As of Q4'25, Chipotle Mexican Grill (CMG) reported cash and short-term investments at $1.05B USD, reflecting a notable decline from the prior quarter's $1.42B USD, while total debt reached $5.08B USD, marking a steady increase from $4.98B USD in Q3'25. This positions the company's net debt at approximately $4.03B USD, highlighting a liquidity strain in the latest period. Over the timeframe from Q1'23 to Q4'25, cash and short-term investments exhibited an overall upward trend, rising from $1.06B USD to a peak of $1.55B USD in Q2'25 before dropping to $1.05B USD, with average quarterly growth of about 5% early on but increased volatility in later periods. In contrast, debt showed consistent expansion from $3.77B USD to $5.08B USD, averaging 7% quarterly growth and underscoring a widening gap between assets and liabilities, which may signal rising leverage and potential refinancing needs for financial analysts to monitor.