Chipotle's over $400! That was my first thought yesterday when I was looking for stocks that have doubled in the last two years. Chipotle has grown from low $120's back in mid 2010, to a high of $443 in April 13, 2012.

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Considering the fact that CMG is a burrito fast food chain, its growth is very surprising. With a P/E ratio of over 50 it is one of the highest, if not the highest in its peer class.

Using only P/E ratio, we can think that the stock is overvalued, but I prefer to use one more valuation technique before arriving at that conclusion. I decided to do a Free Cash Flow analysis on CMG to see if it's Free Cash Flow confirms its stock price.