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Chipotle Mexican Grill CMG Chipotle Rewards — Revenue deferred

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Other financials

Income statement

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Revenue$3.1B+7.4%
Operating income$397.1M-17.1%
Net income$302.8M-21.7%
EPS (diluted)$0.23-17.9%

Balance sheet

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Cash & equivalents$282.3M-62.7%
Total debt$5.2B+13.2%
Total equity$2.4B-31.0%
Total assets$8.8B-2.7%

Cash flow

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Operating cash flow$651.4M+16.9%
CapEx$180.3M+24.5%
Free cash flow$471.0M+14.3%

Valuation

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Market cap$42.77B-41.9%
Enterprise value$47.73B-38.4%
P/E29.5×-18.3×
P/S3.5×-2.8×

Profitability

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Operating margin15.3%-1.7pp
Net margin12%-1.6pp
FCF margin12.4%-0.5pp

Returns & leverage

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Return on equity49.2%+3.7pp
Debt / equity2.2×+0.9×
Current ratio0.9×-0.6×

Where this comes from

Reported directly by Chipotle Mexican Grill in its filing.

Tagged under the XBRL concept cmg:ContractWithCustomerLiabilityRevenueDeferred.

The official record: Chipotle Mexican Grill’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Chipotle Mexican Grill's chipotle rewards — revenue deferred?
Chipotle Mexican Grill (CMG) reported chipotle rewards — revenue deferred of $50.13M in Q1 2026.
How has Chipotle Mexican Grill's chipotle rewards — revenue deferred changed year-over-year?
Chipotle Mexican Grill's chipotle rewards — revenue deferred increased by 20.6% year-over-year, from $41.57M to $50.13M.
What is the long-term trend for Chipotle Mexican Grill's chipotle rewards — revenue deferred?
Over 4 years (2021 to 2025), Chipotle Mexican Grill's chipotle rewards — revenue deferred has grown at a 14.5% compound annual growth rate (CAGR), from $106.76M to $183.62M.
What does chipotle rewards — revenue deferred mean?
This metric tracks the portion of transaction revenue allocated to loyalty program obligations that is held as a liability until the customer redeems their earned rewards. It represents the accounting deferral of revenue associated with the estimated fair value of the loyalty points issued. This is a critical measure for understanding the timing of revenue recognition relative to the underlying customer transactions.