Cava Group vs Sweetgreen
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The short version
- Cava Group is the larger business, with $1.2B of revenue in fiscal 2025 against $680M for Sweetgreen, about 1.7 times as much.
- Cava Group grew revenue faster (22.4%, against 0.4%).
- Cava Group kept more of each dollar of sales as operating profit (4.7% operating margin, against β20.5%).
- Cava Group turned more of its sales into free cash flow (2.2% FCF margin, against β17.5%).
- Cava Group earned a higher return on the capital invested in it (13.9%, against β44.2%).
- Investors pay more for each dollar of Sweetgreenβs earnings: a P/E of 98.2x against 97.2x for Cava Group.
| Latest fiscal year | CAVA Β· FY25 | SG Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $6.3B | $1.2B |
| Revenue | $1.2B | $680M |
| Free cash flow | $26.1M | β$119M |
| Net income | $63.7M | β$134M |
| Growth | ||
| Revenue growth | 22.4% | 0.4% |
| 5-year growth | β | 25.2% |
| Share count change | 0.0% | 3.2% |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | 4.7% | β20.5% |
| Net margin | 5.4% | β19.7% |
| FCF margin | 2.2% | β17.5% |
| Return on capital | 13.9% | β44.2% |
| Return on equity | 8.6% | β33.4% |
| Balance sheet | ||
| Net debt | β$393M | β$89.2M |
| Net debt / EBITDA | β3.1x | β |
| Dividends and buybacks | $0.0M | $0.0M |
| Valuation & quality | ||
| P/E | 97.2x | 98.2x |
| Piotroski F-score | 4 | 2 |
Revenue
FY20
CAVA β
SG $221M
FY21
CAVA $500M
SG $340M
FY22
CAVA $564M
SG $470M
FY23
CAVA $729M
SG $584M
FY24
CAVA $964M
SG $677M
FY25
CAVA $1.2B
SG $680M
CAVA
SG
Operating margin
FY20
CAVA β
SG β64.2%
FY21
CAVA β10.6%
SG β39.5%
FY22
CAVA β10.6%
SG β41.1%
FY23
CAVA 0.7%
SG β21.0%
FY24
CAVA 4.5%
SG β14.1%
FY25
CAVA 4.7%
SG β20.5%
CAVA
SG
Free cash flow
FY20
CAVA β
SG β$139M
FY21
CAVA β$52.9M
SG β$149M
FY22
CAVA β$98.1M
SG β$140M
FY23
CAVA β$41.7M
SG β$63.2M
FY24
CAVA $52.9M
SG β$41.1M
FY25
CAVA $26.1M
SG β$119M
CAVA
SG
Return on capital
FY20
CAVA β
SG β
FY21
CAVA β
SG β
FY22
CAVA β
SG β78.2%
FY23
CAVA β
SG β44.4%
FY24
CAVA 15.2%
SG β33.1%
FY25
CAVA 13.9%
SG β44.2%
CAVA
SG
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.