Chipotle Mexican Grill, Inc.

Chipotle Mexican Grill, Inc. is a leading player in the fast casual dining sector, trading on the New York Stock Exchange under the ticker symbol "CMG". Founded in 1993, the Denver-based company offers a simple menu of high-quality, customizable burritos, tacos, bowls, and salads.

In terms of financial health, Chipotle has performed well, especially considering the impact of the COVID-19 pandemic on the restaurant industry. The company's digital sales have risen significantly, reflecting a successful pivot to online and mobile orders as well as delivery and pickup services. In fact, as of 2020, its digital sales account for over half of total revenue, underscoring the success of this strategy.

Moreover, Chipotle's financial statements reflect a robust balance sheet with a healthy cash position and manageable long-term debt. This financial flexibility, coupled with the company's strong brand and continued innovation, position it well for future growth.

The company's stock price experienced an impressive climb in 2020 and 2021. From a valuation standpoint, while the stock does trade at a premium compared to other QSR peers, it's arguably justified by the company's strong growth prospects and commitment to operational upscale.

However, potential investors should be aware of several risks, including the competitive nature of the fast casual dining sector, sensitivity to foodborne illnesses, and volatility in food costs, particularly in regards to key ingredients such as avocados and meat.

Finally, management deserves credit for steering the company through a food safety crisis in 2015-2016 and recent pandemic-related challenges. And their focus on digital initiatives and innovation seem promising.

In summary, Chipotle Mexican Grill, Inc. could be a solid pick for long-term investors seeking exposure to the fast casual dining space, provided they can stomach the price tag and potential risks.