Cava is nearing the 1-year mark since its IPO and needless to say, it’s gotten plenty of attention as being the next Chipotle (CMG). I originally covered the name last year which you can find below. Because of this comparison to Chipotle, the valuation of the company has reached stratospheric levels with many bulls consistently finding reasons to bid it up. However, in my opinion, the market is bidding up Cava's valuation despite its inferior AUV and restaurant-level margins.