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Chipotle Mexican Grill vs Restaurant Brands International: CMG and QSR compared
Chipotle Mexican Grill is the larger company: $3.3B of revenue in its latest quarter (Q3 2026) against $2.5B for Restaurant Brands International (Q3 2026). Chipotle Mexican Grill is growing faster (+10% against +3% a year earlier). Restaurant Brands International is more profitable, with an operating margin of 27.6% against 13.7%.
Where the money goes: CMG and QSR
Chipotle Mexican Grill (CMG) · Q3 2026
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 follows the revenue to costs, profit and cash.
Restaurant Brands International (QSR) · Q3 2026
Restaurant Brands International, Q3 2026: revenue $2.5B (+3% year over year), operating margin 27.6%, net earnings $542M, operating cash flow $551M. The chart follows the revenue to costs, profit and cash.
| Chipotle Mexican Grill (CMG) | Restaurant Brands International (QSR) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $3.3B | $2.5B |
| Revenue growth, Y/Y | +10% | +3% |
| Operating margin | 13.7% | 27.6% |
| Net earnings | $340M | $542M |
| Net margin | 10.3% | 21.5% |
| Operating cash flow | $590M | $551M |
| Free cash flow | $347M | $479M |
| Market value | $43.6B | $35.5B |
| P/E | 32.2× | 18.1× |
| Analysts’ mean target | $40.57 | $85.32 |
Where the revenue comes from
Chipotle Mexican Grill
- Food and beverage revenue: $3.3B (100%)
- Delivery service revenue: $15.2M (0%)
Restaurant Brands International
- TH: $1.1B (45%)
- RH: $487M (19%)
- BK: $345M (14%)
- INTL: $289M (11%)
Questions
Which is bigger, Chipotle Mexican Grill or Restaurant Brands International?
Chipotle Mexican Grill is the larger company: $3.3B of revenue in its latest quarter (Q3 2026) against $2.5B for Restaurant Brands International (Q3 2026).
Is Chipotle Mexican Grill or Restaurant Brands International growing faster?
Chipotle Mexican Grill is growing faster (+10% against +3% a year earlier).
Which is more profitable, Chipotle Mexican Grill or Restaurant Brands International?
Restaurant Brands International is more profitable, with an operating margin of 27.6% against 13.7%.
More: Chipotle Mexican Grill earnings · how Chipotle Mexican Grill makes money · Restaurant Brands International earnings · how Restaurant Brands International makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 29, 2026; 10-Q filed Oct 29, 2026). Fiscal quarters can end on different dates. Not investment advice.