Browsing by Author "Haack, Alexander"
Now showing 1 - 1 of 1
Results Per Page
Sort Options
- Equity valuation of Chipotle Mexican Grill Inc.Publication . Haack, Alexander; Martins, José TudelaThis thesis provides a strategic, financial, and valuation analysis of Chipotle Mexican Grill, Inc. as of March 31, 2025. A valuation is conducted using a Discounted Cash Flow (DCF) model and a market-based EV/EBITDA multiple, resulting in a target share price of USD 56.60, which lies within a ±10% range of the current market price.
The financial forecast assumes continued revenue growth driven by new store openings and modest improvements in operational efficiency. Although total capital expenditures rise, the investment relative to revenue gradually declines. This reflects Chipotle’s scalable growth model, supported by expansion across North America and stable Comparable Restaurant Sales Growth.
To assess plausibility, results are compared with analyst reports by Stephens and Zacks. Despite differences in methodology, the valuation outcomes are largely consistent. This thesis applies a slightly higher peer-derived EV/EBITDA multiple, resulting in a moderately increased per-share valuation. Based on the valuation range, a HOLD classification is deemed appropriate.