Chipotle Mexican Grill, Inc. (CMG)

CMG Income Statement

Revenue, expenses, and profitability analysis

CMG Quarterly Income Statement (USD)

Quarterly Report	TTM	03/31/2026	12/31/2025	09/30/2025	06/30/2025	03/31/2025	12/31/2024	09/30/2024	06/30/2024
Gross Profit	4.386B	2.113B	698.772M	735.583M	838.230M	753.622M	704.261M	712.181M	859.400M
Revenue	12.139B	3.088B	2.984B	3.003B	3.063B	2.875B	2.845B	2.794B	2.973B
Cost of Goods Sold	7.753B	975.292M	2.285B	2.268B	2.225B	2.122B	2.141B	2.081B	2.114B
Gross Profit Margin	68.4%	68.4%	23.4%	24.5%	27.4%	26.2%	24.8%	25.5%	28.9%
Total Operating Expenses	2.469B	1.716B	253.043M	237.266M	263.096M	259.994M	288.529M	238.925M	273.347M
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	682.954M	203.720M	160.341M	146.742M	172.151M	172.783M	191.216M	126.614M	175.028M
Operating Income (EBIT)	1.916B	397.063M	445.729M	498.317M	575.134M	493.628M	415.732M	473.256M	586.053M
Operating Margin	12.9%	12.9%	14.9%	16.6%	18.8%	17.2%	14.6%	16.9%	19.7%
Income Before Tax (EBT)	1.914B	405.805M	433.643M	496.961M	577.412M	501.503M	439.097M	502.563M	607.914M
Interest Income	51.468M	—	13.324M	19.789M	18.355M	22.253M	23.365M	29.307M	21.861M
Interest Expense	—	—	—	—	—	—	—	—	—
Other Income/Expense	-2.422M	8.742M	-12.086M	-1.356M	2.278M	7.875M	23.365M	29.307M	21.861M
Net Income	1.452B	302.824M	330.932M	382.103M	436.127M	386.599M	331.764M	387.388M	455.671M
Income Tax Expense	461.835M	102.981M	102.711M	114.858M	141.285M	114.904M	107.333M	115.175M	152.243M
Net Profit Margin	9.8%	9.8%	11.1%	12.7%	14.2%	13.4%	11.7%	13.9%	15.3%
EBITDA	2.287B	493.781M	538.431M	588.841M	666.079M	580.839M	513.045M	585.567M	684.372M
EBITDA Margin	16.0%	16.0%	18.0%	19.6%	21.7%	20.2%	18.0%	21.0%	23.0%
Depreciation & Amortization	370.889M	96.718M	92.702M	90.524M	90.945M	87.211M	83.876M	84.349M	83.562M
EPS Basic	1.09	0.23	0.25	0.29	0.32	0.29	0.24	0.28	0.33
EPS Diluted	1.09	0.23	0.25	0.29	0.32	0.28	0.24	0.28	0.33
Shares Outstanding	1.298B	1.298B	1.315B	1.335B	1.345B	1.355B	1.361B	1.367B	1.373B
Diluted Shares Outstanding	1.302B	1.302B	1.320B	1.340B	1.350B	1.361B	1.369B	1.375B	1.382B

CMG Annual Income Statement (USD)

Annual Report	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Gross Profit	3.026B	3.018B	2.586B	2.062B	1.707B	1.041B	1.142B	910.992M
Revenue	11.926B	11.314B	9.872B	8.635B	7.547B	5.985B	5.586B	4.865B
Cost of Goods Sold	8.899B	8.296B	7.286B	6.573B	5.840B	4.944B	4.444B	3.954B
Gross Profit Margin	25.4%	26.7%	26.2%	23.9%	22.6%	17.4%	20.5%	18.7%
Total Operating Expenses	1.013B	1.101B	1.028B	901.716M	902.066M	750.917M	698.532M	652.624M
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	652.017M	697.483M	633.584M	564.191M	606.854M	466.291M	451.552M	375.460M
Operating Income (EBIT)	2.013B	1.916B	1.558B	1.160B	804.943M	290.164M	443.958M	258.368M
Operating Margin	16.9%	16.9%	15.8%	13.4%	10.7%	4.8%	7.9%	5.3%
Income Before Tax (EBT)	2.010B	2.010B	1.621B	1.182B	812.763M	293.781M	458.285M	268.436M
Interest Income	73.721M	93.897M	62.693M	21.128M	7.820M	3.617M	14.327M	10.068M
Interest Expense	—	—	—	—	—	—	—	—
Other Income/Expense	-3.289M	93.897M	62.693M	21.128M	7.820M	3.617M	14.327M	10.068M
Net Income	1.536B	1.534B	1.229B	899.101M	652.984M	355.766M	350.158M	176.553M
Income Tax Expense	473.758M	476.120M	391.769M	282.430M	159.779M	-61.985M	108.127M	91.883M
Net Profit Margin	12.9%	13.6%	12.4%	10.4%	8.7%	5.9%	6.3%	3.6%
EBITDA	2.374B	2.320B	1.953B	1.498B	1.100B	574.790M	690.938M	535.532M
EBITDA Margin	19.9%	20.5%	19.8%	17.3%	14.6%	9.6%	12.4%	11.0%
Depreciation & Amortization	361.382M	335.030M	319.394M	286.826M	254.657M	238.534M	212.778M	201.979M
EPS Basic	1.15	1.12	0.89	0.65	0.46	0.25	0.25	0.13
EPS Diluted	1.14	1.11	0.89	0.64	0.46	0.25	0.25	0.13
Shares Outstanding	1.337B	1.368B	1.378B	1.393B	1.407B	1.396B	1.387B	1.391B
Diluted Shares Outstanding	1.343B	1.377B	1.385B	1.403B	1.426B	1.421B	1.415B	1.398B

Values are displayed in USD. Negative numbers shown in red.

Values are displayed in USD. Negative numbers are shown in red.

About Chipotle Mexican Grill, Inc.

Chipotle Mexican Grill, Inc., along with its affiliated companies, oversees the ownership and daily running of Chipotle Mexican Grill eateries. By February 15, 2022, its global presence included roughly 3,000 restaurant locations spread across the United States, Canada, the United Kingdom, France, Germany, and other parts of Europe. The company was established in 1993 and maintains its principal office in Newport Beach, California.

Newport Beach, CA

130,504 employees

www.chipotle.com

Consumer Cyclical / Restaurants

Sector: Consumer Cyclical
Industry: Restaurants
CEO: Scott Boatwright

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