Analysis of Long-term (Investment) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
Chipotle Mexican Grill Inc., long-term (investment) activity ratios
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Chipotle Mexican Grill Inc. net fixed asset turnover ratio improved from 2022 to 2023 and from 2023 to 2024. |
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Chipotle Mexican Grill Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2022 to 2023 and from 2023 to 2024. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Chipotle Mexican Grill Inc. total asset turnover ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Chipotle Mexican Grill Inc. equity turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Net Fixed Asset Turnover
Chipotle Mexican Grill Inc., net fixed asset turnover calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Revenue | 11,313,853) | 9,871,649) | 8,634,652) | 7,547,061) | 5,984,634) | |
| Leasehold improvements, property and equipment, net | 2,390,126) | 2,170,038) | 1,951,147) | 1,769,278) | 1,584,311) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover1 | 4.73 | 4.55 | 4.43 | 4.27 | 3.78 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||
| Airbnb Inc. | — | 61.98 | 69.41 | 38.27 | 12.50 | |
| Booking Holdings Inc. | 28.53 | 27.25 | 25.55 | 13.33 | 8.99 | |
| McDonald’s Corp. | — | 0.95 | 0.92 | 0.94 | 0.77 | |
| Starbucks Corp. | 4.17 | 4.87 | 4.92 | 4.56 | 3.77 | |
| Net Fixed Asset Turnover, Sector | ||||||
| Consumer Services | — | 2.76 | 2.59 | 2.27 | 1.74 | |
| Net Fixed Asset Turnover, Industry | ||||||
| Consumer Discretionary | — | 3.50 | 3.47 | 3.31 | 3.37 | |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Net fixed asset turnover = Revenue ÷ Leasehold improvements, property and equipment, net
= 11,313,853 ÷ 2,390,126 = 4.73
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Chipotle Mexican Grill Inc. net fixed asset turnover ratio improved from 2022 to 2023 and from 2023 to 2024. |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Chipotle Mexican Grill Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Revenue | 11,313,853) | 9,871,649) | 8,634,652) | 7,547,061) | 5,984,634) | |
| Leasehold improvements, property and equipment, net | 2,390,126) | 2,170,038) | 1,951,147) | 1,769,278) | 1,584,311) | |
| Operating lease assets | 4,000,127) | 3,578,548) | 3,302,402) | 3,118,294) | 2,767,185) | |
| Leasehold improvements, property and equipment, net (including operating lease, right-of-use asset) | 6,390,253) | 5,748,586) | 5,253,549) | 4,887,572) | 4,351,496) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 1.77 | 1.72 | 1.64 | 1.54 | 1.38 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | ||||||
| Airbnb Inc. | — | 35.54 | 32.43 | 13.98 | 5.16 | |
| Booking Holdings Inc. | 17.07 | 14.35 | 13.01 | 8.31 | 5.29 | |
| McDonald’s Corp. | — | 0.66 | 0.64 | 0.61 | 0.50 | |
| Starbucks Corp. | 2.02 | 2.28 | 2.21 | 1.99 | 1.64 | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | ||||||
| Consumer Services | — | 1.66 | 1.55 | 1.29 | 0.99 | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | ||||||
| Consumer Discretionary | — | 2.68 | 2.66 | 2.51 | 2.57 | |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenue ÷ Leasehold improvements, property and equipment, net (including operating lease, right-of-use asset)
= 11,313,853 ÷ 6,390,253 = 1.77
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Chipotle Mexican Grill Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2022 to 2023 and from 2023 to 2024. |
Total Asset Turnover
Chipotle Mexican Grill Inc., total asset turnover calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Revenue | 11,313,853) | 9,871,649) | 8,634,652) | 7,547,061) | 5,984,634) | |
| Total assets | 9,204,374) | 8,044,362) | 6,927,504) | 6,652,958) | 5,982,896) | |
| Long-term Activity Ratio | ||||||
| Total asset turnover1 | 1.23 | 1.23 | 1.25 | 1.13 | 1.00 | |
| Benchmarks | ||||||
| Total Asset Turnover, Competitors2 | ||||||
| Airbnb Inc. | — | 0.48 | 0.52 | 0.44 | 0.32 | |
| Booking Holdings Inc. | 0.86 | 0.88 | 0.67 | 0.46 | 0.31 | |
| McDonald’s Corp. | — | 0.45 | 0.46 | 0.43 | 0.36 | |
| Starbucks Corp. | 1.15 | 1.22 | 1.15 | 0.93 | 0.80 | |
| Total Asset Turnover, Sector | ||||||
| Consumer Services | — | 0.74 | 0.71 | 0.59 | 0.49 | |
| Total Asset Turnover, Industry | ||||||
| Consumer Discretionary | — | 0.97 | 0.96 | 0.88 | 0.84 | |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Total asset turnover = Revenue ÷ Total assets
= 11,313,853 ÷ 9,204,374 = 1.23
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Chipotle Mexican Grill Inc. total asset turnover ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
Equity Turnover
Chipotle Mexican Grill Inc., equity turnover calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Revenue | 11,313,853) | 9,871,649) | 8,634,652) | 7,547,061) | 5,984,634) | |
| Shareholders’ equity | 3,655,546) | 3,062,207) | 2,368,023) | 2,297,374) | 2,020,135) | |
| Long-term Activity Ratio | ||||||
| Equity turnover1 | 3.09 | 3.22 | 3.65 | 3.29 | 2.96 | |
| Benchmarks | ||||||
| Equity Turnover, Competitors2 | ||||||
| Airbnb Inc. | — | 1.21 | 1.51 | 1.25 | 1.16 | |
| Booking Holdings Inc. | — | — | 6.14 | 1.77 | 1.39 | |
| McDonald’s Corp. | — | — | — | — | — | |
| Starbucks Corp. | — | — | — | — | — | |
| Equity Turnover, Sector | ||||||
| Consumer Services | — | — | — | 23.06 | — | |
| Equity Turnover, Industry | ||||||
| Consumer Discretionary | — | 3.86 | 4.21 | 3.74 | 4.82 | |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Equity turnover = Revenue ÷ Shareholders’ equity
= 11,313,853 ÷ 3,655,546 = 3.09
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Chipotle Mexican Grill Inc. equity turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |