Stock Analysis on Net
Stock Analysis on Net

Chipotle Mexican Grill Inc. (NYSE:CMG)

$24.99

Return on Assets (ROA)
since 2005

Microsoft Excel

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Calculation

Chipotle Mexican Grill Inc., ROA, long-term trends, calculation

Microsoft Excel
ROA = 100 × Net income1 ÷ Total assets1
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Dec 31, 2005 = 100 × ÷

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 Return on Assets (ROA) exhibited a generally positive trend over the analyzed period, though with notable fluctuations. Initial values ranged from approximately 6.86% to 9.60% between 2005 and 2007. A period of consistent growth followed, with ROA increasing to a peak of 17.49% in 2014. Subsequently, the ratio experienced a significant decline in 2016, falling to 1.13%, before recovering and continuing an upward trajectory through 2023, reaching 16.67%.

Initial Period (2005-2007)
The ROA demonstrated moderate volatility during this timeframe. While fluctuating, it remained within a relatively narrow range, suggesting a stable, though not exceptional, level of profitability relative to asset utilization. The increase from 6.86% in 2006 to 9.77% in 2007 indicates improving efficiency in asset deployment.
Growth Phase (2008-2014)
This period was characterized by consistent and substantial growth in ROA. The ratio nearly doubled from 9.48% in 2008 to 17.49% in 2014. This suggests a significant improvement in the company’s ability to generate earnings from its asset base, potentially driven by increased operational efficiency, effective asset management, or a combination of both. The values remained consistently above 15% from 2011 onwards.
Significant Decline and Recovery (2015-2023)
A dramatic decrease in ROA occurred in 2016, coinciding with a decrease in net income and a reduction in total assets. The ratio’s subsequent recovery, beginning in 2017, indicates a return to more efficient asset utilization and improved profitability. The ROA experienced continued growth, surpassing previous highs and reaching 16.67% in 2023. This recovery phase suggests successful strategic adjustments or a favorable shift in market conditions.
Recent Performance (2023-2025)
The ROA continued to demonstrate strong performance, reaching 15.27% in 2022 and 17.07% in 2025. This sustained high level of ROA suggests continued effective asset management and profitability. The slight decrease in total assets in 2025 did not negatively impact ROA, indicating that the company maintained its ability to generate earnings efficiently even with a smaller asset base.

Overall, the ROA trend indicates a company capable of generating substantial returns from its assets, although susceptible to periods of significant volatility. The recent performance suggests a return to a period of strong and consistent profitability.

Comparison to Competitors

Chipotle Mexican Grill Inc., ROA, long-term trends, comparison to competitors

Microsoft Excel
Chipotle Mexican Grill Inc. Airbnb Inc. Booking Holdings Inc. DoorDash, Inc. McDonald’s Corp. Starbucks Corp.
Dec 31, 2025
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Dec 31, 2005

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., ROA, long-term trends, comparison to sector (consumer services)

Microsoft Excel
Chipotle Mexican Grill Inc. Consumer Services
Dec 31, 2025
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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., ROA, long-term trends, comparison to industry (consumer discretionary)

Microsoft Excel
Chipotle Mexican Grill Inc. Consumer Discretionary
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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).