Chipotle Mexican Grill
Exchange: NYSESector: Consumer CyclicalIndustry: Restaurants
Chipotle Mexican Grill, Inc. is cultivating a better world by serving responsibly sourced, classically cooked, real food with wholesome ingredients and without artificial colors, flavors or preservatives. There are over 4,000 restaurants as of December 31, 2025, in the United States, Canada, the United Kingdom, France, Germany, and the Middle East, and it is the only restaurant company of its size that owns and operates all its restaurants in North America and Europe. With over 130,000 employees passionate about providing a great guest experience, Chipotle is a longtime leader and innovator in the food industry. Chipotle is committed to making its food more accessible to everyone while continuing to be a brand with a demonstrated purpose as it leads the way in digital, technology and sustainable business practices.
Did you know?
CMG's revenue grew at a 13.5% CAGR over the last 6 years.
Current Price
$33.06
-1.31%GoodMoat Value
$33.66
1.8% undervaluedProfile
Valuation (TTM)
Market Cap$43.71B
P/E28.46
EV$48.10B
P/B15.44
Shares Out1.32B
P/Sales3.67
Revenue$11.93B
EV/EBITDA20.12
Chipotle Mexican Grill (CMG) Stock Analysis
GoodMoat Analysis
Chipotle possesses a strong brand and operational moat, evidenced by high returns and pricing power. However, its valuation appears full, trading near its estimated fair value with a P/E of 28x on modest 4.9% revenue growth. This combination suggests a 'with caution' assessment for value investors.
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Chipotle Mexican Grill operates a fast-casual restaurant chain focused on a limited menu of burritos, tacos, and salads built around a 'Food With Integrity' sourcing philosophy. Applying the GoodMoat framework, the company demonstrates a durable competitive advantage. Its primary moat stems from a powerful brand and culture (criterion #6), which drives customer loyalty and premium pricing. This is supported by scale privileges in its supply chain and restaurant operations (#8) and founder-led execution with a proven operational playbook (#11). The business quality is high, with an exceptional ROE of 54.3% and a solid operating margin of 16.2%, indicating efficient use of capital and strong profitability. The 12.9% profit margin further confirms this operational strength. However, the valuation assessment presents a hurdle. The stock trades at a P/E of 28x on modest revenue growth of 4.9% YoY, and the current price of $32.5 is very close to the GoodMoat Target of $33.66, indicating a minimal margin of safety. Following the Decision Framework, the business likely passes the Moat & Quality Gate but enters the Valuation & Risk Gate 'with caution.' The full valuation requires perfect execution to justify, and the elevated Debt/Equity ratio of 1.79, while manageable, is a point for closer scrutiny. For a value investor, this profile warrants investigation but likely demands a more attractive entry point to provide an adequate margin of safety.
Market Cap$43.71B
Current Price$33.06
P/E Ratio28.46
Forward P/E—
PEG Ratio6.83
EPS$1.14
Book Value$2.14
P/B Ratio15.44
CMG Financial Charts
FCF vs CAPEX
FCFCAPEX
Forward estimates use 23.8% FCF growth (CAGR)
Cash vs Debt
Net Debt: 4.7B
Revenue
5.6B
FY19
6.0B
FY20
7.5B
FY21
8.6B
FY22
9.9B
FY23
11.3B
FY24
11.9B
FY25
Net Income
350M
FY19
356M
FY20
653M
FY21
899M
FY22
1.2B
FY23
1.5B
FY24
1.5B
FY25
CMG 52-Week Range
$29.81
$58.24
50-Day MA: $35.87200-Day MA: $39.83
Did you know?
CMG's revenue grew at a 13.5% CAGR over the last 6 years.
Chipotle Mexican Grill (CMG) Financial Summary
Chipotle Mexican Grill (CMG) is a Consumer Cyclical company in the Restaurants industry, listed on NYSE. The stock currently trades at $33.06 with a market capitalization of $43.71B.
Key valuation metrics include a P/E ratio of 28.46, price-to-book ratio of 15.44, and EPS of $1.14. The company reports a profit margin of 12.9% and return on equity of 54.3%.
CMG Key Financial Metrics
| Metric | Value |
|---|---|
| Market Cap | $43.71B |
| P/E Ratio | 28.46 |
| EPS | $1.14 |
| P/B Ratio | 15.44 |
| P/S Ratio | 3.67 |
| EV/EBITDA | 20.12 |
| Profit Margin | 12.9% |
| Return on Equity | 54.3% |
| Debt/Equity | 1.79 |
CMG Revenue & Earnings History
| Year | Revenue | Net Income |
|---|---|---|
| FY19 | $5.59B | $350.16M |
| FY20 | $5.98B | $355.77M |
| FY21 | $7.55B | $652.98M |
| FY22 | $8.63B | $899.10M |
| FY23 | $9.87B | $1.23B |
| FY24 | $11.31B | $1.53B |
| FY25 | $11.93B | $1.54B |
Chipotle Mexican Grill (CMG) Valuation
Based on GoodMoat's DCF model, Chipotle Mexican Grill has a fair value estimate of $33.66. At the current price of $33.06, the stock appears 1.8% undervalued relative to our intrinsic value estimate.
CMG Quality Indicators
Chipotle Mexican Grill maintains a profit margin of 12.9% and an operating margin of 16.2%. Return on equity stands at 54.3%. The current ratio is 1.23. Debt-to-equity ratio is 1.79.
About Chipotle Mexican Grill
Chipotle Mexican Grill, Inc. is cultivating a better world by serving responsibly sourced, classically cooked, real food with wholesome ingredients and without artificial colors, flavors or preservatives. There are over 4,000 restaurants as of December 31, 2025, in the United States, Canada, the United Kingdom, France, Germany, and the Middle East, and it is the only restaurant company of its size that owns and operates all its restaurants in North America and Europe. With over 130,000 employees passionate about providing a great guest experience, Chipotle is a longtime leader and innovator in the food industry. Chipotle is committed to making its food more accessible to everyone while continuing to be a brand with a demonstrated purpose as it leads the way in digital, technology and sustainable business practices.
CMG Free Cash Flow
Chipotle Mexican Grill generated $1.45B in trailing twelve-month free cash flow, representing an FCF yield of 3.31%. This moderate FCF yield indicates reasonable cash generation.
CMG Shares Outstanding
Chipotle Mexican Grill has 1.32 billion shares outstanding at a share price of $33.06, giving it a market capitalization of $43.71B.
CMG Recent Insider Trades
Recent insider transactions at Chipotle Mexican Grill include:
| Insider | Type | Shares | Value |
|---|---|---|---|
| FILIKRUSHEL PATRICIA | SELL | 3,350 | $122543.00 |
| Garner Curtis E (Pres, Chief Strgy & Tech Off) | SELL | 61,077 | $2.44M |