Chipotle Mexican Grill
CMGMarket price data through July 31, 2026.
Performance
Aug 2021 – Jul 2026
Track record
How this pick has done since Benson first called it.
- Benson Return
- -31%
- How much this stock is up since Benson first picked it — measured from the price at the time of that first pick, not from today.
- First pick price
- ~$54
- Roughly what one share cost when Benson first picked this stock. This is the starting line for the Benson Return.
- Tracking since
- September 2024
- The month this stock first became a Benson pick.
- Tracking duration
- 22 months
- How long Benson has been tracking this pick.
About Chipotle Mexican Grill
Chipotle is the burrito and bowl chain you have probably eaten at, with more than 4,100 restaurants across the US, Canada, and Europe. They are known for fresh ingredients, customizable meals, and a heavy digital ordering business that now drives 39% of total sales. They own and operate every single restaurant, no franchising in their main markets.
The case for and against
Both sides of the story, in plain English.
- Traffic Returns
After several quarters of falling guest counts, Chipotle just got customers back through the door. Transactions grew 0.6% in Q1, the first positive print in a while. Management spent 700.8 million dollars buying back stock at an average price of just over 36 dollars, betting that the share price drop is overdone, and brought in a new Chief Brand Officer and Chief Digital Officer to spark fresh growth.
- Build Out Beast
Chipotle opened 49 new restaurants this quarter alone, with 42 of them including a Chipotlane drive-through that generates higher margins than dine-in. Full year guidance calls for 350 to 370 new openings, including 10 to 15 international partner-operated restaurants. Long-term they target 7,000 locations, almost double today's footprint.
- Margin Squeeze
Operating margin collapsed from 16.7% to 12.9% in just one year. Beef costs are up, freight is up, and labor wages keep climbing. Earnings per share dropped almost 18% this quarter despite revenue growing 7%. The stock is down roughly 35% from a year ago because the market is pricing in a longer recovery.
- Comp Sales Stall
Same-store sales grew just 0.5% this quarter and management guided full-year comparable sales to be about flat. Average check actually fell 0.1% as guests traded down to cheaper menu items. Without rising comps, all of the growth has to come from new openings, which is harder to scale.
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How to read this page
This automated research summary uses Financial Modeling Prep market data through 2026-07-31. Model signals, scores, and risk labels can change and may be incomplete or wrong.
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