GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Restaurants » Chipotle Mexican Grill Inc (NYSE:CMG) » Definitions » Piotroski F-Score

Chipotle Mexican Grill (NYSE:CMG) Piotroski F-Score

: 9 (As of Today)
View and export this data going back to 2006. Start your Free Trial

Good Sign:

Piotroski F-Score is 9, indicates a very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Chipotle Mexican Grill has an F-score of 9. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Chipotle Mexican Grill's Piotroski F-Score or its related term are showing as below:

CMG' s Piotroski F-Score Range Over the Past 10 Years
Min: 5   Med: 7   Max: 9
Current: 9

During the past 13 years, the highest Piotroski F-Score of Chipotle Mexican Grill was 9. The lowest was 5. And the median was 7.


Chipotle Mexican Grill Piotroski F-Score Historical Data

The historical data trend for Chipotle Mexican Grill's Piotroski F-Score 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
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.00 5.00 8.00 7.00 9.00

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
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.00 8.00 8.00 9.00 9.00

Competitive Comparison

For the Restaurants subindustry, Chipotle Mexican Grill's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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 Piotroski F-Score Distribution

For the Restaurants industry and Consumer Cyclical sector, Chipotle Mexican Grill's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Chipotle Mexican Grill's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* 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.

This Year (Dec23) TTM:Last Year (Dec22) TTM:
Net Income was 291.644 + 341.79 + 313.217 + 282.086 = USD1,229 Mil.
Cash Flow from Operations was 455.036 + 582.51 + 480.472 + 265.459 = USD1,783 Mil.
Revenue was 2368.58 + 2514.801 + 2471.948 + 2516.32 = USD9,872 Mil.
Gross Profit was 607.09 + 690.855 + 649.843 + 638.304 = USD2,586 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(6927.504 + 7053.372 + 7552.435 + 7911.493 + 8044.362) / 5 = USD7497.8332 Mil.
Total Assets at the begining of this year (Dec22) was USD6,928 Mil.
Long-Term Debt & Capital Lease Obligation was USD3,804 Mil.
Total Current Assets was USD1,621 Mil.
Total Current Liabilities was USD1,031 Mil.
Net Income was 158.294 + 259.942 + 257.138 + 223.727 = USD899 Mil.

Revenue was 2020.539 + 2213.339 + 2220.175 + 2180.599 = USD8,635 Mil.
Gross Profit was 418.946 + 558.085 + 562.546 + 522.542 = USD2,062 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(6652.958 + 6467.257 + 6545.336 + 6817.437 + 6927.504) / 5 = USD6682.0984 Mil.
Total Assets at the begining of last year (Dec21) was USD6,653 Mil.
Long-Term Debt & Capital Lease Obligation was USD3,495 Mil.
Total Current Assets was USD1,176 Mil.
Total Current Liabilities was USD922 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Chipotle Mexican Grill's current Net Income (TTM) was 1,229. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Chipotle Mexican Grill's current Cash Flow from Operations (TTM) was 1,783. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Dec22)
=1228.737/6927.504
=0.17737081

ROA (Last Year)=Net Income/Total Assets (Dec21)
=899.101/6652.958
=0.13514304

Chipotle Mexican Grill's return on assets of this year was 0.17737081. Chipotle Mexican Grill's return on assets of last year was 0.13514304. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Chipotle Mexican Grill's current Net Income (TTM) was 1,229. Chipotle Mexican Grill's current Cash Flow from Operations (TTM) was 1,783. ==> 1,783 > 1,229 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=3803.551/7497.8332
=0.50728669

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=3495.162/6682.0984
=0.52306353

Chipotle Mexican Grill's gearing of this year was 0.50728669. Chipotle Mexican Grill's gearing of last year was 0.52306353. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Dec23)=Total Current Assets/Total Current Liabilities
=1620.713/1030.625
=1.57255355

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=1175.837/921.88
=1.27547729

Chipotle Mexican Grill's current ratio of this year was 1.57255355. Chipotle Mexican Grill's current ratio of last year was 1.27547729. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Chipotle Mexican Grill's number of shares in issue this year was 27.623. Chipotle Mexican Grill's number of shares in issue last year was 27.9. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=2586.092/9871.649
=0.26197163

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=2062.119/8634.652
=0.23881901

Chipotle Mexican Grill's gross margin of this year was 0.26197163. Chipotle Mexican Grill's gross margin of last year was 0.23881901. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Dec22)
=9871.649/6927.504
=1.42499362

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=8634.652/6652.958
=1.2978666

Chipotle Mexican Grill's asset turnover of this year was 1.42499362. Chipotle Mexican Grill's asset turnover of last year was 1.2978666. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+1+1+1+1+1+1
=9

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Chipotle Mexican Grill has an F-score of 9. It is a good or high score, which usually indicates a very healthy situation.

Chipotle Mexican Grill  (NYSE:CMG) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Chipotle Mexican Grill Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Chipotle Mexican Grill's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Chipotle Mexican Grill (NYSE:CMG) Business Description

Traded in Other Exchanges
Address
610 Newport Center Drive, Suite 1100, Newport Beach, CA, USA, 92660
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