Chipotle Mexican Grill, Inc. — Earnings Quality Grade F
CMG · Consumer Cyclical
Major red flags
Screening Summary
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 5 days, change +0 days YoY
AR outpaced revenue for 2 consecutive years
Revenue 5.4%, CFFO 0.4%. Cash follows revenue
Expense Quality
Inventory 1.2% vs COGS 7.3%. Normal
CapEx growth 12.3% vs revenue 5.4%. Normal
SG&A/Gross Profit = 21.5%, excellent (<30%)
Gross margin 25.4%, change -1.3pp. Stable
Cash Flow Quality
CFFO/NI = 1.38. Profits backed by cash
FCF $1.4B, FCF/NI = 0.94
Accruals ratio = -6.4%. Low accruals
Cash $1.0B covers only 21% of debt $5.1B
Balance Sheet Health
Goodwill+Intangibles $0.0B = 1% of equity. Manageable
Debt/EBITDA = 2.1x. Healthy
Other assets 15.7% vs revenue 5.4%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 0% YoY. Normal
Manipulation Score
M-Score = -2.92 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-10