Chipotle 2008 Annual Report Download - page 25

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COMPARISON OF CUMULATIVE TOTAL RETURN
The following graph compares the cumulative annual stockholders return on our classes of common stock
from the dates trading began on the NYSE (January 26, 2006 for class A and October 5, 2006 for class B)
through December 31, 2008 to that of the total return index for the Russell 2000 and the S&P SmallCap 600
Restaurants Index assuming an investment of $100 on January 26, 2006. In calculating total annual stockholder
return, reinvestment of dividends, if any, is assumed. The indices are included for comparative purpose only.
They do not necessarily reflect management’s opinion that such indices are an appropriate measure of the relative
performance of the class A or class B common stock. This graph is not “soliciting material,” is not deemed filed
with the Securities and Exchange Commission and is not to be incorporated by reference in any of our filings
under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether
made before or after the date hereof and irrespective of any general incorporation language in any such filing.
COMPARISON OF CUMULATIVE TOTAL RETURN*
Among Chipotle Mexican Grill, Inc, The Russell 2000 Index
And S&P SmallCap 600 Restaurants
$0
$50
$100
$150
$200
$250
$300
$350
$400
1/06
1/06
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5/06
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12/06
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12/07
1/08
2/08
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12/08
Chipotle Mexican Grill, Inc Class A Chipotle Mexican Grill, Inc Class B
Russell 2000 S&P SmallCap 600 Restaurants
*$100 invested on 1/26/06 in CMG or $100 invested on 10/5/06 in CMGB stock or index-including reinvestment of dividends.
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Annual Report