Chipotle Mexican Grill Inc (CMG)

Return on assets (ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	1,228,740	899,101	652,984	355,766	350,158
Total assets	US$ in thousands	8,044,360	6,927,500	6,652,960	5,982,900	5,104,600
ROA		15.27%	12.98%	9.81%	5.95%	6.86%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $1,228,740K ÷ $8,044,360K
= 15.27%

Chipotle Mexican Grill's Return on Assets (ROA) has shown a consistent upward trend over the five-year period from 2019 to 2023, indicating improved efficiency in utilizing its assets to generate profits. The ROA increased from 6.86% in 2019 to 15.27% in 2023. This indicates that for every dollar of assets held by the company, it generated a net income of 15.27 cents in 2023, reflecting strong asset utilization efficiency. The company's ability to improve its ROA over the years suggests effective management of its assets and operations, leading to enhanced profitability. Overall, Chipotle's increasing ROA trend is a positive indication of the company's financial performance and asset management capabilities.