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Cava Group cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$7.7M in Q3 2026 · $40.0M over twelve months

Operating cash flow$47.1M
Capital spending−$54.8M
Free cash flow−$7.7M
Cash / net income3.6×
Cash conversion cycle-5 days

Analysis

In Q3 2026, Cava Group generated $47.1M of operating cash flow and spent $54.8M on capital projects, leaving free cash flow of −$7.7M.

Over the twelve months to Oct 4, 2026, operating cash flow was $222M; the largest uses were capital spending ($182M), other investing ($31.9M); besides operations, cash came from other financing ($5.3M); the cash balance rose by $13.3M.

Operating cash flow was $47.1M against net income of $13.2M — 3.6× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$21.3M, deferred taxes +$5.5M, stock-based pay +$4.5M.

Its cash conversion cycle was -5 days (receivables 2 + inventory 3 − payables 10): suppliers fund its working capital.

Free cash flow

Cava Group: free cash flow by quarterCava Group: free cash flow by quarter$22.7MQ2 2024$23.4MQ3 2024$2.1MQ4 2024$19.2MQ2 2025$1.4MQ3 2025$2.9MQ4 2025$29.3MQ2 2026−$7.7MQ3 2026
Operating cash flow less capital spending.
Cava Group: operating cash flow against capital spendingCava Group: operating cash flow against capital spendingOperating cash flowCapital spending$48.9M$26.2MQ2 2024$43.9M$20.5MQ3 2024$29.9M$27.7MQ4 2024$60.3M$41.1MQ2 2025$45.6M$44.3MQ3 2025$40.3M$37.4MQ4 2025$70.5M$41.2MQ2 2026$47.1M$54.8MQ3 2026
Latest (Q3 2026): Operating cash flow $47.1M, Capital spending $54.8M.

Capital allocation, year by year

Cava Group: where the cash came from (up) and went (down), by fiscal yearCava Group: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingBuybacksFY2021: Operating cash flow $3.4MFY2021: Net borrowing −$40.0MFY2021: Shares issued $204MFY2021: Capital spending −$56.3MFY2021: Buybacks −$7.7M$207MFY2021FY2022: Operating cash flow $6.0MFY2022: Net borrowing −$115KFY2022: Capital spending −$104MFY2022: Buybacks −$911K$6.0MFY2022FY2023: Operating cash flow $97.1MFY2023: Net borrowing −$85KFY2023: Shares issued $343MFY2023: Capital spending −$139MFY2023: Buybacks −$3.1M$440MFY2023FY2024: Operating cash flow $161MFY2024: Net borrowing −$45KFY2024: Capital spending −$108M$161MFY2024FY2025: Operating cash flow $185MFY2025: Capital spending −$159M$185MFY2025
Over these 5 years operating cash flow totalled $452M; the largest uses were capital spending ($566M) and net borrowing ($40.2M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$283M
Debtnone
Net cash$283M

Cava Group funds itself: free cash flow was $40.0M over the last twelve months, with $283M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Cava Group: sources (+) and uses (−) of cash, Q3 2026Cava Group: sources (+) and uses (−) of cash, Q3 2026Capital spending−$54.8MOperating cash flow$47.1MCash drawn (+) / kept (−)$24.9MOther investing−$17.3MOther financing$146K
Cava Group: sources (+) and uses (−) of cash, TTM to Q3 2026Cava Group: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$222MCapital spending−$182MOther investing−$31.9MCash drawn (+) / kept (−)−$13.3MOther financing$5.3M

From profit to cash

Cava Group: net income to operating cash flow, Q3 2026Cava Group: net income to operating cash flow, Q3 2026Net income$13.2MDepreciation & amortization$21.3MStock-based pay$4.5MDeferred taxes$5.5MReceivables−$27KInventory$21KPayables−$3.4MAccrued liabilities$4.1MPrepaid and other assets$182KOperating cash flow$47.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20262310-5
Q2 20262311-6
Q4 20252313-8
Q3 20252312-7
Q2 20252312-7
Q4 20242412-7
Q3 20242311-5
Q2 20242310-4

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$47.1M−$54.8M—$24.9M−$7.7M
Q2 2026$70.5M−$41.2M—−$27.0M$29.3M
Q4 2025$40.3M−$37.4M—$1.7M$2.9M
Q3 2025$45.6M−$44.3M—$5.6M$1.4M
Q2 2025$60.3M−$41.1M—−$822K$19.2M
Q4 2024$29.9M−$27.7M—$1.0M$2.1M
Q3 2024$43.9M−$20.5M—−$23.4M$23.4M
Q2 2024$48.9M−$26.2M−$15K−$14.6M$22.7M

Cava Group: income statement and cash flow

Cava Group, Q3 2026: revenue $356M (+22% year over year), operating margin 4.2%. The chart follows the revenue to costs, profit and cash.

Cava Group: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.