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Chipotle Mexican Grill (CMG) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 29, 2026 · Chipotle Mexican Grill (CMG) Q3 2026 earnings results →
Q3 2026 Revenue up 10% year over year to $3.3B · 10¢ of every $1 of revenue kept as net profit · operating margin 13.7%
Chipotle Mexican Grill made $3.3B in Q3 2026 (+10% Y/Y): Food and beverage revenue $3.3B, Delivery service revenue $15.2M. Operating margin 13.7%, net earnings $340M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 29, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $3.3B in Q3 2026, up 10% year over year and down 2% from the previous quarter. Food and beverage revenue was the largest line at 100% of revenue. Food and beverage revenue added $0.29B year over year (up 10%), 100% of the total change.
Operating profit was $0.45B, a 13.7% margin (down 2.2 points year over year). Operating profit fell $0.03B even though revenue rose $0.29B versus Q3 2025, so costs grew faster than sales. Total costs grew 12% against revenue growth of 10%. The fastest-growing cost line was General & admin (+26%). Net earnings were $0.34B, down 11% year over year. The effective tax rate was 25.6%.
Operating cash flow was $0.59B (up 4% year over year), 174% of net earnings. Non-cash charges added back $0.10B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items added $0.12B. Capital expenditures of $0.24B left free cash flow of $0.35B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 29, 2026 | $3.3B | +10% | 13.7% | $340M | $590M |
| Q2 2026 | 10-Q | Jul 31, 2026 | $3.3B | +9% | 15.7% | $404M | $681M |
| Q1 2026 | 10-Q | Apr 30, 2026 | $3.1B | +7% | 12.9% | $303M | $651M |
| Q4 2025 | 10-K | Feb 4, 2026 | $3.0B | +5% | 14.1% | $331M | $426M |
| Q3 2025 | 10-Q | Oct 30, 2025 | $3.0B | +8% | 15.9% | $382M | $570M |
| Q2 2025 | 10-Q | Jul 24, 2025 | $3.1B | +3% | 18.2% | $436M | $561M |
| Q1 2025 | 10-Q | Apr 24, 2025 | $2.9B | +6% | 16.7% | $387M | $557M |
Charts
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Chipotle Mexican Grill
Chipotle Mexican Grill, Inc., a Delaware corporation, together with its subsidiaries (“Chipotle,” “we,” “us,” or “our”) owns and operates Chipotle Mexican Grill restaurants, which feature a relevant menu of burritos, burrito bowls (a burrito without the tortilla), quesadillas, tacos, and salads. We strive to cultivate a better world by serving responsibly sourced, classically cooked, real food with wholesome ingredients and without artificial colors, flavors or preservatives. We are passionate about providing a great guest experience and making our food more accessible to everyone while continuing to be a brand with a demonstrated purpose. Our first Chipotle restaurant opened in Denver, Colorado in 1993.
In its own words, from its 10-K, filed Feb 4, 2026.
Chipotle Mexican Grill against its Retail-Eating Places peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +10% against the peers' median +8%. Operating margin: 13.7% against the peers' median 13.0%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| CMG Chipotle Mexican Grill | Q3 2026 | $3.3B | +10% | 13.7% |
| MCD McDonald's | Q3 2026 | $7.2B | +1% | 50.2% |
| ARMK Aramark | Q3 FY26 | $5.1B | +9% | 4.3% |
| YUMC Yum China Holdings | Q3 2026 | $3.5B | +8% | 13.0% |
| DRI Darden Restaurants | Q1 FY27 | $3.2B | +5% | 10.0% |
| QSR Restaurant Brands International | Q3 2026 | $2.5B | +3% | 27.6% |
| YUM Yum Brands | Q3 2026 | $2.1B | +4% | 112.8% |
| TXRH Texas Roadhouse | Q3 2026 | $1.6B | +10% | 6.5% |
| EAT Brinker International | Q1 FY27 | $1.5B | +9% | 10.2% |
Source: Chipotle Mexican Grill 10-Q on SEC EDGAR · CIK 1058090 · Retail-Eating Places
13F: who owns CMG and who is buying
More on CMG
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- Chipotle Mexican Grill stock forecast, price target and fair value
- Who owns Chipotle Mexican Grill stock: holders, funds and Congress trades
- Chipotle Mexican Grill guidance and outlook
- Is Chipotle Mexican Grill a takeover target? LBO and rumors
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Chipotle Mexican Grill guidance history: guided vs reported
- Chipotle Mexican Grill operating margin by quarter
- Chipotle Mexican Grill net income by quarter
- Chipotle Mexican Grill free cash flow by quarter
- Chipotle Mexican Grill capital expenditures by quarter
- Chipotle Mexican Grill Food and beverage revenue revenue by quarter
- Chipotle Mexican Grill Delivery service revenue revenue by quarter