Chipotle Mexican Grill Inc (CMG)

Operating profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	1,557,810	1,160,400	804,943	290,164	443,958
Revenue	US$ in thousands	9,871,650	8,634,650	7,547,060	5,984,630	5,586,370
Operating profit margin		15.78%	13.44%	10.67%	4.85%	7.95%

December 31, 2023 calculation

Operating profit margin = Operating income ÷ Revenue
= $1,557,810K ÷ $9,871,650K
= 15.78%

Chipotle Mexican Grill's operating profit margin has shown a positive trend over the past five years. From 2019 to 2020, there was a noticeable increase in the margin, followed by a significant improvement in 2021. The operating profit margin continued to strengthen in 2022 and 2023, reaching 16.17%, indicating the company's ability to effectively control its operating expenses and generate profit from its core business operations. This upward trajectory suggests improved operational efficiency and profitability for Chipotle Mexican Grill over the years.