Key Takeaways
- • CAVA Group (NYSE: CAVA) achieved full-year fiscal 2025 revenue of $1.169 billion, representing 22.5% year-over-year growth and marking the first time the company surpassed the $1 billion annual revenue milestone.
- • Q4 2025 revenue reached $275 million, beating analyst estimates of $268.6 million by 2.4%, with gross profit expanding 87.0% year-over-year to $96.2 million, demonstrating significant operational leverage.
- • The company opened 72 net new restaurants during fiscal 2025 while maintaining a full-year same-restaurant sales growth of 4.0%, with Q4 same-store sales growth of 0.5% despite challenging prior-year comparisons and macroeconomic headwinds.
- • Restaurant-level profit margin reached 24.4% for the full year, with Q4 restaurant-level profit of $58.3 million (21.4% margin), while digital revenue mix expanded to 38.9% in Q4, reflecting operational efficiency and changing consumer ordering patterns.
- • Net income of $4.9 million in Q4 and adjusted EBITDA of $25.8 million demonstrate profitability at scale, though the company's trailing P/E ratio of 177.38 and forward P/E of 192.31 reflect elevated market valuation expectations relative to current earnings.
Summary
CAVA Group delivered strong fourth quarter and full-year 2025 results on February 24, 2026, achieving a significant milestone as the Mediterranean fast-casual restaurant chain surpassed $1 billion in annual revenue for the first time. Full-year revenue grew 22.5% to $1.169 billion from $954.3 million in the prior year, driven by both comparable restaurant sales growth and new unit expansion. Co-Founder and CEO Brett Schulman emphasized that the company's "momentum and market share gains underscore the strength of our value proposition and reflect how deeply our brand is resonating with today's increasingly discerning consumer."
The fourth quarter performance exceeded analyst expectations, with revenue of $275 million compared to consensus estimates of $268.6 million, a 2.4% beat. Year-over-year quarterly growth reached 20.9%, demonstrating resilience in a "dynamic macroeconomic environment," according to Schulman. Gross profit expanded significantly, rising 87.0% year-over-year to $96.2 million in Q4, reflecting operational improvements and cost leverage as the company scaled. Digital revenue mix reached 38.9% in the quarter, indicating substantial adoption of off-premise ordering and delivery channels.
Restaurant-level economics remain robust, with CAVA achieving a full-year restaurant-level profit margin of 24.4% and a Q4 margin of 21.4%. The company's aggressive unit growth strategy continued during 2025, with 72 net new restaurant openings, while same-restaurant sales grew 4.0% for the full year and 0.5% in Q4. Net income reached $4.9 million in Q4 with adjusted EBITDA of $25.8 million, compared to $25.1 million in the prior-year quarter, demonstrating the company's path to consistent profitability at an increasing revenue base.
As of April 23, 2026, CAVA traded at $95.79 per share with a market capitalization of approximately $11.3 billion. The stock carries elevated valuation multiples, with a trailing P/E ratio of 177.38 and forward P/E of 192.31, reflecting investor expectations for continued growth in the Mediterranean fast-casual segment. The company maintains a strong balance sheet with $393 million in total cash and debt-to-equity of 59.8%, providing capital flexibility for continued restaurant expansion and operational investments.
The fourth quarter performance exceeded analyst expectations, with revenue of $275 million compared to consensus estimates of $268.6 million, a 2.4% beat. Year-over-year quarterly growth reached 20.9%, demonstrating resilience in a "dynamic macroeconomic environment," according to Schulman. Gross profit expanded significantly, rising 87.0% year-over-year to $96.2 million in Q4, reflecting operational improvements and cost leverage as the company scaled. Digital revenue mix reached 38.9% in the quarter, indicating substantial adoption of off-premise ordering and delivery channels.
Restaurant-level economics remain robust, with CAVA achieving a full-year restaurant-level profit margin of 24.4% and a Q4 margin of 21.4%. The company's aggressive unit growth strategy continued during 2025, with 72 net new restaurant openings, while same-restaurant sales grew 4.0% for the full year and 0.5% in Q4. Net income reached $4.9 million in Q4 with adjusted EBITDA of $25.8 million, compared to $25.1 million in the prior-year quarter, demonstrating the company's path to consistent profitability at an increasing revenue base.
As of April 23, 2026, CAVA traded at $95.79 per share with a market capitalization of approximately $11.3 billion. The stock carries elevated valuation multiples, with a trailing P/E ratio of 177.38 and forward P/E of 192.31, reflecting investor expectations for continued growth in the Mediterranean fast-casual segment. The company maintains a strong balance sheet with $393 million in total cash and debt-to-equity of 59.8%, providing capital flexibility for continued restaurant expansion and operational investments.
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