Chipotle Mexican Grill (CMG) FY2024 results: revenue $11.3 billion, up 14.6% on the year
Chipotle Mexican Grill Inc. (CMG) reported revenue of $11.3 billion for fiscal 2024, the year ended 31 December 2024, up 14.6% on the year before. Net income was $1.5 billion, up 24.9%, and diluted earnings per share $1.11. The figures are the company's own, from the 10-K it filed with the SEC on 5 February 2025.
Revenue
$11.3 billion
+14.6% on the year
FY2017FY2024
Operating margin
16.9%
15.8% a year earlier
FY2017FY2024
Net income
$1.5 billion
+24.9% on the year
FY2017FY2024
Diluted EPS
$1.11
+25.2% on the year
FY2017FY2024
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree 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.
Cash flow
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
2,105
1,783
1,323
+18.0%
Capital expenditure
594
561
479
+5.9%
Free cash flow
1,511
1,223
844
+23.6%
Free cash flow margin
13.4%
12.4%
9.8%
Cash from investing
-838
-946
-830
Cash from financing
-1,074
-661
-929
Depreciation and amortisation
335
319
287
+4.9%
Share-based compensation
132
124
98.0
+6.2%
Buybacks
1,002
592
830
+69.1%
Diluted shares, weighted
1,377m
1,386m
1,403m
-0.6%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
3,656
3,062
2,368
+19.4%
Debt
0.0
0.0
0.0
Operating lease liabilities
4,263
3,804
3,495
+12.1%
Other liabilities
1,286
1,179
1,064
+9.1%
Total liabilities and equity
9,204
8,044
6,928
+14.4%
Fixed assets
2,390
2,170
1,951
+10.1%
Goodwill
21.9
21.9
21.9
0.0%
Investments
1,542
1,299
903
+18.7%
Cash and equivalents
749
561
384
+33.5%
Receivables
144
116
107
+24.6%
Inventory
48.9
39.3
35.7
+24.5%
Other assets
4,308
3,838
3,525
+12.3%
Total assets
9,204
8,044
6,928
+14.4%
10-K for the year ended 31 December 2024, filed 5 February 2025: the filing.