Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
Profitability Ratios (Summary)
Chipotle Mexican Grill Inc., profitability ratios (quarterly data)
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
The financial data indicates a consistent improvement in key profitability ratios over the observed period. Beginning from the first recorded quarter in March 2020, the margins and returns show a noticeable upward trajectory, reflecting enhanced profit generation and operational efficiency.
- Gross Profit Margin
- Starting at 17.4% in March 2020, the gross profit margin steadily increases over time, reaching a peak of 27.1% by September 2024. Thereafter, it slightly declines, stabilizing just below 26% towards June 2025. This upward trend suggests effective cost management and/or increased sales prices relative to cost of goods sold.
- Operating Profit Margin
- Operating profit margin follows a similar pattern, rising from 4.85% in March 2020 to about 17% by mid-2025. The increase is especially notable between March 2021 and December 2023, where operating margins climbed from approximately 6% to over 15%. This improvement points to better control over operating expenses and improved operational leverage.
- Net Profit Margin
- Net profit margin exhibits growth from 5.94% in early 2020 to a high of approximately 13.6% in 2024, with minor fluctuations thereafter. This trend parallels the operating margin increase, confirming that improvements in operating efficiency positively impacted the bottom line, while maintaining tax and interest costs at manageable levels.
- Return on Equity (ROE)
- The ROE shows strong enhancement, increasing from 17.61% in March 2020 to peaks exceeding 44% during 2024-2025. Although there are slight dips post-peak, the ROE remains elevated, indicating that shareholder equity is being used more effectively to generate profits, possibly reflecting increasing profitability and/or leverage.
- Return on Assets (ROA)
- ROA rises consistently from 5.95% in March 2020 to above 17% by 2025. This steady increase reflects greater efficiency in asset utilization to generate earnings, corroborating the positive trends observed in profit margins.
Overall, the data reflects a strong positive trend in profitability and returns, with the firm consistently improving cost management and asset efficiency. Margins and returns peak around 2024, with slight moderation afterward, which might indicate nearing maturity in profit improvements or external factors affecting operational performance. Nonetheless, the company demonstrates sound financial health and operational scalability during the period analyzed.
Return on Sales
Return on Investment
Gross Profit Margin
Chipotle Mexican Grill Inc., gross profit margin calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||
| Gross profit | 838,230) | 753,622) | 704,261) | 712,181) | 859,400) | 741,850) | 638,304) | 649,843) | 690,855) | 607,090) | 522,542) | 562,546) | 558,085) | 418,946) | 396,018) | 459,353) | 462,882) | 388,756) | 313,227) | 312,225) | 166,762) | 248,867) | |||||||
| Revenue | 3,063,393) | 2,875,253) | 2,845,312) | 2,793,576) | 2,973,117) | 2,701,848) | 2,516,320) | 2,471,948) | 2,514,801) | 2,368,580) | 2,180,599) | 2,220,175) | 2,213,339) | 2,020,539) | 1,960,633) | 1,952,315) | 1,892,538) | 1,741,575) | 1,607,710) | 1,601,414) | 1,364,738) | 1,410,772) | |||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| Gross profit margin1 | 25.98% | 26.37% | 26.67% | 26.87% | 27.10% | 26.66% | 26.20% | 25.91% | 25.67% | 25.05% | 23.88% | 23.00% | 22.49% | 22.20% | 22.62% | 22.58% | 21.58% | 18.70% | 17.40% | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | |||||||||||||||||||||||||||||
| Airbnb Inc. | — | 83.05% | 83.08% | 83.07% | 82.59% | 82.86% | 82.83% | 82.67% | 82.33% | 82.04% | 82.15% | 81.95% | 81.58% | 80.89% | 80.71% | — | — | — | — | — | — | — | |||||||
| DoorDash, Inc. | — | 49.19% | 48.31% | 47.62% | 46.93% | 46.78% | 46.86% | 46.33% | 46.03% | 45.63% | 45.50% | 47.09% | 49.23% | 51.81% | 52.17% | — | — | — | — | — | — | — | |||||||
| McDonald’s Corp. | — | 56.82% | 56.75% | 56.62% | 56.97% | 57.01% | 57.12% | 57.24% | 57.45% | 57.53% | 56.97% | 56.13% | 55.29% | 54.54% | 54.17% | 53.71% | 53.22% | 51.37% | 50.77% | — | — | — | |||||||
| Starbucks Corp. | 24.97% | 26.05% | 26.84% | 27.54% | 27.67% | 27.81% | 27.37% | 26.52% | 26.22% | 25.78% | 25.96% | 26.87% | 27.72% | 28.59% | 28.87% | 27.85% | 22.77% | 20.94% | 21.51% | 22.34% | 26.89% | 28.35% | |||||||
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q2 2025 Calculation
Gross profit margin = 100
× (Gross profitQ2 2025
+ Gross profitQ1 2025
+ Gross profitQ4 2024
+ Gross profitQ3 2024)
÷ (RevenueQ2 2025
+ RevenueQ1 2025
+ RevenueQ4 2024
+ RevenueQ3 2024)
= 100 × (838,230 + 753,622 + 704,261 + 712,181)
÷ (3,063,393 + 2,875,253 + 2,845,312 + 2,793,576)
= 25.98%
2 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several notable trends in the company's performance over the observed periods. Revenue and gross profit exhibit an overall upward trajectory, indicating growth, while the gross profit margin shows a consistent improvement, suggesting enhanced profitability efficiency.
- Revenue Trends
- Revenue figures demonstrate a steady increase from approximately 1.41 billion USD in March 2020 to over 3.06 billion USD by June 2025. This growth is relatively consistent across quarters, with minor fluctuations but an overall positive trajectory indicating expanding business operations and sales.
- Gross Profit Trends
- Gross profit follows a similar growth pattern, rising from roughly 249 million USD in March 2020 to about 838 million USD by June 2025. Despite some quarter-to-quarter fluctuations, the gross profit increases at a pace that aligns with revenue growth, showing improved absolute profitability.
- Gross Profit Margin Trends
- The gross profit margin, available from December 2020 onward, shows a clear upward trend, starting around 17.4% and reaching nearly 26% by early 2025. This sustained increase in margin percentage suggests improved cost management or pricing strategies, leading to greater efficiency in generating profit from revenue.
- Correlation Analysis
- The concurrent increase in both gross profit and the gross profit margin suggests that revenue growth is accompanied not only by higher sales volumes but also by improved profitability on each unit of revenue. This indicates effective management of cost of goods sold or favorable shifts in product mix.
- Quarterly Fluctuations
- While the general trend is positive, some quarters exhibit minor dips or slower growth periods, notably around the end of 2021 and parts of 2023. These variations may reflect seasonal effects, changing market conditions, or specific operational challenges during those times.
- Overall Assessment
- The company demonstrates robust financial health with a consistent increase in revenues and gross profits over the multi-year span. The rising gross profit margin underscores improving profitability, likely due to operational efficiencies or strategic pricing. The firm appears well-positioned to continue this positive performance trajectory based on the presented data.
Operating Profit Margin
Chipotle Mexican Grill Inc., operating profit margin calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||
| Income (loss) from operations | 559,057) | 479,250) | 415,732) | 473,256) | 586,053) | 441,292) | 363,447) | 394,950) | 431,810) | 367,606) | 296,331) | 336,253) | 337,598) | 190,221) | 158,296) | 239,680) | 245,525) | 161,442) | 116,886) | 107,096) | (4,939) | 71,121) | |||||||
| Revenue | 3,063,393) | 2,875,253) | 2,845,312) | 2,793,576) | 2,973,117) | 2,701,848) | 2,516,320) | 2,471,948) | 2,514,801) | 2,368,580) | 2,180,599) | 2,220,175) | 2,213,339) | 2,020,539) | 1,960,633) | 1,952,315) | 1,892,538) | 1,741,575) | 1,607,710) | 1,601,414) | 1,364,738) | 1,410,772) | |||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| Operating profit margin1 | 16.65% | 17.01% | 16.94% | 16.97% | 16.75% | 15.99% | 15.78% | 15.63% | 15.42% | 14.89% | 13.44% | 12.15% | 11.36% | 10.65% | 10.67% | 10.61% | 9.22% | 6.02% | 4.85% | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | |||||||||||||||||||||||||||||
| Airbnb Inc. | — | 22.17% | 23.00% | 15.01% | 15.21% | 15.86% | 15.31% | 23.42% | 21.53% | 20.69% | 21.45% | 20.46% | 17.49% | 13.17% | 7.17% | — | — | — | — | — | — | — | |||||||
| Booking Holdings Inc. | 32.85% | 32.49% | 31.83% | 27.92% | 28.39% | 28.07% | 27.31% | 31.85% | 31.29% | 29.59% | 29.85% | 28.74% | 27.56% | 23.83% | 22.78% | 16.22% | -2.86% | -11.21% | -9.28% | — | — | — | |||||||
| DoorDash, Inc. | — | 1.58% | -0.35% | -2.40% | -4.78% | -5.15% | -6.71% | -10.55% | -13.79% | -15.67% | -17.07% | -14.97% | -12.41% | -9.99% | -9.25% | — | — | — | — | — | — | — | |||||||
| McDonald’s Corp. | — | 45.22% | 45.19% | 44.90% | 45.29% | 45.99% | 45.68% | 45.68% | 45.40% | 40.96% | 40.42% | 39.48% | 39.87% | 43.71% | 44.59% | 44.84% | 44.34% | 40.33% | 38.13% | — | — | — | |||||||
| Starbucks Corp. | 12.51% | 13.96% | 14.95% | 15.92% | 16.08% | 16.64% | 16.32% | 15.31% | 14.92% | 14.26% | 14.32% | 15.33% | 16.27% | 16.92% | 16.77% | 14.56% | 7.36% | 5.42% | 6.64% | 8.67% | 14.67% | 15.88% | |||||||
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q2 2025 Calculation
Operating profit margin = 100
× (Income (loss) from operationsQ2 2025
+ Income (loss) from operationsQ1 2025
+ Income (loss) from operationsQ4 2024
+ Income (loss) from operationsQ3 2024)
÷ (RevenueQ2 2025
+ RevenueQ1 2025
+ RevenueQ4 2024
+ RevenueQ3 2024)
= 100 × (559,057 + 479,250 + 415,732 + 473,256)
÷ (3,063,393 + 2,875,253 + 2,845,312 + 2,793,576)
= 16.65%
2 Click competitor name to see calculations.
- Revenue Trends
- Revenue presents a clear upward trajectory over the analyzed periods, rising from approximately $1.41 billion in the first quarter of 2020 to an anticipated $3.06 billion by the second quarter of 2025. Despite some fluctuations, revenue growth remains consistent with no significant decline, reflecting sustained sales expansion. The increments between quarters appear to accelerate particularly from 2022 onward, indicative of robust business scaling.
- Income (Loss) from Operations
- Operating income exhibits notable volatility in 2020, including a loss of roughly $4.9 million in the second quarter of that year, but quickly rebounding to achieve over $107 million in the third quarter. Post-2020, operational income stabilizes and grows substantially, peaking near $559 million by mid-2025. This suggests effective management of operating costs and improved operational efficiency as business volume expands.
- Operating Profit Margin
- The operating profit margin shows a steady and significant increase, beginning at just under 5% in early 2020 and reaching nearly 17% by 2025. This improvement in margin indicates enhanced profitability per dollar of revenue, reflecting either improved cost control, higher pricing power, or a combination thereof. The margin growth is relatively smooth, suggesting gradually optimized operational leverage over time.
- Overall Financial Health Insight
- The combined trends of rising revenue, increasing operating income, and expanding profit margins suggest strengthening financial health and operational effectiveness. The data imply that the company is successfully scaling its operations while simultaneously improving profitability and cost management. There is strong evidence of sustained growth momentum and improved earnings quality across the analyzed periods.
Net Profit Margin
Chipotle Mexican Grill Inc., net profit margin calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||
| Net income | 436,127) | 386,599) | 331,764) | 387,388) | 455,671) | 359,287) | 282,086) | 313,217) | 341,790) | 291,644) | 223,727) | 257,138) | 259,942) | 158,294) | 133,475) | 204,434) | 187,974) | 127,101) | 190,959) | 80,244) | 8,175) | 76,388) | |||||||
| Revenue | 3,063,393) | 2,875,253) | 2,845,312) | 2,793,576) | 2,973,117) | 2,701,848) | 2,516,320) | 2,471,948) | 2,514,801) | 2,368,580) | 2,180,599) | 2,220,175) | 2,213,339) | 2,020,539) | 1,960,633) | 1,952,315) | 1,892,538) | 1,741,575) | 1,607,710) | 1,601,414) | 1,364,738) | 1,410,772) | |||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| Net profit margin1 | 13.32% | 13.59% | 13.56% | 13.51% | 13.23% | 12.70% | 12.45% | 12.27% | 12.00% | 11.49% | 10.41% | 9.61% | 9.28% | 8.74% | 8.65% | 9.88% | 8.57% | 6.44% | 5.94% | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | |||||||||||||||||||||||||||||
| Airbnb Inc. | — | 22.60% | 23.85% | 16.96% | 46.11% | 48.23% | 48.32% | 56.87% | 25.31% | 23.30% | 22.54% | 20.29% | 16.91% | 12.12% | -5.88% | — | — | — | — | — | — | — | |||||||
| Booking Holdings Inc. | 19.23% | 22.58% | 24.78% | 21.85% | 22.46% | 21.81% | 20.07% | 25.70% | 23.04% | 22.14% | 17.89% | 15.24% | 10.54% | 4.16% | 10.63% | 4.15% | 5.77% | 12.44% | 0.87% | — | — | — | |||||||
| DoorDash, Inc. | — | 3.02% | 1.15% | -1.69% | -4.24% | -4.61% | -6.46% | -12.81% | -16.47% | -18.98% | -20.74% | -14.51% | -12.17% | -9.97% | -9.57% | — | — | — | — | — | — | — | |||||||
| McDonald’s Corp. | — | 31.75% | 31.72% | 31.79% | 32.25% | 33.36% | 33.22% | 33.31% | 33.06% | 29.36% | 26.65% | 25.41% | 25.77% | 29.93% | 32.49% | 32.33% | 31.72% | 26.31% | 24.63% | — | — | — | |||||||
| Starbucks Corp. | 8.61% | 9.73% | 10.40% | 11.16% | 11.38% | 11.70% | 11.46% | 10.80% | 10.46% | 10.09% | 10.18% | 13.03% | 14.07% | 14.47% | 14.45% | 10.43% | 4.18% | 2.87% | 3.95% | 5.56% | 12.71% | 13.81% | |||||||
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q2 2025 Calculation
Net profit margin = 100
× (Net incomeQ2 2025
+ Net incomeQ1 2025
+ Net incomeQ4 2024
+ Net incomeQ3 2024)
÷ (RevenueQ2 2025
+ RevenueQ1 2025
+ RevenueQ4 2024
+ RevenueQ3 2024)
= 100 × (436,127 + 386,599 + 331,764 + 387,388)
÷ (3,063,393 + 2,875,253 + 2,845,312 + 2,793,576)
= 13.32%
2 Click competitor name to see calculations.
The financial data exhibits notable developments in net income, revenue, and net profit margin over the analyzed periods.
- Net Income Trends
- Net income demonstrates significant fluctuations initially, with a notable dip in the quarter ending June 30, 2020, followed by a swift recovery and strong growth into 2021. This period saw net income rising from 8.2 million to over 204 million US dollars. Subsequently, net income maintained elevated levels, peaking around mid-2023 and late 2024, with some quarters exceeding 400 million US dollars. Despite intermittent decreases in certain quarters, the overall trajectory from 2020 to 2025 is upward, indicating increasing profitability.
- Revenue Trends
- Revenue shows consistent expansion across the entire timeline. Starting near 1.4 billion US dollars in early 2020, revenue climbed steadily, reaching beyond 3 billion US dollars in quarters near the end of 2024 and beginning of 2025. Growth is relatively smooth, with no major contractions, reflecting sustained top-line expansion and likely increased sales activities or market penetration over the years.
- Net Profit Margin Analysis
- Reported net profit margin percentages begin with missing data but become available from the quarter ending March 31, 2021. Since that point, margins exhibit a clear upward trend, starting at 5.94% and increasing progressively to levels exceeding 13% by early 2025. This improvement indicates enhanced operational efficiency, cost management, or pricing strategy that improved profitability relative to revenue over time.
Overall, the data reveal strong growth patterns in both revenue and net income, accompanied by steady improvement in profitability margins. The upward momentum in net profit margin alongside increasing revenue suggests effectiveness in scaling the business while managing costs. Fluctuations in net income are present but do not detract from the prevailing positive trend in financial performance over the reported quarters.
Return on Equity (ROE)
Chipotle Mexican Grill Inc., ROE calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||
| Net income | 436,127) | 386,599) | 331,764) | 387,388) | 455,671) | 359,287) | 282,086) | 313,217) | 341,790) | 291,644) | 223,727) | 257,138) | 259,942) | 158,294) | 133,475) | 204,434) | 187,974) | 127,101) | 190,959) | 80,244) | 8,175) | 76,388) | |||||||
| Shareholders’ equity | 3,528,195) | 3,490,872) | 3,655,546) | 3,613,898) | 3,711,820) | 3,361,329) | 3,062,207) | 2,886,314) | 2,766,886) | 2,481,685) | 2,368,023) | 2,327,381) | 2,154,199) | 2,133,960) | 2,297,374) | 2,310,908) | 2,174,158) | 2,097,531) | 2,020,135) | 1,805,586) | 1,704,496) | 1,672,020) | |||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| ROE1 | 43.70% | 44.73% | 41.97% | 41.08% | 37.99% | 38.57% | 40.13% | 40.55% | 40.27% | 41.60% | 37.97% | 34.75% | 35.10% | 32.06% | 28.42% | 30.74% | 26.97% | 19.38% | 17.61% | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| ROE, Competitors2 | |||||||||||||||||||||||||||||
| Airbnb Inc. | — | 31.98% | 31.48% | 21.65% | 60.53% | 62.55% | 58.69% | 59.85% | 45.46% | 38.34% | 34.05% | 29.40% | 23.80% | 16.92% | -7.37% | — | — | — | — | — | — | — | |||||||
| Booking Holdings Inc. | — | — | — | — | — | — | — | — | — | 374.67% | 109.92% | 66.51% | 38.58% | 11.89% | 18.86% | 6.89% | 8.63% | 14.76% | 1.21% | — | — | — | |||||||
| DoorDash, Inc. | — | 4.04% | 1.58% | -2.27% | -5.68% | -6.00% | -8.20% | -15.92% | -19.79% | -20.85% | -20.21% | -12.89% | -9.26% | -11.29% | -10.03% | — | — | — | — | — | — | — | |||||||
| McDonald’s Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Starbucks Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q2 2025 Calculation
ROE = 100
× (Net incomeQ2 2025
+ Net incomeQ1 2025
+ Net incomeQ4 2024
+ Net incomeQ3 2024)
÷ Shareholders’ equity
= 100 × (436,127 + 386,599 + 331,764 + 387,388)
÷ 3,528,195 = 43.70%
2 Click competitor name to see calculations.
The analyzed financial data reveals several key trends in profitability and equity over the observed periods.
- Net Income Trends
- Net income exhibits considerable fluctuations quarter over quarter. Beginning with lower figures in early 2020, there is a strong rebound during the second half of 2020, notably peaking near the end of that year. The net income continues to show an upward trend with some variability throughout 2021 and 2022, reaching new heights in mid to late 2022. In 2023, net income peaks notably in the second quarter, slightly declining in subsequent quarters but remaining substantially higher than earlier years. The trend maintains strong values through 2024 and the first half of 2025, with slight decreases observed in some quarters but generally demonstrating sustained elevated earnings.
- Shareholders’ Equity Developments
- Shareholders’ equity steadily increases over the entire timeframe. Starting from a base in early 2020, the equity shows continual growth each quarter with only minor variances. The increase accelerates particularly from late 2022 through 2024, signifying consistent reinvestment or retained earnings contributing to the equity base. Although slight dips appear in some quarters toward the end of the dataset, the overall equity remains significantly higher than at the beginning of the period.
- Return on Equity (ROE) Performance
- Return on equity is reported starting from the first quarter of 2021 and reveals a marked improvement over time. Initial ROE values are robust, lying between approximately 17.6% and 30.7%. This figure rises steadily through 2021 and 2022, peaking above 40% multiple times during 2023 and maintaining this high level into 2024 and 2025. The ROE indicates efficient use of shareholders' equity to generate net income, with performance consistently enhanced over the reported quarters.
In summary, the data indicates a business demonstrating strong and improving profitability, efficient equity utilization, and a growing equity base. Net income and ROE show significant upward trends, reflecting effective management and operational performance over the analysis period.
Return on Assets (ROA)
Chipotle Mexican Grill Inc., ROA calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||
| Net income | 436,127) | 386,599) | 331,764) | 387,388) | 455,671) | 359,287) | 282,086) | 313,217) | 341,790) | 291,644) | 223,727) | 257,138) | 259,942) | 158,294) | 133,475) | 204,434) | 187,974) | 127,101) | 190,959) | 80,244) | 8,175) | 76,388) | |||||||
| Total assets | 9,268,794) | 9,044,094) | 9,204,374) | 9,011,670) | 8,919,835) | 8,411,249) | 8,044,362) | 7,911,493) | 7,552,435) | 7,053,372) | 6,927,504) | 6,817,437) | 6,545,336) | 6,467,257) | 6,652,958) | 6,627,567) | 6,320,454) | 6,149,059) | 5,982,896) | 5,631,640) | 5,370,129) | 5,206,488) | |||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| ROA1 | 16.64% | 17.26% | 16.67% | 16.47% | 15.81% | 15.41% | 15.27% | 14.79% | 14.75% | 14.64% | 12.98% | 11.86% | 11.55% | 10.58% | 9.81% | 10.72% | 9.28% | 6.61% | 5.95% | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| ROA, Competitors2 | |||||||||||||||||||||||||||||
| Airbnb Inc. | — | 10.13% | 12.63% | 8.29% | 18.40% | 20.13% | 23.21% | 25.47% | 10.85% | 10.13% | 11.80% | 10.13% | 6.55% | 4.70% | -2.57% | — | — | — | — | — | — | — | |||||||
| Booking Holdings Inc. | 15.69% | 20.00% | 21.23% | 18.00% | 17.62% | 17.31% | 17.62% | 20.68% | 16.78% | 15.96% | 12.06% | 11.06% | 6.30% | 2.32% | 4.93% | 1.64% | 1.73% | 2.97% | 0.27% | — | — | — | |||||||
| DoorDash, Inc. | — | 2.50% | 0.96% | -1.40% | -3.44% | -3.67% | -5.15% | -10.43% | -13.19% | -14.09% | -13.94% | -9.21% | -6.91% | -7.70% | -6.87% | — | — | — | — | — | — | — | |||||||
| McDonald’s Corp. | — | 14.49% | 14.90% | 14.68% | 15.44% | 16.06% | 15.08% | 16.00% | 15.86% | 13.22% | 12.25% | 12.19% | 12.35% | 13.98% | 14.01% | 13.81% | 13.29% | 10.10% | 8.99% | — | — | — | |||||||
| Starbucks Corp. | 9.89% | 11.03% | 12.00% | 13.52% | 14.16% | 14.71% | 14.01% | 13.17% | 12.43% | 11.75% | 11.73% | 14.80% | 15.19% | 15.24% | 13.38% | 9.59% | 3.51% | 2.22% | 3.16% | 4.59% | 12.33% | 13.43% | |||||||
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q2 2025 Calculation
ROA = 100
× (Net incomeQ2 2025
+ Net incomeQ1 2025
+ Net incomeQ4 2024
+ Net incomeQ3 2024)
÷ Total assets
= 100 × (436,127 + 386,599 + 331,764 + 387,388)
÷ 9,268,794 = 16.64%
2 Click competitor name to see calculations.
The financial data reveals several notable trends over the reported quarters. Net income exhibits a considerable degree of volatility but generally demonstrates an upward trajectory. Initial quarters in 2020 show fluctuations with a low point in June 2020, followed by a significant increase towards the end of 2020. This pattern continues, with net income peaking multiple times in subsequent quarters, reaching highest reported values in the mid and later quarters of 2024 and early 2025.
Total assets display a steady increase throughout the entire period. Starting from slightly above 5.2 million US dollars in the first quarter of 2020, total assets consistently grow to exceed 9.2 million US dollars by the middle of 2025. This continuous growth suggests ongoing investments and asset accumulation by the company over time.
Return on assets (ROA) metrics, calculated as percentages, are only available from the first quarter of 2021 onwards. The ROA shows a strong improving trend, starting at 5.95% and rising consistently each quarter with minor fluctuations to reach a peak of 17.26% in the third quarter of 2024, then slightly decreasing to 16.64% in the second quarter of 2025. This indicates enhanced efficiency in generating net income from the asset base over the observed period.
- Net Income
- Exhibits volatility with low points in mid-2020 and early 2021 but generally shows strong growth over time.
- Reaches peak values intermittently, with notable highs reported in 2023 and continuing into 2024 and 2025.
- Total Assets
- Demonstrate consistent and steady increase from just over 5.2 million US dollars in early 2020 to over 9.2 million US dollars by mid-2025.
- Reflects ongoing asset expansion and possibly capital investment efforts.
- Return on Assets (ROA)
- Shows a marked improvement from 5.95% to a peak of 17.26%, indicating enhanced profitability relative to asset size.
- Minor fluctuations late in the period suggest a stabilization of efficiency but at significantly higher levels compared to earlier quarters.
Overall, the data suggests a company experiencing growth in profitability and asset base, with increasing operational efficiency as reflected by the rising ROA. Although periodic fluctuations exist, the overall trend is positive, highlighting improving financial health and asset utilization over the reported time horizon.