
• Reported GAAP EPS of $0.25 up 4.17% YoY • Reported revenue of $2.98B up 4.86% YoY • For 2026, Chipotle anticipates full year comparable restaurant sales to be about flat, with 350 to 370 new restaurant openings, including 10 to 15 international partner-operated restaurants, and an effective tax rate between 24% and 26%.
Bullish
Chipotle achieved strong revenue growth in 2025, fueled by new restaurant openings and its "Recipe for Growth" strategy focusing on operational excellence and technology, while also improving diluted earnings per share and effective tax rate.
Bearish
Chipotle experienced a decrease in comparable restaurant sales and operating margins in Q4 and full year 2025, alongside increased labor costs due to wage inflation and a significant decrease in cash and cash equivalents.