Chipotle Mexican Grill Inc (CMG)

Gross profit margin

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Gross profit (ttm)	US$ in thousands	4,117,214	4,041,207	3,889,038	3,678,921	3,564,028	3,456,394	3,351,996	3,206,192	2,972,920	2,819,695	2,680,683	2,539,408	2,459,968	3,637,880	3,471,359	3,175,780	2,996,190	2,824,950	2,729,940	2,763,363
Revenue (ttm)	US$ in thousands	11,313,860	10,984,870	10,663,240	10,204,920	9,871,650	9,535,930	9,284,160	8,982,700	8,634,660	8,414,690	8,146,830	7,826,030	7,547,070	7,194,150	6,843,240	6,315,440	5,984,630	5,817,140	5,619,430	5,688,920
Gross profit margin		36.39%	36.79%	36.47%	36.05%	36.10%	36.25%	36.10%	35.69%	34.43%	33.51%	32.90%	32.45%	32.60%	50.57%	50.73%	50.29%	50.06%	48.56%	48.58%	48.57%

December 31, 2024 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $4,117,214K ÷ $11,313,860K
= 36.39%

Chipotle Mexican Grill Inc's gross profit margin has shown a generally stable trend from March 31, 2020, to December 31, 2021, hovering around the range of 48% to 50%. This indicates a healthy level of profitability on its sales during this period. However, there was a noticeable decline in the gross profit margin starting from March 31, 2022, when it dropped to 32.45%, and this decline continued until reaching the lowest point of 32.60% on December 31, 2021.

Since this decrease in gross profit margin, Chipotle Mexican Grill Inc started to experience a gradual recovery in profitability, with the margin improving to 36.39% by December 31, 2024. This recovery trend suggests that the company may have implemented strategies to enhance efficiency in its cost structure or pricing strategies, leading to improved profitability.

Overall, while there was a temporary dip in the gross profit margin for Chipotle Mexican Grill Inc, the subsequent recovery and stabilization indicate the company's ability to adapt and manage its costs effectively to maintain a healthy level of profitability in the long term.