Chipotle Mexican Grill
Chipotle Mexican Grill returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 30, 2026 | — | 23.21% | — | 49.56% | 15.66% | — |
| FY 2026 Q1 | Mar 31, 2026 | — | 23.89% | — | 49.23% | 16.27% | — |
| FY 2025 Q4 | Dec 31, 2025 | 54.92% | 24.44% | — | 47.36% | 16.88% | 47.2 pp |
| FY 2025 Q3 | Sep 30, 2025 | — | 23.98% | — | 44.96% | 16.8% | — |
| FY 2025 Q2 | Jun 30, 2025 | — | 24.07% | — | 42.59% | 16.95% | — |
| FY 2025 Q1 | Mar 31, 2025 | — | 25.44% | — | 45.57% | 17.89% | — |
| FY 2024 Q4 | Dec 31, 2024 | 54.08% | 25.47% | 69.37% | 45.67% | 17.79% | 46.4 pp |
| FY 2024 Q3 | Sep 30, 2024 | — | 25.19% | — | 45.67% | 17.54% | — |
| FY 2024 Q2 | Jun 30, 2024 | — | 24.72% | — | 43.54% | 17.12% | — |
| FY 2024 Q1 | Mar 31, 2024 | — | 24.04% | — | 44.37% | 16.77% | — |
| FY 2023 Q4 | Dec 31, 2023 | 52.67% | 23.93% | 57.61% | 45.26% | 16.41% | 45 pp |
| FY 2023 Q3 | Sep 30, 2023 | — | 23.25% | — | 44.9% | 15.89% | — |
| FY 2023 Q2 | Jun 30, 2023 | — | 23.32% | — | 45.29% | 15.81% | — |
| FY 2023 Q1 | Mar 31, 2023 | — | 22.69% | — | 44.74% | 15.27% | — |
| FY 2022 Q4 | Dec 31, 2022 | 50.95% | 19.69% | 47.07% | 38.54% | 13.24% | 43.3 pp |
| FY 2022 Q3 | Sep 30, 2022 | — | 17.36% | — | 34.88% | 12.03% | — |
| FY 2022 Q2 | Jun 30, 2022 | — | 16.53% | — | 34.94% | 11.75% | — |
| FY 2022 Q1 | Mar 31, 2022 | — | 15.23% | — | 32.34% | 10.85% | — |
| FY 2021 Q4 | Dec 31, 2021 | 44.69% | 14.72% | 598.06% | 30.25% | 10.34% | 37 pp |
| FY 2021 Q3 | Sep 30, 2021 | — | 14.4% | — | 34.52% | 11.59% | — |
| FY 2021 Q2 | Jun 30, 2021 | — | 12.45% | — | 30.23% | 10.03% | — |
| FY 2021 Q1 | Mar 31, 2021 | — | 7.72% | — | 21.57% | 7.16% | — |
| FY 2020 Q4 | Dec 31, 2020 | 17.51% | 6.05% | -52.57% | 19.21% | 6.42% | 9.8 pp |
| FY 2020 Q3 | Sep 30, 2020 | — | 5.94% | — | 13.84% | 4.49% | — |
| FY 2020 Q2 | Jun 30, 2020 | — | 6.39% | — | 15.76% | 5.1% | — |
| FY 2020 Q1 | Mar 31, 2020 | — | 9.43% | — | 21.45% | 6.88% | — |
| FY 2019 Q4 | Dec 31, 2019 | — | 14.2% | — | 22.41% | 9.5% | — |
| FY 2019 Q3 | Sep 30, 2019 | — | 12.57% | — | 20.26% | 8.64% | — |
| FY 2019 Q2 | Jun 30, 2019 | — | 11.14% | — | 17.02% | 7.35% | — |
| FY 2019 Q1 | Mar 31, 2019 | — | 9.55% | — | 14.41% | 6.11% | — |
| FY 2018 Q4 | Dec 31, 2018 | — | 14.61% | — | 12.58% | 8.19% | — |
| FY 2018 Q3 | Sep 30, 2018 | — | 15.62% | — | 13.34% | 8.77% | — |
| FY 2018 Q2 | Jun 30, 2018 | — | 14.08% | — | 11.94% | 8.09% | — |
| FY 2018 Q1 | Mar 31, 2018 | — | 16.66% | — | 13.68% | 9.12% | — |
| FY 2017 Q4 | Dec 31, 2017 | — | 15.63% | — | 12.74% | 8.66% | — |
| FY 2017 Q3 | Sep 30, 2017 | — | 13.68% | — | 10.5% | 7.19% | — |
| FY 2017 Q2 | Jun 30, 2017 | — | 12.14% | — | 9.31% | 6.55% | — |
| FY 2017 Q1 | Mar 31, 2017 | — | 8.52% | — | 6.48% | 4.54% | — |
| FY 2016 Q4 | Dec 31, 2016 | — | 1.65% | — | 1.3% | 0.97% | — |
| FY 2016 Q3 | Sep 30, 2016 | — | 4.79% | — | 3.9% | 2.98% | — |
| FY 2016 Q2 | Jun 30, 2016 | — | 15.22% | — | 11.34% | 8.64% | — |
| FY 2016 Q1 | Mar 31, 2016 | — | 24.17% | — | 17.77% | 13.48% | — |
| FY 2015 Q4 | Dec 31, 2015 | — | 32.18% | — | 22.97% | 18.04% | — |
| FY 2015 Q3 | Sep 30, 2015 | — | 34.78% | — | 24.63% | 19.65% | — |
| FY 2015 Q2 | Jun 30, 2015 | — | 35.82% | — | 25.71% | 20.26% | — |
| FY 2015 Q1 | Mar 31, 2015 | — | 35.5% | — | 25.66% | 19.96% | — |
| FY 2014 Q4 | Dec 31, 2014 | — | 34.58% | — | 25.09% | 19.55% | — |
| FY 2014 Q3 | Sep 30, 2014 | — | 33.4% | — | 24.04% | 18.57% | — |
| FY 2014 Q2 | Jun 30, 2014 | — | 31.77% | — | 22.84% | 17.44% | — |
| FY 2014 Q1 | Mar 31, 2014 | — | 31.7% | — | 22.77% | 17.26% | — |
| FY 2013 Q4 | Dec 31, 2013 | — | 32.37% | — | 23.52% | 17.81% | — |
| FY 2013 Q3 | Sep 30, 2013 | — | 30.85% | — | 22.3% | 17.09% | — |
| FY 2013 Q2 | Jun 30, 2013 | — | 31.13% | — | 22.68% | 17.24% | — |
| FY 2013 Q1 | Mar 31, 2013 | — | 32.29% | — | 23.75% | 18.02% | — |
| FY 2012 Q4 | Dec 31, 2012 | — | 33.16% | — | 24.28% | 17.97% | — |
| FY 2012 Q3 | Sep 30, 2012 | — | 32.41% | — | 23.76% | 17.98% | — |
| FY 2012 Q2 | Jun 30, 2012 | — | 32.36% | — | 23.84% | 18.01% | — |
| FY 2012 Q1 | Mar 31, 2012 | — | 30.71% | — | 22.75% | 17.22% | — |
| FY 2011 Q4 | Dec 31, 2011 | — | 30.94% | — | 23.17% | 16.88% | — |
| FY 2011 Q3 | Sep 30, 2011 | — | 30.85% | — | 23.17% | 17.17% | — |
| FY 2011 Q2 | Jun 30, 2011 | — | 30.2% | — | 22.7% | 16.87% | — |
| FY 2011 Q1 | Mar 31, 2011 | — | — | — | — | — | — |
| FY 2010 Q4 | Dec 31, 2010 | — | — | — | — | — | — |
| FY 2010 Q3 | Sep 30, 2010 | — | — | — | — | — | — |
| FY 2010 Q2 | Jun 30, 2010 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · CMG, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.