CAVA Group, Inc. (CAVA)

Debt-to-equity ratio

		Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	726,174	695,566	616,437	595,437	580,810	570,802	565,723	555,809	211,267	213,805	213,805
Debt-to-equity ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

March 31, 2025 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $726,174K
= 0.00

The debt-to-equity ratio of CAVA Group, Inc. remains consistently at zero across all reported periods from September 30, 2022, through March 31, 2025. This indicates that the company has not utilized debt financing relative to its equity during this timeframe. A debt-to-equity ratio of zero suggests that CAVA Group, Inc. relies entirely on equity capital and has not incorporated debt into its financial structure, reflecting a conservative leverage profile. This financial positioning may imply a focus on maintaining financial stability without accruing liabilities, or it may indicate that the company's current operations are financed through equity or internal cash flows without external borrowing. The consistency of this ratio over the observed periods underscores a stable, debt-free capital structure during this timeframe.