Chipotle Mexican Grill (CMG) Net Margin (2010 - 2026)
Chipotle Mexican Grill (CMG) reported Net Margin of 9.81% for Q1 2026, down 364.0% year-over-year from 3.71% in Q1 2025, and down 11.6% quarter-over-quarter from 11.09% in Q4 2025.
Chipotle Mexican Grill (CMG) Net Margin (2010 - 2026) Analysis & Trends
Chipotle Mexican Grill (CMG) has 17 years of Net Margin data on file, last reported at 9.81% in Q1 2026.
- Net Margin for Q1 2026 came in at 9.81%, down 364.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 11.96% (down 163.0% YoY), and the FY2025 annual result was 12.88%, down 68.0% from the prior year.
- Net Margin retreated to 9.81% in Q1 2026 per CMG's latest filing, from 11.09% in the prior quarter.
- Over five years, Net Margin peaked at 15.33% in Q2 2024 and troughed at 7.83% in Q1 2022.
- A 5-year average of 12.16% and a median of 12.31% in 2023 frame the typical range for Net Margin.
- The sharpest annual moves came in 2023 and 2026: Net Margin surged 448 bps in 2023, then plunged 364 bps in 2026.
- A 5-year view of Net Margin shows it stood at 10.26% in 2022, then increased by 9 bps to 11.21% in 2023, then rose by 4 bps to 11.66% in 2024, then dropped by 5 bps to 11.09% in 2025, then declined by 12 bps to 9.81% in 2026.
- Business Quant data shows CMG's Net Margin at 9.81% in Q1 2026, 11.09% in Q4 2025, and 12.72% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Starbucks | 117.34 Bn | 115.65 Bn | 9.40 Bn | 5.36% |
| 2 | Yum Brands | 42.81 Bn | 42.12 Bn | 1.38 Bn | 20.98% |
| 3 | Chipotle Mexican Grill | 41.83 Bn | 40.96 Bn | 2.61 Bn | 9.81% |
| 4 | Restaurant Brands International | 26.03 Bn | 26.56 Bn | 2.14 Bn | 14.93% |
| 5 | Darden Restaurants | 24.52 Bn | 24.28 Bn | 3.31 Bn | -0.11% |
| 6 | Yum China Holdings | 15.76 Bn | 14.33 Bn | 3.24 Bn | 10.06% |
| 7 | Texas Roadhouse | 11.04 Bn | 10.84 Bn | 1.40 Bn | 7.56% |
| 8 | Dominos Pizza | 10.88 Bn | 10.65 Bn | 464.51 Mn | 12.15% |
| 9 | Cava | 10.56 Bn | 10.17 Bn | 797.57 Mn | 1.79% |
| 10 | Dutch Bros | 8.38 Bn | 8.34 Bn | 107.48 Mn | 5.10% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 9.81% |
| Dec 31, 2025 | 11.09% |
| Sep 30, 2025 | 12.72% |
| Jun 30, 2025 | 14.24% |
| Mar 31, 2025 | 13.45% |
| Dec 31, 2024 | 11.66% |
| Sep 30, 2024 | 13.87% |
| Jun 30, 2024 | 15.33% |
| Mar 31, 2024 | 13.30% |
| Dec 31, 2023 | 11.21% |
| Sep 30, 2023 | 12.67% |
| Jun 30, 2023 | 13.59% |
| Mar 31, 2023 | 12.31% |
| Dec 31, 2022 | 10.26% |
| Sep 30, 2022 | 11.58% |
| Jun 30, 2022 | 11.74% |
| Mar 31, 2022 | 7.83% |
| Dec 31, 2021 | 6.81% |
| Sep 30, 2021 | 10.47% |
| Jun 30, 2021 | 9.93% |