CAVA Group vs First Watch Restaurant Group
CAVA Group and First Watch Restaurant Group are similar in size: $1.18bn and $1.22bn of revenue in their latest fiscal years. CAVA Group grew faster (22.4% against 20.3%). CAVA Group kept more of each dollar of sales as profit: a net margin of 5.4% against 1.6%.
| Latest fiscal year | CAVA GroupCAVA, 2025 | First Watch Restaurant GroupFWRG, 2025 |
|---|---|---|
| Revenue | $1.18bn | $1.22bn |
| Revenue growth | 22.4% | 20.3% |
| Net income | $63.7m | $19.4m |
| Operating margin | — | 2.3% |
| Net margin | 5.4% | 1.6% |
| Return on equity | 8.6% | 3.2% |
| Free cash flow | $26.1m | −$31.0m |
| Cash | $283m | $21.2m |
| Total debt | $0 | $282m |
| Debt to equity | — | 45.1% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | 12,900 | — |
| Market value | $7.03bn | $833m |
| Price vs our value range | Above our value range | — |
| Moat score | — | 25 (Weak) |
| Insider trades, 12 months | 7 buys, 34 sales | 0 buys, 16 sales |