| Gross Margin | 45.7% | 43.9% | 40.6% | | Profit Margin | 12.1% | 5.9% | | | Return on Equity | 44.6% | 40.0% | 29.4% | | EPS-Basic | 43.64 | 20.80 | 11.06 | | EPS-Diluted | 43.16 | 20.36 | 10.86 | | Current Ratio | 1.54 | 1.27 | 1.58 | | Asset Turnover | | 1.29 | 1.17 | | Debt to Equity | 1.39 | 1.58 | 1.53 | | P/E Ratio | 52.80 | 42.78 | 75.33 |

Comment on the companys profitability. Did it improve or deteriorate or stay about the same? Indicate which ratio(s) and any trend/vertical analysis you relied upon.

Comment on the companys liquidity. Did it improve or deteriorate or stay about the same? Indicate which ratio(s) and any trend/vertical analysis you relied upon and consider the difference between the current ratio and the quick ratio (which is lower).

Comment on the companys solvency. Did it improve or deteriorate or stay about the same? What is the largest liability and what does it indicate about how Chipotle operates? Indicate which ratio(s )and any trend/vertical analysis you relied upon.