CHIPOTLE MEXICAN GRILL INC

10-K & 10-Q Filings

Chipotle Mexican Grill, Inc. is a Delaware corporation that owns and operates Chipotle Mexican Grill restaurants. The company's business strategy includes sustaining world-class people leadership, running successful restaurants, making the brand visible and relevant, amplifying technology and innovation, and expanding access and convenience. Chipotle's menu features burritos, burrito bowls, quesadillas, tacos, and salads, and the company strives to serve responsibly sourced, classically cooked, real food with wholesome ingredients. As of December 31, 2023, Chipotle owned and operated 3,371 restaurants in the United States and 66 international restaurants. The company's website is www.chipotle.com and its ticker symbol is CMG. Chipotle's business is focused on providing high-quality food and a great guest experience. The company's food safety and quality assurance teams work to ensure compliance with food safety programs and practices, and Chipotle's digital platform continues to be a strategic driver of growth with digital sales representing 37.4% of food and beverage revenue in 2023. Chipotle also invests heavily in recruiting top talent, promoting diversity, equity, and inclusion, and providing growth and development opportunities for employees. The company's compensation packages and incentive programs, as well as a robust suite of benefit offerings, help engage current team members and attract new ones. Chipotle is subject to various federal, state, and local laws and regulations that govern aspects of its business operations, but the total costs associated with compliance have not had a material effect on the company's capital expenditures, results of operations, or competitive position. The company's business is also subject to general risks and uncertainties that affect many other companies. Additional risks not currently known to Chipotle or that it presently deems immaterial may arise and negatively impact its business, reputation, financial condition, results of operations, or the trading price of its common stock.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$2269.55
2731.22
3214.59
4108.27
4501.22
3904.38
4476.41
4864.98
5586.37
5984.63
7547.06
8634.65
9871.65
2368.58
2701.85
13.03%14.07%Cost of Revenue (-)
$1281.84
1532.84
1813.31
2325.40
2549.56
2470.58
2741.42
2926.84
3319.98
3525.78
4226.39
4800.20
5353.55
1276.35
1438.53
12.65%12.71%Gross Profit (+)
$987.71
1198.39
1401.28
1782.87
1951.66
1433.80
1734.99
1938.15
2266.39
2458.86
3320.67
3834.45
4518.10
1092.23
1263.32
13.51%15.66%Selling, General & Administrative (-)
$149.43
183.41
203.73
273.90
250.21
276.24
296.39
375.46
451.55
466.29
606.85
564.19
633.58
148.34
204.63
12.79%37.94%Depreciation & Amortization (-)
$74.94
84.13
96.05
110.47
130.37
146.37
163.35
201.98
212.78
238.53
254.66
286.83
319.39
76.58
83.24
12.84%8.69%Operating Expenses (-)
$637.15
742.52
868.56
1072.07
1188.07
1399.24
1464.20
1679.78
1822.43
2168.69
2515.73
2674.05
2960.29
363.21
822.03
13.66%126.33%Costs & Expenses (Total) (-)
$1918.99
2275.36
2681.87
3397.47
3737.63
3869.82
4205.62
4606.62
5142.41
5694.47
6742.12
7474.25
8313.84
2000.97
2260.56
13.00%12.97%Operating Income/Loss (+)
$350.56
455.87
532.72
710.80
763.59
34.57
270.79
258.37
443.96
290.16
804.94
1160.40
1557.81
367.61
441.29
13.23%20.04%Non-operating Income/Expense (+)
$-0.86
1.82
1.75
3.50
6.28
4.17
4.95
10.07
14.33
3.62
7.82
21.13
62.69
8.95
19.36
116.38%Earnings before Tax (+)
$349.70
457.69
534.47
714.30
769.87
38.74
275.74
268.44
458.29
293.78
812.76
1181.53
1620.51
376.56
460.66
13.63%22.33%Tax Expense (-)
$134.76
179.69
207.03
268.93
294.26
15.80
99.49
91.88
108.13
61.98
159.78
282.43
391.77
84.91
101.37
9.30%19.38%Income/Loss (Continuing Operations) (+)
$214.94
278.00
327.44
445.37
475.60
22.94
176.25
176.55
350.16
231.80
652.98
899.10
1228.74
291.64
359.29
15.64%23.19%Net Income/Loss (+)
$214.94
278.00
327.44
445.37
475.60
22.94
176.25
176.55
350.16
355.77
652.98
899.10
1228.74
291.64
359.29
15.64%23.19%Net Income/Loss (Common) (+)
$214.94
278.00
327.44
445.37
475.60
22.94
176.25
176.55
350.16
355.77
652.98
899.10
1228.74
291.64
359.29
15.64%23.19%EPS (Basic)
$6.89
8.82
10.58
14.35
15.30
0.78
6.19
6.35
12.62
12.74
23.21
32.28
44.59
10.56
13.09
16.84%23.96%EPS (Diluted)
$6.76
8.75
10.47
14.13
15.10
0.77
6.17
6.31
12.38
12.52
22.90
32.04
44.34
10.50
13.01
16.97%23.90%Weighted Avg Shares (Basic)
31.22
31.51
30.96
31.04
31.09
29.27
28.49
27.82
27.74
27.92
28.13
27.85
27.55
27.62
27.44
-1.03%-0.65%Weighted Avg Shares (Diluted)
31.77
31.78
31.28
31.51
31.49
29.77
28.56
27.96
28.30
28.42
28.51
28.06
27.71
27.79
27.62
-1.13%-0.59%Cash
$401.24
322.55
323.20
419.46
248.00
87.88
184.57
249.95
480.63
607.99
815.37
384.00
560.61
409.73
727.39
2.83%77.53%Short-term Investments
$55.01
150.31
254.97
338.59
415.20
329.84
324.38
426.85
400.16
343.62
260.94
515.14
734.84
652.86
692.47
24.11%6.07%Receivables
$8.39
16.80
24.02
34.84
38.28
40.45
40.45
62.31
80.55
104.50
99.60
106.88
115.53
65.87
89.84
24.43%36.39%Inventory
$8.91
11.10
13.04
15.33
15.04
15.02
19.86
21.55
26.10
26.45
32.83
35.67
39.31
34.60
37.95
13.16%9.68%Prepaid Expenses (Current)
$21.40
27.38
34.20
34.80
39.97
44.08
50.92
54.13
57.08
54.91
78.76
86.41
117.46
98.39
98.12
15.24%-0.28%Other Assets (Current)
$6.24
18.47
16.87
35.46
58.15
5.11
9.35
27.70
282.78
94.06
47.74
52.96
19.51%Assets (Current)
$501.19
546.61
666.31
878.48
814.65
522.37
629.53
814.79
1072.20
1420.24
1381.56
1175.84
1620.71
1261.44
1645.77
10.27%30.47%Securities & Long-term Investments
$128.24
190.87
313.86
496.11
622.94
125.06
30.20
27.86
130.18
305.17
413.02
590.04
393.16
802.95
13.56%104.23%Property, Plant & Equipment (Net)
$751.95
866.70
963.24
1106.98
1217.22
1303.56
1338.37
1379.25
3964.16
4351.50
4887.57
5253.55
5748.59
5315.61
5873.72
18.47%10.50%Goodwill & Intangibles
$21.94
21.94
21.94
21.94
21.94
21.94
21.94
21.94
21.94
21.94
21.94
21.94
21.94
21.94
21.94
0.00%0.00%Other Assets
$21.98
42.55
43.93
42.78
48.32
34.23
55.85
19.33
18.45
59.05
56.72
63.16
63.08
61.23
66.87
9.18%9.21%Assets (Non-current)
$924.12
1122.06
1342.97
1667.81
1910.42
1484.78
1416.16
1450.72
4032.40
4562.66
5271.39
5751.67
6423.65
5791.93
6765.48
17.54%16.81%Assets (Total)
$1425.31
1668.67
2009.28
2546.28
2725.07
2026.10
2045.69
2265.52
5104.60
5982.90
6652.96
6927.50
8044.36
7053.37
8411.25
15.51%19.25%Accounts Payable
$157.32
186.71
199.23
245.71
279.94
281.79
323.89
379.52
398.26
489.69
498.62
502.56
572.87
497.17
555.89
11.37%11.81%Debt (Current)
$
173.14
Other Liabilities (Current)
$0.13
0.14
70.47
95.19
332.51
375.06
419.32
457.75
396.93
441.46
97.12%11.22%Liabilities (Current)
$157.45
186.85
199.23
245.71
279.94
281.79
323.89
449.99
666.59
822.20
873.68
921.88
1030.63
894.09
997.35
16.95%11.55%Debt (Non-current)
$
2678.37
Other Liabilities
$220.10
235.89
271.76
288.21
317.15
341.82
357.35
374.19
76.61
3140.56
3481.90
3637.60
3951.53
3677.59
4052.57
27.21%10.20%Liabilities (Non-current)
$220.10
235.89
271.76
288.21
317.15
341.82
357.35
374.19
2754.98
3140.56
3481.90
3637.60
3951.53
3677.59
4052.57
27.21%10.20%Liabilities (Total)
$381.08
422.74
470.99
533.92
597.09
623.61
681.25
824.18
3421.58
3962.76
4355.58
4559.48
4982.15
4571.69
5049.92
23.89%10.46%Treasury Stock
$304.43
521.52
660.42
748.76
1234.61
2049.39
2334.41
2500.56
2699.12
2802.07
3356.10
4282.01
4944.66
4480.83
5042.32
26.15%12.53%Retained Earnings
$671.46
949.46
1276.90
1722.27
2197.87
2220.81
2397.06
2573.62
2921.45
3276.16
3929.15
4828.25
6056.98
5119.89
6416.27
20.12%25.32%AOCI
$0.20
1.02
1.62
-0.43
-8.27
-8.16
-3.66
-6.24
-5.36
-4.23
-5.35
-7.89
-6.66
-7.43
-7.95
-6.98%Shareholder's Equity
$1044.23
1245.93
1538.29
2012.37
2127.97
1402.49
1364.44
1441.34
1683.03
2020.13
2297.37
2368.02
3062.21
2481.68
3361.33
9.38%35.45%Liabilities & Equity
$1425.31
1668.67
2009.28
2546.28
2725.07
2026.10
2045.69
2265.52
5104.60
5982.90
6652.96
6927.50
8044.36
7053.37
8411.25
15.51%19.25%Net Income/Loss
$214.94
278.00
327.44
445.37
475.60
22.94
176.25
176.55
350.16
355.77
652.98
899.10
1228.74
291.64
359.29
15.64%23.19%Depreciation & Amortization
$74.94
84.13
96.05
110.47
130.37
146.37
163.35
201.98
212.78
238.53
254.66
286.83
319.39
76.58
83.24
12.84%8.69%Increase/Decrease in Working Capital
$-78.51
-54.46
-44.91
-38.00
-35.55
-108.29
-36.94
-82.78
-20.10
173.49
-180.75
-51.55
158.92
-53.82
-26.16
51.39%Share-based Compensation
$41.38
64.28
63.66
96.44
57.91
64.17
65.25
69.16
91.40
82.63
176.39
98.03
124.02
20.08
36.00
9.58%79.26%Adjustments to Reconcile Net Income
$196.15
141.96
201.34
236.69
207.71
326.30
290.85
445.00
371.47
308.08
629.10
424.08
554.74
163.39
205.74
9.05%25.92%Net Cash (Operating)
$411.10
419.96
528.78
682.07
683.32
349.24
467.11
621.55
721.63
663.85
1282.08
1323.18
1783.48
455.04
569.23
13.01%25.10%Capital Expenditure
$151.73
197.04
199.93
252.59
257.42
258.84
216.78
287.39
319.94
383.38
438.44
479.16
560.73
120.37
132.70
11.51%10.25%Net Cash (Investing)
$-210.22
-355.50
-428.31
-518.84
-464.14
326.81
-86.58
-387.58
-291.97
-432.72
-522.04
-830.03
-946.01
-235.55
-301.04
-27.80%Increase/Decrease in Equity
$-63.51
-216.61
-138.59
-88.34
-460.68
-837.65
-285.92
-160.94
-190.62
-54.40
-466.46
-830.14
-592.35
-126.71
-27.00
78.69%Net Cash (Financing)
$-24.27
-143.53
-100.35
-66.74
-386.44
-836.28
-285.89
-166.53
-201.74
-104.85
-548.61
-929.40
-660.65
-193.88
-100.07
48.38%Cash Taxes Paid
$56.27
138.38
160.97
280.69
248.55
23.86
119.79
67.05
109.57
85.01
-17.83
275.80
400.23
-0.24
7.86
17.76%3307.76%Effect of Exchange Rate
$-0.20
0.38
0.54
-0.22
-4.20
0.11
2.06
-1.46
0.41
1.08
-1.04
-1.01
0.38
0.29
-0.75
-359.31%Increase/Decrease in Cash
$176.41
-78.69
0.65
96.26
-171.46
-160.13
96.69
65.98
228.33
127.36
210.39
-437.26
177.20
25.89
167.37
0.04%546.36%Cash (Beginning)
$224.84
401.24
322.55
323.20
419.46
248.00
87.88
214.17
280.15
508.48
635.84
846.23
408.97
408.97
586.16
5.11%43.33%Cash (Ending)
$401.24
322.55
323.20
419.46
248.00
87.88
184.57
280.15
508.48
635.84
846.23
408.97
586.16
434.86
753.53
3.21%73.28%NOPAT
$294.15
318.03
372.27
431.49
517.07
13.27
153.16
193.83
337.81
374.13
646.70
889.54
1173.07
284.71
433.76
12.22%52.35%Gross Margin %
43.52%
43.88%
43.59%
43.40%
43.36%
36.72%
38.76%
39.84%
40.57%
41.09%
44.00%
44.41%
45.77%
46.11%
46.76%
Operating Margin %
15.45%
16.69%
16.57%
17.30%
16.96%
0.89%
6.05%
5.31%
7.95%
4.85%
10.67%
13.44%
15.78%
15.52%
16.33%
NOPAT Margin %
12.96%
11.64%
11.58%
10.50%
11.49%
0.34%
3.42%
3.98%
6.05%
6.25%
8.57%
10.30%
11.88%
12.02%
16.05%
Net Margin %
9.47%
10.18%
10.19%
10.84%
10.57%
0.59%
3.94%
3.63%
6.27%
5.94%
8.65%
10.41%
12.45%
12.31%
13.30%
Tax Rate %
16.09%
30.24%
30.12%
39.30%
32.28%
61.60%
43.44%
24.98%
23.91%
-28.94%
19.66%
23.34%
24.70%
22.55%
1.71%
ROA
20.64%
19.06%
18.53%
16.95%
18.97%
0.66%
7.49%
8.56%
6.62%
6.25%
9.72%
12.84%
14.58%
4.04%
5.16%
ROE
28.17%
25.53%
24.20%
21.44%
24.30%
0.95%
11.22%
13.45%
20.07%
18.52%
28.15%
37.56%
38.31%
11.47%
12.90%
ROIC
33.34%
30.87%
31.58%
31.29%
39.76%
1.08%
11.50%
14.10%
8.07%
8.31%
12.46%
17.19%
20.22%
5.61%
7.72%
Asset Turnover
1.59
1.64
1.60
1.61
1.65
1.93
2.19
2.15
1.09
1.00
1.13
1.25
1.23
0.34
0.32
Inventory Turnover
143.82
138.14
139.02
151.67
169.48
164.50
138.04
135.78
127.22
133.32
128.75
134.58
136.19
36.89
37.91
Equity Multiplier
1.36
1.34
1.31
1.27
1.28
1.44
1.50
1.57
3.03
2.96
2.90
2.93
2.63
2.84
2.50
Current Ratio
3.18
2.93
3.34
3.58
2.91
1.85
1.94
1.81
1.61
1.73
1.58
1.28
1.57
1.41
1.65
Quick Ratio
2.95
2.62
3.02
3.23
2.51
1.63
1.70
1.64
1.44
1.28
1.35
1.09
1.37
1.26
1.51
Debt/Equity Ratio
1.69
Working Capital/Sales
0.05
0.05
0.06
0.06
0.01
-0.02
-0.01
-0.01
0.04
0.02
0.04
-0.01
0.00
-0.11
-0.10
Total Payout
$63.51
216.61
138.59
88.34
460.68
837.65
285.92
160.94
190.62
54.40
466.46
830.14
592.35
126.71
27.00
20.45%-78.69%Payout Ratio %
21.59%
68.11%
37.23%
20.47%
89.09%
6310.10%
186.68%
83.03%
56.43%
14.54%
72.13%
93.32%
50.50%
44.50%
6.23%