Market Cap : 36.54 B | Enterprise Value : 39.25 B | PE Ratio : 54.35 | PB Ratio : 17.13 |
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Good Sign:
Piotroski F-Score is 8, indicating 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:
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.
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.
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.
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 (Mar22) TTM: | Last Year (Mar21) TTM: |
Net Income was 187.974 + 204.434 + 133.475 + 158.294 = $684 Mil. Cash Flow from Operations was 256.885 + 280.803 + 438.42 + 282.902 = $1,259 Mil. Revenue was 1892.538 + 1952.315 + 1960.633 + 2020.539 = $7,826 Mil. Gross Profit was 462.882 + 459.353 + 396.018 + 418.946 = $1,737 Mil. Average Total Assets from the begining of this year (Mar21) to the end of this year (Mar22) was (6149.059 + 6320.454 + 6627.567 + 6652.958 + 6467.257) / 5 = $6443.459 Mil. Total Assets at the begining of this year (Mar21) was $6,149 Mil. Long-Term Debt & Capital Lease Obligation was $3,331 Mil. Total Current Assets was $1,096 Mil. Total Current Liabilities was $834 Mil. |
Net Income was 8.175 + 80.244 + 190.959 + 127.101 = $406 Mil. Revenue was 1364.738 + 1601.414 + 1607.71 + 1741.575 = $6,315 Mil. Gross Profit was 166.762 + 312.225 + 313.227 + 388.756 = $1,181 Mil. Average Total Assets from the begining of last year (Mar20) to the end of last year (Mar21) was (5206.488 + 5370.129 + 5631.64 + 5982.896 + 6149.059) / 5 = $5668.0424 Mil. Total Assets at the begining of last year (Mar20) was $5,206 Mil. Long-Term Debt & Capital Lease Obligation was $3,040 Mil. Total Current Assets was $1,457 Mil. Total Current Liabilities was $834 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 684.
==> 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 1,259.
==> 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 (Mar21) |
= | 684.177 | / | 6149.059 | |
= | 0.11126532 |
ROA (Last Year) | = | Net Income | / | Total Assets (Mar20) |
= | 406.479 | / | 5206.488 | |
= | 0.07807163 |
Chipotle Mexican Grill's return on assets of this year was 0.11126532. Chipotle Mexican Grill's return on assets of last year was 0.07807163.
==> 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 684. Chipotle Mexican Grill's current Cash Flow from Operations (TTM) was 1,259.
==> 1,259 > 684 ==> 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: Mar22) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Mar21 to Mar22 |
= | 3331.319 | / | 6443.459 | |
= | 0.51700787 |
Gearing (Last Year: Mar21) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Mar20 to Mar21 |
= | 3040.176 | / | 5668.0424 | |
= | 0.53637143 |
Chipotle Mexican Grill's gearing of this year was 0.51700787. Chipotle Mexican Grill's gearing of last year was 0.53637143.
==> 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: Mar22) | = | Total Current Assets | / | Total Current Liabilities |
= | 1096.493 | / | 833.738 | |
= | 1.31515296 |
Current Ratio (Last Year: Mar21) | = | Total Current Assets | / | Total Current Liabilities |
= | 1456.851 | / | 834.004 | |
= | 1.74681536 |
Chipotle Mexican Grill's current ratio of this year was 1.31515296. Chipotle Mexican Grill's current ratio of last year was 1.74681536.
==> 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 28.301. Chipotle Mexican Grill's number of shares in issue last year was 28.582.
==> 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 |
= | 1737.199 | / | 7826.025 | |
= | 0.22197719 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 1180.97 | / | 6315.437 | |
= | 0.18699735 |
Chipotle Mexican Grill's gross margin of this year was 0.22197719. Chipotle Mexican Grill's gross margin of last year was 0.18699735.
==> 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 (Mar21) |
= | 7826.025 | / | 6149.059 | |
= | 1.27271913 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Mar20) |
= | 6315.437 | / | 5206.488 | |
= | 1.21299367 |
Chipotle Mexican Grill's asset turnover of this year was 1.27271913. Chipotle Mexican Grill's asset turnover of last year was 1.21299367.
==> 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.
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.
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.
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 |
Niccol Brian R | director, officer: Chairman, CEO | 1 GLEN BELL WAY IRVINE CA 92618 |
Baldocchi Albert S | director | 1601 HIGH STREET BOULDER CO 80304 |
Boatwright Scott | officer: Chief Restaurant Officer | 1401 WYNKOOP STREET SUITE 500 DENVER CO 80202 |
Pringle Robin S | director | 12300 LIBERTY BOULEVARD ENGLEWOOD CO 80112 |
Maw Scott Harlan | director | 1411 E. MISSION AVENUE SPOKANE WA 99202 |
Paull Matthew H | director | MCDONALDS CORP 2915 JORIE BLVD OAK BROOK IL 60523 |
Flanzraich Neil | director | 4400 BISCAYNE BLVD MIAMI FL 33137 |
Cappuccio Paul T | director | TIME WARNER INC. ONE TIME WARNER CENTER NEW YORK NY 10019 |
Filikrushel Patricia | director | DOLLAR GENERAL CORPORATION 100 MISSION RIDGE GOODLETTSVILLE TN 37072 |
Namvar Ali | director | C/O PERSHING SQUARE CAPITAL MANAGEMENT 888 SEVENTH AVENUE, 42ND FLOOR NEW YORK NY 10019 |
Garner Curtis E | officer: Chief Technology Officer | C/O AEROHIVE NETWORKS, INC. 330 GIBRALTAR DRIVE SUNNYVALE CA 94089 |
Andrada Marissa | officer: Chief People Officer | C/O KATE SPADE & COMPANY 2 PARK AVENUE NEW YORK NY 10016 |
Schalow Laurie | officer: Chief Corp Reputation Officer | 610 NEWPORT CENTER DRIVE SUITE 1300 NEWPORT BEACH CA 92660 |
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