FirmAtlas
Company handbook · CMG · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
CMG · CIK 1058090 · LATEST FILING: 10-Q JUN '26 · FILED JUL 31, 2026
CHIPOTLE MEXICAN GRILL, INC.
$29.89
−0.69 (−2.26%)
Close, Oct 16, 2026 · 52-week $28–43
Last fiscal year
CHIPOTLE MEXICAN GRILL, INC. reported revenue of $11.9B for the year ended Dec 31, 2025 (FY25), up 5.4% from FY24. Net income was $1.5B, operating cash flow $2.1B and free cash flow $1.4B. Source: 10-K filed Feb 4, 2026.
Market cap
$40.1B
P/E
28.3
EV/EBITDA
17.0x
P/B
18.2
ROIC
74.9%
Revenue 1Y
5.4%/yr
EPS 1Y
2.7%/yr
Shares 1Y
−2%
Loading chart…
Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOScott Boatwright
HQNewport Beach, CA
AuditorErnst & Young LLP
Employees130,301
Year endsDecember
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
14.0%
−4.0%
−6.2%
−28.4%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$4.7B deployed
Capex
$1.3B
26.9%
Buybacks
$3.4B
73.1%
Operating cash flow over the period: $4.2B. Total debt changed by $0M.
More cash than debt at the end of FY25.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
11,314
11,926+5.4%
12,424
YoY
+5.4%
Operating income
1,916
1,936+1.0%
1,820
Operating margin
16.9%
16.2%−0.7 pp
—
EBITDA
2,251
2,297+2.0%
—
EBITDA margin
19.9%
19.3%−0.6 pp
—
Net income
1,534
1,536+0.1%
1,419
YoY
+0.1%
Net margin
13.6%
12.9%−0.7 pp
—
EPS (diluted, $)
1.11
1.14+2.7%
1.09
YoY
+2.7%
Balance sheet
Total assets
9,204
8,995−2.3%
8,865
Cash & short-term investments
1,453
1,084−25.3%
—
Accounts receivable
144
156+8.7%
—
Inventory
49
50+1.2%
—
Net PP&E
2,390
2,679+12.1%
—
Other assets
5,169
5,025−2.8%
—
Total liabilities
5,549
6,164+11.1%
6,665
Accounts payable
211
213+1.0%
—
Total debt
0
0n/m
—
Other liabilities
5,338
5,951+11.5%
—
Shareholders’ equity
3,656
2,831−22.6%
2,200
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
2,105
2,114+0.4%
2,328
Net income
1,534
1,536+0.1%
—
Depreciation & amortization
335
361+7.9%
—
Stock-based compensation
132
120−9.3%
—
Working capital & other
104
97−6.7%
—
Cash from investing
(838)
(35)n/m
—
Capex
(594)
(666)n/m
—
Investments bought
(987)
(28)n/m
—
Investments sold / matured
723
659−8.7%
—
Other investing
20
0.0−100.0%
—
Cash from financing
(1,074)
(2,471)n/m
—
Buybacks
(1,002)
(2,426)n/m
—
Other financing
(72)
(45)n/m
—
Net change in cash
192
(392)−304.2%
—
Free cash flow (OCF − capex)
1,511
1,448−4.2%
1,569
Where the cash went
Operating cash flow
2,105
2,114+0.4%
2,328
Reinvested in the business
594
666+12.3%
—
% of operating cash flow
28.2%
31.5%
Capex
594
666+12.3%
759
Free cash flow
1,511
1,448−4.2%
1,569
YoY
−4.2%
Returned to shareholders
1,002
2,426+142.2%
—
% of free cash flow
66.3%
167.6%
Buybacks
1,002
2,426+142.2%
—
Change in total debt
—
0
—
Cash left over
—
(978)
—
FCF conversion (FCF ÷ net income)
98.5%
94.3%−4.3 pp
—
Owner earnings
—
1,220
—
Owner earnings margin
—
10.2%
—
Returns & ratios
ROIC (all capital)
66.4%
74.9%+8.5 pp
—
ROIC (operating)
61.6%
58.7%−3.0 pp
—
Net debt / EBITDA
−0.65x
−0.47x+0.17x
—
Debt / equity
0.00x
0.00x+0.00x
—
Cash conversion cycle (days)
−1
−0+0 d
—
ROE
42.0%
54.3%+12.3 pp
—
ROA
16.7%
17.1%+0.4 pp
—
ROCE
23.8%
24.8%+0.9 pp
—
NOPAT
1,462
1,479+1.2%
—
Invested capital (operating)
2,372
2,673+12.7%
—
Invested capital (all)
2,203
1,746−20.7%
—
Reinvestment rate
—
20.3%
—
Debtor days
5
5+0 d
—
Inventory days
2
2−0 d
—
Days payable
7
7−0 d
—
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
3,003
2,984
3,088
3,349
vs year-ago quarter
Operating income
477
420
397
526
Net income
382
331
303
404
vs year-ago quarter
Net margin
12.7%
11.1%
9.8%
12.1%
EPS (diluted, $)
0.29
0.25
0.23
0.32
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
9,282
8,995
8,803
8,865
Cash & equivalents
730
1,084
282
264
Total debt
—
0
—
—
Shareholders’ equity
3,222
2,831
2,408
2,200
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
570
426
651
681
Capex
163
197
180
217
Free cash flow
406
228
471
463
vs year-ago quarter