CAVA GROUP, INC.

CAVA · Retail-Eating Places · 116.5M shares · +831%/yr ↑ dilution · EDGAR filings ↗

Net buyback after stock comp: -$2M (gross $8M, SBC $9M)

Reference price $90.00 · est. market cap ~$10.5B — last insider sale, 2026-06-18 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)

Grade

B75

Fast-growing, newly profitable Mediterranean fast-casual chain with a strong balance sheet and a long unit-growth runway.

Strengths

Above-median net margin (5.4%, 73.5th pct), ROA (71st pct) and strong OCF margin (15.7%, 78th pct)
Rapid unit growth (72 net new restaurants) toward a 1,000+ store target with ample cash and 2.65x current ratio

Risks

Mid-pack ROE (8.2%, 48th pct) and modest FCF margin (41st pct) as growth capex absorbs cash
Execution risk on aggressive expansion; intense restaurant competition and moderating same-store growth

Notable findings

Exec changeRecent 8-K item 5.02 8-K ↗
Chronic dilutionShare count +831%/yr over 2y (dilution, book value/share -98%)
Strong balance sheetStrong balance sheet — $283M cash & investments
Insider buyingInsider buying — 4 open-market buy(s) by 2 insider(s) (cluster of 2 insiders, ~$661,550, last 6mo) Form 4 ↗
Insider sellingInsider selling — 33 open-market sale(s) by 8 insider(s) (cluster of 8 insiders, ~$286M, last 6mo) Form 4 ↗

Quarterly revenue

2022-10-02 · $139M2023-10-01 · $176M2024-10-06 · $244M2025-10-05 · $292M

Last 4 quarters · from SEC filings.

Key metrics

Operating margin

4.7%

Net margin

5.4%

Return on equity

8.2%

Return on assets

4.7%

Revenue growth (QoQ)

19.9%

Net-income growth

-51.1%

Current ratio

2.7×

Free cash flow

$26M

EBITDA

$129M

Tangible book value

$776M

Cash & investments

$283M

Stock comp / revenue

1.3%

Insider transactions · last 18 months

Date	Insider	Type	Shares	Price
2026-06-22	Bosserman David	Grant	1.9K	—
2026-06-22	Amouyal Philippe	Grant	1.9K	—
2026-06-22	Shanahan Lauri M	Grant	1.9K	—
2026-06-22	SHAICH RONALD M	Grant	1.9K	—
2026-06-22	WHITE JAMES D	Grant	1.9K	—
2026-06-22	Felt Benjamin	Grant	1.9K	—
2026-06-18	KOCHEVAR KAREN	Option exercise	625	$2.94
2026-06-18	KOCHEVAR KAREN	Option exercise	1.9K	$3.12
2026-06-18	KOCHEVAR KAREN	Option exercise	3.8K	$6.25
2026-06-18	KOCHEVAR KAREN	Option exercise	3.8K	$9.58
2026-06-18	KOCHEVAR KAREN	Sell	10K	$90.00
2026-06-17	Costanza Kelly	Sell	12K	$90.00
2026-06-15	Tolivar Tricia K.	Grant	283	$44.13
2026-06-15	Costanza Kelly	Sell	2.9K	$89.43
2026-06-15	Schulman Brett	Sell	33K	$89.43
2026-06-15	Tolivar Tricia K.	Sell	5.0K	$89.43
2026-06-15	Phillips Adam David	Sell	757	$89.43
2026-06-15	Xenohristos Theodoros	Sell	3.3K	$89.43
2026-06-15	Artal Participations S.a r.l.	Sell	3.0M	$90.30
2026-06-12	Phillips Adam David	Option exercise	2.8K	$22.00
2026-06-12	Phillips Adam David	Sell	2.8K	$90.71
2026-06-12	Phillips Adam David	Sell	1.9K	$90.71
2026-06-03	KADOW JOSEPH JOHN	Buy	1.0K	$70.00
2026-05-29	Thompson Douglas W.	Buy	2.5K	$77.90
2026-05-29	KADOW JOSEPH JOHN	Buy	1.0K	$79.00
2026-05-26	Thompson Douglas W.	Buy	4.0K	$79.45
2026-05-21	Phillips Adam David	Option exercise	5.2K	$9.58
2026-05-21	Phillips Adam David	Sell	5.2K	$77.14
2026-05-21	Costanza Kelly	Sell	10K	$79.87
2026-05-11	Xenohristos Theodoros	Sell	9.0K	$79.75
2026-03-05	Bertram Kenneth Robert	Sell	15K	$80.33
2026-02-26	Bertram Kenneth Robert	Grant	3.8K	—
2026-02-26	Xenohristos Theodoros	Grant	4.7K	—
2026-02-26	Phillips Adam David	Grant	1.1K	—
2026-02-26	Phillips Adam David	Sell	2.0K	$85.54
2026-02-26	Costanza Kelly	Grant	4.7K	—
2026-02-26	Costanza Kelly	Option exercise	32K	$6.75
2026-02-26	Costanza Kelly	Sell	32K	$84.45
2026-02-26	Schulman Brett	Grant	29K	—
2026-02-26	Tolivar Tricia K.	Grant	8.0K	—
2026-01-27	Tolivar Tricia K.	Sell	1.6K	$61.96
2026-01-27	Tolivar Tricia K.	Sell	813	$62.50
2026-01-27	Schulman Brett	Sell	3.0K	$61.96
2026-01-27	Schulman Brett	Sell	1.5K	$62.50
2026-01-27	Xenohristos Theodoros	Sell	688	$61.96
2026-01-27	Xenohristos Theodoros	Sell	351	$62.50
2026-01-27	Phillips Adam David	Sell	512	$61.96
2026-01-27	Phillips Adam David	Sell	262	$62.50
2026-01-27	Bertram Kenneth Robert	Sell	658	$61.96
2026-01-27	Bertram Kenneth Robert	Sell	336	$62.50
2026-01-27	Costanza Kelly	Sell	1.1K	$61.96
2026-01-27	Costanza Kelly	Sell	577	$62.50
2026-01-21	Xenohristos Theodoros	Sell	965	$67.41
2026-01-21	Schulman Brett	Sell	22K	$67.41
2026-01-21	Tolivar Tricia K.	Sell	2.2K	$67.41
2026-01-21	Costanza Kelly	Sell	1.7K	$67.41
2026-01-21	Bertram Kenneth Robert	Sell	1.1K	$67.41
2025-12-15	Bertram Kenneth Robert	Grant	47	$45.18
2025-11-26	Bertram Kenneth Robert	Sell	3.8K	$50.70
2025-11-12	Schulman Brett	Buy	150	$48.98
2025-11-10	Schulman Brett	Option exercise	14K	$2.94
2025-11-10	Schulman Brett	Option exercise	23K	$7.56
2025-09-29	Bertram Kenneth Robert	Sell	3.8K	$58.86
2025-09-18	Xenohristos Theodoros	Gift	16K	—
2025-09-18	Xenohristos Theodoros	Gift	16K	—
2025-06-20	Felt Benjamin	Grant	1.8K	—
2025-06-20	SHAICH RONALD M	Grant	1.8K	—
2025-06-20	WHITE JAMES D	Grant	1.8K	—
2025-06-20	Shanahan Lauri M	Grant	1.8K	—
2025-06-20	Amouyal Philippe	Grant	1.8K	—
2025-06-20	Bosserman David	Grant	1.8K	—
2025-06-20	KOCHEVAR KAREN	Grant	1.8K	—
2025-06-16	Bertram Kenneth Robert	Grant	169	$63.38
2025-06-16	Tolivar Tricia K.	Grant	197	$63.38
2025-06-16	Phillips Adam David	Grant	146	$63.38
2025-06-16	Costanza Kelly	Sell	2.3K	$74.96
2025-06-16	Costanza Kelly	Sell	476	$76.11
2025-06-16	Bertram Kenneth Robert	Sell	1.8K	$74.96
2025-06-16	Bertram Kenneth Robert	Sell	374	$76.11
2025-06-16	Phillips Adam David	Sell	613	$74.96
2025-06-16	Phillips Adam David	Sell	126	$76.11
2025-06-16	Schulman Brett	Sell	26K	$74.96
2025-06-16	Schulman Brett	Sell	5.4K	$76.11
2025-06-16	Somers Jennifer	Grant	133	$63.38
2025-06-16	Xenohristos Theodoros	Sell	2.5K	$74.96
2025-06-16	Xenohristos Theodoros	Sell	521	$76.11
2025-06-16	Somers Jennifer	Sell	2.4K	$74.96
2025-06-16	Somers Jennifer	Sell	486	$76.11
2025-06-16	Tolivar Tricia K.	Sell	4.0K	$74.96
2025-06-16	Tolivar Tricia K.	Sell	824	$76.11
2025-05-21	Costanza Kelly	Sell	10K	$86.63
2025-05-09	Xenohristos Theodoros	Sell	5.0K	$94.46
2025-05-09	Xenohristos Theodoros	Sell	4.4K	$95.36
2025-02-28	Tolivar Tricia K.	Grant	7.1K	—
2025-02-28	Costanza Kelly	Grant	4.2K	—
2025-02-28	Schulman Brett	Grant	11K	—
2025-02-28	Somers Jennifer	Grant	6.3K	—
2025-02-28	Xenohristos Theodoros	Grant	4.2K	—
2025-02-28	Bertram Kenneth Robert	Grant	3.4K	—
2025-02-28	Phillips Adam David	Grant	918	—
2025-02-27	Schulman Brett	Option exercise	26K	$2.66
2025-02-27	Schulman Brett	Option exercise	13K	$7.56
2025-02-27	Schulman Brett	Option exercise	612	$2.94
2025-01-27	Schulman Brett	Sell	646	$125.12
2025-01-27	Bertram Kenneth Robert	Sell	149	$123.47
2025-01-27	Bertram Kenneth Robert	Sell	380	$124.47
2025-01-27	Bertram Kenneth Robert	Sell	149	$125.12
2025-01-27	Tolivar Tricia K.	Sell	331	$123.47
2025-01-27	Tolivar Tricia K.	Sell	843	$124.47
2025-01-27	Tolivar Tricia K.	Sell	331	$125.12
2025-01-27	Costanza Kelly	Sell	250	$123.47
2025-01-27	Costanza Kelly	Sell	638	$124.47
2025-01-27	Costanza Kelly	Sell	250	$125.12
2025-01-27	Schulman Brett	Sell	646	$123.47
2025-01-27	Schulman Brett	Sell	1.6K	$124.47
2025-01-27	Xenohristos Theodoros	Sell	129	$123.47
2025-01-27	Xenohristos Theodoros	Sell	327	$124.47
2025-01-27	Xenohristos Theodoros	Sell	129	$125.12
2025-01-27	Phillips Adam David	Sell	135	$123.47
2025-01-27	Phillips Adam David	Sell	345	$124.47
2025-01-27	Phillips Adam David	Sell	135	$125.12
2025-01-27	Somers Jennifer	Sell	332	$123.47
2025-01-27	Somers Jennifer	Sell	844	$124.47
2025-01-27	Somers Jennifer	Sell	332	$125.12
2025-01-21	Costanza Kelly	Sell	322	$119.80
2025-01-21	Schulman Brett	Sell	4.3K	$119.80
2025-01-21	Xenohristos Theodoros	Sell	672	$119.01
2025-01-21	Xenohristos Theodoros	Sell	179	$119.80
2025-01-21	Somers Jennifer	Sell	1.7K	$119.01
2025-01-21	Somers Jennifer	Sell	448	$119.80
2025-01-21	Tolivar Tricia K.	Sell	1.6K	$119.01
2025-01-21	Tolivar Tricia K.	Sell	438	$119.80
2025-01-21	Bertram Kenneth Robert	Sell	757	$119.01
2025-01-21	Bertram Kenneth Robert	Sell	201	$119.80
2025-01-21	Costanza Kelly	Sell	1.2K	$119.01
2025-01-21	Schulman Brett	Sell	16K	$119.01
2025-01-02	Costanza Kelly	Sell	7.0K	$114.89
2025-01-02	Schulman Brett	Sell	1.1K	$115.45
2025-01-02	Schulman Brett	Sell	13K	$114.89
2025-01-02	Costanza Kelly	Sell	609	$115.45

All non-derivative Form 4 activity (SEC), newest first.

Notable events (8-K)

Date	Items
2026-06-24	Exec/director changeShareholder voteExhibits	filing ↗
2026-05-19	ResultsExhibits	filing ↗
2026-04-21	Exec/director changeExhibits	filing ↗
2026-03-25	Material agreementDebt obligationExhibits	filing ↗
2026-02-24	ResultsExhibits	filing ↗
2026-01-12	Exec/director changeExhibits	filing ↗
2025-11-04	ResultsExhibits	filing ↗
2025-09-26	Exec/director changeExhibits	filing ↗

Recent filings

Form	Filed	Period	Accession
8-K	2026-06-24	2026-06-22	0001628280-26-045042 ↗
10-Q	2026-05-20	2026-04-19	0001628280-26-036625 ↗
8-K	2026-05-19	2026-05-19	0001628280-26-036461 ↗
8-K	2026-04-21	2026-04-16	0001628280-26-026283 ↗
8-K	2026-03-25	2026-03-20	0001628280-26-020983 ↗
10-K	2026-02-25	2025-12-28	0001628280-26-011296 ↗
8-K	2026-02-24	2026-02-24	0001628280-26-011087 ↗
8-K	2026-01-12	2026-01-12	0001628280-26-001818 ↗
10-Q	2025-11-05	2025-10-05	0001628280-25-049080 ↗
8-K	2025-11-04	2025-11-04	0001628280-25-048864 ↗
8-K	2025-09-26	2025-09-23	0001628280-25-042935 ↗
10-Q	2025-08-13	2025-07-13	0001639438-25-000007 ↗