Chipotle Mexican Grill income statement
In fiscal 2025, Chipotle Mexican Grill reported revenue of $11.93bn, up 5.4% on the year before, operating income of $1.94bn (a 16.2% margin) and net income of $1.54bn, or $1.14 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 3.9 | 4.5 | 4.9 | 5.6 | 6.0 | 7.5 | 8.6 | 9.9 | 11.3 | 11.9 | 12.7 |
| General and administrative | 0.3 | 0.3 | 0.4 | 0.5 | 0.5 | 0.6 | 0.6 | 0.6 | 0.7 | 0.7 | 0.7 |
| Operating income | 0.0 | 0.3 | 0.3 | 0.4 | 0.3 | 0.8 | 1.2 | 1.6 | 1.9 | 1.9 | 1.8 |
| Income before tax | 0.0 | 0.3 | 0.3 | 0.5 | 0.3 | 0.8 | 1.2 | 1.6 | 2.0 | 2.0 | 1.8 |
| Income tax | 0.0 | 0.1 | −0.1 | 0.1 | −0.1 | 0.2 | 0.3 | 0.4 | 0.5 | 0.5 | 0.5 |
| Net income | 0.0 | 0.2 | 0.2 | 0.4 | 0.4 | 0.7 | 0.9 | 1.2 | 1.5 | 1.5 | 1.4 |
| Diluted EPS | $0.02 | $0.12 | $0.13 | $0.25 | $0.25 | $0.46 | $0.64 | $0.89 | $1.11 | $1.14 | $1.07 |
| Diluted shares (average) | 1,489m | 1,428m | 1,398m | 1,415m | 1,421m | 1,426m | 1,403m | 1,386m | 1,377m | 1,343m | 1,292m |
| EBITDA | 0.2 | 0.4 | 0.5 | 0.7 | 0.5 | 1.1 | 1.4 | 1.9 | 2.3 | 2.3 | 2.2 |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,845 | 2,875 | 3,063 | 3,003 | 2,984 | 3,088 | 3,349 | 3,293 |
| General and administrative | 191 | 173 | 172 | 147 | 160 | 204 | 190 | 185 |
| Operating income | 416 | 479 | 559 | 477 | 420 | 397 | 526 | 452 |
| Income before tax | 439 | 502 | 577 | 497 | 434 | 406 | 533 | 457 |
| Income tax | 107 | 115 | 141 | 115 | 103 | 103 | 130 | 117 |
| Net income | 332 | 387 | 436 | 382 | 331 | 303 | 404 | 340 |
| Diluted EPS | $0.24 | $0.28 | $0.32 | $0.29 | $0.25 | $0.23 | $0.32 | $0.27 |
| EBITDA | 500 | 566 | 650 | 568 | 513 | 494 | 624 | 555 |
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