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Chipotle Mexican Grill Inc.
CMG
36.49 (-0.30%) 0.11
Consumer Discretionary
Hotels Restaurants and Leisure
Chipotle Mexican Grill Inc. together with its subsidiaries owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages such as burritos burrito bowls quesadillas tacos and salads as well as kids’s meals chips and sides. It offers Mexican-inspired meals using responsibly sourced meats such as chicken beef and pork branded as Responsibly Raised. The company also provides digital ordering through its website mobile app and third-party delivery platforms. It has operations in the United States Canada France Germany and the United Kingdom. Chipotle Mexican Grill Inc. was founded in 1993 and is headquartered in Newport Beach California.

Quality Checklist 7/8

5Y Shares Out Change < 0%
ROIC > 10%
Current Ratio > 1
Quick Ratio > 1
Net Margin > 10%
Past Net Income CAGR > 0%
Est. EPS Growth > 5%
Debt/Equity < 1
0.0%of Portfolio

My holdings

Day change:
Total change:
Shares:
Cost basis:
Market cap: $47.53(B)
EV: $51.11(B)
Total Equity: $2.83(B)
Earnings date: Apr-24-2026
P/E: 31.73
Forward P/E: 32.01
P/FCF: 32.87
P/S: 4.09
P/B: 16.82
EPS: $1.1
EPS (fwd): $1.1
FCF/share: $1.1
Revenue/share: $8.9
Book value/share: $2.2
ROIC: 19.5%
ROA: 16.8%
ROE: 45.0%
Debt/Equity: 1.79
Current Ratio: 1.20
Gross margin: 40.1%
Operating margin: 16.9%
Net margin: 12.9%
Dividend/share: $0.0
Div. yield: 0.00%
All Valuation Overview Growth Financials & KPIsCompetitors & Peer Comparison Ownership Tools

CMG Valuation & Price Targets

Current Price
$36.5

Favorite Valuation Methods

PEvaluation
N/A
Analyst targets
N/A
DCF (2-stage)
N/A

More Valuation Methods

DCF (simple)
N/A
N/A
DCF (exit mult.)
N/A
N/A
DDM
N/A
N/A
EPS growth
N/A
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Revenue growth
N/A
N/A
Peter Lynch FV
N/A
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Graham No.
N/A
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PEvaluation

50% overvalued
Low
$13.7
Mid
$18.3
High
$22.9
Current price
$36.5
Fair P/E
Margin of safety
EPS
Market Model
ROICRevenue growthFCF MarginShares outstan...Debt/EquityDebt/EBITDA
Economic moat: None/narrow

EPS Estimates

LowAvgHigh#
FY+11.11.11.237
FY+21.31.41.637
FY+31.51.61.813
FY+41.82.02.24
FY+52.12.32.63

Analyst Price Targets

23% undervalued
Low
$35.0
Mid
$45.0
High
$53.0
Current price
$36.5

Analyst Recommendations

Strong Buy4
Buy22
Hold12
Sell0
Strong Sell0

2-stage DCF

First Stage Duration: 5 Years
Starting Free Cash Flow
First Stage Growth Rate
LowMidHigh
Terminal Growth Rate
LowMidHigh
Discount Rate

Discounted Cash Flow

Forecast years: 5 Years
Terminal Growth Rate
LowMidHigh
Discount Rate
Free cash flow estimates:
Y+1 est.
Y+2 est.
0.00%
Y+3 est.
0.00%
Y+4 est.
0.00%
Y+5 est.
0.00%

Discounted Cash Flow (exit mult.)

Forecast years: 5 Years
Exit FCF Multiple
LowMidHigh
Discount Rate
Free cash flow estimates:
Y+1 est.
Y+2 est.
0.00%
Y+3 est.
0.00%
Y+4 est.
0.00%
Y+5 est.
0.00%

Dividend Discount Model

Annual Dividend
First Stage Length (Years): 0 Years
First Stage Growth Rate
Final Growth Rate
Discount Rate

EPS Growth

Forecast years: 5 Years
Starting EPS
EPS Growth Rate
LowMidHigh
Final P/E
LowMidHigh
Discount Rate

Revenue Growth Valuation

Forecast Years: 10 Years
Base Revenue
Revenue Growth Rate
LowMidHigh
Final Net Margin
LowMidHigh
Final P/E Ratio
LowMidHigh
Discount Rate

Peter Lynch Fair Value

Earnings Per Share
Growth Rate

Graham Formula

Earnings Per Share
EPS Growth (7-10 years)
Government Bond Rate

TTM Financials

Income (TTM)

RevenueGrossNet
Revenue$11.93(B)
Gross profit$4.78(B)
EBITDA$2.38(B)
Net income$1.54(B)
Gross margin40.1%
Operating margin16.9%
Net margin12.9%
Shares outstanding1.30(B)

Balance sheet

Cash & ST inv.Other ST assetsLong term assetsCurrent liabilitiesLong term debtOther LT liabilitiesEquity
Total assets$8.99(B)
Current assets$1.47(B)
Total liabilities$6.16(B)
Current liabilities$1.19(B)
Cash & Short-term inv.$1.05(B)
Long-term debt$0
Total intangibles$21.94(M)
PP&E$7.14(B)

Cash flow (TTM)

CFOCFICFF
FCF$1.45(B)
CapEx$-666.34(M)
Dividends paid$0
Stock issued$0
Stock repurchased$-2.47(B)
Stock-based comp.$119.54(M)
Debt issued$0
Debt repaid$0

Per share data (TTM)

Price: $36.5
Revenue: $8.92 (4.1x | 24.4%) Gross profit: $3.67 (9.9x | 10.1%) Earnings: $1.15 (31.7x | 3.2%)
FCF: $1.11 (32.9x | 3.0%) Stock-based Comp.: $0.09 (397.6x | 0.3%) CapEx.: $0.51 (71.3x | 1.4%) Dividend: $0.00 (N/A | 0.0%)
Total Assets: $6.91 (5.3x | 18.9%) Total Liabilities: $4.73 (7.7x | 13.0%) Book Value: $2.17 (16.8x | 5.9%) Cash & ST inv.: $0.81 (45.3x | 2.2%) Debt: $0.00 (N/A | 0.0%)
Earnings FY+1: $1.14 (32.0x | 3.1%) Earnings FY+2: $1.37 (26.6x | 3.8%) Earnings FY+3: $1.64 (22.3x | 4.5%) Earnings FY+4: $1.99 (18.3x | 5.5%) Earnings FY+5: $2.33 (15.7x | 6.4%)
FCF FY+1: $1.06 (34.4x | 2.9%) FCF FY+2: $1.21 (30.1x | 3.3%) FCF FY+3: $1.52 (23.9x | 4.2%) FCF FY+4: $1.71 (21.3x | 4.7%) FCF FY+5: $1.94 (18.8x | 5.3%)

Summary

Growth Estimates

Revenue

CAGR: 11.2%
FY+1FY+2FY+3FY+4FY+5
FY+1$12.95(B)
FY+2(+11.2%)$14.40(B)
FY+3(+11.4%)$16.03(B)
FY+4(+11.4%)$17.86(B)
FY+5(+10.7%)$19.77(B)

Net Income

CAGR: 16.3%
FY+1FY+2FY+3FY+4FY+5
FY+1$1.48(B)
FY+2(+18.0%)$1.74(B)
FY+3(+15.3%)$2.01(B)
FY+4(+18.5%)$2.38(B)
FY+5(+13.5%)$2.70(B)

EPS

CAGR: 19.6%
FY+1FY+2FY+3FY+4FY+5
FY+1$1.14
FY+2(+20.2%)$1.37
FY+3(+19.7%)$1.64
FY+4(+21.3%)$1.99
FY+5(+17.1%)$2.33

FCF per share

CAGR: 16.3%
FY+1FY+2FY+3FY+4FY+5
FY+1$1.06
FY+2(+14.4%)$1.21
FY+3(+25.6%)$1.52
FY+4(+12.3%)$1.71
FY+5(+13.5%)$1.94

Historical Financials

Showing limited histrical data.
TTM (Y)TTM (Q)FYFQ
Income(show more...)
Q3'20 (TTM)Q3'21 (TTM)Q3'22 (TTM)Q3'23 (TTM)Q3'24 (TTM)Q3'25 (TTM)0.02.0(B)4.0(B)6.0(B)8.0(B)10.0(B)
Revenue Operating Income Net IncomeCOGSGross ProfitTotal OpEx.R&DSG&AInterest ExpenseInterest IncomeOther Non-operating IncomePre-tax incomeIncome tax
Cash flow(show more...)
Q3'20 (TTM)Q3'21 (TTM)Q3'22 (TTM)Q3'23 (TTM)Q3'24 (TTM)Q3'25 (TTM)0.0200.0(M)400.0(M)600.0(M)800.0(M)1.0(B)1.2(B)1.4(B)
Stock-based Comp. FCFCFONet IncomeD&AChange in Working CapitalCFFStock IssuedStock RepurchasedDebt IssuedDebt RepaidDividend PaidCFIAcquisitionsDivestituresCapital Expenditures
Balance sheet(show more...)
Q3'20 (TTM)Q3'21 (TTM)Q3'22 (TTM)Q3'23 (TTM)Q3'24 (TTM)Q3'25 (TTM)0.02.0(B)4.0(B)6.0(B)8.0(B)
Total Assets Total LiabilitiesCurrent assetsCash and EquivalentsShort-term investmentsInventoriesReceivablesNon-current assetsNet PP&EIntangible AssetsGoodwillCurrent liabilitiesShort-Term DebtAccounts payableNon-current liabilitiesLong-Term DebtTotal Equity
Per share data(show more...)
Q3'20 (TTM)Q3'21 (TTM)Q3'22 (TTM)Q3'23 (TTM)Q3'24 (TTM)Q3'25 (TTM)0.00.20.40.60.81.0
EPS (Basic) FCF/Share Dividend/ShareEPS (Diluted)Book value/ShareCash & ST inv./ShareDebt/Share
Ratios(show more...)
Q3'20 (TTM)Q3'21 (TTM)Q3'22 (TTM)Q3'23 (TTM)Q3'24 (TTM)Q3'25 (TTM)0.020.040.060.080.0
P/E P/S EV/EarningsP/FCFP/BEV/FCFDebt/EquityPayout ratio
Margins(show more...)
Q3'20 (TTM)Q3'21 (TTM)Q3'22 (TTM)Q3'23 (TTM)Q3'24 (TTM)Q3'25 (TTM)0%5%10%15%20%25%
Net Income Margin Operating Margin Gross MarginEBITDA MarginFCF Margin
Returns(show more...)
Q3'20 (TTM)Q3'21 (TTM)Q3'22 (TTM)Q3'23 (TTM)Q3'24 (TTM)Q3'25 (TTM)0%5%10%15%20%
ROIC ROAROCEROE
Shares outstanding(show more...)
Q3'20 (TTM)Q3'21 (TTM)Q3'22 (TTM)Q3'23 (TTM)Q3'24 (TTM)Q3'25 (TTM)0.0200.0(M)400.0(M)600.0(M)800.0(M)1.0(B)1.2(B)1.4(B)
Shares (Basic)Shares (Diluted)
Market Cap.(show more...)
Q3'20 (TTM)Q3'21 (TTM)Q3'22 (TTM)Q3'23 (TTM)Q3'24 (TTM)Q3'25 (TTM)0.020.0(B)40.0(B)60.0(B)
Market Cap.

KPIs

Operating Expense Breakdown(show more...)
9/202312/20233/20246/20249/202412/20243/20256/20259/202512/2025
Other Store Operating Costs Occupancy Food, Beverage, and Packaging Impairment, Closure Costs, and Asset Disposals Preopening Costs Labor Depreciation and Amortization General and Administrative

CMG vs Peers

Similar Companies

Ownership

Major holders

*Excludes indirect insider ownership

Insiders: 0.60%
Institutions: 91.59%
Other: 7.81%

Institutional ownership

11.10% Vanguard Group Inc8.43% Blackrock Inc.7.81% Capital World Investor...4.28% State Street Corporati...4.02% JPMORGAN CHASE & CO3.78% Price (T.Rowe) Associa...3.48% Capital International ...2.29% Geode Capital Manageme...2.10% FMR, LLC1.97% Alliancebernstein L.P.42.33% Others

Trading Summary

In the past year, insiders have bought $498200 worth of the company's stock, and sold $24.10(M).

Congress members have bought between $109018 - $460000 worth of the company's stock, and sold between $212022 - $755000.

Insider transactions

$0.002026-03$0.00
$2.44(M)2026-02$0.00
$0.002026-01$0.00
$4.58(M)2025-12$0.00
$0.002025-11$0.00
$0.002025-10$0.00
$0.002025-09$0.00
$1.15(M)2025-08$0.00
$8871082025-07$0.00
$11.57(M)2025-06$0.00
$1.34(M)2025-05$0.00
$0.002025-04$0.00
$1.03(M)2025-03$498200
DateSharesTotal ($)Price ($)NameTitle
Sell2026-02-0661,0772,443,85640.0GARNER CURTIS EVANDER IIIPresident
Grant2026-02-0686,1001,003,53011.7GARNER CURTIS EVANDER IIIPresident
Grant2026-02-068,886350,02039.4SCHALOW LAURIEOfficer
Grant2026-02-0620,310800,01139.4ESKENAZI ILENEOfficer
Grant2026-02-0616,502650,01439.4KIDD JASON ALLANChief Operating Officer
Grant2026-02-063,174125,02439.4BUSH MATTHEW ROfficer
Sell2025-12-1267,6462,438,42236.0GARNER CURTIS EVANDER IIIPresident
Grant2025-12-12100,0001,165,54011.7GARNER CURTIS EVANDER IIIPresident
Sell2025-12-0161,8922,145,73434.7GARNER CURTIS EVANDER IIIPresident
Grant2025-12-0193,0001,083,95211.7GARNER CURTIS EVANDER IIIPresident
Grant2025-12-013,40700.0WEINSTEIN JOSHUA IANDirector
Grant2025-10-3112,623400,02331.7BUSH MATTHEW ROfficer
Sell2025-08-2526,5761,146,72543.1ESKENAZI ILENEOfficer
Grant2025-08-115,34000.0BALDOCCHI ALBERT STEVENDirector
Grant2025-07-2516,040750,03046.8KIDD JASON ALLANChief Operating Officer
Grant2025-07-2428,54500.0BRANDT CHRISTOPHER WPresident
Sell2025-07-0715,750887,10856.3GARNER CURTIS EVANDER IIIOfficer
Sell2025-06-2563,0003,473,83355.1GARNER CURTIS EVANDER IIIPresident
Sell2025-06-122,250115,22951.2HICKENLOOPER ROBIN S.Director
Sell2025-06-122,076106,14751.1FILI-KRUSHEL PATRICIA DDirector
Grant2025-06-114,152215,03251.8FUENTES LAURADirector
Grant2025-06-114,152215,03251.8GUTIERREZ MAURICIODirector
Grant2025-06-114,152215,03251.8MAW SCOTT HARLANDirector
Grant2025-06-114,152215,03251.8CAREY MATTHEW ADirector
Grant2025-06-114,152215,03251.8HICKENLOOPER ROBIN S.Director
Grant2025-06-114,152215,03251.8FILI-KRUSHEL PATRICIA DDirector
Grant2025-06-114,152215,03251.8WINSTON MARY ANNDirector
Grant2025-06-114,152215,03251.8BALDOCCHI ALBERT STEVENDirector
Sell2025-06-0619,000997,13352.5BOATWRIGHT HENRY SCOTTChief Executive Officer
Sell2025-06-0423,3021,214,89452.1GARNER CURTIS EVANDER IIIOfficer
Grant2025-06-0430,000349,65011.7GARNER CURTIS EVANDER IIIOfficer
Sell2025-06-02113,8755,659,28049.7THEODOREDIS ROGER E.General Counsel
Grant2025-06-02128,4504,092,98431.9THEODOREDIS ROGER E.General Counsel
Sell2025-05-2123,1341,176,23250.8GARNER CURTIS EVANDER IIIChief Technology Officer
Grant2025-05-2130,000349,65011.7GARNER CURTIS EVANDER IIIChief Technology Officer
Sell2025-05-143,087161,82952.4MCCONNELL JAMIEOfficer
Sell2025-03-1320,7611,033,26149.8GARNER CURTIS EVANDER IIIOfficer
Grant2025-03-1324,225172,1917.1GARNER CURTIS EVANDER IIIOfficer
Buy2025-03-059,400498,20053.0GUTIERREZ MAURICIODirector
Sell2025-02-2520,9371,096,29752.4GARNER CURTIS EVANDER IIIChief Technology Officer
Grant2025-02-2524,225172,2017.1GARNER CURTIS EVANDER IIIChief Technology Officer

Congressional trading

$0.002026-03$0.00
$0.002026-02$0.00
$0.002026-01$32501
$0.002025-12$0.00
$565022025-11$8001
$325012025-10$16001
$400032025-09$16001
$80012025-08$24002
$160012025-07$73002
$1750012025-06$8001
$750012025-05$8001
$80012025-04$91002
$485022025-03$8001
DatePoliticianPartyChamberAmount ($)
Buy2026-01-29Ro KhannaDHouse$15,001 - $50,000
Sell2025-11-10Ro KhannaDHouse$1,001 - $15,000
Sell2025-11-10Ro KhannaDHouse$1,001 - $15,000
Buy2025-11-03Ro KhannaDHouse$1,001 - $15,000
Sell2025-11-03Julia LetlowRHouse$1,001 - $15,000
Sell2025-11-03Markwayne MullinRSenate$15,001 - $50,000
Sell2025-10-30Cleo FieldsDHouse$15,001 - $50,000
Buy2025-10-09Byron DonaldsRHouse$1,001 - $15,000
Buy2025-10-07Ro KhannaDHouse$1,001 - $15,000
Sell2025-09-29Ro KhannaDHouse$1,001 - $15,000
Sell2025-09-12Gilbert Ray Cisneros, Jr.DHouse$1,001 - $15,000
Sell2025-09-12Gilbert Ray Cisneros, Jr.DHouse$1,001 - $15,000
Buy2025-09-05Ro KhannaDHouse$1,001 - $15,000
Buy2025-09-05Ro KhannaDHouse$1,001 - $15,000
Sell2025-09-04Byron DonaldsRHouse$1,001 - $15,000
Sell2025-09-04Byron DonaldsRHouse$1,001 - $15,000
Buy2025-08-26Julia LetlowRHouse$1,001 - $15,000
Buy2025-08-26Ro KhannaDHouse$1,001 - $15,000
Buy2025-08-26Ro KhannaDHouse$1,001 - $15,000
Sell2025-08-04Ro KhannaDHouse$1,001 - $15,000
Sell2025-07-25Ro KhannaDHouse$1,001 - $15,000
Sell2025-07-25Ro KhannaDHouse$1,001 - $15,000
Buy2025-07-02Ro KhannaDHouse$15,001 - $50,000
Buy2025-07-02Ro KhannaDHouse$15,001 - $50,000
Buy2025-07-01Ro KhannaDHouse$1,001 - $15,000
Sell2025-06-12John W. HickenlooperDSenate$100,001 - $250,000
Buy2025-06-03Cleo FieldsDHouse$1,001 - $15,000
Buy2025-05-28Ro KhannaDHouse$1,001 - $15,000
Sell2025-05-12Jefferson ShreveRHouse$50,001 - $100,000
Sell2025-04-23Ro KhannaDHouse$1,001 - $15,000
Buy2025-04-17Jefferson ShreveRHouse$50,001 - $100,000
Buy2025-04-15Ro KhannaDHouse$1,001 - $15,000
Buy2025-04-09Ro KhannaDHouse$1,001 - $15,000
Buy2025-03-20Byron DonaldsRHouse$1,001 - $15,000
Sell2025-03-20Lisa C. McClainRHouse$1,001 - $15,000
Sell2025-03-13Jefferson ShreveRHouse$15,001 - $50,000
Sell2025-03-12Ro KhannaDHouse$1,001 - $15,000
Sell2025-02-26Gilbert Ray Cisneros, Jr.DHouse$1,001 - $15,000
Sell2025-02-25Ro KhannaDHouse$1,001 - $15,000
Sell2025-02-19Ro KhannaDHouse$1,001 - $15,000

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