Latest revenue
$3.09B
as of 2026-03-31
Latest net income
$302.8M
as of 2026-03-31
Net margin
9.8%
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $42.19B
- Enterprise value
- $41.94B
- P/E (trailing)
- 27.5×
- Forward P/E
- —
- P/B
- 17.52×
- Dividend yield
- 0.0%
- 52-wk high
- $58.42
- 52-wk low
- $29.75
- Beta
- —
- Shares out
- 1.28B
5-year trend
What this company does
Chipotle operates roughly 4,090 fast-casual restaurants serving burritos, bowls, tacos, and salads made with fresh ingredients, mostly in the US with a small international footprint. Nearly all revenue comes from food and beverage sales at company-owned restaurants, supplemented by modest delivery fees and a growing Chipotle Rewards loyalty program. Q1 2026 results show margin pressure as labor and operating costs outpaced 7% revenue growth, dropping operating income 17%, while management aggressively repurchased $755 million of stock, shrinking equity by 15%.
Generated from CMG's filing dated 2026-02-04
Key risks
- Margin compression: operating income fell 17% to $397M on just 7.4% revenue growth, as labor (+12%) and other operating costs (+16%) outpaced sales.
- Earnings deterioration: Q1 net income dropped 22% YoY to $303M ($0.23 EPS vs $0.29), signaling weakening unit economics despite new openings.
- Aggressive buybacks draining equity: $755M repurchased in Q1 cut retained earnings from $620M to $168M and shareholders' equity from $2.83B to $2.41B.
Generated from CMG's filing dated 2026-02-04
Profitability
Operating margin
16.2%
4.2%Net margin
12.9%
5.0%Return on equity
54.3%
29.3%Return on assets
17.1%
2.4%Leverage
Debt / equity
2.18×
43.5%Debt / assets
68.5%
13.7%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $3.09B | +7.4% | $302.8M | -21.7% | 9.8% |
Q4 2025 2025-12-31 | $2.98B | +4.9% | $330.9M | -0.3% | 11.1% |
Q3 2025 2025-09-30 | $3.00B | +7.5% | $382.1M | -1.4% | 12.7% |
Q2 2025 2025-06-30 | $3.06B | +3.0% | $436.1M | -4.3% | 14.2% |
Q1 2025 2025-03-31 | $2.88B | +6.4% | $386.6M | +7.6% | 13.4% |
Q4 2024 2024-12-31 | $2.85B | — | $331.8M | — | 11.7% |
Q3 2024 2024-09-30 | $2.79B | +13.0% | $387.4M | +23.7% | 13.9% |
Q2 2024 2024-06-30 | $2.97B | +18.2% | $455.7M | +33.3% | 15.3% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Retail-Eating Places · SIC 5812
Your notes
Keep private notes on CMG — thesis, target price, catalysts to watch.
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Insider activity
Insider buying
$0
Insider selling
$20.8M
Net activity
−$20.8M
Distinct insiders
6
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns CMG
Institutional value
$10.86B
Total shares held
346.4M
Distinct holders
764
As of
2026-03-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | VANGUARD CAPITAL MANAGEMENT LLC | 84.7M | $2.71B | — | New |
| 2 | VANGUARD PORTFOLIO MANAGEMENT LLC | 61.1M | $1.96B | — | New |
| 3 | Invesco Ltd. | 10.2M | $326.5M | — | New |
| 4 | UBS Group AG | 8.8M | $280.7M | — | New |
| 5 | Legal & General Group Plc | 8.5M | $272.3M | — | New |
| 6 | Sustainable Growth Advisers, LP | 7.8M | $250.3M | — | New |
| 7 | Nuveen, LLC | 7.7M | $247.7M | — | New |
| 8 | VANGUARD FIDUCIARY TRUST CO | 7.5M | $240.6M | — | New |
| 9 | Bank of New York Mellon Corp | 6.9M | $219.5M | — | New |
| 10 | DIMENSIONAL FUND ADVISORS LP | 6.7M | $215.1M | — | New |
| 11 | DEUTSCHE BANK AG\ | 5.1M | $163.4M | — | New |
| 12 | JANE STREET GROUP, LLC | 4.7M | $151.6M | — | New |
| 13 | MONTRUSCO BOLTON INVESTMENTS INC. | 4.8M | $148.2M | — | New |
| 14 | WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | 3.9M | $125.2M | — | New |
| 15 | Swiss National Bank | 3.9M | $124.2M | — | New |
| 16 | Magellan Asset Management Ltd | 3.9M | $123.7M | — | New |
| 17 | TD ASSET MANAGEMENT INC | 3.6M | $115.9M | — | New |
| 18 | WELLS FARGO & COMPANY/MN | 3.3M | $107.2M | — | New |
| 19 | Assenagon Asset Management S.A. | 3.3M | $105.1M | — | New |
| 20 | Sumitomo Mitsui Trust Group, Inc. | 3.1M | $98.1M | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
Operating income fell 17% YoY to $397M while labor costs jumped 12%—what specific traffic or pricing actions reverse this margin compression in Q2?
- 2
You repurchased $755M of stock this quarter, draining retained earnings to $168M from $620M—justify this pace given decelerating earnings and $247M cash.
- 3
Food/packaging costs rose 9% on 7.4% revenue growth—how much reflects beef inflation versus portion-size remediation following last year's customer complaints?
Refreshed when CMG files a new report · last from 2026-02-04