Chipotle Mexican Grill (CMG) Operating Expenses (2010 - 2026)
Chipotle Mexican Grill (CMG) posted quarterly Operating Expenses of $2.8 billion for Q2 2026, up 12.72% year-over-year from $2.5 billion in Q2 2025, and up 4.9% on a QoQ basis from $2.7 billion in Q1 2026.
Chipotle Mexican Grill (CMG) Operating Expenses (2010 - 2026) Analysis & Trends
Chipotle Mexican Grill has reported Operating Expenses for 17 years, with the latest figure at $2.8 billion in Q2 2026.
- Operating Expenses for Q2 2026 came in at $2.8 billion, up 12.72% year-over-year; the trailing twelve-month figure through Jun 2026 was $10.6 billion (up 9.88% YoY), and the FY2025 annual result was $10.0 billion, up 6.3% from the prior year.
- Operating Expenses improved to $2.8 billion in Q2 2026, from $2.7 billion in the prior quarter.
- Over five years, Operating Expenses peaked at $2.8 billion in Q2 2026 and troughed at $1.8 billion in Q1 2022.
- A 5-year average of $2.3 billion and a median of $2.3 billion in 2024 frame the typical range for Operating Expenses.
- The largest YoY upside for Operating Expenses was 15.83% in 2022 against a maximum downside of 4.55% in 2022.
- A 5-year view of Operating Expenses shows it stood at $1.9 billion in 2022, then advanced by 14.26% to $2.2 billion in 2023, then advanced by 12.85% to $2.4 billion in 2024, then increased by 5.5% to $2.6 billion in 2025, then climbed by 10.13% to $2.8 billion in 2026.
- Per Business Quant data, the three most recent Operating Expenses figures were $2.8 billion in Q2 2026, $2.7 billion in Q1 2026, and $2.6 billion in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Mcdonalds | 193.05 Bn | 192.23 Bn | 6.42 Bn | 3.76 Bn |
| 2 | Starbucks | 122.77 Bn | 119.16 Bn | 6.49 Bn | 8.42 Bn |
| 3 | Chipotle Mexican Grill | 42.40 Bn | 41.73 Bn | 2.35 Bn | 2.82 Bn |
| 4 | Yum Brands | 40.42 Bn | 39.75 Bn | 1.47 Bn | 1.51 Bn |
| 5 | Restaurant Brands International | 27.11 Bn | 27.59 Bn | 1.89 Bn | 1.80 Bn |
| 6 | Darden Restaurants | 25.70 Bn | 25.48 Bn | 3.68 Bn | 3.20 Bn |
| 7 | Restaurant Brands International Limited Partnership | 17.24 Bn | 16.18 Bn | 1.89 Bn | 1.80 Bn |
| 8 | Yum China Holdings | 16.42 Bn | 15.74 Bn | 2.22 Bn | 2.79 Bn |
| 9 | Texas Roadhouse | 13.58 Bn | 13.40 Bn | 1.44 Bn | 1.54 Bn |
| 10 | Dominos Pizza | 11.46 Bn | 11.32 Bn | 478.23 Mn | 115.37 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 2.82 Bn |
| Mar 31, 2026 | 2.69 Bn |
| Dec 31, 2025 | 2.56 Bn |
| Sep 30, 2025 | 2.53 Bn |
| Jun 30, 2025 | 2.50 Bn |
| Mar 31, 2025 | 2.40 Bn |
| Dec 31, 2024 | 2.43 Bn |
| Sep 30, 2024 | 2.32 Bn |
| Jun 30, 2024 | 2.39 Bn |
| Mar 31, 2024 | 2.26 Bn |
| Dec 31, 2023 | 2.15 Bn |
| Sep 30, 2023 | 2.08 Bn |
| Jun 30, 2023 | 2.08 Bn |
| Mar 31, 2023 | 2.00 Bn |
| Dec 31, 2022 | 1.88 Bn |
| Sep 30, 2022 | 1.88 Bn |
| Jun 30, 2022 | 1.88 Bn |
| Mar 31, 2022 | 1.83 Bn |
| Dec 31, 2021 | 1.80 Bn |
| Sep 30, 2021 | 1.71 Bn |