The Cheesecake Factory Incorporated
CAKE Consumer Cyclical Restaurants
The Cheesecake Factory Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $3.8 billion, up 4.75% from fiscal 2024. In the quarter to June 2026, revenue grew 7.72%, EPS grew 24.6%, free cash flow grew 220.4% and total debt fell 10.4%, each against the same quarter a year earlier. Dividend growth for five consecutive years, revenue growth for five, operating cash flow growth for three.
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A Cash Flow Statement is a financial report that details the cash inflows and outflows of a company over a specific period. It is divided into three sections: operating activities, investing activities, and financing activities. This statement helps assess the company’s liquidity, solvency, and overall financial health. By tracking cash movements, it provides insights into the company's ability to generate cash to fund operations, pay debts, and invest in growth. Businesses and investors use it to evaluate the sustainability of a company's cash flow and its financial stability.
| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
Net Income |
148.43 | 156.78 | 101.35 | 43.12 | 72.37 | (253.36) | 127.29 | 99.04 | 157.39 | 139.49 |
Depreciation & Amortization |
109.03 | 101.45 | 93.14 | 92.38 | 89.65 | 91.42 | 88.13 | 95.98 | 92.73 | 88.01 |
Non Cash Items (Other) |
47.03 | 30.16 | 37.06 | 37.11 | 20.08 | 162.19 | (5.83) | 35.64 | 2.34 | 37.90 |
Accounts Receivable Change |
(4.08) | (1.72) | (0.10) | (12.27) | (24.82) | 15.15 | 3.78 | 3.68 | (7.19) | 6.59 |
Change in inventories |
10.56 | (6.88) | (2.09) | (12.72) | (3.48) | 7.92 | (5.77) | 3.67 | (7.63) | (0.92) |
Accounts Payable Change |
1.70 | (1.83) | 3.97 | 17.59 | (3.68) | (2.00) | 2.33 | 5.60 | 3.77 | 0.75 |
Change in payables and accrued liability |
33.53 | 21.15 | 37.42 | (9.94) | 50.10 | (8.31) | 15.58 | 9.92 | 18.76 | 36.00 |
Income tax paid |
(3.28) | 3.25 | 0.85 | 14.65 | 0.72 | (32.26) | (5.34) | 15.73 | (17.31) | 21.84 |
Change in other assets and liabilities |
(41.62) | (34.05) | (53.21) | (7.99) | 12.06 | 22.18 | (1.41) | 22.06 | (4.06) | (13.28) |
Operating Cash Flow |
301.28 | 268.33 | 218.40 | 161.93 | 213.01 | 2.91 | 218.76 | 291.32 | 238.80 | 316.38 |
Capital expenditures |
(146.20) | (160.36) | (151.56) | (112.46) | (66.94) | (50.33) | (73.76) | (102.91) | (120.78) | (115.82) |
Change in intangibles (net) |
(1.06) | (1.05) | (1.66) | (0.68) | (0.61) | (0.58) | (2.10) | (3.02) | (1.65) | (1.64) |
Net Aquisitions |
— | — | — | — | — | — | (261.69) | — | — | — |
Other investing activities |
— | 0.32 | (0.27) | 0.33 | (1.06) | (17.25) | (25.50) | (24.46) | (18.00) | (42.00) |
Investing cash flow |
(147.26) | (161.10) | (153.50) | (112.81) | (68.61) | (50.91) | (363.06) | (130.39) | (140.43) | (159.46) |
Repayment/Issuance of Debt (Net) |
175.20 | (20.00) | — | — | 195.00 | (10.00) | 280.00 | 16.66 | 10.00 | 13.53 |
Equity Repurchase (Common, Net) |
(129.29) | (5.75) | (46.08) | (63.05) | 186.07 | (3.01) | (43.26) | (100.70) | (113.94) | (118.09) |
Equity Repurchase (Preffered, Net) |
— | — | — | — | (0.07) | 200.00 | — | — | — | — |
Dividends Paid (Total) |
(52.19) | (53.04) | (53.21) | (42.27) | (19.00) | (15.79) | (60.72) | (56.25) | (49.89) | (42.37) |
Other financial activities |
(16.50) | — | (24.24) | (18.32) | (470.90) | (27.51) | (2.74) | 16.66 | 7.74 | 13.53 |
Financing cash flow |
(22.78) | (78.79) | (123.53) | (123.64) | (108.83) | 143.69 | 176.02 | (140.29) | (146.09) | (146.93) |
Exchange Rate Adjustment |
0.32 | (0.55) | 0.14 | (0.32) | (0.03) | (0.02) | 0.12 | (0.06) | (0.10) | 0.00 |
Change in Cash |
131.55 | 27.89 | (58.49) | (74.85) | 35.54 | 95.67 | 31.84 | 20.57 | (47.83) | 9.99 |
Beginning Cash |
84.18 | 56.29 | 114.78 | 189.63 | 154.09 | 58.42 | 26.58 | 6.01 | 53.84 | 43.85 |
Ending Cash |
215.73 | 84.18 | 56.29 | 114.78 | 189.63 | 154.09 | 58.42 | 26.58 | 6.01 | 53.84 |
Stock Based Compensation |
27.23 | 29.96 | 25.78 | 24.43 | 22.99 | 21.35 | 19.37 | 19.99 | 16.46 | 21.47 |
Dividends Paid (Common) |
(52.19) | (53.04) | (53.21) | (42.27) | (0.34) | (15.79) | (60.72) | (56.25) | (49.89) | (42.37) |
Net Cash/Marketcap |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Assets Liabilities Change (Total) |
(3.21) | (20.07) | (13.15) | (10.68) | 30.90 | 2.67 | 9.17 | 60.66 | (13.67) | 50.98 |
Dividends Paid (Preffered) |
— | — | — | — | (18.66) | — | — | — | — | — |
Issuance/Purchase of Shares |
(129.29) | (5.75) | (46.08) | (63.05) | 186.07 | 196.99 | (43.26) | (100.70) | (113.94) | (118.09) |
| Other line items | ||||||||||
Revenue per Employee |
0.08 | 0.07 | 0.07 | 0.07 | 0.06 | 0.05 | 0.05 | 0.06 | 0.06 | 0.06 |