Chipotle Mexican Grill (CMG) Operating Expenses (2010 - 2026)
Chipotle Mexican Grill (CMG) reported Operating Expenses of $2.7 billion for Q1 2026, up 12.32% year-over-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) has 17 years of Operating Expenses data on file, last reported at $2.7 billion in Q1 2026.
- Quarterly Operating Expenses rose 12.32% year-over-year to $2.7 billion in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $10.3 billion (up 7.89% YoY) and the FY2025 annual result came in at $10.0 billion, up 6.3% from the prior year.
- Operating Expenses rose to $2.7 billion in Q1 2026 per CMG's latest filing, from $2.6 billion in the prior quarter.
- Across five years, Operating Expenses topped out at $2.7 billion in Q1 2026 and bottomed at $1.8 billion in Q1 2022.
- The 5-year median for Operating Expenses is $2.3 billion (2024), against an average of $2.2 billion.
- Peak annual rise in Operating Expenses reached 15.83% in 2022, while the deepest fall reached 4.55% in 2022.
- Tracing CMG's Operating Expenses over 5 years: stood at $1.9 billion in 2022, then increased by 14.26% to $2.2 billion in 2023, then increased by 12.85% to $2.4 billion in 2024, then advanced by 5.5% to $2.6 billion in 2025, then gained by 4.99% to $2.7 billion in 2026.
- Per Business Quant, the three latest CMG Operating Expenses figures stand at $2.7 billion (Q1 2026), $2.6 billion (Q4 2025), and $2.5 billion (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Starbucks | 110.27 Bn | 108.58 Bn | 9.40 Bn | 8.75 Bn |
| 2 | Yum Brands | 40.90 Bn | 40.21 Bn | 1.38 Bn | 1.42 Bn |
| 3 | Chipotle Mexican Grill | 39.62 Bn | 38.75 Bn | 2.61 Bn | 2.69 Bn |
| 4 | Restaurant Brands International | 25.25 Bn | 25.79 Bn | 2.14 Bn | 1.66 Bn |
| 5 | Darden Restaurants | 23.41 Bn | 23.17 Bn | 3.31 Bn | 2.94 Bn |
| 6 | Yum China Holdings | 15.07 Bn | 13.64 Bn | 3.24 Bn | 2.82 Bn |
| 7 | Texas Roadhouse | 11.59 Bn | 11.39 Bn | 1.40 Bn | 1.49 Bn |
| 8 | Dominos Pizza | 10.51 Bn | 10.27 Bn | 464.51 Mn | 111.41 Mn |
| 9 | Cava | 8.67 Bn | 8.28 Bn | 797.57 Mn | 272.18 Mn |
| 10 | Dutch Bros | 7.47 Bn | 7.43 Bn | 107.48 Mn | 430.11 Mn |
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 |
| Mar 31, 2021 | 1.58 Bn |
| Dec 31, 2020 | 1.49 Bn |
| Sep 30, 2020 | 1.49 Bn |
| Jun 30, 2020 | 1.37 Bn |
| Mar 31, 2020 | 1.34 Bn |
| Dec 31, 2019 | 1.34 Bn |
| Sep 30, 2019 | 1.29 Bn |
| Jun 30, 2019 | 1.31 Bn |
| Mar 31, 2019 | 1.20 Bn |
| Dec 31, 2018 | 1.19 Bn |
| Sep 30, 2018 | 1.17 Bn |
| Jun 30, 2018 | 1.20 Bn |
| Mar 31, 2018 | 1.06 Bn |
| Dec 31, 2017 | 1.05 Bn |
| Sep 30, 2017 | 1.10 Bn |
| Jun 30, 2017 | 1.06 Bn |
| Mar 31, 2017 | 995.66 Mn |
| Dec 31, 2016 | 1.00 Bn |
| Sep 30, 2016 | 1.03 Bn |
| Jun 30, 2016 | 957.49 Mn |
| Mar 31, 2016 | 881.06 Mn |
| Dec 31, 2015 | 893.89 Mn |
| Sep 30, 2015 | 982.13 Mn |
| Jun 30, 2015 | 970.37 Mn |
| Mar 31, 2015 | 891.24 Mn |
| Dec 31, 2014 | 881.94 Mn |
| Sep 30, 2014 | 876.79 Mn |
| Jun 30, 2014 | 870.23 Mn |
| Mar 31, 2014 | 768.51 Mn |
| Dec 31, 2013 | 715.04 Mn |
| Sep 30, 2013 | 689.75 Mn |
| Jun 30, 2013 | 670.37 Mn |
| Mar 31, 2013 | 606.71 Mn |
| Dec 31, 2012 | 596.97 Mn |
| Sep 30, 2012 | 582.87 Mn |
| Jun 30, 2012 | 557.14 Mn |
| Mar 31, 2012 | 538.38 Mn |
| Dec 31, 2011 | 502.88 Mn |
| Sep 30, 2011 | 493.84 Mn |
| Jun 30, 2011 | 487.70 Mn |
| Mar 31, 2011 | 434.56 Mn |
| Dec 31, 2010 | 408.53 Mn |
| Sep 30, 2010 | 399.29 Mn |
| Jun 30, 2010 | 391.88 Mn |
| Mar 31, 2010 | 348.39 Mn |