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Fast-casual chain serving customizable burritos, bowls and tacos made with unprocessed ingredients, mostly company-operated.
Fast-casual chain serving customizable burritos, bowls and tacos made with unprocessed ingredients, mostly company-operated.
Owns nearly every restaurant rather than franchising, so it keeps all store profit but also carries labour and ingredient costs, with price rises and visits both feeding sales. Growth comes from opening new restaurants, increasingly with drive-through pickup lanes, and from selling more through digital orders. It operates mainly in the US.
Moat: narrow (brand, process know-how). Strong brand built on fresh, customizable food and an efficient assembly-line model; increasingly copied by rivals.
Headquarters: Newport Beach, California, United States · Founded: 1993 · Employees: 130,301
Size Chipotle Mexican Grill (CMG) is a United States Consumer Discretionary company (Restaurants) with a market value of $43.6B, the 283rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $34.43 on 6 Nov 2026.
Performance Over six months the shares gained 6.0%, against +6.5% for the median peer and -1.1% for the United States market (cap-weighted) — 5th lowest of 11 in its peer set.
Growth Revenue grew 7.9% over the last twelve months (peer median +8.6%); the operating margin is 14.9% (peer median 12.4%).
Valuation It trades at 27.1× forward earnings against a peer median of 19.8× (3rd most expensive of 10).
Price implies For today's price to make sense, revenue must grow about 15% a year for seven years (Req g). Recent delivered growth is +15%, so the hurdle is +0 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 11.6 points above its cost of capital (9.3% WACC).
Short interest Short interest is 3.0% of the free float (15 Oct 2026).
Next results Next results expected around 9 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $12.7B | $11.9B | $11.3B | $9.87B | $8.63B |
| Revenue growth | — | +5% | +15% | +14% | — |
| Gross profit | $2.64B | $2.66B | $2.68B | $2.27B | $1.78B |
| EBITDA | $2.29B | $2.37B | $2.32B | $1.95B | $1.51B |
| Net income | $1.38B | $1.54B | $1.53B | $1.23B | $899M |
| Free cash flow | $1.51B | $1.45B | $1.51B | $1.22B | $844M |
| Capital expenditure | $838M | $666M | $594M | $561M | $479M |
| Total debt | $5.60B | $5.08B | $4.54B | $4.05B | $3.73B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Chipotle Mexican Grill CMG | $43.6B | +6% | +8% | 15% | 27.1× | 15.1% |
| CAVA CAVA | $6.91B | -26% | +27% | 7% | 85.5× | 41.5% |
| Sweetgreen SG | $1.43B | +72% | -1% | -18% | n/a | n/a |
| Shake Shack SHAK | $3.08B | +2% | +17% | 5% | 55.7× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CMG | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.3% | +11.5% | 3rd lowest of 11 |
| 6-month return | +6.0% | +6.5% | 5th lowest of 11 |
| Distance from 52-week high | -16.9% | -6.2% | 2nd lowest of 11 |
| Revenue growth (TTM) | +7.9% | +8.6% | 5th lowest of 11 |
| Operating margin | 14.9% | 12.4% | 5th highest of 11 |
| Forward P/E | 27.1× | 19.8× | 3rd most expensive of 10 |
| Growth the price implies (Req g, 7 yrs) | 15.1% | 6.2% | 3rd most demanding of 11 |
| Growth delivered (Del g) | +14.8% | +10.3% | 3rd highest of 11 |
| Hurdle (Req g minus delivered) | +0.3 pp | -6.6 pp | 3rd most demanding of 11 |
| ROIC minus cost of capital | +11.6 pp | +7.0 pp | 4th highest of 11 |
| EV / EBITDA | 21.1× | 16.2× | 2nd most expensive of 11 |
| Net debt / EBITDA | 2.0× | 3.5× | 4th least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Chipotle Mexican Grill CMG | United States | $43.6B | +6% | +8% | 15% | 27.1× | 15.1% | +14.8% |
| Yum! Brands YUM | United States | $44.0B | +7% | +9% | 32% | 24.8× | -0.2% | +7.8% |
| Restaurant Brands International LP QSP-UN.TO | Canada | $35.9B | +12% | +5% | 28% | n/a | 1.0% | +14.6% |
| Restaurant Brands International QSR | United States | $35.1B | -3% | +6% | 27% | 18.1× | 6.3% | +13.7% |
| Darden Restaurants DRI | United States | $25.6B | +15% | +8% | 12% | 19.7× | 7.5% | +12.9% |
| Yum China YUMC | United States | $17.1B | +6% | +10% | 13% | 15.3× | -7.5% | +7.4% |
| Starbucks SBUX | United States | $120B | +1% | +2% | 11% | 32.6× | 18.5% | +5.5% |
| Aramark ARMK | United States | $13.9B | +17% | +11% | 4% | 19.8× | 16.1% | +7.6% |
| Zensho 7550.T | Japan | $12.2B | +41% | +12% | 7% | 34.3× | 6.1% | +16.3% |
| Texas Roadhouse TXRH | United States | $12.1B | +4% | +10% | 8% | 26.8× | 13.8% | +19.6% |
| Domino's DPZ | United States | $11.0B | +4% | +4% | 20% | 16.3× | 1.8% | +3.7% |