Analysis of Solvency Ratios
Quarterly Data
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Chipotle Mexican Grill Inc., solvency ratios (quarterly data)
Based on: 10-K (reporting date: 2025-12-31), 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).
Debt Ratios
Debt to Equity
Chipotle Mexican Grill Inc., debt to equity calculation (quarterly data)
| Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||
| Total debt | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | |||||
| Shareholders’ equity | 2,830,607) | 3,221,838) | 3,528,195) | 3,490,872) | 3,655,546) | 3,613,898) | 3,711,820) | 3,361,329) | 3,062,207) | 2,886,314) | 2,766,886) | 2,481,685) | 2,368,023) | 2,327,381) | 2,154,199) | 2,133,960) | |||||
| Solvency Ratio | |||||||||||||||||||||
| Debt to equity1 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
| Benchmarks | |||||||||||||||||||||
| Debt to Equity, Competitors2 | |||||||||||||||||||||
| Airbnb Inc. | — | 0.23 | 0.26 | 0.25 | 0.24 | 0.23 | 0.25 | 0.25 | 0.24 | 0.22 | 0.39 | 0.38 | 0.36 | 0.36 | 0.38 | 0.42 | |||||
| Booking Holdings Inc. | — | — | — | — | — | — | — | — | — | — | — | 11.29 | 4.49 | 2.50 | 2.37 | 2.23 | |||||
| DoorDash, Inc. | — | 0.29 | 0.30 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
| McDonald’s Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||
| Starbucks Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||
Based on: 10-K (reporting date: 2025-12-31), 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).
1 Q4 2025 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity
= 0 ÷ 2,830,607 = 0.00
2 Click competitor name to see calculations.
Debt to Equity (including Operating Lease Liability)
Chipotle Mexican Grill Inc., debt to equity (including operating lease liability) calculation (quarterly data)
| Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||
| Total debt | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | |||||
| Current operating lease liabilities | 302,380) | 293,027) | 287,252) | 284,505) | 277,836) | 270,574) | 264,304) | 254,144) | 248,074) | 244,994) | 244,061) | 239,029) | 236,248) | 231,947) | 230,930) | 223,303) | |||||
| Long-term operating lease liabilities | 4,773,434) | 4,687,090) | 4,493,334) | 4,348,574) | 4,262,782) | 4,212,868) | 4,014,454) | 3,903,353) | 3,803,551) | 3,773,087) | 3,643,931) | 3,532,566) | 3,495,162) | 3,497,221) | 3,393,423) | 3,331,319) | |||||
| Total debt (including operating lease liability) | 5,075,814) | 4,980,117) | 4,780,586) | 4,633,079) | 4,540,618) | 4,483,442) | 4,278,758) | 4,157,497) | 4,051,625) | 4,018,081) | 3,887,992) | 3,771,595) | 3,731,410) | 3,729,168) | 3,624,353) | 3,554,622) | |||||
| Shareholders’ equity | 2,830,607) | 3,221,838) | 3,528,195) | 3,490,872) | 3,655,546) | 3,613,898) | 3,711,820) | 3,361,329) | 3,062,207) | 2,886,314) | 2,766,886) | 2,481,685) | 2,368,023) | 2,327,381) | 2,154,199) | 2,133,960) | |||||
| Solvency Ratio | |||||||||||||||||||||
| Debt to equity (including operating lease liability)1 | 1.79 | 1.55 | 1.35 | 1.33 | 1.24 | 1.24 | 1.15 | 1.24 | 1.32 | 1.39 | 1.41 | 1.52 | 1.58 | 1.60 | 1.68 | 1.67 | |||||
| Benchmarks | |||||||||||||||||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | |||||||||||||||||||||
| Booking Holdings Inc. | — | — | — | — | — | — | — | — | — | — | — | 11.79 | 4.69 | 2.58 | 2.45 | 2.31 | |||||
| DoorDash, Inc. | — | 0.34 | 0.36 | 0.06 | 0.07 | 0.07 | 0.07 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.07 | 0.07 | 0.09 | |||||
| Starbucks Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||
Based on: 10-K (reporting date: 2025-12-31), 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).
1 Q4 2025 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Shareholders’ equity
= 5,075,814 ÷ 2,830,607 = 1.79
2 Click competitor name to see calculations.
Debt to Capital
Chipotle Mexican Grill Inc., debt to capital calculation (quarterly data)
| Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||
| Total debt | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | |||||
| Shareholders’ equity | 2,830,607) | 3,221,838) | 3,528,195) | 3,490,872) | 3,655,546) | 3,613,898) | 3,711,820) | 3,361,329) | 3,062,207) | 2,886,314) | 2,766,886) | 2,481,685) | 2,368,023) | 2,327,381) | 2,154,199) | 2,133,960) | |||||
| Total capital | 2,830,607) | 3,221,838) | 3,528,195) | 3,490,872) | 3,655,546) | 3,613,898) | 3,711,820) | 3,361,329) | 3,062,207) | 2,886,314) | 2,766,886) | 2,481,685) | 2,368,023) | 2,327,381) | 2,154,199) | 2,133,960) | |||||
| Solvency Ratio | |||||||||||||||||||||
| Debt to capital1 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
| Benchmarks | |||||||||||||||||||||
| Debt to Capital, Competitors2 | |||||||||||||||||||||
| Airbnb Inc. | — | 0.19 | 0.20 | 0.20 | 0.19 | 0.19 | 0.20 | 0.20 | 0.20 | 0.18 | 0.28 | 0.27 | 0.26 | 0.26 | 0.27 | 0.30 | |||||
| Booking Holdings Inc. | — | 1.39 | 1.56 | 1.62 | 1.32 | 1.29 | 1.34 | 1.32 | 1.24 | 1.05 | 1.05 | 0.92 | 0.82 | 0.71 | 0.70 | 0.69 | |||||
| DoorDash, Inc. | — | 0.22 | 0.23 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
| McDonald’s Corp. | — | 1.06 | 1.07 | 1.10 | 1.11 | 1.15 | 1.14 | 1.15 | 1.14 | 1.15 | 1.16 | 1.18 | 1.20 | 1.23 | 1.23 | 1.21 | |||||
| Starbucks Corp. | 2.01 | 1.80 | 1.96 | 1.92 | 1.92 | 2.04 | 2.18 | 2.35 | 2.08 | 2.18 | 2.22 | 2.39 | 2.37 | 2.34 | 2.21 | 2.34 | |||||
Based on: 10-K (reporting date: 2025-12-31), 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).
1 Q4 2025 Calculation
Debt to capital = Total debt ÷ Total capital
= 0 ÷ 2,830,607 = 0.00
2 Click competitor name to see calculations.
Debt to Capital (including Operating Lease Liability)
Chipotle Mexican Grill Inc., debt to capital (including operating lease liability) calculation (quarterly data)
| Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||
| Total debt | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | |||||
| Current operating lease liabilities | 302,380) | 293,027) | 287,252) | 284,505) | 277,836) | 270,574) | 264,304) | 254,144) | 248,074) | 244,994) | 244,061) | 239,029) | 236,248) | 231,947) | 230,930) | 223,303) | |||||
| Long-term operating lease liabilities | 4,773,434) | 4,687,090) | 4,493,334) | 4,348,574) | 4,262,782) | 4,212,868) | 4,014,454) | 3,903,353) | 3,803,551) | 3,773,087) | 3,643,931) | 3,532,566) | 3,495,162) | 3,497,221) | 3,393,423) | 3,331,319) | |||||
| Total debt (including operating lease liability) | 5,075,814) | 4,980,117) | 4,780,586) | 4,633,079) | 4,540,618) | 4,483,442) | 4,278,758) | 4,157,497) | 4,051,625) | 4,018,081) | 3,887,992) | 3,771,595) | 3,731,410) | 3,729,168) | 3,624,353) | 3,554,622) | |||||
| Shareholders’ equity | 2,830,607) | 3,221,838) | 3,528,195) | 3,490,872) | 3,655,546) | 3,613,898) | 3,711,820) | 3,361,329) | 3,062,207) | 2,886,314) | 2,766,886) | 2,481,685) | 2,368,023) | 2,327,381) | 2,154,199) | 2,133,960) | |||||
| Total capital (including operating lease liability) | 7,906,421) | 8,201,955) | 8,308,781) | 8,123,951) | 8,196,164) | 8,097,340) | 7,990,578) | 7,518,826) | 7,113,832) | 6,904,395) | 6,654,878) | 6,253,280) | 6,099,433) | 6,056,549) | 5,778,552) | 5,688,582) | |||||
| Solvency Ratio | |||||||||||||||||||||
| Debt to capital (including operating lease liability)1 | 0.64 | 0.61 | 0.58 | 0.57 | 0.55 | 0.55 | 0.54 | 0.55 | 0.57 | 0.58 | 0.58 | 0.60 | 0.61 | 0.62 | 0.63 | 0.62 | |||||
| Benchmarks | |||||||||||||||||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | |||||||||||||||||||||
| Booking Holdings Inc. | — | 1.37 | 1.54 | 1.59 | 1.31 | 1.28 | 1.33 | 1.30 | 1.23 | 1.05 | 1.05 | 0.92 | 0.82 | 0.72 | 0.71 | 0.70 | |||||
| DoorDash, Inc. | — | 0.26 | 0.27 | 0.06 | 0.06 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.06 | 0.08 | |||||
| Starbucks Corp. | 1.44 | 1.38 | 1.41 | 1.41 | 1.41 | 1.46 | 1.51 | 1.54 | 1.48 | 1.52 | 1.53 | 1.57 | 1.58 | 1.57 | 1.54 | 1.55 | |||||
Based on: 10-K (reporting date: 2025-12-31), 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).
1 Q4 2025 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 5,075,814 ÷ 7,906,421 = 0.64
2 Click competitor name to see calculations.
Debt to Assets
Chipotle Mexican Grill Inc., debt to assets calculation (quarterly data)
| Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||
| Total debt | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | |||||
| Total assets | 8,994,531) | 9,281,848) | 9,268,794) | 9,044,094) | 9,204,374) | 9,011,670) | 8,919,835) | 8,411,249) | 8,044,362) | 7,911,493) | 7,552,435) | 7,053,372) | 6,927,504) | 6,817,437) | 6,545,336) | 6,467,257) | |||||
| Solvency Ratio | |||||||||||||||||||||
| Debt to assets1 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
| Benchmarks | |||||||||||||||||||||
| Debt to Assets, Competitors2 | |||||||||||||||||||||
| Airbnb Inc. | — | 0.09 | 0.07 | 0.08 | 0.10 | 0.09 | 0.08 | 0.08 | 0.10 | 0.09 | 0.09 | 0.10 | 0.12 | 0.12 | 0.10 | 0.12 | |||||
| Booking Holdings Inc. | — | 0.59 | 0.60 | 0.59 | 0.60 | 0.58 | 0.59 | 0.61 | 0.58 | 0.54 | 0.53 | 0.48 | 0.49 | 0.42 | 0.39 | 0.44 | |||||
| DoorDash, Inc. | — | 0.15 | 0.16 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
| McDonald’s Corp. | — | 0.68 | 0.70 | 0.69 | 0.70 | 0.70 | 0.72 | 0.70 | 0.70 | 0.72 | 0.71 | 0.71 | 0.71 | 0.72 | 0.70 | 0.67 | |||||
| Starbucks Corp. | 0.50 | 0.51 | 0.49 | 0.49 | 0.50 | 0.52 | 0.53 | 0.51 | 0.52 | 0.54 | 0.54 | 0.53 | 0.54 | 0.54 | 0.55 | 0.51 | |||||
Based on: 10-K (reporting date: 2025-12-31), 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).
1 Q4 2025 Calculation
Debt to assets = Total debt ÷ Total assets
= 0 ÷ 8,994,531 = 0.00
2 Click competitor name to see calculations.
Debt to Assets (including Operating Lease Liability)
Chipotle Mexican Grill Inc., debt to assets (including operating lease liability) calculation (quarterly data)
| Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||
| Total debt | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | |||||
| Current operating lease liabilities | 302,380) | 293,027) | 287,252) | 284,505) | 277,836) | 270,574) | 264,304) | 254,144) | 248,074) | 244,994) | 244,061) | 239,029) | 236,248) | 231,947) | 230,930) | 223,303) | |||||
| Long-term operating lease liabilities | 4,773,434) | 4,687,090) | 4,493,334) | 4,348,574) | 4,262,782) | 4,212,868) | 4,014,454) | 3,903,353) | 3,803,551) | 3,773,087) | 3,643,931) | 3,532,566) | 3,495,162) | 3,497,221) | 3,393,423) | 3,331,319) | |||||
| Total debt (including operating lease liability) | 5,075,814) | 4,980,117) | 4,780,586) | 4,633,079) | 4,540,618) | 4,483,442) | 4,278,758) | 4,157,497) | 4,051,625) | 4,018,081) | 3,887,992) | 3,771,595) | 3,731,410) | 3,729,168) | 3,624,353) | 3,554,622) | |||||
| Total assets | 8,994,531) | 9,281,848) | 9,268,794) | 9,044,094) | 9,204,374) | 9,011,670) | 8,919,835) | 8,411,249) | 8,044,362) | 7,911,493) | 7,552,435) | 7,053,372) | 6,927,504) | 6,817,437) | 6,545,336) | 6,467,257) | |||||
| Solvency Ratio | |||||||||||||||||||||
| Debt to assets (including operating lease liability)1 | 0.56 | 0.54 | 0.52 | 0.51 | 0.49 | 0.50 | 0.48 | 0.49 | 0.50 | 0.51 | 0.51 | 0.53 | 0.54 | 0.55 | 0.55 | 0.55 | |||||
| Benchmarks | |||||||||||||||||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | |||||||||||||||||||||
| Booking Holdings Inc. | — | 0.61 | 0.62 | 0.61 | 0.62 | 0.60 | 0.61 | 0.63 | 0.61 | 0.56 | 0.55 | 0.50 | 0.51 | 0.43 | 0.40 | 0.45 | |||||
| DoorDash, Inc. | — | 0.18 | 0.19 | 0.04 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.06 | |||||
| Starbucks Corp. | 0.83 | 0.83 | 0.82 | 0.81 | 0.82 | 0.84 | 0.86 | 0.84 | 0.84 | 0.85 | 0.86 | 0.84 | 0.85 | 0.85 | 0.86 | 0.82 | |||||
Based on: 10-K (reporting date: 2025-12-31), 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).
1 Q4 2025 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 5,075,814 ÷ 8,994,531 = 0.56
2 Click competitor name to see calculations.
Financial Leverage
Chipotle Mexican Grill Inc., financial leverage calculation (quarterly data)
| Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||
| Total assets | 8,994,531) | 9,281,848) | 9,268,794) | 9,044,094) | 9,204,374) | 9,011,670) | 8,919,835) | 8,411,249) | 8,044,362) | 7,911,493) | 7,552,435) | 7,053,372) | 6,927,504) | 6,817,437) | 6,545,336) | 6,467,257) | |||||
| Shareholders’ equity | 2,830,607) | 3,221,838) | 3,528,195) | 3,490,872) | 3,655,546) | 3,613,898) | 3,711,820) | 3,361,329) | 3,062,207) | 2,886,314) | 2,766,886) | 2,481,685) | 2,368,023) | 2,327,381) | 2,154,199) | 2,133,960) | |||||
| Solvency Ratio | |||||||||||||||||||||
| Financial leverage1 | 3.18 | 2.88 | 2.63 | 2.59 | 2.52 | 2.49 | 2.40 | 2.50 | 2.63 | 2.74 | 2.73 | 2.84 | 2.93 | 2.93 | 3.04 | 3.03 | |||||
| Benchmarks | |||||||||||||||||||||
| Financial Leverage, Competitors2 | |||||||||||||||||||||
| Airbnb Inc. | — | 2.68 | 3.47 | 3.16 | 2.49 | 2.61 | 3.29 | 3.11 | 2.53 | 2.35 | 4.19 | 3.78 | 2.88 | 2.90 | 3.63 | 3.60 | |||||
| Booking Holdings Inc. | — | — | — | — | — | — | — | — | — | — | — | 23.47 | 9.12 | 6.01 | 6.12 | 5.12 | |||||
| DoorDash, Inc. | — | 1.89 | 1.90 | 1.62 | 1.65 | 1.62 | 1.65 | 1.64 | 1.59 | 1.53 | 1.50 | 1.48 | 1.45 | 1.40 | 1.34 | 1.47 | |||||
| McDonald’s Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||
| Starbucks Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||
Based on: 10-K (reporting date: 2025-12-31), 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).
1 Q4 2025 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity
= 8,994,531 ÷ 2,830,607 = 3.18
2 Click competitor name to see calculations.