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Chipotle Mexican Grill Asset Turnover

: 0.27 (As of Mar. 2020)
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Asset Turnover measures how quickly a company turns over its asset through sales. It is calculated as Revenue divided by Total Assets. Chipotle Mexican Grill's Revenue for the three months ended in Mar. 2020 was $1,411 Mil. Chipotle Mexican Grill's Total Assets for the quarter that ended in Mar. 2020 was $5,156 Mil. Therefore, Chipotle Mexican Grill's Asset Turnover for the quarter that ended in Mar. 2020 was 0.27.

Asset Turnover is linked to ROE % through Du Pont Formula. Chipotle Mexican Grill's annualized ROE % for the quarter that ended in Mar. 2020 was 18.21%. It is also linked to ROA % through Du Pont Formula. Chipotle Mexican Grill's annualized ROA % for the quarter that ended in Mar. 2020 was 5.93%.

Chipotle Mexican Grill Asset Turnover Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

* Premium members only.

Chipotle Mexican Grill Annual Data
Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19
Asset Turnover Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.71 1.64 2.20 2.26 1.52

Chipotle Mexican Grill Quarterly Data
Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20
Asset Turnover Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.38 0.31 0.29 0.29 0.27

Chipotle Mexican Grill Asset Turnover Calculation

Asset Turnover measures how quickly a company turns over its asset through sales.

Chipotle Mexican Grill's Asset Turnover for the fiscal year that ended in Dec. 2019 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (A: Dec. 2019 )/( (Total Assets (A: Dec. 2018 )+Total Assets (A: Dec. 2019 ))/ count )
=5586.369/( (2265.518+5104.604)/ 2 )
=5586.369/3685.061
=1.52

Chipotle Mexican Grill's Asset Turnover for the quarter that ended in Mar. 2020 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (Q: Mar. 2020 )/( (Total Assets (Q: Dec. 2019 )+Total Assets (Q: Mar. 2020 ))/ count )
=1410.772/( (5104.604+5206.488)/ 2 )
=1410.772/5155.546
=0.27

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

Companies with low profit margins tend to have high Asset Turnover, while those with high profit margins have low Asset Turnover. Companies in the retail industry tend to have a very high turnover ratio.

Chipotle Mexican Grill  (NYSE:CMG) Asset Turnover Explanation

Asset Turnover is linked to ROE % through Du Pont Formula.

Chipotle Mexican Grill's annulized ROE % for the quarter that ended in Mar. 2020 is

ROE %(Q: Mar. 2020 )
=Net Income/Total Stockholders Equity
=305.552/1677.523
=(Net Income / Revenue)*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(305.552 / 5643.088)*(5643.088 / 5155.546)*(5155.546/ 1677.523)
=Net Margin %*Asset Turnover*Leverage Ratio
=5.41 %*1.0946*3.0733
=ROA %*Leverage Ratio
=5.93 %*3.0733
=18.21 %

Note: The Net Income data used here is four times the quarterly (Mar. 2020) net income data. The Revenue data used here is four times the quarterly (Mar. 2020) revenue data.

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

It is also linked to ROA % through Du Pont Formula:

Chipotle Mexican Grill's annulized ROA % for the quarter that ended in Mar. 2020 is

ROA %(Q: Mar. 2020 )
=Net Income/Total Assets
=305.552/5155.546
=(Net Income / Revenue)*(Revenue / Total Assets)
=(305.552 / 5643.088)*(5643.088 / 5155.546)
=Net Margin %*Asset Turnover
=5.41 %*1.0946
=5.93 %

Note: The Net Income data used here is four times the quarterly (Mar. 2020) net income data. The Revenue data used here is four times the quarterly (Mar. 2020) revenue data.

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

Be Aware

In the article Joining The Dark Side: Pirates, Spies and Short Sellers, James Montier reported that In their US sample covering the period 1968-2003, Cooper et al find that firms with low asset growth outperformed firms with high asset growth by an astounding 20% p.a. equally weighted. Even when controlling for market, size and style, low asset growth firms outperformed high asset growth firms by 13% p.a. Therefore a company with fast asset growth may underperform.

Therefore, it is a good sign if a company's Asset Turnover is consistent or even increases. If a company's asset grows faster than sales, its Asset Turnover will decline, which can be a warning sign.

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