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Chipotle Mexican Grill Piotroski F-Score

: 8 (As of Today)
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Good Sign:

Piotroski F-Score is 8, 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 8. 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: 8

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 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 9.00 7.00 6.00 5.00 8.00

Chipotle Mexican Grill Quarterly Data
Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
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 8.00 8.00 8.00 8.00 8.00

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 (Jun22) TTM:Last Year (Jun21) TTM:
Net Income was 204.434 + 133.475 + 158.294 + 259.942 = $756 Mil.
Cash Flow from Operations was 280.803 + 438.42 + 282.902 + 286.786 = $1,289 Mil.
Revenue was 1952.315 + 1960.633 + 2020.539 + 2213.339 = $8,147 Mil.
Gross Profit was 459.353 + 396.018 + 418.946 + 558.085 = $1,832 Mil.
Average Total Assets from the begining of this year (Jun21)
to the end of this year (Jun22) was
(6320.454 + 6627.567 + 6652.958 + 6467.257 + 6545.336) / 5 = $6522.7144 Mil.
Total Assets at the begining of this year (Jun21) was $6,320 Mil.
Long-Term Debt & Capital Lease Obligation was $3,393 Mil.
Total Current Assets was $1,046 Mil.
Total Current Liabilities was $832 Mil.
Net Income was 80.244 + 190.959 + 127.101 + 187.974 = $586 Mil.

Revenue was 1601.414 + 1607.71 + 1741.575 + 1892.538 = $6,843 Mil.
Gross Profit was 312.225 + 313.227 + 388.756 + 462.882 = $1,477 Mil.
Average Total Assets from the begining of last year (Jun20)
to the end of last year (Jun21) was
(5370.129 + 5631.64 + 5982.896 + 6149.059 + 6320.454) / 5 = $5890.8356 Mil.
Total Assets at the begining of last year (Jun20) was $5,370 Mil.
Long-Term Debt & Capital Lease Obligation was $3,135 Mil.
Total Current Assets was $1,448 Mil.
Total Current Liabilities was $835 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 756. ==> 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 1,289. ==> 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 (Jun21)
=756.145/6320.454
=0.1196346

ROA (Last Year)=Net Income/Total Assets (Jun20)
=586.278/5370.129
=0.10917391

Chipotle Mexican Grill's return on assets of this year was 0.1196346. Chipotle Mexican Grill's return on assets of last year was 0.10917391. ==> 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 756. Chipotle Mexican Grill's current Cash Flow from Operations (TTM) was 1,289. ==> 1,289 > 756 ==> 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: Jun22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun21 to Jun22
=3393.423/6522.7144
=0.52024706

Gearing (Last Year: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=3134.555/5890.8356
=0.53210702

Chipotle Mexican Grill's gearing of this year was 0.52024706. Chipotle Mexican Grill's gearing of last year was 0.53210702. ==> 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: Jun22)=Total Current Assets/Total Current Liabilities
=1046.299/831.623
=1.25814101

Current Ratio (Last Year: Jun21)=Total Current Assets/Total Current Liabilities
=1447.81/835.486
=1.73289558

Chipotle Mexican Grill's current ratio of this year was 1.25814101. Chipotle Mexican Grill's current ratio of last year was 1.73289558. ==> Last year's current ratio is higher ==> Score 0.

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 28.092. Chipotle Mexican Grill's number of shares in issue last year was 28.501. ==> 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
=1832.402/8146.826
=0.2249222

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1477.09/6843.237
=0.21584668

Chipotle Mexican Grill's gross margin of this year was 0.2249222. Chipotle Mexican Grill's gross margin of last year was 0.21584668. ==> 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 (Jun21)
=8146.826/6320.454
=1.28896215

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun20)
=6843.237/5370.129
=1.2743152

Chipotle Mexican Grill's asset turnover of this year was 1.28896215. Chipotle Mexican Grill's asset turnover of last year was 1.2743152. ==> 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+0+1+1+1
=8

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

Chipotle Mexican Grill has an F-score of 8. 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

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Chipotle Mexican Grill Business Description

Chipotle Mexican Grill logo
Address
610 Newport Center Drive, Suite 1400, Newport Beach, CA, USA, 92660
Chipotle Mexican Grill is the largest fast-casual chain restaurant in the United States, with systemwide sales of $7.5 billion over the last twelve months. The Mexican concept is entirely company-owned, with a footprint of nearly 3,000 stores at the end of 2021 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.
Executives
Maw Scott Harlan director 1411 E. MISSION AVENUE SPOKANE WA 99202
Namvar Ali director C/O PERSHING SQUARE CAPITAL MANAGEMENT 888 SEVENTH AVENUE, 42ND FLOOR NEW YORK NY 10019
Filikrushel Patricia director DOLLAR GENERAL CORPORATION 100 MISSION RIDGE GOODLETTSVILLE TN 37072
Hickenlooper Robin S director 12300 LIBERTY BOULEVARD ENGLEWOOD CO 80112
Engles Gregg L director 1225 SEVENTEENTH STREET SUITE 1000 DENVER CO 80202
Winston Mary A director 557 BROADWAY C/O SCHOLASTIC CORP NEW YORK NY 10012
Carey Matt director 11216 WAPLES MILL ROAD SUITE 100 FAIRFAX VA 22030
Gutierrez Mauricio director 211 CARNEGIE CENTER PRINCETON NJ 08540
Flanzraich Neil director 4400 BISCAYNE BLVD MIAMI FL 33137
Niccol Brian R director, officer: Chairman, CEO 1 GLEN BELL WAY IRVINE CA 92618
Brandt Christopher W officer: Chief Marketing Officer 2202 NORTH WESTSHORE BLVD TAMPA FL 33607
Schalow Laurie officer: Chief Corp Affairs, Food Sft 610 NEWPORT CENTER DRIVE SUITE 1300 NEWPORT BEACH CA 92660
Andrada Marissa officer: Chief D&I and People Officer C/O KATE SPADE & COMPANY 2 PARK AVENUE NEW YORK NY 10016
Garner Curtis E officer: Chief Technology Officer C/O AEROHIVE NETWORKS, INC. 330 GIBRALTAR DRIVE SUNNYVALE CA 94089
Boatwright Scott officer: Chief Restaurant Officer 1401 WYNKOOP STREET SUITE 500 DENVER CO 80202

Chipotle Mexican Grill Headlines

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