Chuy's Holdings Inc (CHUY)

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	461,310	449,064	442,282	434,227	422,215	416,779	412,036	409,243	396,467	376,510	356,603	314,162	320,952	344,276	371,326	418,746	426,357	421,160	413,253	406,461
Total assets	US$ in thousands	476,634	474,303	487,822	479,433	474,781	479,400	488,616	479,849	495,324	499,427	515,905	498,165	493,675	487,686	486,081	449,414	446,069	448,335	455,193	442,693
Total asset turnover		0.97	0.95	0.91	0.91	0.89	0.87	0.84	0.85	0.80	0.75	0.69	0.63	0.65	0.71	0.76	0.93	0.96	0.94	0.91	0.92

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $461,310K ÷ $476,634K
= 0.97

Chuy`s Holdings Inc's total asset turnover has been showing a gradual improvement over the past eight quarters. The ratio has increased from 0.84 in Q2 2022 to 0.97 in Q4 2023. This indicates that the company is generating more revenue for every dollar of assets it owns. A total asset turnover ratio of less than 1 suggests that the company is not efficiently utilizing its assets to generate sales. However, the upward trend in the ratio indicates that Chuy`s Holdings Inc is becoming more efficient in utilizing its assets to generate revenue over time. This improvement can be a positive sign of increasing operational efficiency and financial performance of the company.