Dollar Amounts
USD (Millions)
Balance sheet data in USD (millions)
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From 2021 through 2024 Chipotle’s balance sheet shows steady expansion: total assets rose from $6,653m to $9,204m (≈+38.4%), with the largest year-over-year increases occurring in 2022→2023 (+16.1%) and 2023→2024 (+14.4%). Liabilities also increased but more slowly—from $4,356m to $5,549m (≈+27.4%)—while stockholders’ equity grew the fastest, from $2,297m to $3,656m (≈+59.2%). Year-to-year equity gains were particularly pronounced in 2022→2023 (+29.4%) and remained strong in 2023→2024 (+19.4%). The balance-sheet mix improved: the liabilities-to-assets ratio fell from about 65.5% in 2021 to ~60.3% in 2024, and the equity-to-assets ratio rose from ~34.5% to ~39.7%, indicating stronger capitalization and modestly lower financial leverage. These trends are consistent with a profitable, growth-oriented restaurant/franchise operator reinvesting in expansion and retaining earnings (or otherwise growing net worth) faster than it is adding debt. Note that the 2025 row contains zeros (missing data), so no 2025 conclusion can be drawn. Overall, the company’s position appears healthy—assets and equity have grown materially while leverage has edged down—supporting resilience for further expansion in the competitive fast-casual sector.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.