Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Chipotle Mexican Grill's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2022 was 23.16%.
The historical rank and industry rank for Chipotle Mexican Grill's ROC (Joel Greenblatt) % or its related term are showing as below:
CMG'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 4.64 Med: 22.41 Max: 69.34
Current: 23.38
During the past 13 years, Chipotle Mexican Grill's highest ROC (Joel Greenblatt) % was 69.34%. The lowest was 4.64%. And the median was 22.41%.
CMG's ROC (Joel Greenblatt) % is ranked better than 80.12% of 347
companies
in the Restaurants industry
Industry Median: 4.43
vs CMG: 23.38
Chipotle Mexican Grill's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -3.60% per year.
Chipotle Mexican Grill ROC (Joel Greenblatt) % Historical Data
The historical data trend for Chipotle Mexican Grill's ROC (Joel Greenblatt) % 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
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
Dec22
ROC (Joel Greenblatt) %
23.92
17.48
7.71
17.84
23.30
Chipotle Mexican Grill Quarterly Data
Mar18
Jun18
Sep18
Dec18
Mar19
Jun19
Sep19
Dec19
Mar20
Jun20
Sep20
Dec20
Mar21
Jun21
Sep21
Dec21
Mar22
Jun22
Sep22
Dec22
ROC (Joel Greenblatt) %
13.44
15.86
27.52
26.86
23.16
Competitive Comparison
For the Restaurants subindustry, Chipotle Mexican Grill's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Chipotle Mexican Grill ROC (Joel Greenblatt) % Distribution
For the Restaurants industry and Consumer Cyclical sector, Chipotle Mexican Grill's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Chipotle Mexican Grill's ROC (Joel Greenblatt) % falls in comparison to its industry or sector. The grey bar indicates the ROC (Joel Greenblatt) %'s extreme value range as defined by GuruFocus.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Dec. 2022) EBIT data.
* 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.
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
Chipotle Mexican Grill ROC (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Chipotle Mexican Grill's ROC (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Chipotle Mexican Grill (NYSE:CMG) Business Description
Chipotle Mexican Grill is the largest fast-casual chain restaurant in the United States, with systemwide sales of $7.5 billion in 2021. The Mexican concept is entirely company-owned, with a footprint of more than 3,000 stores, heavily indexed to the United States (though 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.
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