Filing Flows › Chipotle Mexican Grill (CMG) › Q2 2026 › vs Q2 2025
Chipotle Mexican Grill (CMG) Q2 2026 vs Q2 2025 (year over year)
Chipotle Mexican Grill's revenue rose $285M (+9%) from $3.1B in Q2 2025 to $3.3B in Q2 2026. The biggest changes: Food and beverage revenue +$285M (+9%); Delivery service revenue +$131K (+0.8%). Operating margin 15.7% against 18.2% (-2.6 pts).
Chipotle Mexican Grill, Q2 2026: revenue $3.3B (+9% year over year), operating margin 15.7%, net earnings $404M, operating cash flow $681M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 15.7% | 18.2% | -2.6 pts |
| Net margin | 12.1% | 14.2% | -2.2 pts |
| Free cash flow margin | 13.8% | 13.1% | +0.8 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Food and beverage revenue | $3.3B | $3.0B | $285M | +9% |
| Delivery service revenue | $15.8M | $15.6M | $131K | +0.8% |
| Revenue | $3.3B | $3.1B | $285M | +9% |
| Operating profit | $526M | $559M | −$33.5M | -6% |
| Costs & expenses | $2.8B | $2.5B | $319M | +13% |
| Pre-tax earnings | $533M | $577M | −$44.1M | -8% |
| General & admin | $190M | $172M | $18.3M | +11% |
| Other operating costs | $2.6B | $2.3B | $300M | +13% |
| Net earnings | $404M | $436M | −$32.6M | -7% |
| Income tax | $130M | $141M | −$11.6M | -8% |
| Depreciation & amortization | $98.3M | $90.9M | $7.4M | +8% |
| Share-based compensation | $26.5M | $37.5M | −$11.0M | -29% |
| Working capital & other | $152M | −$3.3M | $156M | — |
| Operating cash flow | $681M | $561M | $119M | +21% |
| Free cash flow (OCF − capex) | $463M | $401M | $62.6M | +16% |
| Capital expenditures | $217M | $161M | $56.7M | +35% |
Questions
How much did Chipotle Mexican Grill's revenue grow year over year in Q2 2026?
Chipotle Mexican Grill's revenue rose $285M (+9%) from $3.1B in Q2 2025 to $3.3B in Q2 2026.
What drove Chipotle Mexican Grill's revenue change in Q2 2026?
Food and beverage revenue +$285M (+9%); Delivery service revenue +$131K (+0.8%).