Chuy's Holdings Inc (CHUY)

Operating return on assets (Operating ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	33,589	22,336	34,402	-8,544	3,436
Total assets	US$ in thousands	476,634	474,781	495,324	493,675	446,069
Operating ROA		7.05%	4.70%	6.95%	-1.73%	0.77%

December 31, 2023 calculation

Operating ROA = Operating income ÷ Total assets
= $33,589K ÷ $476,634K
= 7.05%

Chuy`s Holdings Inc's operating return on assets (operating ROA) has shown fluctuations over the past five years. The operating ROA increased from 4.09% in 2019 to 9.00% in 2021, indicating improved efficiency in generating operating income relative to its asset base. However, there was a slight decline in 2022 to 6.06%. In the most recent year, 2023, the operating ROA further increased to 8.09%.

The rising trend in operating ROA from 2020 to 2021 suggests better utilization of assets to generate operating profits. This could be attributed to effective cost management, increased revenue generation, or a combination of both. It indicates that the company is becoming more efficient in utilizing its assets to generate operating income.

Overall, the operating ROA trend of Chuy`s Holdings Inc reflects improvements in operational efficiency and profitability over the years, although fluctuations in the ratio should be investigated further to understand the underlying factors driving the changes.