Chipotle Mexican Grill Inc (CMG)

Fixed asset turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	US$ in thousands	11,313,900	9,871,650	8,634,650	7,547,060	5,984,630
Property, plant and equipment	US$ in thousands	2,390,130	2,170,040	1,951,150	1,769,280	1,584,310
Fixed asset turnover		4.73	4.55	4.43	4.27	3.78

December 31, 2024 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $11,313,900K ÷ $2,390,130K
= 4.73

Chipotle Mexican Grill Inc's fixed asset turnover has shown a positive trend over the years, starting at 3.78 in December 31, 2020, and increasing steadily to 4.73 by December 31, 2024. This indicates that the company is generating more revenue relative to its investment in fixed assets, showing increased efficiency in asset utilization. The rising fixed asset turnover ratio suggests that Chipotle is utilizing its fixed assets more effectively to drive sales, which is a positive sign of operational efficiency and effective management of its asset base.