Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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Chipotle Mexican Grill Inc. pages available for free this week:
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Analysis of Geographic Areas
- Common Stock Valuation Ratios
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Equity (ROE) since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Sales (P/S) since 2005
- Analysis of Revenues
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Chipotle Mexican Grill Inc., consolidated cash flow statement (quarterly data)
US$ in thousands
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Net Income
- Net income exhibited substantial volatility but generally showed an upward trend over the periods analyzed. Starting with a relatively modest figure in early 2020, it surged significantly in subsequent quarters, with peaks around mid-2024 before slightly tapering in late 2025. This suggests overall earnings growth despite fluctuations, potentially influenced by seasonality or external economic factors.
- Depreciation and Amortization
- Depreciation and amortization expenses steadily increased across the timelines, indicating ongoing investments in long-term assets.
- Deferred Income Tax Provision (Benefit)
- The deferred tax figures fluctuated markedly between positive and negative values. Such volatility suggests changing tax positions possibly due to adjustments in tax laws, changes in earnings, or timing differences in income recognition.
- Impairment, Closure Costs, and Asset Disposals
- Costs related to impairments and disposals varied with occasional spikes, notably around 2023, which could reflect strategic restructuring or asset write-downs during those periods.
- Provision for Credit Losses
- This provision showed small values fluctuating between gains and losses without a clear directional trend, implying relatively stable credit risk exposure.
- Stock-Based Compensation Expense
- Stock-based compensation increased significantly from 2020 to 2024 with periods of fluctuation, indicating greater use of equity incentives, possibly to attract or retain employees amid growth phases. However, a sharp decrease occurred in late 2024 and 2025, which may reflect changes in compensation structure or stock award policies.
- Other Operating Items (Accounts Receivable, Inventory, Prepaid Expenses, Operating Lease Assets)
- Working capital components such as accounts receivable and inventory showed notable fluctuations without consistent upward or downward trends, suggesting variable operational cycles and inventory management strategies. Operating lease assets displayed a general increasing trend over time, consistent with growing leasehold commitments.
- Accounts Payable, Accrued Payroll and Benefits, Accrued Liabilities, Unearned Revenue
- These liabilities exhibited substantial volatility with marked swings in accrued payroll and benefits and unearned revenue, indicating significant timing differences in expenses and revenue recognition and possibly reflecting changes in payroll policies or deferred revenue arrangements.
- Income Tax Payable/Receivable
- Income tax accounts were highly volatile, alternating between large receivables and payables, which align with the irregular pattern noted in deferred tax provisions, reflecting complex tax dynamics.
- Operating Lease Liabilities and Other Long-Term Liabilities
- Operating lease liabilities generally maintained a stable yet sizable negative balance, corresponding with the growth in operating lease assets, consistent with long-term lease commitments. Other long-term liabilities remained relatively low and stable.
- Cash Flows from Operating Activities
- There was an overall upward trend in net cash provided by operating activities, peaking in several quarters around 2023-2024. This indicates improving cash generation efficiency despite fluctuations correlating with earnings volatility.
- Investing Activities
- Net cash used in investing activities was consistently negative, driven largely by substantial purchases of property, equipment, and investments, signaling continuous capital expenditure and investment growth strategies. Occasional increases in maturities of investments provided some cash inflows but did not reverse the overall investing cash outflow trend.
- Financing Activities
- Financing activities predominantly involved cash outflows, mainly from repurchases of common stock and tax withholdings on stock-based compensation, indicating active shareholder returns and compensation mechanisms. The magnitude of stock repurchases increased significantly over time, especially from 2021 onward, demonstrating a strategic emphasis on reducing share count or capital distribution.
- Net Change in Cash and Cash Equivalents
- The net cash change showed considerable variability. There were quarters with substantial cash inflows followed by sharp declines, reflecting the interplay of operating cash generation, investing outflows, and financing activities. Notably, some quarters experienced large negative cash changes in spite of positive operating cash flows, primarily due to heavy investing and financing outflows.