Common-Size Balance Sheet: Assets
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Chipotle Mexican Grill Inc. pages available for free this week:
- Income Statement
- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Selected Financial Data since 2005
- Return on Equity (ROE) since 2005
- Price to Book Value (P/BV) since 2005
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Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
- Cash and Cash Equivalents
- There was an initial increase from 10.16% in 2020 to 12.26% in 2021, followed by a sharp decline to 5.54% in 2022. Subsequently, the proportion recovered moderately to 6.97% in 2023 and further to 8.13% by 2024, indicating a fluctuating but recovering liquidity position relative to total assets.
- Accounts Receivable, Net
- The percentage of total assets accounted for by accounts receivable remained relatively stable across the analyzed years, with a slight decline from 1.75% in 2020 to 1.5% in 2021, then minor fluctuations around 1.5% through 2024, suggesting consistent credit management practices.
- Inventory
- This component saw a gradual increase over time, moving from 0.44% in 2020 to 0.53% in 2024. The trend implies a modest buildup or slightly greater proportion of inventory relative to total assets.
- Prepaid Expenses and Other Current Assets
- The category of prepaid expenses showed data only from 2022 onwards, increasing from 1% to 1.21% by 2023, then decreasing to 0.87% in 2024. When combined with other current assets, the total rose from 0.92% in 2020 up to 1.46% in 2023 before declining to 1.06% in 2024, indicating some variability and possible management of short-term asset allocation.
- Income Tax Receivable
- This item declined sharply from 4.73% in 2020 to 1.41% in 2021 and continued to decrease gradually, stabilizing around 0.7% from 2022 to 2024. The decreasing trend may reflect changes in tax positioning or timing of tax refunds.
- Current Investments
- Current investments as a share of total assets showed variability: a decline from 5.74% in 2020 to 3.92% in 2021, then a peak increase to 9.13% in 2023, followed by a reduction to 7.33% in 2024. This pattern indicates an active and possibly opportunistic investment strategy with short-term assets.
- Current Assets
- The proportion of current assets to total assets decreased from 23.74% in 2020 to 16.97% in 2022, then increased again to 20.15% in 2023, before a slight decline to 19.35% in 2024. This suggests a relative fluctuation in liquidity or working capital elements over the years.
- Leasehold Improvements, Property and Equipment, Net
- This asset category represented a stable but slightly declining proportion of total assets, peaking at 28.17% in 2022 and decreasing to 25.97% by 2024, indicating moderate changes in fixed asset holdings or depreciation effects.
- Long-term Investments
- A clear upward trend is observed, with long-term investments growing steadily from 1.71% in 2020 to 9.43% by 2024, reflecting increasing allocation toward long-term investment opportunities or strategic financial positioning.
- Restricted Cash
- This category remained relatively stable and low throughout the period, declining slightly from 0.47% in 2020 to 0.32% by 2023 and remaining there in 2024, indicating minimal changes in restricted liquidity.
- Operating Lease Assets
- Operating lease assets held a dominant share of total assets, with values around 46% in 2020 and 2021, peaking at 47.67% in 2022, then decreasing steadily to 43.46% by 2024. This shows a slight decrease in lease-related assets relative to the company's total asset base.
- Other Assets
- Other assets stayed generally below 1% until a rise to 1.24% in 2024, after a period of relative stability, indicating a small but notable increase in miscellaneous or non-classified asset categories.
- Goodwill
- Goodwill continuously declined from 0.37% in 2020 to 0.24% in 2024, suggesting asset write-downs or impairments, or a change in acquisition strategy over time.
- Long-term Assets
- Long-term assets as a percentage of total assets increased steadily from 76.26% in 2020 to a peak of 83.03% in 2022, then declined somewhat to 80.65% by 2024, reflecting an overall emphasis on long-term investment but with some recent reduction in proportion.
- Total Assets
- The total assets represent 100% consistently, confirming that the proportions discussed are relative changes within the company's asset structure.