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
DateValue
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