Chipotle Mexican Grill Inc (CMG) stock
CMGNYSERetail-Eating PlacesFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 29, 2026Score 16/3015% below fair value
$35.28+0.11 (+0.31%)
Close on Nov 13, 2026Market cap $44.63BP/E 33.0Yield –
Chipotle Mexican Grill operating margin
Operating margin is operating income as a percentage of revenue.
Chipotle Mexican Grill's operating margin for the twelve months ending Sep 30, 2026 was 14.1%. For fiscal 2025 it was 16.2%, against 16.9% the year before. The highest annual figure on record is 16.9% in fiscal 2024.
Annual operating margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 16.2% | −0.7 |
| FY2024 | Dec 31, 2024 | 16.9% | +1.2 |
| FY2023 | Dec 31, 2023 | 15.8% | +2.3 |
| FY2022 | Dec 31, 2022 | 13.4% | +2.8 |
| FY2021 | Dec 31, 2021 | 10.7% | +5.8 |
| FY2020 | Dec 31, 2020 | 4.8% | −3.1 |
| FY2019 | Dec 31, 2019 | 7.9% | +2.6 |
| FY2018 | Dec 31, 2018 | 5.3% | −0.7 |
| FY2017 | Dec 31, 2017 | 6.0% | +5.2 |
| FY2016 | Dec 31, 2016 | 0.9% | – |
Quarterly operating margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | 13.7% | −2.2 |
| Q2 FY2026 | Jun 30, 2026 | 15.7% | −2.6 |
| Q1 FY2026 | Mar 31, 2026 | 12.9% | −3.8 |
| Q4 FY2025 | Dec 31, 2025 | 14.1% | −0.5 |
| Q3 FY2025 | Sep 30, 2025 | 15.9% | −1.1 |
| Q2 FY2025 | Jun 30, 2025 | 18.2% | −1.5 |
| Q1 FY2025 | Mar 31, 2025 | 16.7% | +0.3 |
| Q4 FY2024 | Dec 31, 2024 | 14.6% | +0.2 |
| Q3 FY2024 | Sep 30, 2024 | 16.9% | +1.0 |
| Q2 FY2024 | Jun 30, 2024 | 19.7% | +2.5 |
| Q1 FY2024 | Mar 31, 2024 | 16.3% | +0.8 |
| Q4 FY2023 | Dec 31, 2023 | 14.4% | +0.9 |
| Q3 FY2023 | Sep 30, 2023 | 16.0% | +0.8 |
| Q2 FY2023 | Jun 30, 2023 | 17.2% | +1.9 |
| Q1 FY2023 | Mar 31, 2023 | 15.5% | +6.1 |
| Q4 FY2022 | Dec 31, 2022 | 13.6% | +5.5 |
| Q3 FY2022 | Sep 30, 2022 | 15.1% | +2.9 |
| Q2 FY2022 | Jun 30, 2022 | 15.3% | +2.3 |
| Q1 FY2022 | Mar 31, 2022 | 9.4% | +0.1 |
| Q4 FY2021 | Dec 31, 2021 | 8.1% | +0.8 |
| Q3 FY2021 | Sep 30, 2021 | 12.3% | +5.6 |
| Q2 FY2021 | Jun 30, 2021 | 13.0% | +13.3 |
| Q1 FY2021 | Mar 31, 2021 | 9.3% | +4.2 |
| Q4 FY2020 | Dec 31, 2020 | 7.3% | +0.5 |
| Q3 FY2020 | Sep 30, 2020 | 6.7% | −1.5 |
| Q2 FY2020 | Jun 30, 2020 | -0.4% | −8.7 |
| Q1 FY2020 | Mar 31, 2020 | 5.0% | −3.4 |
| Q4 FY2019 | Dec 31, 2019 | 6.8% | +3.6 |
| Q3 FY2019 | Sep 30, 2019 | 8.2% | +3.5 |
| Q2 FY2019 | Jun 30, 2019 | 8.4% | +3.0 |
| Q1 FY2019 | Mar 31, 2019 | 8.4% | +0.3 |
| Q4 FY2018 | Dec 31, 2018 | 3.2% | −2.2 |
| Q3 FY2018 | Sep 30, 2018 | 4.7% | +2.0 |
| Q2 FY2018 | Jun 30, 2018 | 5.4% | −3.8 |
| Q1 FY2018 | Mar 31, 2018 | 8.1% | +1.2 |
| Q4 FY2017 | Dec 31, 2017 | 5.4% | – |
| Q3 FY2017 | Sep 30, 2017 | 2.7% | – |
| Q2 FY2017 | Jun 30, 2017 | 9.1% | – |
| Q1 FY2017 | Mar 31, 2017 | 6.8% | – |
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