CMGNYSERetail-Eating PlacesFiscal year ends December 31
CHIPOTLE MEXICAN GRILL INC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 31, 2026
$29.85−0.04 (-0.13%)
Close on Oct 19, 2026
- Market cap
- $38.18B
- P/E (TTM)
- 27.4
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Operating margin
16.2%+11.4 pts over 5 years
Net margin
12.9%+6.9 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +5.4% | +11.4% | +14.8% | – | |
| Operating income | +1.0% | +18.6% | +46.2% | +9.7% | |
| Net income | +0.1% | +19.5% | +34.0% | +12.4% | |
| EPS, diluted | +2.7% | +21.2% | +35.4% | +14.2% | |
| Free cash flow | -4.2% | +19.7% | +37.9% | +13.0% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 1.3% | 19.2% | 47.4% | |
| Return on assets | 1.0% | 6.4% | 16.9% | |
| Current ratio | 1.85 | 1.73 | 1.23 | |
| Capex to revenue | 6.6% | 6.2% | 5.6% | |
| Diluted shares | 1.49B | 1.42B | 1.34B |
Where the cash went
Fiscal 2021 to 2025, five years combined
Chipotle Mexican Grill generated $8.61B from operations and spent $8.06B on capital expenditure, dividends and share buybacks. 34% of that went back into the business.
Generated
$8.61B
Used
$8.06B
Capital expenditure$2.74B34%Dividends$00%Share buybacks$5.32B66%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin12.9%
×Asset turnover1.31×
×Equity multiplier2.81×
=Return on equity, FY202547.4%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 12.9% | 1.31× | 2.81× | 47.4% |
| FY2024 | 13.6% | 1.31× | 2.57× | 45.7% |
| FY2023 | 12.4% | 1.32× | 2.76× | 45.3% |
| FY2022 | 10.4% | 1.27× | 2.91× | 38.5% |
| FY2021 | 8.7% | 1.19× | 2.93× | 30.2% |
| FY2020 | 5.9% | 1.08× | 2.99× | 19.2% |
| FY2019 | 6.3% | 1.52× | 2.36× | 22.4% |
| FY2018 | 3.6% | 2.26× | 1.54× | 12.6% |
| FY2017 | 3.9% | 2.20× | 1.47× | 12.7% |
| FY2016 | 0.6% | 1.64× | 1.35× | 1.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 7 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$1.54B
- Cash generatingOperating cash flow above zero$2.11B
- Return on assets improvedROA up on the prior year19.1% → 16.7%
- Earnings backed by cashOperating cash flow above net income$2.11B vs $1.54B
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.52 → 1.23
- No dilutionShare count did not rise1.38B → 1.34B
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose1.41 → 1.30