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Side-by-side financial comparison of CAVA GROUP, INC. (CAVA) and Chipotle Mexican Grill (CMG). Click either name above to swap in a different company.
Chipotle Mexican Grill is the larger business by last-quarter revenue ($3.0B vs $292.2M, roughly 10.2× CAVA GROUP, INC.). Chipotle Mexican Grill runs the higher net margin — 11.1% vs 5.0%, a 6.0% gap on every dollar of revenue. On growth, CAVA GROUP, INC. posted the faster year-over-year revenue change (19.9% vs 4.9%). Chipotle Mexican Grill produced more free cash flow last quarter ($228.4M vs $1.4M). Over the past eight quarters, CAVA GROUP, INC.'s revenue compounded faster (30.0% CAGR vs 5.1%).
Cava, also referred to as Cava Grill, is an American Mediterranean fast casual restaurant chain with locations across the United States. Cava is owned by the publicly traded Cava Group, which purchased Zoës Kitchen in August 2018. The combined company is the largest restaurant operator in the Mediterranean category in the U.S. restaurant industry. Cava also produces a line of Mediterranean dips, spreads, and dressings that are sold in grocery stores across the US. As of May 2023, all Zoës Kit...
Chipotle Mexican Grill, Inc., often known simply as Chipotle, is an American multinational chain of fast casual restaurants specializing in bowls, tacos, and Mission burritos made to order in front of the customer. As of December 2025, Chipotle has 4,000 locations. Its name derives from chipotle, the Nahuatl name for a smoked and dried jalapeño chili pepper.
CAVA vs CMG — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $292.2M | $3.0B |
| Net Profit | $14.7M | $330.9M |
| Gross Margin | — | — |
| Operating Margin | 5.9% | 14.1% |
| Net Margin | 5.0% | 11.1% |
| Revenue YoY | 19.9% | 4.9% |
| Net Profit YoY | -17.9% | -0.3% |
| EPS (diluted) | $0.12 | $0.25 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $292.2M | $3.0B | ||
| Q3 25 | $280.6M | $3.0B | ||
| Q2 25 | $331.8M | $3.1B | ||
| Q1 25 | — | $2.9B | ||
| Q4 24 | $243.8M | $2.8B | ||
| Q3 24 | $233.5M | $2.8B | ||
| Q2 24 | $259.0M | $3.0B | ||
| Q1 24 | — | $2.7B |
| Q4 25 | $14.7M | $330.9M | ||
| Q3 25 | $18.4M | $382.1M | ||
| Q2 25 | $25.7M | $436.1M | ||
| Q1 25 | — | $386.6M | ||
| Q4 24 | $18.0M | $331.8M | ||
| Q3 24 | $19.7M | $387.4M | ||
| Q2 24 | $14.0M | $455.7M | ||
| Q1 24 | — | $359.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 25.7% | — | ||
| Q3 24 | 26.7% | — | ||
| Q2 24 | 25.2% | — | ||
| Q1 24 | — | — |
| Q4 25 | 5.9% | 14.1% | ||
| Q3 25 | 7.0% | 15.9% | ||
| Q2 25 | 4.7% | 18.2% | ||
| Q1 25 | — | 16.7% | ||
| Q4 24 | 5.6% | 14.6% | ||
| Q3 24 | 6.9% | 16.9% | ||
| Q2 24 | 3.6% | 19.7% | ||
| Q1 24 | — | 16.3% |
| Q4 25 | 5.0% | 11.1% | ||
| Q3 25 | 6.5% | 12.7% | ||
| Q2 25 | 7.7% | 14.2% | ||
| Q1 25 | — | 13.4% | ||
| Q4 24 | 7.4% | 11.7% | ||
| Q3 24 | 8.5% | 13.9% | ||
| Q2 24 | 5.4% | 15.3% | ||
| Q1 24 | — | 13.3% |
| Q4 25 | $0.12 | $0.25 | ||
| Q3 25 | $0.16 | $0.29 | ||
| Q2 25 | $0.22 | $0.32 | ||
| Q1 25 | — | $0.28 | ||
| Q4 24 | $0.15 | $-12.51 | ||
| Q3 24 | $0.17 | $0.28 | ||
| Q2 24 | $0.12 | $0.33 | ||
| Q1 24 | — | $13.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $284.6M | $1.0B |
| Total DebtLower is stronger | — | $0 |
| Stockholders' EquityBook value | $769.0M | $2.8B |
| Total Assets | $1.3B | $9.0B |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $284.6M | $1.0B | ||
| Q3 25 | $290.2M | $1.4B | ||
| Q2 25 | $289.4M | $1.5B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | $367.2M | $1.4B | ||
| Q3 24 | $343.7M | $1.4B | ||
| Q2 24 | $329.1M | $1.5B | ||
| Q1 24 | — | $1.4B |
| Q4 25 | — | $0 | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $769.0M | $2.8B | ||
| Q3 25 | $750.7M | $3.2B | ||
| Q2 25 | $726.2M | $3.5B | ||
| Q1 25 | — | $3.5B | ||
| Q4 24 | $616.4M | $3.7B | ||
| Q3 24 | $595.4M | $3.6B | ||
| Q2 24 | $580.8M | $3.7B | ||
| Q1 24 | — | $3.4B |
| Q4 25 | $1.3B | $9.0B | ||
| Q3 25 | $1.3B | $9.3B | ||
| Q2 25 | $1.2B | $9.3B | ||
| Q1 25 | — | $9.0B | ||
| Q4 24 | $1.1B | $9.2B | ||
| Q3 24 | $1.0B | $9.0B | ||
| Q2 24 | $1.0B | $8.9B | ||
| Q1 24 | — | $8.4B |
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $45.6M | $425.8M |
| Free Cash FlowOCF − Capex | $1.4M | $228.4M |
| FCF MarginFCF / Revenue | 0.5% | 7.7% |
| Capex IntensityCapex / Revenue | 15.1% | 6.6% |
| Cash ConversionOCF / Net Profit | 3.10× | 1.29× |
| TTM Free Cash FlowTrailing 4 quarters | $46.6M | $1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $45.6M | $425.8M | ||
| Q3 25 | $60.3M | $569.7M | ||
| Q2 25 | $38.6M | $561.3M | ||
| Q1 25 | — | $557.1M | ||
| Q4 24 | $43.9M | $526.8M | ||
| Q3 24 | $48.9M | $446.5M | ||
| Q2 24 | $38.4M | $562.6M | ||
| Q1 24 | — | $569.2M |
| Q4 25 | $1.4M | $228.4M | ||
| Q3 25 | $19.2M | $406.2M | ||
| Q2 25 | $2.7M | $400.7M | ||
| Q1 25 | — | $412.3M | ||
| Q4 24 | $23.4M | $353.9M | ||
| Q3 24 | $22.7M | $299.0M | ||
| Q2 24 | $4.7M | $422.1M | ||
| Q1 24 | — | $436.5M |
| Q4 25 | 0.5% | 7.7% | ||
| Q3 25 | 6.8% | 13.5% | ||
| Q2 25 | 0.8% | 13.1% | ||
| Q1 25 | — | 14.3% | ||
| Q4 24 | 9.6% | 12.4% | ||
| Q3 24 | 9.7% | 10.7% | ||
| Q2 24 | 1.8% | 14.2% | ||
| Q1 24 | — | 16.2% |
| Q4 25 | 15.1% | 6.6% | ||
| Q3 25 | 14.7% | 5.4% | ||
| Q2 25 | 10.8% | 5.2% | ||
| Q1 25 | — | 5.0% | ||
| Q4 24 | 8.4% | 6.1% | ||
| Q3 24 | 11.2% | 5.3% | ||
| Q2 24 | 13.0% | 4.7% | ||
| Q1 24 | — | 4.9% |
| Q4 25 | 3.10× | 1.29× | ||
| Q3 25 | 3.28× | 1.49× | ||
| Q2 25 | 1.50× | 1.29× | ||
| Q1 25 | — | 1.44× | ||
| Q4 24 | 2.44× | 1.59× | ||
| Q3 24 | 2.48× | 1.15× | ||
| Q2 24 | 2.74× | 1.23× | ||
| Q1 24 | — | 1.58× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CAVA
| Restaurant Revenue | $289.8M | 99% |
| Rewards | $2.9M | 1% |
| CPG Revenue And Other | $2.5M | 1% |
CMG
| U.S.Segment | $2.9B | 98% |
| Chipotle Rewards | $46.1M | 2% |
| Delivery Service | $14.3M | 0% |
