CMG Chipotle Mexican Grill margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 62

Gross margin

23.8%

Operating margin

14.1%

EBITDA margin

17.5%

Net margin

10.8%

Using the latest TTM figures, Chipotle Mexican Grill shows a gross margin of 23.8%, an operating margin of 14.1%, an EBITDA margin of 17.5%, and a net margin of 10.8%. EBITDA margin had the largest decline, contracting by 2.6 percentage points, while the other available margins also decreased.

CMG margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Chipotle Mexican Grill recorded average margins of 25.8% gross, 16.06% operating, 19.78% EBITDA, and 12.7% net. The current gross, operating, EBITDA, and net margins are all below their three-year averages.

CMG margin expansion

Year-over-year margin changes in percentage points

Chipotle Mexican Grill's gross margin contracted by 1.9 percentage points, operating margin by 2.3 percentage points, EBITDA margin by 2.6 percentage points, and net margin by 2.2 percentage points, led by EBITDA margin with a decline of 2.6 percentage points.

Gross margin expansion

-1.9pp

Operating margin expansion

-2.3pp

EBITDA margin expansion

-2.6pp

Net margin expansion

-2.2pp

CMG Gross margin

Over the last 3 years, Chipotle Mexican Grill's gross margin averaged 25.8%. As of the latest period, Chipotle Mexican Grill's current gross margin is 23.8%, which is 2 percentage points below its three-year average. During this period, gross margin reached a high of 27.1% in Jun 2024 and a low of 23.8% in Sep 2026.

CMG Operating margin

Looking at the last 3 years, Chipotle Mexican Grill had an average operating margin of 16.06%. The current operating margin stands at 14.1%, 2 percentage points below its three-year average. Looking back over the last 3 years, Chipotle Mexican Grill's operating margin reached 17% at its highest point in Mar 2025 and 14.1% at its lowest in Sep 2026.

CMG EBITDA margin

Across the last 3 years, Chipotle Mexican Grill's EBITDA margin came to 19.78%. The current EBITDA margin of 17.5% is 2.3 percentage points below its three-year average. EBITDA margin was highest at 20.8% in Mar 2025 and lowest at 17.5% in Sep 2026.

CMG Net margin

Chipotle Mexican Grill's net margin averaged 12.7% over the last 3 years. Chipotle Mexican Grill currently reports a net margin of 10.8%, 1.9 percentage points below its three-year average. Over the last 3 years, Chipotle Mexican Grill's net margin peaked at 13.6% in Mar 2025 and reached a low of 10.8% in Sep 2026.

CMG margin group comparison

Margins compared with peer-group, industry and sector averages

Chipotle Mexican Grill's gross margin of 23.8% is below the Consumer Cyclical sector, the industry and its peers average. In comparison with its Consumer Cyclical sector average of 36.3%, Chipotle Mexican Grill's gross margin is 34% lower.

CMG margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Chipotle Mexican Grill's gross margin?

The current gross margin for CMG is 23.8% as of Sep 30, 2026.

What is Chipotle Mexican Grill's operating margin?

As of Sep 30, 2026, CMG has an operating margin of 14.1%.

What is Chipotle Mexican Grill's EBITDA margin?

As of Sep 30, 2026, CMG has an EBITDA margin of 17.5%.

What is Chipotle Mexican Grill's net margin?

For the period ending Sep 30, 2026, CMG recorded a net margin of 10.8%.

What are the average margins of CMG?

Chipotle Mexican Grill's gross, operating, EBITDA, and net margins averaged 25.8% gross, 16.1% operating, 19.8% EBITDA, and 12.7% net over the last 3 years.

What are the highest historical margins of CMG?

Within the 5-year period, CMG recorded its highest margins at 27.1% gross in Jun 2024, 17% operating in Mar 2025, 20.8% EBITDA in Mar 2025, and 13.6% net in Mar 2025.

What are the lowest historical margins of CMG?

Across the 5-year period, CMG posted its lowest margins at 22.2% gross in Mar 2022, 10.7% operating in Dec 2021, 14.1% EBITDA in Dec 2021, and 8.7% net in Dec 2021.