The company's financial position appears strained as the debt-to-equity ratio climbed to 0.73 in 2026Q1, while accumulated deficits have ballooned to $883.6M.
| Total Current Assets | 175.31M | 129.66M | 234.54M | 276.11M | 346.15M | 506.66M | 115.86M | 261.58M |
| Cash & Short-Term Investments | 156.8M | 89.18M | 214.79M | 257.23M | 331.61M | 471.97M | 102.64M | 249.26M |
| Cash Only | 156.8M | 89.18M | 214.79M | 257.23M | 331.61M | 471.97M | 102.64M | 249.26M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 7.04M | 5.17M | 5.13M | 3.6M | 3.34M | 19.86M | 6.99M | 5.32M |
| Days Sales Outstanding | 3.5 | 2.78 | 2.76 | 2.25 | 2.59 | 21.33 | 11.57 | 7.08 |
| Inventory | 2.59M | 2.38M | 1.99M | 2.07M | 1.38M | 903K | 620K | 831K |
| Days Inventory Outstanding | 1.48 | 1.51 | 1.33 | 1.57 | 1.26 | 1.1 | 0.99 | 1.32 |
| Other Current Assets | 8.89M | 32.93M | 4.79M | 7.45M | 1.65M | 155K | 218K | 57K |
| Total Non-Current Assets | 737.38M | 658.45M | 622.22M | 580.45M | 562.79M | 255.99M | 149.82M | 124.84M |
| Property, Plant & Equipment | 604.13M | 611.17M | 553.98M | 510.89M | 489.32M | 180.67M | 127.21M | 107.78M |
| Fixed Asset Turnover | 1.13x | 1.11x | 1.22x | 1.14x | 0.96x | 1.88x | 1.73x | 2.54x |
| Goodwill | 27.79M | 27.79M | 35.97M | 35.97M | 35.97M | 35.97M | 6.28M | 6.28M |
| Intangible Assets | 10.24M | 10.42M | 24.04M | 27.41M | 30.56M | 32.87M | 10.94M | 5.72M |
| Long-Term Investments | 90.56M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 8.78M | 9.06M | 8.23M | 6.17M | 6.94M | 6.49M | 5.4M | 5.06M |
| Total Assets | 912.69M | 788.1M | 856.76M | 856.56M | 908.93M | 762.65M | 265.68M | 386.42M |
| Asset Turnover | 0.80x | 0.86x | 0.79x | 0.68x | 0.52x | 0.45x | 0.83x | 0.71x |
| Asset Growth % | -5.67% | -8.01% | 0.02% | -5.76% | 19.18% | 187.05% | -31.25% | - |
| Total Current Liabilities | 109.13M | 118.65M | 115.83M | 91.58M | 72.55M | 47.53M | 36.32M | 32.92M |
| Accounts Payable | 17.43M | 19.89M | 18.7M | 17.38M | 12.24M | 11.2M | 6.23M | 8.32M |
| Days Payables Outstanding | 11.6 | 12.6 | 12.55 | 13.16 | 11.15 | 13.65 | 9.92 | 13.2 |
| Short-Term Debt | 42.23M | 41.59M | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 14.14M | 0 | 4.41M | 2.8M | 2.02M | 1.84M | 2.34M | 3.47M |
| Other Current Liabilities | 49.48M | 57.18M | 9.66M | 6M | 1.73M | 8.61M | 8.22M | 1.93M |
| Current Ratio | 1.61x | 1.09x | 2.02x | 3.02x | 4.77x | 10.66x | 3.19x | 7.95x |
| Quick Ratio | 1.58x | 1.07x | 2.01x | 2.99x | 4.75x | 10.64x | 3.17x | 7.92x |
| Cash Conversion Cycle | -6.62 | -8.32 | -8.45 | -9.34 | -7.3 | 8.79 | 2.64 | -4.8 |
| Total Non-Current Liabilities | 314.63M | 313.33M | 294.79M | 282.38M | 295.16M | 62M | 536.73M | 526.7M |
| Long-Term Debt | 313.87M | 312.9M | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 613.52M | 0 | 288.94M | 271.44M | 271.1M | 0 | 0 | 0 |
| Deferred Tax Liabilities | 2.08M | 274K | 361K | 1.77M | 1.41M | 125K | 0 | 0 |
| Other Non-Current Liabilities | 137K | 149K | 5.48M | 9.17M | 22.65M | 61.88M | 536.73M | 526.7M |
| Total Liabilities | 423.76M | 431.98M | 410.61M | 373.96M | 367.71M | 109.53M | 573.04M | 559.62M |
| Total Debt | 356.09M | 354.49M | 330.71M | 302.87M | 300.74M | 0 | 0 | 0 |
| Net Debt | 199.29M | 265.32M | 115.92M | 45.63M | -30.88M | -471.97M | -102.64M | -249.26M |
| Debt / Equity | 0.73x | 1.00x | 0.74x | 0.63x | 0.56x | - | - | - |
| Debt / EBITDA | -6.91x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | -3.87x | - | - | - | - | - | - | - |
| Interest Coverage | -2994.60x | -7052.63x | -357.10x | -881.85x | -2277.27x | -1757.94x | -348.56x | -770.78x |
| Total Equity | 488.93M | 356.13M | 446.14M | 482.6M | 541.23M | 653.12M | -307.36M | -173.19M |
| Equity Growth % | -32.27% | -20.18% | -7.55% | -10.83% | -17.13% | 312.49% | -77.47% | - |
| Book Value per Share | 4.07 | 3.02 | 3.90 | 4.31 | 4.91 | 6.00 | -3.51 | -1.60 |
| Total Shareholders' Equity | 488.93M | 356.13M | 446.14M | 482.6M | 541.23M | 653.12M | -307.36M | -173.19M |
| Common Stock | 119K | 118K | 117K | 113K | 111K | 109K | 17K | 15K |
| Retained Earnings | -883.61M | -1.01B | -875.36M | -784.99M | -671.6M | -476.22M | -323.04M | -181.82M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Liquidity and solvency pressure
As reported in recent financial statements, Sweetgreen's equity base has experienced significant volatility, declining from $482.6M in 2023Q4 to $488.9M in 2026Q1, while accumulated deficits ballooned to $883.6M, signaling a persistent inability to retain earnings and strengthen the balance sheet through core operational success.
The trajectory of the balance sheet suggests a business model that remains heavily reliant on external capital to offset structural losses. The consistent expansion of the accumulated deficit indicates that the company has yet to reach a sustainable inflection point where operations can self-fund growth.
Based on the company's reported figures, the current ratio has compressed sharply from 3.02 in 2023Q4 to 1.61 in 2026Q1, reflecting a rapid depletion of liquid assets as cash reserves fell from $257.2M to $156.8M over the same period, warranting close monitoring of near-term solvency.
The narrowing liquidity buffer suggests that the company's ability to absorb operational shocks is weakening. Investors should consider whether the current cash position is sufficient to support the ongoing capital-intensive rollout of automation technology without requiring further dilutive financing.
According to SEC filings, net property, plant, and equipment (PPE) has grown to $604.1M as of 2026Q1, representing the vast majority of total assets, which underscores the company's asset-heavy strategy and the significant capital commitment required to maintain its physical and automated store footprint.
The concentration of assets in PPE highlights the high barrier to entry but also the significant depreciation risk associated with the 'Infinite Kitchen' hardware. This asset mix implies that the company's future performance is inextricably linked to the successful utilization and longevity of these physical investments.
As indicated by quarterly balance sheet data, the debt-to-equity ratio has climbed from 0.63 in 2023Q4 to 0.73 in 2026Q1, reflecting a reliance on debt financing to sustain operations as the company continues to navigate a period of negative profitability and high capital expenditure requirements.
The increase in leverage, coupled with persistent net losses, suggests that the company is utilizing debt to bridge the gap between its ambitious expansion plans and its current cash-generating capacity. This trend warrants investigation into the company's long-term debt serviceability and potential refinancing risks.
Quick answers to the most common questions about buying SG stock.
As of 2025, Sweetgreen, Inc. (SG) had total assets of $788.1M including $129.7M in current assets.
Sweetgreen, Inc. (SG) carries total debt of $354.5M, offset by $89.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Sweetgreen, Inc. (SG) has total shareholders' equity (book value) of $356.1M ($3.02 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Sweetgreen, Inc. (SG) reported a current ratio of 1.09x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.