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Stocks / United States / CMG · Retail-Eating Places · NYSE

Chipotle Mexican Grill Inc. (CMG)

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Chipotle Mexican Grill Inc. (CMG) reported revenue of $3.3 billion for Q2 FY2026, the quarter ended 30 June 2026, up 9.3% on the same quarter a year earlier. Net income was $404 million, down 7.5% on the year, and diluted earnings per share $0.32. The figures are the company's own, from the 10-Q it filed with the SEC on 31 July 2026.

Revenue$3.3 billionup 9.3%
Net income$404 milliondown 7.5%
Diluted EPS$0.32
QuarterQ2 FY2026ended 30 June 2026

Ratios

From the filings

ROE64.5%
ROCE82.7%
Operating margin14.7%
Net margin11.4%
FCF margin12.6%
Interest covern/a
Debt to equity0.00
Cash conversion1.64
Share count, 1 year-5.6%
Sales CAGR, 3 years11.4%
Profit CAGR, 3 years19.5%
EPS, TTM$1.09

At the close of 21 September 2026

Price$33.14
Market cap$41.9 billion
Stock P/E30.40
Price to book19.06
EV / EBITDA18.97
Dividend yieldn/a
Market cap / sales3.38
52-week high$42.36
52-week low$28.18
Price, 1 year-15.7%
Price CAGR, 3 years-4.0%
Price CAGR, 5 years-3.1%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on long-term debt as Chipotle Mexican Grill Inc. files it, at the balance sheet of 31 December 2025, the latest that carries it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on CMG

Filings19 in twelve months: 12 current reports (8-K), about 4 regulation fd disclosure; 4 results of operations; 3 officer or director change; 2 other events; 1 shareholder vote
Planned insider sales5 Form 144 notices in twelve months, $8.2 million; latest 21 August 2026
Options tapeput/call 1.0 by open interest on 23 September 2026; the straddle prices a 3.2% move to 25 September 2026
Holders10 of the followed funds hold it; largest Geode Capital Management; 9 Schedule 13D or 13G filings in twelve months
Insider trading5 sales and 0 purchases on Form 4 in twelve months
Congress1 House trade disclosed in six months
Short interest39.7 million shares short, 2.58 days to cover at 31 August 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue2,4722,5162,7022,9732,7942,8452,8753,0633,0032,9843,0883,349
Operating income395363441586473416479559477420397526
Operating margin16%14%16%20%17%15%17%18%16%14%13%16%
Pre-tax income413382461608503439502577497434406533
Tax rate24%26%22%25%23%24%23%24%23%24%25%24%
Net income313282359456387332387436382331303404
Net margin13%11%13%15%14%12%13%14%13%11%10%12%
Diluted EPS$11.32$10.20$13.01$0.33$0.28n/a$0.28$0.32$0.29$0.25$0.23$0.32
Operating cash flow480265569563446527557561570426651681
Capital expenditure131172133140148173145161163197180217
Free cash flow34993.5437422299354412401406228471463
Buybacks21615527.0145490339554443687742701654
Shares outstanding27m27m27m1,369m1,363m1,355m1,347m1,341m1,322m1,302m1,283m1,265m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless. EPS is as filed for each quarter. A split or a bonus issue changes the share count, so quarters before it are on the old count.

Profit and loss, 10 fiscal years and the trailing twelve months

FY2016FY2017 FY2018 FY2019FY2020 FY2021FY2022FY2023FY2024FY2025TTM
Revenue3,9044,4764,8655,5865,9857,5478,6359,87211,31411,92612,424
Operating income34.62712584442908051,1601,5581,9161,9361,820
Operating margin0.9%6.0%5.3%7.9%4.8%10.7%13.4%15.8%16.9%16.2%14.7%
Pre-tax income38.72762684582948131,1821,6212,0102,0101,870
Income tax15.899.5-91.9108-62.0160282392476474450
Effective tax rate40.8%36.1%-34.2%23.6%-21.1%19.7%23.9%24.2%23.7%23.6%24.1%
Net income22.91761773503566538991,2291,5341,5361,419
Net margin0.6%3.9%3.6%6.3%5.9%8.7%10.4%12.4%13.6%12.9%11.4%
Diluted EPS$0.77$6.17$6.31$12.38$12.52$22.90$32.04$44.34$1.11$1.14$1.09
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

FY2016FY2017 FY2018 FY2019FY2020 FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow3554686227226641,2821,3231,7832,1052,1142,328
Capital expenditure259217287334373442479561594666759
Free cash flow96.32513343882908408441,2231,5111,4481,569
Free cash flow margin2.5%5.6%6.9%6.9%4.9%11.1%9.8%12.4%13.4%12.1%12.6%
Depreciation and amortisation146163202213239255287319335361378
Share-based compensation64.265.369.291.482.617698.012413212098.9
Buybacks83828516119154.44668305921,0022,4262,783
Diluted shares, weighted30m29m28m28m28m29m28m28m1,377m1,343m1,279m
Shares outstanding at period endn/an/an/an/an/an/an/an/an/an/a1,265m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2016FY2017 FY2018 FY2019FY2020 FY2021FY2022FY2023FY2024FY2025TTM
Total assets2,0262,0462,2665,1055,9836,6536,9288,0449,2048,9958,865
Cash and equivalents87.9185250481608815384561749351228
Receivables40.540.562.380.510499.6107116144156100
Inventory15.019.921.626.126.432.835.739.348.949.546.6
Goodwill21.921.921.921.921.921.921.921.921.921.921.9
Long-term debtn/an/an/a0.00.00.00.00.00.00.0n/a
Operating lease liabilitiesn/an/a0.02,6782,9523,3023,4953,8044,2634,7735,102
Shareholders' equity1,4021,3641,4411,6832,0202,2972,3683,0623,6562,8312,200
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compoundedn/a14.8%11.4%7.3%
Profit growth, compoundedn/a34.0%19.5%-7.9%
Return on equity, average26.8%40.5%45.4%54.3%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Retail-Eating Places

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
McDonald's Corp. MCD$175.4 billion20.14n/a46.2%6.3%n/a2.9%
Chipotle Mexican Grill Inc. CMG$41.9 billion30.4064.5%14.7%7.3%0.00n/a
YUM Brands Inc. YUM$38.0 billion17.53n/a31.0%10.3%n/a2.0%
Darden Restaurants Inc. DRI$24.1 billion20.3654.7%12.0%9.4%0.742.8%

The names on this site in the same industry (the SEC's SIC description), by market capitalisation. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close.

Filings

FilingPeriodFiledWhere
10-Q30 June 202631 July 2026EDGAR
10-Q31 March 202630 April 2026EDGAR
10-K31 December 20254 February 2026EDGAR
10-Q30 September 202530 October 2025EDGAR
10-Q30 June 202524 July 2025EDGAR
10-Q31 March 202524 April 2025EDGAR
10-K31 December 20245 February 2025EDGAR
10-Q30 September 202430 October 2024EDGAR
10-Q30 June 202425 July 2024EDGAR
10-Q31 March 202425 April 2024EDGAR

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