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Chipotle Mexican Grill vs Restaurant Brands International Limited Partnership: revenue, profit, margins and growth compared

Chipotle Mexican Grill brought in $11.9B of revenue in fiscal 2025, Restaurant Brands International Limited Partnership $9.4B in fiscal 2025. Revenue changed by +5.4% at Chipotle Mexican Grill and +12.2% at Restaurant Brands International Limited Partnership on the year before, so Restaurant Brands International Limited Partnership grew faster. Chipotle Mexican Grill kept 12.9% of its revenue as net profit, Restaurant Brands International Limited Partnership 11.4%. Free cash flow was $1.4B at Chipotle Mexican Grill and $1.4B at Restaurant Brands International Limited Partnership.

Side by side, latest fiscal year

CMGRSTRF
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$11.9B$9.4B
Revenue growth+5.4%+12.2%
Net income$1.5B$1.1B
Net margin12.9%11.4%
Free cash flow$1.4B$1.4B
Free cash flow margin12.1%15.4%
Earnings per share (diluted)$1.14n/a
Cash$350.5M$1.2B
Debt$0$13.3B
Price to earnings27.9n/a
Market value$40.3Bn/a
Dividend yieldn/an/a
Rank by revenue in sector#111 of 1065 · Consumer discretionary#127 of 1065 · Consumer discretionary

Over the years

Revenue
CMG FY2018: $4.9BCMG FY2019: $5.6BCMG FY2020: $6BCMG FY2021: $7.5BCMG FY2022: $8.6BCMG FY2023: $9.9BCMG FY2024: $11.3BCMG FY2025: $11.9BRSTRF FY2018: $5.4BRSTRF FY2019: $5.6BRSTRF FY2020: $5BRSTRF FY2021: $5.7BRSTRF FY2022: $6.5BRSTRF FY2023: $7BRSTRF FY2024: $8.4BRSTRF FY2025: $9.4BFY18FY19FY20FY21FY22FY23FY24FY25
CMG $11.9BRSTRF $9.4B
Net income
CMG FY2018: $176.6MCMG FY2019: $350.2MCMG FY2020: $355.8MCMG FY2021: $653MCMG FY2022: $899.1MCMG FY2023: $1.2BCMG FY2024: $1.5BCMG FY2025: $1.5BRSTRF FY2018: $1.1BRSTRF FY2019: $1.1BRSTRF FY2020: $748MRSTRF FY2021: $1.2BRSTRF FY2022: $1.5BRSTRF FY2023: $1.7BRSTRF FY2024: $1.4BRSTRF FY2025: $1.1BFY18FY19FY20FY21FY22FY23FY24FY25
CMG $1.5BRSTRF $1.1B
Net margin
CMG FY2018: 3.6%CMG FY2019: 6.3%CMG FY2020: 5.9%CMG FY2021: 8.7%CMG FY2022: 10.4%CMG FY2023: 12.4%CMG FY2024: 13.6%CMG FY2025: 12.9%RSTRF FY2018: 21.3%RSTRF FY2019: 19.8%RSTRF FY2020: 15.1%RSTRF FY2021: 21.8%RSTRF FY2022: 22.7%RSTRF FY2023: 24.4%RSTRF FY2024: 17.2%RSTRF FY2025: 11.4%FY18FY19FY20FY21FY22FY23FY24FY25
CMG 12.9%RSTRF 11.4%
Revenue growth
CMG FY2019: +14.8%CMG FY2020: +7.1%CMG FY2021: +26.1%CMG FY2022: +14.4%CMG FY2023: +14.3%CMG FY2024: +14.6%CMG FY2025: +5.4%RSTRF FY2019: +4.6%RSTRF FY2020: -11.3%RSTRF FY2021: +15.5%RSTRF FY2022: +13.3%RSTRF FY2023: +7.9%RSTRF FY2024: +19.7%RSTRF FY2025: +12.2%FY19FY20FY21FY22FY23FY24FY25
CMG +5.4%RSTRF +12.2%
Free cash flow
CMG FY2018: $334.2MCMG FY2019: $387.7MCMG FY2020: $290.5MCMG FY2021: $839.6MCMG FY2022: $844MCMG FY2023: $1.2BCMG FY2024: $1.5BCMG FY2025: $1.4BRSTRF FY2018: $1.1BRSTRF FY2019: $1.4BRSTRF FY2020: $804MRSTRF FY2021: $1.6BRSTRF FY2022: $1.4BRSTRF FY2023: $1.2BRSTRF FY2024: $1.3BRSTRF FY2025: $1.4BFY18FY19FY20FY21FY22FY23FY24FY25
CMG $1.4BRSTRF $1.4B

Fiscal years as each company reports them; the two may end in different months.

Questions about Chipotle Mexican Grill and Restaurant Brands International Limited Partnership

Which is bigger by revenue, Chipotle Mexican Grill or Restaurant Brands International Limited Partnership?

Chipotle Mexican Grill is bigger by revenue: $11.9B in fiscal 2025, against $9.4B for Restaurant Brands International Limited Partnership in fiscal 2025.

Which keeps more of its revenue as profit, Chipotle Mexican Grill or Restaurant Brands International Limited Partnership?

Chipotle Mexican Grill had a net margin of 12.9% in fiscal 2025; Restaurant Brands International Limited Partnership had 11.4% in fiscal 2025.

Which grew revenue faster, Chipotle Mexican Grill or Restaurant Brands International Limited Partnership?

In their latest fiscal years revenue changed by +5.4% at Chipotle Mexican Grill and +12.2% at Restaurant Brands International Limited Partnership.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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