Chipotle Mexican Grill (CMG) FY2025 10-K Annual Report
Chipotle Mexican Grill (CMG) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 4, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Chipotle Mexican Grill FY2025 10-K Analysis
Business Overview
- • Core business model: Company-owned and partner-operated fast-casual restaurants serving responsibly sourced, real food with a focus on operational and culinary excellence
- • New emphasis on AI-driven technology integration and relaunch of Rewards Program to modernize guest and team experience
- • Strategic focus on expanding global reach with intentional scaling in company-owned and partner markets, plus new strategic regions
- • Employee count grew to 130,301 with 23,000 promotions in 2025, internal leadership advancement above 82% in Field Leadership roles
- • Digital sales rose to 36.7% of revenue in 2025 from 35.1% in 2024, driven by app enhancements and increased Chipotlane drive-thru locations
Management Discussion & Analysis
- • No revenue or YoY change disclosed in this MD&A section
- • No profitability or margin data provided
- • No segment performance details included
- • No cash flow, buybacks, dividends, or capex information reported
- • Management highlights increased competition from multiple restaurant formats and food delivery services as key ongoing risk
Risk Factors
- • Tariffs enacted 2025 increase food, beverage, and packaging costs by 15 basis points ongoing, impacting primarily beef and chicken prices
- • 334 new restaurants opened in 2025, with 257 including Chipotlane; 80% of 2026 openings expected to feature Chipotlane, increasing operational complexity
- • Digital sales constitute 36.7% of food and beverage revenue, exposing business to e-commerce platform disruptions and digital competition
- • Comparable restaurant sales decreased 1.7% in 2025 due to a 2.9% transaction decline, partially offset by 1.2% average check increase
- • $500 million undrawn revolving credit line available as of December 31, 2025; total capital expenditures expected at $834.1 million in 2026
Chipotle Mexican Grill FY2025 Key Financial MetricsXBRL
Revenue
$11.9B
▲ +5.4% YoY
Net Income
$1.5B
▲ +0.1% YoY
Operating Margin
16.2%
▼ -71bp YoY
Net Margin
12.9%
▼ -68bp YoY
ROE
54.3%
▲ +1229bp YoY
Total Assets
$9.0B
▼ -2.3% YoY
EPS (Diluted)
$1.14
▲ +2.7% YoY
Operating Cash Flow
$2.1B
▲ +0.4% YoY
Source: XBRL data from Chipotle Mexican Grill FY2025 10-K filing on SEC EDGAR. All figures in USD.
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