Company-operated fast casual
Chipotle Mexican Grill
Chipotle Mexican Grill earns most of its revenue by selling burritos, bowls, tacos, and beverages through company-operated U.S. restaurants, with additional sales from digital ordering and international partner-operated locations. It spends on ingredients, beverages, delivery, restaurant automation, and financial services while investing directly in supply-chain and restaurant-technology companies.
CMG Updated Sep 12, 2026 4 AI consumers· 2 recurring
Per the valuechain.wiki graph, Chipotle Mexican Grill is directly linked to 2 companies (1 supply, 1 revenue relationships) and reaches 8 companies within two hops; the links are backed by 7 dated sources, 1 of them primary filings (as of 2026-09-12).
Financials & Segments
- Total revenue · FY2025 revenue: USD 11.925601 billion
- Segments · U.S. company-operated restaurants · International and partner-operated restaurants
Revenue from
- U.S. company-operated restaurant guests High confidence· Amount $11.7B · FY2025 · U.S. segment revenue generated from guests of company-operated restaurants
Guests at U.S. company-operated restaurants are Chipotle's core demand base. The U.S. segment generated $11.679417 billion in FY2025, and no single customer accounted for 10% or more of total revenue.Confirms EN SEC EDGAR Published Feb 4, 2026: Chipotle Mexican Grill, Inc. 2025 Annual Report (Form 10-K)Confirms KO KB Securities Published Jun 1, 2023: Chipotle Mexican Grill: Pricing Power and Resilient Demand - DoorDash, Inc. High confidence
DoorDash serves as both a marketplace for Chipotle orders and the fulfillment provider for delivery orders placed through Chipotle's own app and website. Chipotle receives marketplace-order payments from delivery partners but does not disclose DoorDash-specific revenue.Confirms EN SEC EDGAR Published Feb 4, 2026: Chipotle Mexican Grill, Inc. 2025 Annual Report (Form 10-K)Confirms EN Chipotle Newsroom Published Apr 30, 2018: Burritos On Board: Chipotle Is Now Available For DoorDash Delivery - South Korean restaurant guests Medium confidence
Chipotle opened its first Asian restaurant in Seoul in September 2026 through a joint venture with Sangmidang Holdings. Revenue attributable to South Korean guests has not yet been disclosed separately.Confirms EN Chipotle Newsroom Published Sep 2, 2026: Chipotle Arrives in Asia with First Restaurant in SeoulConfirms KO The Korea Economic Daily Published Sep 1, 2026: The Long-Awaited U.S. Chain Chipotle Arrives in South Korea
Pays to
- Tractor Beverages, Inc. High confidence· Amount $52M · FY2025 · Purchases of products from Tractor Beverages
Tractor Beverages supplies beverages sold in Chipotle restaurants. Chipotle purchased $51.953 million of product from the company in FY2025.Confirms EN SEC EDGAR Published Feb 4, 2026: Chipotle Mexican Grill, Inc. 2025 Annual Report (Form 10-K) - Vebu Inc. High confidence· Amount $6M · FY2025 · Purchases of restaurant-automation products and services from Vebu
Vebu develops Autocado, an automated avocado-processing system for Chipotle. Chipotle purchased $5.561 million from Vebu in FY2025.Confirms EN SEC EDGAR Published Feb 4, 2026: Chipotle Mexican Grill, Inc. 2025 Annual Report (Form 10-K)Confirms EN Restaurant Dive Published Jul 26, 2024: Chipotle's Advanced Equipment Strategy Takes a Step Forward - JPMorgan Chase High confidence· Market share 0.115 percent_per_year · FY2025 · Annual commitment-fee rate applied to unused amounts under the $500 million revolving credit facility
JPMorgan Chase is the administrative agent for Chipotle's $500 million revolving credit facility. There were no outstanding borrowings at year-end 2025, but unused commitments carry a 0.115% annual fee.Confirms EN SEC EDGAR Published Feb 4, 2026: Chipotle Mexican Grill, Inc. 2025 Annual Report (Form 10-K)
Investments
- Tractor Beverages, Inc. High confidence· Amount $15M · through FY2025 · Cumulative cash consideration invested in Tractor Beverages common stock
Chipotle has invested cumulative cash consideration of $14.872 million in beverage supplier Tractor Beverages. It owned approximately 13.5% at year-end 2025 and held board representation.Confirms EN SEC EDGAR Published Feb 4, 2026: Chipotle Mexican Grill, Inc. 2025 Annual Report (Form 10-K)Mentions EN Chipotle Investor Relations Published Feb 28, 2024: Chipotle Doubles Its Commitment to the Cultivate Next Venture Fund to $100 Million
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Kroger | lead2 | +45.4 | +0.4 | +5 | +36.9 | +4.3 | -4.6 |
| Domino's | lead2 | +48.4 | -37.9 | +20.7 | +3.2 | +0.9 | -17.2 |
| DoorDash, Inc. | lead1 | · | -67.2 | +102.6 | +69.6 | +35 | -6.5 |
| Chipotle Mexican Grill | node | +26.1 | -20.6 | +64.8 | +31.8 | -38.6 | -0.1 |
| JPMorgan Chase | benef1 | +27.7 | -12.6 | +30.6 | +44.3 | +37.3 | +12.9 |
| Newmont Corporation | benef2 | +7.4 | -20.8 | -8.8 | -7.8 | +172.8 | +29.1 |
| Marriott International, Inc. | benef2 | +25.3 | -9.3 | +53.1 | +24.9 | +12.3 | +9.1 |
| Visa Inc | benef2 | -0.3 | -3.4 | +26.3 | +22.3 | +11.8 | +7.6 |
| Mastercard Inc | benef2 | +1.2 | -2.7 | +23.4 | +24.2 | +9 | +2 |
YTD as of 2026-09-04 · source: Yahoo Finance
Chipotle Mexican Grill operates across Company-operated fast casual. It remained weak at -38.6% in 2025 and -0.1% in 2026. Demand side (avg -6.5%), the stock (-0.1%) and supply side (avg +12.9%) are moving in step. Propagation has completed a lap, so the next leg depends on individual results more than chain direction. Among connected nodes the furthest ahead is JPMorgan Chase (+12.9%) and the furthest behind is DoorDash, Inc. (-6.5%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. It spends on ingredients, beverages, delivery, restaurant automation, and financial services while investing directly in supply-chain and restaurant-technology companies.
Analysis generated from returns as of 2026-09-04