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Sweetgreen (SG) Financials

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$7.11 +0.35 (+5.24%)
Closing price 09/11/2026 03:58 PM Eastern
Extended Trading
$7.10 -0.01 (-0.13%)
As of 09/11/2026 07:58 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Sweetgreen

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 2025
Period end date 12/27/2020 12/26/2021 12/25/2022 12/31/2023 12/29/2024 12/28/2025
Net Income / (Loss) Attributable to Common Shareholders		 -141 -153 -190 -113 -90 -134
Consolidated Net Income / (Loss)		 -141 -153 -190 -113 -90 -134
Net Income / (Loss) Continuing Operations		 -141 -153 -190 -113 -90 -134
Total Pre-Tax Income 		-141 -153 -189 -113 -92 -134
Total Operating Income		 -142 -134 -193 -122 -96 -139
Total Gross Profit		 -8.70 40 69 102 133 104
Total Revenue		 221 340 470 584 677 679
Operating Revenue		 221 340 470 584 677 679
Total Cost of Revenue		 229 299 401 482 544 576
Operating Cost of Revenue		 229 299 401 482 544 576
Total Operating Expenses		 133 175 263 224 229 243
Selling, General & Admin Expense		 99 125 187 147 150 143
Depreciation Expense		 27 36 46 59 67 72
Impairment Charge		 1.46 4.92 2.54 0.62 2.22 12
Restructuring Charge		 0.00 0.00 14 7.44 2.28 3.63
Other Special Charges / (Income)		 5.44 9.30 12 9.95 6.87 12
Total Other Income / (Expense), net		 0.37 -19 4.24 9.34 4.03 5.30
Interest Expense		 0.40 0.09 0.08 0.13 0.26 0.02
Interest & Investment Income		 1.02 0.45 5.14 13 11 6.55
Other Income / (Expense), net		 -0.25 -19 -0.82 -3.48 -6.66 -1.23
Income Tax Expense		 0.00 0.15 1.35 0.38 -1.30 0.05
Basic Earnings per Share		 ($8.80) ($5.51) ($1.73) ($1.01) ($0.79) ($1.14)
Weighted Average Basic Shares Outstanding		 16.05M 27.78M 110.13M 111.91M 114.32M 117.96M
Diluted Earnings per Share		 ($8.80) ($5.51) ($1.73) ($1.01) ($0.79) ($1.14)
Weighted Average Diluted Shares Outstanding		 16.05M 27.78M 110.13M 111.91M 114.32M 117.96M
Weighted Average Basic & Diluted Shares Outstanding		 - - 111.40M 112.98M 117.30M 118.80M

Quarterly Income Statements for Sweetgreen

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/29/2024 12/29/2024 3/30/2025 6/29/2025 9/28/2025 12/28/2025 3/29/2026 6/28/2026
Net Income / (Loss) Attributable to Common Shareholders		 -27 -26 -14 -21 -29 -25 -23 -36 -50 126 -26
Consolidated Net Income / (Loss)		 -27 -26 -14 -21 -29 -25 -23 -36 -50 126 -26
Net Income / (Loss) Continuing Operations		 -27 -26 -14 -21 -29 -25 -23 -36 -50 126 -26
Total Pre-Tax Income 		-28 -26 -14 -21 -31 -25 -23 -36 -50 128 -26
Total Operating Income		 -29 -27 -16 -21 -31 -29 -26 -36 -48 -34 -27
Total Gross Profit		 25 29 42 35 28 30 35 23 16 16 25
Total Revenue		 153 158 185 173 161 166 186 172 155 162 193
Operating Revenue		 153 158 185 173 161 166 186 172 155 162 193
Total Cost of Revenue		 128 129 143 138 133 137 150 150 139 145 167
Operating Cost of Revenue		 128 129 143 138 133 137 150 150 139 145 167
Total Operating Expenses		 54 55 58 56 59 58 62 59 64 51 53
Selling, General & Admin Expense		 36 37 39 37 37 38 35 31 40 29 30
Depreciation Expense		 16 16 17 17 17 17 18 18 18 19 19
Impairment Charge		 0.15 0.16 0.12 0.11 1.83 0.09 5.34 4.58 2.06 0.64 2.16
Restructuring Charge		 0.99 0.51 0.49 0.50 0.78 0.91 1.15 1.11 0.47 0.51 0.52
Other Special Charges / (Income)		 1.21 1.50 1.15 1.82 2.40 1.78 2.57 3.90 3.97 1.51 1.45
Total Other Income / (Expense), net		 1.30 0.94 1.81 0.45 0.83 3.59 3.36 0.22 -1.86 162 1.15
Interest Expense		 0.07 0.02 0.20 0.03 0.01 0.00 0.01 0.01 0.01 0.03 0.06
Interest & Investment Income		 3.25 3.02 2.92 2.75 2.25 1.90 1.73 1.50 1.42 1.41 1.22
Other Income / (Expense), net		 -1.88 -2.06 -0.91 -2.28 -1.41 1.69 1.64 -1.27 -3.28 161 -0.00
Income Tax Expense		 -0.58 0.09 0.09 0.09 -1.57 0.09 0.09 0.09 -0.22 1.78 0.01
Basic Earnings per Share		 ($0.25) ($0.23) ($0.13) ($0.18) ($0.25) ($0.21) ($0.20) ($0.31) ($0.42) $1.06 ($0.22)
Weighted Average Basic Shares Outstanding		 111.91M 112.77M 113.58M 114.75M 114.32M 117.31M 117.83M 118.28M 117.96M 118.66M 118.90M
Diluted Earnings per Share		 ($0.25) ($0.23) ($0.13) ($0.18) ($0.25) ($0.21) ($0.20) ($0.31) ($0.42) $1.05 ($0.22)
Weighted Average Diluted Shares Outstanding		 111.91M 112.77M 113.58M 114.75M 114.32M 117.31M 117.83M 118.28M 117.96M 120.23M 118.90M
Weighted Average Basic & Diluted Shares Outstanding		 112.98M 113.31M 114.14M 115.67M 117.30M 117.68M 118.21M 118.37M 118.80M 118.83M 119.04M

Annual Cash Flow Statements for Sweetgreen

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 2025
Period end date 12/27/2020 12/26/2021 12/25/2022 12/31/2023 12/29/2024 12/28/2025
Net Change in Cash & Equivalents		 -147 370 -141 -74 -40 -124
Net Cash From Operating Activities		 -90 -65 -43 26 43 -13
Net Cash From Continuing Operating Activities		 -90 -65 -43 26 43 -13
Net Income / (Loss) Continuing Operations		 -141 -153 -190 -113 -90 -134
Consolidated Net Income / (Loss)		 -141 -153 -190 -113 -90 -134
Depreciation Expense		 27 36 46 59 67 72
Amortization Expense		 0.44 0.50 0.44 1.03 1.08 1.10
Non-Cash Adjustments To Reconcile Net Income		 4.58 38 109 85 73 86
Changes in Operating Assets and Liabilities, net		 19 15 -8.72 -5.36 -7.95 -37
Net Cash From Investing Activities		 -58 -98 -102 -96 -92 -114
Net Cash From Continuing Investing Activities		 -58 -98 -102 -96 -92 -114
Purchase of Property, Plant & Equipment		 -48 -85 -97 -90 -84 -106
Acquisitions		 -10 -13 -5.38 -6.12 -7.74 -7.81
Other Investing Activities, net		 0.03 0.25 0.24 0.12 -0.01 0.05
Net Cash From Financing Activities		 2.15 532 4.63 -5.20 8.90 2.86
Net Cash From Continuing Financing Activities		 2.15 532 4.63 -5.20 8.90 2.86
Other Financing Activities, net		 2.15 26 4.76 -5.20 8.90 2.86
Cash Interest Paid		 0.38 0.00 0.00 0.05 0.18 0.02

Quarterly Cash Flow Statements for Sweetgreen

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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/29/2024 12/29/2024 3/30/2025 6/29/2025 9/28/2025 12/28/2025 3/29/2026 6/28/2026
Net Change in Cash & Equivalents		 -18 -13 1.28 -7.90 -20 -31 -14 -39 -41 68 -12
Net Cash From Operating Activities		 8.92 3.43 19 15 6.12 -13 10 -1.38 -8.65 -17 -0.44
Net Cash From Continuing Operating Activities		 8.92 3.43 19 15 6.12 -13 10 -1.38 -8.65 -17 -0.44
Net Income / (Loss) Continuing Operations		 -27 -26 -14 -21 -29 -25 -23 -36 -50 126 -26
Consolidated Net Income / (Loss)		 -27 -26 -14 -21 -29 -25 -23 -36 -50 126 -26
Depreciation Expense		 16 16 17 17 17 17 18 18 18 19 19
Amortization Expense		 0.27 0.27 0.27 0.27 0.27 0.27 0.28 0.28 0.28 0.30 0.31
Non-Cash Adjustments To Reconcile Net Income		 34 12 19 18 19 19 22 21 24 -145 -3.25
Changes in Operating Assets and Liabilities, net		 -14 1.18 -2.35 0.43 -1.39 -24 -6.93 -4.39 -1.24 -17 10
Net Cash From Investing Activities		 -16 -15 -21 -27 -29 -19 -25 -38 -32 85 -12
Net Cash From Continuing Investing Activities		 -16 -15 -21 -27 -29 -19 -25 -38 -32 85 -12
Purchase of Property, Plant & Equipment		 -15 -13 -19 -25 -27 -17 -24 -36 -30 -12 -10
Acquisitions		 -1.65 -1.61 -1.98 -1.87 -2.28 -2.50 -1.80 -1.66 -1.86 -2.42 -1.42
Other Investing Activities, net		 0.15 0.00 - -0.00 -0.01 0.10 - -0.03 -0.02 100 0.01
Net Cash From Financing Activities		 -10 -1.88 3.41 4.30 3.06 1.43 0.99 0.33 0.11 -0.41 -0.22
Net Cash From Continuing Financing Activities		 -10 -1.88 3.41 4.30 3.06 1.43 0.99 0.33 0.11 -0.41 -0.22
Repurchase of Common Equity		 - 0.00 - - - -0.26 -0.00 -0.00 - -0.42 -0.27
Other Financing Activities, net		 -10 -1.88 3.41 4.30 3.06 1.68 1.00 0.34 -0.15 0.01 0.05
Cash Interest Paid		 0.05 - - 0.01 - 0.00 - 0.01 0.01 0.03 0.06

Annual Balance Sheets for Sweetgreen

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 2025
Period end date 12/26/2021 12/25/2022 12/31/2023 12/29/2024 12/28/2025
Total Assets		 763 909 857 857 788
Total Current Assets		 507 346 276 235 130
Cash & Equivalents		 472 332 257 215 89
Accounts Receivable		 2.64 3.24 3.50 5.03 5.17
Inventories, net		 0.90 1.38 2.07 1.99 2.38
Prepaid Expenses		 14 8.16 5.77 7.84 6.38
Other Current Assets		 17 1.75 7.45 4.88 27
Plant, Property, & Equipment, net		 181 235 267 296 327
Total Noncurrent Assets		 75 328 313 326 332
Long-Term Investments		 - - - - 0.00
Goodwill		 36 36 36 36 28
Intangible Assets		 33 31 27 24 10
Other Noncurrent Operating Assets		 6.49 261 250 266 293
Total Liabilities & Shareholders' Equity		 763 909 857 857 788
Total Liabilities		 110 368 374 411 432
Total Current Liabilities		 48 73 92 116 119
Accounts Payable		 11 12 17 19 20
Accrued Expenses		 16 22 21 27 34
Current Deferred Revenue		 6.06 2.02 2.80 - 7.18
Current Employee Benefit Liabilities		 12 6.58 13 15 8.14
Other Current Liabilities		 1.84 30 37 56 49
Other Current Nonoperating Liabilities		 - - - 0.00 1.09
Total Noncurrent Liabilities		 62 295 282 295 313
Noncurrent Deferred & Payable Income Tax Liabilities		 0.13 1.41 1.77 0.36 0.27
Other Noncurrent Operating Liabilities		 21 294 281 294 313
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 653 541 483 446 356
Total Preferred & Common Equity		 653 541 483 446 356
Total Common Equity		 653 541 483 446 356
Common Stock		 1,129 1,213 1,268 1,322 1,366
Retained Earnings		 -476 -672 -785 -875 -1,009

Quarterly Balance Sheets for Sweetgreen

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 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/26/2023 6/25/2023 9/24/2023 3/31/2024 6/30/2024 9/29/2024 3/30/2025 6/29/2025 9/28/2025 3/29/2026 6/28/2026
Total Assets		 896 887 880 843 859 858 834 832 825 913 896
Total Current Assets		 319 306 299 264 266 255 206 190 150 175 164
Cash & Equivalents		 297 280 275 244 245 235 184 168 130 157 143
Accounts Receivable		 5.06 7.82 9.89 5.59 6.49 7.14 7.91 6.67 6.81 7.04 5.71
Inventories, net		 1.28 3.15 3.35 1.85 2.04 2.10 2.12 2.41 2.44 2.59 2.87
Prepaid Expenses		 7.54 7.61 5.98 6.77 7.57 6.43 7.29 9.28 7.03 7.69 11
Other Current Assets		 8.14 7.49 4.71 5.62 5.10 4.92 4.86 3.52 3.35 1.19 1.37
Plant, Property, & Equipment, net		 247 260 264 267 276 285 298 305 321 318 311
Total Noncurrent Assets		 330 321 317 311 317 317 330 337 353 419 421
Long-Term Investments		 - - - - - - - - - 86 86
Goodwill		 36 36 36 36 36 36 36 36 36 28 28
Intangible Assets		 30 29 29 26 26 25 24 23 22 10 9.92
Other Noncurrent Operating Assets		 264 255 252 249 256 257 270 278 296 295 296
Total Liabilities & Shareholders' Equity		 896 887 880 843 859 858 834 832 825 913 896
Total Liabilities		 373 376 380 372 389 395 402 409 431 424 428
Total Current Liabilities		 73 78 81 87 98 99 105 104 116 109 114
Accounts Payable		 13 15 14 20 22 18 18 20 19 17 14
Accrued Expenses		 21 21 21 22 25 28 26 28 33 33 39
Current Deferred Revenue		 - 1.82 1.83 3.14 3.38 3.67 4.70 6.27 7.86 - 7.59
Current Employee Benefit Liabilities		 8.76 11 14 10 14 14 9.19 9.64 8.20 9.07 11
Other Current Liabilities		 31 30 31 32 34 35 47 40 48 49 42
Other Current Nonoperating Liabilities		 - - - - - - - - - 0.00 0.00
Total Noncurrent Liabilities		 300 298 298 285 291 296 297 304 316 315 314
Noncurrent Deferred & Payable Income Tax Liabilities		 1.73 2.05 2.37 1.86 1.95 2.04 0.45 0.54 0.63 0.63 0.63
Other Noncurrent Operating Liabilities		 298 296 296 283 289 294 296 304 315 314 313
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 523 511 500 470 470 463 433 423 393 489 468
Total Preferred & Common Equity		 523 511 500 470 470 463 433 423 393 489 468
Total Common Equity		 523 511 500 470 470 463 433 423 393 489 468
Common Stock		 1,228 1,244 1,258 1,281 1,296 1,310 1,333 1,347 1,353 1,373 1,378
Retained Earnings		 -705 -733 -758 -811 -826 -846 -900 -924 -960 -884 -910

Annual Metrics And Ratios for Sweetgreen

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

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/27/2020 12/26/2021 12/25/2022 12/31/2023 12/29/2024 12/28/2025
Growth Metrics		 - - - - - -
Revenue Growth		 0.00% 54.06% 38.32% 24.24% 15.89% 0.39%
EBITDA Growth		 0.00% -2.44% -25.48% 55.65% 48.03% -100.11%
EBIT Growth		 0.00% -8.15% -26.58% 35.20% 18.65% -37.31%
NOPAT Growth		 0.00% 5.08% -43.85% 36.72% 21.77% -45.57%
Net Income Growth		 0.00% -8.46% -24.33% 40.46% 20.29% -48.35%
EPS Growth		 0.00% 37.39% 68.60% 41.62% 21.78% -44.30%
Operating Cash Flow Growth		 0.00% 28.58% 33.10% 161.34% 63.86% -129.26%
Free Cash Flow Firm Growth		 0.00% 0.00% 40.48% 38.42% 27.14% -82.58%
Invested Capital Growth		 0.00% 0.00% 15.71% 7.27% 2.89% 15.85%
Revenue Q/Q Growth		 0.00% 0.00% 4.94% 6.27% 1.18% -0.83%
EBITDA Q/Q Growth		 0.00% 0.00% 11.01% 26.14% -1.71% -35.14%
EBIT Q/Q Growth		 0.00% 0.00% 7.38% 13.44% -1.66% -15.18%
NOPAT Q/Q Growth		 0.00% 0.00% 0.04% 13.09% -2.29% -13.58%
Net Income Q/Q Growth		 0.00% 0.00% 8.16% 16.15% -1.82% -18.25%
EPS Q/Q Growth		 0.00% 0.00% 8.47% 16.53% 0.00% -17.53%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 20.09% 28,070.21% -6.07% -711.27%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 17.13% -7.88% -11.28%
Invested Capital Q/Q Growth		 0.00% 0.00% 3.56% -0.33% 1.37% 1.93%
Profitability Metrics		 - - - - - -
Gross Margin		 -3.94% 11.89% 14.74% 17.45% 19.64% 15.24%
EBITDA Margin		 -51.92% -34.53% -31.32% -11.18% -5.01% -9.99%
Operating Margin		 -64.18% -39.54% -41.13% -20.95% -14.14% -20.50%
EBIT Margin		 -64.29% -45.13% -41.30% -21.54% -15.12% -20.68%
Profit (Net Income) Margin		 -64.01% -45.07% -40.51% -19.41% -13.35% -19.73%
Tax Burden Percent		 100.00% 100.10% 100.71% 100.34% 98.58% 100.03%
Interest Burden Percent		 99.57% 99.76% 97.39% 89.82% 89.56% 95.35%
Effective Tax Rate		 0.00% 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% -39.06%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% -78.83% -55.55% -30.01% -19.47% -14.93%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 56.97% 37.38% 17.27% 9.91% 5.64%
Return on Equity (ROE)		 0.00% -46.91% -31.89% -22.15% -19.46% -33.42%
Cash Return on Invested Capital (CROIC)		 0.00% -303.87% -83.84% -46.44% -32.22% -53.75%
Operating Return on Assets (OROA)		 0.00% -20.11% -23.23% -14.25% -11.95% -17.09%
Return on Assets (ROA)		 0.00% -20.08% -22.79% -12.84% -10.55% -16.30%
Return on Common Equity (ROCE)		 0.00% -46.91% -31.89% -22.15% -19.46% -33.42%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -23.45% -35.19% -23.49% -20.26% 0.00%
Net Operating Profit after Tax (NOPAT)		 -99 -94 -135 -86 -67 -98
NOPAT Margin		 -44.93% -27.68% -28.79% -14.66% -9.90% -14.35%
Net Nonoperating Expense Percent (NNEP)		 0.00% -25.04% -13.71% -9.41% -9.90% -24.13%
Return On Investment Capital (ROIC_SIMPLE)		 - - -25.01% -17.75% -15.02% -27.38%
Cost of Revenue to Revenue		 103.94% 88.11% 85.26% 82.55% 80.36% 84.76%
SG&A Expenses to Revenue		 44.94% 36.79% 39.86% 25.13% 22.15% 21.10%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 60.24% 51.43% 55.86% 38.40% 33.78% 35.74%
Earnings before Interest and Taxes (EBIT)		 -142 -153 -194 -126 -102 -141
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -115 -117 -147 -65 -34 -68
Valuation Ratios		 - - - - - -
Price to Book Value (P/BV)		 0.00 0.62 1.81 2.63 8.39 2.32
Price to Tangible Book Value (P/TBV)		 0.00 0.70 2.06 3.03 9.70 2.60
Price to Revenue (P/Rev)		 1.65 1.20 2.08 2.18 5.53 1.21
Price to Earnings (P/E)		 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%
Earnings Yield		 0.00% 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 2.75
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 1.38 1.73 5.21 1.08
Enterprise Value to EBITDA (EV/EBITDA)		 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
Enterprise Value to NOPAT (EV/NOPAT)		 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 38.26 81.34 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 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
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 0.00 -0.72 -0.67 -0.58 -0.51 -0.38
Leverage Ratio		 0.00 1.17 1.40 1.72 1.84 2.05
Compound Leverage Factor		 0.00 1.16 1.36 1.55 1.65 1.96
Debt to Total Capital		 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%
Long-Term Debt to Total Capital		 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%
Noncontrolling Interests to Total Capital		 0.00% 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% 100.00%
Debt to EBITDA		 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
Long-Term Debt to EBITDA		 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
Net Debt to NOPAT		 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
Altman Z-Score		 0.00 1.86 0.74 1.21 4.60 -0.36
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - -
Current Ratio		 0.00 10.66 4.77 3.02 2.02 1.09
Quick Ratio		 0.00 9.99 4.62 2.85 1.90 0.80
Cash Flow Metrics		 - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -275 -164 -101 -74 -134
Operating Cash Flow to CapEx		 -187.66% -76.36% -44.56% 29.53% 51.38% -11.92%
Free Cash Flow to Firm to Interest Expense		 0.00 -3,163.51 -1,973.52 -788.10 -287.11 -7,063.14
Operating Cash Flow to Interest Expense		 -223.64 -741.71 -520.11 206.88 169.49 -668.21
Operating Cash Flow Less CapEx to Interest Expense		 -342.82 -1,713.10 -1,687.45 -493.69 -160.42 -6,273.05
Efficiency Ratios		 - - - - - -
Asset Turnover		 0.00 0.45 0.56 0.66 0.79 0.83
Accounts Receivable Turnover		 0.00 128.55 159.68 173.15 158.58 133.23
Inventory Turnover		 0.00 331.64 350.67 279.33 268.18 263.53
Fixed Asset Turnover		 0.00 1.88 2.26 2.33 2.40 2.18
Accounts Payable Turnover		 0.00 26.75 34.20 32.55 30.15 29.85
Days Sales Outstanding (DSO)		 0.00 2.84 2.29 2.11 2.30 2.74
Days Inventory Outstanding (DIO)		 0.00 1.10 1.04 1.31 1.36 1.39
Days Payable Outstanding (DPO)		 0.00 13.65 10.67 11.21 12.11 12.23
Cash Conversion Cycle (CCC)		 0.00 -9.71 -7.35 -7.80 -8.44 -8.10
Capital & Investment Metrics		 - - - - - -
Invested Capital		 0.00 181 210 225 231 268
Invested Capital Turnover		 0.00 3.75 2.41 2.69 2.97 2.72
Increase / (Decrease) in Invested Capital		 0.00 181 28 15 6.51 37
Enterprise Value (EV)		 0.00 -64 647 1,013 3,529 736
Market Capitalization		 364 408 978 1,270 3,744 825
Book Value per Share		 $0.00 $23.51 $4.88 $4.29 $3.86 $3.01
Tangible Book Value per Share		 $0.00 $21.03 $4.28 $3.73 $3.34 $2.69
Total Capital		 0.00 653 541 483 446 356
Total Debt		 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
Net Debt		 0.00 -472 -332 -257 -215 -89
Capital Expenditures (CapEx)		 48 85 97 90 84 106
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -13 -58 -73 -96 -78
Debt-free Net Working Capital (DFNWC)		 0.00 459 274 185 119 11
Net Working Capital (NWC)		 0.00 459 274 185 119 11
Net Nonoperating Expense (NNE)		 42 59 55 28 23 37
Net Nonoperating Obligations (NNO)		 0.00 -472 -332 -258 -215 -88
Total Depreciation and Amortization (D&A)		 27 36 47 61 68 73
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% -3.78% -12.34% -12.45% -14.20% -11.50%
Debt-free Net Working Capital to Revenue		 0.00% 135.09% 58.20% 31.60% 17.54% 1.62%
Net Working Capital to Revenue		 0.00% 135.09% 58.20% 31.60% 17.54% 1.62%
Earnings Adjustments		 - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 ($1.01) ($0.79) ($1.14)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 0.00 111.91M 114.32M 117.96M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 ($1.01) ($0.79) ($1.14)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 0.00 111.91M 114.32M 117.96M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $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 118.80M
Normalized Net Operating Profit after Tax (NOPAT)		 -94 -84 -115 -73 -59 -78
Normalized NOPAT Margin		 -42.74% -24.75% -24.50% -12.50% -8.72% -11.48%
Pre Tax Income Margin		 -64.01% -45.02% -40.22% -19.35% -13.54% -19.72%
Debt Service Ratios		 - - - - - -
EBIT to Interest Expense		 -351.08 -1,763.11 -2,339.23 -982.96 -399.84 -7,397.26
NOPAT to Interest Expense		 -245.33 -1,081.37 -1,630.55 -669.07 -261.69 -5,132.77
EBIT Less CapEx to Interest Expense		 -470.26 -2,734.51 -3,506.57 -1,683.52 -729.75 -13,002.11
NOPAT Less CapEx to Interest Expense		 -364.51 -2,052.76 -2,797.89 -1,369.63 -591.60 -10,737.61
Payout Ratios		 - - - - - -
Dividend Payout Ratio		 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%

Quarterly Metrics And Ratios for Sweetgreen

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/29/2024 12/29/2024 3/30/2025 6/29/2025 9/28/2025 12/28/2025 3/29/2026 6/28/2026
DEI Shares Outstanding		 - - - - - - - - - 118,795,981.00 118,827,657.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 118,795,981.00 118,827,657.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 1.06 -0.22
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 29.06% 26.22% 21.06% 13.04% 5.15% 5.36% 0.51% -0.60% -3.55% -2.88% 3.81%
EBITDA Growth		 61.09% 46.64% 99.44% 48.34% -3.89% 22.79% -7,476.74% -202.05% -115.46% 1,630.82% -28.02%
EBIT Growth		 38.52% 20.36% 43.35% 16.53% -5.36% 7.32% -45.02% -60.09% -56.40% 570.02% -10.59%
NOPAT Growth		 38.61% 23.80% 48.20% 20.06% -7.31% -6.03% -63.27% -71.31% -52.99% -69.54% -3.74%
Net Income Growth		 44.35% 22.55% 46.95% 16.92% -5.89% 3.94% -60.15% -73.65% -71.28% 602.45% -13.44%
EPS Growth		 44.44% 23.33% 45.83% 18.18% 0.00% 8.70% -53.85% -72.22% -68.00% 600.00% -10.00%
Operating Cash Flow Growth		 151.11% 209.46% 140.42% 15.66% -31.43% -483.19% -45.27% -109.35% -241.43% -30.74% -104.22%
Free Cash Flow Firm Growth		 42.23% 68.13% 86.29% 58.15% 20.23% -121.60% -640.38% -244.33% -146.71% 26.64% 93.93%
Invested Capital Growth		 7.27% 0.13% -2.12% 1.17% 2.89% 9.92% 12.99% 15.22% 15.85% -1.11% -6.39%
Revenue Q/Q Growth		 -0.26% 3.15% 16.97% -6.07% -7.22% 3.36% 11.59% -7.11% -9.98% 4.08% 19.28%
EBITDA Q/Q Growth		 -21.13% 16.59% 99.30% -7,200.00% -143.60% 38.00% 31.27% -191.02% -73.76% 540.48% -105.75%
EBIT Q/Q Growth		 -10.92% 7.04% 41.01% -37.21% -40.01% 18.23% 7.69% -51.47% -36.79% 345.73% -121.72%
NOPAT Q/Q Growth		 -10.58% 8.11% 39.87% -30.84% -48.43% 9.20% 7.41% -37.28% -32.56% -0.62% 43.35%
Net Income Q/Q Growth		 -9.42% 4.91% 44.53% -43.96% -39.46% 13.75% 7.51% -56.08% -37.56% 353.02% -120.88%
EPS Q/Q Growth		 -13.64% 8.00% 43.48% -38.46% -38.89% 16.00% 4.76% -55.00% -35.48% 350.00% -120.95%
Operating Cash Flow Q/Q Growth		 -29.93% -61.61% 457.97% -22.95% -58.46% -314.54% 179.70% -113.16% -528.47% -98.32% 97.42%
Free Cash Flow Firm Q/Q Growth		 14.36% 47.22% 66.27% -170.54% -63.26% -48.75% -12.69% -25.82% -16.98% 55.77% 90.67%
Invested Capital Q/Q Growth		 -0.33% 0.29% -0.21% 1.19% 1.37% 7.39% 2.57% 3.19% 1.93% -8.33% -2.91%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 16.19% 18.08% 22.49% 20.15% 17.37% 17.85% 18.93% 13.06% 10.44% 10.03% 13.07%
EBITDA Margin		 -9.62% -7.78% -0.05% -3.62% -9.50% -5.70% -3.51% -11.00% -21.23% 89.86% -4.33%
Operating Margin		 -19.14% -17.05% -8.77% -12.21% -19.53% -17.16% -14.24% -21.04% -30.98% -21.26% -14.23%
EBIT Margin		 -20.37% -18.36% -9.26% -13.52% -20.41% -16.15% -13.36% -21.78% -33.09% 78.14% -14.23%
Profit (Net Income) Margin		 -17.91% -16.51% -7.83% -12.00% -18.04% -15.06% -12.48% -20.97% -32.04% 77.89% -13.64%
Tax Burden Percent		 97.95% 100.35% 100.63% 100.43% 94.87% 100.36% 100.39% 100.25% 99.55% 98.61% 100.05%
Interest Burden Percent		 89.80% 89.66% 84.07% 88.37% 93.18% 92.91% 93.06% 96.03% 97.25% 101.09% 95.79%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.39% 0.00%
Return on Invested Capital (ROIC)		 -36.02% -32.59% -17.46% -25.20% -40.57% -34.70% -28.47% -41.09% -59.02% -57.26% -27.52%
ROIC Less NNEP Spread (ROIC-NNEP)		 -33.68% -29.92% -16.27% -22.84% -37.60% -32.33% -26.22% -35.21% -48.41% -131.95% -23.96%
Return on Net Nonoperating Assets (RNNOA)		 19.39% 16.31% 8.71% 12.09% 19.13% 15.34% 12.12% 15.02% 18.28% 61.21% 10.69%
Return on Equity (ROE)		 -16.64% -16.29% -8.75% -13.11% -21.44% -19.35% -16.35% -26.07% -40.74% 3.95% -16.83%
Cash Return on Invested Capital (CROIC)		 -46.44% -35.44% -28.22% -30.03% -32.22% -38.17% -43.54% -49.10% -53.75% -52.12% -46.23%
Operating Return on Assets (OROA)		 -13.48% -13.03% -6.88% -10.41% -16.12% -13.20% -10.84% -17.74% -27.34% 60.35% -11.23%
Return on Assets (ROA)		 -11.85% -11.72% -5.82% -9.24% -14.25% -12.30% -10.13% -17.07% -26.47% 60.16% -10.76%
Return on Common Equity (ROCE)		 -16.64% -16.29% -8.75% -13.11% -21.44% -19.35% -16.35% -26.07% -40.74% 3.95% -16.83%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -22.50% -19.78% -19.16% 0.00% -20.65% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -21 -19 -11 -15 -22 -20 -18 -25 -34 -34 -19
NOPAT Margin		 -13.40% -11.94% -6.14% -8.55% -13.67% -12.01% -9.97% -14.73% -21.69% -20.97% -9.96%
Net Nonoperating Expense Percent (NNEP)		 -2.35% -2.67% -1.19% -2.35% -2.98% -2.36% -2.26% -5.89% -10.61% 74.70% -3.56%
Return On Investment Capital (ROIC_SIMPLE)		 -4.25% - - - -4.93% -4.62% -4.37% -6.46% -9.45% -6.93% -4.10%
Cost of Revenue to Revenue		 83.81% 81.92% 77.51% 79.85% 82.63% 82.15% 81.07% 86.94% 89.56% 89.97% 86.93%
SG&A Expenses to Revenue		 23.23% 23.35% 21.23% 21.21% 23.06% 23.05% 18.59% 17.92% 25.55% 18.12% 15.42%
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		 35.33% 35.13% 31.25% 32.36% 36.91% 35.01% 33.16% 34.10% 41.42% 31.29% 27.30%
Earnings before Interest and Taxes (EBIT)		 -31 -29 -17 -23 -33 -27 -25 -38 -51 126 -27
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -15 -12 -0.09 -6.28 -15 -9.48 -6.52 -19 -33 145 -8.34
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.63 6.07 7.26 8.86 8.39 6.92 3.78 2.45 2.32 1.14 2.32
Price to Tangible Book Value (P/TBV)		 3.03 7.00 8.36 10.19 9.70 8.03 4.39 2.87 2.60 1.24 2.53
Price to Revenue (P/Rev)		 2.18 4.63 5.26 6.13 5.53 4.37 2.33 1.41 1.21 0.83 1.59
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 33.27 79.44
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% 3.01% 1.26%
Enterprise Value to Invested Capital (EV/IC)		 4.51 11.55 14.06 16.95 15.26 11.31 5.61 3.17 2.75 1.28 3.59
Enterprise Value to Revenue (EV/Rev)		 1.73 4.23 4.89 5.78 5.21 4.10 2.09 1.22 1.08 0.47 1.26
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3.63 10.10
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 25.18 86.66
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)		 38.26 79.01 71.73 83.75 81.34 104.74 78.69 401.28 0.00 0.00 0.00
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		 -0.58 -0.55 -0.54 -0.53 -0.51 -0.47 -0.46 -0.43 -0.38 -0.46 -0.45
Leverage Ratio		 1.72 1.75 1.78 1.80 1.84 1.86 1.89 1.96 2.05 1.90 1.94
Compound Leverage Factor		 1.55 1.57 1.50 1.59 1.72 1.73 1.76 1.89 1.99 1.92 1.86
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		 1.58 4.12 4.85 5.77 4.87 3.82 1.64 0.44 0.02 0.72 0.83
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		 3.02 3.02 2.72 2.59 2.02 1.97 1.82 1.29 1.09 1.61 1.43
Quick Ratio		 2.85 2.86 2.57 2.45 1.90 1.83 1.68 1.18 0.80 1.50 1.30
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -36 -19 -6.45 -17 -29 -42 -48 -60 -70 -31 -2.90
Operating Cash Flow to CapEx		 60.35% 25.55% 99.19% 58.78% 22.90% -78.46% 44.33% -3.84% -28.52% -138.47% -4.36%
Free Cash Flow to Firm to Interest Expense		 -510.55 -1,007.24 -32.77 -671.63 -2,036.36 0.00 -9,558.02 -8,589.69 -10,047.97 -1,111.16 -46.81
Operating Cash Flow to Interest Expense		 127.49 180.32 97.04 566.50 437.07 0.00 2,092.60 -196.71 -1,236.29 -612.96 -7.13
Operating Cash Flow Less CapEx to Interest Expense		 -83.77 -525.47 -0.79 -397.23 -1,471.36 0.00 -2,627.60 -5,313.29 -5,571.00 -1,055.64 -170.47
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.66 0.71 0.74 0.77 0.79 0.82 0.81 0.81 0.83 0.77 0.79
Accounts Receivable Turnover		 173.15 115.79 90.70 78.55 158.58 101.51 104.27 98.26 133.23 90.24 110.15
Inventory Turnover		 279.33 320.78 202.58 197.82 268.18 277.46 251.02 251.17 263.53 248.52 227.69
Fixed Asset Turnover		 2.33 2.40 2.42 2.43 2.40 2.42 2.36 2.26 2.18 2.19 2.21
Accounts Payable Turnover		 32.55 30.65 28.96 33.97 30.15 28.94 26.61 30.68 29.85 32.67 34.90
Days Sales Outstanding (DSO)		 2.11 3.15 4.02 4.65 2.30 3.60 3.50 3.71 2.74 4.05 3.31
Days Inventory Outstanding (DIO)		 1.31 1.14 1.80 1.85 1.36 1.32 1.45 1.45 1.39 1.47 1.60
Days Payable Outstanding (DPO)		 11.21 11.91 12.60 10.74 12.11 12.61 13.72 11.90 12.23 11.17 10.46
Cash Conversion Cycle (CCC)		 -7.80 -7.62 -6.78 -4.25 -8.44 -7.70 -8.76 -6.73 -8.10 -5.66 -5.54
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 225 226 226 228 231 248 255 263 268 246 239
Invested Capital Turnover		 2.69 2.73 2.85 2.95 2.97 2.89 2.86 2.79 2.72 2.73 2.76
Increase / (Decrease) in Invested Capital		 15 0.30 -4.87 2.64 6.51 22 29 35 37 -2.76 -16
Enterprise Value (EV)		 1,013 2,610 3,171 3,869 3,529 2,811 1,431 833 736 315 857
Market Capitalization		 1,270 2,854 3,415 4,103 3,744 2,995 1,599 963 825 558 1,086
Book Value per Share		 $4.29 $4.16 $4.15 $4.06 $3.86 $3.69 $3.60 $3.33 $3.01 $4.12 $3.94
Tangible Book Value per Share		 $3.73 $3.61 $3.61 $3.53 $3.34 $3.18 $3.10 $2.84 $2.69 $3.80 $3.62
Total Capital		 483 470 470 463 446 433 423 393 356 489 468
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		 -257 -244 -245 -235 -215 -184 -168 -130 -89 -243 -229
Capital Expenditures (CapEx)		 15 13 19 25 27 17 24 36 30 12 10
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -73 -67 -76 -78 -96 -83 -83 -96 -78 -91 -93
Debt-free Net Working Capital (DFNWC)		 185 176 168 157 119 101 86 34 11 66 50
Net Working Capital (NWC)		 185 176 168 157 119 101 86 34 11 66 50
Net Nonoperating Expense (NNE)		 6.91 7.23 3.13 5.99 7.03 5.06 4.66 11 16 -160 7.08
Net Nonoperating Obligations (NNO)		 -258 -244 -245 -235 -215 -184 -168 -130 -88 -243 -229
Total Depreciation and Amortization (D&A)		 16 17 17 17 18 17 18 19 18 19 19
Debt-free, Cash-free Net Working Capital to Revenue		 -12.45% -10.93% -11.78% -11.64% -14.20% -12.05% -12.04% -14.05% -11.50% -13.43% -13.64%
Debt-free Net Working Capital to Revenue		 31.60% 28.59% 25.91% 23.44% 17.54% 14.79% 12.51% 4.92% 1.62% 9.81% 7.28%
Net Working Capital to Revenue		 31.60% 28.59% 25.91% 23.44% 17.54% 14.79% 12.51% 4.92% 1.62% 9.81% 7.28%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.25) ($0.23) ($0.13) ($0.18) ($0.25) ($0.21) ($0.20) ($0.31) ($0.42) $1.06 ($0.22)
Adjusted Weighted Average Basic Shares Outstanding		 111.91M 112.77M 113.58M 114.75M 114.32M 117.31M 117.83M 118.28M 117.96M 118.66M 118.90M
Adjusted Diluted Earnings per Share		 ($0.25) ($0.23) ($0.13) ($0.18) ($0.25) ($0.21) ($0.20) ($0.31) ($0.42) $1.05 ($0.22)
Adjusted Weighted Average Diluted Shares Outstanding		 111.91M 112.77M 113.58M 114.75M 114.32M 117.31M 117.83M 118.28M 117.96M 120.23M 118.90M
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		 112.98M 113.31M 114.14M 115.67M 117.30M 117.68M 118.21M 118.37M 118.80M 118.83M 119.04M
Normalized Net Operating Profit after Tax (NOPAT)		 -19 -17 -10 -13 -18 -18 -12 -19 -29 -31 -16
Normalized NOPAT Margin		 -12.32% -10.98% -5.47% -7.56% -11.50% -10.84% -6.55% -10.84% -18.76% -19.35% -8.46%
Pre Tax Income Margin		 -18.29% -16.46% -7.78% -11.95% -19.02% -15.00% -12.43% -20.92% -32.18% 78.99% -13.63%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -445.24 -1,524.95 -86.77 -902.08 -2,345.64 0.00 -4,957.60 -5,363.86 -7,337.29 4,507.46 -442.13
NOPAT to Interest Expense		 -292.89 -991.61 -57.51 -570.10 -1,571.50 0.00 -3,699.22 -3,627.40 -4,808.40 -1,209.55 -309.47
EBIT Less CapEx to Interest Expense		 -656.50 -2,230.74 -184.59 -1,865.81 -4,254.07 0.00 -9,677.80 -10,480.43 -11,672.00 4,064.79 -605.47
NOPAT Less CapEx to Interest Expense		 -504.15 -1,697.39 -155.33 -1,533.83 -3,479.93 0.00 -8,419.42 -8,743.97 -9,143.11 -1,652.23 -472.81
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’s Q2 2026 results show stronger revenue but continued profitability and cash-flow pressure. Revenue rose to $192.7 million from $185.6 million in Q2 2025 and $152.5 million in Q2 2023, indicating meaningful top-line expansion. However, gross profit declined to $25.2 million, or roughly 13.1% of revenue, from $35.1 million, or 18.6%, a year earlier. The company also reported a $26.3 million net loss, or $0.22 per diluted share, compared with a $23.2 million loss, or $0.20 per share, in Q2 2025.

Operating performance has improved sequentially but remains unprofitable. The Q2 operating loss was $27.4 million, compared with a $34.3 million loss in Q1 2026 and a $48.1 million loss in Q4 2025. Still, the improvement was not enough to offset weaker gross margins and elevated operating costs, including $18.8 million of depreciation, $2.2 million of impairment charges, $516,000 of restructuring costs and $1.4 million of other special charges.

Cash generation remains a key issue for investors. Operating cash flow improved to a near break-even outflow of $442,000 in Q2 2026 from an outflow of $17.2 million in Q1, but it was still below the $10.5 million inflow recorded in Q2 2025. After $11.5 million of investing outflows, primarily capital expenditures, cash declined by $12.2 million during the quarter. Cash and equivalents stood at $142.6 million at quarter-end, down from $168.5 million a year earlier and $280.3 million in Q2 2023.

  • Revenue continues to grow: Q2 2026 revenue increased 3.8% year over year and was approximately 26% above Q2 2023, supporting the company’s long-term expansion strategy.
  • Sequential operating improvement: The operating loss narrowed to $27.4 million from $34.3 million in Q1 2026 and $48.1 million in Q4 2025.
  • Operating cash flow nearly reached break-even: Q2 operating cash flow was negative $442,000, a significant improvement from the $17.2 million outflow in Q1 2026.
  • Balance-sheet liquidity remains meaningful: Sweetgreen held $142.6 million in cash and equivalents, $86.4 million in long-term investments and $163.9 million in current assets at the end of Q2.
  • Limited financing pressure: Cash interest paid was only $62,000 in Q2, and the statements do not show conventional debt as a major source of cash usage. However, the company continues to rely on its cash balance while operating losses persist.
  • Q1’s profit was not representative of core operations: The $125.8 million Q1 net profit was driven largely by $160.6 million of other income, while the company returned to a $26.3 million loss in Q2.
  • Gross-margin deterioration is significant: Gross margin fell to approximately 13.1% in Q2 2026 from 18.9% in Q2 2025 and 22.5% in Q2 2024, suggesting cost pressures are absorbing much of the revenue growth.
  • Sweetgreen remains consistently unprofitable: The company reported net losses in Q2 2026, Q4 2025, Q3 2025, Q2 2025, Q1 2025 and each reported quarter of 2024 and 2023.
  • Cash balances are trending lower: Cash declined from $244.6 million in Q2 2024 to $168.5 million in Q2 2025 and $142.6 million in Q2 2026, even as the company continues investing in property and equipment.
  • Capital spending continues to consume cash: Q2 2026 capital expenditures totaled $10.1 million, while acquisitions used another $1.4 million. The company also spent $26.5 million on property, equipment and acquisitions in Q2 2025.

Overall, Sweetgreen is growing revenue and has recently reduced its operating cash burn, but the four-year trend still reflects persistent losses, declining cash reserves and weaker gross margins. The investment case depends heavily on whether management can convert revenue growth into sustainable restaurant-level and company-wide profitability before the current cash cushion is materially depleted.

09/13/26 11:56 AM ETAI Generated. May Contain Errors.

Sweetgreen Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Sweetgreen's financial year ends in December. Their financial year 2025 ended on December 28, 2025.

Sweetgreen's net income appears to be on a downward trend, with a most recent value of -$134.07 million in 2025, falling from -$141.22 million in 2020. The previous period was -$90.37 million in 2024. See Sweetgreen's forecast for analyst expectations on what's next for the company.

Sweetgreen's total operating income in 2025 was -$139.32 million, based on the following breakdown:
  • Total Gross Profit: $103.53 million
  • Total Operating Expenses: $242.85 million

Over the last 5 years, Sweetgreen's total revenue changed from $220.62 million in 2020 to $679.47 million in 2025, a change of 208.0%.

Sweetgreen's total liabilities were at $431.98 million at the end of 2025, a 5.2% increase from 2024, and a 294.4% increase since 2021.

In the past 4 years, Sweetgreen's cash and equivalents has ranged from $89.18 million in 2025 to $471.97 million in 2021, and is currently $89.18 million as of their latest financial filing in 2025.

Over the last 5 years, Sweetgreen's book value per share changed from 0.00 in 2020 to 3.01 in 2025, a change of 300.9%.


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Financial statements for NYSE:SG last updated on 8/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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