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ZYBERNO

Stock Report

Updated Aug 29, 2026

CAVA Group, Inc. (CAVA)

NYSE

$66.94

CAVA Group Inc. is an American fast-casual restaurant chain headquartered in Washington, D.C., that serves Mediterranean cuisine through its Cava brand restaurants. The company offers customizable bowls and pitas with Mediterranean-inspired proteins, dips, spreads, toppings, and dressings at fast-casual prices, operating approximately 350 restaurants across the United States. CAVA went public on the NYSE in June 2023.

Professional Investment Analysis

ZYBERNO SCORE →

Is it a great business? Is it getting better?

44.0/100

WEAK BUSINESS

CAVA Group, Inc. (CAVA) scores 44/100 — weak fundamentals with mixed indicators requiring careful analysis before acting.

📊 How is the Zyberno Score calculated? +

The Zyberno Score answers one question: "Is this a quality business worth owning?" It's a 0-100 investment grade that evaluates business fundamentals across four critical dimensions, based on principles from Warren Buffett, Benjamin Graham, Peter Lynch, and Charlie Munger.

The 4 Core Categories (25 points each):

1. PROFITABILITY (25 pts)

Metrics: ROE, ROIC, Net Margin, Operating Margin
Thresholds: ROE >20% excellent • ROIC >20% excellent • Net Margin >20% excellent • Operating Margin >25% excellent

2. FINANCIAL STRENGTH (25 pts)

Metrics: Debt-to-Equity, Current Ratio, Interest Coverage, Altman Z-Score
Thresholds: D/E <0.3 excellent • Current Ratio >2.5 excellent • Interest Coverage >10x excellent • Altman Z >3.0 safe

3. CASH FLOW QUALITY (25 pts)

Metrics: Free Cash Flow, OCF vs Net Income, FCF Margin
Thresholds: Positive & growing FCF excellent • OCF/NI >1.2x excellent (cash earnings exceed accounting)

4. GROWTH & CONSISTENCY (25 pts)

Metrics: Revenue Growth, Net Income Growth, FCF Growth, Piotroski F-Score
Thresholds: Growth via log-linear regression • Piotroski 8-9 excellent, 6-7 good

Score Interpretation:

75-100

GREAT BUSINESS

65-74

GOOD BUSINESS

50-64

AVERAGE BUSINESS

30-49

WEAK BUSINESS

0-29

POOR BUSINESS

→ View full CAVA quality analysis & detailed breakdown

VALUATION SIGNAL

MARGIN OF SAFETY

Is this stock cheap or expensive relative to what the business has historically generated for owners?

Margin of Safety unavailable — insufficient data for the owner-earnings DCF.

BRINA GAP ↗

Is the market underestimating or overestimating what this business is capable of going forward?

-30.8%

Market Overestimates

💰 How is Margin of Safety calculated? +

Margin of Safety measures how much discount or premium you're paying relative to a stock's intrinsic value. It's Benjamin Graham's core principle: the larger the margin, the lower your downside risk.

Formula: (Intrinsic Value − Current Price) ÷ Intrinsic Value × 100%

How We Calculate Intrinsic Value (DCF Method):

Step 1: Calculate current Owner Earnings (OCF − Maintenance CapEx)

Step 2: Calculate company-specific growth rate using log-linear regression on 16 quarters of Owner Earnings

Step 3: Project 10 years forward using the calculated growth rate

Step 4: Discount each year's cash flow to present value using 10% discount rate

Step 5: Calculate terminal value using 3% perpetual growth rate

Step 6: Sum all discounted cash flows = Intrinsic Value

What The Percentages Mean:

+50% or more

EXCELLENT — Very undervalued

+25% to +50%

GOOD — Attractive discount

0% to +25%

FAIR — Reasonable value

0% to -25%

CAUTION — Slight premium

-25% or worse

POOR — Overvalued

"Price is what you pay, value is what you get." — Warren Buffett

→ View full CAVA valuation analysis · → View full CAVA Brina Gap analysis

📈 How is Brina Gap calculated? +

Brina Gap measures the difference between the growth a business can fundamentally sustain and the growth the market is already pricing in.

Formula: Fundamental Growth Rate − Market-Implied Growth Rate

The Two Components:

Fundamental Growth Rate = ROIC × Reinvestment Rate

What the business can sustainably grow at based on how much it reinvests and what return it earns on that capital. Grounded in historical financials.

Market-Implied Growth Rate = Reverse DCF

The growth rate the current Enterprise Value implicitly assumes. Calculated by back-solving a 10-year DCF model (10% WACC, 3% terminal growth) until the present value of projected cash flows equals EV.

What The Gap Means:

Gap > +5% Market Underestimates — potential upside

+2% to +5% Slight Underestimate

-2% to +2% Fairly Priced — market consensus matches fundamentals

-5% to -2% Slight Overestimate

Gap < -5% Market Overestimates — price embeds optimism fundamentals don't support

A positive gap (market underestimates) combined with a positive Margin of Safety is the strongest combined signal — the business is both cheap historically and forward economics are stronger than the price suggests.

Critical Financial Health Indicators

Return on Equity (Profitability):CRITICAL (0.0%)

Debt-to-Equity (Solvency Risk):GOOD (0.56x)

Operating Margin (Operational Efficiency):CRITICAL (0.0%)

Return on Capital (Capital Efficiency):CRITICAL (4.0%)

📊 Valuation Trilogy

Three interconnected metrics for complete valuation analysis

Click any metric for full methodology and detailed analysis

Zyberno's Verdict

CAVA Group, Inc. (CAVA) stock report — Zyberno Score 44/100 (WEAK BUSINESS). Full financial analysis on Zyberno.

According to Zyberno's DCF model, CAVA Group, Inc. (CAVA) shows a Brina Gap of -30.8%, which weakens the case: based on the company's ROIC (4.0%) and reinvestment rate (204.4%), the business can fundamentally grow at 8.2% — but the current enterprise value implies the market expects 38.9%.

DIVISION I: EXECUTIVE SUMMARY

A. Market Valuation

Market Price & Capitalization (2)

Current Price:66.94

Market Cap:$7.81B

Valuation Multiples (2)

P/B Ratio:9.28x

Peg Ratio:-999.00x

Enterprise Metrics (3)

Enterprise Value:$8.00B

Ev Ebitda Ratio:62.07x

Pfcf Ratio:298.59x

Price Action & Momentum (3)

12-1 Momentum:

-29.5% (31th pctile)

📈 Click to view full CAVA Momentum analysis →

Momentum Percentile:31 / 100

% of 52-Week High:67.8%

B. Profitability Assessment

Return Metrics (5)

Roic:

4.0%

📊 Click to view full CAVA ROIC analysis →

Reinvestment Rate:204.4%

Fundamental Growth Rate (g):8.2%

Market-Implied Growth Rate:38.9%

Brina Gap:

-30.8%

☷ Click to view full CAVA Brina Gap analysis →

Margin Analysis (1)

Ebitda Margin:10.9%

Yield Metrics (2)

Earnings Yield:-$999.00

Dividend Yield:0.0%

C. Log-Linear Regression Growth Trends

Revenue Growth (Linear) (1)

Revenue Growth Rate (Linear):28.3%

Earnings Growth (Linear) (1)

Net Income Growth Rate (Linear):46.6%

Operating Growth (Linear) (1)

Operating Income Growth Rate (Linear):87.1%

D. Financial Stability

Liquidity Ratios (3)

Current Ratio:2.48x

Quick Ratio:2.43x

Cash Ratio:1.67x

Leverage Analysis (3)

Debt To Equity Ttm:0.56x

Debt-to-Equity Ratio:0.56x

Debt To Ebitda:4.04x

Coverage Ratios (1)

Times Interest Earned:-999.00

Capital Structure (4)

Working Capital:286,638,000.00

Cash And Cash Equivalents:322,763,000.00

Long Term Debt:$465.27M

Net Debt:$197.98M

DIVISION II: FINANCIAL STATEMENTS ANALYSIS

A. Income Statement Analysis

Revenue Components (2)

Revenue TTM: $1.18B

Linear Growth: 28.3%

📊 Click to view full CAVA Revenue analysis & methodology →

Cost Of Revenue Ttm:$0.00

Profitability Breakdown (2)

Gross profit TTM: $214.93M

Linear Growth: 35.9%

📊 Click to view full CAVA Gross Profit analysis & methodology →

Operating income TTM: $55.29M

Linear Growth: 87.1%

📊 Click to view full CAVA Operating Income analysis & methodology →

Bottom Line Performance (3)

Net income TTM: $63.74M

Linear Growth: 46.6%

📊 Click to view full CAVA Net Income analysis & methodology →

Income Before Tax:$92.85M

Ebitda Ttm:128,946,000.00

Operating Expenses (5)

Operating Expenses:1,107,726,000.00

R And D Expense:0.00

Sga Expense:133,180,000.00

Income Tax Expense:$18.76M

Interest Expense:0.00

Expense Ratios (3)

R And D To Revenue Percentage:0.0%

Sga To Revenue Percentage:36.1%

Ebitda Margin:10.9%

B. Balance Sheet Analysis

Asset Composition (5)

Total Assets:$1.50B

Current Assets:$479.87M

Ppe Net:507,145,000.00

Goodwill:1,944,000.00

Intangible Assets:$1.75M

Liability Structure (4)

Total Liabilities:658,497,000.00

Current Liabilities:193,228,000.00

Long Term Debt:$465.27M

Short Term Debt:$55.47M

Equity & Capital (3)

Equity:$841.28M

Retained Earnings:-$207.02M

Common Stock:2,500,000,000.00

Working Capital Items (3)

Accounts Receivable:10,136,000.00

Inventory:9,799,000.00

Accounts Payable:38,013,000.00

Special Items (2)

Contract Liabilities:7,473,000.00

Stock Based Compensation:5,700,000.00

C. Cash Flow Analysis

Operating Activities (2)

$184.84M$26.14M

Investment Activities (1)

Investing Cash Flow:-$273.04M

Financing Activities (3)

Financing Cash Flow:$5.00M

Dividends Paid Ttm:0.00

Stock Repurchase:0.00

Capital Transactions (3)

Common Stock Issuance:0.00

Long Term Debt Issuance:$0.00

Long Term Debt Repayments:$0.00

DIVISION III: OPERATIONAL METRICS

A. Per Share Analysis

Earnings Per Share (1)

Earnings Per Share Ttm:$0.55

Revenue & Cash Per Share (2)

Sales Per Share Ttm:10.12

Operating Cash Flow Per Share:$1.59

Book Value & Capital (2)

Book Value Per Share:$7.21

Cash Per Share:2.77

Dividend Policy (1)

Dividend Payout Ratio:-999.00x

B. Operational Efficiency

Asset Utilization (2)

Asset Turnover Ttm:0.84x

Working Capital Turnover Ttm:4.12x

Receivables Management (2)

Receivables Turnover Ttm:116.38x

Days Sales Outstanding Ttm:3.14

Inventory Management (2)

Inventory Turnover Ttm:120.39x

Days Inventory Outstanding Ttm:3.03

Payables & Cash Cycle (2)

Days Payable Outstanding:11.76

Cash Conversion Cycle:-5.59

C. Quality & Risk Metrics

Financial Quality Scores (2)

Financial Strength Score:60.00

Quality Score:90.00

Market Metrics (2)

Beta:0.00x

Volatility Category:unknown

DIVISION IV: INVESTMENT ANALYSIS

A. Value Investment Framework

Damodaran Growth Analysis (4)

Reinvestment Rate:204.4%

Fundamental Growth Rate (g):8.2%

Market-Implied Growth Rate:38.9%

Brina Gap:

-30.8%

☷ Click to view full CAVA Brina Gap analysis →

B. Log-Linear Regression Growth Analysis

Growth Rates (Log-Linear Regression) (3)

Revenue Growth Rate (Linear):28.3%

Net Income Growth Rate (Linear):46.6%

Operating Income Growth Rate (Linear):87.1%

Other Growth Rates (2)

Gross Profit Growth Rate (Linear):35.9%

Book Value Growth Rate (Linear):16.4%

C. Company Profile & Context

Corporate Information (6)

Symbol:CAVA

Company Name:CAVA Group, Inc.

Sector:Unknown

Industry:Retail-Eating Places

Exchange:NYSE

Country:United States

Market Classification (3)

Market Cap Category:N/A

Price Category:high

Volume Category:N/A

Share Structure (3)

Shares Outstanding:116.60M

Shares Outstanding Basic:116.60M

Shares Outstanding Diluted:118.38M

Data Processing Info (3)

Processing Version:v3.0

Last Updated:2026-08-29 16:41:52 UTC

Data Timestamp:2026-08-29T16:41:52.224395