# Chipotle CDR (CAD Hedged) (CMGS.TO) fundamentals

Data as of 2026-11-04. TSX, Canada. Sector: Consumer Cyclical / Hospitality & Leisure. Price C$12.80, market value C$57.4 billion.

## Valuation
- **P/E (trailing): 32.0×** (5-yr avg 45.5×, 3-yr avg 45.5×). Chipotle CDR (CAD Hedged) trades at 32.0× trailing earnings, well below its own five-year average of 45.5×: cheap by its own standards. The Consumer Cyclical median in the September 2026 study was 19.5×.
- **Price / sales: 4.5×**. Each dollar of revenue is priced at 4.5×.
- **Price / book: 93.9×**. The shares trade at 93.9× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **EV / EBITDA: 26.8×**. Enterprise value is 26.8× operating earnings before depreciation, the multiple that ignores how the company is financed; above 20× is demanding.
- **Free-cash-flow yield: 2.6%** (5-yr avg 2.1%). Free cash flow equals 2.6% of the market value, above its five-year average of 2.1%, so the shares are cheaper on cash than they have usually been.
- **Earnings yield: 3.1%**. The inverse of the P/E: 3.1% of the price is earned each year.

## Profitability
- **Gross margin: 23.8%**. Chipotle CDR (CAD Hedged) keeps 23.8% of revenue after the direct cost of what it sells, a thin margin typical of retail, distribution and commodity businesses.
- **Operating margin: 14.9%**. 14.9% of revenue is left after running the business.
- **Net margin: 12.9%**. 12.9% of each dollar of sales reaches the bottom line.
- **Return on equity: 54.3%**. A 54.3% return on equity is extremely high; check whether buybacks or debt have shrunk the equity base, which flatters the ratio.
- **Return on invested capital: 20.8%**. Return on all capital, debt included, is 20.8%: comfortably above what that capital costs.
- **Return on assets: 15.3%**. Each dollar of assets produces 15.3% of profit.

## Growth
- **Revenue growth (1 yr): 5.4%** (3-yr 11.4%/yr). Revenue grew 5.4% over the last year.
- **EPS growth (1 yr): 2.7%** (3-yr 21.2%/yr). Earnings per share rose 2.7%, roughly in step with revenue.
- **Free-cash-flow growth (3 yr): 19.7%/yr**. Free cash flow has compounded at 19.7% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 1.79**. Debt is 1.79 times equity, a leveraged balance sheet that needs steady cash flow to service.
- **Net debt / EBITDA: 1.8×**. It would take 1.8 years of operating earnings to repay net borrowings, within the comfortable range.
- **Current ratio: 1.23** (quick 1.19). Current assets cover the next year's liabilities 1.23 times.
- **Altman Z-score: 7.90**. A Z-score of 7.90 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend: none**. Chipotle CDR (CAD Hedged) does not currently pay a dividend, but it returned 3.8% of its market value through buybacks over the last year.

## Price and momentum
- **From 52-week high: -20.9%** (21.2% above the low). Trading 21% below its 52-week high.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 56**. An RSI of 56 is neutral.
- **Beta (1 yr): 0.50** (volatility 43%). Beta of 0.50 against the S&P/TSX Composite: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=CMGS.TO · Page: https://foliofundamentals.com/stocks/cmgs.to

Not investment advice.