Chipotle Mexican Grill Management
Management criteria checks 3/4
Chipotle Mexican Grill's CEO is Scott Boatwright, appointed in Aug 2024, has a tenure of 2.08 years. total yearly compensation is $15.46M, comprised of 7.1% salary and 92.9% bonuses, including company stock and options. directly owns 0.025% of the company’s shares, worth $10.61M. The average tenure of the management team and the board of directors is 1.9 years and 5.5 years respectively.
Key information
Scott Boatwright
Chief executive officer
US$15.5m
Total compensation
| CEO salary percentage | 7.09% |
| CEO tenure | 2.1yrs |
| CEO ownership | 0.03% |
| Management average tenure | 1.9yrs |
| Board average tenure | 5.5yrs |
Recent management updates
Recent updates
Seeking Alpha • Sep 10
Chipotle's Business Is Bottoming Out, But The Fundamentals Are High (Upgrade)
Summary Chipotle Mexican Grill has stabilized comp sales, with Q2 growth of 2.2% after a previous decline. I upgraded CMG from sell to hold, citing a revamped rewards program and signs of business bottoming, but remain cautious due to valuation. CMG’s TTM GAAP P/E of ~34 and P/S of ~3.9 are difficult to justify amid compressed margins and only moderate growth. While the value pivot may aid comp sales, economic headwinds or poor expansion execution could pressure margins and valuation further. Read the full article on Seeking Alpha
Narrative Update • Aug 03
CMG: International Expansion And New Units Will Support Higher Future P E
The analyst price target for Chipotle Mexican Grill has moved modestly higher to $43.92 from $42.88, reflecting updated models after Q2 results, including revised EPS forecasts, steady revenue growth assumptions, a slightly higher profit margin outlook, and a lower future P/E multiple that many analysts link to recent price target increases across the Street. Analyst Commentary Recent research on Chipotle Mexican Grill highlights a mix of optimism and caution around execution, growth, and valuation following the latest Q2 report and guidance updates.
Narrative Update • Jul 20
CMG: Mexico Entry And Same Store Sales Shape Balanced Medium Term Outlook
Analysts nudged the fair value estimate for Chipotle Mexican Grill higher, with the price target moving from $34.00 to $35.00 as they factor in slightly stronger same store sales assumptions, a modestly higher profit margin outlook, and updated P/E expectations reflected across recent research. Analyst Commentary Recent Street research on Chipotle Mexican Grill reflects a mix of optimism around same store sales and more cautious views on how much of that strength is already reflected in the stock's valuation.
New Narrative • Jul 17
Chipotle Mexican Grill will thrive with a 5% revenue boost
Chipotle is a fast-casual restaurant business that makes almost all of its money from company-owned restaurants selling Mexican-inspired food (burritos, bowls, tacos, etc.). Its growth strategy is straightforward: open more stores, increase digital sales, and improve restaurant productivity.
Narrative Update • Jul 06
CMG: Reset Multiple And Store Expansion Plan Will Support Recovery
Analysts have trimmed the Chipotle Mexican Grill fair value estimate from $54.79 to $52.00 as they temper revenue growth, margin, and future P/E assumptions, while still pointing to a reset valuation that some see as offering "quality growth at the right price". Analyst Commentary Recent Street research around Chipotle Mexican Grill has become more divided, with some high profile firms seeing the current share price reset as an entry point while others flag a slower growth and margin story.Narrative Update • Jun 22
CMG: 2026 Expansion And Menu Tests Will Support Higher P E Multiple
Analysts have trimmed the Chipotle Mexican Grill price target by $3 to $35. This reflects a slightly higher discount rate and mixed research commentary that highlights both perceived valuation opportunity and more cautious views on future comps and margin visibility.Narrative Update • Jun 06
CMG: 2026 International Expansion Plans Will Support Higher P E Multiple
Analysts have trimmed the Chipotle Mexican Grill fair value estimate by about $0.52 to $42.88, reflecting a mix of lower average price targets and a slightly higher discount rate, even as revenue growth expectations and future P/E assumptions remain broadly steady across recent research. Analyst Commentary Recent research on Chipotle Mexican Grill highlights a split between analysts who see current levels as an opportunity and those who are more cautious on the company’s execution and growth trajectory.Narrative Update • May 15
CMG: 2026 Menu And Unit Expansion Plans Will Support Higher P E Multiple
Chipotle Mexican Grill's analyst price target has been adjusted slightly lower to reflect an updated fair value of about $43.40. Analysts cite modest tweaks to discount rate assumptions, slightly softer revenue growth expectations, a small improvement in profit margin, and a lower future P/E multiple, informed by a mix of recent target cuts and upgrades across the Street.Narrative Update • Apr 26
CMG: 2026 Menu Initiatives Are Expected To Support Higher P E Multiple
Chipotle Mexican Grill's updated analyst price target reflects a modest trim of fair value to $43.66, with analysts broadly fine-tuning their models as they weigh slightly higher discount rates, adjusted long term P/E assumptions, and a recent wave of small downward target revisions across major firms. Analyst Commentary Recent Street research around Chipotle Mexican Grill points to a period of recalibration, with many firms trimming price targets by small increments and a few highlighting more constructive long term views.
New Narrative • Apr 21
Chipotle Mexican Grill, Inc. Reports Resilient FY 2025 Earnings Despite Margin Pressures and Heavy Capital Returns
Analyst: Qudus Adebara (Founder of Wane Investment House) Executive Summary Chipotle Mexican Grill, Inc. delivered a solid financial performance for the year ended December 31, 2025, with total revenue rising to $11.93 billion, reflecting +5.4% YoY growth driven primarily by strong food and beverage sales.Narrative Update • Apr 11
CMG: 2026 Sales Initiatives And Buybacks Will Support Higher P E Multiple
Analysts trimmed their Chipotle Mexican Grill price target by about $0.50 to reflect slightly lower fair value, a modestly higher discount rate, and marginally softer revenue growth and profit margin assumptions, partly offset by a higher future P/E multiple supported by recent mixed but generally constructive research commentary. Analyst Commentary Recent research on Chipotle Mexican Grill reflects a mix of cautious fine tuning on price targets and supportive views on the business model, management, and long term growth potential.Narrative Update • Mar 27
CMG: 2026 Sales Initiatives And Buybacks Will Sustain Elevated P E Multiple
The analyst price target for Chipotle Mexican Grill has been trimmed by about $0.07 to reflect slightly lower modeled fair value, even as analysts highlight modest improvements in revenue growth, profit margin assumptions, and a still elevated future P/E, informed by a mix of recent target cuts, fresh Buy initiations, and sector-wide re-rating work for 2026. Analyst Commentary Recent research on Chipotle Mexican Grill reflects an active debate around how much investors should pay for the company given mixed sector trends, shifting consumer behavior, and company specific execution questions.Narrative Update • Mar 13
CMG: 2026 Sales Initiatives And Buybacks Will Support Multiple Expansion
Analysts made a small upward adjustment to their Chipotle price target, moving it by about $0.33, as they weighed newly bullish views tied to potential sales drivers and multiple expansion against a recent wave of modest target trims from other firms. Analyst Commentary Recent research on Chipotle shows a split view, with some firms highlighting long term growth drivers and others focusing on consumer headwinds and execution risk.Narrative Update • Feb 26
CMG: 2026 Marketing Firepower And Buybacks Will Support Upside Potential
Analysts have made a small upward adjustment to their Chipotle price target to about $44. This reflects slightly lower assumed discount rates and a modestly higher future P/E multiple, along with fine-tuned revenue growth and margin expectations.Narrative Update • Feb 09
CMG: 2026 Unit Expansion And Share Repurchases Will Support Upside Potential
Analysts now see slightly lower upside for Chipotle, trimming the price target in line with a modest reduction in fair value to about $44.24 per share after reassessing the discount rate, revenue growth, profit margin, and future P/E assumptions. Analyst Commentary Recent Street research around Chipotle Mexican Grill has become more finely balanced, with several small downward price target revisions offset by a cluster of earlier target increases and a few rating changes.Narrative Update • Jan 25
CMG: 2026 Traffic Recovery And Unit Expansion Will Drive Balanced Risk Reward
Analysts have nudged their Chipotle Mexican Grill fair value estimate higher to about $45 per share from roughly $44, citing a slightly lower discount rate, modest tweaks to long term revenue growth and profit margin assumptions, and a marginally higher future P/E multiple that reflect recent shifts in Street price targets and mixed but engaged research coverage. Analyst Commentary Recent Street research paints a mixed picture for Chipotle Mexican Grill, with price targets moving in both directions and opinions divided on how quickly the company can work through current traffic and macro pressures.Narrative Update • Jan 11
CMG: 2026 Unit Expansion And Traffic Recovery Efforts Will Shape Balanced Outlook
Analysts have lifted the Chipotle Mexican Grill fair value estimate slightly, with the price target moving from US$43.18 to US$44.12. This reflects modest tweaks to discount rate, revenue growth, profit margin and future P/E assumptions after a mix of target cuts on macro and traffic headwinds, as well as fresh target hikes tied to updated 2026 restaurant sector outlooks.Narrative Update • Dec 18
CMG: 2026 Unit Expansion Will Drive Long Term Upside Despite Near Term Traffic Headwinds
Analysts have modestly reduced their average price target for Chipotle Mexican Grill by about $10 per share to the mid $40s, citing weaker than expected Q3 traffic and comp trends, macro driven consumer softness, and lowered same store sales guidance, even as they highlight longer term benefits from menu innovation, value focused marketing, and continued unit growth. Analyst Commentary Analysts broadly agree that Chipotle is navigating a tougher operating backdrop, but they differ on how quickly the brand can reaccelerate traffic and comps and how much of the long term growth story remains intact at current valuation levels.Narrative Update • Dec 04
CMG: Robust 2026 Unit Expansion Is Expected To Drive Long Term Upside
The Analyst Price Target for Chipotle Mexican Grill has been cut meaningfully, with analysts trimming expectations by roughly $10 per share as persistent macro headwinds, softer traffic, and repeated same store sales guidance cuts temper the near term outlook, despite confidence in the longer term unit growth story. Analyst Commentary Recent Street commentary reflects a more cautious stance on Chipotle in the near term, with widespread price target reductions but a generally constructive view on the multiyear unit growth and margin opportunity.Narrative Update • Nov 20
CMG: Robust Unit Expansion Plans Will Lead to Improved Performance
Analysts have lowered their average price target for Chipotle Mexican Grill, cutting it from approximately $45.09 to $43.18 per share. Ongoing macroeconomic pressures and softer same-store sales trends continue to weigh on the company's near-term outlook.Analysis Article • Nov 07
Chipotle Mexican Grill, Inc. (NYSE:CMG) Stocks Pounded By 25% But Not Lagging Market On Growth Or Pricing
The Chipotle Mexican Grill, Inc. ( NYSE:CMG ) share price has fared very poorly over the last month, falling by a...Narrative Update • Nov 01
CMG: Share Repurchases And Menu Revamps Will Drive Stronger Performance Ahead
Chipotle Mexican Grill's analyst price target has been lowered significantly, dropping from approximately $54 to about $45. Analysts cite ongoing traffic challenges, softer same-store sales growth, and mounting macroeconomic headwinds following disappointing third-quarter results.Narrative Update • Oct 18
Restaurant Expansion In Mexico And Europe Will Boost Performance
Chipotle Mexican Grill's analyst price target has been reduced from approximately $56.94 to $54.15. Analysts cite near-term industry headwinds, including choppy demand, softer sales trends, and cautious sector outlooks as factors driving the adjustment.Narrative Update • Oct 04
Restaurant Expansion In Mexico And Europe Will Boost Performance
Analysts have lowered their price target for Chipotle Mexican Grill to approximately $56.94 from about $57.75. This modest reduction reflects tempered revenue growth expectations, despite recent performance improvements and ongoing industry challenges.Narrative Update • Sep 10
Restaurant Expansion In Mexico And Europe Will Boost Performance
Analysts modestly lowered Chipotle's consensus price target to $57.75, citing disappointing Q2 results, macro headwinds, and heightened competitive pressures, though some remain constructive on resilient demand, recent menu innovation, and the company's long-term growth outlook. Analyst Commentary Bullish analysts cite improved risk/reward following a 31% YTD selloff, with expectations that market pessimism regarding same-store-sales is overly priced in.CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Jun 30 2026 | n/a | n/a | US$1b |
| Mar 31 2026 | n/a | n/a | US$1b |
| Dec 31 2025 | US$15m | US$1m | US$2b |
| Sep 30 2025 | n/a | n/a | US$2b |
| Jun 30 2025 | n/a | n/a | US$2b |
| Mar 31 2025 | n/a | n/a | US$2b |
| Dec 31 2024 | US$19m | US$768k | US$2b |
| Sep 30 2024 | n/a | n/a | US$1b |
| Jun 30 2024 | n/a | n/a | US$1b |
| Mar 31 2024 | n/a | n/a | US$1b |
| Dec 31 2023 | US$6m | US$608k | US$1b |
| Sep 30 2023 | n/a | n/a | US$1b |
| Jun 30 2023 | n/a | n/a | US$1b |
| Mar 31 2023 | n/a | n/a | US$1b |
| Dec 31 2022 | US$5m | US$563k | US$899m |
| Sep 30 2022 | n/a | n/a | US$809m |
| Jun 30 2022 | n/a | n/a | US$756m |
| Mar 31 2022 | n/a | n/a | US$684m |
| Dec 31 2021 | US$5m | US$546k | US$653m |
| Sep 30 2021 | n/a | n/a | US$710m |
| Jun 30 2021 | n/a | n/a | US$586m |
| Mar 31 2021 | n/a | n/a | US$406m |
| Dec 31 2020 | US$12m | US$517k | US$356m |
| Sep 30 2020 | n/a | n/a | US$237m |
| Jun 30 2020 | n/a | n/a | US$256m |
| Mar 31 2020 | n/a | n/a | US$338m |
| Dec 31 2019 | US$5m | US$468k | US$350m |
Compensation vs Market: Scott's total compensation ($USD15.46M) is about average for companies of similar size in the US market ($USD14.74M).
Compensation vs Earnings: Scott's compensation has been consistent with company performance over the past year.
CEO
Scott Boatwright (53 yo)
2.1yrs
Tenure
US$15,455,736
Compensation
Mr. Scott Boatwright has been the Chief Executive Officer and Director of Chipotle Mexican Grill, Inc. since November 12, 2024 and was its Interim Chief Executive Officer since August 31, 2024 until Novemb...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 2.1yrs | US$15.46m | 0.025% $ 10.6m | |
| President and Chief Strategy & Technology Officer | 9.5yrs | US$7.74m | 0.031% $ 13.0m | |
| Chief Financial Officer | 1.9yrs | US$3.99m | 0.0041% $ 1.7m | |
| Chief Operating Officer | 1.3yrs | no data | no data | |
| VP, Controller & Principal Accounting Officer | 1.1yrs | no data | 0.00040% $ 169.2k | |
| Chief Legal & Human Resources Officer | 2.8yrs | no data | 0.0021% $ 884.1k | |
| Chief Development Officer | less than a year | no data | no data | |
| Chief Corporate Affairs & Food Safety Officer | 7.5yrs | no data | 0.013% $ 5.6m | |
| Managing Director of Canada | no data | no data | no data | |
| Chief People Officer - Field Operations | 2.8yrs | no data | no data | |
| Chief Business Development Officer | 1.7yrs | no data | no data | |
| Senior Vice President of Brand Marketing | less than a year | no data | no data |
1.9yrs
Average Tenure
53.5yo
Average Age
Experienced Management: CMG's management team is not considered experienced ( 1.9 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 1.8yrs | US$15.46m | 0.025% $ 10.6m | |
| Independent Director | 7.5yrs | US$377.53k | 0.0034% $ 1.4m | |
| Independent Director | 6.2yrs | US$367.53k | 0.0030% $ 1.3m | |
| Independent Director | 29.7yrs | US$335.03k | 0.25% $ 107.8m | |
| Independent Director | 5.5yrs | US$340.03k | 0.0053% $ 2.2m | |
| Independent Director | less than a year | US$118.63k | 0.00081% $ 342.7k | |
| Independent Director | 5.5yrs | US$340.03k | 0.0034% $ 1.4m | |
| Chairman & Lead Independent Director | 7.5yrs | US$555.03k | 0.0039% $ 1.7m | |
| Independent Director | 9.8yrs | US$370.03k | 0.0040% $ 1.7m | |
| Independent Director | no data | no data | no data | |
| Independent Director | 3yrs | US$340.03k | 0.0014% $ 609.2k |
5.5yrs
Average Tenure
58yo
Average Age
Experienced Board: CMG's board of directors are considered experienced (5.5 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/09/20 01:11 |
| End of Day Share Price | 2026/09/18 00:00 |
| Earnings | 2026/06/30 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Chipotle Mexican Grill, Inc. is covered by 56 analysts. 34 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| John Staszak | Argus Research Company |
| David Tarantino | Baird |
| Jeffrey Bernstein | Barclays |