Latest Ratios: P/E Ratio 154.4x · EV/EBITDA 64.7x · ROE 8.6%. (2021–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Market Cap | $9.7B | $7.1B | $13.5B | $2.7B | — | — |
| Enterprise Value | $9.9B | $7.3B | $13.5B | $2.7B | — | — |
| P/E Ratio → | 154.44 | 111.39 | 103.97 | 204.67 | — | — |
| P/S Ratio | 8.23 | 6.02 | 14.04 | 3.74 | — | — |
| P/B Ratio | 12.62 | 9.11 | 19.45 | 4.78 | — | — |
| P/FCF | 371.60 | 271.56 | 255.73 | — | — | — |
| P/OCF | 52.55 | 38.41 | 84.00 | 28.08 | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| EV / Revenue | — | 6.17 | 14.05 | 3.75 | — | — |
| EV / EBITDA | 64.69 | 47.59 | 130.85 | 52.36 | — | — |
| EV / EBIT | 124.74 | 102.86 | 222.14 | 86.91 | — | — |
| EV / FCF | — | 278.57 | 255.96 | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Gross Margin | 18.4% | 18.4% | 25.1% | 24.7% | 17.4% | 16.4% |
| Operating Margin | 6.7% | 6.7% | 4.5% | 0.6% | -10.6% | -10.5% |
| Net Profit Margin | 5.4% | 5.4% | 13.5% | 1.8% | -10.5% | -7.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| ROE | 8.6% | 8.6% | 20.6% | 21.7% | — | — |
| ROA | 5.0% | 5.0% | 12.1% | 1.7% | -12.5% | -10.3% |
| ROIC | 7.1% | 7.1% | 5.0% | 1.8% | — | — |
| ROCE | 7.1% | 7.1% | 4.5% | 0.7% | -14.8% | -17.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Debt / Equity | 0.60 | 0.60 | 0.54 | 0.59 | — | — |
| Debt / EBITDA | 3.05 | 3.05 | 3.66 | 6.45 | — | — |
| Net Debt / Equity | — | 0.24 | 0.02 | 0.01 | — | — |
| Net Debt / EBITDA | 1.20 | 1.20 | 0.12 | 0.07 | — | — |
| Debt / FCF | — | 7.01 | 0.24 | — | — | — |
| Interest Coverage | — | — | — | — | -314.40 | -6.75 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 2.65 | 2.65 | 2.97 | 3.25 | 0.69 | 2.98 |
| Quick Ratio | 2.59 | 2.59 | 2.91 | 3.20 | 0.63 | 2.91 |
| Cash Ratio | 2.42 | 2.42 | 2.76 | 3.05 | 0.46 | 2.71 |
| Asset Turnover | — | 0.87 | 0.82 | 0.74 | 0.97 | 1.38 |
| Inventory Turnover | 106.78 | 106.78 | 94.99 | 97.28 | 90.71 | 114.72 |
| Days Sales Outstanding | — | 5.88 | 4.92 | 5.95 | 5.00 | 4.42 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Earnings Yield | 0.6% | 0.9% | 1.0% | 0.5% | — | — |
| FCF Yield | 0.3% | 0.4% | 0.4% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $118M | $118M | $63M | $1M | $732000 |
High valuation multiple sensitivity
Based on current market data, CAVA trades at a forward P/E of 150.57 and an EV/EBITDA of 64.69, suggesting that investors are pricing in aggressive long-term unit expansion and margin expansion that significantly outpaces the broader restaurant sector's historical valuation norms for similar growth-stage companies.
The valuation appears to imply a high degree of confidence in the company's ability to scale its Mediterranean concept nationally while maintaining premium pricing power. Investors should monitor whether the current P/S ratio of 8.23 can be sustained as the company transitions from conversion-led growth to more capital-intensive greenfield development.
According to quarterly financial reports, CAVA's ROIC has hovered between 0.7% and 2.6% over the last year, indicating that the company is currently in a phase where heavy reinvestment into new store infrastructure is suppressing the immediate compounding of returns on invested capital.
The modest ROIC figures suggest that the business is still in the early stages of its lifecycle, where the cost of building out a national footprint outweighs the current cash-on-cash returns from mature locations. Future improvement in this metric will likely depend on the company's ability to drive higher AUVs and optimize labor productivity across its expanding fleet.
As reported in recent filings, CAVA maintains a negative cash conversion cycle, consistently ranging between -2 and -4 days, which demonstrates that the company effectively utilizes its scale to collect from customers well before it is required to settle obligations with its food and packaging suppliers.
This negative CCC is a hallmark of a high-volume restaurant model and provides a structural advantage by essentially allowing the company to operate on interest-free financing from its supply chain. This efficiency is critical for managing the cash requirements of rapid expansion without needing to rely heavily on external debt financing.
The P/E ratio is frequently misapplied to CAVA's business model, as it obscures the significant impact of non-cash charges and aggressive pre-opening expenses that artificially depress current earnings, making the company appear far more expensive than its underlying cash-generating capacity would suggest to a fundamental analyst.
Investors should instead focus on Restaurant-Level Operating Profit (RLOP) and free cash flow margins to gauge the true earning power of the store fleet. Relying on P/E in a high-growth, capital-intensive phase risks missing the underlying operational progress that is currently being masked by the accounting costs of rapid expansion.
Includes 30+ ratios · 5 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying CAVA stock.
CAVA Group, Inc.'s current P/E ratio is 154.4x. The historical average is 107.7x. This places it at the 100th percentile of its historical range.
CAVA Group, Inc.'s current EV/EBITDA is 64.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 50.0x.
CAVA Group, Inc.'s return on equity (ROE) is 8.6%. The historical average is 17.0%.
Based on historical data, CAVA Group, Inc. is trading at a P/E of 154.4x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
CAVA Group, Inc. has 18.4% gross margin and 6.7% operating margin.
CAVA Group, Inc.'s Debt/EBITDA ratio is 3.0x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.