The Chefs Warehouse Inc (CHEF)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,390,260 | 2,556,590 | 1,728,410 | 1,090,630 | 1,573,980 |
| Total assets | US$ in thousands | 1,705,310 | 1,509,300 | 1,073,800 | 974,325 | 1,013,680 |
| Total asset turnover | 1.99 | 1.69 | 1.61 | 1.12 | 1.55 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $3,390,260K ÷ $1,705,310K
= 1.99
The total asset turnover ratio for The Chefs Warehouse Inc has exhibited a fluctuating trend over the past five years. The ratio increased from 1.55 in 2019 to 1.61 in 2021, indicating an improvement in the company's efficiency in generating sales from its total assets. However, in 2022, the total asset turnover ratio slightly decreased to 1.69 before experiencing a more noticeable increase to 1.99 in 2023.
The increase in total asset turnover from 2022 to 2023 suggests that the company was able to generate more revenue relative to its total assets invested, indicating improved asset utilization. Overall, a higher total asset turnover ratio signifies that The Chefs Warehouse Inc is more efficient in utilizing its assets to generate sales, which can be a positive indication of operational efficiency and effective asset management within the company.
Peer comparison
Dec 31, 2023