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Chipotle Mexican Grill

Chipotle Mexican Grill's net profit rose 83.5% yoy to USD 653 mil in 2021

By Helgi Library - May 10, 2022

Chipotle Mexican Grill made a net profit of USD 653 mil in 2021, up 83.5% compared to the previous year. Total sales reached USD 7,5...

Chipotle Mexican Grill's net profit rose 83.5% yoy to USD 653 mil in 2021

By Helgi Library - May 10, 2022

Chipotle Mexican Grill made a net profit of USD 653 mil with revenues of USD 7,547 mil in 2021, up by 83.5% and up by 2...

Chipotle Mexican Grill's price/earnings (P/E) fell 31.1% yoy to 76.3 in 2021

By Helgi Library - May 10, 2022

Chipotle Mexican Grill stock traded at USD 1,748 per share at the end 2021 translating into a market capitalization of USD 49,091 mil. ...

Profit Statement 2025 2026 2027
Sales USD mil 13,065 14,896 16,575
Gross Profit USD mil 3,618 4,323 4,871
EBITDA USD mil 2,811 3,439 3,839
EBIT USD mil 2,435 3,010 3,350
Financing Cost USD mil ... ... ...
Pre-Tax Profit USD mil 2,382 2,989 3,372
Net Profit USD mil 1,778 2,229 2,530
Dividends USD mil 0 0 0
Balance Sheet 2025 2026 2027
Total Assets USD mil 8,899 9,395 9,909
Non-Current Assets USD mil 6,848 7,175 7,519
Current Assets USD mil 2,050 2,220 2,391
Working Capital USD mil -34.2 -35.1 -35.9
Shareholders' Equity USD mil 6,381 8,053 9,954
Liabilities USD mil 2,518 1,342 -44.7
Total Debt USD mil 3,560 3,570 3,580
Net Debt USD mil 1,610 1,470 1,330
Ratios 2025 2026 2027
ROE % 34.3 30.9 28.1
ROCE % 27.0 31.9 34.6
Gross Margin % 27.7 29.0 29.4
EBITDA Margin % 21.5 23.1 23.2
EBIT Margin % 18.6 20.2 20.2
Net Margin % 13.6 15.0 15.3
Net Debt/EBITDA 0.573 0.427 0.346
Net Debt/Equity % 25.2 18.2 13.4
Cost of Financing % ... ... ...
Valuation 2025 2026 2027
Market Capitalisation USD mil 37,863 37,863 37,863
Enterprise Value (EV) USD mil 39,473 39,333 39,193
Number Of Shares mil 28.5 28.5 28.5
Share Price USD 1,328 1,328 1,328
EV/EBITDA 14.0 11.4 10.2
EV/Sales 3.02 2.64 2.36
Price/Earnings (P/E) 21.3 17.0 15.0
Price/Book Value (P/BV) 5.93 4.70 3.80
Dividend Yield % 0 0 0

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overview Unit 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
income statement                                  
Sales USD mil           3,904 4,476 4,865 5,586 5,985              
Gross Profit USD mil           498 756 911 1,142 1,041              
EBIT USD mil           34.6 271 258 444 290              
Net Profit USD mil           22.9 176 177 350 356              
                                     
ROE % ...         1.30 12.7 12.6 22.4 19.2              
EBIT Margin %           0.885 6.05 5.31 7.95 4.85              
Net Margin %           0.587 3.94 3.63 6.27 5.94              
Employees           64,570 68,890 73,000 83,000 88,000   ... ... ... ... ... ...
balance sheet                                  
Total Assets USD mil           2,026 2,046 2,266 5,105 5,983              
Non-Current Assets USD mil           1,504 1,416 1,451 4,032 4,563              
Current Assets USD mil           522 630 815 1,072 1,420              
                                     
Shareholders' Equity USD mil           1,402 1,364 1,441 1,683 2,020              
Liabilities USD mil           624 681 824 3,422 3,963              
Non-Current Liabilities USD mil           342 357 374 2,755 3,141              
Current Liabilities USD mil           282 324 450 667 822              
                                     
Net Debt/EBITDA           -2.29 -1.17 -1.47 2.05 2.57              
Net Debt/Equity %           -29.6 -37.1 -46.8 117 109              
Cost of Financing % ... ... ... ...   0 ... ... ... ... ... ... ... ... ... ... ...
cash flow                                  
Total Cash From Operations USD mil           355 468 622 722 664              
Total Cash From Investing USD mil           327 -86.6 -388 -292 -433              
Total Cash From Financing USD mil           -836 -286 -167 -202 -105              
Net Change In Cash USD mil           -154 97.8 66.0 228 127              
valuation                                  
Market Capitalisation USD mil ... ... ... ... ... ... 8,100 11,959 23,234 38,829              
Enterprise Value (EV) USD mil ... ... ... ... ... ... 7,594 11,285 25,207 41,035              
Number Of Shares mil ... ... ... ... ... ... 28.6 28.0 28.3 28.4              
Share Price USD ... ... ... ... ... ... 289 432 837 1,387              
Price/Earnings (P/E) ... ... ... ... ... ... 46.8 68.4 67.6 111              
Price/Cash Earnings (P/CE) ... ... ... ... ... ... ... ... ... ... ...            
EV/EBITDA ... ... ... ... ... ... 17.5 24.5 26.2 47.8              
Price/Book Value (P/BV) ... ... ... ... ... ... 6.05 8.38 14.1 19.5              
Dividend Yield % ... ... ... ... ... ... 0 0 0 0              
income statement Unit 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
income statement                                  
Sales USD mil           3,904 4,476 4,865 5,586 5,985              
Cost of Goods & Services USD mil           3,406 3,720 3,954 4,444 4,944              
Gross Profit USD mil           498 756 911 1,142 1,041              
Selling, General & Admin USD mil           379 403 487 620 689   ... ... ... ... ... ...
Research & Development USD mil           0 0 0 0 0   ... ... ... ... ... ...
Other Operating Expense USD mil           -61.9 -80.7 -36.5 -135 -177   ... ... ... ... ... ...
Other Operating Cost (Income) USD mil           0 0 0 0 0   ... ... ... ... ... ...
EBITDA USD mil           181 434 460 962 859              
Depreciation USD mil ... ... ... ... ... ... ... ... ... ... ...            
EBIT USD mil           34.6 271 258 444 290              
Net Financing Cost USD mil           -4.17 -4.95 -10.1 -14.3 -3.62              
Financing Cost USD mil ... ... ... ...   0 ... ... ... ... ... ... ... ... ... ... ...
Financing Income USD mil ... ... ... ... ... 4.17 4.95 ... ... ... ... ... ... ... ... ... ...
FX (Gain) Loss USD mil           0 0 0 0 0   ... ... ... ... ... ...
Extraordinary Cost USD mil           0 0 0 0 0   ... ... ... ... ... ...
Pre-Tax Profit USD mil           38.7 276 268 458 294              
Tax USD mil           15.8 99.5 91.9 108 -62.0              
Minorities USD mil           0 0 0 0 0              
Net Profit USD mil           22.9 176 177 350 356              
Net Profit Avail. to Common USD mil           22.9 176 177 350 356              
Dividends USD mil           0 0 0 0 0              
growth rates                                  
Total Revenue Growth % ...         -13.3 14.7 8.68 14.8 7.13              
Operating Cost Growth % ...         12.9 4.70 34.4 7.03 7.50   ... ... ... ... ... ...
EBITDA Growth % ...         -79.8 140 6.04 109 -10.7              
EBIT Growth % ...         -95.5 683 -4.59 71.8 -34.6              
Pre-Tax Profit Growth % ...         -95.0 612 -2.65 70.7 -35.9              
Net Profit Growth % ...         -95.2 668 0.170 98.3 1.60              
ratios                                  
ROE % ...         1.30 12.7 12.6 22.4 19.2              
ROA % ...         0.966 8.66 8.19 9.50 6.42              
ROCE % ...         1.37 12.3 12.5 12.9 8.28              
Gross Margin %           12.8 16.9 18.7 20.5 17.4              
EBITDA Margin %           4.63 9.70 9.46 17.2 14.4              
EBIT Margin %           0.885 6.05 5.31 7.95 4.85              
Net Margin %           0.587 3.94 3.63 6.27 5.94              
Payout Ratio %           0 0 0 0 0              
Cost of Financing % ... ... ... ...   0 ... ... ... ... ... ... ... ... ... ... ...
Net Debt/EBITDA           -2.29 -1.17 -1.47 2.05 2.57              
balance sheet Unit 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
balance sheet                                  
Cash & Cash Equivalents USD mil           418 509 677 881 952              
Receivables USD mil           40.5 40.5 62.3 80.5 105              
Inventories USD mil           15.0 19.9 21.6 26.1 26.4              
Other ST Assets USD mil           49.2 60.3 54.1 84.8 338              
Current Assets USD mil           522 630 815 1,072 1,420              
Property, Plant & Equipment USD mil           1,304 1,338 1,379 3,964 4,352              
LT Investments & Receivables USD mil           125 0 0 0 102              
Intangible Assets USD mil           21.9 21.9 21.9 21.9 21.9              
Goodwill USD mil           21.9 21.9 21.9 21.9 21.9              
Non-Current Assets USD mil           1,504 1,416 1,451 4,032 4,563              
Total Assets USD mil           2,026 2,046 2,266 5,105 5,983              
                                     
Trade Payables USD mil           78.4 82.0 113 116 122              
Short-Term Debt USD mil           0 0 0 173 205              
Other ST Liabilities USD mil           0 0 70.5 95.2 128              
Current Liabilities USD mil           282 324 450 667 822              
Long-Term Debt USD mil           2.85 2.63 2.39 2,681 2,952              
Other LT Liabilities USD mil           339 355 372 74.2 188              
Non-Current Liabilities USD mil           342 357 374 2,755 3,141              
Liabilities USD mil           624 681 824 3,422 3,963              
Preferred Equity and Hybrid Capital USD mil           0 0 0 0 0              
Share Capital USD mil           1,239 1,305 1,375 1,466 1,550              
Treasury Stock USD mil           2,049 2,334 2,501 2,699 2,802              
Equity Before Minority Interest USD mil           1,402 1,364 1,441 1,683 2,020              
Minority Interest USD mil           0 0 0 0 0              
Equity USD mil           1,402 1,364 1,441 1,683 2,020              
growth rates                                  
Total Asset Growth % ...         -25.6 0.967 10.7 125 17.2              
Shareholders' Equity Growth % ...         -34.1 -2.71 5.64 16.8 20.0              
Net Debt Growth % ...         -37.2 22.0 33.2 -393 11.8              
Total Debt Growth % ...         -6.73 -7.85 -9.13 119,310 10.6              
ratios                                  
Total Debt USD mil           2.85 2.63 2.39 2,854 3,157              
Net Debt USD mil           -415 -506 -674 1,973 2,205              
Working Capital USD mil           -22.9 -21.7 -29.2 -9.18 8.96              
Capital Employed USD mil           1,481 1,394 1,422 4,023 4,572              
Net Debt/Equity %           -29.6 -37.1 -46.8 117 109              
Current Ratio           1.85 1.94 1.81 1.61 1.73              
Quick Ratio           1.63 1.70 1.64 1.44 1.28              
cash flow Unit 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
cash flow                                  
Net Profit USD mil           22.9 176 177 350 356              
Depreciation USD mil ... ... ... ... ... ... ... ... ... ... ...            
Non-Cash Items USD mil           111 95.4 159 143 218              
Change in Working Capital USD mil           74.8 33.2 83.9 15.4 -149              
Total Cash From Operations USD mil           355 468 622 722 664              
                                     
Capital Expenditures USD mil           -259 -217 -287 -320 -373              
Net Change in LT Investment USD mil           0 0 0 0 0   ... ... ... ... ... ...
Net Cash From Acquisitions USD mil           0 0 0 0 -10.0   ... ... ... ... ... ...
Other Investing Activities USD mil           586 130 -100 28.0 -49.3              
Total Cash From Investing USD mil           327 -86.6 -388 -292 -433              
                                     
Dividends Paid USD mil           0 0 0 0 0              
Issuance Of Shares USD mil           -838 -286 -166 -201 -103              
Issuance Of Debt USD mil           0 0 0 0 0              
Other Financing Activities USD mil           1.37 0.026 -0.187 -0.698 -1.90   ... ... ... ... ... ...
Total Cash From Financing USD mil           -836 -286 -167 -202 -105              
                                     
Effect of FX Rates USD mil           0.110 2.06 -1.46 0.406 1.08   ... ... ... ... ... ...
Net Change In Cash USD mil           -154 97.8 66.0 228 127              
ratios                                  
Days Sales Outstanding days           3.78 3.30 4.68 5.26 6.37              
Days Sales Of Inventory days           1.61 1.95 1.99 2.14 1.95              
Days Payable Outstanding days           8.40 8.05 10.4 9.51 9.01              
Cash Conversion Cycle days           -3.01 -2.80 -3.77 -2.11 -0.681              
Cash Earnings USD mil ... ... ... ... ... ... ... ... ... ... ...            
Free Cash Flow USD mil           682 382 234 430 231              
Capital Expenditures (As % of Sales) %           6.63 4.84 5.91 5.73 6.24              
other ratios Unit 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
                                   
Employees           64,570 68,890 73,000 83,000 88,000   ... ... ... ... ... ...
Operating Cost (As % of Sales) %           11.9 10.8 13.4 12.5 12.5   ... ... ... ... ... ...
Research & Development (As % of Sales) %           0 0 0 0 0   ... ... ... ... ... ...
Effective Tax Rate %           40.8 36.1 34.2 23.6 -21.1              
Total Revenue Growth (5-year average) % ... ... ... ... ... 11.5 10.4 8.64 6.34 5.86              
Total Revenue Growth (10-year average) % ... ... ... ... ... ... ... ... ... ...              
valuation Unit 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
                                   
Market Capitalisation USD mil ... ... ... ... ... ... 8,100 11,959 23,234 38,829              
Enterprise Value (EV) USD mil ... ... ... ... ... ... 7,594 11,285 25,207 41,035              
Number Of Shares mil ... ... ... ... ... ... 28.6 28.0 28.3 28.4              
Share Price USD ... ... ... ... ... ... 289 432 837 1,387              
EV/EBITDA ... ... ... ... ... ... 17.5 24.5 26.2 47.8              
Price/Earnings (P/E) ... ... ... ... ... ... 46.8 68.4 67.6 111              
Price/Cash Earnings (P/CE) ... ... ... ... ... ... ... ... ... ... ...            
P/FCF ... ... ... ... ... ... 21.6 51.6 55.1 170              
Price/Book Value (P/BV) ... ... ... ... ... ... 6.05 8.38 14.1 19.5              
Dividend Yield % ... ... ... ... ... ... 0 0 0 0              
Free Cash Flow Yield % ... ... ... ... ... ... 4.71 1.96 1.85 0.595              
Earnings Per Share (EPS) USD ... ... ... ... ... ... 6.17 6.31 12.4 12.5              
Cash Earnings Per Share USD ... ... ... ... ... ... ... ... ... ... ...            
Free Cash Flow Per Share USD ... ... ... ... ... ... 13.4 8.37 15.2 8.13              
Book Value Per Share USD ... ... ... ... ... ... 47.8 51.5 59.5 71.1              
Dividend Per Share USD ... ... ... ... ... ... 0 0 0 0              
EV/Sales ... ... ... ... ... ... 1.70 2.32 4.51 6.86              
EV/EBIT ... ... ... ... ... ... 28.0 43.7 56.8 141              
EV/Free Cash Flow ... ... ... ... ... ... 19.9 48.2 58.7 178              
EV/Capital Employed ... ... ... ... ... ... 5.45 7.94 6.27 8.98              
Earnings Per Share Growth % ... ... ... ... ... ... ... 2.27 96.2 1.13              
Cash Earnings Per Share Growth % ... ... ... ... ... ... ... ... ... ... ... ...          
Book Value Per Share Growth % ... ... ... ... ... ... ... 7.90 15.4 19.5              

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Chipotle Mexican Grill's ROCE rose 60.8% yoy to 13.3% in 2021

By Helgi Library - May 10, 2022

Chipotle Mexican Grill made a net profit of USD 653 mil in 2021, up 83.5% compared to the previous year. Historically, between 2011 and 2021, the company's net profit reached a high of USD 653 mil in 2021 and a low of USD 22.9 mil in 2016. The result impl...

Chipotle Mexican Grill's Capital Expenditures fell 17.4% yoy to USD 438 mil in 2021

By Helgi Library - May 10, 2022

Chipotle Mexican Grill invested a total of USD 438 mil in 2021, up 17.4% compared to the previous year. Historically, between 2011 - 2021, the company's investments stood at a high of USD 438 mil in 2021 and a low of USD 151 mil in 2011. ...

Chipotle Mexican Grill's Net Margin rose 45.5% yoy to 8.65% in 2021

By Helgi Library - May 10, 2022

Chipotle Mexican Grill made a net profit of USD 653 mil with revenues of USD 7,547 mil in 2021, up by 83.5% and up by 26.1%, respectively, compared to the previous year. This translates into a net margin of 8.65%. Historically, between 2011 and 2021, ...

Chipotle Mexican Grill's Share Price rose 26.1% yoy to USD 1,748 in 2021

By Helgi Library - May 10, 2022

Chipotle Mexican Grill stock traded at USD 1,748 per share at the end 2021 implying a market capitalization of USD 49,091 mil. Since the end of 2016, stock has appreciated by % implying an annual average growth of % In absolute terms, the value of the company ...

Chipotle Mexican Grill's P/FCF fell 61.5% yoy to 65.6 in 2021

By Helgi Library - May 10, 2022

Chipotle Mexican Grill stock traded at USD 1,748 per share at the end 2021 translating into a market capitalization of USD 49,091 mil. Since the end of 2016, the stock has appreciated by 0% representing an annual average growth of %. At the end of 2021, ...

Chipotle Mexican Grill's Net Debt/EBITDA fell 32.9% yoy to 1.72 in 2021

By Helgi Library - May 10, 2022

Chipotle Mexican Grill's net debt stood at USD 2,444 mil and accounted for 106% of equity at the end of 2021. The ratio is down 2.79 pp compared to the previous year. Historically, the firm’s net debt to equity reached a high of 117% in 2019 and ...

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Finance

Chipotle Mexican Grill has been growing its sales by 13.5% a year on average in the last 5 years. EBITDA has grown on average by 21.2% a year during that time to total of USD 3,839 mil in 2027, or 23.2% of sales. That’s compared to 21.3% average margin seen in last five years.

The company netted USD 2,530 mil in 2027 implying ROE of 28.1% and ROCE of 34.6%. Again, the average figures were 35.0% and 27.5%, respectively when looking at the previous 5 years.

Chipotle Mexican Grill’s net debt amounted to USD 1,330 mil at the end of 2027, or 13.4% of equity. When compared to EBITDA, net debt was 0.346x, down when compared to average of 0.623x seen in the last 5 years.

Valuation

Chipotle Mexican Grill stock traded at USD 1,328 per share at the end of 2027 resulting in a market capitalization of USD 37,863 mil. Over the previous five years, stock price grew by 0% or 0% a year on average. The closing price put stock at a 12-month trailing EV/EBITDA of 10.2x and price to earnings (PE) of 15.0x as of 2027.