Current Ratio
since 2005
Calculation
Chipotle Mexican Grill Inc., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2025 | 1.23 | = | 1,466,953) | ÷ | 1,188,142) |
| Dec 31, 2024 | 1.52 | = | 1,780,587) | ÷ | 1,168,768) |
| Dec 31, 2023 | 1.57 | = | 1,620,713) | ÷ | 1,030,625) |
| Dec 31, 2022 | 1.28 | = | 1,175,837) | ÷ | 921,880) |
| Dec 31, 2021 | 1.58 | = | 1,381,564) | ÷ | 873,682) |
| Dec 31, 2020 | 1.73 | = | 1,420,237) | ÷ | 822,199) |
| Dec 31, 2019 | 1.61 | = | 1,072,204) | ÷ | 666,593) |
| Dec 31, 2018 | 1.81 | = | 814,794) | ÷ | 449,990) |
| Dec 31, 2017 | 1.94 | = | 629,535) | ÷ | 323,893) |
| Dec 31, 2016 | 1.85 | = | 522,374) | ÷ | 281,793) |
| Dec 31, 2015 | 2.91 | = | 814,647) | ÷ | 279,942) |
| Dec 31, 2014 | 3.58 | = | 878,479) | ÷ | 245,710) |
| Dec 31, 2013 | 3.34 | = | 666,307) | ÷ | 199,228) |
| Dec 31, 2012 | 2.93 | = | 546,607) | ÷ | 186,852) |
| Dec 31, 2011 | 3.18 | = | 501,192) | ÷ | 157,453) |
| Dec 31, 2010 | 3.30 | = | 406,221) | ÷ | 123,054) |
| Dec 31, 2009 | 2.91 | = | 297,454) | ÷ | 102,153) |
| Dec 31, 2008 | 2.75 | = | 211,072) | ÷ | 76,788) |
| Dec 31, 2007 | 2.75 | = | 201,844) | ÷ | 73,301) |
| Dec 31, 2006 | 2.92 | = | 178,837) | ÷ | 61,201) |
| Dec 31, 2005 | 0.42 | = | 17,824) | ÷ | 41,982) |
Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in thousands
The current ratio exhibited significant fluctuation over the analyzed period, spanning from 2005 to 2025. Initially, the ratio was quite low, but experienced a substantial increase before stabilizing and then declining again in more recent years.
- Early Growth & Stability (2005-2010)
- From 2005 to 2010, the current ratio demonstrated a clear upward trend. Starting at 0.42 in 2005, it rose dramatically to 2.92 in 2006, then fluctuated between 2.75 and 3.30 for the remainder of the period. This indicates a strengthening of the short-term liquidity position, with current assets growing at a faster rate than current liabilities.
- Mid-Period Fluctuations (2011-2015)
- The period between 2011 and 2015 saw continued, though less pronounced, fluctuations. The ratio remained above 2.90 until 2015, when it decreased to 2.91. While still indicating a healthy liquidity position, the slight decline suggests a potential shift in the balance between short-term assets and liabilities.
- Recent Decline (2016-2025)
- From 2016 onwards, a consistent downward trend in the current ratio is observed. The ratio fell to 1.85 in 2016 and continued to decrease, reaching 1.23 in 2025. This suggests a weakening of the company’s ability to cover its short-term obligations with its current assets. The ratio dipped below 1.60 in 2018 and has remained below that level since.
- Magnitude of Change
- The largest single-year decrease occurred between 2015 and 2016, with a drop of 1.06. The most recent years show a more gradual decline, but the overall trend remains negative. The ratio’s movement from a high of 3.30 in 2010 to a low of 1.23 in 2025 represents a substantial change in the company’s liquidity profile.
Overall, the analysis reveals a transition from a strong liquidity position to a more constrained one. While the initial years demonstrate a robust ability to meet short-term obligations, the more recent trend suggests increasing pressure on liquidity and a potential need for attention to working capital management.
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Comparison to Competitors
Chipotle Mexican Grill Inc., current ratio, long-term trends, comparison to competitors
| Chipotle Mexican Grill Inc. | Airbnb Inc. | Booking Holdings Inc. | DoorDash, Inc. | McDonald’s Corp. | Starbucks Corp. | |
|---|---|---|---|---|---|---|
| Dec 31, 2025 | 1.23 | 1.38 | 1.33 | 1.41 | 0.95 | 0.72 |
| Dec 31, 2024 | 1.52 | 1.69 | 1.31 | 1.66 | 1.19 | 0.75 |
| Dec 31, 2023 | 1.57 | 1.66 | 1.28 | 1.64 | 1.16 | 0.78 |
| Dec 31, 2022 | 1.28 | 1.86 | 1.86 | 1.86 | 1.43 | 0.77 |
| Dec 31, 2021 | 1.58 | 1.95 | 2.10 | 2.59 | 1.78 | 1.20 |
| Dec 31, 2020 | 1.73 | 1.73 | 3.56 | 3.94 | 1.01 | 1.06 |
| Dec 31, 2019 | 1.61 | — | 1.83 | — | 0.98 | 0.92 |
| Dec 31, 2018 | 1.81 | — | 2.36 | — | 1.36 | 2.20 |
| Dec 31, 2017 | 1.94 | — | 2.58 | — | 1.84 | 1.25 |
| Dec 31, 2016 | 1.85 | — | 1.89 | — | 1.40 | 1.05 |
| Dec 31, 2015 | 2.91 | — | 2.47 | — | 3.27 | 1.19 |
| Dec 31, 2014 | 3.58 | — | 3.82 | — | 1.52 | 1.37 |
| Dec 31, 2013 | 3.34 | — | 5.41 | — | 1.59 | 1.02 |
| Dec 31, 2012 | 2.93 | — | 3.89 | — | 1.45 | 1.90 |
| Dec 31, 2011 | 3.18 | — | 2.77 | — | 1.25 | 1.83 |
| Dec 31, 2010 | 3.30 | — | 4.15 | — | 1.49 | 1.55 |
| Dec 31, 2009 | 2.91 | — | 2.50 | — | 1.14 | 1.29 |
| Dec 31, 2008 | 2.75 | — | 1.14 | — | 1.39 | 0.80 |
| Dec 31, 2007 | 2.75 | — | 0.88 | — | 0.80 | 0.79 |
| Dec 31, 2006 | 2.92 | — | 5.00 | — | 1.21 | 0.79 |
| Dec 31, 2005 | 0.42 | — | 3.15 | — | 1.45 | 0.99 |
Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Consumer Services)
Chipotle Mexican Grill Inc., current ratio, long-term trends, comparison to sector (consumer services)
| Chipotle Mexican Grill Inc. | Consumer Services | |
|---|---|---|
| Dec 31, 2025 | 1.23 | 1.20 |
| Dec 31, 2024 | 1.52 | 1.31 |
| Dec 31, 2023 | 1.57 | 1.28 |
| Dec 31, 2022 | 1.28 | 1.49 |
| Dec 31, 2021 | 1.58 | 1.77 |
| Dec 31, 2020 | 1.73 | 1.73 |
| Dec 31, 2019 | 1.61 | 1.27 |
| Dec 31, 2018 | 1.81 | 2.04 |
| Dec 31, 2017 | 1.94 | 1.85 |
| Dec 31, 2016 | 1.85 | 1.39 |
| Dec 31, 2015 | 2.91 | 2.21 |
| Dec 31, 2014 | 3.58 | 1.96 |
| Dec 31, 2013 | 3.34 | 1.84 |
| Dec 31, 2012 | 2.93 | 2.11 |
| Dec 31, 2011 | 3.18 | 1.72 |
| Dec 31, 2010 | 3.30 | 1.79 |
| Dec 31, 2009 | 2.91 | 1.33 |
| Dec 31, 2008 | 2.75 | 1.14 |
| Dec 31, 2007 | 2.75 | 0.82 |
| Dec 31, 2006 | 2.92 | 1.14 |
| Dec 31, 2005 | 0.42 | 1.36 |
Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Consumer Discretionary)
Chipotle Mexican Grill Inc., current ratio, long-term trends, comparison to industry (consumer discretionary)
| Chipotle Mexican Grill Inc. | Consumer Discretionary | |
|---|---|---|
| Dec 31, 2025 | 1.23 | 1.18 |
| Dec 31, 2024 | 1.52 | 1.22 |
| Dec 31, 2023 | 1.57 | 1.20 |
| Dec 31, 2022 | 1.28 | 1.15 |
| Dec 31, 2021 | 1.58 | 1.25 |
| Dec 31, 2020 | 1.73 | 1.19 |
| Dec 31, 2019 | 1.61 | 1.10 |
| Dec 31, 2018 | 1.81 | 1.15 |
| Dec 31, 2017 | 1.94 | 1.15 |
| Dec 31, 2016 | 1.85 | 1.12 |
| Dec 31, 2015 | 2.91 | 1.25 |
| Dec 31, 2014 | 3.58 | 1.11 |
| Dec 31, 2013 | 3.34 | 1.15 |
| Dec 31, 2012 | 2.93 | 1.14 |
| Dec 31, 2011 | 3.18 | 1.31 |
| Dec 31, 2010 | 3.30 | 1.24 |
| Dec 31, 2009 | 2.91 | 1.25 |
| Dec 31, 2008 | 2.75 | 0.96 |
| Dec 31, 2007 | 2.75 | 1.21 |
| Dec 31, 2006 | 2.92 | 1.15 |
| Dec 31, 2005 | 0.42 | 1.10 |
Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).