I'm a long-term shareholder in Chipotle (CMG) and I am hoping to gain other shareholders opinions on the fundamental drivers of their revenue and net margin growth.

Accelerated digital adoption during the pandemic has significantly bolstered Chipotle's loyalty program, expected to sustain higher order frequency and lower customer churn rates. Chipotlanes, present in 25% of current store locations and in 80% of new openings, are poised to enhance competitive positioning against quick-service rivals and facilitate expansion into new markets.

I believe that Chipotle will open 300 new stores in 2024, and my model projects high-single-digit unit growth through 2033 (8.5%), leveraging robust unit economics (with estimated cash-on-cash returns currently in the 50%-60% range, compared to midteens to low 20s for QSR peers) and strong cash flow generation.

I personally consider management's long-term goal of reaching 7,000 US restaurants feasible, fueled by strong adoption in smaller and rural markets, as well as significant digital sales volumes acting as primary growth drivers.

What are your thoughts - can Chipotle go from 3,200 stores to 7,000 stores in the next 5 years?