Question 1

What is Chipotle Mexican Grill's P/B ratio?

Accepted Answer

Chipotle Mexican Grill (CMG) P/B ratio is 17.4× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Chipotle Mexican Grill?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Chipotle Mexican Grill specifically, the relevant sector benchmark is the current sector median of 4.3×.

Question 5

Is Chipotle Mexican Grill's P/B ratio high or low?

Accepted Answer

Chipotle Mexican Grill's P/B ratio of 17.4× is below its own 5-year average of 19.8× and above the sector median of 4.3×. That places the current reading at the 20th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Chipotle Mexican Grill's historical P/B ratio range?

Accepted Answer

In the available daily series, Chipotle Mexican Grill (CMG) P/B ratio has ranged from a low of 2.9× in 2008 to a high of 28.2× in 2024. The 5-year average is 19.8× and the 5-year median is 20.3×.

Question 7

What was Chipotle Mexican Grill's P/B ratio in 2025?

Accepted Answer

Chipotle Mexican Grill (CMG) P/B ratio at the end of 2025 was 17.2×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does Chipotle Mexican Grill's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$48.7B	$2.83B	17.2×	-5.3×	Dec 31, 2025
2024	$82.1B	$3.66B	22.5×	+2.0×	Dec 31, 2024
2023	$62.8B	$3.06B	20.5×	+4.3×	Dec 31, 2023
2022	$38.4B	$2.37B	16.2×	-5.2×	Dec 31, 2022
2021	$49.2B	$2.3B	21.4×	+2.2×	Dec 31, 2021
2020	$38.8B	$2.02B	19.2×	+5.4×	Dec 31, 2020
2019	$23.2B	$1.68B	13.8×	+5.5×	Dec 31, 2019
2018	$12B	$1.44B	8.3×	+2.4×	Dec 31, 2018
2017	$8.07B	$1.36B	5.9×	-1.9×	Dec 31, 2017
2016	$10.9B	$1.4B	7.8×	+0.8×	Dec 31, 2016
2015	$14.9B	$2.13B	7.0×	-3.6×	Dec 31, 2015
2014	$21.2B	$2.01B	10.6×	-0.2×	Dec 31, 2014
2013	$16.5B	$1.54B	10.7×	+3.3×	Dec 31, 2013
2012	$9.23B	$1.25B	7.4×	-2.7×	Dec 31, 2012
2011	$10.6B	$1.04B	10.1×	+2.0×	Dec 31, 2011
2010	$6.6B	$811M	8.1×	+4.2×	Dec 31, 2010
2009	$2.77B	$703M	3.9×	+0.8×	Dec 31, 2009
2008	$1.98B	$623M	3.2×	-5.4×	Dec 31, 2008
2007	$4.82B	$562M	8.6×	+4.7×	Dec 31, 2007
2006	$1.85B	$474M	3.9×	—	Dec 31, 2006


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Norwegian Cruise Line (NCLH)	3.5×
V.F. (VFC)	3.5×
Lululemon Athletica (LULU)	3.1×
Carnival Corporation (CCL)	2.9×
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PDD Holdings (PDD)	2.3×
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D.R. Horton (DHI)	2.0×
Alibaba (BABA)	1.9×
Li Auto (LI)	1.8×
Amcor (AMCR)	1.7×
Toll Brothers (TOL)	1.6×
Lucid Group (LCID)	1.5×
Leggett & Platt (LEG)	1.3×
Weyco Group (WEYS)	1.2×
Ford Motor (F)	1.2×
LKQ (LKQ)	1.2×
General Motors (GM)	1.1×
Smurfit Westrock (SW)	1.1×
Lennar (LEN)	1.0×
KB Home (KBH)	0.8×
Mohawk Industries (MHK)	0.7×

P/B Ratio for Chipotle Mexican Grill (CMG) 2006-2026

P/B Ratio daily chart for Chipotle Mexican Grill (CMG)

Historical P/B Ratio for Chipotle Mexican Grill (CMG) from 2006 to 2025

About P/B Ratio at Chipotle Mexican Grill (CMG)

Chipotle Mexican Grill P/B Ratio by Year

Chipotle Mexican Grill P/B Ratio 2025: 17.2×

Chipotle Mexican Grill P/B Ratio 2024: 22.5×

Chipotle Mexican Grill P/B Ratio 2023: 20.5×

Chipotle Mexican Grill P/B Ratio 2022: 16.2×

Chipotle Mexican Grill P/B Ratio 2021: 21.4×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Chipotle Mexican Grill (CMG) Key Financials