Chipotle Mexican Grill, Inc. (CMG) Stock Price & Analysis
Chipotle Mexican Grill, Inc. (CMG) closed at USD 28.14 on Thursday, October 22, 2026, up 0.07% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 28.12; the Oct 22, 2026 session ranged USD 27.82–28.47 on volume of 26,826,828 shares. Market capitalization is $35.61B, with a 52-week range of USD 27.82–42.19 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 09:57 UTC.
Also available as compact Markdown for AI agents: nexqual.com/CMG.md
Key facts (CMG)
- Last four reported quarters (through Jun 30, 2026): revenue $12.4B, net income $1.42B (11.4% margin), free cash flow $1.57B (SEC filings).
- Valuation: P/E 25.1x (avg 46.0x at the last 3 fiscal year-ends).
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $96K; 1 not under a Rule 10b5-1 plan ($96K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.23 on a 1–5 scale) (35 analysts), mean target USD 42.39 (range 32–53).
- Total return with dividends: 1Y -32.7% vs S&P 500 +14.9%; 5Y -21.5% vs S&P 500 +80.3%.
- Next earnings: 2026-10-28, EPS estimate USD 0.29, revenue estimate $3.28B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (CMG)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $7.55B | $8.63B | $9.87B | $11.3B | $11.9B | $12.4B |
| Operating income | $805M | $1.16B | $1.56B | $1.92B | $1.94B | $1.82B |
| Net income | $653M | $899M | $1.23B | $1.53B | $1.54B | $1.42B |
| EPS (diluted) | $0.46 | $0.64 | $0.89 | $1.11 | $1.14 | — |
| Free cash flow | $840M | $844M | $1.22B | $1.51B | $1.45B | $1.57B |
| Operating margin | 10.7% | 13.4% | 15.8% | 16.9% | 16.2% | 14.7% |
| Net margin | 8.7% | 10.4% | 12.4% | 13.6% | 12.9% | 11.4% |
| Revenue growth | +26.1% | +14.4% | +14.3% | +14.6% | +5.4% | — |
| Cash + short-term investments | $1.08B | $899M | $1.30B | $1.42B | $1.05B | — |
| Total debt | $0K | $0K | $0K | $0K | $0K | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (CMG)
P/E 25.1x · P/S 2.9x · P/FCF 22.7x · P/B 16.2x · FCF yield 4.41% · Earnings yield 3.99% · Buyback yield (TTM) 7.82%
P/E at fiscal year-ends: Dec 2025 32.3x, Dec 2024 54.1x, Dec 2023 51.6x.
Insider sales (SEC Form 4, open-market, last ~7 months) (CMG)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-21 | Bush Matthew R | Controller, PAO | 2,675 | $96K | 11.1% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (CMG)
Consensus Buy (mean 2.23 on a 1–5 scale), 35 analysts; mean target USD 42.39 (low 32, high 53).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-21 | Wells Fargo | Target lowered | Overweight | $45 → $40 |
| 2026-10-21 | TD Cowen | Downgrade | Buy → Hold | $44 → $32 |
| 2026-10-19 | Citigroup | Target lowered | Buy | $45 → $43 |
| 2026-10-16 | Raymond James | Target lowered | Outperform | $42.5 → $37 |
| 2026-10-15 | Morgan Stanley | Target raised | Equal-Weight | $39 → $40 |
| 2026-10-15 | Stephens & Co. | Target lowered | Equal-Weight | $40 → $38 |
| 2026-09-29 | JP Morgan | Target lowered | Overweight | $40 → $37 |
| 2026-09-16 | Seaport Global | Initiated | Neutral | |
| 2026-09-01 | Mizuho | Reiterated | Outperform | $43 |
| 2026-09-01 | B of A Securities | Target raised | Buy | $50 → $53 |
| 2026-08-24 | Baird | Downgrade | Outperform → Neutral | $44 → $40 |
| 2026-08-05 | BTIG | Reiterated | Buy | $45 |
Total return (dividends reinvested) (CMG)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | -32.7% | -21.5% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -32.8% | -4.7% |
| Volatility (annualized) | 43.9% | 35.4% |
| Max drawdown | -32.7% (Oct 2025→Oct 2026) | -57.0% (Jun 2024→Oct 2026) |
CMG revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Food and beverage revenue | $3.33B | 99.5% | +9.4% |
| Delivery service revenue | $15.8M | 0.5% | +0.8% |
| Total revenue | $3.35B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
CMG suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Related party | Tractor Beverages | “Accordingly, we have identified Tractor as a related party.” |
| Related party | Vebu | “As we are a significant customer of Vebu and maintain board representation, we have determined that Vebu is a related party.” |
Quoted from the company's 10-K filed Feb 4, 2026.
CMG company outlook (results filed Jul 29, 2026)
- “For 2026, management is anticipating the following: • Full year comparable restaurant sales growth in the low single digit range • 350 to 370 new restaurant openings, which includes 10 to 15 international partner-operated restaurants.”
Quoted word-for-word from the SEC 8-K results press release.
CMG analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.29 | $0.29 | +0.8% | $3.28B | 32 |
| Next quarter (ends Dec 2026) | $0.28 | $0.28 | +1.2% | $3.30B | 32 |
| Current fiscal year (ends Dec 2026) | $1.15 | $1.13 | +1.2% | $13.02B | 34 |
| Next fiscal year (ends Dec 2027) | $1.37 | $1.35 | +0.9% | $14.42B | 34 |
CMG options: expected move
Options price a move of about ±7.9% (±$2.23) by Oct 30, 2026, which includes earnings on Oct 28, 2026. Over the last 8 reports the stock moved ±8.6% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Oct 30, 2026 | 7 | 67.0% | ±7.9% |
| Nov 6, 2026 | 14 | 56.1% | ±9.1% |
| Nov 13, 2026 | 21 | 52.0% | ±10.2% |
| Nov 20, 2026 | 28 | 47.3% | ±10.7% |
| Nov 27, 2026 | 35 | 45.6% | ±11.4% |
| Dec 4, 2026 | 42 | 43.7% | ±12.0% |
| Dec 18, 2026 | 56 | 42.5% | ±13.5% |
| Jan 15, 2027 | 84 | 41.5% | ±16.0% |
30-day implied volatility 47.2% vs 38.4% realized over the last 30 trading days. Put/call ratio (volume) 0.46. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:57 UTC)
| Price | USD 28.14 |
|---|---|
| Change | ▲ 0.07% (up) |
| Previous Close | USD 28.12 |
| Open | USD 28.09 |
| Day Range | USD 27.82 – 28.47 |
| 52-Week Range | USD 27.82 – 42.19 |
| Volume | 26,826,828 shares |
| Market Cap | $35.61B |
| Exchange | NYQ |
Technical Analysis (CMG)
Nexqual's technical model rates CMG "SELL" based on 3 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 09:57 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 22.76 (oversold) |
| vs SMA50 | Below (USD 33.62) |
| MACD | -1.32 (negative) |
Analyst Ratings (CMG)
Wall Street analysts rate CMG "Buy" based on 35 analysts, with a mean price target of USD 42.39 (range USD 32–53), per Nexqual as of October 23, 2026 at 09:57 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 35 |
| Mean Target | USD 42.39 |
| High Target | USD 53 |
| Low Target | USD 32 |
| Buy / Hold / Sell | 23 / 12 / 0 |
Earnings (CMG)
| Next Earnings Date | 2026-10-28 |
|---|---|
| EPS Estimate | USD 0.29 |
| Revenue Estimate | $3.28B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.33 vs est 0.32 ▲ beat |
| 2026-03-31 | USD 0.24 vs est 0.24 ▲ beat |
| 2025-12-31 | USD 0.25 vs est 0.24 ▲ beat |
| 2025-09-30 | USD 0.29 vs est 0.29 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:57 UTC.
Financials & Fundamentals (CMG)
| Total Revenue | $12.42B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +9.30% |
| Gross Margin | +39.36% |
| Operating Margin | +16.11% |
| Profit Margin | +11.43% |
| ROE | +49.56% |
| Debt / Equity | 2.46 |
| Current Ratio | 0.72 |
| Total Cash | $677.86M |
| Total Debt | $5.42B |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $1.57B (12.6% of revenue) |
Source: Nexqual, October 23, 2026 at 09:57 UTC.
Financial Health Score (CMG)
Nexqual rates Chipotle Mexican Grill, Inc.'s overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 09:57 UTC.
| Growth | Solid — Revenue +5% YoY (annual) |
|---|---|
| Profitability | Solid — Gross margin 39%, operating 16% (last 12 months) |
| Balance Sheet | Critical — $1.05B cash and investments, no debt (Dec 2025, SEC) |
| Cash Flow | Solid — FCF $1.57B (last 4 quarters to Jun 2026, SEC), 13% margin |
| Efficiency | Strong — ROE 50%, ROA 13.1% |
Ownership (CMG)
| Insider Ownership | +0.72% |
|---|---|
| Institutional Ownership | +92.44% |
| Shares Outstanding | 1.27B |
| Float | 1.26B |
| Short % of Float | +3.39% |
Source: Nexqual, October 23, 2026 at 09:57 UTC.
Leadership (CMG)
Chipotle Mexican Grill, Inc. is led by Scott Boatwright, CEO & Director, per Nexqual as of October 23, 2026 at 09:57 UTC.
| CEO & Director | Scott Boatwright |
|---|---|
| President and Chief Strategy & Technology Officer | Curtis E. Garner |
| Chief Financial Officer | Adam Rymer |
| Chief Operating Officer | Jason Kidd |
| Managing Director of Canada | Anat Davidzon |
Major Backers & Investors (CMG)
Notable institutional backers of Chipotle Mexican Grill, Inc. include JPMorgan, Capital Group, Price (T.Rowe) Associates Inc, according to Nexqual as of October 23, 2026 at 09:57 UTC.
Active Investors
| Investor | Stake |
|---|---|
| JPMorgan | 5.23% |
| Capital Group | 3.62% |
| Price (T.Rowe) Associates Inc | 3.06% |
| FMR, LLC | 2.71% |
| Capital International Investors | 2.38% |
| AMERICAN FUNDS FUNDAMENTAL INVESTORS | 1.44% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 11.39% |
| BlackRock | 10.27% |
| State Street | 4.4% |
| Geode Capital | 2.87% |
Source: Nexqual, October 23, 2026 at 09:57 UTC.
From Chipotle Mexican Grill, Inc.'s Latest SEC 10-K Filing (filed 2026-02-04)
Key Strengths & Strategy (as disclosed to the SEC)
- We also believe that the design of our restaurants is our proprietary trade dress and have registered elements of our restaurant design for trade dress protection in the U.S. as well.
Legal & Regulatory Risks (Item 1A, quoted)
- We could be party to litigation or other legal proceedings that could adversely affect our business, results of operations and reputation.
- We have been and will continue to be subject to litigation and other legal proceedings that may adversely affect our business, including claims brought by employees, guests, government agencies, suppliers, distributors, shareholders, job applicants or others.
- Compliance with these laws and regulations, and future new laws or changes in these laws or regulations that impose additional requirements, can be costly.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| QSR | Restaurant Brands International | USD 76.41 | ▲ 3.05% |
| YUM | Yum! Brands, Inc. | USD 154.45 | ▲ 2.12% |
| DRI | Darden Restaurants, Inc. | USD 217.56 | ▲ 1.42% |
| YUMC | Yum China Holdings, Inc. | USD 44.76 | ▲ 0.67% |
| TXRH | Texas Roadhouse, Inc. | USD 172.78 | ▲ 2.96% |
| SBUX | Starbucks Corporation | USD 101.91 | ▲ 2.86% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:57 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt