The Cheesecake Factory (CAKE)

Return on assets (ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	101,351	43,123	72,373	-253,365	127,293
Total assets	US$ in thousands	2,840,380	2,775,220	2,798,120	2,747,050	2,840,590
ROA		3.57%	1.55%	2.59%	-9.22%	4.48%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $101,351K ÷ $2,840,380K
= 3.57%

The return on assets (ROA) for The Cheesecake Factory has varied over the past five years. In 2023, the company's ROA improved to 3.57%, indicating that the company generated $0.0357 in net income for every dollar of assets it owns. This is a significant improvement compared to 2022 when the ROA was 1.55%.

In 2021, the ROA was 2.59%, showing solid performance, while 2020 saw a negative ROA of -9.22%, suggesting that the company incurred a loss relative to its asset base. The highest ROA in the given period was in 2019 at 4.48%, indicating strong profitability relative to its asset base.

Overall, The Cheesecake Factory's ROA has been volatile, with both positive and negative fluctuations. Investors and stakeholders may want to further investigate the drivers behind these changes to assess the company's ability to efficiently generate profits from its assets.