Papa John's International Inc (PZZA)

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	2,144,971	2,075,826	2,064,226	2,072,661	2,085,404	2,110,754	2,110,024	2,099,367	2,068,421	2,009,347	1,969,506	1,915,121	1,813,234	1,760,937	1,691,702	1,630,702	1,619,248	1,599,300	1,580,825	1,611,154
Total assets	US$ in thousands	875,005	877,565	873,643	864,861	864,227	829,748	836,272	885,626	885,704	889,954	855,744	918,285	872,770	816,675	757,737	718,268	730,721	730,565	726,564	739,068
Total asset turnover		2.45	2.37	2.36	2.40	2.41	2.54	2.52	2.37	2.34	2.26	2.30	2.09	2.08	2.16	2.23	2.27	2.22	2.19	2.18	2.18

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,144,971K ÷ $875,005K
= 2.45

Papa John's International, Inc. has consistently maintained a relatively high total asset turnover ratio over the past eight quarters. The ratio ranged between 2.37 and 2.54, with the most recent value for Q4 2023 at 2.44. This indicates that for each dollar of total assets, the company generated revenue in the range of 2.37 to 2.54 dollars.

The consistent levels of total asset turnover suggest that Papa John's efficiently utilizes its assets to generate sales, reflecting a healthy operational efficiency. A higher total asset turnover ratio generally indicates better asset utilization and operational performance, as the company is generating more revenue relative to its total assets.

Overall, the stable and relatively high total asset turnover ratios for Papa John's International, Inc. imply that the company effectively leverages its assets to support its revenue generation activities across multiple quarters.