Chipotle Mexican Grill Inc (CMG)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 9,871,650 | 8,634,650 | 7,547,060 | 5,984,630 | 5,586,370 |
| Total assets | US$ in thousands | 8,044,360 | 6,927,500 | 6,652,960 | 5,982,900 | 5,104,600 |
| Total asset turnover | 1.23 | 1.25 | 1.13 | 1.00 | 1.09 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $9,871,650K ÷ $8,044,360K
= 1.23
Chipotle Mexican Grill's total asset turnover has shown a fluctuating trend over the past five years. The ratio stood at 1.23 in 2023, slightly lower than the previous year's figure of 1.25. This decline indicates that the company generated $1.23 in revenue for every $1 of assets during 2023. The 2023 ratio is higher compared to 2020 and 2019, indicating improved efficiency in asset utilization. However, the ratio remains volatile, suggesting varying levels of productivity in converting assets into revenue. Overall, Chipotle Mexican Grill's total asset turnover reflects a mix of performance in effectively utilizing its total assets to generate sales in recent years.
Peer comparison
Dec 31, 2023