FoodBud
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RankingsInsightsMixue SeriesArchiveMethodologyDataSearch中文
FoodBud

Global foodservice chain intelligence. Every figure should link back to a source.

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Company card

Chipotle

Medium
Brand

NYSE CMG · US

Listing status
listed
Operating model
Direct / managed estate
Scale basis
Revenue proxy
Confidence
Medium
Segment
fast casual

SEC first pass gives a useful denominator, but direct/franchise and system sales still need 10-K business-section parsing.

Scale basis note

Recognized company revenue. Useful for accounting scale, but not directly comparable with GMV/system sales.

Compare this operator
Every number has a source row

Metrics below keep source tier, quality, period, and source link visible at the metric level.

Source tiers
S1Official primary — filings, annual reports, prospectuses
S2Official secondary — IR decks, transcripts
S3Supplementary — vetted media, databases
S0Not usable — flagged, never published

Source tiers — S1 official primary · S2 official secondary · S3 supplementary · S0 not usable. Open “Provenance” on any number for its tier, basis, precision, and do-not-use note.

GMV is not revenue

GMV/system sales, revenue, and royalty pool sales are separate scale bases. Screening proxies are directional only.

MetricValuePeriod / basisQualitySource
Stores
Reported restaurant, coffee shop, tea shop, bakery, or comparable chain units.
4,042 stores
FY2025 (fiscal year ended December 31, 2025): As of December 31, 2025, there were a total of 4,056 Chipotle restaurants including 14 international partner-operated restaurants.
Source-backed
S2 official secondary (opens in new tab)
Press Or Ir · As of December 31, 2025, there were a total of 4,056 Chipotle restaurants including 14 international partner-operated restaurants.
Provenance
Tier: S2 official secondary
Source: Press Or Ir
Scale
Recognized company revenue. Useful for accounting scale, but not directly comparable with GMV/system sales.
$11.93B
FY2025 (fiscal year ended December 31, 2025): Total revenue for 2025 was $11.9 billion, an increase of 5.4% compared to 2024.
Revenue proxyRecognized company revenue. Useful for accounting scale, but not directly comparable with GMV/system sales.
Source-backed
S2 official secondary (opens in new tab)
Press Or Ir · Total revenue for 2025 was $11.9 billion, an increase of 5.4% compared to 2024.
Provenance
Tier: S2 official secondary
Source: Press Or Ir
Basis: Revenue proxy
Precision: Source-backed
Scale per store
Screening proxy: scale divided by store count. It is not audited AUV or unit profit.
$2.95M
Screening proxy
Derived scale_per_store using scale ÷ store_count at the linked scale basis; not a separately reported company metric.
Revenue proxyRecognized company revenue. Useful for accounting scale, but not directly comparable with GMV/system sales.
Source-backed
S1 official primary (opens in new tab)
Operator Metric Source · Source used for operator metric extraction.
Provenance
Tier: S1 official primary
Source: Operator Metric Source
Basis: Revenue proxy
Precision: Derived
Profit signal
Profit signal from the source period. Read with local accounting and segment mix in mind.
$1.54B
FY2025 (fiscal year ended December 31, 2025): Net income for 2025 was $1.54 billion, or $1.14 per diluted share, compared to $1.53 billion, or $1.11 per diluted share, in 2024.
Profit-positiveScale basis not specified. Use as a screening signal until a source pack is attached.
Source-backed
S2 official secondary (opens in new tab)
Press Or Ir · Net income for 2025 was $1.54 billion, or $1.14 per diluted share, compared to $1.53 billion, or $1.11 per diluted share, in 2024.
Provenance
Tier: S2 official secondary
Source: Press Or Ir
Basis: Profit-positive
Revenue
Source-backed operating metric from the locked research snapshot.
$11.93B
USD 11.93B revenue (Revenues)
Revenue proxyRecognized company revenue. Useful for accounting scale, but not directly comparable with GMV/system sales.
Source-backed
S1 official primary (opens in new tab)
Operator Metric Source · Source used for operator metric extraction.
Provenance
Tier: S1 official primary
Source: Operator Metric Source
Basis: Revenue proxy
Precision: Source-backed

Market data (listed companies)

Market valuation · fluctuates · not operational scale · do not compare with GMV / system sales. Listed companies only.

MetricValuePeriod / basisQualitySource
Market cap
Public market capitalization captured in the locked source snapshot.
$42.19B
May 22, 2026: CMG closed at $32.89 on May 22, 2026; market cap approximately $42.19B based on ~1,282.7M shares outstanding.
Market cap (USD)Scale basis not specified. Use as a screening signal until a source pack is attached.
Source-backed
S3 supplementary (opens in new tab)
Media Or Aggregator · CMG closed at $32.89 on May 22, 2026; market cap approximately $42.19B based on ~1,282.7M shares outstanding.
Provenance
Tier: S3 supplementary
Source: Media Or Aggregator
Basis: Market cap (USD)
Precision: Market snapshot · not operational scale
⚠ Do not use for: Market valuation · not operational scale · never compare with GMV/system sales

Operator profile

11/19 source-backed

Classification, firmographics, ownership and operating dimensions — source-backed where disclosed, marked as a gap (never inferred) where not.

Format & positioning
Cuisine (primary)
mexican latinS3 supplementary (opens in new tab)
Cuisine (secondary)
not disclosed
Service model
fast casualtier3_reference (opens in new tab)
Price tier
midtertiary (opens in new tab)
Company
Founded
1,993secondary (opens in new tab)
HQ country
United Statesaggregator (opens in new tab)
CEO
Scott Boatwrightcompany (opens in new tab)
Employees
130,301 headcountaggregator (opens in new tab)
Ownership
Parent
Independent / public-standalone (no corporate parent; widely held, NYSE:CMG)encyclopedic (opens in new tab)
PE / holding
not disclosed
Recent M&A
not disclosed
Growth
Revenue YoY
5.4%S1 official primary (opens in new tab)
Net new units
345 unitsS1 official primary (opens in new tab)
Pricing & digital
Avg check
not disclosed
Digital sales
36.7%company (opens in new tab)
Loyalty members
21company (opens in new tab)~
Franchise terms
Royalty
not disclosed
Franchise fee
not disclosed
By-market footprint
United States
3,938 storesS1 official primary (opens in new tab)
International
104 storesS1 official primary (opens in new tab)

Store counts by market/region — footprint context, not a same-basis comparison.

Disclosed store model

disclosed6/6 source-backed

Company-operated vs franchised footprint, AUV and store-level economics — taken verbatim from each operator's own filing, never inferred. A separate axis from company scale and single-store economics.

Company-operated
4,042 stores
FY2025, as of December 31, 2025
Source-backedS1 official primary (opens in new tab)
Company-operated
3,938 stores
FY2025, as of December 31, 2025 (U.S. company-owned only)
Source-backedS1 official primary (opens in new tab)
JV / licensed
14 stores
FY2025, as of December 31, 2025
Source-backedS1 official primary (opens in new tab)
AUV — average unit volume
3.104 USD
FY2025 (year ended December 31, 2025)
Source-backedS1 official primary (opens in new tab)
New units opened
334 stores
FY2025 (year ended December 31, 2025), company-owned openings
Source-backedS1 official primary (opens in new tab)
New units opened
11 stores
FY2025 (year ended December 31, 2025), partner-operated openings
Source-backedS1 official primary (opens in new tab)

Single-store model

4/8 source-backed

Unit economics are a separate axis from company-level scale — never read as the same number. Each field keeps its source, period, and quality; derived/estimated rows and gaps are marked.

AUV / unit sales
Secondary relay (FDD/10-K/release); confirm vs primary.
AUV >$3m (2023); long-term goal >$4m.
2024_or_latest
Source-backedS2 official secondary (opens in new tab)
Single-store profit
Secondary relay (FDD/10-K/release); confirm vs primary.
Restaurant-level margin 27.5%/28.9%/25.5% (2024 Q1-Q3).
2024_or_latest
Source-backedS2 official secondary (opens in new tab)
Initial investment
GAP — not fabricated.
—
GapSource (opens in new tab)
Franchise fee / royalty
GAP — not fabricated.
—
GapSource (opens in new tab)
Payback period
GAP — not fabricated.
—
GapSource (opens in new tab)
Same-store sales
Secondary relay (FDD/10-K/release); confirm vs primary.
Comparable restaurant sales +7.0%/+6.0%/+5.4% (2024 quarters).
2024_or_latest
Source-backedS2 official secondary (opens in new tab)
Store open / close
GAP — not fabricated.
—
GapSource (opens in new tab)
Company-operated share
Secondary relay (FDD/10-K/release); confirm vs primary.
100% company-owned (no US franchise).
2024_or_latest
Source-backedS2 official secondary (opens in new tab)

Cost structure

3/6 source-backed

Where each revenue dollar goes, latest disclosed year. Slices use each operator's reported base — % of revenue unless the row notes otherwise (% of GMV, restaurant-level, franchise goods-supply COGS). Grey = not separately disclosed. This is a separate axis from company scale and single-store economics.

Food / COGS29.8%
FY2024· pct_of_revenueS2 official secondary (opens in new tab)Source-backed
Secondary relay of AR/10-K; confirm vs filing.
Labor24.7%
FY2024· pct_of_revenueS2 official secondary (opens in new tab)Source-backed
Secondary relay of AR/10-K; confirm vs filing.
Rent / occupancy—
Gap
GAP — not fabricated.
Delivery commission—
Gap
GAP — not fabricated.
Marketing—
Gap
GAP — not fabricated.
Operating margin26.7%
FY2024· restaurant_level_margin_pctS2 official secondary (opens in new tab)Source-backed
Restaurant-LEVEL margin (food+labor+occupancy+other); group operating margin ~16-17%. Secondary.
Not separately disclosed18.8%

Supply chain

1 suppliers · 0 with S1 filing

Who supplies this brand — reverse-extracted from each supplier's own filing (top-customer / related-party disclosure). The % is the supplier's revenue share from this brand (supplier-side, not procurement spend), unless a note says otherwise. Each edge keeps its period, source tier, and audit link; named relationships without a disclosed % are shown as such.

Martin Brower / Reyes HoldingsPRIVATE
Logistics / cold chain
QSR distribution
discloses as: Chipotle
2018-named (no % disclosed)S3 newssource (opens in new tab)
2015-2016 onwardnamed (no % disclosed)S3 newssource (opens in new tab)

Related insights

  • Chipotle owns every restaurant — so its $11.9B has nowhere to hide (opens in new tab)

Peers in this segment

Portillo'sCompany-operated revenue (proxy)Tortilla Mexican Grill plcRevenue proxy

Same segment — each operator keeps its own scale basis; this is navigation, not a like-for-like comparison.