Chipotle Mexican Grill

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

                    Revenue
                    FY2019
                
$5.6B
                    
                    +14.8%
                    
                    Net income
                    FY2019
                
$350.2M
                    
                    +98.3%
                    
                    Total assets
                    FY2025
                
$9.0B
                    
                    -2.3%
                    
                    Operating cash flow
                    FY2025
                
$2.1B
                    
                    +0.4%

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

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

28 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	—	—	—	—	—	—	8.6%	5.1%	4.1%	2.3%
Short Term Investments	—	—	—	—	—	—	7.2%	8.8%	7.2%	8.4%
Accounts Receivable	—	—	—	—	—	—	1.4%	1.3%	0.9%	1.0%
Inventory	—	—	—	—	—	—	0.5%	0.4%	0.4%	0.4%
Prepaid Expenses	—	—	—	—	—	—	1.0%	1.1%	1.1%	1.1%
Other Current Assets	—	—	—	—	—	—	0.5%	0.0%	0.2%	0.1%
Total Current Assets	—	—	—	—	—	—	19.2%	16.7%	14.1%	13.4%
Property,Plant and Equipment	—	—	—	—	—	—	26.1%	28.4%	29.9%	33.4%
Operating Lease Assets	—	—	—	—	—	—	44.8%	0.0%	—	—
Goodwill	—	—	—	—	—	—	0.4%	0.5%	0.5%	0.6%
Long Term Investments	—	—	—	—	—	—	0.0%	—	—	3.2%
Other Noncurrent Assets	—	—	—	—	—	—	0.8%	1.0%	1.2%	1.4%
Total Assets	—	—	—	—	—	—	91.4%	46.6%	45.7%	51.9%
Liabilities
Accounts Payable	—	—	—	—	—	—	2.1%	2.3%	1.8%	2.0%
Accrued Liabilities	—	—	—	—	—	—	5.1%	5.5%	4.0%	5.2%
Deferred Revenue	—	—	—	—	—	—	1.7%	1.4%	1.4%	—
Operating Lease Liabilities	—	—	—	—	—	—	3.1%	0.0%	—	—
Total Current Liabilities	—	—	—	—	—	—	11.9%	9.2%	7.2%	7.2%
Operating Lease Liabilities Noncurrent	—	—	—	—	—	—	47.9%	0.0%	—	—
Deferred Tax Liabilities	—	—	—	—	—	—	0.7%	0.2%	0.0%	0.5%
Other Noncurrent Liabilities	—	—	—	—	—	—	0.7%	7.5%	8.0%	8.3%
Total Liabilities	—	—	—	—	—	—	61.2%	16.9%	15.2%	16.0%
Equity
Common Stock	—	—	—	—	—	—	0.0%	0.0%	0.0%	0.0%
Additional Paid In Capital	—	—	—	—	—	—	26.2%	28.2%	29.2%	31.7%
Retained Earnings	—	—	—	—	—	—	52.3%	52.9%	53.5%	56.9%
Accumulated Other Comprehensive Income	—	—	—	—	—	—	-0.1%	-0.1%	-0.1%	-0.2%
Total Stockholders Equity	—	—	—	—	—	—	30.1%	29.6%	30.5%	35.9%
Total Liabilitiesand Equity	—	—	—	—	—	—	91.4%	46.6%	45.7%	51.9%

Income Statement

Revenue, expense, and profitability

4 accounts · 10 years

Revenue $5.6B

Operating income $444.0M

Net income $350.2M

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
net Income Comprehensive Income	—	—	—	—	—	—	6.3%	3.6%	4.0%	0.6%
Earnings Per Share Basic Eps	—	—	—	—	—	—	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	—	—	—	—	—	—	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Diluted	—	—	—	—	—	—	0.5%	0.6%	0.6%	0.8%

Cash Flow Statement

Operating, investing, and financing flows

18 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	—	—	—	—	—	—	6.3%	3.6%	3.9%	0.6%
Operating Activities Depreciation and Amortization	—	—	—	—	—	—	3.8%	4.2%	3.6%	3.7%
Operating Activities Stock Based Compensation	—	—	—	—	—	—	1.6%	1.4%	1.5%	1.6%
Operating Activities Deferred Income Taxes	—	—	—	—	—	—	0.5%	0.2%	-0.4%	-0.4%
Operating Activities Changes In Operating Assets and Liabilities	—	—	—	—	—	—	1.0%	2.3%	1.6%	1.9%
Operating Activities Other Non Cash Items	—	—	—	—	—	—	0.3%	1.7%	1.0%	1.5%
Operating Activities net Cash From Operating Activities	—	—	—	—	—	—	12.9%	12.8%	10.5%	9.1%
Investing Activities Capital Expenditures	—	—	—	—	—	—	-6.0%	-5.9%	-4.8%	-6.6%
Investing Activities Purchases of Investments	—	—	—	—	—	—	-8.0%	-10.0%	-4.5%	0.0%
Investing Activities Proceeds From Sale of Investments	—	—	—	—	—	—	8.5%	7.9%	7.4%	15.0%
Investing Activities Other Investing Activities	—	—	—	—	—	—	0.3%	0.0%	0.0%	—
Investing Activities net Cash From Investing Activities	—	—	—	—	—	—	-5.2%	-8.0%	-1.9%	8.4%
Financing Activities Repurchase of Common Stock	—	—	—	—	—	—	-3.4%	-3.3%	-6.4%	-21.4%
Financing Activities Tax Withholding On Stock Based Compensation	—	—	—	—	—	—	-0.2%	-0.1%	-0.0%	-0.0%
Financing Activities Other Financing Activities	—	—	—	—	—	—	-0.0%	-0.0%	0.0%	0.0%
Financing Activities net Cash From Financing Activities	—	—	—	—	—	—	-3.6%	-3.4%	-6.4%	-21.4%
Cash Reconciliation Effect of Exchange Rate On Cash	—	—	—	—	—	—	0.0%	-0.0%	0.0%	0.0%
Cash Reconciliation net Change In Cash	—	—	—	—	—	—	4.1%	1.4%	2.2%	-3.9%

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	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	+7.9%	+5.3%	+6.0%	+0.9%
Net margin	—	—	—	—	—	—	+6.3%	+3.6%	+3.9%	+0.6%
FCF margin	—	—	—	—	—	—	+6.9%	+6.9%	+5.6%	+2.5%
Growth
Revenue CAGR (3y)	—	—	—	—	—	—	+12.7%	—	—	—
Returns
ROE	—	—	—	—	—	—	+20.8%	+12.2%	+12.9%	+1.6%
ROA	—	—	—	—	—	—	+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	0.43x	0.76x	0.66x	0.53x	1.05x	0.87x	0.84x	0.69x	0.69x	0.46x
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	—	—	—	—	—	—	1.09x	2.15x	2.19x	1.93x
Cash conversion cycle	—	—	—	—	—	—	—	—	—	—

Valuation

Price against fundamentals

CMG $40 · 2025-09-17 · 409d old · FY2025

Market cap $53.3B

P/E —

P/S —

P/B 18.82x

EV —

EV/EBITDA —

FCF yield +2.7%

Dividend yield —

Notes

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