Chipotle Mexican Grill (Chipotle Mexican Grill) Total Inventories

: $39 Mil (As of Dec. 2023)

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Chipotle Mexican Grill's total inventories for the quarter that ended in Dec. 2023 was $39 Mil. Chipotle Mexican Grill's average total inventories from the quarter that ended in Sep. 2023 to the quarter that ended in Dec. 2023 was $40 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. Chipotle Mexican Grill's Net-Net Working Capital per share for the quarter that ended in Dec. 2023 was $-130.55.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Chipotle Mexican Grill's Days Inventory for the three months ended in Dec. 2023 was 1.93.

Inventory Turnover measures how fast the company turns over its inventory within a year. Chipotle Mexican Grill's Inventory Turnover for the quarter that ended in Dec. 2023 was 47.25.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. Chipotle Mexican Grill's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.02.

Chipotle Mexican Grill Total Inventories Historical Data

The historical data trend for Chipotle Mexican Grill's Total Inventories can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Chipotle Mexican Grill Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Total Inventories

26.10

26.45

32.83

35.67

39.31

Chipotle Mexican Grill Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Total Inventories																35.67	34.60	36.00	40.18	39.31

Chipotle Mexican Grill Total Inventories Calculation

Total Inventories includes the raw materials, work-in-process goods and completely finished goods of a company. It is a portion of a company's current assets.

Chipotle Mexican Grill (NYSE:CMG) Total Inventories Explanation

Inventory control is an important part of business operation. If a company does not have enough inventory, it may not be able to meet customers' required delivery time. If it has too much inventory, the cost of holding the inventory can be high.

1. In Ben Graham's calculation of Net-Net Working Capital (NNWC), inventory is only considered worth half of its book value.

Chipotle Mexican Grill's Net-Net Working Capital Per Share for the quarter that ended in Dec. 2023 is

	Net-Net Working Capital Per Share (Q: Dec. 2023 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(1295.447	+	0.75 * 115.535	+	0.5 * 39.309	-	4982.155
-	0	-	0)	/	27.426
=	-130.55

2. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

Chipotle Mexican Grill's Days Inventory for the three months ended in Dec. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Dec. 2023 )	/	Cost of Goods Sold (Q: Dec. 2023 )	*	Days in Period
	=	39.743	/	1878.016	*	365 / 4
	=	1.93

3. Inventory Turnover measures how fast the company turns over its inventory within a year.

Chipotle Mexican Grill's Inventory Turnover for the quarter that ended in Dec. 2023 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Dec. 2023 )	/	Average Total Inventories (Q: Dec. 2023 )
	=	1878.016	/	39.743
	=	47.25

4. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

Chipotle Mexican Grill's Inventory to Revenue for the quarter that ended in Dec. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	39.743	/	2516.32
	=	0.02

Be Aware

Manufacturers with durable competitive advantages have the advantage that the products they sell do not change, and therefore will never become obsolete. Buffett likes this advantage.

When identifying manufacturers with durable competitive advantage, look for inventory and net earnings that rise correspondingly. This indicates that the company is finding profitable ways to increase sales which called for an increase in inventory.

Manufacturers with inventories that spike up and down are indicative of competitive industries subject to boom and bust.

Chipotle Mexican Grill Total Inventories Related Terms

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Chipotle Mexican Grill (Chipotle Mexican Grill) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Restaurants » Chipotle Mexican Grill Inc (NYSE:CMG) » Definitions » Total Inventories

Comparable Companies

Traded in Other Exchanges

CMG:Mexico C9F:Germany C1MG34:Brazil

Address

610 Newport Center Drive, Suite 1100, Newport Beach, CA, USA, 92660

Website

https://www.chipotle.com

Chipotle Mexican Grill is the largest fast-casual chain restaurant in the United States, with systemwide sales of $8.6 billion in 2022. The Mexican concept is predominately company-owned (it recently inked a development agreement with Alshaya Group in the Middle East), with a footprint of nearly 3,200 stores at the end of 2022, heavily indexed to the United States, although the firm maintains a small presence in Canada, the U.K., France, and Germany. Chipotle sells burritos, burrito bowls, tacos, quesadillas, and beverages, with a selling proposition built around competitive prices, high-quality food sourcing, speed of service, and convenience. The company generates its revenue entirely from restaurant sales and delivery fees.

Executives

Brian R Niccol	director, officer: Chairman, CEO	1 GLEN BELL WAY, IRVINE CA 92618
Gregg L Engles	director	1225 SEVENTEENTH STREET, SUITE 1000, DENVER CO 80202
Scott Boatwright	officer: Chief Restaurant Officer	1401 WYNKOOP STREET, SUITE 500, DENVER CO 80202
Robin S Hickenlooper	director	12300 LIBERTY BOULEVARD, ENGLEWOOD CO 80112
Laurie Schalow	officer: Chief Corp Affairs, Food Sft	610 NEWPORT CENTER DRIVE, SUITE 1300, NEWPORT BEACH CA 92660
Curtis E Garner	officer: Chief Technology Officer	C/O AEROHIVE NETWORKS, INC., 330 GIBRALTAR DRIVE, SUNNYVALE CA 94089
Christopher W Brandt	officer: Chief Marketing Officer	2202 NORTH WESTSHORE BLVD, TAMPA FL 33607
Patricia Filikrushel	director	DOLLAR GENERAL CORPORATION, 100 MISSION RIDGE, GOODLETTSVILLE TN 37072
Laura Fuentes	director	7930 JONES BRANCH DRIVE, MCLEAN VA 22102
Albert S Baldocchi	director	1601 HIGH STREET, BOULDER CO 80304
Marissa Andrada	officer: Chief D&I and People Officer	C/O KATE SPADE & COMPANY 2 PARK AVENUE, NEW YORK NY 10016
Roger E Theodoredis	officer: Chief Legal Officer & GC	1225 SEVENTEENTH STREET, SUITE 1000, DENVER CO 80202
Pershing Square Capital Management, L.p.	director	787 11TH AVENUE, 9TH FLOOR, NEW YORK NY 10019
Jack Hartung	officer: CFO & Chief Development Ofcr	1543 WAZEE STREET, SUITE 200, DENVER CO 80202
Scott Harlan Maw	director	1411 E. MISSION AVENUE, SPOKANE WA 99202