Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.
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- Statement of Comprehensive Income
- Analysis of Profitability Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Geographic Areas
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Return on Equity (ROE) since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
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Chipotle Mexican Grill Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in thousands
Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).
Total liabilities and shareholders' equity grew from 6.15 billion US dollars in March 2021 to 8.80 billion US dollars by March 2026, indicating a significant expansion of the balance sheet over the five-year period. This growth is primarily driven by a steady increase in long-term obligations, specifically related to operating leases.
- Liability Trends
- Total liabilities exhibited a consistent upward trajectory, rising from 4.05 billion US dollars in March 2021 to 6.40 billion US dollars in March 2026. This increase is dominated by long-term operating lease liabilities, which grew from 3.04 billion US dollars to 4.94 billion US dollars, suggesting an aggressive expansion of the physical store footprint.
- Current liabilities increased from 834 million US dollars in March 2021 to 1.24 billion US dollars in March 2026. Key drivers within this category include accounts payable and unearned revenue, both of which showed general growth, and current operating lease liabilities, which rose linearly from 209 million US dollars to 310 million US dollars.
- Accrued payroll and benefits demonstrated significant quarterly volatility, peaking at 262 million US dollars in December 2024 before adjusting to 192 million US dollars by March 2026.
- Stockholders' Equity and Capital Structure
- Shareholders' equity experienced a period of growth from March 2021, peaking at approximately 3.71 billion US dollars in June 2024, before entering a downward trend to 2.41 billion US dollars by March 2026.
- A major structural shift occurred in June 2024. Retained earnings, which had climbed steadily from 3.40 billion US dollars in March 2021 to a peak of 6.42 billion US dollars in March 2024, dropped sharply to 1.68 billion US dollars in June 2024. This coincided with the removal of treasury stock from the balance sheet and a corresponding increase in common stock from 376 thousand US dollars to 13.71 million US dollars.
- Following this restructuring, retained earnings continued to decline, reaching 167 million US dollars by March 2026, which contributed to the overall reduction in total shareholders' equity during the final two years of the period.
The overall financial profile reveals a shift toward higher leverage, as the growth in total liabilities outpaced the growth in shareholders' equity. The balance sheet is heavily characterized by lease-related obligations, which constitute the largest single component of the company's total liabilities.