Reported 7 months ago
Cava Group Inc., a Mediterranean-style chain dubbed the 'Mediterranean Chipotle,' experienced an extraordinary 300% surge in value since its IPO in June 2023, reaching a market valuation of over $10 billion. This high valuation equates to $33 million per each of its 323 restaurants, a figure far surpassing Chipotle's $3 million per restaurant valuation at a similar stage. Despite some analyst hesitation and insider stock selling, investors are still embracing Cava's growth potential and expensive price-to-earnings ratio at 185, reflecting the reopening of the global IPO market and the preference for fast-casual chains like Cava.
Source: YAHOO