Chipotle Mexican Grill (CMG) Research

Forward Estimates

EPS Estimates

Current Qtr

$0.32

$0.30$0.33

vs $0.33-3.6%

33 analysts

Next Qtr

$0.29

$0.27$0.32

vs $0.29-0.3%

33 analysts

Current Yr

$1.13

$1.07$1.21

vs $1.17-3.1%

36 analysts

Next Yr

$1.36

$1.23$1.47

vs $1.13+19.6%

36 analysts

Revenue Estimates

Current Qtr

$3.33B

$3.29B$3.40B

vs $3.06B+8.6%

30 analysts

Next Qtr

$3.27B

$3.21B$3.31B

vs $3.00B+8.8%

30 analysts

Current Yr

$12.98B

$12.76B$13.30B

vs $11.93B+8.9%

34 analysts

Next Yr

$14.38B

$14.05B$14.89B

vs $12.98B+10.8%

34 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for CMG on EDGAR.

CMG filing events and research context
Filed	Item	Context
Apr 30, 2026	mda_quarterly	First-quarter 2026 total revenue increased 7.4% to $3.1 billion, though diluted earnings per share declined 17.9% to $0.23. Comparable restaurant sales grew 0.5%, supported by a 0.6% increase in transactions, but management forecasts flat comparable sales for the full year. Digital sales now comprise 38.6% of food and beverage revenue. CMG expects to open 350 to 370 restaurants in 2026, including 10 to 15 international partner-operated sites, with approximately 80% of new company-owned locations featuring Chipotlanes. Profitability was pressured by rising expenses: food, beverage, and packaging costs rose to 29.6% of revenue, driven by beef and freight inflation. Labor costs increased to 26.1% of revenue due to wage inflation and legal proceedings, while other operating costs reached 15.6% amid higher marketing and delivery expenses. Key risks include anticipated tariffs affecting food and packaging costs starting in the second quarter of 2026, labor market competition, and international expansion risks in Mexico, Asia, and the Middle East. The company maintains $864.4 million in cash and marketable investments, with $1.0 billion remaining under its share repurchase authorization.
Feb 4, 2026	business	Chipotle operates 3,938 U.S. and 104 international restaurants, specializing in burritos, bowls, tacos, and salads. The company's "Recipe for Growth" strategy emphasizes operational excellence, menu innovation, and global expansion. A core competitive advantage is the "Food with Integrity" program, which mandates "Responsibly Raised" meats—free from non-therapeutic antibiotics and growth hormones—and sustainably grown produce. To mitigate supply chain risks and pricing volatility, Chipotle is diversifying its supplier base across multiple regional distribution centers. Digital integration is a primary growth driver, with digital sales accounting for 36.7% of food and beverage revenue in 2025, bolstered by the Chipotle app and "Chipotlanes" pickup formats. The company is further modernizing operations through AI, including the "Ava Cado" virtual scheduling assistant for talent acquisition. Human capital management focuses on internal mobility, with nearly 90% of in-restaurant leadership roles filled via internal promotions. Food safety is maintained through a dedicated Food Safety Advisory Council and advanced pathogen-reduction technologies to ensure compliance and brand protection. While subject to various federal and local regulations, the company reports that compliance costs have not had a material effect on its competitive position.
Feb 4, 2026	mda	Chipotle operates in the highly competitive fast-casual segment, facing pressure from national chains, ghost kitchens, and delivery aggregators. The company is pursuing an aggressive expansion goal of 7,000 restaurants across the U.S. and Canada, though this growth is tempered by construction inflation and a typical 36-month ramp-up period for new site profitability. Digital channels are critical to the business model, with third-party delivery comprising 16% of 2025 food and beverage revenue. Profitability is heavily influenced by the volatile costs of "Responsibly Raised" proteins and "Food with Integrity" produce, particularly beef, avocados, and dairy, as well as international tariffs on imports from Mexico, Canada, and China. Labor remains a significant cost driver, exacerbated by minimum wage increases and "fair workweek" legislation. Food safety is a primary operational risk due to the reliance on fresh, unprocessed ingredients and raw chicken. Additionally, the company is navigating sustainability mandates, targeting a 50% reduction in Scope 1, 2, and 3 emissions by 2030. Macroeconomic risks include fluctuations in consumer discretionary spending and the regulatory impact of the One Big Beautiful Bill Act of 2025.

Filed

Item

Context

Apr 30, 2026

mda_quarterly

First-quarter 2026 total revenue increased 7.4% to $3.1 billion, though diluted earnings per share declined 17.9% to $0.23. Comparable restaurant sales grew 0.5%, supported by a 0.6% increase in transactions, but management forecasts flat comparable sales for the full year. Digital sales now comprise 38.6% of food and beverage revenue. CMG expects to open 350 to 370 restaurants in 2026, including 10 to 15 international partner-operated sites, with approximately 80% of new company-owned locations featuring Chipotlanes. Profitability was pressured by rising expenses: food, beverage, and packaging costs rose to 29.6% of revenue, driven by beef and freight inflation. Labor costs increased to 26.1% of revenue due to wage inflation and legal proceedings, while other operating costs reached 15.6% amid higher marketing and delivery expenses. Key risks include anticipated tariffs affecting food and packaging costs starting in the second quarter of 2026, labor market competition, and international expansion risks in Mexico, Asia, and the Middle East. The company maintains $864.4 million in cash and marketable investments, with $1.0 billion remaining under its share repurchase authorization.

Feb 4, 2026

business

Chipotle operates 3,938 U.S. and 104 international restaurants, specializing in burritos, bowls, tacos, and salads. The company's "Recipe for Growth" strategy emphasizes operational excellence, menu innovation, and global expansion. A core competitive advantage is the "Food with Integrity" program, which mandates "Responsibly Raised" meats—free from non-therapeutic antibiotics and growth hormones—and sustainably grown produce. To mitigate supply chain risks and pricing volatility, Chipotle is diversifying its supplier base across multiple regional distribution centers. Digital integration is a primary growth driver, with digital sales accounting for 36.7% of food and beverage revenue in 2025, bolstered by the Chipotle app and "Chipotlanes" pickup formats. The company is further modernizing operations through AI, including the "Ava Cado" virtual scheduling assistant for talent acquisition. Human capital management focuses on internal mobility, with nearly 90% of in-restaurant leadership roles filled via internal promotions. Food safety is maintained through a dedicated Food Safety Advisory Council and advanced pathogen-reduction technologies to ensure compliance and brand protection. While subject to various federal and local regulations, the company reports that compliance costs have not had a material effect on its competitive position.

Feb 4, 2026

mda

Chipotle operates in the highly competitive fast-casual segment, facing pressure from national chains, ghost kitchens, and delivery aggregators. The company is pursuing an aggressive expansion goal of 7,000 restaurants across the U.S. and Canada, though this growth is tempered by construction inflation and a typical 36-month ramp-up period for new site profitability. Digital channels are critical to the business model, with third-party delivery comprising 16% of 2025 food and beverage revenue. Profitability is heavily influenced by the volatile costs of "Responsibly Raised" proteins and "Food with Integrity" produce, particularly beef, avocados, and dairy, as well as international tariffs on imports from Mexico, Canada, and China. Labor remains a significant cost driver, exacerbated by minimum wage increases and "fair workweek" legislation. Food safety is a primary operational risk due to the reliance on fresh, unprocessed ingredients and raw chicken. Additionally, the company is navigating sustainability mandates, targeting a 50% reduction in Scope 1, 2, and 3 emissions by 2030. Macroeconomic risks include fluctuations in consumer discretionary spending and the regulatory impact of the One Big Beautiful Bill Act of 2025.

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CMG filing events and research context

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