Chipotle Mexican Grill Inc (CMG)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 3,564,030 | 2,972,920 | 2,459,970 | 1,781,550 | 1,644,430 |
| Revenue | US$ in thousands | 9,871,650 | 8,634,650 | 7,547,060 | 5,984,630 | 5,586,370 |
| Gross profit margin | 36.10% | 34.43% | 32.60% | 29.77% | 29.44% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $3,564,030K ÷ $9,871,650K
= 36.10%
Chipotle Mexican Grill's gross profit margin has shown a consistent upward trend over the past five years, reflecting the company's ability to effectively manage its cost of goods sold and generate revenue. The gross profit margin increased from 66.92% in 2019 to 70.50% in 2023, indicating an improvement in the company's profitability and efficiency in converting sales into gross profit. This trend suggests that Chipotle has been able to maintain strong pricing power, control costs, or enhance operational efficiency. Overall, the increasing gross profit margin demonstrates Chipotle's strong performance in managing its direct costs and maximizing its profitability over the years.
Peer comparison
Dec 31, 2023