Chipotle Mexican Grill
CMG · Restaurants
$27.52
2.2%Yum! Brands
YUM · Restaurants
$149.70
3.1%The short version
- Chipotle Mexican Grill is the larger business, with $11.9B of revenue in fiscal 2025 against $8.2B for Yum! Brands.
- Yum! Brands grew revenue faster (8.8%, against 5.4%).
- Yum! Brands kept more of each dollar of sales as operating profit (31.3% operating margin, against 16.2% operating margin).
- Yum! Brands turned more of its sales into free cash flow (20.0% FCF margin, against 12.1% FCF margin).
- Chipotle Mexican Grill earned a higher return on the capital invested in it (73.7%, against 54.8%).
- Investors pay more for each dollar of Chipotle Mexican Grill’s earnings: a P/E of 25.3x against 18.8x for Yum! Brands.
| Latest fiscal year | CMG · FY25 | YUM · FY25 |
|---|---|---|
| Size | ||
| Market cap | $35.2B | $41.5B |
| Revenue | $11.9B | $8.2B |
| Free cash flow | $1.4B | $1.6B |
| Net income | $1.5B | $1.6B |
| Growth | ||
| Revenue growth | 5.4% | 8.8% |
| 5-year growth | 14.8% | 7.8% |
| Share count change | −2.5% | −1.4% |
| Profitability | ||
| Gross margin | — | 69.8% |
| Operating margin | 16.2% | 31.3% |
| Net margin | 12.9% | 19.0% |
| FCF margin | 12.1% | 20.0% |
| Return on capital | 73.7% | 54.8% |
| Return on equity | 47.4% | — |
| Balance sheet | ||
| Net debt | −$1.0B | $11.3B |
| Net debt / EBITDA | −0.5x | 4.1x |
| Dividends and buybacks | $2.4B | $1.3B |
| Valuation & quality | ||
| P/E | 25.3x | 18.8x |
| Piotroski F-score | 4 | 6 |
FY16
CMG $3.9B
YUM $6.4B
FY17
CMG $4.5B
YUM $5.9B
FY18
CMG $4.9B
YUM $5.7B
FY19
CMG $5.6B
YUM $5.6B
FY20
CMG $6.0B
YUM $5.7B
FY21
CMG $7.5B
YUM $6.6B
FY22
CMG $8.6B
YUM $6.8B
FY23
CMG $9.9B
YUM $7.1B
FY24
CMG $11.3B
YUM $7.5B
FY25
CMG $11.9B
YUM $8.2B
CMG
YUM
FY16
CMG 0.9%
YUM 26.5%
FY17
CMG 6.1%
YUM 47.0%
FY18
CMG 5.3%
YUM 40.4%
FY19
CMG 8.0%
YUM 34.5%
FY20
CMG 4.9%
YUM 26.6%
FY21
CMG 10.7%
YUM 32.5%
FY22
CMG 13.4%
YUM 32.0%
FY23
CMG 15.8%
YUM 32.8%
FY24
CMG 16.9%
YUM 31.8%
FY25
CMG 16.2%
YUM 31.3%
CMG
YUM
FY16
CMG $96.3M
YUM —
FY17
CMG $251M
YUM $712M
FY18
CMG $334M
YUM $942M
FY19
CMG $388M
YUM $1.1B
FY20
CMG $291M
YUM $1.1B
FY21
CMG $840M
YUM $1.5B
FY22
CMG $844M
YUM $1.1B
FY23
CMG $1.2B
YUM $1.3B
FY24
CMG $1.5B
YUM $1.4B
FY25
CMG $1.4B
YUM $1.6B
CMG
YUM
FY16
CMG —
YUM 34.5%
FY17
CMG —
YUM 64.1%
FY18
CMG —
YUM 85.2%
FY19
CMG —
YUM 79.7%
FY20
CMG 31.0%
YUM 53.8%
FY21
CMG 56.4%
YUM 80.0%
FY22
CMG 65.6%
YUM 62.7%
FY23
CMG 73.0%
YUM 67.3%
FY24
CMG 73.1%
YUM 62.4%
FY25
CMG 73.7%
YUM 54.8%
CMG
YUM
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.