Chipotle Mexican Grill (CMG) Operating Margin (2010 - 2026)
Chipotle Mexican Grill (CMG) recorded Operating Margin of 15.70% in Q2 2026, down 2.55 percentage points from 18.25% a year earlier but up 2.84 percentage points from the prior quarter.
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Analysis
Chipotle Mexican Grill (CMG) Operating Margin (2010 - 2026) Analysis & Trends
On a TTM basis, Chipotle Mexican Grill's Operating Margin came in at 14.65% as of Jun 30, 2026, down 2.00 percentage points year-over-year; for FY2025, it came in at 16.23%, down 0.71 percentage points from FY2024.
- Annual Operating Margin has a five-year change of +11.38 percentage points (FY2020 to FY2025).
- Across earlier years, Operating Margin came in at 16.94% in FY2024 (+1.16 pp), 15.78% in FY2023 (+2.34 pp), 13.44% in FY2022 (+2.77 pp) and 10.67% in FY2021 (+5.82 pp).
- Quarterly Operating Margin has ranged from 8.07% in Q4 2021 to 19.71% in Q2 2024 over the past five years.
- On a year-over-year basis, Operating Margin has declined for five consecutive quarters, with an average year-over-year change of -0.99 percentage points over the last eight quarters.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 6.11 percentage points in Q1 2023, against a drop of 3.81 percentage points in Q1 2026 at the low end.
- Per Business Quant, the preceding three quarters came in at 12.86% (Q1 2026), 14.09% (Q4 2025) and 15.89% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Mcdonalds | 171.96 Bn | 166.78 Bn | 6.42 Bn | 47.02% |
| 2 | Starbucks | 110.34 Bn | 97.96 Bn | - | 10.52% |
| 3 | Yum Brands | 41.48 Bn | 38.36 Bn | 1.47 Bn | 30.20% |
| 4 | Chipotle Mexican Grill | 39.00 Bn | 34.98 Bn | - | 15.70% |
| 5 | Restaurant Brands International | 25.80 Bn | 21.35 Bn | 1.38 Bn | 28.41% |
| 6 | Darden Restaurants | 24.38 Bn | 23.48 Bn | 1.68 Bn | 9.98% |
| 7 | Restaurant Brands International Limited Partnership | 17.01 Bn | 12.57 Bn | 1.38 Bn | 28.41% |
| 8 | Yum China Holdings | 15.57 Bn | 9.23 Bn | 537.00 Mn | 11.09% |
| 9 | Texas Roadhouse | 11.21 Bn | 10.55 Bn | - | 8.50% |
| 10 | Luckin Coffee | 10.73 Bn | 9.81 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 15.70% |
| Mar 31, 2026 | 12.86% |
| Dec 31, 2025 | 14.09% |
| Sep 30, 2025 | 15.89% |
| Jun 30, 2025 | 18.25% |
| Mar 31, 2025 | 16.67% |
| Dec 31, 2024 | 14.61% |
| Sep 30, 2024 | 16.94% |
| Jun 30, 2024 | 19.71% |
| Mar 31, 2024 | 16.33% |
| Dec 31, 2023 | 14.44% |
| Sep 30, 2023 | 15.98% |
| Jun 30, 2023 | 17.17% |
| Mar 31, 2023 | 15.52% |
| Dec 31, 2022 | 13.59% |
| Sep 30, 2022 | 15.15% |
| Jun 30, 2022 | 15.25% |
| Mar 31, 2022 | 9.41% |
| Dec 31, 2021 | 8.07% |
| Sep 30, 2021 | 12.28% |
API Access
Chipotle Mexican Grill Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=CMG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "CMG", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=CMG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();