Chipotle Mexican Grill, Inc.

CMGNYSE

$27.69

Last price · USD

Market cap: $37.18B
P/E: 24.3x
EV / EBITDA: 17.6x
P/S: 3.1x
FCF yield: 3.9%
Div. yield: 0.00%

Multiples use last price and FY2025 annual figures. Market cap estimated from diluted shares.

Chipotle Mexican Grill, Inc. balance sheet

Annual · USD millions except per-share data · 43 lines

Fiscal year	2025latest	2024	2023	2022	2021	CAGR
Current assets
Cash & cash equivalents	351	749	561	384	815	-19.0%
Short-term investments	694	674	735	515	261	+27.7%
Cash & short-term investments	1,045	1,423	1,295	899	1,076	-0.7%
Net receivables	252	211	168	155	194	+6.8%
Accounts receivable	156	144	116	107	100	+12.0%
Other receivables	96	67	53	48	94	+0.5%
Inventory	50	49	39	36	33	+10.8%
Prepaids	98	80	98	86	79	+5.6%
Other current assets	22	17	20	0	0	—
Total current assets	1,467	1,781	1,621	1,176	1,382	+1.5%
Non-current assets
Property, plant & equipment (net)	7,142	6,390	5,749	5,254	4,888	+9.9%
Goodwill	22	22	22	22	22	0.0%
Goodwill & intangible assets	22	22	22	22	22	0.0%
Long-term investments	197	868	564	388	274	-7.9%
Other non-current assets	166	144	89	88	88	+17.4%
Total non-current assets	7,528	7,424	6,424	5,752	5,271	+9.3%
Total assets	8,995	9,204	8,044	6,928	6,653	+7.8%
Current liabilities
Accounts payable	213	211	198	185	163	+6.9%
Other payables	48	47	42	36	32	+10.4%
Total payables	260	258	240	220	195	+7.5%
Capital lease obligations (current)	302	278	248	236	219	+8.4%
Tax payables	0	47	42	36	32	—
Deferred revenue	240	239	210	183	156	+11.4%
Other current liabilities	83	70	61	0	48	+14.8%
Total current liabilities	1,188	1,169	1,031	922	874	+8.0%
Non-current liabilities
Capital lease obligations (non-current)	4,773	4,263	3,804	3,495	3,302	+9.7%
Deferred tax liabilities (non-current)	126	46	89	99	142	-3.0%
Other non-current liabilities	77	71	59	44	39	+18.8%
Total non-current liabilities	4,976	4,380	3,952	3,638	3,482	+9.3%
Capital lease obligations	5,076	4,541	4,052	3,731	3,520	+9.6%
Total debt	5,076	4,541	4,052	3,731	3,520	+9.6%
Total liabilities	6,164	5,549	4,982	4,559	4,356	+9.1%
Stockholders' equity
Common stock	13	14	19	0	0	+143.5%
Retained earnings	620	1,574	6,057	4,828	3,929	-37.0%
Additional paid-in capital	2,205	2,078	1,938	1,829	1,729	+6.3%
Treasury stock	0	0	(4,945)	(4,282)	(3,356)	—
Accumulated other comprehensive income (loss)	(7)	(10)	(7)	(8)	(5)	—
Total stockholders' equity	2,831	3,656	3,062	2,368	2,297	+5.4%
Total equity	2,831	3,656	3,062	2,368	2,297	+5.4%
Total liabilities & equity	8,995	9,204	8,044	6,928	6,653	+7.8%
Additional fields
Accrued Expenses	302	325	272	282	255	+4.3%
Net Debt	4,725	3,792	3,491	3,347	2,705	+15.0%
Total Investments	891	1,542	1,299	903	535	+13.6%

Chipotle Mexican Grill, Inc.

CMGNYSE

$27.69

Last price · USD

Market cap: $37.18B
P/E: 24.3x
EV / EBITDA: 17.6x
P/S: 3.1x
FCF yield: 3.9%
Div. yield: 0.00%

Multiples use last price and FY2025 annual figures. Market cap estimated from diluted shares.

Chipotle Mexican Grill, Inc. balance sheet

Annual · USD millions except per-share data · 43 lines

Fiscal year	2025latest	2024	2023	2022	2021	CAGR
Current assets
Cash & cash equivalents	351	749	561	384	815	-19.0%
Short-term investments	694	674	735	515	261	+27.7%
Cash & short-term investments	1,045	1,423	1,295	899	1,076	-0.7%
Net receivables	252	211	168	155	194	+6.8%
Accounts receivable	156	144	116	107	100	+12.0%
Other receivables	96	67	53	48	94	+0.5%
Inventory	50	49	39	36	33	+10.8%
Prepaids	98	80	98	86	79	+5.6%
Other current assets	22	17	20	0	0	—
Total current assets	1,467	1,781	1,621	1,176	1,382	+1.5%
Non-current assets
Property, plant & equipment (net)	7,142	6,390	5,749	5,254	4,888	+9.9%
Goodwill	22	22	22	22	22	0.0%
Goodwill & intangible assets	22	22	22	22	22	0.0%
Long-term investments	197	868	564	388	274	-7.9%
Other non-current assets	166	144	89	88	88	+17.4%
Total non-current assets	7,528	7,424	6,424	5,752	5,271	+9.3%
Total assets	8,995	9,204	8,044	6,928	6,653	+7.8%
Current liabilities
Accounts payable	213	211	198	185	163	+6.9%
Other payables	48	47	42	36	32	+10.4%
Total payables	260	258	240	220	195	+7.5%
Capital lease obligations (current)	302	278	248	236	219	+8.4%
Tax payables	0	47	42	36	32	—
Deferred revenue	240	239	210	183	156	+11.4%
Other current liabilities	83	70	61	0	48	+14.8%
Total current liabilities	1,188	1,169	1,031	922	874	+8.0%
Non-current liabilities
Capital lease obligations (non-current)	4,773	4,263	3,804	3,495	3,302	+9.7%
Deferred tax liabilities (non-current)	126	46	89	99	142	-3.0%
Other non-current liabilities	77	71	59	44	39	+18.8%
Total non-current liabilities	4,976	4,380	3,952	3,638	3,482	+9.3%
Capital lease obligations	5,076	4,541	4,052	3,731	3,520	+9.6%
Total debt	5,076	4,541	4,052	3,731	3,520	+9.6%
Total liabilities	6,164	5,549	4,982	4,559	4,356	+9.1%
Stockholders' equity
Common stock	13	14	19	0	0	+143.5%
Retained earnings	620	1,574	6,057	4,828	3,929	-37.0%
Additional paid-in capital	2,205	2,078	1,938	1,829	1,729	+6.3%
Treasury stock	0	0	(4,945)	(4,282)	(3,356)	—
Accumulated other comprehensive income (loss)	(7)	(10)	(7)	(8)	(5)	—
Total stockholders' equity	2,831	3,656	3,062	2,368	2,297	+5.4%
Total equity	2,831	3,656	3,062	2,368	2,297	+5.4%
Total liabilities & equity	8,995	9,204	8,044	6,928	6,653	+7.8%
Additional fields
Accrued Expenses	302	325	272	282	255	+4.3%
Net Debt	4,725	3,792	3,491	3,347	2,705	+15.0%
Total Investments	891	1,542	1,299	903	535	+13.6%