Chipotle Mexican Grill, Inc. owns and operates Chipotle Mexican Grill restaurants, featuring a menu of burritos, burrito bowls, quesadillas, tacos, and salads. The company focuses on serving responsibly sourced, classically cooked real food. Chipotle's mission is to make food more accessible, while maintaining a commitment to high-quality ingredients raised with respect for animals, farmers, and the environment. As of December 31, 2023, the company operated 3,371 restaurants in the U.S. and 66 internationally.

• Employees: 116,068 worldwide, plus 1,088 contract workers (as of December 31, 2023)
• Geographic Footprint: United States, Canada, France, Germany, and the United Kingdom
• Headquarters: Newport Beach, CA
• Founded: 1993
• Number of locations/facilities: 3,437 restaurants (as of December 31, 2023)
• Revenue: $9.9 billion (FY2023)

• CEO: Brian Niccol
• CFO: John R. Hartung

• Annual Revenue: $9.9 billion (FY2023)
• Net Income: $1.2 billion (FY2023)
• Total Assets: $8.0 billion (as of December 31, 2023)
• Employees: 116,068 worldwide (as of December 31, 2023)
• Key Financial Highlights: Total revenue increased 14.3%, comparable restaurant sales increased 7.9%, and diluted earnings per share was $44.34 (FY2023)

Chipotle offers a focused menu of:

• Burritos: Customizable with various fillings and toppings.
• Burrito Bowls: A burrito without the tortilla.
• Quesadillas: Grilled tortillas filled with cheese and other ingredients.
• Tacos: Served with a variety of fillings.
• Salads: Customizable with various dressings and toppings.

Chipotle manages its operations based on eight regions and aggregates its operations to one reportable segment. Revenue is derived from sales by company-owned restaurants.

Chipotle's strategy focuses on five key areas:

• Sustaining world-class people leadership.
• Running successful restaurants with a people-accountable culture.
• Making the brand visible, relevant, and loved.
• Amplifying technology and innovation.
• Expanding access and convenience through new restaurant openings.

The company is also focused on digital growth, with 37.4% of food and beverage revenue coming from digital sales in 2023. Chipotle is expanding access through Chipotlanes, a drive-through format for digital order pickup, and is investing in technology to enhance the guest experience.

Chipotle operates in the highly competitive fast-casual restaurant industry. Key competitors include other fast-casual, quick-service, and casual dining restaurants, as well as non-traditional market participants such as convenience meals and meal kit delivery services. Competition is based on factors such as taste, price, food quality, service, location, brand reputation, and digital engagement.

• Food safety risks: Potential for food-borne illnesses, which could negatively impact sales and brand reputation.
• Digital business risks: Reliance on third-party delivery services, potential for technological failures, and data privacy concerns.
• Labor costs: Increasing minimum wages and competitive labor market pressures.
• Cybersecurity risks: Potential for breaches, unauthorized access, and theft of guest and employee data.
• Supply chain risks: Increases in ingredient costs due to inflation, global conflicts, and climate risks.