Net Profit Margin
since 2005
Calculation
Chipotle Mexican Grill Inc., net profit margin, long-term trends, calculation
| Net profit margin | = | 100 | × | Net income1 | ÷ | Revenue1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2025 | 12.88% | = | 100 | × | 1,535,761) | ÷ | 11,925,601) |
| Dec 31, 2024 | 13.56% | = | 100 | × | 1,534,110) | ÷ | 11,313,853) |
| Dec 31, 2023 | 12.45% | = | 100 | × | 1,228,737) | ÷ | 9,871,649) |
| Dec 31, 2022 | 10.41% | = | 100 | × | 899,101) | ÷ | 8,634,652) |
| Dec 31, 2021 | 8.65% | = | 100 | × | 652,984) | ÷ | 7,547,061) |
| Dec 31, 2020 | 5.94% | = | 100 | × | 355,766) | ÷ | 5,984,634) |
| Dec 31, 2019 | 6.27% | = | 100 | × | 350,158) | ÷ | 5,586,369) |
| Dec 31, 2018 | 3.63% | = | 100 | × | 176,553) | ÷ | 4,864,985) |
| Dec 31, 2017 | 3.94% | = | 100 | × | 176,253) | ÷ | 4,476,412) |
| Dec 31, 2016 | 0.59% | = | 100 | × | 22,938) | ÷ | 3,904,384) |
| Dec 31, 2015 | 10.57% | = | 100 | × | 475,602) | ÷ | 4,501,223) |
| Dec 31, 2014 | 10.84% | = | 100 | × | 445,374) | ÷ | 4,108,269) |
| Dec 31, 2013 | 10.19% | = | 100 | × | 327,438) | ÷ | 3,214,591) |
| Dec 31, 2012 | 10.18% | = | 100 | × | 278,000) | ÷ | 2,731,224) |
| Dec 31, 2011 | 9.47% | = | 100 | × | 214,945) | ÷ | 2,269,548) |
| Dec 31, 2010 | 9.75% | = | 100 | × | 178,981) | ÷ | 1,835,922) |
| Dec 31, 2009 | 8.35% | = | 100 | × | 126,845) | ÷ | 1,518,417) |
| Dec 31, 2008 | 5.87% | = | 100 | × | 78,202) | ÷ | 1,331,968) |
| Dec 31, 2007 | 6.50% | = | 100 | × | 70,563) | ÷ | 1,085,782) |
| Dec 31, 2006 | 5.03% | = | 100 | × | 41,423) | ÷ | 822,930) |
| Dec 31, 2005 | 6.01% | = | 100 | × | 37,696) | ÷ | 627,695) |
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 net profit margin exhibited a fluctuating pattern over the analyzed period, spanning from 2005 to 2025. Initially, the margin demonstrated moderate volatility, moving from 6.01% in 2005 to 5.03% in 2006, then increasing to 6.50% in 2007, and slightly decreasing to 5.87% in 2008.
A clear upward trend emerged between 2009 and 2013, with the net profit margin rising from 8.35% to a peak of 10.84%. This period indicates improving profitability relative to revenue. However, this positive trajectory was interrupted in 2016, with a significant decline to 0.59%, representing a substantial decrease in profitability. A recovery began in 2017, with the margin reaching 3.94%, followed by a further increase to 3.63% in 2018.
From 2019 onwards, the net profit margin experienced another period of growth, reaching 6.27% in 2019 and 5.94% in 2020. A more substantial increase was observed in 2021, with the margin reaching 8.65%, followed by 10.41% in 2022 and further increasing to 12.45% in 2023. The margin remained high in 2024 at 13.56%, before slightly decreasing to 12.88% in 2025.
- Overall Trend
- The overall trend reveals a long-term increase in net profit margin, despite significant short-term disruptions. The period between 2005 and 2013 showed consistent growth, followed by a dramatic dip in 2016. Subsequent years demonstrate a recovery and a return to, and then surpassing, previous levels of profitability.
- Significant Fluctuations
- The most notable fluctuation occurred in 2016, where the net profit margin fell to 0.59%. This suggests a period of significant challenges impacting profitability, potentially related to increased costs, decreased revenue, or other adverse factors. The subsequent recovery indicates successful mitigation of these challenges.
- Recent Performance
- The most recent years (2021-2025) demonstrate a strong and sustained period of high net profit margins, indicating effective cost management, strong revenue growth, or a combination of both. The slight decrease in 2025, while present, does not negate the overall positive trend.
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Comparison to Competitors
Chipotle Mexican Grill Inc., net profit margin, 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 | 12.88% | 20.51% | 20.08% | 6.82% | 31.85% | 4.99% |
| Dec 31, 2024 | 13.56% | 23.85% | 24.78% | 1.15% | 31.72% | 10.40% |
| Dec 31, 2023 | 12.45% | 48.32% | 20.07% | -6.46% | 33.22% | 11.46% |
| Dec 31, 2022 | 10.41% | 22.54% | 17.89% | -20.74% | 26.65% | 10.18% |
| Dec 31, 2021 | 8.65% | -5.88% | 10.63% | -9.57% | 32.49% | 14.45% |
| Dec 31, 2020 | 5.94% | -135.71% | 0.87% | -15.97% | 24.63% | 3.95% |
| Dec 31, 2019 | 6.27% | — | 32.29% | — | 28.59% | 13.58% |
| Dec 31, 2018 | 3.63% | — | 27.52% | — | 28.18% | 18.28% |
| Dec 31, 2017 | 3.94% | — | 18.46% | — | 22.75% | 12.89% |
| Dec 31, 2016 | 0.59% | — | 19.87% | — | 19.03% | 13.22% |
| Dec 31, 2015 | 10.57% | — | 27.66% | — | 17.82% | 14.39% |
| Dec 31, 2014 | 10.84% | — | 28.69% | — | 17.34% | 12.57% |
| Dec 31, 2013 | 10.19% | — | 27.86% | — | 19.87% | 0.06% |
| Dec 31, 2012 | 10.18% | — | 26.98% | — | 19.82% | 10.40% |
| Dec 31, 2011 | 9.47% | — | 24.25% | — | 20.38% | 10.65% |
| Dec 31, 2010 | 9.75% | — | 17.10% | — | 20.55% | 8.83% |
| Dec 31, 2009 | 8.35% | — | 20.93% | — | 20.01% | 4.00% |
| Dec 31, 2008 | 5.87% | — | 10.26% | — | 18.34% | 3.04% |
| Dec 31, 2007 | 6.50% | — | 11.15% | — | 10.51% | 7.15% |
| Dec 31, 2006 | 5.03% | — | 6.63% | — | 16.42% | 7.25% |
| Dec 31, 2005 | 6.01% | — | 20.02% | — | 12.72% | 7.76% |
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., net profit margin, long-term trends, comparison to sector (consumer services)
| Chipotle Mexican Grill Inc. | Consumer Services | |
|---|---|---|
| Dec 31, 2025 | 12.88% | 16.14% |
| Dec 31, 2024 | 13.56% | 18.64% |
| Dec 31, 2023 | 12.45% | 20.08% |
| Dec 31, 2022 | 10.41% | 14.50% |
| Dec 31, 2021 | 8.65% | 15.60% |
| Dec 31, 2020 | 5.94% | 1.66% |
| Dec 31, 2019 | 6.27% | 21.75% |
| Dec 31, 2018 | 3.63% | 22.44% |
| Dec 31, 2017 | 3.94% | 16.99% |
| Dec 31, 2016 | 0.59% | 15.95% |
| Dec 31, 2015 | 10.57% | 17.69% |
| Dec 31, 2014 | 10.84% | 17.17% |
| Dec 31, 2013 | 10.19% | 14.74% |
| Dec 31, 2012 | 10.18% | 17.49% |
| Dec 31, 2011 | 9.47% | 17.69% |
| Dec 31, 2010 | 9.75% | 16.62% |
| Dec 31, 2009 | 8.35% | 15.28% |
| Dec 31, 2008 | 5.87% | 13.20% |
| Dec 31, 2007 | 6.50% | 9.50% |
| Dec 31, 2006 | 5.03% | 13.49% |
| Dec 31, 2005 | 6.01% | 11.71% |
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., net profit margin, long-term trends, comparison to industry (consumer discretionary)
| Chipotle Mexican Grill Inc. | Consumer Discretionary | |
|---|---|---|
| Dec 31, 2025 | 12.88% | 7.84% |
| Dec 31, 2024 | 13.56% | 8.69% |
| Dec 31, 2023 | 12.45% | 7.84% |
| Dec 31, 2022 | 10.41% | 5.02% |
| Dec 31, 2021 | 8.65% | 9.12% |
| Dec 31, 2020 | 5.94% | 5.18% |
| Dec 31, 2019 | 6.27% | 5.92% |
| Dec 31, 2018 | 3.63% | 6.19% |
| Dec 31, 2017 | 3.94% | 4.38% |
| Dec 31, 2016 | 0.59% | 5.77% |
| Dec 31, 2015 | 10.57% | 6.37% |
| Dec 31, 2014 | 10.84% | 4.66% |
| Dec 31, 2013 | 10.19% | 5.29% |
| Dec 31, 2012 | 10.18% | 5.32% |
| Dec 31, 2011 | 9.47% | 8.80% |
| Dec 31, 2010 | 9.75% | 5.80% |
| Dec 31, 2009 | 8.35% | 4.94% |
| Dec 31, 2008 | 5.87% | 0.22% |
| Dec 31, 2007 | 6.50% | 3.23% |
| Dec 31, 2006 | 5.03% | 0.73% |
| Dec 31, 2005 | 6.01% | 4.49% |
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).