8.45(0.97%) Volume: 253,366 7:08PM EST| Market Cap : 24.44 B | Enterprise Value : 26.43 B | P/E (TTM) : 80.14 | P/B : 15.05 |
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Chipotle Mexican Grill has a Z-score of 6.66, indicating it is in Safe Zones. This implies the Z-Score is strong.
The zones of discrimination were as such:
When Z-Score is less than 1.81, it is in Distress Zones.
When Z-Score is greater than 2.99, it is in Safe Zones.
When Z-Score is between 1.81 and 2.99, it is in Grey Zones.
During the past 13 years, Chipotle Mexican Grill's highest Altman Z-Score was 28.55. The lowest was 0.29. And the median was 15.42.
* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.
| Chipotle Mexican Grill Quarterly Data | ||||||||||||||||||||
| Dec14 | Mar15 | Jun15 | Sep15 | Dec15 | Mar16 | Jun16 | Sep16 | Dec16 | Mar17 | Jun17 | Sep17 | Dec17 | Mar18 | Jun18 | Sep18 | Dec18 | Mar19 | Jun19 | Sep19 | |
| Altman Z-Score |
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13.89 | 13.03 | 5.92 | 6.16 | 6.47 |
* The bar in red indicates where Chipotle Mexican Grill's Altman Z-Score falls into.
Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
Chipotle Mexican Grill's Altman Z-Score for today is calculated with this formula:
| Z | = | 1.2 | * | X1 | + | 1.4 | * | X2 | + | 3.3 | * | X3 | + | 0.6 | * | X4 | + | 1.0 | * | X5 |
| = | 1.2 | * | 0.065 | + | 1.4 | * | 0.577 | + | 3.3 | * | 0.0812 | + | 0.6 | * | 7.3706 | + | 1.0 | * | 1.0877 | |
| = | 6.66 |
* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency. GuruFocus does not calculate Altman Z-Score when X4 or X5 value is 0.
Trailing Twelve Months (TTM) ended in Sep. 2019:
Total Assets was $4,938 Mil.
Total Current Assets was $955 Mil.
Total Current Liabilities was $634 Mil.
Retained Earnings was $2,849 Mil.
Pre-Tax Income was 120.032 + 123.967 + 113.29 + 43.47 = $401 Mil.
Interest Expense was 0 + 0 + 0 + 0 = $0 Mil.
Revenue was 1403.697 + 1434.231 + 1308.217 + 1225.061 = $5,371 Mil.
Market Cap (Today) was $24,437 Mil.
Total Liabilities was $3,315 Mil.
| X1 | = | Working Capital | / | Total Assets |
| = | (Total Current Assets - Total Current Liabilities) | / | Total Assets | |
| = | (954.756 - 634.019) | / | 4937.937 | |
| = | 0.065 |
| X2 | = | Retained Earnings | / | Total Assets |
| = | 2849.032 | / | 4937.937 | |
| = | 0.577 |
| X3 | = | Earnings Before Interest and Taxes | / | Total Assets |
| = | (Pre-Tax Income + Interest Expense) | / | Total Assets | |
| = | (400.759 + 0) | / | 4937.937 | |
| = | 0.0812 |
| X4 | = | Market Value Equity | / | Book Value of Total Liabilities |
| = | Market Cap | / | Total Liabilities | |
| = | 24436.990 | / | 3315.49 | |
| = | 7.3706 |
| X5 | = | Revenue | / | Total Assets |
| = | 5371.206 | / | 4937.937 | |
| = | 1.0877 |
The zones of discrimination were as such:
Distress Zones - 1.81 < Grey Zones < 2.99 - Safe Zones
Chipotle Mexican Grill has a Z-score of 6.66 indicating it is in Safe Zones.
Study by Altman found that companies that are in Distress Zone have more than 80% of chances of bankruptcy in two years.
X1: The Working Capital/Total Assets (WC/TA) ratio is a measure of the net liquid assets of the firm relative to the total capitalization. Working capital is defined as the difference between current assets and current liabilities. Ordinarily, a firm experiencing consistent operating losses will have shrinking current assets in relation to total assets. Altman found this one proved to be the most valuable liquidity ratio comparing with the current ratio and the quick ratio. This is however the least significant of the five factors.
X2: Retained Earnings/Total Assets: the RE/TA ratio measures the leverage of a firm. Retained earnings is the account which reports the total amount of reinvested earnings and/or losses of a firm over its entire life. Those firms with high RE, relative to TA, have financed their assets through retention of profits and have not utilized as much debt.
X3, Earnings Before Interest and Taxes/Total Assets (EBIT/TA): This ratio is a measure of the true productivity of the firm's assets, independent of any tax or leverage factors. Since a firm's ultimate existence is based on the earning power of its assets, this ratio appears to be particularly appropriate for studies dealing with corporate failure. This ratio continually outperforms other profitability measures, including cash flow.
X4, Market Value of Equity/Book Value of Total Liabilities (MVE/TL): The measure shows how much the firm's assets can decline in value (measured by market value of equity plus debt) before the liabilities exceed the assets and the firm becomes insolvent.
X5, Revenue/Total Assets (S/TA): The capital-turnover ratio is a standard financial ratio illustrating the sales generating ability of the firm's assets.
Read more about Altman Z-score and the original research.
Z score does not apply to financial companies.
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- Seekingalpha 2020-01-21 09:19:58
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