TTM
36.1%
YoY change
−1.30pp
Trough year (2016)
12.8%
Peak year (2004)
53.6%
Latest annual
25.4%
Gross Margin history chart for Chipotle Mexican Grill (CMG) from 2004 to 2025
Latest: 25.4%
Gross Margin change chart for Chipotle Mexican Grill (CMG) from 2004 to 2025
Latest: −1.30pp
Gross Margin history table for Chipotle Mexican Grill (CMG) from 2004 to 2025
| 2025 | 25.4% | -1.30pp | ||
| 2024 | 26.7% | +0.48pp | ||
| 2023 | 26.2% | +2.32pp | ||
| 2022 | 23.9% | +1.26pp | ||
| 2021 | 22.6% | +5.22pp | ||
| 2020 | 17.4% | -3.06pp | ||
| 2019 | 20.5% | +1.73pp | ||
| 2018 | 18.7% | +1.83pp | ||
| 2017 | 16.9% | +4.13pp | ||
| 2016 | 12.8% | -13.33pp | ||
| 2015 | 26.1% | -1.12pp | ||
| 2014 | 27.2% | +0.62pp | ||
| 2013 | 26.6% | -0.52pp | ||
| 2012 | 27.1% | +1.14pp | ||
| 2011 | 26.0% | -0.69pp | ||
| 2010 | 26.7% | +1.73pp | ||
| 2009 | 24.9% | +3.39pp | ||
| 2008 | 21.5% | -0.80pp | ||
| 2007 | 22.3% | +1.41pp | ||
| 2006 | 20.9% | +2.44pp | ||
| 2005 | 18.5% | -35.11pp | ||
| 2004 | 53.6% | — |
- 202525.4%-1.30pp
- 202426.7%+0.48pp
- 202326.2%+2.32pp
- 202223.9%+1.26pp
- 202122.6%+5.22pp
- 202017.4%-3.06pp
- 201920.5%+1.73pp
- 201818.7%+1.83pp
- 201716.9%+4.13pp
- 201612.8%-13.33pp
- 201526.1%-1.12pp
- 201427.2%+0.62pp
- 201326.6%-0.52pp
- 201227.1%+1.14pp
- 201126.0%-0.69pp
- 201026.7%+1.73pp
- 200924.9%+3.39pp
- 200821.5%-0.80pp
- 200722.3%+1.41pp
- 200620.9%+2.44pp
- 200518.5%-35.11pp
- 200453.6%—
Gross Margin values are taken from Chipotle Mexican Grill's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About Gross Margin at Chipotle Mexican Grill (CMG)
According to Chipotle Mexican Grill's latest reported financial statements, the company's latest reported gross margin is 36.1%. Gross margin is gross profit divided by revenue, expressed as a percentage. It shows how much of each sales dollar survives the direct cost of goods sold — before operating expenses, interest, and taxes. A higher gross margin generally signals pricing power and production efficiency. Margins are most meaningful compared against sector peers and a company's own history.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
The 2025 reading of Chipotle Mexican Grill (CMG) gross margin is 25.38% – contracted 1.3 percentage points year-over-year.
The record annual gross margin stands at 53.60%, reached in 2004; the historical low of 12.76% was recorded in 2016.
Chipotle Mexican Grill Gross Margin by Year
Chipotle Mexican Grill Gross Margin 2025: 25.4%
2025's gross margin for Chipotle Mexican Grill came in at 25.38%, contracted 1.3 percentage points from 2024.
Chipotle Mexican Grill Gross Margin 2024: 26.7%
Chipotle Mexican Grill posted gross margin of 26.67% in 2024, expanded 0.5 percentage points from 2023.
Chipotle Mexican Grill Gross Margin 2023: 26.2%
In 2023, Chipotle Mexican Grill reported gross margin of 26.20%, expanded 2.3 percentage points from 2022.
Chipotle Mexican Grill Gross Margin 2022: 23.9%
Chipotle Mexican Grill gross margin in 2022 was 23.88%, expanded 1.3 percentage points from 2021.
Chipotle Mexican Grill Gross Margin 2021: 22.6%
Chipotle Mexican Grill gross margin in 2021 was 22.62%.
See more financial history for Chipotle Mexican Grill (CMG).
Sector peers by Gross Margin
Consumer Cyclical peers of Chipotle Mexican Grill (CMG), ranked by their latest gross margin
| 100.0% | |
| 57.4% | |
| 56.0% | |
| 50.6% | |
| 39.8% | |
| 33.1% | |
| 31.4% | |
| 19.1% |
- 100.0%
- 57.4%
- 56.0%
- 50.6%
- 39.8%
- 33.1%
- 31.4%
- 19.1%
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