Overview
CHIPOTLE MEXICAN GRILL INC
Latest 10-K: FY2025, filed Feb 4, 2026 · Open the 10-K (Inline XBRL) ↗
- Revenue
- $11.93B
- 5.4%YoYup from FY2024
- TotalRevenue
- Gross profit
- Not reported
- Operating income
- $1.94B
- 1.0%YoYup from FY2024
- OperatingIncome
- Net income
- $1.54B
- 0.1%YoYup from FY2024
- NetIncome
- Diluted EPS
- $1.14
- 2.7%YoYup from FY2024
- EPSDiluted
- Diluted shares
- 1.34B
- 2.5%YoYdown from FY2024
- WeightedAvgSharesDiluted
At a glance
Growth
- CHIPOTLE MEXICAN GRILL INC reported revenue of $11.93B for fiscal 2025, up 5.4% from fiscal 2024.
- Revenue grew faster than the median S&P 500 member in 4 of the last 5 fiscal years.
Profitability
- Operating margin was 16.2% and net margin was 12.9%, against a median net margin of 12.8% across S&P 500 members for the same fiscal year.
Per share
- Diluted EPS was $1.14, up 2.7% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 30, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $11.93B5.4%up Benchmark median 6.4% | $11.31B14.6%up Benchmark median 4.5% | $9.87B14.3%up Benchmark median 4.8% | $8.63B14.4%up Benchmark median 10.3% | $7.55B26.1%up Benchmark median 13.8% | 12.1% Benchmark median 6.6% |
| Gross Profit Median of 315 / 498 | — | — | — | — | — | — Benchmark median 6.2% |
| Operating Income Median of 373 / 498 | $1.94B1.0%up Benchmark median 7.3% | $1.92B23.0%up Benchmark median 7.4% | $1.56B34.2%up Benchmark median 4.9% | $1.16B44.2%up Benchmark median 7.5% | $0.80B177.4%up Benchmark median 23.5% | 24.5% Benchmark median 7.2% |
| Net Income | $1.54B0.1%up Benchmark median 4.8% | $1.53B24.9%up Benchmark median 5.7% | $1.23B36.7%up Benchmark median 1.9% | $0.90B37.7%up Benchmark median 1.3% | $0.65B83.5%up Benchmark median 33.9% | 23.8% Benchmark median 4.1% |
| EPS (Diluted) | $1.142.7%up Benchmark median 6.2% | $1.1124.7%up Benchmark median 7.9% | $0.8939.1%up Benchmark median 1.9% | $0.64‡n/m Benchmark median 1.5% | $22.9082.9%up Benchmark median 34.8% | n/m Benchmark median 5.6% |
‡ Share basis changed between these years (stock split or reverse split).
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $8.99B2.3%down Benchmark median 5.6% | $9.20B14.4%up Benchmark median 3.4% | $8.04B16.1%up Benchmark median 4.1% | $6.93B4.1%up Benchmark median 2.2% | $6.65B11.2%up Benchmark median 6.7% | 7.8% Benchmark median 4.7% |
| Total Liabilities Median of 357 / 498 | $6.16B11.1%up Benchmark median 6.4% | $5.55B11.4%up Benchmark median 1.9% | $4.98B9.3%up Benchmark median 2.9% | $4.56B4.7%up Benchmark median 2.0% | $4.36B9.9%up Benchmark median 5.2% | 9.1% Benchmark median 4.4% |
| Stockholders' Equity | $2.83B22.6%down Benchmark median 6.8% | $3.66B19.4%up Benchmark median 5.4% | $3.06B29.3%up Benchmark median 7.3% | $2.37B3.1%up Benchmark median 2.5% | $2.30B13.7%up Benchmark median 9.0% | 5.4% Benchmark median 6.1% |
| Cash & Equivalents | $350.55M53.2%down Benchmark median 5.2% | $748.54M33.5%up Benchmark median 1.9% | $560.61M46.0%up Benchmark median 6.7% | $384.00M52.9%down Benchmark median -8.6% | $815.37M34.1%up Benchmark median -2.9% | -19.0% Benchmark median 2.0% |
| Total Debt | $0.00M†n/m Benchmark median 2.1% | $0.00M†n/m Benchmark median 0.2% | $0.00M†n/m Benchmark median 0.3% | $0.00M†n/m Benchmark median 0.1% | $0.00M†n/m Benchmark median -0.1% | n/m Benchmark median 4.3% |
† Sum of short-term and long-term debt; the company files no total-debt line.
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.11B0.4%up Benchmark median 6.3% | $2.11B18.0%up Benchmark median 4.8% | $1.78B34.8%up Benchmark median 9.9% | $1.32B3.2%up Benchmark median -0.7% | $1.28B93.1%up Benchmark median 10.7% | 13.3% Benchmark median 7.0% |
| Capital Expenditures | $666.34M12.3%up Benchmark median 5.4% | $593.60M5.9%up Benchmark median 2.8% | $560.73M17.0%up Benchmark median 11.3% | $479.16M8.3%up Benchmark median 14.0% | $442.48M18.5%up Benchmark median 8.1% | 10.8% Benchmark median 9.0% |
| Free Cash Flow Median of 378 / 498 | $1.45B4.2%down Benchmark median 7.3% | $1.51B23.6%up Benchmark median 6.1% | $1.22B44.9%up Benchmark median 8.8% | $0.84B0.5%up Benchmark median -11.3% | $0.84B189.0%up Benchmark median 10.2% | 14.6% Benchmark median 4.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2025Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
3.1%
Wall Street
on net earnings
FY2024 1.8%
2.9%
Value investor
on free cash flow
FY2024 1.8%
Gap −0.2 pts: Value-investor figure 0.2 points lower
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E 32.5×Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Enterprise yield
What a dollar of enterprise value earned
4.7%
Wall Street
on EBITDA
FY2024 2.8%
4.0%
Value investor
on EBIT
FY2024 2.3%
Gap −0.7 pts: Value-investor figure 0.7 points lower
How it’s calculated
Wall Street · on EBITDA
EBITDA ÷ enterprise value (1 ÷ EV/EBITDA)
ev_ebitda (ratio table)
EV/EBITDA 21.2×Value investor · on EBIT
Operating income (EBIT) ÷ enterprise value: depreciation counts as a real cost
operating income ÷ (ev_ebitda × ebitda)
Valuation · Book yield
Net assets behind a dollar of market value
5.7%
Wall Street
on book equity
FY2024 4.4%
5.7%
Value investor
on tangible book
FY2024 4.4%
Gap Same: Both views read the same
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 17.5×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
47.4%
Wall Street
ROE: net income ÷ equity
FY2024 45.7%
21.8%
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2024 22.0%
Gap −25.6 pts: Value-investor figure 25.6 points lower
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
19.3%
Wall Street
EBITDA margin
FY2024 19.9%
12.1%
Value investor
Free-cash-flow margin
FY2024 13.4%
Gap −7.2 pts: Value-investor figure 7.2 points lower
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Balance sheet · Liquidity
Short-term assets per dollar of bills due within a year
1.23×
Wall Street
Current ratio
FY2024 1.52×
1.19×
Value investor
Quick ratio, inventory excluded
FY2024 1.48×
Gap −0.04×: Value-investor figure 0.04 lower
How it’s calculated
Wall Street · Current ratio
Current assets ÷ current liabilities
current_ratio (ratio table)
Value investor · Quick ratio, inventory excluded
(Current assets − inventory) ÷ current liabilities
quick_ratio (ratio table)
Balance sheet · Debt cover
How many times one year of earnings repays all debt
No debt
Wall Street
EBITDA ÷ total debt
FY2024 No debt
No debt
Value investor
FCF ÷ total debt
FY2024 No debt
How it’s calculated
Wall Street · EBITDA ÷ total debt
EBITDA ÷ total debt (short-term + long-term)
ebitda ÷ total debt
Net cashValue investor · FCF ÷ total debt
Free cash flow ÷ total debt: what is actually left to repay it
free cash flow ÷ total debt
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on CMG yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on CMG and publish the result to your public profile.
Cite this page
Data as of Oct 30, 2026. Canonical address: https://valuein.biz/data/CMG
Valuein. (2026, October 30). CHIPOTLE MEXICAN GRILL INC (CMG) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/CMG
@misc{valuein_cmg_2026,
author = {{Valuein}},
title = {CHIPOTLE MEXICAN GRILL INC (CMG) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/CMG}},
note = {Data as of 2026-10-30; source: SEC EDGAR filings}
}10-K filed Feb 4, 2026 · accession 0001058090-26-000009
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point-in-time · survivorship-free · every number traceable to its SEC filing
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