CHIPOTLE MEXICAN GRILL INC (CMG) closed fiscal year 2025 with a gross margin of 25.4 % and a net margin of 12.9 %.
CHIPOTLE MEXICAN GRILL INC (CMG) closed fiscal year 2025 with a gross margin of 25.4 % and a net margin of 12.9 %. The same year shows an EBITDA margin of 19.3 % and an EBIT margin of 16.2 %. The free cash flow margin was 12.1 %. Against the previous year the gross margin moved −1.3 pp and the net margin −0.7 pp. Across the period the gross margin ranges between 23.9 % in 2022 and 26.7 % in 2024. The series covers 18 fiscal years, from 2008 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 23.88 % | 26.20 % | 26.67 % | 25.38 % |
| EBITDA margin (%) | 13.27 % | 17.45 % | 19.43 % | 18.75 % | 19.77 % | 19.56 % | 19.99 % | 19.86 % | 4.63 % | 9.70 % | 9.46 % | 11.76 % | 8.83 % | 14.04 % | 16.76 % | 19.02 % | 19.90 % | 19.26 % |
| EBIT margin (%) | 9.31 % | 13.42 % | 15.68 % | 15.45 % | 16.69 % | 16.57 % | 17.30 % | 16.96 % | 0.89 % | 6.05 % | 5.31 % | 7.95 % | 4.85 % | 10.67 % | 13.44 % | 15.78 % | 16.94 % | 16.23 % |
| Net margin (%) | 5.87 % | 8.35 % | 9.75 % | 9.47 % | 10.18 % | 10.19 % | 10.84 % | 10.57 % | 0.59 % | 3.94 % | 3.63 % | 6.27 % | 5.94 % | 8.65 % | 10.41 % | 12.45 % | 13.56 % | 12.88 % |
| FCF margin (%) | 3.48 % | 9.45 % | 9.59 % | 11.45 % | 8.16 % | 10.23 % | 10.45 % | 9.46 % | 2.47 % | 5.62 % | 6.87 % | 6.94 % | 4.85 % | 11.12 % | 9.77 % | 12.39 % | 13.36 % | 12.14 % |
