Analysis of Profitability Ratios
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
Profitability Ratios (Summary)
Chipotle Mexican Grill Inc., profitability ratios
Based on: 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).
| Profitability ratio | Description | The company |
|---|---|---|
| Gross profit margin | Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. | Chipotle Mexican Grill Inc. gross profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Operating profit margin | A profitability ratio calculated as operating income divided by revenue. | Chipotle Mexican Grill Inc. operating profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Net profit margin | An indicator of profitability, calculated as net income divided by revenue. | Chipotle Mexican Grill Inc. net profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Profitability ratio | Description | The company |
|---|---|---|
| ROE | A profitability ratio calculated as net income divided by shareholders’ equity. | Chipotle Mexican Grill Inc. ROE improved from 2021 to 2022 and from 2022 to 2023. |
| ROA | A profitability ratio calculated as net income divided by total assets. | Chipotle Mexican Grill Inc. ROA improved from 2021 to 2022 and from 2022 to 2023. |
Gross Profit Margin
Chipotle Mexican Grill Inc., gross profit margin calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Gross profit | 2,586,092) | 2,062,119) | 1,707,009) | 1,041,081) | 1,142,490) | |
| Revenue | 9,871,649) | 8,634,652) | 7,547,061) | 5,984,634) | 5,586,369) | |
| Profitability Ratio | ||||||
| Gross profit margin1 | 26.20% | 23.88% | 22.62% | 17.40% | 20.45% | |
| Benchmarks | ||||||
| Gross Profit Margin, Competitors2 | ||||||
| Airbnb Inc. | 82.83% | 82.15% | 80.71% | 74.07% | — | |
| Carnival Corp. & plc | 33.70% | 3.38% | -143.97% | -47.36% | 38.01% | |
| McDonald’s Corp. | 57.12% | 56.97% | 54.17% | 50.77% | 52.74% | |
| Starbucks Corp. | 27.37% | 25.96% | 28.87% | 21.51% | 28.25% | |
Based on: 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).
1 2023 Calculation
Gross profit margin = 100 × Gross profit ÷ Revenue
= 100 × 2,586,092 ÷ 9,871,649 = 26.20%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| Gross profit margin | Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. | Chipotle Mexican Grill Inc. gross profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
Operating Profit Margin
Chipotle Mexican Grill Inc., operating profit margin calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Income from operations | 1,557,813) | 1,160,403) | 804,943) | 290,164) | 443,958) | |
| Revenue | 9,871,649) | 8,634,652) | 7,547,061) | 5,984,634) | 5,586,369) | |
| Profitability Ratio | ||||||
| Operating profit margin1 | 15.78% | 13.44% | 10.67% | 4.85% | 7.95% | |
| Benchmarks | ||||||
| Operating Profit Margin, Competitors2 | ||||||
| Airbnb Inc. | 15.31% | 21.45% | 7.17% | -106.27% | — | |
| Booking Holdings Inc. | 27.31% | 29.85% | 22.78% | -9.28% | 35.48% | |
| Carnival Corp. & plc | 9.06% | -35.99% | -371.54% | -158.45% | 15.73% | |
| McDonald’s Corp. | 45.68% | 40.42% | 44.59% | 38.13% | 43.03% | |
| Starbucks Corp. | 16.32% | 14.32% | 16.77% | 6.64% | 15.38% | |
| Operating Profit Margin, Sector | ||||||
| Consumer Services | 22.85% | 17.37% | 15.08% | -6.06% | 24.94% | |
| Operating Profit Margin, Industry | ||||||
| Consumer Discretionary | 9.12% | 8.07% | 8.16% | 5.53% | 7.81% | |
Based on: 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).
1 2023 Calculation
Operating profit margin = 100 × Income from operations ÷ Revenue
= 100 × 1,557,813 ÷ 9,871,649 = 15.78%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| Operating profit margin | A profitability ratio calculated as operating income divided by revenue. | Chipotle Mexican Grill Inc. operating profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
Net Profit Margin
Chipotle Mexican Grill Inc., net profit margin calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net income | 1,228,737) | 899,101) | 652,984) | 355,766) | 350,158) | |
| Revenue | 9,871,649) | 8,634,652) | 7,547,061) | 5,984,634) | 5,586,369) | |
| Profitability Ratio | ||||||
| Net profit margin1 | 12.45% | 10.41% | 8.65% | 5.94% | 6.27% | |
| Benchmarks | ||||||
| Net Profit Margin, Competitors2 | ||||||
| Airbnb Inc. | 48.32% | 22.54% | -5.88% | -135.71% | — | |
| Booking Holdings Inc. | 20.07% | 17.89% | 10.63% | 0.87% | 32.29% | |
| Carnival Corp. & plc | -0.34% | -50.07% | -497.96% | -182.95% | 14.36% | |
| McDonald’s Corp. | 33.22% | 26.65% | 32.49% | 24.63% | 28.59% | |
| Starbucks Corp. | 11.46% | 10.18% | 14.45% | 3.95% | 13.58% | |
| Net Profit Margin, Sector | ||||||
| Consumer Services | 18.38% | 9.06% | 4.71% | -13.57% | 20.02% | |
| Net Profit Margin, Industry | ||||||
| Consumer Discretionary | 7.80% | 4.64% | 8.35% | 4.16% | 6.11% | |
Based on: 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).
1 2023 Calculation
Net profit margin = 100 × Net income ÷ Revenue
= 100 × 1,228,737 ÷ 9,871,649 = 12.45%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| Net profit margin | An indicator of profitability, calculated as net income divided by revenue. | Chipotle Mexican Grill Inc. net profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
Return on Equity (ROE)
Chipotle Mexican Grill Inc., ROE calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net income | 1,228,737) | 899,101) | 652,984) | 355,766) | 350,158) | |
| Shareholders’ equity | 3,062,207) | 2,368,023) | 2,297,374) | 2,020,135) | 1,683,026) | |
| Profitability Ratio | ||||||
| ROE1 | 40.13% | 37.97% | 28.42% | 17.61% | 20.81% | |
| Benchmarks | ||||||
| ROE, Competitors2 | ||||||
| Airbnb Inc. | 58.69% | 34.05% | -7.37% | -158.00% | — | |
| Booking Holdings Inc. | — | 109.92% | 18.86% | 1.21% | 82.00% | |
| Carnival Corp. & plc | -1.08% | -86.24% | -78.24% | -49.80% | 11.79% | |
| McDonald’s Corp. | — | — | — | — | — | |
| Starbucks Corp. | — | — | — | — | — | |
| ROE, Sector | ||||||
| Consumer Services | 857.04% | 300.69% | 23.97% | -59.34% | 96.18% | |
| ROE, Industry | ||||||
| Consumer Discretionary | 30.04% | 19.29% | 30.07% | 18.30% | 31.39% | |
Based on: 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).
1 2023 Calculation
ROE = 100 × Net income ÷ Shareholders’ equity
= 100 × 1,228,737 ÷ 3,062,207 = 40.13%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| ROE | A profitability ratio calculated as net income divided by shareholders’ equity. | Chipotle Mexican Grill Inc. ROE improved from 2021 to 2022 and from 2022 to 2023. |
Return on Assets (ROA)
Chipotle Mexican Grill Inc., ROA calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net income | 1,228,737) | 899,101) | 652,984) | 355,766) | 350,158) | |
| Total assets | 8,044,362) | 6,927,504) | 6,652,958) | 5,982,896) | 5,104,604) | |
| Profitability Ratio | ||||||
| ROA1 | 15.27% | 12.98% | 9.81% | 5.95% | 6.86% | |
| Benchmarks | ||||||
| ROA, Competitors2 | ||||||
| Airbnb Inc. | 23.21% | 11.80% | -2.57% | -43.70% | — | |
| Booking Holdings Inc. | 17.62% | 12.06% | 4.93% | 0.27% | 22.73% | |
| Carnival Corp. & plc | -0.15% | -11.78% | -17.81% | -19.10% | 6.64% | |
| McDonald’s Corp. | 15.08% | 12.25% | 14.01% | 8.99% | 12.68% | |
| Starbucks Corp. | 14.01% | 11.73% | 13.38% | 3.16% | 18.73% | |
| ROA, Sector | ||||||
| Consumer Services | 12.16% | 5.16% | 2.03% | -5.03% | 12.89% | |
| ROA, Industry | ||||||
| Consumer Discretionary | 7.41% | 4.34% | 7.05% | 3.37% | 5.62% | |
Based on: 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).
1 2023 Calculation
ROA = 100 × Net income ÷ Total assets
= 100 × 1,228,737 ÷ 8,044,362 = 15.27%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| ROA | A profitability ratio calculated as net income divided by total assets. | Chipotle Mexican Grill Inc. ROA improved from 2021 to 2022 and from 2022 to 2023. |