Chipotle (CMG): analysis in plain words
Is Chipotle cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Chipotle (CMG) is listed on the NYSE and we classify it in restaurants. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Chipotle according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Chipotle (CMG) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $35.20 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 32.9x | Price over earnings per share |
| Revenue growth | +9.6% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 10.8% | Profit for every 100 of sales |
| Net debt / EBITDA | 2.1x | Years of operating profit to repay debt |
| Dividend yield | 0.00% | Annual dividend over price |
| Market cap | $44.5 billion | What the stock market values it at |
The Chipotle figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any CMG figure that is not available shows as N/A: we do not estimate it.
How Chipotle makes money
Chipotle Mexican Grill runs its own fast-casual Mexican restaurants rather than franchising them, selling made-to-order burritos, bowls, tacos and salads in store and through its app. Nearly all revenue comes from food and beverage sales, with delivery fees making up the rest. Most locations are in the United States.
Over the last 12 months, Chipotle brought in revenue of $12.7 billion. For every 100 it sells, Chipotle keeps 39.3 after the direct cost of what it sells (gross margin) and 14.1 after all operating costs (operating margin). With 140,000 full-time employees, that is about $91,000 of revenue per employee.
Chipotle against its sector
To know whether a Chipotle figure is high or low you have to put it next to similar companies. This table compares Chipotle with the median of the 4 restaurants companies Fintols covers, with data as of November 4, 2026.
| Figure | Chipotle | restaurants median |
|---|---|---|
| P/E | 32.9x | 27.8x (4) |
| Revenue growth | +9.6% | +6.6% (4) |
| Net margin | 10.8% | 18.1% (4) |
| Dividend yield | 0.00% | 2.16% (4) |
| Net debt / EBITDA | 2.1x | 3.4x (4) |
In short, against the typical restaurants company, Chipotle trades on a higher P/E, grows faster and earns a thinner margin. By size, Chipotle ranks number 4 of 4 restaurants companies quoted in USD on Fintols.
The bull case for Chipotle
These are the strengths in the Chipotle figures as of November 4, 2026:
- Chipotle earns 48.5% a year on its shareholders' money (return on equity).
- Analysts expect Chipotle earnings to rise: its P/E on the next 12 months of estimated earnings is 26.5x, below the current 32.9x.
- Chipotle is selling more than a year ago: +9.6% in its latest quarter (the typical restaurants company grew +6.6%).
The main risk for Chipotle
The Chipotle figures as of November 4, 2026 show no clear red flag (no heavy debt, no losses, no falling sales). Its main risk is the one built into its business: rising wages and food costs, and customers eating out less.
Frequently asked questions about Chipotle
Is it a good time to buy Chipotle stock?
Fintols does not tell you whether to buy or sell Chipotle, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Chipotle stock trades at $35.20, 15% below its 52-week high ($41.42) and 29% above its low ($27.31). Its P/E is 32.9x against a restaurants median of 27.8x, and 26.5x on the earnings analysts expect over the next 12 months. With Chipotle, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Chipotle pay a dividend?
No. As of November 4, 2026, Chipotle does not pay a dividend: what it earns stays in the company to grow, invest or, where it does so, buy back shares. Anyone buying Chipotle today is counting on the share price rising, not on income.
Is Chipotle stock expensive?
It depends on what you compare it with. On P/E, Chipotle trades at 32.9x its last 12 months of earnings: more expensive than the restaurants median (27.8x). Including its debt, Chipotle is valued at 20.7x its EBITDA (EV/EBITDA). A high P/E alone does not make Chipotle expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Chipotle's competitors?
On Fintols we compare Chipotle with Starbucks, Yum! Brands and McDonald's, which are also in restaurants. As of November 4, 2026, Starbucks is worth $125.1 billion and trades on a P/E of 49.6; Yum! Brands is worth $44.7 billion and trades on a P/E of 13.4; McDonald's is worth $198.3 billion and trades on a P/E of 22.8. Each has a side-by-side comparison with Chipotle below.
Chipotle competitors
- Starbucks (SBUX) analysis · Chipotle vs Starbucks comparison
- Yum! Brands (YUM) analysis · Chipotle vs Yum! Brands comparison
- McDonald's (MCD) analysis · Chipotle vs McDonald's comparison
To understand Chipotle better
- Economic Moats Explained: From Warren Buffett to AI
- P/E Ratio and EPS Explained: How to Read Them Without Traps
More companies like Chipotle: restaurants stocks and S&P 500 companies. Open the full CMG analysis with its valuation and scenarios. Educational content about Chipotle, not investment advice.