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Chipotle Mexican Grill, Inc.

CMG

Filing: SEC 10-Q
Period: Quarter ended 2026-03-31
Basis: Editorial filing; Read original SEC 10-Q ↗

Sankey diagram of Chipotle Mexican Grill, Inc.. A complete text table follows the diagram.

97% of Chipotle's Growth Came From Restaurants Too New to Count

Comparable sales barely moved; the chain's expansion engine, led by new Chipotlanes, supplied almost all of the quarterly revenue increase

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Source & review

Read original SEC 10-Q ↗

SEC accession: 0001058090-26-000028
Filed: Date not recorded
Reviewed: 2026-07-26
Status: Individual filing review complete

How to read these figures

The Sankey uses the filing's reported revenue-growth reconciliation. Closure impact is shown as a terminal outflow from pre-closure potential revenue so every link remains nonnegative. Values are rounded exactly as presented in management's table; operating-cost context is confined to annotations.

Labels and narrative explain the filing. A category marked “arithmetic bridge” or “residual” is calculated from reported totals, rather than a separately reported line.

New restaurants added $206M of revenue, versus only $14M from comparable stores, making expansion the source of nearly all net growth.
Transactions rose 0.6%, but average check fell 0.1% as a 0.9% menu-price increase was offset by a 1.0% unfavorable mix shift.
Digital orders still represented 38.6% of food and beverage revenue, making throughput depend on both the make line and digital pickup flow.
Chipotle opened 49 company restaurants, 42 with a Chipotlane, and expects roughly 350 to 370 openings for the full year.
Average restaurant sales fell 2.9%, causing labor, occupancy and other operating costs to deleverage even as the total unit count grew.
Food inflation and labor pressure helped push operating income down 17% to $397M despite the 7.4% top-line increase.

View accessible tables

Financial categories · Quarter ended 2026-03-31 · Millions of USD
Category	Stage	Value	Notes
Prior-year quarterly revenue	1	$2.9B	The existing sales base
Comparable-restaurant growth	1	$14M	Only 0.5% same-store growth
Restaurants opened during 2025	1	$192M	New units still outside the comparable base
Restaurants opened during 2026	1	$14.1M	49 company-owned openings in the quarter
Other change	1	$1.9M	Other reported revenue movement
Revenue before closure impact	2	$3.1B	Existing base plus new-store and comparable growth
Current quarterly revenue	3	$3.1B	Up 7.4% year over year
Revenue lost to closures	3	$9.1M	Two permanent closures during the quarter

Financial flows · Millions of USD
From	To	Value
Prior-year quarterly revenue	Revenue before closure impact	$2.9B
Comparable-restaurant growth	Revenue before closure impact	$14M
Restaurants opened during 2025	Revenue before closure impact	$192M
Restaurants opened during 2026	Revenue before closure impact	$14.1M
Other change	Revenue before closure impact	$1.9M
Revenue before closure impact	Current quarterly revenue	$3.1B
Revenue before closure impact	Revenue lost to closures	$9.1M