The company maintains a stable financial structure with a debt-to-equity ratio of 0.62, supporting an asset base that has expanded to $1.4B as of 2026Q1.
| Total Current Assets | 444.7M | 431.07M | 394.15M | 354.91M | 58.15M | 154.39M |
| Cash & Short-Term Investments | 402.96M | 393.03M | 366.12M | 332.43M | 39.13M | 140.33M |
| Cash Only | 295.77M | 282.92M | 366.12M | 332.43M | 39.13M | 140.33M |
| Short-Term Investments | 107.19M | 110.11M | 0 | 0 | 0 | 0 |
| Accounts Receivable | 20.7M | 18.99M | 13M | 11.88M | 7.74M | 6.06M |
| Days Sales Outstanding | 5.21 | 5.88 | 4.92 | 5.95 | 5 | 4.42 |
| Inventory | 9.26M | 9.02M | 7.6M | 5.64M | 5.14M | 3.64M |
| Days Inventory Outstanding | 3.04 | 3.42 | 3.84 | 3.75 | 4.02 | 3.18 |
| Other Current Assets | 11.78M | 10.04M | 7.44M | 4.96M | 0 | 0 |
| Total Non-Current Assets | 978.23M | 928.95M | 775.56M | 628.85M | 525.73M | 207.8M |
| Property, Plant & Equipment | 896.08M | 846.92M | 694.73M | 620.18M | 516.86M | 194.94M |
| Fixed Asset Turnover | 1.54x | 1.39x | 1.39x | 1.17x | 1.09x | 2.57x |
| Goodwill | 1.94M | 1.94M | 1.94M | 1.94M | 1.94M | 1.94M |
| Intangible Assets | 1.76M | 1.78M | 1.4M | 1.35M | 1.38M | 7.3M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 19.36M | 12.92M | 5.95M | 5.37M | 5.55M | 3.61M |
| Total Assets | 1.42B | 1.36B | 1.17B | 983.76M | 583.88M | 362.19M |
| Asset Turnover | 0.95x | 0.87x | 0.82x | 0.74x | 0.97x | 1.38x |
| Asset Growth % | 78.94% | 16.27% | 18.9% | 68.49% | 61.21% | - |
| Total Current Liabilities | 167.52M | 162.66M | 132.64M | 109.04M | 84.32M | 51.73M |
| Accounts Payable | 33.33M | 37.49M | 25.57M | 17.23M | 14.31M | 13.97M |
| Days Payables Outstanding | 11.81 | 14.21 | 12.93 | 11.47 | 11.21 | 12.21 |
| Short-Term Debt | 53.04M | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 47.96M | 0 | 0 | 0 | 0 | 0 |
| Current Ratio | 2.65x | 2.65x | 2.97x | 3.25x | 0.69x | 2.98x |
| Quick Ratio | 2.60x | 2.59x | 2.91x | 3.20x | 0.63x | 2.91x |
| Cash Conversion Cycle | -3.57 | -4.92 | -4.17 | -1.77 | -2.18 | -4.6 |
| Total Non-Current Liabilities | 445.44M | 417.71M | 341.47M | 303.92M | 948.07M | 703.49M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 1.65B | 417.71M | 341.47M | 303.62M | 285.19M | 15.34M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 79K | 28K | 23K |
| Other Non-Current Liabilities | 0 | 0 | 0 | 225K | 662.85M | 688.12M |
| Total Liabilities | 612.96M | 580.37M | 474.1M | 412.95M | 1.03B | 755.22M |
| Total Debt | 498.49M | 466.25M | 378.71M | 336.2M | 314.73M | 15.34M |
| Net Debt | 202.72M | 183.33M | 12.59M | 3.77M | 275.61M | -124.99M |
| Debt / Equity | 0.62x | 0.60x | 0.54x | 0.59x | - | - |
| Debt / EBITDA | 2.92x | 3.05x | 3.66x | 6.45x | - | - |
| Net Debt / EBITDA | 1.19x | 1.20x | 0.12x | 0.07x | - | - |
| Interest Coverage | - | - | - | - | -314.40x | -6.75x |
| Total Equity | 809.97M | 779.66M | 695.57M | 570.8M | -448.5M | -393.02M |
| Equity Growth % | 74.46% | 12.09% | 21.86% | 227.27% | -14.12% | - |
| Book Value per Share | 6.85 | 6.61 | 5.88 | 9.00 | -337.73 | -536.91 |
| Total Shareholders' Equity | 809.97M | 779.66M | 695.57M | 570.8M | -448.5M | -393.02M |
| Common Stock | 12K | 12K | 12K | 11K | 0 | 0 |
| Retained Earnings | -230.03M | -253.6M | -317.34M | -447.66M | -460.94M | -402.53M |
| Treasury Stock | -34.38M | -34.38M | -34.38M | -9.73M | -6.62M | -5.71M |
| Accumulated OCI | -22K | 118K | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
Capital intensive expansion cycle
According to the latest quarterly balance sheet data, CAVA has expanded its total assets from $983.8M in 2023Q4 to $1.4B in 2026Q1, reflecting a consistent commitment to aggressive footprint growth that appears to be driving the company's long-term competitive positioning within the fast-casual restaurant sector.
The steady increase in total assets, primarily driven by growth in net property, plant, and equipment, suggests that the company is successfully transitioning from its legacy conversion phase to a more capital-intensive greenfield development model. Investors should monitor whether this asset accumulation continues to yield commensurate improvements in unit-level productivity as the store count increases.
As reported in financial statements, CAVA maintains a debt-to-equity ratio of 0.62 as of 2026Q1, a figure that has remained remarkably stable despite the company's rapid expansion, suggesting that management is utilizing debt strategically to fund infrastructure without over-leveraging the underlying equity base of the business.
The current leverage profile appears manageable, particularly given the company's ability to maintain a healthy liquidity buffer while scaling its operations. This moderate debt load implies that the company retains sufficient financial flexibility to navigate potential macroeconomic headwinds or unexpected spikes in development costs without immediate refinancing pressure.
Based on the provided figures, net property, plant, and equipment have grown to $896.1M in 2026Q1, representing the vast majority of the company's asset base and underscoring the highly capital-intensive nature of CAVA's vertically integrated, store-heavy business model compared to more asset-light restaurant concepts.
The concentration of capital in physical assets highlights the importance of maintaining high average unit volumes to justify the ongoing investment in new locations. This asset mix warrants close observation, as any sustained decline in store-level performance could lead to significant impairment risks or a reduction in the company's overall return on invested capital.
According to recent balance sheet filings, CAVA held $295.8M in cash as of 2026Q1, maintaining a current ratio of 2.65, which indicates a strong liquidity position that provides a meaningful cushion against short-term operational volatility and the ongoing cash requirements of its aggressive store opening schedule.
The company's ability to sustain a current ratio well above 2.0 suggests that liquidity is not currently a constraint on growth, allowing management to prioritize long-term expansion over short-term cash preservation. This liquidity profile appears to be a deliberate strategy to ensure operational continuity during the current phase of rapid geographic scaling.
As indicated by the company's financial records, the retained earnings balance remains negative at -$230.0M in 2026Q1, a trend that reflects the significant historical costs associated with the Zoës Kitchen conversion and the ongoing investment required to establish a national footprint in the competitive fast-casual market.
While the negative retained earnings position is typical for a high-growth company in its scaling phase, it highlights the reliance on external capital and equity issuance to fund operations. Investors should look for a narrowing of this deficit as the company achieves greater economies of scale and matures its newer restaurant locations.
Quick answers to the most common questions about buying CAVA stock.
As of 2025, CAVA Group, Inc. (CAVA) had total assets of $1.36B including $431.1M in current assets.
CAVA Group, Inc. (CAVA) carries total debt of $466.2M, offset by $393.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
CAVA Group, Inc. (CAVA) has total shareholders' equity (book value) of $779.7M ($6.61 book value per share). Book value represents the net worth of the company belonging to common stock holders.
CAVA Group, Inc. (CAVA) reported a current ratio of 2.65x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.