Texas Roadhouse Inc (TXRH)

Operating return on assets (Operating ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	353,989	320,197	297,192	23,844	212,023
Total assets	US$ in thousands	2,793,380	2,525,660	2,511,950	2,325,160	1,983,560
Operating ROA		12.67%	12.68%	11.83%	1.03%	10.69%

December 31, 2023 calculation

Operating ROA = Operating income ÷ Total assets
= $353,989K ÷ $2,793,380K
= 12.67%

Texas Roadhouse Inc's operating return on assets (operating ROA) has shown a fluctuating trend over the past five years. In 2023, the operating ROA stood at 12.67%, slightly lower than the previous year's 12.68%, indicating a stable performance. The company's ability to generate operating income from its assets remained relatively consistent.

In comparison, there was a significant increase in operating ROA in 2021, reaching 11.83% from the low of 1.03% in 2020. This improvement signaled a notable recovery and operational efficiency after a challenging year. Furthermore, the company achieved a strong operating ROA of 10.69% in 2019, demonstrating consistent profitability and effective asset utilization.

Overall, Texas Roadhouse Inc's operating ROA performance reflects varying levels of efficiency in utilizing its assets to generate operating income. The recent stability in operating ROA suggests a continued focus on profitability and operational effectiveness.