Chipotle Mexican Grill vs Restaurant Brands International (CMG vs QSR)
Side by side from their SEC filings: revenue, margins, growth, returns and valuation, plus short interest, insider activity and institutional ownership.
Chipotle Mexican Grill is the larger company by revenue ($11.9B vs $9.4B) and market value ($45.2B vs $34.5B). Restaurant Brands International has grown revenue faster over the last 4 fiscal years (+64.4% cumulative vs +58.0%). Restaurant Brands International runs the higher operating margin (23.3% vs 16.2%). Restaurant Brands International trades at the lower trailing P/E (24.3x vs 32.3x).
About Chipotle Mexican Grill
Chipotle Mexican Grill Inc operates a chain of restaurants offering a menu that includes burritos, burrito bowls, quesadillas, tacos, and salads. The company owns and operates thousands of restaurants primarily in the United States, with additional locations internationally, serving customers who seek responsibly sourced, high-quality food without artificial additives. Chipotle emphasizes food safety, sustainability, and digital innovation to enhance the customer experience and supports employee growth and inclusivity within its workforce.
About Restaurant Brands International
Restaurant Brands International Inc. operates one of the largest quick service restaurant companies globally, with over 33,000 restaurants in more than 120 countries. The company owns and franchises four main brands: Tim Hortons, Burger King, Popeyes, and Firehouse Subs, offering a range of food and beverage products including coffee, hamburgers, chicken, and sandwiches. Most of its restaurants are franchised, serving customers worldwide through a network of franchisees and company-operated locations.
Head to head (CMG FY2025 vs QSR FY2025)
| Metric | CMGFY2025 | QSRFY2025 |
|---|---|---|
| Revenue | $11.93B | $9.43B |
| Revenue growth (YoY) | 5.4% | 12.2% |
| Gross margin | — | — |
| Operating margin | 16.2% | 23.3% |
| Net margin | 12.9% | 11.4% |
| Net income | $1.54B | $1.07B |
| Diluted EPS | $1.14 | $2.35 |
| FCF margin | 12.1% | 15.4% |
| ROE | 54.3% | 20.8% |
| Debt / equity | 0.0× | 2.6× |
| Market cap | $45.22B | $34.49B |
| P/E (TTM) | 32.3× | 24.3× |
Fundamentals are from each company’s SEC filings (CMG FY2025, QSR FY2025). P/E and market cap are derived from recent market prices and update daily.
Five-year trend (as reported)
| Revenue | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| CMG | $7.55B | $8.63B | $9.87B | $11.31B | $11.93B |
| QSR | $5.74B | $6.50B | $7.02B | $8.41B | $9.43B |
Peer standing
Where each company ranks among the 42 restaurant companies, on the same scale. Each figure is ranked only against peers that report it. Percentiles describe position in the distribution, not a rating.
| Metric | CMG | QSR |
|---|---|---|
| Operating margin | 16.2%85th percentile of 40 | 23.3%90th percentile of 40 |
| Net margin | 12.9%93rd percentile of 42 | 11.4%85th percentile of 42 |
| FCF margin | 12.1%83rd percentile of 42 | 15.4%90th percentile of 42 |
| Revenue growth (YoY) | +5.4%51st percentile of 42 | +12.2%78th percentile of 42 |
| ROE | 54.3%96th percentile of 29 | 20.8%71st percentile of 29 |
| P/E (TTM) | 32.3×73rd percentile of 27 | 24.3×54th percentile of 27 |
| Debt / equity | 0.00×Lowest of 22 | 2.57×90th percentile of 22 |
| Short interest (days to cover) | 2.29d28th percentile of 41 | 5.19d78th percentile of 41 |
Short interest
| FINRA settlement data | CMG | QSR |
|---|---|---|
| Shares sold short | 51.9M | 17.5M |
| Change vs prior settlement | +3.8% | -3.4% |
| Days to cover | 2.29 | 5.19 |
| As of settlement | 2026-06-30 | 2026-06-30 |
Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data; republishing or redistributing it is not permitted. Not presented as a percentage of float. No FINRA endorsement of this product is implied.
Held by the same investors
6 tracked 13F managers hold both Chipotle Mexican Grill and Restaurant Brands International as of their latest quarterly filings: AQR Capital Management, Bridgewater Associates, Citadel Advisors, D. E. Shaw, Gotham Asset Management, Millennium Management. See which superinvestors hold your own portfolio with the smart money checker.
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Data sourced from SEC EDGAR (public domain). Figures are as-reported and may be unaudited or restated; verify against the source filings before relying on them. Comparisons are descriptive (higher or lower on a reported figure), not a rating or a recommendation. Informational only. Not investment advice.