Chipotle Mexican Grill Inc (CMG)

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	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
Total assets	US$ in thousands	8,044,360	7,911,490	7,552,440	7,053,370	6,927,500	6,817,440	6,545,340	6,467,260	6,652,960	6,627,570	6,320,450	6,149,060	5,982,900	5,631,640	5,370,130	5,206,490	5,104,600	4,937,940	4,659,310	4,625,480
Total asset turnover		1.23	1.21	1.23	1.27	1.25	1.23	1.24	1.21	1.13	1.09	1.08	1.03	1.00	1.03	1.05	1.09	1.09	1.09	1.11	1.09

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $9,871,650K ÷ $8,044,360K
= 1.23

Chipotle Mexican Grill's total asset turnover ratio has been relatively stable over the past eight quarters, ranging from 1.21 to 1.27. This indicates that, on average, the company generates between $1.21 to $1.27 in revenue for every dollar of assets it owns. The consistency in the total asset turnover ratio suggests that Chipotle is efficiently utilizing its assets to generate sales. Overall, the company's ability to generate revenue from its assets is in line with industry standards and reflects effective asset management.