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Sunday 1 November 2026
Export CAVA’s income statement to Excel — free account
CAVA Group, Inc.
CAVA Consumer Cyclical Restaurants
CAVA Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.2 billion, up 22.4% from fiscal 2024.
- Revenue
- +31.3%
- EPS
- +25.0%
- Free cash flow
- +52.6%
Quarter to June 2026, against a year earlier
58.74
0.47
−0.79%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | 500 | 564 | 729 | 964 | 1,180 | 1,374 | +23.9% | 1,502 | 1,815 | 2,193 | +23.0% | |
| Gross margin, % | — | — | — | — | — | 40.38 | 40.11 | 45.00 | 44.77 | 44.51 | 44.52 | +4.1 pt | ||||||
| EBT | — | — | — | — | — | (37) | (59) | 14 | 60 | 71 | 87 | n/m | ||||||
| EBT margin, % | — | — | — | — | — | (7.45) | (10.44) | 1.93 | 6.22 | 6.00 | 6.36 | +13.5 pt | ||||||
| Net income | — | — | — | — | — | (37) | (59) | 13 | 130 | 64 | 66 | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | 683.16 | 424.79 | 12.04 | 8.43 | 10.19 | 11.78 | (65.1%) | |||||
| Earnings | — | — | — | — | — | (51.08) | (44.42) | 0.22 | 1.14 | 0.55 | 0.57 | n/m | ||||||
| Cash flow | — | — | — | — | — | 4.64 | 4.55 | 1.60 | 1.41 | 1.60 | 1.89 | (23.4%) | ||||||
| Capex | — | — | — | — | — | (76.92) | (78.43) | (2.29) | (0.95) | (1.37) | (1.47) | (63.5%) | ||||||
| Free cash flow | — | — | — | — | — | (72.29) | (73.89) | (0.69) | 0.46 | 0.23 | 0.42 | n/m | ||||||
| Book value | — | — | — | — | — | (536.91) | (337.73) | 9.43 | 6.09 | 6.73 | 7.21 | n/m | ||||||
| Shares, m | — | — | — | — | — | 1 | 1 | 61 | 114 | 116 | 116 | +254.7% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | 0.00 | 0.00 | 140.93 | 98.95 | 106.71 | 102.65 | 69.3 | |||||
| P/S | — | — | — | — | — | 7.22 | 7.22 | 3.39 | 13.38 | 5.76 | 4.97 | 7.4 | ||||||
| P/B | — | — | — | — | — | 0.00 | 0.00 | 4.33 | 18.53 | 8.72 | 8.11 | 6.3 | ||||||
| EV/Sales | — | — | — | — | — | 7.21 | 7.21 | 2.96 | 13.01 | 5.44 | 4.66 | 7.2 | ||||||
| EV/FCF | — | — | — | — | — | (78.36) | (78.36) | (51.70) | 237.09 | 245.55 | 130.60 | 54.8 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | 3 | 6 | 97 | 161 | 185 | 220 | +171.7% | |||||
| Capex | — | — | — | — | — | (56) | (104) | (139) | (108) | (159) | (171) | +29.6% | ||||||
| Free cash flow | — | — | — | — | — | (53) | (98) | (42) | 53 | 26 | 49 | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | 103 | (26) | 246 | 262 | 268 | 287 | +27.2% | |||||
| Net debt | — | — | — | — | — | (125) | (39) | (332) | (366) | (393) | (436) | +33.2% | ||||||
| Shareholders’ equity | — | — | — | — | — | (393) | (449) | 571 | 696 | 780 | 841 | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | 0.00 | (12.47) | 1.69 | 12.10 | 5.04 | 4.75 | +5.0 pt | |||||
| ROIC | — | — | — | — | — | 0.00 | 0.00 | 1.24 | 8.18 | 8.94 | 11.10 | +8.9 pt | ||||||
| ROE | — | — | — | — | — | 0.00 | 14.02 | 21.72 | 20.58 | 8.64 | 8.32 | +8.6 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | — | — | — | — | — | — | |||||
| Revenue/emp, $m | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026
Business profile
Where the money comes from and where it goes Fiscal 2025
| CAVA Revenue | 1,169 | 99.12% |
|---|---|---|
| Other, not broken out | 10 | 0.88% |
| Gross margin | 44.51% | |
| Operating margin | 4.69% | |
| Pre-tax margin | 6.00% |
CAVA Group, Inc. vs peers in Restaurants (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| YUMC Yum China | $15.5B | 16.7× | 15.5× | +12.59% (above 0%: growing) | +20.69% (above 0%: growing) | +3.10% (above 0%: growing) | 22.21% | 11.09% | Compare |
| TXRH Texas Roadhouse, Inc. | $12.0B | 29.1× | 28.0× | +11.11% (above 0%: growing) | −0.53% (below 0%: shrinking) | +120.59% (above 0%: growing) | 16.80% | 8.50% | Compare |
| DPZ Domino's Pizza Inc | $10.3B | 17.3× | 16.4× | +3.36% (above 0%: growing) | +12.90% (above 0%: growing) | −3.26% (below 0%: shrinking) | 40.18% | 20.39% | Compare |
| EAT Brinker International, Inc. | $9.1B | 18.9× | 15.7× | +5.06% (above 0%: growing) | +27.80% (above 0%: growing) | +48.74% (above 0%: growing) | 18.75% | 10.87% | Compare |
| BROS Dutch Bros Inc. | $7.7B | 59.6× | 51.6× | +32.48% (above 0%: growing) | +40.00% (above 0%: growing) | +11.97% (above 0%: growing) | 27.42% | 12.78% | Compare |
| CAVA CAVA Group, Inc. | $6.9B | 103× | 108× | +31.30% (above 0%: growing) | +25.00% (above 0%: growing) | +52.60% (above 0%: growing) | 44.93% | 7.29% | |
| JMKE Jersey Mike�s Subs Inc. | $6.0B | — | — | — | — | — | 100.00% | 42.31% | Compare |
| CAKE The Cheesecake Factory Incorporated | $5.6B | 29.3× | 24.0× | +7.72% (above 0%: growing) | +24.58% (above 0%: growing) | +220.39% (above 0%: growing) | 17.64% | 7.63% | Compare |
| WING Wingstop Inc. | $3.9B | 35.3× | 36.2× | +6.44% (above 0%: growing) | +19.79% (above 0%: growing) | −45.18% (below 0%: shrinking) | 86.49% | 29.44% | Compare |
| Median of peers | $8.4B | 29.1× | 24.0× | +7.72% | +20.69% | +11.97% | 24.81% | 11.94% |
From the latest earnings call
- CEO Brett Schulman said consumer concerns about the Cyclospora outbreak affected sales near the end of the quarter, but same-restaurant sales had begun to rebound.
- CFO Tricia Tolivar said CAVA maintained its full-year outlook, incorporating sales pressure from food safety concerns and assumptions about how long that pressure could last.
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
89.37%
Held by the ten largest
45.70%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| BlackRock | 9.65m | 8.26% | +77.95k |
| Vanguard | 9.50m | 8.14% | +74.41k |
| AllianceBernstein | 6.64m | 5.69% | −2.54m |
| Artal Group S.A. | 6.51m | 5.57% | −3.00m |
| Fidelity (FMR) | 5.53m | 4.73% | −383.01k |
| Capital Group | 4.52m | 3.87% | −6.35m |
| State Street | 3.10m | 2.65% | +92.63k |
| T. Rowe Price | 3.05m | 2.61% | −676.10k |
| Scotiabank (1832 Asset Management) | 2.53m | 2.16% | +1.01m |
| Franklin Templeton | 2.35m | 2.01% | −120.40k |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 24 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 3.86m | (40.88m) | 134.00 |
| 2024 | 1.92m | 80.15m | 255.00 |
| 2023 | 17.06m | 46.53m | 96.00 |
Ownership
Directors and executive officers, together
6.70%
Artal Participations S.a r.l
8.20%
The Vanguard Group
8.00%
BlackRock, Inc.
7.90%
Capital Research Global Investors
7.30%
AllianceBernstein L.P.
6.40%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
CAVA Group operates fast-casual restaurants serving Mediterranean-inspired food. Guests can order a chef-curated meal or build their own bowl or pita from a selection of ingredients. The menu accommodates a range of dietary preferences, including vegetarian, vegan, gluten-free and dairy-free diets.
The company also makes dips, spreads and certain dressing bases centrally for use in its restaurants. It sells dips, spreads and prepared dressings in grocery stores as consumer packaged goods, or CPG. Its manufacturing activities therefore support both restaurant meals and products sold for customers to take home.