Chipotle Mexican Grill

Consumer Discretionary Restaurants Newport Beach, California Last filing Feb 4, 2026 · FY2025

                    Revenue
                    FY2025
                
$11.9B
                    3y CAGR +11.4%
                    
                    P78
                    
                    +5.4%
                    
                    Net income
                    FY2025
                
$1.5B
                    Net margin +12.9%
                    
                    P74
                    
                    +0.1%
                    
                    Total assets
                    FY2025
                
$9.0B
                    ROA +17.1%
                    
                    P84
                    
                    -2.3%
                    
                    Operating cash flow
                    FY2025
                
$2.1B
                    FCF margin +12.1%
                    
                    P66
                    
                    +0.4%

18 yrs · FY2008–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

31 accounts · 10 years

Total assets $9.0B

Total liabilities $6.2B

Shareholders equity $2.8B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	+14.2%	+26.8%	+26.0%	+23.3%	+48.7%	+52.9%	+63.5%	+55.2%	+84.0%	—
Short Term Investments	—	—	—	—	—	—	—	—	—	—
Accounts Receivable	+16.2%	+17.2%	+16.2%	+17.6%	+19.7%	+26.8%	+25.8%	+24.1%	+0.0%	—
Inventory	+14.2%	+15.9%	+14.7%	+15.5%	+16.9%	+15.2%	+20.2%	+19.8%	+32.2%	—
Prepaid Expenses	+11.8%	+10.4%	+15.0%	+11.9%	+12.3%	+5.6%	+9.0%	+10.8%	+15.5%	—
Other Current Assets	+11.8%	+10.4%	+15.0%	+11.9%	+12.3%	+5.6%	+9.0%	+10.8%	+15.5%	—
Total Current Assets	+12.2%	+16.6%	+17.6%	+14.5%	+21.5%	+28.4%	+27.1%	+24.9%	+20.5%	—
Property,Plant and Equipment	+8.3%	+7.9%	+7.6%	+7.0%	+6.3%	+5.0%	+3.8%	+2.9%	+2.7%	—
Operating Lease Assets	—	—	—	—	—	—	—	—	—	—
Goodwill	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	—
Long Term Investments	—	—	—	—	—	—	—	—	—	—
Other Noncurrent Assets	+10.5%	+10.0%	+2.5%	+2.9%	+1.3%	+2.7%	-29.7%	-39.7%	+5.0%	—
Total Assets	+18.0%	+20.8%	+21.8%	+22.7%	+26.8%	+31.1%	+36.1%	+5.7%	+1.0%	—
Liabilities
Accounts Payable	+11.7%	+13.2%	+14.1%	+15.3%	+15.8%	+11.7%	+13.9%	+20.1%	+4.7%	—
Accrued Liabilities	+4.1%	+4.4%	+2.2%	+2.5%	+6.4%	+6.7%	+7.0%	+7.8%	+25.3%	—
Deferred Revenue	—	—	—	—	—	—	—	—	—	—
Operating Lease Liabilities	—	—	—	—	—	—	—	—	—	—
Other Current Liabilities	+9.5%	+9.7%	+8.2%	+4.3%	+2.6%	+3.4%	+4.6%	-3.5%	+18.0%	—
Total Current Liabilities	+17.3%	+19.5%	+20.4%	+21.8%	+25.4%	+30.7%	+33.2%	+26.4%	+14.9%	—
Operating Lease Liabilities Noncurrent	—	—	—	—	—	—	—	—	—	—
Deferred Tax Liabilities	-5.7%	-17.4%	-11.7%	-12.0%	-7.8%	-8.4%	-43.8%	-16.1%	-30.6%	—
Other Noncurrent Liabilities	+9.5%	+9.7%	+8.2%	+4.3%	+2.6%	+3.4%	+4.6%	-3.5%	+18.0%	—
Total Liabilities	+29.0%	+31.4%	+34.6%	+39.3%	+47.5%	+58.8%	+76.4%	+15.0%	+9.2%	—
Equity
Preferred Stock	—	—	—	—	—	—	—	—	—	—
Common Stock	+49.1%	+57.5%	+0.7%	+0.7%	+0.7%	+0.6%	+0.5%	+0.3%	+0.3%	—
Additional Paid In Capital	+6.6%	+6.7%	+6.7%	+6.7%	+6.9%	+5.8%	+5.8%	+5.3%	+5.3%	—
Retained Earnings	-13.2%	-4.2%	+15.4%	+13.8%	+12.1%	+10.2%	+9.6%	+7.7%	+7.9%	—
Treasury Stock	—	-7.7%	-14.9%	+13.1%	+10.4%	+8.1%	+9.6%	+10.5%	+13.9%	—
Accumulated Other Comprehensive Income	—	—	—	—	—	—	—	—	—	—
Total Stockholders Equity	+8.1%	+12.7%	+11.8%	+9.1%	+10.4%	+9.6%	+6.3%	+1.4%	-2.7%	—
Total Liabilitiesand Equity	+18.0%	+20.8%	+21.8%	+22.7%	+26.8%	+31.1%	+36.1%	+5.7%	+1.0%	—

Income Statement

Revenue, expense, and profitability

16 accounts · 10 years

Revenue $11.9B

Operating income $1.9B

Net income $1.5B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	+13.2%	+14.2%	+14.2%	+14.1%	+14.1%	+11.3%	+12.7%	+11.6%	+14.7%	—
Expenses Cost of Revenue	+11.1%	+11.7%	+11.5%	+11.6%	+11.7%	+10.1%	+9.9%	+9.1%	+8.7%	—
Expenses Selling,General and Administrative	+10.0%	+12.3%	+12.6%	+12.6%	+17.0%	+14.0%	+17.8%	+16.6%	+7.3%	—
Expenses Depreciation and Amortization	+10.6%	+10.9%	+11.8%	+11.9%	+11.7%	+13.0%	+13.3%	+17.5%	+11.6%	—
Expenses Share Based Compensation	+7.2%	+9.4%	+9.9%	+7.3%	+22.4%	+6.5%	+12.5%	+3.8%	+1.7%	—
Expenses Operating Expenses	+11.1%	+11.7%	+11.5%	+11.6%	+11.7%	+10.1%	+9.9%	+9.1%	+8.7%	—
Other Income Expense Operating Income	+56.4%	+65.2%	+72.3%	+79.6%	+87.7%	+70.2%	+134.2%	+173.4%	+683.4%	—
Other Income Expense Other Income/expense	+37.6%	+47.6%	+47.3%	+31.0%	+13.4%	-3.5%	+50.9%	+55.3%	+18.6%	—
Other Income Expense Income Before Tax	+55.1%	+63.8%	+70.5%	+76.8%	+83.8%	+65.9%	+127.9%	+163.2%	+611.8%	—
Income Tax Income Tax Expense	+45.9%	+53.1%	+58.2%	+61.7%	+58.8%	—	+89.9%	—	+529.6%	—
net Income net Income	+59.5%	+69.1%	+76.6%	+84.3%	+95.4%	+98.5%	+148.1%	+177.4%	+668.4%	—
net Income Comprehensive Income	+59.5%	+69.0%	+76.5%	+84.1%	+95.1%	+98.4%	+147.9%	+174.7%	+684.2%	—
Earnings Per Share Basic Eps	+4.4%	+4.6%	+1.9%	-3.0%	+97.1%	+101.0%	+152.9%	+185.3%	+693.6%	—
Earnings Per Share Diluted Eps	+4.5%	+4.7%	+2.1%	-3.0%	+97.1%	+100.8%	+152.4%	+186.3%	+701.3%	—
Earnings Per Share Weighted Average Shares Basic	+52.9%	+61.7%	+73.4%	+90.4%	-0.8%	-1.2%	-1.8%	-2.5%	-2.6%	—
Earnings Per Share Weighted Average Shares Diluted	+52.7%	+61.5%	+73.1%	+90.1%	-0.9%	-1.2%	-1.7%	-3.1%	-4.1%	—

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 10 years

Operating cash flow $2.1B

Investing cash flow $-35.1M

Financing cash flow $-2.5B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	+59.5%	+69.1%	+76.6%	+84.3%	+95.4%	+98.5%	+148.1%	+177.4%	+668.4%	—
Operating Activities Depreciation and Amortization	+10.6%	+10.9%	+11.8%	+11.9%	+11.7%	+13.0%	+13.3%	+17.5%	+11.6%	—
Operating Activities Stock Based Compensation	+7.2%	+9.4%	+9.9%	+7.3%	+22.4%	+6.5%	+12.5%	+3.8%	+1.7%	—
Operating Activities Deferred Income Taxes	—	—	—	—	—	—	—	—	—	—
Operating Activities Changes In Operating Assets and Liabilities	—	—	—	—	—	-5.1%	+17.9%	+7.3%	-5.5%	—
Operating Activities Other Non Cash Items	—	+12.3%	+32.9%	+20.1%	—	+8.5%	+13.1%	-17.8%	+390.8%	—
Operating Activities net Cash From Operating Activities	+21.9%	+24.9%	+25.9%	+24.5%	+29.3%	+16.9%	+26.7%	+32.3%	+31.8%	—
Investing Activities Capital Expenditures	+11.1%	+10.9%	+11.7%	+10.8%	+11.3%	+9.6%	+8.9%	+5.4%	-16.3%	—
Investing Activities Purchases of Investments	—	—	—	—	—	—	—	—	—	—
Investing Activities Proceeds From Sale of Investments	+34.8%	+41.5%	+48.9%	+34.3%	+50.4%	+74.7%	+119.6%	+192.5%	+633.3%	—
Investing Activities net Cash From Investing Activities	—	—	—	—	—	—	—	—	—	—
Financing Activities Repurchase of Common Stock	+12.6%	+2.3%	-4.8%	-0.1%	-11.0%	-49.5%	-38.9%	-56.1%	-65.9%	—
Financing Activities Tax Withholding On Stock Based Compensation	—	—	—	—	—	—	—	—	—	—
Financing Activities Other Financing Activities	+12.9%	+5.4%	-6.7%	—	—	—	—	—	-98.1%	—
Financing Activities net Cash From Financing Activities	—	—	—	—	—	—	—	—	—	—
Cash Reconciliation Effect of Exchange Rate On Cash	—	—	+19.4%	—	—	+76.8%	+54.5%	—	+1769.1%	—
Cash Reconciliation net Change In Cash	—	—	—	—	—	—	—	—	—	—
Cash Reconciliation Cash At Beginning of Period	+14.2%	+26.8%	+26.0%	+23.3%	+48.7%	+52.9%	+63.5%	+55.2%	+84.0%	—
Cash Reconciliation Cash At End of Period	+14.2%	+26.8%	+26.0%	+23.3%	+48.7%	+52.9%	+63.5%	+55.2%	+84.0%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+16.2%	+16.9%	+15.8%	+13.4%	+10.7%	+4.8%	+7.9%	+5.3%	+6.0%	+0.9%
Operating margin	+16.2%	+16.9%	+15.8%	+13.4%	+10.7%	+4.8%	+7.9%	+5.3%	+6.0%	+0.9%
Net margin	+12.9%	+13.6%	+12.4%	+10.4%	+8.7%	+5.9%	+6.3%	+3.6%	+3.9%	+0.6%
FCF margin	+12.1%	+13.4%	+12.4%	+9.8%	+11.1%	+4.9%	+6.9%	+6.9%	+5.6%	+2.5%
Growth
Revenue CAGR (3y)	+11.4%	+14.4%	+18.2%	+15.6%	+15.8%	+10.2%	+12.7%	—	—	—
Returns
ROE	+54.3%	+42.0%	+40.1%	+38.0%	+28.4%	+17.6%	+20.8%	+12.2%	+12.9%	+1.6%
ROA	+17.1%	+16.7%	+15.3%	+13.0%	+9.8%	+5.9%	+6.9%	+7.8%	+8.6%	+1.1%
ROIC	—	—	—	—	—	—	—	—	—	—
Liquidity
Current ratio	1.23x	1.52x	1.57x	1.28x	1.58x	1.73x	1.61x	1.81x	1.94x	1.85x
Quick ratio	0.46x	0.79x	0.68x	0.56x	1.08x	0.90x	0.88x	0.76x	0.79x	0.56x
Leverage
D/E	2.18x	1.52x	1.63x	1.93x	1.90x	1.96x	2.03x	0.57x	0.50x	0.44x
Interest coverage	—	—	—	—	—	—	—	—	—	—
Efficiency
Asset turnover	1.33x	1.23x	1.23x	1.25x	1.13x	1.00x	1.09x	2.15x	2.19x	1.93x
Cash conversion cycle	-1d	-2d	-3d	-3d	-2d	+0d	-1d	-3d	-2d	-2d

Valuation

Price against fundamentals

CMG $40 · 2025-09-17 · 363d old · FY2025

Market cap $53.3B

P/E 34.68x

P/S 4.47x

P/B 18.82x

EV —

EV/EBITDA —

FCF yield +2.7%

Dividend yield —

Notes

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