CAVA Group, Inc. (CAVA) Balance Sheet
CAVA balance sheet, 2025
December 31, 2025 · U.S. dollars$1.36B assets = $580.4M liabilities + $779.7M equity
Both columns are drawn to the same scale: what CAVA owns equals what it owes plus shareholders’ equity. Hover a block for its value.
CAVA financial health
Descriptive bands, not a rating. Fiscal 2025.
CAVA balance sheet trends, 2019–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.46B2019 | $1.36B2025 | −1.1%/yr | |
| Total liabilities | $646.8M2019 | $580.4M2025 | −1.8%/yr | |
| Shareholders’ equity | $808.9M2019 | $779.7M2025 | −0.6%/yr | |
| Cash & short-term investments | $382.8M2019 | $393.0M2025 | +0.4%/yr | |
| Total debt | $460.5M2019 | $466.2M2025 | +0.2%/yr | |
| Net cash (debt) | −$77.7M2019 | −$73.2M2025 | +$4.5M | |
| Working capital | $313.8M2019 | $268.4M2025 | −$45.4M | |
| Book value per share | $19.262019 | $6.612025 | −16.3%/yr | |
| Current ratio | 4.842019 | 2.652025 | −2.19 | |
| Debt / equity | 0.572019 | 0.602025 | +0.03 | |
| Shares outstanding | 42.0M2019 | 118.0M2025 | +18.8%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CAVA assets
CAVA liabilities and equity
CAVA debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
CAVA balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $393.0M | $366.1M | $332.4M | $39.1M | $140.3M | $394.3M | $382.8M |
| Cash & equivalents | $282.9M | $366.1M | $332.4M | $39.1M | $140.3M | $394.3M | $382.8M |
| Short-term investments | $110.1M | $0 | — | — | — | — | — |
| Receivables | $19.0M | $13.0M | $11.9M | $7.7M | $6.1M | $400,000 | $1.1M |
| Inventory | $9.0M | $7.6M | $5.6M | $5.1M | $3.6M | $1 | $0 |
| Other current assets | $10.0M | $7.4M | $5.0M | $6.2M | $4.4M | $21.5M | $11.7M |
| Total current assets | $431.1M | $394.2M | $354.9M | $58.1M | $154.4M | $416.2M | $395.6M |
| Property, plant & equipment (net) | $846.9M | $694.7M | $620.2M | $516.9M | $194.9M | $4.7M | $2.4M |
| Goodwill & intangible assets | $3.7M | $3.3M | $3.3M | $3.3M | $9.2M | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $78.3M | $77.4M | $5.4M | $5.5M | $3.6M | $1.32B | $1.06B |
| Total assets | $1.36B | $1.17B | $983.8M | $583.9M | $362.2M | $1.74B | $1.46B |
| Liabilities | |||||||
| Accounts payable | $37.5M | $25.6M | $17.2M | $14.3M | $14.0M | $29.2M | $16.8M |
| Short-term debt | $48.5M | $37.2M | $32.6M | $29.5M | $0 | — | — |
| Total current liabilities | $162.7M | $132.6M | $109.0M | $84.3M | $51.7M | $108.3M | $81.8M |
| Long-term debt | $0 | $341.5M | $303.6M | $285.2M | $15.3M | $0 | $0 |
| Lease obligations | $466.2M | $378.7M | $336.2M | $314.7M | $15.3M | — | — |
| Other long-term liabilities | $417.7M | $0 | $304,000 | $662.9M | $688.1M | $759.8M | $565.0M |
| Total liabilities | $580.4M | $474.1M | $413.0M | $1.03B | $755.2M | $868.1M | $646.8M |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | $12,000 | $12,000 | $11,000 | $49.8M | $49.6M | $48.1M | $48.0M |
| Retained earnings (deficit) | −$253.6M | −$317.3M | −$447.7M | −$460.9M | −$402.5M | $218.9M | $158.1M |
| Accumulated other comprehensive income | $118,000 | — | $0 | $0 | $0 | $0 | $0 |
| Total shareholders' equity | $779.7M | $695.6M | $570.8M | −$448.5M | −$393.0M | $871.8M | $808.9M |
| Key figures | |||||||
| Total debt | $466.2M | $378.7M | $336.2M | $314.7M | $15.3M | $644.9M | $460.5M |
| Net cash (debt) | −$73.2M | −$12.6M | −$3.8M | −$275.6M | $125.0M | −$250.6M | −$77.7M |
| Working capital | $268.4M | $261.5M | $245.9M | −$26.2M | $102.7M | $307.9M | $313.8M |
| Tangible book value | $775.9M | $692.2M | $567.5M | −$451.8M | −$402.3M | $871.8M | $808.9M |
| Book value per share | $6.61 | $5.88 | $9.00 | — | — | $18.13 | $19.26 |
| Shares outstanding | 118.0M | 118.3M | 63.4M | — | — | 48.1M | 42.0M |
| Current ratio | 2.65 | 2.97 | 3.25 | 0.69 | 2.98 | 3.84 | 4.84 |
| Quick ratio | 2.53 | 2.86 | 3.16 | 0.56 | 2.83 | 3.64 | 4.69 |
| Debt / equity | 0.60 | 0.54 | 0.59 | — | — | 0.74 | 0.57 |
| Equity / assets | 57.3% | 59.5% | 58.0% | −76.8% | −108.5% | 50.1% | 55.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $435.6M | $403.0M | $393.0M | $387.7M | $385.8M | $369.3M | $366.1M | $367.2M | $343.7M | $329.1M | $332.4M | $340.4M |
| Cash & equivalents | $322.8M | $295.8M | $282.9M | $284.6M | $290.2M | $289.4M | $366.1M | $367.2M | $343.7M | $329.1M | $332.4M | $340.4M |
| Short-term investments | $112.8M | $107.2M | $110.1M | $103.1M | $95.6M | $79.9M | — | — | — | — | — | — |
| Receivables | $20.6M | $20.7M | $19.0M | $17.2M | $16.5M | $15.9M | $13.0M | $13.2M | $13.9M | $11.7M | $11.9M | $12.7M |
| Inventory | $9.8M | $9.3M | $9.0M | $8.6M | $8.0M | $7.3M | $7.6M | $7.3M | $7.2M | $6.3M | $5.6M | $5.7M |
| Other current assets | $13.9M | $11.8M | $10.0M | $11.7M | $8.2M | $10.6M | $7.4M | $5.6M | $4.9M | $4.9M | $5.0M | $4.8M |
| Total current assets | $479.9M | $444.7M | $431.1M | $425.1M | $418.5M | $403.0M | $394.2M | $393.3M | $369.8M | $352.0M | $354.9M | $363.6M |
| Property, plant & equipment (net) | $945.1M | $896.1M | $846.9M | $814.5M | $785.8M | $738.6M | $694.7M | $677.3M | $659.9M | $644.5M | $620.2M | $613.1M |
| Goodwill & intangible assets | $3.7M | $3.7M | $3.7M | $3.7M | $3.5M | $3.5M | $3.3M | $3.3M | $3.3M | $3.3M | $3.3M | $3.3M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $71.1M | $78.4M | $78.3M | $78.6M | $83.8M | $83.2M | $77.4M | $5.7M | $5.5M | $5.3M | $82.4M | $4.9M |
| Total assets | $1.50B | $1.42B | $1.36B | $1.32B | $1.29B | $1.23B | $1.17B | $1.08B | $1.04B | $1.01B | $1.06B | $985.0M |
| Liabilities | ||||||||||||
| Accounts payable | $38.0M | $33.3M | $37.5M | $31.1M | $33.6M | $26.0M | $25.6M | $25.3M | $20.3M | $19.4M | $17.2M | $13.6M |
| Short-term debt | $55.5M | $53.0M | $48.5M | $48.7M | $46.6M | $44.6M | $37.2M | $41.2M | $79.4M | $38.0M | $32.6M | $36.4M |
| Deferred revenue | — | — | — | — | — | — | — | −$103.0M | — | — | — | — |
| Total current liabilities | $193.2M | $167.5M | $162.7M | $158.3M | $153.7M | $134.3M | $132.6M | $134.4M | $123.6M | $111.3M | $109.0M | $112.9M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $378.7M | $369.8M | $359.1M | $350.8M | $312.8M | $0 |
| Lease obligations | $520.7M | $498.5M | $466.2M | $443.3M | $433.8M | $412.5M | — | — | — | — | — | — |
| Other long-term liabilities | $465.3M | $445.4M | $417.7M | $394.7M | $387.2M | $367.9M | $0 | $0 | $0 | $0 | $68.2M | $306.3M |
| Total liabilities | $658.5M | $613.0M | $580.4M | $553.0M | $540.9M | $502.2M | $474.1M | $463.1M | $443.1M | $424.3M | $490.0M | $419.3M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $12,000 | $12,000 | $12,000 | $12,000 | $12,000 | $12,000 | $12,000 | $11,000 | $11,000 | $11,000 | $11,000 | $11,000 |
| Retained earnings (deficit) | −$207.0M | −$230.0M | −$253.6M | −$258.5M | −$273.3M | −$291.6M | −$317.3M | −$396.0M | −$413.9M | −$433.7M | −$447.7M | −$449.7M |
| Accumulated other comprehensive income | −$201,000 | −$22,000 | $118,000 | $124,999 | −$13,000 | −$71,000 | — | — | $0 | $0 | $0 | $0 |
| Total shareholders' equity | $841.3M | $810.0M | $779.7M | $769.0M | $750.7M | $726.2M | $695.6M | $616.4M | $595.4M | $580.8M | $570.8M | $565.7M |
| Key figures | ||||||||||||
| Total debt | $520.7M | $498.5M | $466.2M | $443.3M | $433.8M | $412.5M | $378.7M | $369.8M | $359.1M | $350.8M | $336.2M | $342.4M |
| Net cash (debt) | −$85.1M | −$95.5M | −$73.2M | −$55.7M | −$48.1M | −$43.2M | −$12.6M | −$2.6M | −$15.4M | −$21.6M | −$3.8M | −$2.0M |
| Working capital | $286.6M | $277.2M | $268.4M | $266.8M | $264.8M | $268.7M | $261.5M | $258.8M | $246.2M | $240.7M | $245.9M | $250.7M |
| Tangible book value | $837.6M | $806.3M | $775.9M | $765.3M | $747.2M | $722.7M | $692.2M | $613.1M | $592.1M | $577.5M | $567.5M | $562.4M |
| Book value per share | $7.11 | $6.85 | $6.61 | $6.50 | $6.34 | $6.13 | $5.88 | $5.21 | $5.03 | $4.92 | $5.03 | $4.98 |
| Shares outstanding | 118.4M | 118.3M | 118.0M | 118.3M | 118.3M | 118.4M | 118.3M | 118.4M | 118.3M | 117.9M | 113.6M | 113.6M |
| Current ratio | 2.48 | 2.65 | 2.65 | 2.69 | 2.72 | 3.00 | 2.97 | 2.93 | 2.99 | 3.16 | 3.25 | 3.22 |
| Quick ratio | 2.36 | 2.53 | 2.53 | 2.56 | 2.62 | 2.87 | 2.86 | 2.83 | 2.89 | 3.06 | 3.16 | 3.13 |
| Debt / equity | 0.62 | 0.62 | 0.60 | 0.58 | 0.58 | 0.57 | 0.54 | 0.60 | 0.60 | 0.60 | 0.59 | 0.61 |
| Equity / assets | 56.1% | 56.9% | 57.3% | 58.2% | 58.1% | 59.1% | 59.5% | 57.1% | 57.3% | 57.8% | 53.8% | 57.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 25, 2026); data from EODHD.
CAVA financial position
At the end of fiscal 2025 (December 31, 2025), CAVA had total assets of $1.4 billion (up 16.3% from a year earlier), total liabilities of $580.4 million and shareholders' equity of $779.7 million. It held $393.0 million in cash and short-term investments against $466.2 million of debt, net debt of $73.2 million. Its current ratio was 2.65. In the latest quarter (ended June 30, 2026) total assets were $1.5 billion and equity $841.3 million.
Related: CAVA income statement, CAVA cash flow statement, CAVA key metrics. See the CAVA stock overview for the latest quote and news.
CAVA balance sheet FAQ
What are CAVA's total assets?
CAVA reported total assets of $1.4 billion at the end of fiscal 2025 (December 31, 2025), compared with $1.2 billion a year earlier.
How much debt does CAVA have?
CAVA had $466.2 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.60.
How much cash does CAVA have?
CAVA held $393.0 million in cash and short-term investments at the end of fiscal 2025; with $466.2 million of debt that is net debt of $73.2 million.
What is CAVA's book value?
CAVA's shareholders' equity (book value) was $779.7 million at the end of fiscal 2025, or $6.61 per share.
What is CAVA's current ratio?
CAVA had current assets of $431.1 million and current liabilities of $162.7 million, a current ratio of 2.65 (it can cover its short-term obligations).
How much goodwill does CAVA have?
CAVA carried $3.7 million of goodwill and intangible assets, 0.3% of total assets, at the end of fiscal 2025.