Filing Flows › Chipotle Mexican Grill (CMG) › Q3 2026 › vs Q3 2025
Chipotle Mexican Grill (CMG) Q3 2026 vs Q3 2025 (year over year)
Chipotle Mexican Grill's revenue rose $290M (+10%) from $3.0B in Q3 2025 to $3.3B in Q3 2026. The biggest changes: Food and beverage revenue +$289M (+10%); Delivery service revenue +$1.0M (+7%). Operating margin 13.7% against 15.9% (-2.2 pts).
Chipotle Mexican Grill, Q3 2026: revenue $3.3B (+10% year over year), operating margin 13.7%, net earnings $340M, operating cash flow $590M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 13.7% | 15.9% | -2.2 pts |
| Net margin | 10.3% | 12.7% | -2.4 pts |
| Free cash flow margin | 10.5% | 13.5% | -3.0 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Food and beverage revenue | $3.3B | $3.0B | $289M | +10% |
| Delivery service revenue | $15.2M | $14.2M | $1.0M | +7% |
| Revenue | $3.3B | $3.0B | $290M | +10% |
| Operating profit | $452M | $477M | −$25.2M | -5% |
| Costs & expenses | $2.8B | $2.5B | $315M | +12% |
| Pre-tax earnings | $457M | $497M | −$39.8M | -8% |
| General & admin | $185M | $147M | $38.5M | +26% |
| Other operating costs | $2.7B | $2.4B | $276M | +12% |
| Net earnings | $340M | $382M | −$42.2M | -11% |
| Income tax | $117M | $115M | $2.4M | +2% |
| Depreciation & amortization | $103M | $90.5M | $12.1M | +13% |
| Share-based compensation | $31.9M | $18.8M | $13.0M | +69% |
| Working capital & other | $116M | $78.2M | $37.6M | +48% |
| Operating cash flow | $590M | $570M | $20.5M | +4% |
| Free cash flow (OCF − capex) | $347M | $406M | −$59.1M | -15% |
| Capital expenditures | $243M | $163M | $79.5M | +49% |
Questions
How much did Chipotle Mexican Grill's revenue grow year over year in Q3 2026?
Chipotle Mexican Grill's revenue rose $290M (+10%) from $3.0B in Q3 2025 to $3.3B in Q3 2026.
What drove Chipotle Mexican Grill's revenue change in Q3 2026?
Food and beverage revenue +$289M (+10%); Delivery service revenue +$1.0M (+7%).