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CAVA

CAVA Group, Inc.

CAVA

CAVA Group, Inc. • NYSE
$48.85 ▼ -1.60% (-0.80)
Market Cap $5.67 B
52w High $153.34
52w Low $43.41
Dividend Yield 0%
P/E 42.12
Volume 1.30M
Outstanding Shares 115.97M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $292.238M ▲ $93.456M ▲ $14.747M ▼ 5.046% ▼ $0.13 ▼ $38.294M ▼
Q2-2025 $280.615M ▼ $55.036M ▼ $18.368M ▼ 6.546% ▼ $0.16 ▼ $42.63M ▼
Q1-2025 $331.826M ▲ $68.353M ▲ $25.707M ▼ 7.747% ▼ $0.22 ▼ $42.669M ▲
Q4-2024 $227.395M ▼ $47.479M ▼ $78.619M ▲ 34.574% ▲ $0.69 ▲ $22.883M ▼
Q3-2024 $243.817M $48.879M $17.966M 7.369% $0.16 $32.817M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $387.685M ▲ $1.322B ▲ $552.965M ▲ $769.014M ▲
Q2-2025 $385.783M ▲ $1.292B ▲ $540.925M ▲ $750.709M ▲
Q1-2025 $369.267M ▲ $1.228B ▲ $502.189M ▲ $726.174M ▲
Q4-2024 $366.12M ▼ $1.17B ▲ $474.103M ▲ $695.566M ▲
Q3-2024 $367.16M $1.08B $463.102M $616.437M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $18.368M ▼ $60.318M ▲ $-61.583M ▲ $2.087M ▲ $822K ▲ $19.199M ▲
Q1-2025 $25.707M ▼ $38.577M ▲ $-115.836M ▼ $489K ▲ $-76.77M ▼ $2.702M ▲
Q4-2024 $78.619M ▲ $29.853M ▼ $-27.742M ▼ $-3.151M ▼ $-1.04M ▼ $2.111M ▼
Q3-2024 $17.966M ▼ $43.879M ▼ $-20.507M ▲ $40K ▲ $23.412M ▲ $23.372M ▲
Q2-2024 $19.741M $48.909M $-26.195M $-8.083M $14.631M $22.714M

Revenue by Products

Product Q2-2024Q3-2024Q1-2025Q2-2025
Restaurant Revenue
Restaurant Revenue
 $230.00M ▲$240.00M ▲$330.00M ▲$280.00M ▼

Five-Year Company Overview

Income Statement

Income Statement CAVA’s income statement shows a young growth company moving from “build mode” losses into early profitability. Sales have climbed steadily each year, and the business has shifted from operating losses to modest operating profits. Margins have improved meaningfully, suggesting better cost control, higher restaurant productivity, and stronger pricing power. Net income has moved from red to black and is now clearly positive, which is notable for a concept still in rapid expansion. The main watchpoints are whether these profit levels can hold as the company opens many new locations and faces normal restaurant pressures like food inflation and labor costs.

Balance Sheet

Balance Sheet The balance sheet looks like that of a fast-growing but increasingly solid restaurant chain. Total assets and shareholders’ equity have expanded sharply, indicating substantial investment in new restaurants and infrastructure, supported by growing owner capital. Cash balances are healthy and much higher than a few years ago, giving CAVA flexibility to fund growth without constantly relying on outside financing. Debt has increased but remains at a level that appears manageable relative to the size and trajectory of the business. The key question going forward is whether the company can keep its leverage and lease commitments at a comfortable level while pursuing national scale.

Cash Flow

Cash Flow CAVA’s cash flow profile has improved from “cash-burning growth” to “self-funding growth.” Operating cash flow is now solidly positive and rising, meaning the core restaurant operations are generating real cash, not just accounting profits. The company continues to spend heavily on new locations and infrastructure, but free cash flow has recently turned positive, which is a meaningful milestone for a fast-expanding concept. The risk is that a more aggressive build-out or a slowdown in same-store sales could swing free cash flow back into negative territory, so consistency of store performance will matter a lot.

Competitive Edge

Competitive Edge CAVA has carved out a strong competitive position as a leading Mediterranean fast-casual brand, sitting between traditional fast food and full-service dining. Its focus on health-oriented, customizable bowls and pitas fits well with current consumer trends toward fresh, flavorful, and perceived-better-for-you options. The brand benefits from a clear identity, loyal urban and suburban customers, and a menu that travels well for digital and delivery orders. Vertical integration in its dips and spreads gives it some cost and quality advantages versus copycat concepts. However, the restaurant industry is very crowded, with many emerging bowl and salad brands targeting the same health-conscious demographic, so CAVA must keep executing at a high level to defend its lead.

Innovation and R&D

Innovation and R&D Innovation is a core part of CAVA’s strategy rather than a side project. The “Connected Kitchen” and AI-powered tools for inventory and labor are designed to keep lines moving quickly and reduce waste, which directly supports margins. Digital order management and data-driven menu decisions help the company respond quickly to changing tastes and channel shifts (in-store versus delivery). Beyond the four walls, the consumer-packaged dips and spreads extend the brand into grocery aisles and reinforce awareness. The opportunity is significant if these technologies and new products scale well; the risk is that complexity grows faster than the organization’s ability to manage it, or that competitors adopt similar tools and narrow the tech advantage.

Summary

Overall, CAVA looks like an early-stage growth story that is maturing faster than many restaurant peers. The financials show a clear transition from loss-making expansion to profitable growth, backed by a healthier balance sheet and improving cash generation. Strategically, the company benefits from a differentiated Mediterranean concept, a strong brand, vertical integration, and meaningful investment in technology. At the same time, it operates in a highly competitive and economically sensitive industry where traffic, food costs, and labor dynamics can change quickly. Future performance will hinge on maintaining store-level economics as the footprint expands, successfully rolling out its technology and menu innovations at scale, and avoiding overextension as it pursues national reach.

NEWS

November 10, 2025 · 8:00 AM UTC

CAVA to Launch its Own Merch Store – The CAVA Shop – Where Flavor Fans Come to Dress the Part

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November 4, 2025 · 4:10 PM UTC

CAVA Group Reports Third Quarter 2025 Results

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October 21, 2025 · 4:30 PM UTC

CAVA to Announce Third Quarter 2025 Financial Results on November 4, 2025

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October 16, 2025 · 9:00 AM UTC

Fuel Up and Level Up: CAVA x Clix Launch Curated Menu Item, Gamified Rewards, and Epic PC Giveaway

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October 9, 2025 · 9:00 AM UTC

CAVA Brings Status Matching to the Table as an Industry First — Because Mediterranean Means More Rewards for CAVA Loyalty Members

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