CMG vs. EAT

Last updated Jun 5, 2026

CMG (Chipotle Mexican Grill, Inc.) and EAT (Brinker International, Inc.) are both stocks. Both operate in the Restaurants industry within the Consumer Cyclical sector. Over the past 10 years, CMG returned 12.21%/yr vs 13.06%/yr for EAT. At a 0.38 correlation, their price movements are largely independent.

Performance

CMG vs. EAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Chipotle Mexican Grill, Inc. (CMG) and Brinker International, Inc. (EAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CMG achieves a -23.84% return, which is significantly lower than EAT's -4.89% return. Over the past 10 years, CMG has underperformed EAT with an annualized return of 12.21%, while EAT has yielded a comparatively higher 13.06% annualized return.

CMG

• 1D: -1.95%
• 1M: -12.78%
• YTD: -23.84%
• 6M: -17.48%
• 1Y: -45.97%
• 3Y*: -12.10%
• 5Y*: 1.22%
• 10Y*: 12.21%

EAT

• 1D: -2.68%
• 1M: -5.82%
• YTD: -4.89%
• 6M: -4.04%
• 1Y: -21.33%
• 3Y*: 52.33%
• 5Y*: 19.28%
• 10Y*: 13.06%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CMG vs. EAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CMG Chipotle Mexican Grill, Inc.	-23.84%	-38.64%	31.83%	64.83%	-20.64%	26.07%	65.65%	93.87%	49.39%	-23.40%
EAT Brinker International, Inc.	-4.89%	8.49%	206.37%	35.32%	-12.79%	-35.32%	36.16%	-0.92%	17.27%	-18.44%

Correlation

The correlation between CMG and EAT is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (10Y) Calculated over the trailing 10-year period	0.32
Correlation (All Time) Calculated using the full available price history since Jan 27, 2006	0.38

Fundamentals

Market Cap CMG : $36.69B EAT : $6.07B
EPS CMG : $1.09 EAT : $10.14
PE Ratio CMG : 25.77 EAT : 13.46
PEG Ratio CMG : 0.97 EAT : 0.31
PS Ratio CMG : 3.08 EAT : 1.09
PB Ratio CMG : 15.24 EAT : 14.96
Total Revenue (TTM) CMG : $12.14B EAT : $5.73B
Gross Profit (TTM) CMG : $4.39B EAT : $3.45B
EBITDA (TTM) CMG : $2.30B EAT : $807.20M

Return for Risk

CMG vs. EAT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CMG

CMG Risk / Return Rank: 5
CMG Sharpe Ratio Rank: 2
CMG Sortino Ratio Rank: 4
CMG Omega Ratio Rank: 4
CMG Calmar Ratio Rank: 7
CMG Martin Ratio Rank: 11

EAT

EAT Risk / Return Rank: 23
EAT Sharpe Ratio Rank: 21
EAT Sortino Ratio Rank: 22
EAT Omega Ratio Rank: 23
EAT Calmar Ratio Rank: 25
EAT Martin Ratio Rank: 22

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CMG vs. EAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Chipotle Mexican Grill, Inc. (CMG) and Brinker International, Inc. (EAT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CMG	EAT	Difference
Sharpe ratio: Return per unit of total volatility	-1.21	-0.46	-0.74
Sortino ratio: Return per unit of downside risk	-1.71	-0.42	-1.29
Omega ratio: Gain probability vs. loss probability	0.77	0.95	-0.18
Calmar ratio: Return relative to maximum drawdown	-0.89	-0.48	-0.41
Martin ratio: Return relative to average drawdown	-1.33	-0.99	-0.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CMG vs. EAT - Sharpe Ratio Comparison

The current CMG Sharpe Ratio is -1.21, which is lower than the EAT Sharpe Ratio of -0.46. The chart below compares the historical Sharpe Ratios of CMG and EAT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CMG	EAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.21	-0.46	-0.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	0.39	-0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	0.24	+0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.28	+0.21

Drawdowns

CMG vs. EAT - Drawdown Comparison

The maximum CMG drawdown since its inception was -74.61%, smaller than the maximum EAT drawdown of -88.40%. Use the drawdown chart below to compare losses from any high point for CMG and EAT.

Drawdown Indicators

	CMG	EAT	Difference
Max Drawdown Largest peak-to-trough decline	-74.61%	-88.40%	+13.79%
Max Drawdown (1Y) Largest decline over 1 year	-51.61%	-44.41%	-7.20%
Max Drawdown (3Y) Largest decline over 3 years	-58.89%	-45.92%	-12.97%
Max Drawdown (5Y) Largest decline over 5 years	-58.89%	-65.73%	+6.84%
Max Drawdown (10Y) Largest decline over 10 years	-58.89%	-84.94%	+26.05%
Current Drawdown Current decline from peak	-58.89%	-27.83%	-31.06%
Average Drawdown Average peak-to-trough decline	-21.33%	-24.34%	+3.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.63%	21.59%	+13.04%

Volatility

CMG vs. EAT - Volatility Comparison

The current volatility for Chipotle Mexican Grill, Inc. (CMG) is 9.34%, while Brinker International, Inc. (EAT) has a volatility of 15.84%. This indicates that CMG experiences smaller price fluctuations and is considered to be less risky than EAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMG	EAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.34%	15.84%	-6.50%
Volatility (6M) Calculated over the trailing 6-month period	23.00%	35.47%	-12.47%
Volatility (1Y) Calculated over the trailing 1-year period	38.44%	46.26%	-7.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.51%	49.08%	-15.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.63%	55.07%	-19.44%

Dividends

CMG vs. EAT - Dividend Comparison

Neither CMG nor EAT has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CMG Chipotle Mexican Grill, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EAT Brinker International, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.67%	3.62%	3.46%	3.71%	2.67%	2.50%

Financials

CMG vs. EAT - Profitability Comparison

The chart below illustrates the profitability comparison between Chipotle Mexican Grill, Inc. and Brinker International, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CMG - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Chipotle Mexican Grill, Inc. reported a gross profit of 2.11B and revenue of 3.09B. Therefore, the gross margin over that period was 68.4%.

EAT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Brinker International, Inc. reported a gross profit of 1.10B and revenue of 1.47B. Therefore, the gross margin over that period was 74.6%.

CMG - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Chipotle Mexican Grill, Inc. reported an operating income of 397.06M and revenue of 3.09B, resulting in an operating margin of 12.9%.

EAT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Brinker International, Inc. reported an operating income of 166.60M and revenue of 1.47B, resulting in an operating margin of 11.3%.

CMG - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Chipotle Mexican Grill, Inc. reported a net income of 302.82M and revenue of 3.09B, resulting in a net margin of 9.8%.

EAT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Brinker International, Inc. reported a net income of 127.90M and revenue of 1.47B, resulting in a net margin of 8.7%.

Frequently Asked Questions

Can I hold both CMG and EAT in my portfolio?

CMG and EAT have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CMG or EAT?

EAT has higher volatility (15.84%) compared to CMG (9.34%). In terms of maximum drawdown, CMG dropped -74.61% vs EAT's -88.40%.

Which has better risk-adjusted returns?

EAT currently has the higher Sharpe Ratio (-0.46 vs -1.21), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.