Chipotle Mexican Grill (CMG) stock
Consumer Discretionary · Restaurants
Chipotle Mexican Grill (CMG) is a Restaurants company in the Consumer Discretionary sector, headquartered in Newport Beach, California. As of October 23, 2026, CMG closed at $27.52, a market capitalization of $34.82 billion, the 296th largest company in the S&P 500. The stock trades at 25.7x trailing earnings and 20.2x forward earnings.
- 1-year total return: -34.2% (dividends reinvested)
- 5-year return: -5.1% a year
- 52-week range: $27.31 – $41.52
- FI Handbook report card: B+ across 4 metrics
- 26th largest of 47 Consumer Discretionary stocks in the S&P 500
CMG price chart
1Y price change: -34.2% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| CMG | -15.9% | -25.6% | -34.2% | -8.9% | -5.1% | +12.8% | +18.1% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 2006.
CMG key statistics
- Market cap
- $34.8B
- #296 in S&P 500
- P/E (TTM)
- 25.7x
- Forward P/E
- 20.2x
- EPS (TTM)
- —
- Revenue (TTM)
- —
- Free cash flow
- $1.6B
- Gross margin
- —
- Operating margin
- —
- Return on equity
- —
- Dividend yield
- None
- 52-week range
- $27.31 – $41.52
- Beta
- —
- Price / sales
- —
- EV / EBITDA
- —
- Debt / equity
- —
- Employees
- —
CMG report card
B+Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth——
- Gross margin——
- Operating margin——
- FCF margin——
- Return on equity——
- Net debt / EBITDA0.0xA
- Forward P/E20.2xC
- PEG ratio——
- Shareholder yield7.0%A
- Share count change / yr-1.1%B
Chipotle Mexican Grill financials
Revenue went from $3.9B in fiscal 2016 to $11.9B in fiscal 2025, growing 13.2% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.9B | $4.5B | $4.9B | $5.6B | $6.0B | $7.5B | $8.6B | $9.9B | $11.3B | $11.9B |
| Operating income | $34.6M | $270.8M | $258.4M | $444.0M | $290.2M | $804.9M | $1.2B | $1.6B | $1.9B | $1.9B |
| Net income | $22.9M | $176.3M | $176.6M | $350.2M | $355.8M | $653.0M | $899.1M | $1.2B | $1.5B | $1.5B |
| EPS (diluted) | $0.02 | $0.12 | $0.13 | $0.25 | $0.25 | $0.46 | $0.64 | $0.89 | $1.11 | $1.14 |
| Free cash flow | $96.3M | $251.4M | $334.2M | $387.7M | $290.5M | $839.6M | $844.0M | $1.2B | $1.5B | $1.4B |
| Buybacks | $836.8M | $285.2M | $160.9M | $190.6M | $54.4M | $466.5M | $830.1M | $592.3M | $1.0B | $2.4B |
| Diluted shares | 1.5B | 1.4B | 1.4B | 1.4B | 1.4B | 1.4B | 1.4B | 1.4B | 1.4B | 1.3B |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into CMG?
A reverse DCF asks what growth the current price requires. With an enterprise value of $34.8B and $1.6B of trailing free cash flow, Chipotle Mexican Grill needs to grow free cash flow about 13.2% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 37.9% a year over the last five years.
P/E ratio history
Current 24.1x vs. median 70.7x (10th–90th percentile 34.3x–252.6x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
CMG analyst price targets
35 analysts' average 12-month target is $41.97 (+52% vs. $27.52). Targets range from $32.00 to $53.00. 66% rate it a buy.
CMG earnings
Next report: October 28, 2026. Chipotle Mexican Grill has beaten EPS estimates 8 quarters in a row. Last quarter's revenue was $3.3B (+9% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 29, 2026 | $0.32 | $0.33 | +4.0% |
| Apr 29, 2026 | $0.24 | $0.24 | +1.4% |
| Feb 3, 2026 | $0.24 | $0.25 | +4.9% |
| Oct 29, 2025 | $0.29 | $0.29 | +0.9% |
| Jul 23, 2025 | $0.33 | $0.33 | +1.3% |
| Apr 23, 2025 | $0.28 | $0.29 | +4.7% |
| Feb 4, 2025 | $0.25 | $0.25 | +1.4% |
| Oct 29, 2024 | $0.25 | $0.27 | +6.6% |
Stocks like CMG
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 MCD McDonald's | -1.65% | -17% | $175.8B | 20.2x | Compare |
 SBUX Starbucks | -1.09% | +21% | $114.9B | 58.3x | Compare |
 YUM Yum! Brands | -3.08% | +4% | $40.9B | 18.9x | Compare |
 DRI Darden Restaurants | -2.37% | +18% | $24.0B | 20.6x | Compare |
 DPZ Domino's Pizza | -1.29% | -24% | $10.3B | 17.3x | Compare |
 AMZN Amazon.com | -0.95% | +12% | $2.7T | 20.0x | Compare |
 TSLA Tesla | -0.63% | -17% | $1.5T | 409.0x | Compare |
 HD Home Depot | -2.41% | -15% | $319.1B | 21.5x | Compare |
CMG news
- “Not Buying”: Chipotle Just Dropped 16% in a Month. Is It Time to Sell, or Load Up? · Oct 25, 2026
- Why Chipotle Mexican Grill (CMG) Dipped More Than Broader Market Today · Oct 23, 2026
- Chipotle Gears Up for Q3 Earnings: Can It Overcome Cost Pressures? · Oct 23, 2026
- What Analyst Projections for Key Metrics Reveal About Chipotle (CMG) Q3 Earnings · Oct 23, 2026
- Chipotle’s Softening Sales Force Analyst to Throw in the Towel · Oct 23, 2026
CMG stock FAQ
What is CMG's market cap?
Chipotle Mexican Grill's market capitalization is $34.82 billion as of October 23, 2026, ranking 296th in the S&P 500.
What is CMG's P/E ratio?
CMG trades at a trailing price-to-earnings ratio of 25.7x and a forward P/E of 20.2x. Its median P/E over the period we track is 70.7x.
Does CMG pay a dividend?
No. Chipotle Mexican Grill does not currently pay a regular cash dividend.
How much has CMG stock returned?
Including reinvested dividends, CMG returned -34.2% over one year, -5.1% a year over five years, +12.8% a year over ten years through October 23, 2026.
Is CMG stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Chipotle Mexican Grill must grow free cash flow about 13% a year for the next decade. Its free cash flow grew 38% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the CMG price target?
35 analysts cover CMG with an average 12-month price target of $41.97, +52% from the current price. 66% of them rate it a buy.
When does CMG report earnings?
Chipotle Mexican Grill is expected to report earnings on October 28, 2026. It has beaten EPS estimates 8 quarters in a row.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology