Chipotle Mexican Grill Inc

chipotle.com

Chipotle Mexican Grill Inc (NYSE: CMG) is a fast-casual restaurant company that owns and operates Mexican food restaurants across the United States, Canada, and internationally. Revenue comes almost entirely from food and beverage sales at company-owned restaurants, supplemented by a delivery service revenue line, with no franchise royalty stream from domestic locations. As of December 31, 2025, Chipotle operated 4,042 company-owned restaurants plus a small number of partner-operated locations, including 11 opened in the Middle East during 2025. The company owns and operates all of its U.S. and Canadian restaurants directly, making it one of the largest employer-operators in the restaurant industry. Digital sales represented 36.7% of total food and beverage revenue in FY2025. Comparable restaurant sales declined 1.7% in FY2025, driven by a 2.9% drop in transactions partially offset by a 1.2% increase in average check. Capital expenditures totaled $666.3 million in FY2025, with new restaurant construction averaging approximately $1.5 million per unit before landlord reimbursements.