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

Year-over-year change per cell; first column has no prior.

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	-53.2%	+33.5%	+46.0%	-52.9%	+34.1%	+26.5%	+92.3%	+35.4%	+110.0%	—
Short Term Investments	+3.6%	-8.2%	+42.6%	+97.4%	-24.1%	-14.1%	-6.3%	+31.6%	-1.7%	—
Accounts Receivable	+8.7%	+24.6%	+8.1%	+7.3%	-4.7%	+29.7%	+29.3%	+54.0%	+0.0%	—
Inventory	+1.2%	+24.5%	+10.2%	+8.7%	+24.1%	+1.3%	+21.1%	+8.5%	+32.2%	—
Prepaid Expenses	+23.5%	-17.0%	+35.9%	+9.7%	+43.4%	-3.8%	+5.4%	+6.3%	+15.5%	—
Other Current Assets	+35.9%	+26.9%	+10.9%	-49.2%	-66.7%	+920.7%	—	-100.0%	+83.1%	—
Total Current Assets	-17.6%	+9.9%	+37.8%	-14.9%	-2.7%	+32.5%	+31.6%	+29.4%	+20.5%	—
Property,Plant and Equipment	+12.1%	+10.1%	+11.2%	+10.3%	+11.7%	+8.6%	+5.8%	+3.1%	+2.7%	—
Operating Lease Assets	+11.6%	+11.8%	+8.4%	+5.9%	+12.7%	+10.4%	—	—	—	—
Goodwill	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	—
Long Term Investments	-77.3%	+53.8%	+45.5%	+41.5%	+168.1%	—	—	—	—	—
Other Noncurrent Assets	+15.7%	+62.0%	+0.6%	+0.6%	+0.8%	+87.7%	-6.5%	-11.3%	+5.0%	—
Total Assets	-2.3%	+14.4%	+16.1%	+4.1%	+11.2%	+17.2%	+125.3%	+10.7%	+1.0%	—
Liabilities
Accounts Payable	+1.0%	+6.6%	+7.1%	+13.1%	+33.7%	+5.3%	+2.4%	+37.8%	+4.7%	—
Accrued Liabilities	-2.1%	+17.7%	+18.0%	-5.2%	-8.8%	+30.2%	+6.0%	+49.5%	-12.4%	—
Deferred Revenue	+0.8%	+13.8%	+14.5%	+17.1%	+22.4%	+34.2%	+35.1%	+10.7%	—	—
Operating Lease Liabilities	+8.8%	+12.0%	+5.0%	+8.0%	+6.8%	+18.3%	—	—	—	—
Total Current Liabilities	+1.7%	+13.4%	+11.8%	+5.5%	+6.3%	+23.3%	+48.1%	+38.9%	+14.9%	—
Operating Lease Liabilities Noncurrent	+12.0%	+12.1%	+8.8%	+5.9%	+11.8%	+10.2%	—	—	—	—
Deferred Tax Liabilities	+172.0%	-48.1%	-9.6%	-30.4%	-5.1%	+295.1%	+226.9%	+1320.9%	-95.7%	—
Other Noncurrent Liabilities	+7.9%	+20.7%	+34.4%	+13.7%	-0.8%	+0.1%	-89.3%	+1.7%	+10.4%	—
Total Liabilities	+11.1%	+11.4%	+9.3%	+4.7%	+9.9%	+15.8%	+315.1%	+21.0%	+9.2%	—
Equity
Common Stock	-4.0%	-27.5%	+4924.4%	+0.5%	+1.1%	+1.1%	+0.8%	+0.3%	+0.3%	—
Additional Paid In Capital	+6.1%	+7.2%	+5.9%	+5.8%	+11.6%	+5.7%	+6.7%	+5.3%	+5.3%	—
Retained Earnings	-60.6%	-74.0%	+25.4%	+22.9%	+19.9%	+12.1%	+13.5%	+7.4%	+7.9%	—
Accumulated Other Comprehensive Income	+29.1%	-54.5%	+15.6%	-47.3%	-26.6%	+21.1%	+14.0%	-70.4%	+55.2%	—
Total Stockholders Equity	-22.6%	+19.4%	+29.3%	+3.1%	+13.7%	+20.0%	+16.8%	+5.6%	-2.7%	—
Total Liabilitiesand Equity	-2.3%	+14.4%	+16.1%	+4.1%	+11.2%	+17.2%	+125.3%	+10.7%	+1.0%	—

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	+0.5%	+24.4%	+37.2%	+37.5%	+82.6%	+1.7%	+101.8%	-3.8%	+684.2%	—
Earnings Per Share Basic Eps	+2.7%	+25.8%	+36.9%	-97.2%	+82.2%	+1.0%	+98.7%	+2.6%	+693.6%	—
Earnings Per Share Diluted Eps	+2.7%	+24.7%	+39.1%	-97.2%	+82.9%	+1.1%	+96.2%	+2.3%	+701.3%	—
Earnings Per Share Weighted Average Shares Diluted	-2.5%	-0.6%	-1.3%	+4821.2%	+0.3%	+0.4%	+1.2%	-2.1%	-4.1%	—

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	+0.1%	+24.9%	+36.7%	+37.7%	+83.5%	+1.6%	+98.3%	+0.2%	+668.4%	—
Operating Activities Depreciation and Amortization	+7.9%	+4.9%	+11.4%	+12.6%	+6.8%	+12.1%	+5.3%	+23.6%	+11.6%	—
Operating Activities Stock Based Compensation	-9.3%	+6.2%	+26.5%	-44.4%	+113.5%	-9.6%	+32.1%	+6.0%	+1.7%	—
Operating Activities Deferred Income Taxes	+285.1%	-351.7%	+78.0%	-249.6%	-111.4%	+261.6%	+183.1%	+158.7%	-26.9%	—
Operating Activities Changes In Operating Assets and Liabilities	-94.8%	+32.0%	+21.2%	-60.2%	+256.0%	-322.0%	-49.9%	+62.7%	-7.3%	—
Operating Activities Other Non Cash Items	-47.2%	-16.4%	+575.7%	-70.9%	-75.1%	+202.0%	-78.6%	+85.7%	-26.2%	—
Operating Activities net Cash From Operating Activities	+0.4%	+18.0%	+34.8%	+3.2%	+93.1%	-8.0%	+16.1%	+32.7%	+31.8%	—
Investing Activities Capital Expenditures	-12.3%	-5.9%	-17.0%	-8.3%	-18.5%	-11.8%	-16.2%	-32.6%	+16.3%	—
Investing Activities Purchases of Investments	+97.1%	+11.5%	-81.5%	-43.1%	+8.3%	-4.4%	+7.5%	-142.8%	—	—
Investing Activities Proceeds From Sale of Investments	-8.7%	-1.0%	+176.9%	-23.8%	-17.5%	-12.1%	+23.8%	+16.7%	-43.7%	—
Investing Activities Other Investing Activities	-100.0%	—	—	-100.0%	+140.2%	-171.8%	—	—	—	—
Investing Activities net Cash From Investing Activities	+95.8%	+11.5%	-14.0%	-59.0%	-20.6%	-48.2%	+24.7%	-347.7%	-126.5%	—
Financing Activities Repurchase of Common Stock	-142.2%	-69.1%	+28.6%	-78.0%	-757.5%	+71.5%	-18.4%	+43.6%	+65.9%	—
Financing Activities Tax Withholding On Stock Based Compensation	+33.4%	-7.4%	+30.1%	-23.9%	-64.5%	-366.0%	-92.6%	-670.8%	+21.6%	—
Financing Activities Other Financing Activities	+95.1%	+147.8%	+386.7%	+87.1%	-20.0%	-171.5%	-273.3%	-819.2%	-98.1%	—
Financing Activities net Cash From Financing Activities	-130.1%	-62.5%	+28.9%	-69.4%	-423.2%	+48.0%	-21.1%	+41.7%	+65.8%	—
Cash Reconciliation Effect of Exchange Rate On Cash	+74.6%	-529.1%	+137.8%	+3.1%	-196.6%	+165.0%	+127.9%	-170.9%	+1769.1%	—
Cash Reconciliation net Change In Cash	-304.2%	+8.5%	+140.5%	-307.8%	+65.2%	-44.2%	+246.0%	-32.5%	+163.4%	—

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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