Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
Historical Valuation Ratios (Summary)
Chipotle Mexican Grill Inc., historical price multiples (quarterly data)
Based on: 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).
- Price to Earnings (P/E) Ratio
- There is a clear trend of decreasing price to earnings ratio starting from a high of 122.18 in March 2021, declining steadily to a low near 42.75 by March 2025. This indicates that the stock price relative to earnings has been compressing over this time frame, potentially reflecting improved earnings performance or a market re-rating. However, some short-term volatility is observed, notably a temporary increase to 65.94 in June 2024 before declining again.
- Price to Operating Profit (P/OP) Ratio
- A similar downward trend is evident in the price to operating profit ratio, which started at 149.81 in March 2021 and declined consistently to around 34.15 by March 2025. This substantial reduction suggests an increasing operating profitability relative to price or a market adjustment valuing operating profits less highly. As with P/E, some fluctuations are present, such as a minor rise near mid-2024, but the overall trajectory remains downward.
- Price to Sales (P/S) Ratio
- The price to sales ratio demonstrates more volatility than the P/E and P/OP ratios. It initially decreased from 7.26 in March 2021 to 4.86 by December 2021, reflecting either sales growth outpacing price increases or a market devaluation. Subsequently, there was a notable rebound to 8.38 in June 2024, followed by a decline to 5.81 by March 2025. This pattern suggests fluctuating investor sentiment or changes in sales momentum within the periods observed.
- Price to Book Value (P/BV) Ratio
- The price to book value ratio exhibits less consistent movement compared to the other valuation metrics. Starting at 14.72 in March 2020, it rose steadily to a peak around 23.66 in June 2021, declined somewhat and plateaued in the 17-22 range through early 2023. From mid-2023 onward, the ratio increased again reaching a high near 25.43 by June 2024 before slightly reducing to 19.12 by March 2025. This variability may indicate changes in asset valuation or investor perception of the company's net worth relative to market price over time.
- Summary
- Overall, valuation ratios tied to earnings and operating profit show a clear downward trend over the observed period, implying improving profitability or a market shift in valuation multiples. The price to sales and price to book value ratios display more variability, reflecting fluctuating sales performance and asset valuation considerations. The data suggests dynamic market factors and company fundamentals affecting the valuation metrics in differing ways.
Price to Earnings (P/E)
Chipotle Mexican Grill Inc., historical P/E calculation (quarterly data)
| 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 1,347,364,000 | 1,355,337,000 | 1,362,593,000 | 1,369,476,000 | 1,373,350,000 | 1,371,058,450 | 1,372,233,000 | 1,379,380,650 | 1,379,492,000 | 1,381,092,350 | 1,386,055,600 | 1,388,232,350 | 1,398,122,400 | 1,401,597,400 | 1,406,770,300 | 1,404,743,400 | 1,407,523,950 | 1,407,203,250 | 1,399,017,450 | 1,398,381,250 | 1,394,537,050 | |||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||
| Net income (in thousands) | 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) | |||||||
| Earnings per share (EPS)2 | 1.16 | 1.13 | 1.09 | 1.03 | 0.94 | 0.90 | 0.85 | 0.81 | 0.75 | 0.65 | 0.58 | 0.54 | 0.49 | 0.47 | 0.51 | 0.42 | 0.29 | 0.25 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 49.54 | 57.51 | 55.73 | 50.82 | 62.24 | 52.41 | 37.75 | 38.25 | 40.73 | 32.14 | 29.52 | 30.20 | 30.02 | 31.23 | 35.32 | 36.62 | 29.68 | 30.89 | 25.07 | 23.06 | 17.65 | |||||||
| Valuation Ratio | ||||||||||||||||||||||||||||
| P/E ratio4 | 42.75 | 50.81 | 51.16 | 49.35 | 65.94 | 58.48 | 44.26 | 47.35 | 54.42 | 49.37 | 50.59 | 55.45 | 61.35 | 67.03 | 69.94 | 87.74 | 102.77 | 122.18 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| P/E Ratio, Competitors5 | ||||||||||||||||||||||||||||
| Airbnb Inc. | 30.61 | 33.58 | 50.83 | 17.28 | 20.59 | 20.59 | 14.19 | 39.65 | 40.05 | 44.53 | 36.29 | 59.77 | 96.17 | — | — | — | — | — | — | — | — | |||||||
| Booking Holdings Inc. | 29.37 | 28.00 | 29.34 | 24.42 | 24.55 | 31.09 | 18.68 | 22.74 | 23.90 | 29.87 | 28.26 | 50.57 | 164.32 | 86.68 | 261.79 | 206.85 | 136.53 | 1,696.44 | — | — | — | |||||||
| McDonald’s Corp. | 27.33 | 27.00 | 25.61 | 23.42 | 22.51 | 25.23 | 23.23 | 26.39 | 31.34 | 31.22 | 34.24 | 31.53 | 25.65 | 24.15 | 25.57 | 25.43 | 33.98 | 33.31 | — | — | — | |||||||
| Starbucks Corp. | 32.43 | 29.62 | 21.14 | 24.11 | 24.81 | 29.09 | 30.66 | 36.91 | 37.77 | 34.26 | 23.05 | 19.34 | 25.86 | 30.95 | 52.55 | 137.44 | 185.40 | 118.26 | 65.20 | 27.12 | 27.92 | |||||||
Based on: 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 Data adjusted for splits and stock dividends.
2 Q1 2025 Calculation
EPS
= (Net incomeQ1 2025
+ Net incomeQ4 2024
+ Net incomeQ3 2024
+ Net incomeQ2 2024)
÷ No. shares of common stock outstanding
= (386,599,000 + 331,764,000 + 387,388,000 + 455,671,000)
÷ 1,347,364,000 = 1.16
3 Closing price as at the filing date of Chipotle Mexican Grill Inc. Quarterly or Annual Report.
4 Q1 2025 Calculation
P/E ratio = Share price ÷ EPS
= 49.54 ÷ 1.16 = 42.75
5 Click competitor name to see calculations.
The financial data reveals several noteworthy trends over the period from March 31, 2020, to March 31, 2025.
- Share Price
- The share price exhibited a general upward trend despite some fluctuations. Starting at $17.65 in March 2020, it rose significantly to reach $30.89 by the end of 2020. The price showed a relatively stable range in 2021 and early 2022, hovering around $30 to $36. From 2023 onward, the share price increased more markedly, peaking at $62.24 in March 2024 before experiencing a moderate decline to $49.54 by March 2025. This indicates positive investor sentiment and growth expectations over the longer term, with increased volatility nearer to the end of the period.
- Earnings Per Share (EPS)
- EPS data begins from December 2020, starting at $0.25 and demonstrating steady improvement quarter over quarter. By March 2025, EPS more than quadrupled, reaching $1.16. This consistent growth reflects strong earnings performance and suggests that the company has been able to enhance profitability steadily during these years.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio, available from December 2020, started at a high level of approximately 122, indicating very high investor expectations relative to earnings at that time. Throughout the subsequent quarters, the ratio dropped substantially, settling in the range of 40 to 70, with some fluctuations. The decrease in P/E ratio suggests that earnings growth outpaced the share price appreciation during much of the period, implying improving valuation metrics and a potential stabilization of investor valuation expectations over time.
Overall, the data indicates a positive earnings trajectory accompanied by a notable appreciation in share price, though the valuation multiples have moderated from previously high levels. The trends reflect an underlying strengthening in fundamental financial performance alongside a maturing market perception of the company’s growth prospects.
Price to Operating Profit (P/OP)
Chipotle Mexican Grill Inc., historical P/OP calculation (quarterly data)
| 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 1,347,364,000 | 1,355,337,000 | 1,362,593,000 | 1,369,476,000 | 1,373,350,000 | 1,371,058,450 | 1,372,233,000 | 1,379,380,650 | 1,379,492,000 | 1,381,092,350 | 1,386,055,600 | 1,388,232,350 | 1,398,122,400 | 1,401,597,400 | 1,406,770,300 | 1,404,743,400 | 1,407,523,950 | 1,407,203,250 | 1,399,017,450 | 1,398,381,250 | 1,394,537,050 | |||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||
| Income (loss) from operations (in thousands) | 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) | |||||||
| Operating profit per share2 | 1.45 | 1.41 | 1.37 | 1.30 | 1.19 | 1.14 | 1.09 | 1.04 | 0.97 | 0.84 | 0.74 | 0.67 | 0.60 | 0.57 | 0.54 | 0.45 | 0.27 | 0.21 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 49.54 | 57.51 | 55.73 | 50.82 | 62.24 | 52.41 | 37.75 | 38.25 | 40.73 | 32.14 | 29.52 | 30.20 | 30.02 | 31.23 | 35.32 | 36.62 | 29.68 | 30.89 | 25.07 | 23.06 | 17.65 | |||||||
| Valuation Ratio | ||||||||||||||||||||||||||||
| P/OP ratio4 | 34.15 | 40.67 | 40.74 | 38.97 | 52.39 | 46.13 | 34.75 | 36.84 | 42.00 | 38.25 | 40.02 | 45.28 | 50.34 | 54.38 | 65.08 | 81.53 | 109.79 | 149.81 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | ||||||||||||||||||||||||||||
| Airbnb Inc. | 31.20 | 34.83 | 57.42 | 52.39 | 62.62 | 65.01 | 34.45 | 46.61 | 45.09 | 46.78 | 35.98 | 57.78 | 88.47 | 232.24 | — | — | — | — | — | — | — | |||||||
| Booking Holdings Inc. | 20.41 | 21.80 | 22.96 | 19.32 | 19.08 | 22.85 | 15.07 | 16.75 | 17.88 | 17.91 | 14.98 | 19.34 | 28.66 | 40.46 | 66.89 | — | — | — | — | — | — | |||||||
| McDonald’s Corp. | 19.19 | 18.95 | 18.13 | 16.68 | 16.33 | 18.35 | 16.94 | 19.22 | 22.47 | 20.58 | 22.04 | 20.38 | 17.56 | 17.59 | 18.44 | 18.19 | 22.17 | 21.51 | — | — | — | |||||||
| Starbucks Corp. | 22.61 | 20.60 | 14.82 | 17.06 | 17.45 | 20.44 | 21.64 | 25.87 | 26.73 | 24.35 | 19.58 | 16.72 | 22.12 | 26.68 | 37.64 | 77.96 | 98.18 | 70.29 | 41.82 | 23.50 | 24.29 | |||||||
Based on: 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 Data adjusted for splits and stock dividends.
2 Q1 2025 Calculation
Operating profit per share
= (Income (loss) from operationsQ1 2025
+ Income (loss) from operationsQ4 2024
+ Income (loss) from operationsQ3 2024
+ Income (loss) from operationsQ2 2024)
÷ No. shares of common stock outstanding
= (479,250,000 + 415,732,000 + 473,256,000 + 586,053,000)
÷ 1,347,364,000 = 1.45
3 Closing price as at the filing date of Chipotle Mexican Grill Inc. Quarterly or Annual Report.
4 Q1 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 49.54 ÷ 1.45 = 34.15
5 Click competitor name to see calculations.
- Share Price Trends
- Share price exhibited an overall upward trajectory from March 2020 to March 2025. Starting at $17.65 in March 2020, it increased steadily, with some volatility, reaching a peak of $62.24 in March 2024. After this peak, the price experienced some fluctuations but remained elevated relative to the initial value, ending at $49.54 in March 2025. Notable increases occurred between December 2021 and March 2024, with a particularly sharp rise from December 2023 ($52.41) to March 2024 ($62.24). The share price demonstrated resilience through various periods, indicating growing investor confidence or improved market perceptions over the timeframe considered.
- Operating Profit per Share (OP per Share) Developments
- Operating profit per share data was unavailable until March 2021, from which point it showed a consistent and steady increase across all quarterly periods. Starting at $0.21 in March 2021, this metric nearly septupled by March 2025, reaching $1.45. The growth was generally smooth quarter-over-quarter, suggesting continuous operational improvements or enhanced profitability per share during the five-year span.
- Price-to-Operating-Profit Ratio (P/OP) Analysis
- The price-to-operating-profit ratio began at a high level of 149.81 in March 2021, implying that the share price was very high relative to the operating earnings per share at that time. This ratio declined significantly over subsequent quarters, indicating that either operating profit per share increased at a faster rate than the share price or that share price growth was moderate in comparison. By March 2023, the ratio stabilized around the high 30s to low 40s, with some fluctuations continuing thereafter. However, there were spikes in the ratio notably in December 2023 (46.13) and June 2024 (52.39), pointing to temporarily higher market valuations relative to operating profit during these quarters. Overall, the decreasing trend from over 140 to the 30s and 40s illustrates improved market alignment with operating profit growth, reducing prior valuation premiums.
- Summary of Interrelated Trends
- The increasing operating profit per share combined with a generally rising share price reflects positive financial health and market confidence. While the share price rose substantially, the faster growth in operating profit per share resulted in a declining valuation multiple, suggesting that earnings performance was a key driver of investor expectations during the period. The occasional upticks in the P/OP ratio highlight moments of heightened market optimism or valuation premiums, but the long-term trend signals a maturing valuation more closely reflecting underlying operating profitability.
Price to Sales (P/S)
Chipotle Mexican Grill Inc., historical P/S calculation (quarterly data)
| 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 1,347,364,000 | 1,355,337,000 | 1,362,593,000 | 1,369,476,000 | 1,373,350,000 | 1,371,058,450 | 1,372,233,000 | 1,379,380,650 | 1,379,492,000 | 1,381,092,350 | 1,386,055,600 | 1,388,232,350 | 1,398,122,400 | 1,401,597,400 | 1,406,770,300 | 1,404,743,400 | 1,407,523,950 | 1,407,203,250 | 1,399,017,450 | 1,398,381,250 | 1,394,537,050 | |||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||
| Revenue (in thousands) | 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) | |||||||
| Sales per share2 | 8.53 | 8.35 | 8.06 | 7.79 | 7.43 | 7.20 | 6.95 | 6.73 | 6.51 | 6.25 | 6.07 | 5.87 | 5.60 | 5.38 | 5.11 | 4.87 | 4.49 | 4.25 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 49.54 | 57.51 | 55.73 | 50.82 | 62.24 | 52.41 | 37.75 | 38.25 | 40.73 | 32.14 | 29.52 | 30.20 | 30.02 | 31.23 | 35.32 | 36.62 | 29.68 | 30.89 | 25.07 | 23.06 | 17.65 | |||||||
| Valuation Ratio | ||||||||||||||||||||||||||||
| P/S ratio4 | 5.81 | 6.89 | 6.91 | 6.53 | 8.38 | 7.28 | 5.43 | 5.68 | 6.25 | 5.14 | 4.86 | 5.15 | 5.36 | 5.80 | 6.91 | 7.52 | 6.61 | 7.26 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| P/S Ratio, Competitors5 | ||||||||||||||||||||||||||||
| Airbnb Inc. | 6.92 | 8.01 | 8.62 | 7.97 | 9.93 | 9.95 | 8.07 | 10.03 | 9.33 | 10.04 | 7.36 | 10.11 | 11.65 | 16.64 | — | — | — | — | — | — | — | |||||||
| Booking Holdings Inc. | 6.63 | 6.94 | 6.41 | 5.48 | 5.36 | 6.24 | 4.80 | 5.24 | 5.29 | 5.35 | 4.30 | 5.33 | 6.83 | 9.22 | 10.85 | 11.93 | 16.99 | 14.73 | — | — | — | |||||||
| McDonald’s Corp. | 8.68 | 8.56 | 8.14 | 7.55 | 7.51 | 8.38 | 7.74 | 8.72 | 9.20 | 8.32 | 8.70 | 8.13 | 7.68 | 7.85 | 8.27 | 8.07 | 8.94 | 8.20 | — | — | — | |||||||
| Starbucks Corp. | 3.16 | 3.08 | 2.36 | 2.74 | 2.90 | 3.34 | 3.31 | 3.86 | 3.81 | 3.49 | 3.00 | 2.72 | 3.74 | 4.47 | 5.48 | 5.74 | 5.32 | 4.67 | 3.63 | 3.45 | 3.86 | |||||||
Based on: 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 Data adjusted for splits and stock dividends.
2 Q1 2025 Calculation
Sales per share
= (RevenueQ1 2025
+ RevenueQ4 2024
+ RevenueQ3 2024
+ RevenueQ2 2024)
÷ No. shares of common stock outstanding
= (2,875,253,000 + 2,845,312,000 + 2,793,576,000 + 2,973,117,000)
÷ 1,347,364,000 = 8.53
3 Closing price as at the filing date of Chipotle Mexican Grill Inc. Quarterly or Annual Report.
4 Q1 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= 49.54 ÷ 8.53 = 5.81
5 Click competitor name to see calculations.
- Share Price Trend
- The share price shows a general upward trajectory from the beginning of the observed period, starting at $17.65 in March 2020, with notable increases and some fluctuations thereafter. It peaks at $62.24 in March 2024, evidencing strong growth over four years, followed by some volatility and a decline to $49.54 by March 2025. The volatility is especially apparent from mid-2023 to 2025, indicating periods of market uncertainty or reactive trading.
- Sales Per Share Development
- Sales per share data begins in March 2021, showing continuous quarterly growth from $4.25 to $8.53 by March 2025. This steady increase reflects improving operational performance and revenue generation on a per-share basis, more than doubling over four years. The consistent quarter-over-quarter growth suggests successful business expansion or increased efficiency.
- Price-to-Sales (P/S) Ratio Dynamics
- The P/S ratio starts at a high level of 7.26 in March 2021, followed by a decrease and fluctuations, suggesting varying market valuation relative to sales. It declines to a low of 4.86 in December 2021, then fluctuates before reaching a peak of 8.38 in March 2024. After this peak, the ratio decreases again to 5.81 by March 2025. The P/S ratio variability reflects changing investor sentiment, valuation adjustments, or changes in market expectations relative to sales growth.
- Comparative Insights
- While sales per share demonstrate steady growth, the share price and P/S ratio show more volatility. The share price increases broadly in line with sales growth but with sharper peaks and troughs, suggesting that market sentiment and other external factors also strongly influence price movements. The P/S ratio’s wide range indicates the market periodically reassesses the premium it assigns to sales, possibly influenced by broader economic conditions or company-specific news.
Price to Book Value (P/BV)
Chipotle Mexican Grill Inc., historical P/BV calculation (quarterly data)
| 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 1,347,364,000 | 1,355,337,000 | 1,362,593,000 | 1,369,476,000 | 1,373,350,000 | 1,371,058,450 | 1,372,233,000 | 1,379,380,650 | 1,379,492,000 | 1,381,092,350 | 1,386,055,600 | 1,388,232,350 | 1,398,122,400 | 1,401,597,400 | 1,406,770,300 | 1,404,743,400 | 1,407,523,950 | 1,407,203,250 | 1,399,017,450 | 1,398,381,250 | 1,394,537,050 | |||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||
| Shareholders’ equity (in thousands) | 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) | |||||||
| Book value per share (BVPS)2 | 2.59 | 2.70 | 2.65 | 2.71 | 2.45 | 2.23 | 2.10 | 2.01 | 1.80 | 1.71 | 1.68 | 1.55 | 1.53 | 1.64 | 1.64 | 1.55 | 1.49 | 1.44 | 1.29 | 1.22 | 1.20 | |||||||
| Share price1, 3 | 49.54 | 57.51 | 55.73 | 50.82 | 62.24 | 52.41 | 37.75 | 38.25 | 40.73 | 32.14 | 29.52 | 30.20 | 30.02 | 31.23 | 35.32 | 36.62 | 29.68 | 30.89 | 25.07 | 23.06 | 17.65 | |||||||
| Valuation Ratio | ||||||||||||||||||||||||||||
| P/BV ratio4 | 19.12 | 21.32 | 21.01 | 18.75 | 25.43 | 23.47 | 17.95 | 19.07 | 22.64 | 18.74 | 17.58 | 19.46 | 19.67 | 19.05 | 21.50 | 23.66 | 19.92 | 21.52 | 19.42 | 18.92 | 14.72 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | ||||||||||||||||||||||||||||
| Airbnb Inc. | 9.79 | 10.57 | 11.01 | 10.46 | 12.88 | 12.09 | 8.49 | 18.03 | 15.36 | 15.16 | 10.67 | 14.23 | 16.27 | 20.88 | 28.80 | 28.30 | 27.60 | — | — | — | — | |||||||
| Booking Holdings Inc. | — | — | — | — | — | — | — | — | 89.53 | 32.84 | 18.79 | 19.51 | 19.54 | 16.35 | 18.03 | 17.84 | 20.15 | 20.46 | 14.74 | 17.94 | 15.43 | |||||||
| McDonald’s Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Starbucks Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 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 Data adjusted for splits and stock dividends.
2 Q1 2025 Calculation
BVPS = Shareholders’ equity ÷ No. shares of common stock outstanding
= 3,490,872,000 ÷ 1,347,364,000 = 2.59
3 Closing price as at the filing date of Chipotle Mexican Grill Inc. Quarterly or Annual Report.
4 Q1 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= 49.54 ÷ 2.59 = 19.12
5 Click competitor name to see calculations.
The share price of the company demonstrates a general upward trend over the observed periods, despite experiencing some fluctuations. Starting at $17.65 in March 2020, the share price steadily increases through to December 2020, reaching $30.89. This growth continues, with minor volatility, peaking notably at $62.24 in March 2024 before experiencing a slight decline to $49.54 by March 2025. This pattern suggests positive market sentiment overall, with periods of correction and readjustment.
Book value per share (BVPS) shows a consistent upward trajectory throughout the periods analyzed. Beginning at $1.20 in March 2020, the BVPS increases gradually without any declines, reaching $2.59 by March 2025. This steady growth in BVPS indicates continuous accumulation of equity and possibly reinvestment of earnings, reflecting a strengthening financial foundation of the company over time.
The Price to Book Value (P/BV) ratio exhibits more variability compared to the share price and BVPS. Initially high at 14.72 in March 2020, the ratio peaks at 23.66 in June 2021, then decreases to 17.58 by September 2022, indicating phases of market revaluation relative to the company's book value. The P/BV ratio climbs again sharply to a high of 25.43 by March 2024, coinciding with the share price peak in the same period, before decreasing moderately to 19.12 by March 2025. These fluctuations in the P/BV ratio suggest changing investor perceptions about the company's valuation, sometimes paying a premium far above book value and at other times practicing more conservative market pricing.
In summary, the data reveal sustained growth in the company's intrinsic value as represented by BVPS and an overall appreciation in share price, with corresponding oscillations in market valuation multiples reflected in the P/BV ratio. This pattern may indicate a healthy financial condition amid dynamic market valuation influenced by external factors or investor sentiment.
- Share Price
- Shows a strong increasing trend from $17.65 to a peak of $62.24 followed by a mild decline to $49.54.
- Book Value per Share
- Consistently increases across all periods, nearly doubling from $1.20 to $2.59.
- Price to Book Value Ratio
- Fluctuates significantly, with highs above 23 and lows near 17, reflecting changing market valuations.