Chipotle Mexican Grill (CMG) Gross Margin (2010 - 2026)
Chipotle Mexican Grill (CMG) reported Gross Margin of 84.44% for Q1 2026, up 1360.0% year-over-year from 5.78% in Q1 2025, and little changed on a QoQ basis from 84.53% in Q4 2025.
Chipotle Mexican Grill (CMG) has 17 years of Gross Margin data on file, last reported at 84.44% in Q1 2026.
- Quarterly Gross Margin rose 1360.0% year-over-year to 84.44% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 85.0% (up 1489.0% YoY) and the FY2025 annual result came in at 85.28%, up 1510.0% from the prior year.
- Gross Margin was little changed at 84.44% in Q1 2026 per CMG's latest filing, from 84.53% in the prior quarter.
- Across five years, Gross Margin topped out at 129.28% in Q4 2023 and bottomed at 25.16% in Q4 2022.
- The 5-year median for Gross Margin is 83.63% (2022), against an average of 78.04%.
- The widest annual swing landed in 2023, when Gross Margin surged 10412 bps; it then tumbled 5972 bps in 2024.
- Tracing CMG's Gross Margin over 5 years: stood at 25.16% in 2022, then soared by 414 bps to 129.28% in 2023, then plunged by 46 bps to 69.56% in 2024, then advanced by 22 bps to 84.53% in 2025, then fell by 0 bps to 84.44% in 2026.
- Per Business Quant, the three latest CMG Gross Margin figures stand at 84.44% (Q1 2026), 84.53% (Q4 2025), and 85.0% (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Starbucks | 110.27 Bn | 108.58 Bn | 9.40 Bn | 98.63% |
| 2 | Yum Brands | 40.90 Bn | 40.21 Bn | 1.38 Bn | 67.12% |
| 3 | Chipotle Mexican Grill | 39.62 Bn | 38.75 Bn | 2.61 Bn | 84.44% |
| 4 | Restaurant Brands International | 25.25 Bn | 25.79 Bn | 2.14 Bn | 94.61% |
| 5 | Darden Restaurants | 23.41 Bn | 23.17 Bn | 3.31 Bn | 98.82% |
| 6 | Yum China Holdings | 15.07 Bn | 13.64 Bn | 3.24 Bn | 99.05% |
| 7 | Texas Roadhouse | 11.59 Bn | 11.39 Bn | 1.40 Bn | 86.00% |
| 8 | Dominos Pizza | 10.51 Bn | 10.27 Bn | 464.51 Mn | 40.37% |
| 9 | Cava | 8.67 Bn | 8.28 Bn | 797.57 Mn | 290.04% |
| 10 | Dutch Bros | 7.47 Bn | 7.43 Bn | 107.48 Mn | 23.14% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 84.44% |
| Dec 31, 2025 | 84.53% |
| Sep 30, 2025 | 85.00% |
| Jun 30, 2025 | 86.01% |
| Mar 31, 2025 | 70.84% |
| Dec 31, 2024 | 69.56% |
| Sep 30, 2024 | 69.38% |
| Jun 30, 2024 | 70.61% |
| Mar 31, 2024 | 85.72% |
| Dec 31, 2023 | 129.28% |
| Sep 30, 2023 | 86.03% |
| Jun 30, 2023 | 70.63% |
| Mar 31, 2023 | 70.76% |
| Dec 31, 2022 | 25.16% |
| Sep 30, 2022 | 85.49% |
| Jun 30, 2022 | 69.55% |
| Mar 31, 2022 | 83.63% |
| Dec 31, 2021 | 26.96% |
| Sep 30, 2021 | 69.71% |
| Jun 30, 2021 | 84.82% |
| Mar 31, 2021 | 83.08% |
| Dec 31, 2020 | 25.91% |
| Sep 30, 2020 | 67.70% |
| Jun 30, 2020 | 66.68% |
| Mar 31, 2020 | 85.06% |
| Dec 31, 2019 | 66.90% |
| Sep 30, 2019 | 66.77% |
| Jun 30, 2019 | 86.52% |
| Mar 31, 2019 | 86.64% |
| Dec 31, 2018 | 84.55% |
| Sep 30, 2018 | 66.60% |
| Jun 30, 2018 | 67.38% |
| Mar 31, 2018 | 87.11% |
| Dec 31, 2017 | 84.23% |
| Sep 30, 2017 | 65.02% |
| Jun 30, 2017 | 65.87% |
| Mar 31, 2017 | 66.15% |
| Dec 31, 2016 | 13.76% |
| Sep 30, 2016 | 64.91% |
| Jun 30, 2016 | 65.75% |
| Mar 31, 2016 | 81.40% |
| Dec 31, 2015 | 165.34% |
| Sep 30, 2015 | 67.04% |
| Jun 30, 2015 | 66.88% |
| Mar 31, 2015 | 89.57% |
| Dec 31, 2014 | 157.28% |
| Sep 30, 2014 | 65.68% |
| Jun 30, 2014 | 89.01% |
| Mar 31, 2014 | 89.48% |
| Dec 31, 2013 | 66.13% |
| Sep 30, 2013 | 89.23% |
| Jun 30, 2013 | 66.88% |
| Mar 31, 2013 | 67.03% |
| Dec 31, 2012 | 152.93% |
| Sep 30, 2012 | 67.37% |
| Jun 30, 2012 | 90.40% |
| Mar 31, 2012 | 67.75% |
| Dec 31, 2011 | 149.54% |
| Sep 30, 2011 | 66.92% |
| Jun 30, 2011 | 67.09% |
| Mar 31, 2011 | 88.73% |
| Dec 31, 2010 | 143.23% |
| Sep 30, 2010 | 69.45% |
| Jun 30, 2010 | 69.60% |
| Mar 31, 2010 | 69.76% |