CAVA GROUP, INC.

Listed Company

CAVACIK 0001639438NYSELarge AcceleratedRetail-Eating PlacesDelawareFY ends Dec 27

Period

FY 2025

Revenue

$1.18B

Net Income

$63.74M

Total Assets

$1.36B

Equity

$779.66M

Shares Out

116.38M

Op. Cash Flow

$184.84M

Business

CAVA GROUP, INC. operates a fast-casual restaurant business focused on authentic Mediterranean cuisine that combines taste and health. It offers chef‑curated and customizable bowls and pitas, along with centrally produced consumer packaged goods such as dips, spreads, and dressings sold in grocery channels. The company organizes operations across restaurant operations (including digital and hybrid kitchens), vertically integrated manufacturing and distribution facilities, and support functions like its Collaboration Center. CAVA distributes through multi-channel U.S. operations including in‑restaurant dining, digital pick‑up, drive‑thru, delivery, catering, and retail CPG distribution.

Summary from filing dated 2025-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	1,180	964	729	564	500
Food, beverage, and packaging	353	285	213	180	155
Labor	302	247	187	158	143
Occupancy	84	70	58	54	49
Other operating expenses	151	120	89	75	70
Total restaurant operating expenses	889	722	548	466	418
General and administrative expenses	137	121	101	70	65
Depreciation and amortization	74	60	47	43	45
Restructuring and other costs	0	580,000	6	6	7
Pre-opening costs	19	12	16	19	8
Impairment and asset disposal costs	5	5	5	20	11
Total operating expenses	1,124	921	724	624	553
Income from operations	55	43	5	−60	−53
Interest income, net	−15	−16	−9	47,000	—
Other income, net	−469,000	−318,000	−471,000	−919,000	−20
Income before taxes	71	60	14	−59	−37
Provision for (benefit from) income taxes	7	−70	768,000	93,000	117,000
Net income	64	130	13	−59	−37
Basic (in usd per share)	0.55	1.14	0.22	−44.41	−51.06
Diluted (in usd per share)	0.54	1.1	0.21	−44.41	−51.06
Basic (in shares)	116	114	61	1	732,000
Diluted (in shares)	118	118	63	1	732,000

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	283	366	332	39	—
Trade accounts receivable, net	6	5	4	3	—
Other accounts receivable	13	8	8	5	—
Investments at fair value (amortized cost of $109,951)	110	0	—	—	—
Inventories	9	8	6	5	—
Prepaid expenses and other	10	7	5	6	—
Total current assets	431	394	355	58	—
Property and equipment, net	458	373	331	243	—
Operating lease assets	389	322	289	274	—
Goodwill	2	2	2	2	—
Intangible assets, net	2	1	1	1	—
Deferred income taxes	65	72	0	—	—
Other long-term assets	13	6	5	6	—
Total assets	1,360	1,170	984	584	—
Accounts payable	37	26	17	14	—
Accrued expenses and other	77	70	59	40	—
Operating lease liabilities, current	49	37	33	30	—
Total current liabilities	163	133	109	84	—
Operating lease liabilities	418	341	304	285	—
Total liabilities	580	474	413	370	—
Commitments and Contingencies (Note 10)	—	—	—	—	—
Common stock, par value $0.0001 per share; 2,500,000 authorized; 116,127 and 115,093 issued and outstanding, respectively	12,000	12,000	11,000	0	—
Treasury stock, at cost; 1,431 shares	−34	−34	−10	−7	—
Additional paid-in capital	1,068	1,047	1,028	19	—
Accumulated deficit	−254	−317	−448	−461	—
Accumulated other comprehensive income	118,000	0	—	—	—
Total stockholders equity	780	696	571	−449	−393
Total liabilities and stockholders equity	1,360	1,170	984	584	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Unrealized gain on convertible promissory note	−291,000	0	0	—	—
Equity-based compensation	15	14	9	4	5
Deferred income taxes	6	−72	50,000	5,000	—
Trade accounts receivable	−2	−1	−835,000	−50,000	453,000
Other accounts receivable	−4	26,000	−3	−2	−1
Inventories	−1	−2	−498,000	−1	−1
Prepaid expenses and other	−5	−3	60,000	−318,000	−1
Operating lease assets	−68	−32	−21	−34	0
Accounts payable	9	9	3	336,000	−555,000
Accrued expenses and other	5	11	19	−3	1
Operating lease liabilities	88	43	26	39	0
Net cash provided by operating activities	185	161	97	6	3
Purchases of property and equipment	−159	−108	−139	−104	−56
Purchases of debt securities	−135	0	0	—	—
Investment in convertible promissory note	−5	0	0	—	—
Proceeds from principal payments on debt securities	25	0	0	—	—
Net cash used in investing activities	−273	−108	−139	−104	−56
Proceeds from long-term debt	0	0	6	0	0
Payments on long-term debt	0	0	−6	0	0
Tax withholding on equity-based compensation awards	0	−25	−3	−911,000	—
Shares purchased under equity plans	5	5	1	37,000	7
Proceeds from initial public offering, net of underwriting fees of $22.8 million	0	0	343	0	0
Offering costs paid	0	0	−5	−1	0
Payment of loan acquisition fees	0	0	−372,000	−986,000	0
Payments on finance lease obligations	0	−45,000	−85,000	−115,000	—
Net cash provided by (used in) financing activities	5	−19	335	−3	143
Net change in cash and cash equivalents	−83	34	293	−101	90
Cash paid for fees and interest related to long-term debt	164,000	211,000	330,000	161,000	768,000
Cash paid for income taxes	2	3	116,000	523,000	212,000
Change in accrued purchases of property and equipment	4	−986,000	584,000	5	—
Conversion of redeemable preferred stock into common stock in connection with initial public offering	0	0	662	0	0

Filings

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