$CMG
CHIPOTLE MEXICAN GRILL INC

2024 Q2 Form 10-Q Financial Statement

#000105809024000015 Filed on April 25, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q4
Revenue $2.973B $2.702B $2.516B
YoY Change 18.22% 14.07% 15.4%
Cost Of Revenue $1.975B $1.824B $1.747B
YoY Change 16.18% 11.27% 13.48%
Gross Profit $998.1M $877.5M $769.5M
YoY Change 22.5% 20.37% 20.01%
Gross Profit Margin 33.57% 32.48% 30.58%
Selling, General & Admin $322.7M $347.5M $314.0M
YoY Change 12.07% 25.7% 18.46%
% of Gross Profit 32.33% 39.6% 40.81%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $83.56M $83.24M $85.49M
YoY Change 6.08% 8.69% 15.51%
% of Gross Profit 8.37% 9.49% 11.11%
Operating Expenses $406.2M $430.8M $399.5M
YoY Change 10.78% 22.01% 17.82%
Operating Profit $586.1M $446.8M $370.0M
YoY Change 30.8% 21.54% 22.46%
Interest Expense $21.86M $19.36M $18.91M
YoY Change 32.93% 116.38% 167.9%
% of Operating Profit 3.73% 4.33% 5.11%
Other Income/Expense, Net $21.86M $19.36M
YoY Change 32.93% 116.38%
Pretax Income $607.9M $460.7M $382.4M
YoY Change 35.62% 22.33% 26.03%
Income Tax $152.2M $101.4M $100.3M
% Of Pretax Income 25.04% 22.01% 26.22%
Net Earnings $455.7M $359.3M $282.1M
YoY Change 33.32% 23.19% 26.08%
Net Earnings / Revenue 15.33% 13.3% 11.21%
Basic Earnings Per Share $0.33 $13.09
Diluted Earnings Per Share $0.33 $13.01 $10.21
COMMON SHARES
Basic Shares Outstanding 27.47M shares 27.42M 27.44M
Diluted Shares Outstanding 1.382B shares 27.62M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.490B $1.420B $1.295B
YoY Change 9.87% 33.62% 44.08%
Cash & Equivalents $806.5M $727.4M $560.6M
Short-Term Investments $683.3M $692.5M $734.8M
Other Short-Term Assets $91.85M $98.12M $19.79M
YoY Change -11.19% -0.28% -77.1%
Inventory $35.56M $37.95M $39.31M
Prepaid Expenses $97.67M
Receivables $97.54M $89.84M $115.5M
Other Receivables $71.53M $0.00 $52.96M
Total Short-Term Assets $1.786B $1.646B $1.621B
YoY Change 14.77% 30.47% 37.83%
LONG-TERM ASSETS
Property, Plant & Equipment $2.266B $5.874B $2.170B
YoY Change -58.47% 196.45% 11.22%
Goodwill $21.94M $21.94M $21.94M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $14.52M $785.2M $8.896M
YoY Change -96.71% 6959.8% -23.95%
Other Assets $74.60M $84.63M $63.08M
YoY Change -3.3% 38.22% -0.12%
Total Long-Term Assets $7.134B $6.765B $6.424B
YoY Change 18.97% 16.81% 11.68%
TOTAL ASSETS
Total Short-Term Assets $1.786B $1.646B $1.621B
Total Long-Term Assets $7.134B $6.765B $6.424B
Total Assets $8.920B $8.411B $8.044B
YoY Change 18.11% 19.25% 16.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $203.5M $196.9M $197.6M
YoY Change 25.57% 7.81% 7.09%
Accrued Expenses $169.6M $568.2M $147.7M
YoY Change -69.86% 254.15% 0.1%
Deferred Revenue $182.3M $187.3M $209.7M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.043B $997.4M $1.031B
YoY Change 6.2% 11.55% 11.8%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $67.11M $3.968B $58.87M
YoY Change -98.18% 8362.72% 34.36%
Total Long-Term Liabilities $67.11M $3.968B $58.87M
YoY Change -98.18% 8362.72% 34.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.043B $997.4M $1.031B
Total Long-Term Liabilities $67.11M $3.968B $58.87M
Total Liabilities $5.208B $5.050B $4.982B
YoY Change 8.83% 10.46% 9.27%
SHAREHOLDERS EQUITY
Retained Earnings $1.683B $6.416B $6.057B
YoY Change -69.19% 25.32% 25.45%
Common Stock $2.038B $1.995B $1.957B
YoY Change 8.3% 7.85% 6.93%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.945B
YoY Change 15.48%
Treasury Stock Shares
Shareholders Equity $3.712B $3.361B $3.062B
YoY Change
Total Liabilities & Shareholders Equity $8.920B $8.411B $8.044B
YoY Change 18.11% 19.25% 16.12%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income $455.7M $359.3M $282.1M
YoY Change 33.32% 23.19% 26.08%
Depreciation, Depletion And Amortization $83.56M $83.24M $85.49M
YoY Change 6.08% 8.69% 15.51%
Cash From Operating Activities $562.6M $569.2M $265.5M
YoY Change -3.42% 25.1% -33.9%
INVESTING ACTIVITIES
Capital Expenditures $140.5M $132.7M $171.9M
YoY Change 2.37% 10.25% 19.69%
Acquisitions
YoY Change
Other Investing Activities -$195.7M -$168.3M $19.91M
YoY Change -23.22% 46.15% -149.72%
Cash From Investing Activities -$336.2M -$301.0M -$152.0M
YoY Change -14.26% 27.8% -17.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -145.3M -100.1M -155.3M
YoY Change 52.61% -48.38% -24.87%
NET CHANGE
Cash From Operating Activities 562.6M 569.2M 265.5M
Cash From Investing Activities -336.2M -301.0M -152.0M
Cash From Financing Activities -145.3M -100.1M -155.3M
Net Change In Cash 81.03M 168.1M -41.84M
YoY Change -14.83% 549.27% -473.34%
FREE CASH FLOW
Cash From Operating Activities $562.6M $569.2M $265.5M
Capital Expenditures $140.5M $132.7M $171.9M
Free Cash Flow $422.1M $436.5M $93.53M
YoY Change -5.21% 30.44% -63.74%

Facts In Submission

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CY2024Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-752000 usd
CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
290000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
167369000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
25894000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
586163000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
408966000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
753532000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
434860000 usd
CY2024Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
7859000 usd
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-245000 usd
CY2024Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
64207000 usd
CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
63745000 usd
CY2024Q1 cmg Acquisiion Of Treasury Stock Accrued In Accrued Liabilities
AcquisiionOfTreasuryStockAccruedInAccruedLiabilities
3646000 usd
CY2023Q1 cmg Acquisiion Of Treasury Stock Accrued In Accrued Liabilities
AcquisiionOfTreasuryStockAccruedInAccruedLiabilities
9422000 usd
CY2024Q1 us-gaap Number Of Restaurants
NumberOfRestaurants
3479 restaurant
CY2024Q1 cmg Number Of Regions In Which Entity Operates
NumberOfRegionsInWhichEntityOperates
9 region
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2024Q1 cmg Majority Gift Card Breakage Revenue Recognition Period
MajorityGiftCardBreakageRevenueRecognitionPeriod
P1Y
CY2024Q1 cmg Earned Points Expiration Period For Inactivity
EarnedPointsExpirationPeriodForInactivity
P6M
CY2024Q1 cmg Cash And Cash Equivalents At Carrying Value And Debt Securities Held To Maturity Amortized Cost
CashAndCashEquivalentsAtCarryingValueAndDebtSecuritiesHeldToMaturityAmortizedCost
2148671000 usd
CY2024Q1 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Gain
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain
2203000 usd
CY2024Q1 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss
4350000 usd
CY2024Q1 cmg Cash And Cash Equivalents At Carrying Value And Debt Securities Held To Maturity Fair Value
CashAndCashEquivalentsAtCarryingValueAndDebtSecuritiesHeldToMaturityFairValue
2146524000 usd
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
727394000 usd
CY2024Q1 us-gaap Held To Maturity Securities Current
HeldToMaturitySecuritiesCurrent
692474000 usd
CY2024Q1 us-gaap Held To Maturity Securities Noncurrent
HeldToMaturitySecuritiesNoncurrent
729951000 usd
CY2023Q4 cmg Cash And Cash Equivalents At Carrying Value And Debt Securities Held To Maturity Amortized Cost
CashAndCashEquivalentsAtCarryingValueAndDebtSecuritiesHeldToMaturityAmortizedCost
1812923000 usd
CY2023Q4 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Gain
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain
5654000 usd
CY2023Q4 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss
4258000 usd
CY2023Q4 cmg Cash And Cash Equivalents At Carrying Value And Debt Securities Held To Maturity Fair Value
CashAndCashEquivalentsAtCarryingValueAndDebtSecuritiesHeldToMaturityFairValue
1814319000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
560609000 usd
CY2023Q4 us-gaap Held To Maturity Securities Current
HeldToMaturitySecuritiesCurrent
734838000 usd
CY2023Q4 us-gaap Held To Maturity Securities Noncurrent
HeldToMaturitySecuritiesNoncurrent
518624000 usd
CY2024Q1 us-gaap Equity Method Investments
EquityMethodInvestments
8376000 usd
CY2023Q4 us-gaap Equity Method Investments
EquityMethodInvestments
8896000 usd
CY2024Q1 us-gaap Other Investments
OtherInvestments
46864000 usd
CY2023Q4 us-gaap Other Investments
OtherInvestments
45864000 usd
CY2024Q1 cmg Equity Investments
EquityInvestments
55240000 usd
CY2023Q4 cmg Equity Investments
EquityInvestments
54760000 usd
CY2024Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
399098000 usd
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
113496000 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
102487000 usd
CY2024Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
157806000 usd
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
36681000 usd
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
20670000 usd
CY2024Q1 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
31286000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
16696000 usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
678000 usd
CY2023Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
586000 usd
CY2024Q1 cmg Excess Tax Benefit On Stock Based Compensation Recognized In Provision For Income Taxes
ExcessTaxBenefitOnStockBasedCompensationRecognizedInProvisionForIncomeTaxes
13255000 usd
CY2023Q1 cmg Excess Tax Benefit On Stock Based Compensation Recognized In Provision For Income Taxes
ExcessTaxBenefitOnStockBasedCompensationRecognizedInProvisionForIncomeTaxes
10162000 usd
CY2024Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.220
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.225
CY2024Q1 cmg Lessee Operating Lease Option To Extend Additional Periods
LesseeOperatingLeaseOptionToExtendAdditionalPeriods
P5Y
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
90654000 usd
CY2024Q1 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
1425000 usd
CY2023Q1 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
1223000 usd
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
359287000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
291644000 usd
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27444000 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27624000 shares
CY2024Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
180000 shares
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
164000 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
27624000 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
27788000 shares
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
13.09
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
10.56
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
13.01
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
10.50
CY2024Q1 cmg Securities Excluded From Computation Of Earnings Per Share Amount Due To Performance Conditions
SecuritiesExcludedFromComputationOfEarningsPerShareAmountDueToPerformanceConditions
49000 shares
CY2023Q1 cmg Securities Excluded From Computation Of Earnings Per Share Amount Due To Performance Conditions
SecuritiesExcludedFromComputationOfEarningsPerShareAmountDueToPerformanceConditions
48000 shares
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
49000 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
153000 shares
CY2024Q1 cmg Shares Excluded From Diluted Earnings Per Share
SharesExcludedFromDilutedEarningsPerShare
98000 shares
CY2023Q1 cmg Shares Excluded From Diluted Earnings Per Share
SharesExcludedFromDilutedEarningsPerShare
201000 shares
CY2024Q1 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
21587000 usd
CY2023Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
7640000 usd
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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