Chipotle's revenue growth has more than halved to 9.6% in 2026Q3 from 18.2% in 2024Q2, while operating margin compressed 600 basis points to 13.7%, suggesting the pricing and unit-expansion engine may be losing force.
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue growth decelerated to 9.6% in 2026Q3 while operating margin slid to 13.7% from 19.7% two years earlier, indicating cost inflation may be outrunning Chipotle's menu pricing power at the restaurant level.
The company's operational efficiency is highlighted as a key driver for its bullish outlook, contributing to long-term earnings compounding.
Chipotle's strong brand and reputation for responsibly sourced and freshly prepared food are central to its investment appeal.
The adoption of digital ordering and rewards programs enhances customer engagement and drives revenue growth.
Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Oct 28, 2026 | $0.27-6.9% vs $0.29 | $3.3B+0.2% vs $3.3B |
Q3 2026 Jul 29, 2026 | $0.33+3.5% vs $0.32 | $3.3B+0.5% vs $3.3B |
Q2 2026 Apr 29, 2026 | $0.24+1.1% vs $0.24 | $3.1B+0.7% vs $3.1B |
Q1 2026 Feb 3, 2026 | $0.25+5.0% vs $0.24 | $3.0B+0.7% vs $3.0B |
Chipotle Mexican Grill, Inc. CMG delivered solid revenue growth in the third quarter of 2026, but lower restaurant-level margins and weaker sales trends toward the end of the quarter raised concerns about profitability. New restaurant openings and positive comparable sales supported growth, while higher operating expenses and softer sales volumes weighed on margins.
Chipotle Mexican Grill continues to dominate the fast-casual dining space through high digital engagement and international expansion. e.l.f. Beauty is capturing significant market share in the cosmetics industry with its focus on accessible products.
CMG's Q3 revenue growth and positive traffic trends signal progress, but shrinking margins, rising costs and premium valuation warrant caution.
Chipotle (CMG) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Benchmark CMG against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Chipotle Mexican Grill, Inc. (CMG)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $34.43 | $44.16B | 31.69 | 5.41% | 10.83% | 55.68% | — | |
| $49.10 | $4.58B | 9.27 | 14.08% | 5.45% | 33.82% | — | |
| $71.89 | $2.9B | 68.93 | 15.38% | 2.72% | 7.69% | — | |
| $183.88 | $12.09B | 28.85 | 9.39% | 6.59% | 27.01% | 1.47% | |
| $59.15 | $6.89B | 108.14 | 22.41% | 4.5% | 7.87% | — | |
| $163.28 | $4.45B | 37.86 | 11.35% | 16.03% | — | 0.71% |
Chipotle Mexican Grill, Inc. (CMG) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
Chipotle Mexican Grill, Inc. (CMG) SEC filings — annual & quarterly reports (10-K, 10-Q)
Oct 28, 2026·SEC
Jul 29, 2026·SEC
Jul 8, 2026·SEC
Get notified when CMG posts new earnings or crosses analyst targets
Free. No account needed. Unsubscribe any time.
Chipotle Mexican Grill, Inc. (CMG) stock FAQ — growth, dividends, profitability & financials explained
Chipotle Mexican Grill, Inc. (CMG) reported $12.71B in revenue over the trailing twelve months. Revenue was $11.93B in fiscal year 2025. That is 2433% more than the $470.7M of fiscal year 2004.
Chipotle Mexican Grill, Inc. (CMG) grew revenue by 7.9% over the trailing twelve months, compared with the twelve months before.
Yes. Chipotle Mexican Grill, Inc. (CMG) earned $1.38B in net income over the trailing twelve months (a 10.8% net margin).
Chipotle Mexican Grill, Inc. (CMG) had a return on equity (ROE) of 55.7% over the trailing twelve months. That is well above the market's typical 10-15%.
Chipotle Mexican Grill, Inc. (CMG) generated $1.51B in free cash flow over the trailing twelve months.
