4.55(0.55%) Volume: 316,604 10:08PM EST| Market Cap : 22.99 B | Enterprise Value : 24.98 B | P/E (TTM) : 75.40 | P/B : 14.19 |
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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 Sep. 2019 was $1,404 Mil. Chipotle Mexican Grill's Total Assets for the quarter that ended in Sep. 2019 was $4,799 Mil. Therefore, Chipotle Mexican Grill's asset turnover for the quarter that ended in Sep. 2019 was 0.29.
Asset Turnover is linked to ROE % through Du Pont Formula. Chipotle Mexican Grill's annualized ROE % for the quarter that ended in Sep. 2019 was 24.95%. It is also linked to ROA % through Du Pont Formula. Chipotle Mexican Grill's annualized ROA % for the quarter that ended in Sep. 2019 was 8.22%.
* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.
| Chipotle Mexican Grill Quarterly Data | ||||||||||||||||||||
| Dec14 | Mar15 | Jun15 | Sep15 | Dec15 | Mar16 | Jun16 | Sep16 | Dec16 | Mar17 | Jun17 | Sep17 | Dec17 | Mar18 | Jun18 | Sep18 | Dec18 | Mar19 | Jun19 | Sep19 | |
| Asset Turnover |
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0.56 | 0.55 | 0.38 | 0.31 | 0.29 |
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. 2018 is calculated as
| Asset Turnover | ||||||
| = | Sales | / | Average Total Assets | |||
| = | Revenue (A: Dec. 2018 ) | / | ( (Total Assets (A: Dec. 2017 ) | + | Total Assets (A: Dec. 2018 )) | / 2 ) |
| = | 4864.985 | / | ( (2045.692 | + | 2265.518) | / 2 ) |
| = | 4864.985 | / | 2155.605 | |||
| = | 2.26 |
Chipotle Mexican Grill's Asset Turnover for the quarter that ended in Sep. 2019 is calculated as
| Asset Turnover | ||||||
| = | Sales | / | Average Total Assets | |||
| = | Revenue (Q: Sep. 2019 ) | / | ( (Total Assets (Q: Jun. 2019 ) | + | Total Assets (Q: Sep. 2019 )) | / 2 ) |
| = | 1403.697 | / | ( (4659.307 | + | 4937.937) | / 2 ) |
| = | 1403.697 | / | 4798.622 | |||
| = | 0.29 |
* 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.
Asset Turnover is linked to Return on Equity (ROE) through Du Pont Formula.
Chipotle Mexican Grill's annulized ROE % for the quarter that ended in Sep. 2019 is
| ROE % | (Q: Sep. 2019 ) | ||||
| = | Net Income | / | Total Stockholders Equity | ||
| = | 394.328 | / | 1580.248 | ||
| = | (Net Income / Revenue) | * | (Revenue / Total Assets) | * | (Total Assets / Total Stockholders Equity) |
| = | (394.328 / 5614.788) | * | (5614.788 / 4798.622) | * | (4798.622/ 1580.248) |
| = | Net Margin % | * | Asset Turnover | * | Leverage Ratio |
| = | 7.02 % | * | 1.1701 | * | 3.0366 |
| = | ROA % | * | Leverage Ratio | ||
| = | 8.22 % | * | 3.0366 | ||
| = | 24.95 % |
Note: The Net Income data used here is four times the quarterly (Sep. 2019) net income data. The Revenue data used here is four times the quarterly (Sep. 2019) 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 Return on Assets (ROA) through Du Pont Formula:
Chipotle Mexican Grill's annulized ROA % for the quarter that ended in Sep. 2019 is
| ROA % | (Q: Sep. 2019 ) | ||
| = | Net Income | / | Total Assets |
| = | 394.328 | / | 4798.622 |
| = | (Net Income / Revenue) | * | (Revenue / Total Assets) |
| = | (394.328 / 5614.788) | * | (5614.788 / 4798.622) |
| = | Net Margin % | * | Asset Turnover |
| = | 7.02 % | * | 1.1701 |
| = | 8.22 % |
Note: The Net Income data used here is four times the quarterly (Sep. 2019) net income data. The Revenue data used here is four times the quarterly (Sep. 2019) revenue data.
* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.
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.
From GuruFocus
By PRNewswire about CMG 2019-12-09 11:02:37
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