Analysis of Geographic Areas
Chipotle Mexican Grill Inc. operates in 2 regions: United States and International.
Area Profit Margin
Chipotle Mexican Grill Inc., profit margin by geographic area
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |
|---|---|---|---|---|---|
| United States | 22.15% | 23.66% | 22.86% | — | — |
| International | -264.72% | -352.40% | -439.12% | — | — |
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).
Area Profit Margin: United States
Chipotle Mexican Grill Inc.; United States; area profit margin calculation
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Income from operations | 2,587,507) | 2,628,599) | 2,222,118) | —) | —) |
| Revenue | 11,679,417) | 11,111,732) | 9,720,369) | —) | —) |
| Area Profitability Ratio | |||||
| Area profit margin1 | 22.15% | 23.66% | 22.86% | — | — |
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).
1 2025 Calculation
Area profit margin = 100 × Income from operations ÷ Revenue
= 100 × 2,587,507 ÷ 11,679,417 = 22.15%
Area Profit Margin: International
Chipotle Mexican Grill Inc.; International; area profit margin calculation
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Income from operations | (651,709) | (712,266) | (664,305) | —) | —) |
| Revenue | 246,184) | 202,121) | 151,280) | —) | —) |
| Area Profitability Ratio | |||||
| Area profit margin1 | -264.72% | -352.40% | -439.12% | — | — |
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).
1 2025 Calculation
Area profit margin = 100 × Income from operations ÷ Revenue
= 100 × -651,709 ÷ 246,184 = -264.72%
Area Return on Assets (Area ROA)
Chipotle Mexican Grill Inc., ROA by geographic area
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |
|---|---|---|---|---|---|
| United States | 37.31% | 42.08% | 39.42% | — | — |
| International | -313.65% | -498.62% | -596.56% | — | — |
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).
Area ROA: United States
Chipotle Mexican Grill Inc.; United States; area ROA calculation
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Income from operations | 2,587,507) | 2,628,599) | 2,222,118) | —) | —) |
| Long-lived tangible assets | 6,934,590) | 6,247,406) | 5,637,230) | —) | —) |
| Area Profitability Ratio | |||||
| Area ROA1 | 37.31% | 42.08% | 39.42% | — | — |
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).
1 2025 Calculation
Area ROA = 100 × Income from operations ÷ Long-lived tangible assets
= 100 × 2,587,507 ÷ 6,934,590 = 37.31%
Area ROA: International
Chipotle Mexican Grill Inc.; International; area ROA calculation
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Income from operations | (651,709) | (712,266) | (664,305) | —) | —) |
| Long-lived tangible assets | 207,781) | 142,847) | 111,356) | —) | —) |
| Area Profitability Ratio | |||||
| Area ROA1 | -313.65% | -498.62% | -596.56% | — | — |
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).
1 2025 Calculation
Area ROA = 100 × Income from operations ÷ Long-lived tangible assets
= 100 × -651,709 ÷ 207,781 = -313.65%
Area Asset Turnover
Chipotle Mexican Grill Inc., asset turnover by geographic area
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |
|---|---|---|---|---|---|
| United States | 1.68 | 1.78 | 1.72 | — | — |
| International | 1.18 | 1.41 | 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).
Area Asset Turnover: United States
Chipotle Mexican Grill Inc.; United States; area asset turnover calculation
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Revenue | 11,679,417) | 11,111,732) | 9,720,369) | —) | —) |
| Long-lived tangible assets | 6,934,590) | 6,247,406) | 5,637,230) | —) | —) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 1.68 | 1.78 | 1.72 | — | — |
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).
1 2025 Calculation
Area asset turnover = Revenue ÷ Long-lived tangible assets
= 11,679,417 ÷ 6,934,590 = 1.68
Area Asset Turnover: International
Chipotle Mexican Grill Inc.; International; area asset turnover calculation
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Revenue | 246,184) | 202,121) | 151,280) | —) | —) |
| Long-lived tangible assets | 207,781) | 142,847) | 111,356) | —) | —) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 1.18 | 1.41 | 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).
1 2025 Calculation
Area asset turnover = Revenue ÷ Long-lived tangible assets
= 246,184 ÷ 207,781 = 1.18
Revenue
Chipotle Mexican Grill Inc., revenue by geographic area
US$ in thousands
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |
|---|---|---|---|---|---|
| United States | 11,679,417) | 11,111,732) | 9,720,369) | —) | —) |
| International | 246,184) | 202,121) | 151,280) | —) | —) |
| Total | 11,925,601) | 11,313,853) | 9,871,649) | —) | —) |
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).
Income from operations
Chipotle Mexican Grill Inc., income from operations by geographic area
US$ in thousands
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |
|---|---|---|---|---|---|
| United States | 2,587,507) | 2,628,599) | 2,222,118) | —) | —) |
| International | (651,709) | (712,266) | (664,305) | —) | —) |
| Total | 1,935,798) | 1,916,333) | 1,557,813) | —) | —) |
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).
Long-lived tangible assets
Chipotle Mexican Grill Inc., long-lived tangible assets by geographic area
US$ in thousands
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |
|---|---|---|---|---|---|
| United States | 6,934,590) | 6,247,406) | 5,637,230) | —) | —) |
| International | 207,781) | 142,847) | 111,356) | —) | —) |
| Total | 7,142,371) | 6,390,253) | 5,748,586) | —) | —) |
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).