Company Valuation: Chipotle Mexican Grill, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 49,188 38,463 62,765 82,227 48,924 47,251 - -
Change - -21.8% 63.18% 31.01% -40.5% -3.42% - -
Enterprise Value (EV) 1 48,372 38,079 62,204 81,479 48,574 52,470 52,437 52,202
Change - -21.28% 63.36% 30.99% -40.38% 8.02% -0.06% -0.45%
P/E 76.3x 43.3x 51.6x 54.3x 32.5x 33.2x 27.4x 23.6x
PBR 21.7x 16.4x 20.7x 22.7x 17.5x 19x 16.1x 13.4x
PEG - 1.1x 1.3x 2.2x 12.03x -27.33x 1.3x 1.5x
Capitalization / Revenue 6.52x 4.45x 6.36x 7.27x 4.1x 3.63x 3.28x 2.97x
EV / Revenue 6.41x 4.41x 6.3x 7.2x 4.07x 4.03x 3.64x 3.29x
EV / EBITDA 41.9x 26x 32.8x 36x 20.8x 22.8x 19.8x 17.6x
EV / EBIT 53.8x 32.3x 39.5x 42.2x 24.6x 27.6x 23.5x 20.9x
EV / FCF 57.6x 45.1x 50.9x 53.9x 33.6x 32.6x 31.8x 29x
FCF Yield 1.74% 2.22% 1.97% 1.86% 2.98% 3.07% 3.15% 3.45%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 0.458 0.6408 0.8868 1.11 1.14 1.126 1.362 1.583
Distribution rate - - - - - - - -
Net sales 1 7,547 8,635 9,872 11,314 11,926 13,022 14,421 15,884
EBITDA 1 1,153 1,464 1,896 2,265 2,333 2,299 2,653 2,961
EBIT 1 898.7 1,177 1,577 1,930 1,972 1,903 2,228 2,501
Net income 1 653 899.1 1,229 1,534 1,536 1,442 1,702 1,934
Net Debt 1 -815.4 -384 -560.6 -748.5 -350.5 5,219 5,187 4,951
Reference price 2 34.96 27.75 45.74 60.30 37.00 37.34 37.34 37.34
Nbr of stocks (in thousands) 1,406,770 1,386,056 1,372,233 1,363,639 1,322,278 1,265,418 - -
Announcement Date 2/8/22 2/7/23 2/6/24 2/4/25 2/3/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
33.16x4.03x22.82x-.--% 47.25B
20.83x8.09x14.63x2.81% 189B
19.1x5.83x17.1x1.94% 42.14B
17.92x4.03x12.53x3.25% 27.64B
16.01x1.16x7.61x2.52% 16.16B
18.12x3.12x14.54x2.31% 11.4B
29.83x2.47x - 0.81% 6.77B
18.25x2.04x8.33x4.21% 5.31B
25.69x5.43x15.61x1.13% 3.06B
Average 22.10x 4.02x 14.14x 2.11% 38.73B
Weighted average by Cap. 21.92x 6.24x 15.47x 2.3%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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