Chipotle Mexican Grill stock split: what it means for traders

Chipotle Mexican Grill (CMG) completed a landmark stock split in 2024, reshaping how its shares trade and appear on the market. This article explains how stock splits work, reviews Chipotle’s recent performance and outlines key considerations for traders as the company moves into 2026.

Chipotle Mexican Grill (CMG) live share price

Chipotle continued to draw attention after carrying out its first-ever stock split. As of early December 2025, the share price trades in the mid-$30s per share. This follows a year shaped by softer restaurant traffic and lower same-store sales, which kept price movements within a broad 52-week range of roughly $30–$67.

Intraday trading has recently hovered around $33–$35. The company’s market capitalisation sits in the mid-$40bn range, supported by trailing 12-month revenue of around $11.8bn and net income close to $1.5bn.

Past performance is not a reliable indicator of future results.

What is a stock split?

A stock split is a corporate action that increases the number of shares while reducing the nominal price per share in line with a chosen split ratio. Although the number of shares changes, the company’s overall market value stays the same. An investor’s economic position is also unchanged.

In a 50-for-1 split, each existing share becomes 50 new shares, each priced at about one-fiftieth of the original level. A lower nominal price can make shares appear more accessible to a wider range of market participants, especially those who prefer trading in smaller increments.

Companies often opt for splits when their share price rises to a level that could reduce retail participation or affect trading flexibility. Splits don’t alter fundamentals such as revenue, margins or long-term prospects.

Chipotle Mexican Grill’s 50-for-1 stock split

Chipotle carried out a 50-for-1 stock split on 26 June 2024, the first split since the company listed in 2006. Shareholders of record on 18 June received 49 additional shares for each one held, increasing the number of shares in circulation and reducing the nominal price per share.

Before the split, Chipotle’s stock traded above $3,000. Management noted that a lower price point could improve accessibility and enhance how the shares trade without changing the company’s underlying value.

Why did Chipotle Mexican Grill conduct a share split?

The company’s share price had reached levels that the board viewed as a potential barrier for some market participants. By lowering the nominal price, the board aimed to make the shares easier to transact in smaller amounts and encourage broader engagement.

Companies sometimes use splits to support liquidity or to align with practices seen across faster-growing sectors. Chipotle emphasised that the action was designed to improve the trading experience rather than signal any change in fundamentals.

Will Chipotle Mexican Grill split again in 2026?

As of December 2025, there’s no confirmed plan for another stock split in 2026. Chipotle hasn’t published any regulatory filings or formal announcements suggesting that a further split is being considered.

Any future decision would depend on several factors, including:

• A rising share price that the board views as high on a nominal basis
• Approval from the board and the required shareholder notifications
• Broader market conditions and the company’s strategic priorities

For now, discussion of a potential 2026 split remains speculative. Market focus is centred more on Chipotle’s earnings trajectory, traffic trends and cost pressures than on structural share actions.

Chipotle Mexican Grill stock split history

Chipotle’s split history is straightforward, with only one date, as of 4 December 2025:

• Effective date: 26 June 2024
• Split ratio: 50-for-1
• Notes: First and only stock split to date. One pre-split share became 50 post-split shares.

No earlier splits were recorded before 2024.

Latest earnings: Chipotle Mexican Grill FY 2025 results

Chipotle’s latest results show a mix of revenue growth and operational challenges.

For Q3 2025 (three months ended 30 September 2025), the company reported:

• Revenue of about $3.0bn, up around 7.5% year on year
• Comparable restaurant sales growth of about 0.3%
• Operating margin in the mid-teens, slightly below the previous year

While revenue expanded, weaker traffic and cost inflation put pressure on margins. Management guided to full-year comparable sales declining in the low single-digit range. Store development continued, with low-to-mid-300s net new openings across 2025, many featuring drive-thru 'Chipotlanes'.

Full-year 2025 results are scheduled for release around February 2026.

Past performance is not a reliable indicator of future results.

Summary

Chipotle Mexican Grill’s 50-for-1 stock split in June 2024 marked an important structural shift, reducing its nominal share price and broadening accessibility without altering underlying value.

As of December 2025, the stock trades in the mid-$30s after a year shaped by softer demand and cost pressures. While another split remains possible in theory, the company hasn’t signalled any such plan. Any future action would depend on share-price developments, market conditions and board approval.

With full-year 2025 results due in early 2026 and long-term growth tied to restaurant expansion and digital capability, operational performance is likely to have a greater influence on sentiment than speculation around further share-structure changes.

Create an account Open a demo account

FAQ