total asset turnover | 1.21 | 1.19 | 1.05 | 0.72 | 0.87 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $3,439,500K ÷ $2,840,380K
= 1.21
The total asset turnover of The Cheesecake Factory has shown an increasing trend over the past five years. The ratio increased from 0.87 in 2019 to 1.21 in 2023, indicating that the company is generating more revenue relative to its total assets. This suggests that The Cheesecake Factory is becoming more efficient in utilizing its assets to generate sales. The increasing total asset turnover ratio implies that the company is managing its assets effectively to drive business performance and productivity. This upward trend in total asset turnover is a positive indicator of the company's operational efficiency and financial health.
Peer comparison
Dec 31, 2023