SHAK · Shake Shack Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $366.74M | - | $367.41M | $356.47M | $320.90M | - | $316.92M | $316.50M | $290.50M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $53.61M | - | $44.38M | $40.67M | $40.64M | - | $35.69M | $36.31M | $35.94M | - |
| Total Operating Expenses | $369.37M | - | $348.86M | $334.09M | $318.06M | - | $334.91M | $305.71M | $290.47M | - |
| D&A | $29.12M | - | $27.08M | $26.55M | $26.54M | - | $25.72M | $25.50M | $21.32M | - |
| Operating Income | ($2.63M) | - | $18.55M | $22.37M | $2.84M | - | ($17.99M) | $10.78M | $34.0K | - |
| Interest Expense | $548.0K | - | $504.0K | $548.0K | $563.0K | - | $498.0K | $527.0K | $508.0K | - |
| Income Tax | ($145.0K) | - | $7.44M | $6.19M | $737.0K | - | ($3.87M) | $3.17M | $518.0K | - |
| Net Income | ($290.0K) | - | $12.50M | $17.15M | $4.25M | - | ($10.21M) | $9.67M | $2.04M | - |
| EPS - Basic | ($0.01) | - | $0.31 | $0.43 | $0.11 | - | ($0.26) | $0.24 | $0.05 | - |
| EPS - Diluted | ($0.01) | - | $0.30 | $0.41 | $0.10 | - | ($0.26) | $0.23 | $0.05 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $313.65M | $360.12M | $357.76M | $336.80M | $312.92M | $320.71M | $310.87M | $301.84M | $260.20M | $224.65M |
| Accounts Receivable | $29.17M | $32.96M | $20.61M | $21.20M | $18.28M | $19.69M | $16.74M | $15.91M | $14.46M | $16.85M |
| Inventory | $6.61M | $7.18M | $6.31M | $6.03M | $5.31M | $6.01M | $5.15M | $5.19M | $5.07M | $5.40M |
| Accounts Payable | $27.02M | $24.75M | $23.56M | $20.66M | $20.68M | $23.61M | $15.77M | $18.58M | $15.16M | $22.27M |
| Current Assets | $393.87M | $430.35M | $414.78M | $390.84M | $364.60M | $368.22M | $354.02M | $345.68M | $326.19M | $334.43M |
| Total Assets | $1.92B | $1.90B | $1.83B | $1.78B | $1.73B | $1.70B | $1.68B | $1.66B | $1.62B | $1.61B |
| Current Liabilities | $232.61M | $244.92M | $225.35M | $204.05M | $190.63M | $187.31M | $175.83M | $168.09M | $161.08M | $164.07M |
| Long-term Debt | $247.99M | $247.73M | $247.47M | $247.21M | $246.94M | $246.68M | $246.42M | $246.16M | $245.90M | $245.64M |
| Total Liabilities | $1.36B | $1.34B | $1.29B | $1.26B | $1.23B | $1.20B | $1.20B | $1.18B | $1.15B | $1.14B |
| Stockholders' Equity | $525.91M | $525.33M | $509.01M | $494.10M | $473.32M | $470.02M | $456.10M | $462.40M | $446.39M | $443.42M |
| Retained Earnings | $72.42M | $72.71M | $60.88M | $48.38M | $31.23M | $26.98M | $18.27M | $28.48M | $18.82M | $16.78M |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $8.49M | - | - | - | $31.22M | - | - | - | $30.66M | - |
| Investing Cash Flow | ($47.19M) | - | - | - | ($29.35M) | - | - | - | $11.31M | - |
| Financing Cash Flow | ($7.76M) | - | - | - | ($9.66M) | - | - | - | ($6.42M) | - |
| CapEx | $47.19M | - | - | - | $29.35M | - | - | - | $33.05M | - |
| Free Cash Flow | ($38.70M) | - | - | - | $1.87M | - | - | - | ($2.39M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | -0.7% | - | 5.0% | 6.3% | 0.9% | - | -5.7% | 3.4% | 0.0% | - |
| EBITDA margin | 7.2% | - | 12.4% | 13.7% | 9.2% | - | 2.4% | 11.5% | 7.4% | - |
| Net margin | -0.1% | - | 3.4% | 4.8% | 1.3% | - | -3.2% | 3.1% | 0.7% | - |
| Free cash flow margin | -10.6% | - | - | - | 0.6% | - | - | - | -0.8% | - |
| FCF / Net income | 133.46 | - | - | - | 0.44 | - | - | - | -1.17 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 14.6% | - | 12.1% | 11.4% | 12.7% | - | 11.3% | 11.5% | 12.4% | - |
| Effective tax rate | - | - | 37.3% | 26.5% | 14.8% | - | - | 24.7% | 20.3% | - |
| Return on assets | -0.0% | - | 0.7% | 1.0% | 0.2% | - | -0.6% | 0.6% | 0.1% | - |
| Return on equity | -0.1% | - | 2.5% | 3.5% | 0.9% | - | -2.2% | 2.1% | 0.5% | - |
| Return on invested capital | -0.3% | - | 1.5% | 2.2% | 0.3% | - | -2.0% | 1.1% | 0.0% | - |
| Liquidity | ||||||||||
| Current ratio | 1.69 | 1.76 | 1.84 | 1.92 | 1.91 | 1.97 | 2.01 | 2.06 | 2.02 | 2.04 |
| Quick ratio | 1.66 | 1.73 | 1.81 | 1.89 | 1.88 | 1.93 | 1.98 | 2.03 | 1.99 | 2.01 |
| Cash ratio | 1.35 | 1.47 | 1.59 | 1.65 | 1.64 | 1.71 | 1.77 | 1.80 | 1.62 | 1.37 |
| Leverage | ||||||||||
| Debt / Equity | 0.47 | 0.47 | 0.49 | 0.50 | 0.52 | 0.52 | 0.54 | 0.53 | 0.55 | 0.55 |
| Debt / Assets | 0.13 | 0.13 | 0.14 | 0.14 | 0.14 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 |
| Debt / EBITDA | 9.36 | - | 5.42 | 5.05 | 8.40 | - | 31.86 | 6.79 | 11.51 | - |
| Interest coverage | -4.8x | - | 36.8x | 40.8x | 5.0x | - | -36.1x | 20.5x | 0.1x | - |
| Equity multiplier | 3.65 | 3.61 | 3.59 | 3.59 | 3.65 | 3.61 | 3.67 | 3.59 | 3.63 | 3.62 |
| Liabilities / Assets | 0.71 | 0.71 | 0.71 | 0.71 | 0.71 | 0.71 | 0.71 | 0.71 | 0.71 | 0.71 |
| Efficiency | ||||||||||
| Asset turnover | 0.19 | - | 0.20 | 0.20 | 0.19 | - | 0.19 | 0.19 | 0.18 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 29d | - | 20d | 22d | 21d | - | 19d | 18d | 18d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | 317.6x | 326.6x | 933.3x | - | - | 387.9x | 2085.6x | - |
| P / B | 6.9x | - | 7.8x | 11.3x | 8.3x | - | 9.3x | 8.0x | 9.6x | - |
| P / S | 10.0x | - | 10.9x | 15.7x | 12.2x | - | 13.4x | 11.7x | 14.8x | - |
| EV / EBITDA | 135.5x | - | 85.0x | 112.6x | 130.7x | - | 538.7x | 100.5x | 200.8x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 14.3% | - | 15.9% | 12.6% | 10.5% | - | 14.7% | 16.4% | 14.7% | - |
| Revenue CAGR (3y) | 13.1% | - | 17.3% | 15.6% | 16.4% | - | 17.8% | 19.1% | 23.2% | - |
| Revenue CAGR (5y) | 18.8% | - | 23.0% | 31.2% | 17.5% | - | 15.0% | 15.7% | 17.0% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | - | - | - | 107.5% | 8258.8% | - | - | 127.1% | - | - |
| Net income growth (YoY) | - | - | - | 77.4% | 108.1% | - | - | 39.1% | - | - |
| EPS growth (YoY) | - | - | - | 78.3% | 100.0% | - | - | 43.8% | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | 66.3% | 71.0% | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | -4.5% | -9.0% | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | 83.5% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 11.1% | 11.8% | 11.6% | 6.9% | 6.0% | 6.0% | 9.5% | 13.8% | 12.9% | 12.2% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$1.45B totalReportable Segment$1.45B · 100.0%
Product / service
$1.50B totalShack Sales$1.39B · 92.8%
Franchise$54.14M · 3.6%
Sales Based Royalties$51.53M · 3.4%
Initial Territoryand Opening Fees$2.61M · 0.2%
Geographic
$1.45B totalUS$1.41B · 97.4%
Non Us$38.21M · 2.6%
Peer comparison
Same SIC group: Retail-Eating & Drinking Places
Comparing Shake Shack Inc. against the 5 most active filers in the same SIC group.