Chipotle Mexican Grill, Inc. – Company Information

Chipotle Mexican Grill, Inc. is an American multinational company, based in Colorado, that owns and operates the “Chipotle Mexican Grill” chain of restaurants – which serve a focused menu of burritos, tacos, and burrito bowls.

As of January 2014, the company has 1,572 Chipotle restaurants in the United States, seven in Canada, six in England, two in France, and one in Germany.

The company also operates several “ShopHouse Southeast Asian Kitchen” restaurants, which serve Asian-inspired cuisine.

Chipotle’s vision is “to change the way people think about and eat fast food.”

The company has an approach called “Food With Integrity,” which is “to find the highest quality ingredients we can – ingredients that are grown or raised with respect for the environment, animals and people who grow or raise the food.”

It competes in a category of dining known as “fast-casual,” food service that is good quality (on par with full-service restaurants) and fast to order – one of the fastest growing segments of the restaurant industry.

The company was founded by Steve Ells in 1993. A few years later, in 1998, the company had 16 restaurants across Colorado and the McDonalds Corporation became a major investor. This helped Chipotle expand significantly.

McDonald’s fully divested itself from Chipotle in 2006 – the chain had over 500 locations at the time.

Chipotle Mexican Grill, Inc., is publicly listed on the New York Stock Exchange (NYSE) under the stock ticker symbol ‘CMG’.


Chipotle Mexican Grill logo

  • Chairman and Co-CEO: Steve Ells
  • Co-CEO: Montgomery  F. Moran
  • CFO: John R. Hartung
  • Type: Public
  • Industry: Restaurants/Dining
  • Listed on the New York Stock Exchange (NYSE)
  • NYSE stock ticker symbol: CMG
  • S&P 500 Component
  • Revenue: $3.214 billion USD (2013)
  • Net income: $327 million USD (2013)
  • Diluted earnings per share: $10.47 USD (2013)
  • Employees: 45,430 (2013)
  • Company head office: 1401 Wynkoop Street, Suite 500, Denver, CO 80202, USA
  • Investor relations email: [email protected]
  • Website:

Income Data (in $ thousands) 2013 2012
Revenue $3,214,591 $2,731,224
Total operating expenses $2,681,871 $2,275,359
Income from operations $532,720 $455,865
Interest and other income (expense), net $1,751 $1,820
Income before income taxes $534,471 $457,685
Provision for income taxes $(207,033) $(179,685)
Net income $327,438 $278,000
Comprehensive income $328,034 $278,827
Cash Flow Data (in $ thousands)
Net cash provided by operating activities $528,780 $419,963
Net cash used in investing activities $(428,315) $(355,499)
Net cash used in financing activities $(100,351) $(143,534)
Cash and cash equivalents at beginning of period $322,553 $401,243
Cash and cash equivalents at end of period $323,203 $322,553
Balance Sheet Data (in $ thousands)
Total assets $2,009,280 $1,668,667
Total liabilities $470,992 $422,741
Total shareholders’ equity $1,538,288 $1,245,926
Common Share Data (in $)
Earnings (loss) per Common Share – Basic $10.58 $8.82
Earnings (loss) per Common Share – Diluted $10.47 $8.75

Source: “Chipotle Mexican Grill, Inc. 2013 Annual Report”