Restaurants · 17/36 against 19/36 checks · to 2026-09-08
CMG vs MCD.
ChipotleRuns Chipotle, a fast-casual chain that owns rather than franchises its restaurants.
McDonald'sFranchises most of its restaurants and earns rent and royalties from them.→Chipotle (CMG) and McDonald's (MCD) are within reach of each other at $46.8B and $181.0B, and on the filings McDonald's passes more, 19 checks of 36 against 17.
Which passes more checks?
widest gap first→The two are furthest apart on Shareholder returns, where McDonald's passes 3 more of the six.
| CMG | MCD | |
|---|---|---|
| Shareholder returns | 3/6 | 6/6 |
| Trend analysis | 3/6 | 0/6 |
| Value | 1/6 | 2/6 |
| Growth | 2/6 | 3/6 |
| Quality | 6/6 | 5/6 |
| Health | 2/6 | 3/6 |
| All checks | 17/36 | 19/36 |
→McDonald's turns over $27.7B to Chipotle's $12.4B, 2.2 times as much. Chipotle keeps 11.4% of revenue as profit against 31.7% at McDonald's.
Which hands more back to owners?
→McDonald's pays 2.8% at today's price and Chipotle effectively pays nothing, which is the clearest difference in what each hands back.
| CMG | MCD | |
|---|---|---|
| Dividend yield | - | 2.8% |
| Payout ratio | - | 58.2% |
| Years of unbroken dividend | - | - |
Which is cheaper?
→McDonald's is the cheaper of the two on earnings, 20.9x against 35.0x. Against their own histories, Chipotle is below its 61.2x median and McDonald's is below its 21.2x.
| CMG | MCD | |
|---|---|---|
| Share price | $36.96 | $255.81 |
| Market cap | $46.8B | $181.0B |
| P/E | 35.0x | 20.9x |
| P/E, own median own 10-year median / own 11-year median | 61.2x | 21.2x |
| P/S | 3.8x | 6.5x |
| Free cash flow yield | 3.4% | 4.3% |
Which is growing faster, CMG or MCD?
→Chipotle and McDonald's grew revenue at much the same rate last year, +7.3% against +6.3%. Over three years the order is the same, Chipotle at +11.4% and McDonald's at +5.1%.
| CMG | MCD | |
|---|---|---|
| Revenue (TTM) | $12.4B | $27.7B |
| Revenue growth, 1 year | +7.3% | +6.3% |
| Revenue CAGR, 3 years | +11.4% | +5.1% |
| Net income (TTM) | $1.4B | $8.8B |
| Free cash flow (TTM) | $1.6B | $7.8B |
Which keeps more of each sale?
→McDonald's keeps more of each sale: operating margin of 46.2% against 14.7%, a gap of 32 points that flows into everything below it.
| CMG | MCD | |
|---|---|---|
| Gross margin | - | - |
| Operating margin | 14.7% | 46.2% |
| Return on equity | 64.5% | - |
Which balance sheet is stronger?
| CMG | MCD | |
|---|---|---|
| Debt / equity | - | - |
| Interest coverage | - | 7.9x |
| Cash and short-term investments | $678M | $1.2B |
Where they differ most
the checks behind the gapShareholder returns: McDonald's 3 ahead
- Share count isn't climbing shares down 3.4% over 3 years
- Buybacks outpace the stock issued to staff $2.3B bought back vs $175M of stock compensation
- What it hands back fits inside its cash flow 97.3% vs 100.0%
- What it hands back fits inside its cash flow 177.4% vs 100.0%
- Buybacks are sustained, not one-off $2.8B bought back in the last twelve months, 0.00 the year before; no dividend
- Buybacks growing $2.8B vs 0.00 the year before; no dividend
Trend analysis: Chipotle 3 ahead
- Price above the Kumo cloud $36.96 against a cloud top of $35.28
- Tenkan above the Kijun Tenkan $37.71 above the Kijun $35.28, 10 sessions since they crossed
- The Senkou cloud ahead is rising the Senkou spans already drawn for the next 26 sessions are rising
- Price above the Kumo cloud $255.81, below the cloud bottom of $270.01
- Price above the Tenkan and the Kijun $255.81 against the Tenkan (9 sessions) at $260.75 and the Kijun (26) at $265.37
- Tenkan above the Kijun Tenkan $260.75 below the Kijun $265.37, 8 sessions since they crossed