The Cheesecake Factory (CAKE)

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	2,573,389	2,589,182	2,542,973	2,509,446	3,303,156	3,187,047	3,157,520	3,093,833	2,927,540	2,705,399	2,468,641	1,995,536	1,983,225	2,122,703	2,191,523	2,498,317	2,482,692	2,373,817	2,362,441	2,347,115
Total assets	US$ in thousands	2,840,380	2,776,890	2,769,710	2,742,490	2,775,220	2,734,070	2,772,430	2,753,740	2,798,120	2,717,720	2,722,290	2,735,440	2,747,050	2,828,060	2,867,280	2,675,780	2,840,590	2,381,770	2,073,790	2,076,080
Total asset turnover		0.91	0.93	0.92	0.92	1.19	1.17	1.14	1.12	1.05	1.00	0.91	0.73	0.72	0.75	0.76	0.93	0.87	1.00	1.14	1.13

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,573,389K ÷ $2,840,380K
= 0.91

The Cheesecake Factory's total asset turnover ratio has been fluctuating over the past few quarters. The total asset turnover ratio measures how efficiently a company is using its assets to generate revenue. A higher ratio indicates that the company is generating more sales from its assets.

In recent quarters, The Cheesecake Factory's total asset turnover ratio has shown a downward trend, with values ranging from 0.91 to 1.19. The higher ratios observed in earlier periods suggest that the company was more efficient in utilizing its assets to generate sales.

However, in the most recent quarters, the total asset turnover ratio has declined, indicating a decrease in efficiency in generating revenue from its assets. This could be a sign of less effective management of assets or potentially slower sales growth relative to the size of the asset base.

Overall, it is important for The Cheesecake Factory to closely monitor its total asset turnover ratio and take appropriate measures to improve asset efficiency in order to maximize sales generation and profitability.