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Chipotle Mexican Grill (NYSE:CMG) Asset Turnover

: 0.32 (As of Dec. 2023)
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Asset Turnover measures how quickly a company turns over its asset through sales. It is calculated as Revenue divided by Total Assets. Chipotle Mexican Grill's Revenue for the three months ended in Dec. 2023 was $2,516 Mil. Chipotle Mexican Grill's Total Assets for the quarter that ended in Dec. 2023 was $7,978 Mil. Therefore, Chipotle Mexican Grill's Asset Turnover for the quarter that ended in Dec. 2023 was 0.32.

Asset Turnover is linked to ROE % through Du Pont Formula. Chipotle Mexican Grill's annualized ROE % for the quarter that ended in Dec. 2023 was 37.94%. It is also linked to ROA % through Du Pont Formula. Chipotle Mexican Grill's annualized ROA % for the quarter that ended in Dec. 2023 was 14.14%.


Chipotle Mexican Grill Asset Turnover Historical Data

The historical data trend for Chipotle Mexican Grill's Asset Turnover 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
Asset Turnover
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.52 1.08 1.20 1.27 1.32

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
Asset Turnover 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 0.32 0.34 0.34 0.32 0.32

Competitive Comparison

For the Restaurants subindustry, Chipotle Mexican Grill's Asset Turnover, along with its competitors' market caps and Asset Turnover 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 Asset Turnover Distribution

For the Restaurants industry and Consumer Cyclical sector, Chipotle Mexican Grill's Asset Turnover distribution charts can be found below:

* The bar in red indicates where Chipotle Mexican Grill's Asset Turnover falls into.



Chipotle Mexican Grill Asset Turnover Calculation

Asset Turnover measures how quickly a company turns over its asset through sales.

Chipotle Mexican Grill's Asset Turnover for the fiscal year that ended in Dec. 2023 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (A: Dec. 2023 )/( (Total Assets (A: Dec. 2022 )+Total Assets (A: Dec. 2023 ))/ count )
=9871.649/( (6927.504+8044.362)/ 2 )
=9871.649/7485.933
=1.32

Chipotle Mexican Grill's Asset Turnover for the quarter that ended in Dec. 2023 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (Q: Dec. 2023 )/( (Total Assets (Q: Sep. 2023 )+Total Assets (Q: Dec. 2023 ))/ count )
=2516.32/( (7911.493+8044.362)/ 2 )
=2516.32/7977.9275
=0.32

* 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.

Companies with low profit margins tend to have high Asset Turnover, while those with high profit margins have low Asset Turnover. Companies in the retail industry tend to have a very high turnover ratio.


Chipotle Mexican Grill  (NYSE:CMG) Asset Turnover Explanation

Asset Turnover is linked to ROE % through Du Pont Formula.

Chipotle Mexican Grill's annulized ROE % for the quarter that ended in Dec. 2023 is

ROE %**(Q: Dec. 2023 )
=Net Income/Total Stockholders Equity
=1128.344/2974.2605
=(Net Income / Revenue)*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(1128.344 / 10065.28)*(10065.28 / 7977.9275)*(7977.9275/ 2974.2605)
=Net Margin %*Asset Turnover*Equity Multiplier
=11.21 %*1.2616*2.6823
=ROA %*Equity Multiplier
=14.14 %*2.6823
=37.94 %

Note: The Net Income data used here is four times the quarterly (Dec. 2023) net income data. The Revenue data used here is four times the quarterly (Dec. 2023) revenue 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 ROE % used above is for Du Pont Analysis only. It is different from the defined ROE % page on our website, as here it uses Net Income instead of Net Income attributable to Common Stockholders in the calculation.

It is also linked to ROA % through Du Pont Formula:

Chipotle Mexican Grill's annulized ROA % for the quarter that ended in Dec. 2023 is

ROA %(Q: Dec. 2023 )
=Net Income/Total Assets
=1128.344/7977.9275
=(Net Income / Revenue)*(Revenue / Total Assets)
=(1128.344 / 10065.28)*(10065.28 / 7977.9275)
=Net Margin %*Asset Turnover
=11.21 %*1.2616
=14.14 %

Note: The Net Income data used here is four times the quarterly (Dec. 2023) net income data. The Revenue data used here is four times the quarterly (Dec. 2023) revenue 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.


Be Aware

In the article Joining The Dark Side: Pirates, Spies and Short Sellers, James Montier reported that In their US sample covering the period 1968-2003, Cooper et al find that firms with low asset growth outperformed firms with high asset growth by an astounding 20% p.a. equally weighted. Even when controlling for market, size and style, low asset growth firms outperformed high asset growth firms by 13% p.a. Therefore a company with fast asset growth may underperform.

Therefore, it is a good sign if a company's Asset Turnover is consistent or even increases. If a company's asset grows faster than sales, its Asset Turnover will decline, which can be a warning sign.


Chipotle Mexican Grill Asset Turnover Related Terms

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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