Chipotle Mexican Grill (CMG) financial statements: income statement, balance sheet and cash flow

Chipotle Mexican Grill's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Chipotle Mexican Grill reported revenue of $11.9B (+5.4% year on year) and net income of $1.5B (+0.1% year on year).

Income statement

Chipotle Mexican Grill income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Total revenue	$11.9B	$11.3B	$9.9B	$8.6B
Food, beverage and packaging	$3.5B	$3.4B	$2.9B	$2.6B
Labor	$3.0B	$2.8B	$2.4B	$2.2B
Occupancy	$624.9M	$563.4M	$503.3M	$460.4M
Other operating costs	$1.8B	$1.6B	$1.4B	$1.3B
General and administrative expenses	$652.0M	$697.5M	$633.6M	$564.2M
Depreciation and amortization	$361.4M	$335.0M	$319.4M	$286.8M
Pre-opening costs	$49.5M	$41.9M	$36.9M	$29.6M
Impairment, closure costs, and asset disposals	$27.5M	$26.9M	$38.4M	$21.1M
Total operating expenses	$10.0B	$9.4B	$8.3B	$7.5B
Income from operations	$1.9B	$1.9B	$1.6B	$1.2B
Interest and other income, net	$73.7M	$93.9M	$62.7M	$21.1M
Income before income taxes	$2.0B	$2.0B	$1.6B	$1.2B
Provision for income taxes	$473.8M	$476.1M	($391.8M)	($282.4M)
Net income	$1.5B	$1.5B	$1.2B	$899.1M
Basic (in usd per share)	$1.15	$1.12	$44.59	$32.28
Diluted (in usd per share)	$1.14	$1.11	$44.34	$32.04
Basic (in shares)	1.3B	1.4B	27.6M	27.9M
Diluted (in shares)	1.3B	1.4B	27.7M	28.1M
Foreign currency translation adjustments	$3.0M	($3.6M)	$1.2M	($2.5M)
Comprehensive income	$1.5B	$1.5B	$1.2B	$896.6M

Chipotle Mexican Grill income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Total revenue	$3.3B	$3.1B	$3.0B	$3.1B
Food, beverage and packaging	$993.6M	$913.3M	$902.4M	$886.0M
Labor	$836.5M	$805.4M	$756.7M	$756.3M
Occupancy	$174.2M	$169.9M	$158.3M	$154.3M
Other operating costs	$499.8M	$480.6M	$450.4M	$428.7M
General and administrative expenses	$190.5M	$203.7M	$146.7M	$172.2M
Depreciation and amortization	$98.3M	$96.7M	$90.5M	$90.9M
Pre-opening costs	$16.4M	$11.6M	$13.7M	$10.6M
Impairment, closure costs, and asset disposals	$13.8M	$9.8M	$7.4M	$5.5M
Total operating expenses	$2.8B	$2.7B	$2.5B	$2.5B
Income from operations	$525.6M	$397.1M	$477.2M	$559.1M
Interest and other income, net	$7.7M	$8.7M	$19.8M	$18.4M
Income before income taxes	$533.3M	$405.8M	$497.0M	$577.4M
Provision for income taxes	$129.7M	$103.0M	$114.9M	$141.3M
Net income	$403.5M	$302.8M	$382.1M	$436.1M
Basic (in usd per share)	$0.32	$0.23	$0.29	$0.32
Diluted (in usd per share)	$0.32	$0.23	$0.29	$0.32
Basic (in shares)	1.3B	1.3B	1.3B	1.3B
Diluted (in shares)	1.3B	1.3B	1.3B	1.4B
Foreign currency translation adjustments	($1.2M)	($724.0K)	($586.0K)	$2.5M
Comprehensive income	$402.3M	$302.1M	$381.5M	$438.6M

Balance sheet

Chipotle Mexican Grill balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$350.5M	$748.5M	$560.6M	$384.0M
Accounts receivable, net	$156.5M	$144.0M	$115.5M	$106.9M
Inventory	$49.5M	$48.9M	$39.3M	$35.7M
Prepaid expenses and other current assets	$120.5M	$97.5M	$117.5M	$86.4M
Income tax receivable	$91.4M	$67.2M	$53.0M	$47.7M
Investments	$698.6M	$674.4M	$734.8M	$515.1M
Total current assets	$1.5B	$1.8B	$1.6B	$1.2B
Leasehold improvements, property and equipment, net	$2.7B	$2.4B	$2.2B	$2.0B
Long-term investments	$197.1M	$868.0M	$564.5M	$388.1M
Restricted cash	$35.4M	$29.8M	$25.6M	$25.0M
Operating lease assets	$4.5B	$4.0B	$3.6B	$3.3B
Other assets	$130.8M	$113.7M	$63.1M	$63.2M
Goodwill	$21.9M	$21.9M	$21.9M	$21.9M
Total assets	$9.0B	$9.2B	$8.0B	$6.9B
Accounts payable	$212.8M	$210.7M	$197.6M	$184.6M
Accrued payroll and benefits	$250.1M	$261.9M	$227.5M	$170.5M
Accrued liabilities	$182.4M	$179.7M	$147.7M	$147.5M
Unearned revenue	$240.4M	$238.6M	$209.7M	$183.1M
Current operating lease liabilities	$302.4M	$277.8M	$248.1M	$236.2M
Total current liabilities	$1.2B	$1.2B	$1.0B	$921.9M
Long-term operating lease liabilities	$4.8B	$4.3B	$3.8B	$3.5B
Deferred income tax liabilities	$125.7M	$46.2M	$89.1M	$98.6M
Other liabilities	$76.7M	$71.1M	$58.9M	$43.8M
Total liabilities	$6.2B	$5.5B	$5.0B	$4.6B
Common stock, $0.01 par value, 11,500,000 shares authorized, 1,304,360 and 1,358,751 shares issued as of December 31, 2025 and 2024, respectively	13.0M	13.6M	375.0K	373.0K
Additional paid-in capital	$2.2B	$2.1B	$2.0B	$1.8B
Accumulated other comprehensive loss	($7.3M)	($10.3M)	($6.7M)	($7.9M)
Retained earnings	$619.9M	$1.6B	$6.1B	$4.8B
Total shareholders' equity	$2.8B	$3.7B	$3.1B	$2.4B
Total liabilities and shareholders' equity	$9.0B	$9.2B	$8.0B	$6.9B

Chipotle Mexican Grill balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents	$228.2M	$246.6M	$698.7M	$844.5M
Accounts receivable, net	$100.3M	$94.9M	$95.8M	$105.0M
Inventory	$46.6M	$44.7M	$46.4M	$40.4M
Prepaid expenses and other current assets	$116.0M	$126.3M	$100.5M	$96.5M
Income tax receivable	$0	$0	$109.7M	$80.7M
Investments	$449.7M	$624.8M	$722.5M	$702.0M
Total current assets	$940.7M	$1.1B	$1.8B	$1.9B
Leasehold improvements, property and equipment, net	$2.9B	$2.8B	$2.6B	$2.5B
Long-term investments	$97.1M	$96.4M	$347.7M	$518.7M
Restricted cash	$35.6M	$35.7M	$30.9M	$30.7M
Operating lease assets	$4.8B	$4.6B	$4.4B	$4.2B
Other assets	$134.0M	$129.9M	$128.4M	$120.9M
Goodwill	$21.9M	$21.9M	$21.9M	$21.9M
Total assets	$8.9B	$8.8B	$9.3B	$9.3B
Accounts payable	$255.1M	$247.3M	$260.2M	$216.3M
Accrued payroll and benefits	$284.6M	$192.5M	$193.2M	$236.9M
Accrued liabilities	$219.0M	$231.3M	$197.0M	$185.1M
Unearned revenue	$218.8M	$207.4M	$206.7M	$206.6M
Current operating lease liabilities	$317.0M	$310.2M	$293.0M	$287.3M
Income tax payable	$20.5M	$48.7M	—	—
Total current liabilities	$1.3B	$1.2B	$1.2B	$1.1B
Long-term operating lease liabilities	$5.1B	$4.9B	$4.7B	$4.5B
Deferred income tax liabilities	$163.5M	$143.6M	$140.5M	$36.3M
Other liabilities	$84.0M	$78.9M	$82.4M	$78.7M
Total liabilities	$6.7B	$6.4B	$6.1B	$5.7B
Common stock, $0.01 par value, 11,500,000 shares authorized, 1,267,838 and 1,304,360 shares issued as of June 30, 2026 and December 31, 2025, respectively	12.7M	12.9M	13.3M	13.4M
Additional paid-in capital	$2.3B	$2.2B	$2.2B	$2.2B
Accumulated other comprehensive loss	($9.2M)	($8.0M)	($7.9M)	($7.3M)
Retained earnings/(accumulated deficit)	($67.2M)	$167.7M	$1.0B	$1.4B
Total shareholders' equity	$2.2B	$2.4B	$3.2B	$3.5B
Total liabilities and shareholders' equity	$8.9B	$8.8B	$9.3B	$9.3B

Cash flow statement

Chipotle Mexican Grill cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$1.5B	$1.5B	$1.2B	$899.1M
Depreciation and amortization	$361.4M	$335.0M	$319.4M	$286.8M
Deferred income tax provision	$79.5M	($42.9M)	($9.5M)	($43.2M)
Impairment, closure costs, and asset disposals	$26.6M	$24.6M	$37.0M	$20.7M
Provision for credit losses	($657.0K)	$215.0K	$1.6M	($760.0K)
Stock-based compensation expense	$119.5M	$131.7M	$124.0M	$98.0M
Other	($14.7M)	($3.5M)	($13.1M)	($16.2M)
Accounts receivable	($11.4M)	($29.3M)	($11.2M)	($14.0M)
Inventory	($710.0K)	($9.8M)	($3.6M)	($3.0M)
Prepaid expenses and other current assets	($33.0M)	$9.2M	($39.2M)	($14.7M)
Operating lease assets	$332.7M	$285.6M	$254.2M	$234.3M
Other assets	($5.2M)	($17.7M)	$4.2M	($346.0K)
Accounts payable	($7.4M)	$8.5M	$5.3M	$18.2M
Accrued payroll and benefits	($12.1M)	$34.9M	$57.0M	$9.9M
Accrued liabilities	($10.5M)	$27.3M	$3.2M	($28.0M)
Unearned revenue	$40.7M	$46.1M	$35.7M	$33.4M
Income tax payable/receivable	($24.1M)	($14.4M)	($5.2M)	$46.3M
Operating lease liabilities	($258.2M)	($217.9M)	($214.5M)	($207.2M)
Other long-term liabilities	($4.2M)	$3.3M	$9.4M	$3.9M
Net cash provided by operating activities	$2.1B	$2.1B	$1.8B	$1.3B
Purchases of leasehold improvements, property and equipment	($666.3M)	($593.6M)	($560.7M)	($479.2M)
Purchases of investments	($28.2M)	($986.7M)	($1.1B)	($614.4M)
Maturities of investments	$659.5M	$722.6M	$729.9M	$263.5M
Proceeds from sale of equipment	$0	$20.1M	$0	$0
Net cash used in investing activities	($35.1M)	($837.5M)	($946.0M)	($830.0M)
Repurchase of common stock	($2.4B)	($1.0B)	($592.3M)	($830.1M)
Tax withholding on stock-based compensation awards	($49.5M)	($74.2M)	($69.1M)	($99.0M)
Other financing activities	$4.1M	$2.1M	$843.0K	($294.0K)
Net cash used in financing activities	($2.5B)	($1.1B)	($660.7M)	($929.4M)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	($416.0K)	($1.6M)	$381.0K	($1.0M)
Net change in cash, cash equivalents, and restricted cash	($392.5M)	$192.2M	$177.2M	($437.3M)
Cash, cash equivalents, and restricted cash at beginning of year	$778.4M	$586.2M	$409.0M	$846.2M
Cash, cash equivalents, and restricted cash at end of year	$385.9M	$778.4M	$586.2M	$409.0M
Income taxes paid	$423.5M	$532.9M	$400.2M	$275.8M
Purchases of leasehold improvements, property and equipment accrued in accounts payable and accrued liabilities	$89.4M	$82.6M	$76.4M	$72.0M
Repurchase of common stock accrued in accounts payable and accrued liabilities	$23.0M	$7.3M	—	—

Chipotle Mexican Grill cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income	$706.4M	$302.8M	$1.2B	$822.7M
Depreciation and amortization	$195.0M	$96.7M	$268.7M	$178.2M
Deferred income tax provision	$37.8M	$17.9M	$94.3M	($9.9M)
Impairment, closure costs, and asset disposals	$23.0M	$9.7M	$18.3M	$11.1M
Provision for credit losses	($335.0K)	($454.0K)	($1.6M)	($1.2M)
Stock-based compensation expense	$54.5M	$28.0M	$94.0M	$75.2M
Other	$906.0K	$578.0K	$7.6M	$7.6M
Accounts receivable	$54.6M	$59.8M	$50.0M	$39.9M
Inventory	$2.8M	$4.7M	$2.4M	$8.5M
Prepaid expenses and other current assets	($1.8M)	($9.4M)	($9.5M)	($3.6M)
Operating lease assets	$164.1M	$79.8M	$235.6M	$151.0M
Other assets	$3.4M	$1.8M	($4.5M)	($362.0K)
Accounts payable	$37.1M	$22.7M	$29.3M	$12.4M
Accrued payroll and benefits	$36.4M	($55.4M)	($68.9M)	($24.7M)
Accrued liabilities	$45.3M	$42.0M	$10.3M	$2.1M
Unearned revenue	($12.7M)	($27.7M)	($23.5M)	($25.6M)
Income tax payable/receivable	$111.9M	$140.0M	($42.4M)	($13.4M)
Operating lease liabilities	($127.9M)	($63.0M)	($179.5M)	($113.5M)
Other long-term liabilities	$1.5M	$806.0K	$2.7M	$2.0M
Net cash provided by operating activities	$1.3B	$651.4M	$1.7B	$1.1B
Purchases of leasehold improvements, property and equipment	($397.6M)	($180.3M)	($468.9M)	($305.4M)
Purchases of investments	($5.5M)	($250.0K)	($15.7M)	($6.5M)
Maturities of investments	$349.8M	$172.5M	$477.3M	$320.0M
Net cash (used in)/provided by investing activities	($53.4M)	($8.1M)	($7.3M)	$8.1M
Repurchase of common stock	($1.4B)	($701.0M)	($1.7B)	($997.1M)
Tax withholding on stock-based compensation awards	($49.4M)	($48.0M)	($48.6M)	($33.3M)
Other financing activities	$2.8M	$1.5M	$3.0M	$1.5M
Net cash used in financing activities	($1.4B)	($747.5M)	($1.7B)	($1.0B)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	$700.0K	$602.0K	($187.0K)	($786.0K)
Net change in cash, cash equivalents, and restricted cash	($122.2M)	($103.6M)	($48.7M)	$96.8M
Cash, cash equivalents, and restricted cash at beginning of period	$385.9M	$385.9M	$778.4M	$778.4M
Cash, cash equivalents, and restricted cash at end of period	$263.8M	$282.3M	$729.6M	$875.2M
Income taxes paid	$82.7M	($55.1M)	$319.0M	$279.3M
Purchases of leasehold improvements, property and equipment accrued in accounts payable and accrued liabilities	$97.0M	$102.6M	$101.5M	$75.6M
Repurchase of common stock accrued in accounts payable and accrued liabilities	$12.5M	$29.2M	$15.7M	$9.0M

Chipotle Mexican Grill score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.