Sunday 15 November 2026 Export CMG’s income statement to Excel — free account

Chipotle Mexican Grill, Inc.

CMG

Chipotle Mexican Grill, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $11.9 billion, up 5.41% from fiscal 2024.

Revenue: +9.65%
EPS: −7.55%
Free cash flow: −14.5%

Quarter to September 2026, against a year earlier

35.28 0.11 +0.31%

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Market cap: $44.5B
P/E: 32.9×
Fwd P/E FY26e: 33.0×
Dividend yield: —
F-score: 5/9
ROIC: 72.3%
Net debt / EBITDA: −0.5×
Payout ratio: —

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Chipotle Mexican Grill, Inc. (CMG) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
U. S. Segment	11,679	97.94%
Other, not broken out	246	2.06%
Gross margin		25.38%
Operating margin		16.23%
Pre-tax margin		16.85%

Revenue by product or service $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Food and beverage revenue	11,866 99.50%	11,247 99.41%	9,804 99.32%	8,558 99.11%	7,457 98.81%	5,921 98.93%	5,561 99.55%	4,861 99.91%
Delivery service revenue	60 0.50%	66 0.59%	68 0.68%	77 0.89%	90 1.19%	64 1.07%	25 0.45%	4 0.09%
Revenue	11,926	11,314	9,872	8,635	7,547	5,985	5,586	4,865

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022
U. S. Segment	11,679 97.94%	11,112 98.21%	9,720 98.47%	8,516 98.63%
Other, not broken out	246 2.06%	202 1.79%	151 1.53%	118 1.37%
Revenue	11,926	11,314	9,872	8,635

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022
U. S. Segment	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡
Operating income	‡	‡	‡	‡
	‡	‡	‡	‡
	‡	‡	‡	‡
	‡	‡	‡	‡
	‡	‡	‡	‡
	‡	‡	‡	‡
	‡	‡	‡	‡
	‡	‡	‡	‡
	‡	‡	‡	‡
	‡	‡	‡	‡

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Comparable restaurant sales increase	Q3 FY2026	2.10%	0.30%	—
Digital sales	Q3 FY2026	38.8%	36.7%	—
Higher transactions	Q3 FY2026	0.80%	—	—
Increase in average check	Q3 FY2026	1.30%	1.10%	—
Locations including a Chipotlane	Q3 FY2026	53.00	64.00	−17.19%
Number of restaurants at end of period	Q3 FY2026	4.3K	3.9K	+8.96%
Number of restaurants opened	Q3 FY2026	84.00	84.00	0.00%
Partner-operated restaurants at end of period	Q3 FY2026	20.00	7.00	+185.71%
Partner-operated restaurants opened	Q3 FY2026	5.00	2.00	+150.00%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023
Comparable restaurant sales increase	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Digital sales	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Higher transactions	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Increase in average check	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Locations including a Chipotlane	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Number of restaurants at end of period	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Number of restaurants opened	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Partner-operated restaurants at end of period	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Partner-operated restaurants opened	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.