Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Profitability Ratios
- Analysis of Geographic Areas
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Operating Profit Margin since 2005
- Total Asset Turnover since 2005
- Analysis of Revenues
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Chipotle Mexican Grill Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2025-06-30), 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).
- Current Liabilities
- Current liabilities as a percentage of total liabilities and shareholders’ equity fluctuated moderately, peaking at 14.24% in September 2020, then generally declining to a low of 11.52% by December 2024, before rising again to 12.22% in June 2025. This reflects a slight tightening in short-term obligations relative to the overall financing structure during the period.
- Accounts Payable
- The proportion of accounts payable remained relatively stable with minor oscillations between approximately 2.15% and 2.66%, showing no significant upward or downward trend. This indicates a consistent approach towards managing vendor payables relative to total liabilities and equity.
- Accrued Payroll and Benefits
- The accrued payroll and benefits component displayed notable volatility, with peaks around 3.61% in March 2021 and troughs near 1.65% in March 2023. The fluctuations suggest varying levels of employee compensation and benefits obligations relative to the capital structure, potentially influenced by changing workforce or compensation policies.
- Accrued Liabilities
- Accrued liabilities showed a declining trend from around 2.83% in March 2020 to a lower range near 1.84%-2.05% between late 2023 and early 2025, indicating reduced accrued expenses or greater payment efficiency.
- Unearned Revenue
- Unearned revenue rose modestly from 1.49% in March 2020 to a range between 2.0% and 2.64% through the latest periods, reflecting an increase in advance payments received relative to total liabilities and equity, which may impact revenue recognition timing.
- Operating Lease Liabilities
- Current operating lease liabilities showed a gradual decrease from 3.43% in March 2020 to approximately 3.02%-3.15% near the end of the dataset, while long-term operating lease liabilities decreased more noticeably from above 53% to around 46%-48%. This overall decline suggests reduced lease obligations or asset portfolio changes over time.
- Income Tax Payable
- Income tax payable was largely unreported until a clear increase appeared in 2022, reaching peaks around 2.18%, before fluctuating and partially disappearing in the data. The spikes may reflect timing differences in tax liabilities in specific quarters.
- Deferred Income Tax Liabilities
- Deferred income tax liabilities initially increased to about 2.5% in late 2020, then trended downward steadily to below 0.5% towards the end of the period, indicating diminishing deferred tax obligations.
- Other Liabilities
- Other liabilities remained stable and low, around 0.6% to 0.85%, with a slight upward trend in later periods, suggesting minor growth in miscellaneous liabilities.
- Total Liabilities
- Total liabilities as a portion of the total financing mix decreased from nearly 68% in the early periods to approximately 58%-61% by 2024 and 2025, reflecting a gradual deleveraging or growth in equity relative to liabilities.
- Equity Composition
- Shareholders’ equity rose from about 32% to nearly 40% over the period, showing strengthening equity relative to total financing. Retained earnings exhibited a significant increase from 57.56% of total liabilities and shareholders’ equity in early 2020 to over 75% by late 2023, before sharply dropping to below 20% in 2024 and 2025. This drop may be due to restatements, share buybacks, or other equity adjustments.
- Treasury Stock
- Treasury stock, recorded as a negative percentage, deepened from about -46.8% to nearly -63.5% in late 2022, implying significant share repurchases. However, data is missing beyond certain points, limiting full trend assessment.
- Additional Paid-in Capital
- Additional paid-in capital showed a declining trend from near 28.5% to approximately 22%-24% in later periods, suggesting limited new capital contributions or reallocations.
- Summary
- Overall, the financial structure indicates a gradual shift from liabilities towards greater equity proportion. Lease liabilities and deferred tax obligations declined steadily, while current liabilities and accrued payroll exhibited variable patterns. The complex behavior of retained earnings and treasury stock highlights possible corporate actions affecting equity accounts. The stability in accounts payable and other liabilities suggests consistent short-term management of obligations.