Filing Flows

Filing Flows › Companies › Chipotle Mexican Grill › Cash flow

Chipotle Mexican Grill cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$347M in Q3 2026 · $1.5B over twelve months

Operating cash flow$590M
Capital spending−$243M
Free cash flow+$347M
Cash / net income1.7×

Analysis

In Q3 2026, Chipotle Mexican Grill generated $590M of operating cash flow and spent $243M on capital projects, leaving free cash flow of $347M. That is $59.1M less than in Q3 2025 ($406M).

Over the twelve months to Sep 30, 2026, operating cash flow was $2.3B; the largest uses were buybacks ($2.2B), capital spending ($838M), taxes on employees’ shares ($57.6M); besides operations, cash came from other investing ($689M), other financing ($5.2M); the cash balance fell by $59.6M.

Operating cash flow was $590M against net income of $340M — 1.7× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$103M, income taxes payable +$91.8M, employee-related liabilities −$36.6M.

Free cash flow

Chipotle Mexican Grill: free cash flow by quarterChipotle Mexican Grill: free cash flow by quarter$354MQ4 2024$412MQ1 2025$401MQ2 2025$406MQ3 2025$228MQ4 2025$471MQ1 2026$463MQ2 2026$347MQ3 2026
Operating cash flow less capital spending.
Chipotle Mexican Grill: operating cash flow against capital spendingChipotle Mexican Grill: operating cash flow against capital spendingOperating cash flowCapital spending$527M$173MQ4 2024$557M$145MQ1 2025$561M$161MQ2 2025$570M$163MQ3 2025$426M$197MQ4 2025$651M$180MQ1 2026$681M$217MQ2 2026$590M$243MQ3 2026
Latest (Q3 2026): Operating cash flow $590M, Capital spending $243M.

Capital allocation, year by year

Chipotle Mexican Grill: where the cash came from (up) and went (down), by fiscal yearChipotle Mexican Grill: where the cash came from (up) and went (down), by fiscal yearOperating cash flowCapital spendingBuybacksFY2021: Operating cash flow $1.3BFY2021: Capital spending −$442MFY2021: Buybacks −$466M$1.3BFY2021FY2022: Operating cash flow $1.3BFY2022: Capital spending −$479MFY2022: Buybacks −$830M$1.3BFY2022FY2023: Operating cash flow $1.8BFY2023: Capital spending −$561MFY2023: Buybacks −$592M$1.8BFY2023FY2024: Operating cash flow $2.1BFY2024: Capital spending −$594MFY2024: Buybacks −$1.0B$2.1BFY2024FY2025: Operating cash flow $2.1BFY2025: Capital spending −$666MFY2025: Buybacks −$2.4B$2.1BFY2025
Over these 5 years operating cash flow totalled $8.6B; the largest uses were buybacks ($5.3B) and capital spending ($2.7B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$903M
Debtnone
Net cash$903M

Chipotle Mexican Grill funds itself: free cash flow was $1.5B over the last twelve months, with $903M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Chipotle Mexican Grill: sources (+) and uses (−) of cash, Q3 2026Chipotle Mexican Grill: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$590MCash drawn (+) / kept (−)−$406MCapital spending−$243MOther investing$175MBuybacks−$110MTaxes on employees’ shares−$7.3MOther financing$1.3MExchange rates−$39K
Chipotle Mexican Grill: sources (+) and uses (−) of cash, TTM to Q3 2026Chipotle Mexican Grill: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$2.3BBuybacks−$2.2BCapital spending−$838MOther investing$689MCash drawn (+) / kept (−)$59.6MTaxes on employees’ shares−$57.6MOther financing$5.2MExchange rates$432K

From profit to cash

Chipotle Mexican Grill: net income to operating cash flow, Q3 2026Chipotle Mexican Grill: net income to operating cash flow, Q3 2026Net income$340MDepreciation & amortization$103MStock-based pay$31.9MDeferred taxes$5.7MOther non-cash$2.4MReceivables$881KInventory−$2.3MPayables$10.3MAccrued liabilities$13.3MEmployee-related liabilities−$36.6MDeferred revenue$7.5MPrepaid and other assets−$7.1MOther liabilities$307KIncome taxes payable$91.8M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksCash drawn (+) / kept (−)Free cash flow
Q3 2026$590M−$243M−$110M−$406M$347M
Q2 2026$681M−$217M−$654M$18.5M$463M
Q1 2026$651M−$180M−$701M$104M$471M
Q4 2025$426M−$197M−$742M$344M$228M
Q3 2025$570M−$163M−$687M$146M$406M
Q2 2025$561M−$161M−$443M−$119M$401M
Q1 2025$557M−$145M−$554M$22.3M$412M
Q4 2024$527M−$173M−$339M−$51.9M$354M

Chipotle Mexican Grill: income statement and cash flow

Chipotle Mexican Grill, Q3 2026: revenue $3.3B (+10% year over year), operating margin 13.7%. The chart follows the revenue to costs, profit and cash.

Chipotle Mexican Grill: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.