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Chipotle Mexican GrillLIM:CMG +22.46%77 Cyclically Adjusted PB Ratio is 22.22 as of Aug. 01, 2026, which is 4% above its 10-year median of 21.31. GuruFocus rates LIM:CMG with a GF Score™ of 77/100 and a GF Value™ of $47.07 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 255 Restaurants companies, Chipotle Mexican Grill ranks worse than 98.43% on this metric.
The historical rank and industry rank for Chipotle Mexican Grill's Cyclically Adjusted PB Ratio or its related term are showing as below:
LIM:CMG'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 5.87 Med: 21.31 Max: 40.64
Current: 20.56
During the past years, Chipotle Mexican Grill's highest Cyclically Adjusted PB Ratio was 40.64. The lowest was 5.87. And the median was 21.31.
LIM:CMG's Cyclically Adjusted PB Ratio is ranked worse than 98.43% of 255
companies
in the Restaurants industry
Industry Median: 1.8
vs LIM:CMG: 20.56
The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.
Chipotle Mexican Grill's adjusted book value per share data for the three months ended in Jun. 2026 was $1.735. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is $1.70 for the trailing ten years ended in Jun. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Chipotle Mexican Grill (LIM:CMG) Cyclically Adjusted PB Ratio Explanation
Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.
Chipotle Mexican Grill Cyclically Adjusted PB Ratio Related Terms
Chipotle Mexican Grill Cyclically Adjusted PB Ratio Historical Data
* Premium members only.
The historical data trend for Chipotle Mexican Grill's Cyclically Adjusted PB Ratio 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.
Chipotle Mexican Grill Cyclically Adjusted PB Ratio Chart
LIM:CMG vs YUM, DRI, YUMC: Cyclically Adjusted PB Ratio Comparison
For the Restaurants subindustry, Chipotle Mexican Grill's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio 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 Cyclically Adjusted PB Ratio vs Restaurants Industry
For the Restaurants industry and Consumer Cyclical sector, Chipotle Mexican Grill's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Chipotle Mexican Grill's Cyclically Adjusted PB Ratio falls into.
Chipotle Mexican Grill Cyclically Adjusted PB Ratio Calculation
Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.
The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.
* 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.
Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.
What does a Cyclically Adjusted PB Ratio of 22.22 mean?
Chipotle Mexican Grill (LIM:CMG) has a Cyclically Adjusted PB Ratio of 22.22 as of Aug. 01, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Chipotle Mexican Grill and its competitors. This is near median its historical median of 21.31. Over the past decade, Chipotle Mexican Grill's Cyclically Adjusted PB Ratio has ranged from 5.87 to 40.64. According to the industry distribution chart, Chipotle Mexican Grill ranks #251 out of 255 companies in the Restaurants industry, placing it in the top 98.4%.
Is Chipotle Mexican Grill's Cyclically Adjusted PB Ratio too high?
Chipotle Mexican Grill's current Cyclically Adjusted PB Ratio of 22.22 is near median its 10-year median of 21.31. Over the past 10 years, this metric has ranged from a low of 5.87 to a high of 40.64. The Restaurants industry median Cyclically Adjusted PB Ratio is 1.80. Chipotle Mexican Grill's value of 22.22 is 1134.4% above this industry median. Based on the distribution chart, Chipotle Mexican Grill ranks #251 out of 255 companies in the Restaurants industry, which is in the bottom quartile relative to peers. Overall, Chipotle Mexican Grill has a GF Score™ of 77/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Chipotle Mexican Grill's Cyclically Adjusted PB Ratio compare to YUM and DRI?
According to the Restaurants industry distribution chart, Chipotle Mexican Grill ranks #251 out of 255 companies for Cyclically Adjusted PB Ratio. This places Chipotle Mexican Grill in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.80. Chipotle Mexican Grill's value of 22.22 is 1134.4% above this benchmark. Historically, Chipotle Mexican Grill's own Cyclically Adjusted PB Ratio has ranged from 5.87 to 40.64 over the past decade. While the company's 10-year median is 21.31 vs. the industry median of 1.80, Chipotle Mexican Grill has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for a Restaurants company?
The median Cyclically Adjusted PB Ratio among Restaurants companies is 1.80, based on 255 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Chipotle Mexican Grill's current Cyclically Adjusted PB Ratio of 22.22 is 1134.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Chipotle Mexican Grill and its competitors. For the Restaurants industry, the median Cyclically Adjusted PB Ratio is 1.80 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Chipotle Mexican Grill's current Cyclically Adjusted PB Ratio is 22.22, which is near median its own 10-year median of 21.31. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Chipotle Mexican Grill stock overvalued right now?
Based on GuruFocus' analysis, Chipotle Mexican Grill (LIM:CMG) is currently considered Modestly Undervalued. The stock's GF Value™ is $47.07, compared to a current price of $37.78 — trading 19.7% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 22.22, which is near median its 10-year median of 21.31 and 1134.4% above the Restaurants industry median of 1.80. Chipotle Mexican Grill's overall GF Score™ is 77/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For Chipotle Mexican Grill (LIM:CMG), the current Cyclically Adjusted PB Ratio is 22.22 as of Aug. 01, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Chipotle Mexican Grill (LIM:CMG) Overvalued in 2026?
Based on GuruFocus' analysis, Chipotle Mexican Grill stock appears to be undervalued.
The current stock price of $37.78 is trading 19.7% below its estimated GF Value™ of $47.07.
GuruFocus considers Chipotle Mexican Grill to be Modestly Undervalued.
Key valuation signals for LIM:CMG:
Cyclically Adjusted PB Ratio: 22.22 (near median its 10-year median of 21.31)
GF Value™: $47.07 vs. price of $37.78 (19.7% below fair value)
Industry Position: 1134.4% above the Restaurants median (#251 of 255)
No single metric tells the full story. See the LIM:CMG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Chipotle is a leading fast-casual, Mexican-inspired restaurant chain, generating $11.9 billion in sales across 3,983 company-operated US locations, 104 international units primarily in Canada and Europe, and 14 licensed stores largely operated in the Middle East at the end of 2025. The firm's revenue is primarily driven by food and beverage sales at its company-owned restaurants, supplemented by delivery fees generated through its first-party digital channels. Chipotle emphasizes ingredients with no artificial flavors and utilizes an efficient, assembly line service model to serve mainly customizable burritos, bowls, salads, quesadillas, and tacos.
77GF Score
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