Texas Roadhouse Inc (TXRH)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 4,627,390 | 4,009,110 | 3,460,580 | 2,394,680 | 2,750,280 |
| Total assets | US$ in thousands | 2,793,380 | 2,525,660 | 2,511,950 | 2,325,160 | 1,983,560 |
| Total asset turnover | 1.66 | 1.59 | 1.38 | 1.03 | 1.39 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $4,627,390K ÷ $2,793,380K
= 1.66
Texas Roadhouse Inc's total asset turnover has shown a fluctuating trend over the past five years. The ratio increased from 1.39 in 2019 to 1.66 in 2023, indicating that the company generated $1.66 in sales for every $1 of assets in 2023. This improvement suggests that Texas Roadhouse is becoming more efficient in utilizing its assets to generate revenue. The ratio peaked in 2023, which could be a result of better asset management or increased sales volume. Overall, the increasing trend in total asset turnover is a positive sign of operational efficiency and effective asset utilization by the company.
Peer comparison
Dec 31, 2023