Chipotle Mexican Grill Inc (CMG)

Fixed 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	9,871,650	9,535,930	9,284,160	8,982,700	8,634,660	8,414,690	8,146,830	7,826,030	7,547,070	7,194,150	6,843,240	6,315,440	5,984,630	5,817,140	5,619,430	5,688,920	5,586,370	5,371,210	5,192,520	5,024,810
Property, plant and equipment	US$ in thousands	2,170,040	2,093,010	2,021,960	1,981,330	1,951,150	1,871,620	1,813,350	1,779,520	1,769,280	1,719,220	1,666,180	1,613,670	1,584,310	1,547,220	1,498,050	1,465,670	1,458,690	1,425,450	1,387,900	1,366,680
Fixed asset turnover		4.55	4.56	4.59	4.53	4.43	4.50	4.49	4.40	4.27	4.18	4.11	3.91	3.78	3.76	3.75	3.88	3.83	3.77	3.74	3.68

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $9,871,650K ÷ $2,170,040K
= 4.55

The fixed asset turnover ratio for Chipotle Mexican Grill fluctuated over the past eight quarters, ranging from 4.40 to 4.59. The ratio measures how efficiently the company is generating revenue from its fixed assets. A higher fixed asset turnover ratio indicates that the company is utilizing its fixed assets more efficiently to generate sales. Chipotle's fixed asset turnover remained relatively stable, with minor fluctuations within a narrow range, suggesting consistent efficiency in generating sales from its fixed assets. This indicates that Chipotle is effectively using its fixed assets to drive revenues and may reflect strong operational performance and asset utilization within the company.