Chipotle Mexican Grill (CMG) Operating Expenses (2010 - 2026)
Chipotle Mexican Grill's (CMG) quarterly Operating Expenses came in at $2.7 billion in Q1 2026, up 12.32% year-on-year from $2.4 billion in Q1 2025, and up 4.99% on a QoQ basis from $2.6 billion in Q4 2025.
Chipotle Mexican Grill (CMG) Operating Expenses (2010 - 2026) Analysis & Trends
Chipotle Mexican Grill (CMG) has 17 years of Operating Expenses data on file, last reported at $2.7 billion in Q1 2026.
- On a quarterly basis, Operating Expenses rose 12.32% year-over-year to $2.7 billion in Q1 2026; TTM through Mar 2026 was $10.3 billion, a 7.89% increase from a year earlier, with the FY2025 full-year figure at $10.0 billion, up 6.3% from the prior year.
- Operating Expenses for Q1 2026 stood at $2.7 billion, up from $2.6 billion in the prior quarter.
- Over the last five years, Operating Expenses for CMG reached as high as $2.7 billion in Q1 2026 and fell as low as $1.8 billion in Q1 2022.
- Historically, Operating Expenses has averaged $2.2 billion across 5 years, with a median of $2.3 billion in 2024.
- On a YoY basis, Operating Expenses climbed as much as 15.83% in 2022 and fell as far as 4.55% in 2022.
- Year by year, Operating Expenses stood at $1.9 billion in 2022, then grew by 14.26% to $2.2 billion in 2023, then grew by 12.85% to $2.4 billion in 2024, then gained by 5.5% to $2.6 billion in 2025, then rose by 4.99% to $2.7 billion in 2026.
- Per Business Quant data, the three most recent Operating Expenses figures were $2.7 billion in Q1 2026, $2.6 billion in Q4 2025, and $2.5 billion in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Starbucks | 118.28 Bn | 116.58 Bn | 6.32 Bn | 8.75 Bn |
| 2 | Yum Brands | 41.26 Bn | 40.58 Bn | 1.38 Bn | 1.42 Bn |
| 3 | Chipotle Mexican Grill | 41.21 Bn | 40.34 Bn | 2.61 Bn | 2.69 Bn |
| 4 | Restaurant Brands International | 25.26 Bn | 24.25 Bn | 2.14 Bn | 1.66 Bn |
| 5 | Darden Restaurants | 22.64 Bn | 22.40 Bn | 3.31 Bn | 2.94 Bn |
| 6 | Yum China Holdings | 15.35 Bn | 13.92 Bn | 2.31 Bn | 2.82 Bn |
| 7 | Texas Roadhouse | 12.76 Bn | 12.54 Bn | 1.40 Bn | 1.49 Bn |
| 8 | Dominos Pizza | 11.11 Bn | 10.98 Bn | 478.23 Mn | 115.37 Mn |
| 9 | Dutch Bros | 8.18 Bn | 7.92 Bn | 107.48 Mn | 430.11 Mn |
| 10 | Brinker International | 8.13 Bn | 8.07 Bn | 1.10 Bn | 1.30 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| 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 |
| Jun 30, 2021 | 1.65 Bn |