Common-Size Balance Sheet: Assets
Quarterly Data
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Chipotle Mexican Grill Inc. pages available for free this week:
- Income Statement
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Selected Financial Data since 2005
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Price to Book Value (P/BV) since 2005
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Chipotle Mexican Grill Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
The financial data reveals several notable trends and shifts in asset composition over the analyzed quarterly periods.
- Cash and cash equivalents
- This component as a percentage of total assets demonstrated a fluctuating pattern. Initially increasing from 9.61% in early 2020 to a peak of 12.26% at the end of 2020, it then generally declined during 2021 and 2022, reaching a low around 5.38% to 5.54%. From 2023 onwards, cash levels showed a recovering trend, climbing again to roughly 8% by early 2025.
- Accounts receivable, net
- Accounts receivable remained relatively stable with minor fluctuations, mostly hovering around 1% to 1.5% of total assets. Notably, there were small dips around mid-2023 and fluctuations toward higher values near the end of 2024 and early 2025, indicating moderate variability but no clear long-term trend.
- Inventory
- Inventory as a percentage of total assets was consistently low, generally between 0.4% and 0.55%. It showed mild increases and decreases throughout the periods but stayed relatively stable without significant swings.
- Prepaid expenses and other current assets
- This category presented a gradual increase from below 1% to peaks near 1.46% in late 2022, with some oscillations later but maintaining a higher level than in early 2020. This suggests a growing allocation to prepaid and similar assets over time.
- Income tax receivable
- There was notable volatility in this line item. From a low near 1% in early 2020, it sharply rose to nearly 4.73% by the end of 2020, followed by decreases and some missing data points. This pattern indicates irregularities or episodic events affecting tax receivables during the timeframe.
- Current investments
- Current investments started around 7% of total assets but declined to below 4% by 2021-end. A substantial increase occurred in 2023, reaching over 11%, before slightly decreasing and stabilizing near 7-9% toward early 2025. This suggests variability in short-term investment strategies with an emphasis on increased liquidity in 2023.
- Current assets
- The overall share of current assets in total assets peaked at nearly 24% by the end of 2020, followed by a sharp decline during 2021 and 2022 to around 16%. It then rebounded to roughly 21% in mid-2023 before a gradual decline again, ending near 18% in early 2025. The fluctuations imply shifts in liquidity and short-term asset management.
- Leasehold improvements, property and equipment, net
- This asset class maintained a generally stable share between 25% and 28%. Minor declines appeared in 2023, but restoration occurred by early 2025. This stability suggests steady investment and maintenance of physical assets.
- Long-term investments
- Long-term investments showed a progressive increase from under 2% in early 2020 to a peak exceeding 10% in late 2023 and 2024. Some decline towards early 2025 is observed, but the general direction indicates a strategic increase in long-duration asset holdings.
- Restricted cash
- Restricted cash was consistently low and stable around 0.3% to 0.5% of total assets, showing no significant changes over time.
- Operating lease assets
- As a major component, operating lease assets declined steadily from roughly 50% in early 2020 to approximately 43-44% in 2023-2024, with a slight increase again by early 2025. This decline could indicate lease expirations or changes in leasing strategies.
- Other assets
- These assets steadily increased over the period, particularly towards the end of the dataset, from under 0.5% to above 1.2%. This growth suggests rising value or categorization changes in miscellaneous asset areas.
- Goodwill
- Goodwill showed a consistent decline from 0.42% to about 0.24% of total assets, signifying possible amortization or impairment impacts.
- Long-term assets
- Long-term assets as a proportion of total assets remained strong, generally above 75%, increasing to over 83% by 2022 and stabilizing near 80-81% thereafter. This confirms the asset base is primarily comprised of longer-tenure investments and fixed assets.
In summary, the company experienced fluctuating liquidity levels with varying allocations between cash, current, and long-term investments. Long-term asset investments and operating lease assets dominate the asset structure, though operating leases show a decreasing trend. Volatility in income tax receivables and growth in other assets and long-term investments highlight dynamic financial positioning adjustments over the period.