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Side-by-side financial comparison of CAVA GROUP, INC. (CAVA) and Tilray Brands, Inc. (TLRY). Click either name above to swap in a different company.
CAVA GROUP, INC. is the larger business by last-quarter revenue ($280.6M vs $217.5M, roughly 1.3× Tilray Brands, Inc.). CAVA GROUP, INC. runs the higher net margin — 6.5% vs -20.7%, a 27.2% gap on every dollar of revenue. On growth, CAVA GROUP, INC. posted the faster year-over-year revenue change (20.2% vs 3.1%).
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...
Tilray Brands, Inc. is an American pharmaceutical, cannabis-lifestyle and consumer packaged goods company, incorporated in the United States, headquartered in New York City. Tilray also has operations in Canada, Australia, New Zealand, and Latin America, with growing facilities in Germany and Portugal.
CAVA vs TLRY — Head-to-Head
Income Statement — Q2 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $280.6M | $217.5M |
| Net Profit | $18.4M | $-44.9M |
| Gross Margin | — | 26.4% |
| Operating Margin | 7.0% | -10.2% |
| Net Margin | 6.5% | -20.7% |
| Revenue YoY | 20.2% | 3.1% |
| Net Profit YoY | -7.0% | 47.4% |
| EPS (diluted) | $0.16 | $-0.41 |
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 | — | $217.5M | ||
| Q3 25 | $280.6M | $209.5M | ||
| Q2 25 | $331.8M | $224.5M | ||
| Q1 25 | — | $185.8M | ||
| Q4 24 | — | $210.9M | ||
| Q3 24 | $233.5M | $200.0M | ||
| Q2 24 | $259.0M | $229.9M | ||
| Q1 24 | — | $188.3M |
| Q4 25 | — | $-44.9M | ||
| Q3 25 | $18.4M | $-322.0K | ||
| Q2 25 | $25.7M | $-1.3B | ||
| Q1 25 | — | $-789.4M | ||
| Q4 24 | — | $-85.3M | ||
| Q3 24 | $19.7M | $-39.2M | ||
| Q2 24 | $14.0M | $-31.7M | ||
| Q1 24 | — | $-92.7M |
| Q4 25 | — | 26.4% | ||
| Q3 25 | — | 27.4% | ||
| Q2 25 | — | 30.1% | ||
| Q1 25 | — | 28.0% | ||
| Q4 24 | — | 29.0% | ||
| Q3 24 | 26.7% | 29.8% | ||
| Q2 24 | 25.2% | 35.8% | ||
| Q1 24 | — | 26.2% |
| Q4 25 | — | -10.2% | ||
| Q3 25 | 7.0% | 1.0% | ||
| Q2 25 | 4.7% | -643.1% | ||
| Q1 25 | — | -409.0% | ||
| Q4 24 | — | -20.0% | ||
| Q3 24 | 6.9% | -18.3% | ||
| Q2 24 | 3.6% | -7.2% | ||
| Q1 24 | — | -43.6% |
| Q4 25 | — | -20.7% | ||
| Q3 25 | 6.5% | -0.2% | ||
| Q2 25 | 7.7% | -566.9% | ||
| Q1 25 | — | -424.9% | ||
| Q4 24 | — | -40.5% | ||
| Q3 24 | 8.5% | -19.6% | ||
| Q2 24 | 5.4% | -13.8% | ||
| Q1 24 | — | -49.2% |
| Q4 25 | — | $-0.41 | ||
| Q3 25 | $0.16 | $0.00 | ||
| Q2 25 | $0.22 | $7.26 | ||
| Q1 25 | — | $-8.69 | ||
| Q4 24 | — | $-0.99 | ||
| Q3 24 | $0.17 | $-0.04 | ||
| Q2 24 | $0.12 | $-0.04 | ||
| Q1 24 | — | $-0.12 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $290.2M | $291.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $750.7M | $1.6B |
| Total Assets | $1.3B | $2.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $291.6M | ||
| Q3 25 | $290.2M | $264.8M | ||
| Q2 25 | $289.4M | $256.4M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $252.2M | ||
| Q3 24 | $343.7M | $280.1M | ||
| Q2 24 | $329.1M | $260.5M | ||
| Q1 24 | — | $225.9M |
| Q4 25 | — | $1.6B | ||
| Q3 25 | $750.7M | $1.5B | ||
| Q2 25 | $726.2M | $1.5B | ||
| Q1 25 | — | $2.7B | ||
| Q4 24 | — | $3.5B | ||
| Q3 24 | $595.4M | $3.5B | ||
| Q2 24 | $580.8M | $3.4B | ||
| Q1 24 | — | $3.4B |
| Q4 25 | — | $2.1B | ||
| Q3 25 | $1.3B | $2.1B | ||
| Q2 25 | $1.2B | $2.1B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $4.2B | ||
| Q3 24 | $1.0B | $4.3B | ||
| Q2 24 | $1.0B | $4.2B | ||
| Q1 24 | — | $4.2B |
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 | $60.3M | $-8.5M |
| Free Cash FlowOCF − Capex | $19.2M | — |
| FCF MarginFCF / Revenue | 6.8% | — |
| Capex IntensityCapex / Revenue | 14.7% | — |
| Cash ConversionOCF / Net Profit | 3.28× | — |
| TTM Free Cash FlowTrailing 4 quarters | $49.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-8.5M | ||
| Q3 25 | $60.3M | $-1.3M | ||
| Q2 25 | $38.6M | $-12.8M | ||
| Q1 25 | — | $-5.8M | ||
| Q4 24 | — | $-40.7M | ||
| Q3 24 | $48.9M | $-35.3M | ||
| Q2 24 | $38.4M | $30.7M | ||
| Q1 24 | — | $-15.4M |
| Q4 25 | — | — | ||
| Q3 25 | $19.2M | — | ||
| Q2 25 | $2.7M | $-19.1M | ||
| Q1 25 | — | $-20.2M | ||
| Q4 24 | — | $-46.2M | ||
| Q3 24 | $22.7M | $-42.0M | ||
| Q2 24 | $4.7M | $21.0M | ||
| Q1 24 | — | $-24.9M |
| Q4 25 | — | — | ||
| Q3 25 | 6.8% | — | ||
| Q2 25 | 0.8% | -8.5% | ||
| Q1 25 | — | -10.9% | ||
| Q4 24 | — | -21.9% | ||
| Q3 24 | 9.7% | -21.0% | ||
| Q2 24 | 1.8% | 9.1% | ||
| Q1 24 | — | -13.2% |
| Q4 25 | — | — | ||
| Q3 25 | 14.7% | — | ||
| Q2 25 | 10.8% | 2.8% | ||
| Q1 25 | — | 7.8% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | 11.2% | 3.4% | ||
| Q2 24 | 13.0% | 4.2% | ||
| Q1 24 | — | 5.1% |
| Q4 25 | — | — | ||
| Q3 25 | 3.28× | — | ||
| Q2 25 | 1.50× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.48× | — | ||
| Q2 24 | 2.74× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CAVA
| Restaurant Revenue | $278.2M | 99% |
| Rewards | $2.8M | 1% |
| CPG Revenue And Other | $2.4M | 1% |
TLRY
| Adultuse Cannabis Products | $62.4M | 29% |
| Other | $59.2M | 27% |
| Beverage Alcohol Business | $53.6M | 25% |
| International Cannabis Products | $20.2M | 9% |
| Wellness Business | $14.6M | 7% |
| Medical Cannabis Products | $6.2M | 3% |
| Wholesale Cannabis Products | $1.3M | 1% |
