Income StatementBalance SheetCash FlowSegments
Chipotle Mexican Grill logo

Chipotle Mexican Grill Business Segments

Business, geographic, and product segment breakdowns

Chipotle Mexican Grill generates $11.9B in annual revenue across 1 key segments: Business Segments ($11.7B). The company-wide operating margin is 16.23%. Based on the Q4 2025 filing.

Business Segments (TTM)$11.7B
Latest FilingQ4 2025
Report Date2026-02-04
Market Cap$41.2B
P/E Ratio26.82
ROE47.36%

Products & Services

Number of restaurants

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Chipotle3540.003644.003697.003750.003822.003938.00

Contract With Customer, Liability, Revenue Recognized, Excluding Opening Balance

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Chipotle Rewards$39.5M——$42.2M$48.4M—

Revenue deferred

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Chipotle Rewards$39.8M$45.0M$41.6M$45.7M$50.3M$46.1M

Unearned revenue

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Gift card liability$130.8M$181.8M$145.4M$144.8M$141.0M$174.6M

Total Revenue

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Food and beverage revenue$2.8B$2.8B$2.9B$3.0B$3.0B$3.0B
Delivery service revenue$15.5M$15.3M$15.4M$15.6M$14.2M$14.3M

Breakage revenue

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Gift card liability$1.9M$1.9M$7.0M$7.0M$7.0M$7.0M

Revenue recognized from gift card liability balance at the beginning of the year

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Gift card liability$6.9M$16.0M$53.0M$14.6M$8.2M$32.9M

Geographic

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Long-Lived Assets—$142.8M———$207.8M

Business Segments

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Total Revenue$2.7B$2.8B$2.8B$3.0B$2.9B$2.9B
Food, beverage and packaging$836.0M$846.3M$818.5M$862.0M$877.4M$875.8M
Labor$684.6M$703.9M$705.3M$741.2M$740.8M$744.2M
Operating Income (Loss)$609.2M$608.1M$653.1M$728.2M$623.6M$582.7M
Other operating costs$320.0M$318.6M$321.3M$336.7M$351.1M$349.2M
Occupancy$138.9M$142.5M$146.0M$150.0M$153.5M$157.5M
Marketing$58.3M$84.9M$85.9M$83.0M$89.6M$102.8M
D&A$76.0M$76.4M$79.5M$82.7M$82.4M$83.9M
Other segment items$18.4M$11.0M$12.9M$16.6M$19.1M$23.0M