Chipotle Mexican Grill (CMG) 10-K Summary — Year Ended Dec 31, 2024

Chipotle Mexican Grill operates a chain of fast-casual restaurants. The filing reports annual revenue, operating income, net income, and operating cash flow, with revenue showing a multi-year upward trend.

Key takeaway

Year ended Dec 31, 2024 · FY2025 10-K

Financial snapshot

Selected annual figures reported with the filing, shown separately from the narrative summary.

Annual revenue

$11.3B

Revenue reported for the fiscal year.

Operating income

$1.9B

Income from operations reported for the year.

Net income

$1.5B

Net income reported for the year.

Operating cash flow

$2.1B

Cash generated by operating activities.

Annual revenue trend

Reported annual revenue and its change from the preceding fiscal year.

Period ended	Revenue	Year-over-year change
Dec 31, 2021	$7.5B	n/a
Dec 31, 2022	$8.6B	+14.4%
Dec 31, 2023	$9.9B	+14.3%
Dec 31, 2024	$11.3B	+14.6%

Business overview

Chipotle Mexican Grill is a fast-casual restaurant company. Its business overview section describes the company's operations, risk factors, unresolved staff comments, and cybersecurity matters.

Financial performance

Revenue increased compared to the prior year, continuing a multi-year growth pattern. Operating income, net income, and operating cash flow were all reported at levels consistent with the company's scale.

Material risks

The filing includes a dedicated risk factors section covering various operational and market risks. Specific risks are not detailed in the provided context beyond the section heading.

Liquidity and capital

The company holds significant cash and investments and has undrawn borrowing capacity. Planned uses of cash include new restaurant construction, share repurchases, and existing restaurant maintenance.

What to watch

Monitor comparable restaurant sales trends, as they are cited as a key factor in maintaining positive cash flow.