Sweetgreen (SG) Financials

$7.38 -0.06 (-0.74%)

As of 12:30 PM Eastern

Annual Income Statements for Sweetgreen

This table shows Sweetgreen's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024
Period end date	12/27/2020	12/26/2021	12/25/2022	12/31/2023	12/29/2024
Net Income / (Loss) Attributable to Common Shareholders	-141	-153	-190	-113	-90
Consolidated Net Income / (Loss)	-141	-153	-190	-113	-90
Net Income / (Loss) Continuing Operations	-141	-153	-190	-113	-90
Total Pre-Tax Income	-141	-153	-189	-113	-92
Total Operating Income	-142	-134	-193	-122	-96
Total Gross Profit	-8.70	40	69	102	133
Total Revenue	221	340	470	584	677
Operating Revenue	221	340	470	584	677
Total Cost of Revenue	229	299	401	482	544
Operating Cost of Revenue	229	299	401	482	544
Total Operating Expenses	133	175	263	224	229
Selling, General & Admin Expense	99	125	187	147	150
Depreciation Expense	27	36	46	59	67
Impairment Charge	1.46	4.92	2.54	0.62	2.22
Restructuring Charge	0.00	0.00	14	7.44	2.28
Other Special Charges / (Income)	5.44	9.30	12	9.95	6.87
Total Other Income / (Expense), net	0.37	-19	4.24	9.34	4.03
Interest Expense	0.40	0.09	0.08	0.13	0.26
Interest & Investment Income	1.02	0.45	5.14	13	11
Other Income / (Expense), net	-0.25	-19	-0.82	-3.48	-6.66
Income Tax Expense	0.00	0.15	1.35	0.38	-1.30
Basic Earnings per Share	($8.80)	($5.51)	($1.73)	($1.01)	($0.79)
Weighted Average Basic Shares Outstanding	16.05M	27.78M	110.13M	111.91M	114.32M
Diluted Earnings per Share	($8.80)	($5.51)	($1.73)	($1.01)	($0.79)
Weighted Average Diluted Shares Outstanding	16.05M	27.78M	110.13M	111.91M	114.32M
Weighted Average Basic & Diluted Shares Outstanding	-	-	111.40M	112.98M	117.30M

This table shows Sweetgreen's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/25/2022	12/25/2022	3/26/2023	6/25/2023	9/24/2023	12/31/2023	3/31/2024	6/30/2024	9/29/2024	12/29/2024	3/30/2025
Net Income / (Loss) Attributable to Common Shareholders	-51	-49	-34	-27	-25	-27	-26	-14	-21	-29	-25
Consolidated Net Income / (Loss)	-51	-49	-34	-27	-25	-27	-26	-14	-21	-29	-25
Net Income / (Loss) Continuing Operations	-51	-49	-34	-27	-25	-27	-26	-14	-21	-29	-25
Total Pre-Tax Income	-51	-48	-33	-27	-25	-28	-26	-14	-21	-31	-25
Total Operating Income	-53	-48	-35	-31	-26	-29	-27	-16	-21	-31	-29
Total Gross Profit	20	13	17	31	29	25	29	42	35	28	30
Total Revenue	124	119	125	153	153	153	158	185	173	161	166
Operating Revenue	124	119	125	153	153	153	158	185	173	161	166
Total Cost of Revenue	104	106	108	121	124	128	129	143	138	133	137
Operating Cost of Revenue	104	106	108	121	124	128	129	143	138	133	137
Total Operating Expenses	73	61	52	62	56	54	55	58	56	59	58
Selling, General & Admin Expense	42	43	35	40	36	36	37	39	37	37	38
Depreciation Expense	12	13	13	15	16	16	16	17	17	17	17
Impairment Charge	1.72	0.62	0.19	0.16	0.13	0.15	0.16	0.12	0.11	1.83	0.09
Restructuring Charge	14	0.18	0.64	5.00	0.81	0.99	0.51	0.49	0.50	0.78	0.91
Other Special Charges / (Income)	3.08	3.67	3.41	2.31	3.01	1.21	1.50	1.15	1.82	2.40	1.78
Total Other Income / (Expense), net	1.92	-0.26	1.98	4.31	1.75	1.30	0.94	1.81	0.45	0.83	3.59
Interest Expense	0.02	0.02	0.02	0.02	0.02	0.07	0.02	0.20	0.03	0.01	0.00
Interest & Investment Income	1.64	2.74	3.06	3.25	3.38	3.25	3.02	2.92	2.75	2.25	1.90
Other Income / (Expense), net	0.30	-2.99	-1.06	1.07	-1.61	-1.88	-2.06	-0.91	-2.28	-1.41	1.69
Income Tax Expense	0.02	1.29	0.32	0.32	0.32	-0.58	0.09	0.09	0.09	-1.57	0.09
Basic Earnings per Share	($0.46)	($0.45)	($0.30)	($0.24)	($0.22)	($0.25)	($0.23)	($0.13)	($0.18)	($0.25)	($0.21)
Weighted Average Basic Shares Outstanding	110.38M	110.13M	111.30M	111.59M	112.18M	111.91M	112.77M	113.58M	114.75M	114.32M	117.31M
Diluted Earnings per Share	($0.46)	($0.45)	($0.30)	($0.24)	($0.22)	($0.25)	($0.23)	($0.13)	($0.18)	($0.25)	($0.21)
Weighted Average Diluted Shares Outstanding	110.38M	110.13M	111.30M	111.59M	112.18M	111.91M	112.77M	113.58M	114.75M	114.32M	117.31M
Weighted Average Basic & Diluted Shares Outstanding	110.80M	111.40M	111.45M	111.96M	112.43M	112.98M	113.31M	114.14M	115.67M	117.30M	117.68M

This table details how cash moves in and out of Sweetgreen's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024
Period end date	12/27/2020	12/26/2021	12/25/2022	12/31/2023	12/29/2024
Net Change in Cash & Equivalents	-147	370	-141	-74	-40
Net Cash From Operating Activities	-90	-65	-43	26	43
Net Cash From Continuing Operating Activities	-90	-65	-43	26	43
Net Income / (Loss) Continuing Operations	-141	-153	-190	-113	-90
Consolidated Net Income / (Loss)	-141	-153	-190	-113	-90
Depreciation Expense	27	36	46	59	67
Amortization Expense	0.44	0.50	0.44	1.03	1.08
Non-Cash Adjustments To Reconcile Net Income	4.58	38	109	85	73
Changes in Operating Assets and Liabilities, net	19	15	-8.72	-5.36	-7.95
Net Cash From Investing Activities	-58	-98	-102	-96	-92
Net Cash From Continuing Investing Activities	-58	-98	-102	-96	-92
Purchase of Property, Plant & Equipment	-48	-85	-97	-90	-84
Acquisitions	-10	-13	-5.38	-6.12	-7.74
Other Investing Activities, net	0.03	0.25	0.24	0.12	-0.01
Net Cash From Financing Activities	2.15	532	4.63	-5.20	8.90
Net Cash From Continuing Financing Activities	2.15	532	4.63	-5.20	8.90
Repayment of Debt	-15	0.00	-0.13	0.00	0.00
Other Financing Activities, net	2.15	26	4.76	-5.20	8.90
Cash Interest Paid	0.38	0.00	0.00	0.05	0.18

This table details how cash moves in and out of Sweetgreen's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/25/2022	12/25/2022	3/26/2023	6/25/2023	9/24/2023	12/31/2023	3/31/2024	6/30/2024	9/29/2024	12/29/2024	3/30/2025
Net Change in Cash & Equivalents	-26	-49	-35	-16	-5.59	-18	-13	1.28	-7.90	-20	-31
Net Cash From Operating Activities	-6.70	-17	-3.13	7.95	13	8.92	3.43	19	15	6.12	-13
Net Cash From Continuing Operating Activities	-6.70	-17	-3.13	7.95	13	8.92	3.43	19	15	6.12	-13
Net Income / (Loss) Continuing Operations	-51	-49	-34	-27	-25	-27	-26	-14	-21	-29	-25
Consolidated Net Income / (Loss)	-51	-49	-34	-27	-25	-27	-26	-14	-21	-29	-25
Depreciation Expense	12	13	13	15	16	16	16	17	17	17	17
Amortization Expense	0.05	0.26	0.26	0.24	0.26	0.27	0.27	0.27	0.27	0.27	0.27
Non-Cash Adjustments To Reconcile Net Income	36	15	27	31	-7.35	34	17	19	18	19	19
Changes in Operating Assets and Liabilities, net	-3.25	3.47	-9.81	-11	29	-14	-4.64	-2.35	0.43	-1.39	-24
Net Cash From Investing Activities	-20	-33	-32	-26	-21	-16	-15	-21	-27	-29	-19
Net Cash From Continuing Investing Activities	-20	-33	-32	-26	-21	-16	-15	-21	-27	-29	-19
Purchase of Property, Plant & Equipment	-19	-31	-31	-25	-19	-15	-13	-19	-25	-27	-17
Acquisitions	-0.99	-1.82	-1.53	-1.05	-1.89	-1.65	-1.61	-1.98	-1.87	-2.28	-2.50
Other Investing Activities, net	-0.00	0.08	0.01	-0.12	0.08	0.15	0.00	-	-0.00	-0.01	0.10
Net Cash From Financing Activities	1.05	0.65	0.72	1.62	2.60	-10	-1.88	3.41	4.30	3.06	1.43
Net Cash From Continuing Financing Activities	1.05	0.65	0.72	1.62	2.60	-10	-1.88	3.41	4.30	3.06	1.43
Repurchase of Common Equity	-	-	-0.04	-0.12	-0.00	-	0.00	-	-	-	-0.26
Other Financing Activities, net	1.05	0.78	0.77	1.74	2.60	-10	-1.88	3.41	4.30	3.06	1.68

This table presents Sweetgreen's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024
Period end date	12/26/2021	12/25/2022	12/31/2023	12/29/2024
Total Assets	763	909	857	857
Total Current Assets	507	346	276	235
Cash & Equivalents	472	332	257	215
Accounts Receivable	2.64	3.24	3.50	5.03
Inventories, net	0.90	1.38	2.07	1.99
Prepaid Expenses	14	8.16	5.77	7.84
Other Current Assets	17	1.75	7.45	4.88
Plant, Property, & Equipment, net	181	235	267	296
Total Noncurrent Assets	75	328	313	326
Goodwill	36	36	36	36
Intangible Assets	33	31	27	24
Other Noncurrent Operating Assets	6.49	261	250	266
Total Liabilities & Shareholders' Equity	763	909	857	857
Total Liabilities	110	368	374	411
Total Current Liabilities	48	73	92	116
Accounts Payable	11	12	17	19
Accrued Expenses	16	22	21	27
Current Deferred Revenue	6.06	2.02	2.80	4.41
Current Employee Benefit Liabilities	12	6.58	13	15
Other Current Liabilities	1.84	30	37	51
Total Noncurrent Liabilities	62	295	282	295
Noncurrent Deferred & Payable Income Tax Liabilities	0.13	1.41	1.77	0.36
Other Noncurrent Operating Liabilities	21	294	281	294
Commitments & Contingencies	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	653	541	483	446
Total Preferred & Common Equity	653	541	483	446
Total Common Equity	653	541	483	446
Common Stock	1,129	1,213	1,268	1,322
Retained Earnings	-476	-672	-785	-875

This table presents Sweetgreen's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	9/25/2022	3/26/2023	6/25/2023	9/24/2023	3/31/2024	6/30/2024	9/29/2024	3/30/2025
Total Assets	700	896	887	880	843	859	858	834
Total Current Assets	413	319	306	299	264	266	255	206
Cash & Equivalents	381	297	280	275	244	245	235	184
Accounts Receivable	4.58	5.06	7.82	9.89	5.59	6.49	7.14	7.91
Inventories, net	1.20	1.28	3.15	3.35	1.85	2.04	2.10	2.12
Prepaid Expenses	10	7.54	7.61	5.98	6.77	7.57	6.43	7.29
Other Current Assets	17	8.14	7.49	4.71	5.62	5.10	4.92	4.86
Plant, Property, & Equipment, net	208	247	260	264	267	276	285	298
Total Noncurrent Assets	78	330	321	317	311	317	317	330
Goodwill	36	36	36	36	36	36	36	36
Intangible Assets	31	30	29	29	26	26	25	24
Other Noncurrent Operating Assets	12	264	255	252	249	256	257	270
Total Liabilities & Shareholders' Equity	700	896	887	880	843	859	858	834
Total Liabilities	117	373	376	380	372	389	395	402
Total Current Liabilities	48	73	78	81	87	98	99	105
Accounts Payable	8.69	13	15	14	20	22	18	18
Accrued Expenses	17	21	21	21	22	25	28	26
Current Deferred Revenue	7.10	-	1.82	1.83	3.14	3.38	3.67	4.70
Current Employee Benefit Liabilities	11	8.76	11	14	10	14	14	9.19
Other Current Liabilities	3.82	31	30	31	32	34	35	47
Total Noncurrent Liabilities	69	300	298	298	285	291	296	297
Noncurrent Deferred & Payable Income Tax Liabilities	0.18	1.73	2.05	2.37	1.86	1.95	2.04	0.45
Other Noncurrent Operating Liabilities	19	298	296	296	283	289	294	296
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	583	523	511	500	470	470	463	433
Total Preferred & Common Equity	583	523	511	500	470	470	463	433
Total Common Equity	583	523	511	500	470	470	463	433
Common Stock	1,196	1,228	1,244	1,258	1,281	1,296	1,310	1,333
Retained Earnings	-613	-705	-733	-758	-811	-826	-846	-900

This table displays calculated financial ratios and metrics derived from Sweetgreen's official financial filings.

Metric	2020	2021	2022	2023	2024
Period end date	12/27/2020	12/26/2021	12/25/2022	12/31/2023	12/29/2024
Growth Metrics	-	-	-	-	-
Revenue Growth	0.00%	54.06%	38.32%	24.24%	15.89%
EBITDA Growth	0.00%	-2.44%	-25.48%	55.65%	48.03%
EBIT Growth	0.00%	-8.15%	-26.58%	35.20%	18.65%
NOPAT Growth	0.00%	5.08%	-43.85%	36.72%	21.77%
Net Income Growth	0.00%	-8.46%	-24.33%	40.46%	20.29%
EPS Growth	0.00%	37.39%	68.60%	41.62%	21.78%
Operating Cash Flow Growth	0.00%	28.58%	33.10%	161.34%	63.86%
Free Cash Flow Firm Growth	0.00%	0.00%	40.48%	38.42%	27.14%
Invested Capital Growth	0.00%	0.00%	15.71%	7.27%	2.89%
Revenue Q/Q Growth	0.00%	0.00%	4.94%	6.27%	1.18%
EBITDA Q/Q Growth	0.00%	0.00%	11.01%	26.14%	-1.71%
EBIT Q/Q Growth	0.00%	0.00%	7.38%	13.44%	-1.66%
NOPAT Q/Q Growth	0.00%	0.00%	0.04%	13.09%	-2.29%
Net Income Q/Q Growth	0.00%	0.00%	8.16%	16.15%	-1.82%
EPS Q/Q Growth	0.00%	0.00%	8.47%	16.53%	0.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	20.09%	28,070.21%	-6.07%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	17.13%	-7.88%
Invested Capital Q/Q Growth	0.00%	0.00%	3.56%	-0.33%	1.37%
Profitability Metrics	-	-	-	-	-
Gross Margin	-3.94%	11.89%	14.74%	17.45%	19.64%
EBITDA Margin	-51.92%	-34.53%	-31.32%	-11.18%	-5.01%
Operating Margin	-64.18%	-39.54%	-41.13%	-20.95%	-14.14%
EBIT Margin	-64.29%	-45.13%	-41.30%	-21.54%	-15.12%
Profit (Net Income) Margin	-64.01%	-45.07%	-40.51%	-19.41%	-13.35%
Tax Burden Percent	100.00%	100.10%	100.71%	100.34%	98.58%
Interest Burden Percent	99.57%	99.76%	97.39%	89.82%	89.56%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-103.87%	-69.27%	-39.42%	-29.37%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-78.83%	-55.55%	-30.01%	-19.47%
Return on Net Nonoperating Assets (RNNOA)	0.00%	56.97%	37.38%	17.27%	9.91%
Return on Equity (ROE)	0.00%	-46.91%	-31.89%	-22.15%	-19.46%
Cash Return on Invested Capital (CROIC)	0.00%	-303.87%	-83.84%	-46.44%	-32.22%
Operating Return on Assets (OROA)	0.00%	-20.11%	-23.23%	-14.25%	-11.95%
Return on Assets (ROA)	0.00%	-20.08%	-22.79%	-12.84%	-10.55%
Return on Common Equity (ROCE)	0.00%	-46.91%	-31.89%	-22.15%	-19.46%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-23.45%	-35.19%	-23.49%	-20.26%
Net Operating Profit after Tax (NOPAT)	-99	-94	-135	-86	-67
NOPAT Margin	-44.93%	-27.68%	-28.79%	-14.66%	-9.90%
Net Nonoperating Expense Percent (NNEP)	0.00%	-25.04%	-13.71%	-9.41%	-9.90%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-25.01%	-17.75%	-15.02%
Cost of Revenue to Revenue	103.94%	88.11%	85.26%	82.55%	80.36%
SG&A Expenses to Revenue	44.94%	36.79%	39.86%	25.13%	22.15%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	60.24%	51.43%	55.86%	38.40%	33.78%
Earnings before Interest and Taxes (EBIT)	-142	-153	-194	-126	-102
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-115	-117	-147	-65	-34
Valuation Ratios	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.62	1.81	2.63	8.39
Price to Tangible Book Value (P/TBV)	0.00	0.70	2.06	3.03	9.70
Price to Revenue (P/Rev)	1.65	1.20	2.08	2.18	5.53
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	3.09	4.51	15.26
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	1.38	1.73	5.21
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	38.26	81.34
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00
Financial Leverage	0.00	-0.72	-0.67	-0.58	-0.51
Leverage Ratio	0.00	1.17	1.40	1.72	1.84
Compound Leverage Factor	0.00	1.16	1.36	1.55	1.65
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	0.00	1.86	0.74	1.21	4.60
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-
Current Ratio	0.00	10.66	4.77	3.02	2.02
Quick Ratio	0.00	9.99	4.62	2.85	1.90
Cash Flow Metrics	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-275	-164	-101	-74
Operating Cash Flow to CapEx	-187.66%	-76.36%	-44.56%	29.53%	51.38%
Free Cash Flow to Firm to Interest Expense	0.00	-3,163.51	-1,973.52	-788.10	-287.11
Operating Cash Flow to Interest Expense	-223.64	-741.71	-520.11	206.88	169.49
Operating Cash Flow Less CapEx to Interest Expense	-342.82	-1,713.10	-1,687.45	-493.69	-160.42
Efficiency Ratios	-	-	-	-	-
Asset Turnover	0.00	0.45	0.56	0.66	0.79
Accounts Receivable Turnover	0.00	128.55	159.68	173.15	158.58
Inventory Turnover	0.00	331.64	350.67	279.33	268.18
Fixed Asset Turnover	0.00	1.88	2.26	2.33	2.40
Accounts Payable Turnover	0.00	26.75	34.20	32.55	30.15
Days Sales Outstanding (DSO)	0.00	2.84	2.29	2.11	2.30
Days Inventory Outstanding (DIO)	0.00	1.10	1.04	1.31	1.36
Days Payable Outstanding (DPO)	0.00	13.65	10.67	11.21	12.11
Cash Conversion Cycle (CCC)	0.00	-9.71	-7.35	-7.80	-8.44
Capital & Investment Metrics	-	-	-	-	-
Invested Capital	0.00	181	210	225	231
Invested Capital Turnover	0.00	3.75	2.41	2.69	2.97
Increase / (Decrease) in Invested Capital	0.00	181	28	15	6.51
Enterprise Value (EV)	0.00	-64	647	1,013	3,529
Market Capitalization	364	408	978	1,270	3,744
Book Value per Share	$0.00	$23.51	$4.88	$4.29	$3.86
Tangible Book Value per Share	$0.00	$21.03	$4.28	$3.73	$3.34
Total Capital	0.00	653	541	483	446
Total Debt	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00
Net Debt	0.00	-472	-332	-257	-215
Capital Expenditures (CapEx)	48	85	97	90	84
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-13	-58	-73	-96
Debt-free Net Working Capital (DFNWC)	0.00	459	274	185	119
Net Working Capital (NWC)	0.00	459	274	185	119
Net Nonoperating Expense (NNE)	42	59	55	28	23
Net Nonoperating Obligations (NNO)	0.00	-472	-332	-258	-215
Total Depreciation and Amortization (D&A)	27	36	47	61	68
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-3.78%	-12.34%	-12.45%	-14.20%
Debt-free Net Working Capital to Revenue	0.00%	135.09%	58.20%	31.60%	17.54%
Net Working Capital to Revenue	0.00%	135.09%	58.20%	31.60%	17.54%
Earnings Adjustments	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	($1.01)	($0.79)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	111.91M	114.32M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	($1.01)	($0.79)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	111.91M	114.32M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	112.98M	117.30M
Normalized Net Operating Profit after Tax (NOPAT)	-94	-84	-115	-73	-59
Normalized NOPAT Margin	-42.74%	-24.75%	-24.50%	-12.50%	-8.72%
Pre Tax Income Margin	-64.01%	-45.02%	-40.22%	-19.35%	-13.54%
Debt Service Ratios	-	-	-	-	-
EBIT to Interest Expense	-351.08	-1,763.11	-2,339.23	-982.96	-399.84
NOPAT to Interest Expense	-245.33	-1,081.37	-1,630.55	-669.07	-261.69
EBIT Less CapEx to Interest Expense	-470.26	-2,734.51	-3,506.57	-1,683.52	-729.75
NOPAT Less CapEx to Interest Expense	-364.51	-2,052.76	-2,797.89	-1,369.63	-591.60
Payout Ratios	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Sweetgreen's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/25/2022	12/25/2022	3/26/2023	6/25/2023	9/24/2023	12/31/2023	3/31/2024	6/30/2024	9/29/2024	12/29/2024	3/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	29.40%	22.96%	21.90%	22.10%	23.71%	29.06%	26.22%	21.06%	13.04%	5.15%	5.36%
EBITDA Growth	-96.73%	32.49%	41.01%	48.10%	70.14%	61.09%	46.64%	99.44%	48.34%	-3.89%	22.79%
EBIT Growth	-74.72%	23.38%	26.91%	26.51%	46.61%	38.52%	20.36%	43.35%	16.53%	-5.36%	7.32%
NOPAT Growth	-63.79%	0.14%	29.39%	26.78%	49.96%	38.61%	23.80%	48.20%	20.06%	-7.31%	-6.03%
Net Income Growth	-69.72%	25.57%	32.21%	32.70%	50.90%	44.35%	22.55%	46.95%	16.92%	-5.89%	3.94%
EPS Growth	70.89%	26.23%	33.33%	35.14%	52.17%	44.44%	23.33%	45.83%	18.18%	0.00%	8.70%
Operating Cash Flow Growth	22.36%	38.33%	81.90%	564.70%	289.99%	151.11%	209.46%	140.42%	15.66%	-31.43%	-483.19%
Free Cash Flow Firm Growth	0.00%	0.00%	73.37%	79.97%	82.57%	42.23%	68.13%	86.29%	58.15%	20.23%	-121.60%
Invested Capital Growth	0.00%	15.71%	18.55%	12.29%	11.46%	7.27%	0.13%	-2.12%	1.17%	2.89%	9.92%
Revenue Q/Q Growth	-0.71%	-4.40%	5.48%	21.96%	0.59%	-0.26%	3.15%	16.97%	-6.07%	-7.22%	3.36%
EBITDA Q/Q Growth	-37.01%	7.04%	39.18%	33.00%	21.17%	-21.13%	16.59%	99.30%	-7,200.00%	-143.60%	38.00%
EBIT Q/Q Growth	-28.19%	3.67%	28.24%	17.06%	6.87%	-10.92%	7.04%	41.01%	-37.21%	-40.01%	18.23%
NOPAT Q/Q Growth	-24.04%	9.86%	25.97%	11.54%	15.23%	-10.58%	8.11%	39.87%	-30.84%	-48.43%	9.20%
Net Income Q/Q Growth	-25.98%	3.47%	31.67%	19.01%	8.08%	-9.42%	4.91%	44.53%	-43.96%	-39.46%	13.75%
EPS Q/Q Growth	-24.32%	2.17%	33.33%	20.00%	8.33%	-13.64%	8.00%	43.48%	-38.46%	-38.89%	16.00%
Operating Cash Flow Q/Q Growth	-291.76%	-160.51%	82.08%	354.03%	60.17%	-29.93%	-61.61%	457.97%	-22.95%	-58.46%	-314.54%
Free Cash Flow Firm Q/Q Growth	-1.86%	74.16%	2.95%	21.57%	11.39%	14.36%	47.22%	66.27%	-170.54%	-63.26%	-48.75%
Invested Capital Q/Q Growth	-1.37%	3.56%	7.69%	2.08%	-2.10%	-0.33%	0.29%	-0.21%	1.19%	1.37%	7.39%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	16.07%	10.81%	13.54%	20.38%	18.98%	16.19%	18.08%	22.49%	20.15%	17.37%	17.85%
EBITDA Margin	-32.81%	-31.91%	-18.40%	-10.11%	-7.92%	-9.62%	-7.78%	-0.05%	-3.62%	-9.50%	-5.70%
Operating Margin	-42.68%	-40.24%	-28.24%	-20.49%	-17.26%	-19.14%	-17.05%	-8.77%	-12.21%	-19.53%	-17.16%
EBIT Margin	-42.43%	-42.76%	-29.09%	-19.78%	-18.31%	-20.37%	-18.36%	-9.26%	-13.52%	-20.41%	-16.15%
Profit (Net Income) Margin	-41.14%	-41.54%	-26.91%	-17.87%	-16.33%	-17.91%	-16.51%	-7.83%	-12.00%	-18.04%	-15.06%
Tax Burden Percent	100.04%	102.68%	100.95%	101.18%	101.29%	97.95%	100.35%	100.63%	100.43%	94.87%	100.36%
Interest Burden Percent	96.92%	94.63%	91.64%	89.29%	88.04%	89.80%	89.66%	84.07%	88.37%	93.18%	92.91%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-132.24%	-67.77%	-46.80%	-34.25%	-31.04%	-36.02%	-32.59%	-17.46%	-25.20%	-40.57%	-34.70%
ROIC Less NNEP Spread (ROIC-NNEP)	-124.90%	-63.83%	-44.37%	-32.68%	-29.05%	-33.68%	-29.92%	-16.27%	-22.84%	-37.60%	-32.33%
Return on Net Nonoperating Assets (RNNOA)	81.57%	42.94%	28.31%	20.01%	17.58%	19.39%	16.31%	8.71%	12.09%	19.13%	15.34%
Return on Equity (ROE)	-50.67%	-24.83%	-18.50%	-14.24%	-13.46%	-16.64%	-16.29%	-8.75%	-13.11%	-21.44%	-19.35%
Cash Return on Invested Capital (CROIC)	0.00%	-83.84%	-77.07%	-65.31%	-56.88%	-46.44%	-35.44%	-28.22%	-30.03%	-32.22%	-38.17%
Operating Return on Assets (OROA)	-27.15%	-24.05%	-17.54%	-12.74%	-12.74%	-13.48%	-13.03%	-6.88%	-10.41%	-16.12%	-13.20%
Return on Assets (ROA)	-26.32%	-23.37%	-16.23%	-11.51%	-11.36%	-11.85%	-11.72%	-5.82%	-9.24%	-14.25%	-12.30%
Return on Common Equity (ROCE)	-50.67%	-24.83%	-18.50%	-14.24%	-13.46%	-16.64%	-16.29%	-8.75%	-13.11%	-21.44%	-19.35%
Return on Equity Simple (ROE_SIMPLE)	-35.54%	0.00%	-33.38%	-31.53%	-27.03%	0.00%	-22.50%	-19.78%	-19.16%	0.00%	-20.65%
Net Operating Profit after Tax (NOPAT)	-37	-33	-25	-22	-19	-21	-19	-11	-15	-22	-20
NOPAT Margin	-29.87%	-28.17%	-19.77%	-14.34%	-12.08%	-13.40%	-11.94%	-6.14%	-8.55%	-13.67%	-12.01%
Net Nonoperating Expense Percent (NNEP)	-7.34%	-3.95%	-2.44%	-1.57%	-1.99%	-2.35%	-2.67%	-1.19%	-2.35%	-2.98%	-2.36%
Return On Investment Capital (ROIC_SIMPLE)	-	-6.17%	-	-	-	-4.25%	-	-	-	-4.93%	-4.62%
Cost of Revenue to Revenue	83.93%	89.19%	86.46%	79.62%	81.03%	83.81%	81.92%	77.51%	79.85%	82.63%	82.15%
SG&A Expenses to Revenue	33.79%	36.66%	27.91%	26.45%	23.44%	23.23%	23.35%	21.23%	21.21%	23.06%	23.05%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	58.75%	51.05%	41.79%	40.87%	36.24%	35.33%	35.13%	31.25%	32.36%	36.91%	35.01%
Earnings before Interest and Taxes (EBIT)	-53	-51	-36	-30	-28	-31	-29	-17	-23	-33	-27
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-41	-38	-23	-15	-12	-15	-12	-0.09	-6.28	-15	-9.48
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.17	1.81	1.38	2.37	2.57	2.63	6.07	7.26	8.86	8.39	6.92
Price to Tangible Book Value (P/TBV)	3.58	2.06	1.58	2.72	2.95	3.03	7.00	8.36	10.19	9.70	8.03
Price to Revenue (P/Rev)	4.13	2.08	1.47	2.33	2.34	2.18	4.63	5.26	6.13	5.53	4.37
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	7.26	3.09	1.89	4.05	4.48	4.51	11.55	14.06	16.95	15.26	11.31
Enterprise Value to Revenue (EV/Rev)	3.28	1.38	0.87	1.79	1.84	1.73	4.23	4.89	5.78	5.21	4.10
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	10,751.20	38.26	79.01	71.73	83.75	81.34	104.74
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.65	-0.67	-0.64	-0.61	-0.61	-0.58	-0.55	-0.54	-0.53	-0.51	-0.47
Leverage Ratio	1.20	1.40	1.42	1.44	1.46	1.72	1.75	1.78	1.80	1.84	1.86
Compound Leverage Factor	1.16	1.32	1.30	1.28	1.28	1.55	1.57	1.50	1.59	1.72	1.73
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	9.30	1.26	0.80	1.56	1.64	1.58	4.12	4.85	5.77	4.87	3.82
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	8.68	4.77	4.35	3.93	3.68	3.02	3.02	2.72	2.59	2.02	1.97
Quick Ratio	8.10	4.62	4.12	3.69	3.51	2.85	2.86	2.57	2.45	1.90	1.83
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-239	-62	-60	-47	-42	-36	-19	-6.45	-17	-29	-42
Operating Cash Flow to CapEx	-34.64%	-56.49%	-10.14%	31.92%	66.62%	60.35%	25.55%	99.19%	58.78%	22.90%	-78.46%
Free Cash Flow to Firm to Interest Expense	-10,411.07	-4,124.25	-2,859.07	-2,616.18	-2,196.26	-510.55	-1,007.24	-32.77	-671.63	-2,036.36	0.00
Operating Cash Flow to Interest Expense	-291.43	-1,164.13	-149.05	441.72	670.26	127.49	180.32	97.04	566.50	437.07	0.00
Operating Cash Flow Less CapEx to Interest Expense	-1,132.83	-3,224.87	-1,618.57	-942.00	-335.89	-83.77	-525.47	-0.79	-397.23	-1,471.36	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.64	0.56	0.60	0.64	0.70	0.66	0.71	0.74	0.77	0.79	0.82
Accounts Receivable Turnover	97.83	159.68	110.75	91.83	75.96	173.15	115.79	90.70	78.55	158.58	101.51
Inventory Turnover	315.44	350.67	374.77	206.34	202.03	279.33	320.78	202.58	197.82	268.18	277.46
Fixed Asset Turnover	2.15	2.26	2.25	2.22	2.33	2.33	2.40	2.42	2.43	2.40	2.42
Accounts Payable Turnover	43.64	34.20	31.15	30.29	41.23	32.55	30.65	28.96	33.97	30.15	28.94
Days Sales Outstanding (DSO)	3.73	2.29	3.30	3.97	4.81	2.11	3.15	4.02	4.65	2.30	3.60
Days Inventory Outstanding (DIO)	1.16	1.04	0.97	1.77	1.81	1.31	1.14	1.80	1.85	1.36	1.32
Days Payable Outstanding (DPO)	8.36	10.67	11.72	12.05	8.85	11.21	11.91	12.60	10.74	12.11	12.61
Cash Conversion Cycle (CCC)	-3.48	-7.35	-7.45	-6.31	-2.24	-7.80	-7.62	-6.78	-4.25	-8.44	-7.70
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	202	210	226	230	226	225	226	226	228	231	248
Invested Capital Turnover	4.43	2.41	2.37	2.39	2.57	2.69	2.73	2.85	2.95	2.97	2.89
Increase / (Decrease) in Invested Capital	202	28	35	25	23	15	0.30	-4.87	2.64	6.51	22
Enterprise Value (EV)	1,470	647	426	932	1,011	1,013	2,610	3,171	3,869	3,529	2,811
Market Capitalization	1,851	978	723	1,213	1,285	1,270	2,854	3,415	4,103	3,744	2,995
Book Value per Share	$5.30	$4.88	$4.69	$4.59	$4.47	$4.29	$4.16	$4.15	$4.06	$3.86	$3.69
Tangible Book Value per Share	$4.69	$4.28	$4.10	$4.00	$3.89	$3.73	$3.61	$3.61	$3.53	$3.34	$3.18
Total Capital	583	541	523	511	500	483	470	470	463	446	433
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-381	-332	-297	-280	-275	-257	-244	-245	-235	-215	-184
Capital Expenditures (CapEx)	19	31	31	25	19	15	13	19	25	27	17
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-15	-58	-51	-52	-57	-73	-67	-76	-78	-96	-83
Debt-free Net Working Capital (DFNWC)	366	274	246	228	218	185	176	168	157	119	101
Net Working Capital (NWC)	366	274	246	228	218	185	176	168	157	119	101
Net Nonoperating Expense (NNE)	14	16	8.93	5.39	6.51	6.91	7.23	3.13	5.99	7.03	5.06
Net Nonoperating Obligations (NNO)	-381	-332	-297	-281	-275	-258	-244	-245	-235	-215	-184
Total Depreciation and Amortization (D&A)	12	13	13	15	16	16	17	17	17	18	17
Debt-free, Cash-free Net Working Capital to Revenue	-3.38%	-12.34%	-10.40%	-9.98%	-10.40%	-12.45%	-10.93%	-11.78%	-11.64%	-14.20%	-12.05%
Debt-free Net Working Capital to Revenue	81.68%	58.20%	49.86%	43.91%	39.60%	31.60%	28.59%	25.91%	23.44%	17.54%	14.79%
Net Working Capital to Revenue	81.68%	58.20%	49.86%	43.91%	39.60%	31.60%	28.59%	25.91%	23.44%	17.54%	14.79%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.43)	($0.45)	($0.30)	($0.24)	($0.22)	($0.25)	($0.23)	($0.13)	($0.18)	($0.25)	($0.21)
Adjusted Weighted Average Basic Shares Outstanding	110.38M	110.13M	111.30M	111.59M	112.18M	111.91M	112.77M	113.58M	114.75M	114.32M	117.31M
Adjusted Diluted Earnings per Share	($0.43)	($0.45)	($0.30)	($0.24)	($0.22)	($0.25)	($0.23)	($0.13)	($0.18)	($0.25)	($0.21)
Adjusted Weighted Average Diluted Shares Outstanding	110.38M	110.13M	111.30M	111.59M	112.18M	111.91M	112.77M	113.58M	114.75M	114.32M	117.31M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	110.80M	111.40M	111.45M	111.96M	112.43M	112.98M	113.31M	114.14M	115.67M	117.30M	117.68M
Normalized Net Operating Profit after Tax (NOPAT)	-24	-30	-22	-17	-16	-19	-17	-10	-13	-18	-18
Normalized NOPAT Margin	-19.11%	-25.53%	-17.40%	-10.91%	-10.28%	-12.32%	-10.98%	-5.47%	-7.56%	-11.50%	-10.84%
Pre Tax Income Margin	-41.13%	-40.46%	-26.66%	-17.66%	-16.12%	-18.29%	-16.46%	-7.78%	-11.95%	-19.02%	-15.00%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-2,288.17	-3,379.73	-1,732.38	-1,676.28	-1,478.89	-445.24	-1,524.95	-86.77	-902.08	-2,345.64	0.00
NOPAT to Interest Expense	-1,610.94	-2,226.51	-1,177.40	-1,215.12	-975.84	-292.89	-991.61	-57.51	-570.10	-1,571.50	0.00
EBIT Less CapEx to Interest Expense	-3,129.57	-5,440.47	-3,201.90	-3,060.00	-2,485.05	-656.50	-2,230.74	-184.59	-1,865.81	-4,254.07	0.00
NOPAT Less CapEx to Interest Expense	-2,452.33	-4,287.25	-2,646.92	-2,598.84	-1,981.99	-504.15	-1,697.39	-155.33	-1,533.83	-3,479.93	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Sweetgreen (NYSE: SG) Financial Overview (Q1 2022 - Q1 2025)

Sweetgreen has consistently reported growing revenues over the past few years, reaching $166.3 million in Q1 2025, up from $125.1 million in Q1 2023 and $118.6 million in Q4 2022. However, the company remains unprofitable with net losses continuing each quarter, including a net loss of $25.0 million in Q1 2025.

Revenue growth: Operating revenue increased from $125.1 million in Q1 2023 to $166.3 million in Q1 2025, demonstrating top-line growth and potential market expansion.
Strong cash position: Despite losses, Sweetgreen ended Q1 2025 with $183.9 million in cash & equivalents, providing liquidity for operations and investment.
Increasing gross profit: Total gross profit improved from $16.9 million in Q1 2023 to $29.7 million in Q1 2025, indicating improving operational efficiency at the revenue generation level.
Substantial investment in assets: The company has been investing heavily in property, plant, & equipment, with net PPE rising to $298.2 million by Q1 2025, suggesting capacity expansion and infrastructure growth.
Stable share count: Weighted average diluted shares outstanding remained around 111-117 million shares without large dilution, implying steady shareholder base.
Consistent operating expenses: Selling, General & Admin expenses have fluctuated modestly but remain elevated, at $38.3 million in Q1 2025, indicating sustained investment in operations and sales efforts.
Continued net losses: The company has a persistent net loss trend, with Q1 2025 loss of $25.0 million, though slightly improved from $26.1 million loss two years earlier.
Operating loss trend: Total operating income remains negative, with -$28.5 million in Q1 2025, indicating ongoing challenges in reaching profitability at the operational level.
Negative cash flow from operations in recent quarters: Q1 2025 operating cash flow was negative $13.1 million, showing cash burn in core business activities despite adjustments for non-cash charges.
Rising restructuring and special charges: Impairment, restructuring, and other special charges aggregate over $2.7 million in Q1 2025, reflecting possible operational challenges or restructuring efforts.

Summary: Sweetgreen continues to grow its revenue and invest significantly in physical assets and operations, demonstrating an aggressive expansion strategy. However, the company has yet to achieve profitability and is experiencing cash flow pressures from ongoing net losses and negative operating cash flow. The elevated operating expenses and special charges also temper near-term margin improvement. Investors should monitor Sweetgreen’s progress on cost control and path toward positive operating income, as well as its liquidity position given continued investments and cash burn. The stable share count is a positive sign of limited dilution risk.

10/24/25 11:15 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Sweetgreen's Financials

When does Sweetgreen's fiscal year end?

According to the most recent income statement we have on file, Sweetgreen's financial year ends in December. Their financial year 2024 ended on December 29, 2024.

How has Sweetgreen's net income changed over the last 4 years?

Sweetgreen's net income appears to be on a downward trend, with a most recent value of -$90.37 million in 2024, falling from -$141.22 million in 2020. The previous period was -$113.38 million in 2023. View Sweetgreen's forecast to see where analysts expect Sweetgreen to go next.

What is Sweetgreen's operating income?

Sweetgreen's total operating income in 2024 was -$95.70 million, based on the following breakdown:

Total Gross Profit: $132.95 million
Total Operating Expenses: $228.65 million

How has Sweetgreen's revenue changed over the last 4 years?

Over the last 4 years, Sweetgreen's total revenue changed from $220.62 million in 2020 to $676.83 million in 2024, a change of 206.8%.

How much debt does Sweetgreen have?

Sweetgreen's total liabilities were at $410.61 million at the end of 2024, a 9.8% increase from 2023, and a 274.9% increase since 2021.

How much cash does Sweetgreen have?

In the past 3 years, Sweetgreen's cash and equivalents has ranged from $214.79 million in 2024 to $471.97 million in 2021, and is currently $214.79 million as of their latest financial filing in 2024.

How has Sweetgreen's book value per share changed over the last 4 years?

Over the last 4 years, Sweetgreen's book value per share changed from 0.00 in 2020 to 3.86 in 2024, a change of 385.7%.

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This page (NYSE:SG) was last updated on 10/24/2025 by MarketBeat.com Staff

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Sweetgreen (SG) Financials

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Sweetgreen (SG) Financials

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