Short answer
Chipotle Mexican Grill (CMG) filed its fiscal 2025 10-K annual report with the SEC on Feb 4, 2026. It reported revenue of $11.9B (+5.4% year over year) and net income of $1.5B.
- Top risk flagged: Tariffs enacted 2025 increase food, beverage, and packaging costs by 15 basis points ongoing, impacting primarily beef and chicken prices
FY2025 key financial metrics · XBRL
- Revenue
- $11.9B
- +5.4% YoY
- Net income
- $1.5B
- +0.1% YoY
- Operating margin
- 16.2%
- −0.7 pp YoY
- EPS (diluted)
- $1.14
- +2.7% YoY
- ROE
- 54.3%
- +12.3 pp YoY
- Operating cash flow
- $2.1B
- +0.4% YoY
Source: XBRL data from the Chipotle Mexican Grill (CMG) FY2025 10-K on SEC EDGAR. USD.
Chipotle Mexican Grill FY2025 10-K analysis
AI summary of each section, grounded in the filing text
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 profitability or margin data provided
- 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
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