Pricing Log in Create free account
Friday 6 November 2026 Export SHAK’s income statement to Excel — free account

Shake Shack, Inc.

SHAK Consumer Cyclical Restaurants

Shake Shack, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.4 billion, up 15.4% from fiscal 2024.

Revenue
+15.2%
EPS
+32.3%
Free cash flow
−45.0%
Total debt
+0.42%

Quarter to September 2026, against a year earlier

69.68 3.14 −4.31%
Market cap
$3.0B
P/E
64.4×
Fwd P/E
63.9×
Dividend yield
—
F-score
7/9
Altman Z
2.50
Beneish M
−2.40
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 3.23
Sold, $m 0.08
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — 6 — — — — — —
Sell 1 1 — 1 1 — — — — — — —
Insider Ownership 4.80%

Capital & Financial Ratios $m

Size
Market Cap 2,990.00
Revenue ttm 1,608.16
Net income ttm 47.35
Free cash flow ttm (22.39)
Net debt Q (70.49)
Valuation
P/E 64.36 (above 35: high)
Forward P/E 63.90 (above 35: high)
Price / sales 1.75
Forward P/S Powerpack
Price / FCF 0.00
Price / book 4.73
Financial health
Current ratio Q 1.72 (at or above 1.5: strong)
Debt / equity Q 0.42 (at or below 0.5: strong)
Interest coverage Q 37.89
Growth
Revenue growth Q +15.20% (above 0%: growing)
Operating income growth Q +15.82% (above 0%: growing)
EPS, this year −10.75% (below 0%: weak)
EPS, next year A +20.23% (at or above 15%: strong)
Revenue, next year A +14.30% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +10.92%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.7×, against a ten-year median of 3.1×; over the ten years it ranged from 1.4× in 2026 to 8.7× in 2021.
P/E against its own 10 years 15.03%
10-year low 10-year high
P/S against its own 10 years 3.34%
10-year low 10-year high
P/B against its own 10 years 28.93%
10-year low 10-year high
EV/Sales against its own 10 years 3.30%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 293 321 360 319
Receivables 17 20 33 31
Inventory 5 6 7 8
Other — — — —
334 368 430 397
2023 2024 2025 Q'26
Payables 22 24 25 25
ST’ Debt — — — —
Other 17 20 28 29
164 187 245 231

Compound Annual Growth %

10y 5y 3y
Sales 22.46% 22.55% 17.08%
Cash Flow 18.35% 42.87% 42.56%
Earnings 0.00% 0.00% 0.00%
Book Value 13.43% 4.97% 8.23%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.31 Actual 0.43

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.31 0.36 Beat by 0.05
Q4 FY25 0.36 0.37 Beat by 0.01
Q1 FY26 0.11 0.00 Miss by 0.11
Q2 FY26 0.31 0.43 Beat by 0.12
Q3 FY26 0.33 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 (0.01) 0.37 0.39 — —
’25 0.10 0.41 0.30 0.28 1.09
’24 0.05 0.23 (0.26) 0.21 0.24
’23 (0.04) 0.16 0.19 0.15 0.47
’22 (0.26) (0.03) (0.05) (0.21) (0.54)
’21 0.01 0.05 (0.06) (0.15) (0.12)
’20 (0.03) (0.43) (0.15) (0.50) (1.14)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 367 418 423 — —
’25 321 356 367 401 1,445
’24 291 316 317 329 1,253
’23 253 272 276 286 1,088
’22 203 231 228 239 900
’21 155 187 194 203 740
’20 143 92 130 158 523
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 8 57 71 — —
’25 31 65 63 63 222
’24 31 54 42 45 171
’23 20 42 28 42 132
’22 8 27 19 22 77
’21 10 27 7 15 58
’20 7 11 11 9 37
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (39) (1) 13 — —
’25 2 27 24 4 57
’24 (2) 21 7 10 36
’23 (15) 2 (10) 8 (14)
’22 (20) 0 (20) (25) (66)
’21 (13) 6 (17) (18) (43)
’20 (12) (8) 1 (13) (32)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 268 359 459 595 523 740 900 1,088 1,253 1,445 1,608 +20.6% 1,652 1,893 2,151 +14.2%
Gross margin, % 30.70 29.19 27.57 24.88 16.81 19.63 20.37 22.89 24.15 25.50 0.00 (5.2) pt
EBT 28 160 31 28 (45) (17) (24) 17 14 73 67 +11.0%
EBT margin, % 10.61 44.67 6.71 4.63 (8.70) (2.34) (2.70) 1.56 1.14 5.02 4.18 (5.6) pt
Net income 22 9 22 24 (46) (6) (23) 21 11 50 47 +9.4%
Per share, $
Per share, $ Revenue 11.70 13.87 16.23 18.95 14.08 18.93 22.95 27.59 31.45 35.94 39.81 +13.3%
Earnings 0.54 (0.09) 0.54 0.63 (1.14) (0.12) (0.54) 0.50 0.26 1.14 1.08 +8.7%
Cash flow 2.36 2.74 3.02 2.86 1.01 1.49 1.96 3.35 4.30 5.53 4.93 +9.9%
Capex (2.37) (2.38) (3.09) (3.39) (1.86) (2.60) (3.63) (3.71) (3.40) (4.12) (5.48) +6.3%
Free cash flow (0.01) 0.36 (0.08) (0.53) (0.85) (1.10) (1.68) (0.36) 0.90 1.41 (0.55) n/m
Book value 8.77 8.68 9.66 10.26 11.70 11.14 11.13 11.91 12.39 13.77 14.72 +5.1%
Shares, m 23 26 28 31 37 39 39 39 40 40 40 +6.4%
Valuation, ×
Valuation, × P/E 66.91 0.00 84.11 91.65 0.00 0.00 0.00 146.62 519.20 71.20 64.36 98.0
P/S 3.09 3.15 2.80 3.14 6.02 3.81 1.82 2.66 4.13 2.26 1.75 3.3
P/B 4.12 5.04 4.70 5.81 7.24 6.47 3.74 6.16 10.47 5.89 4.73 6.0
EV/Sales 2.82 2.92 2.61 3.54 6.33 3.62 1.74 2.61 4.07 2.18 1.71 3.2
EV/FCF (5,108.56) 111.94 (562.81) (126.41) (104.49) (62.23) (23.84) (202.61) 142.92 55.77 (122.58) (588.0)
Cash, $m
Cash, $m Operating cash flow 54 71 85 90 37 58 77 132 171 222 199 +17.0%
Capex (54) (62) (88) (107) (69) (101) (143) (146) (135) (166) (222) +13.2%
Free cash flow 0 9 (2) (17) (32) (43) (66) (14) 36 57 (22) n/m
Balance, $m
Balance, $m Working capital 52 59 41 (12) 93 288 196 170 181 185 166 +15.1%
Net debt (72) (70) (66) 235 163 (139) (67) (48) (74) (112) (70) +5.1%
Shareholders’ equity 201 224 273 322 434 436 437 469 494 554 595 +11.9%
Returns, %
Returns, % ROA 2.71 (0.06) 2.81 2.51 (3.99) (0.35) (1.43) 1.30 0.62 2.55 2.29 (0.2) pt
ROIC 13.40 13.64 9.55 2.88 (4.59) (3.34) (4.54) 0.88 0.45 8.85 6.95 (4.6) pt
ROE 6.95 (0.15) 6.10 6.66 (11.15) (1.05) (4.87) 4.47 2.12 8.73 7.74 +1.8 pt
People
People Employees 3,521 4,440 6,101 7,603 7,429 9,695 11,704 12,196 12,826 13,873 — +16.5%
Revenue/emp, $m 0.08 0.08 0.08 0.08 0.07 0.08 0.08 0.09 0.10 0.10 — +3.5%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Shake Shack, Inc. vs peers in Restaurants (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
JMKE Jersey Mike�s Subs Inc. $6.4B — — — — — 100.00% 22.97% Compare
CAKE The Cheesecake Factory Incorporated $5.5B 24.9× 24.0× +13.91% (above 0%: growing) +92.65% (above 0%: growing) +24.49% (above 0%: growing) 16.35% 7.25% Compare
WING Wingstop Inc. $4.5B 38.8× 36.2× +5.35% (above 0%: growing) +5.18% (above 0%: growing) −19.32% (below 0%: shrinking) 85.30% 27.38% Compare
SHAK Shake Shack, Inc. $3.0B 64.4× 63.9× +15.20% (above 0%: growing) +32.26% (above 0%: growing) −44.96% (below 0%: shrinking) 0.00% 5.08%
CHA Chagee Holdings Limited - Sponsored ADR $1.5B 12.1× 9.1× +8.20% (above 0%: growing) +620.00% (above 0%: growing) +49.31% (above 0%: growing) 53.99% 15.37% Compare
CBRL Cracker Barrel Old Country Store, Inc. $1.5B 47.5× 36.9× −2.15% (below 0%: shrinking) +83.33% (above 0%: growing) +191.55% (above 0%: growing) 71.25% 1.55% Compare
WEN The Wendy's Company $1.5B 15.6× 15.3× −0.46% (below 0%: shrinking) −65.22% (below 0%: shrinking) −20.35% (below 0%: shrinking) 57.01% 10.20% Compare
ARCO Arcos Dorados Holdings Inc. $1.5B 5.7× 8.5× +14.30% (above 0%: growing) +100.00% (above 0%: growing) +254.29% (above 0%: growing) 11.81% 5.56% Compare
SG Sweetgreen, Inc. $1.4B 105× — (loss-making) +3.81% (above 0%: growing) n/m +19.78% (above 0%: growing) 13.07% (14.23%) Compare
Median of peers $1.5B 24.9× 19.7× +5.35% +87.99% +24.49% 55.50% 8.73%

All 55 Restaurants stocks →

Pay and ownership Proxy statement filed 29 April 2026

Ownership

Directors and executive officers, together 8.30% of the votes
BlackRock, Inc. 13.40% of the votes
Daniel Meyer 8.10% of the votes
Wellington Management Group LLP 5.00% of the votes
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Shake Shack, Inc. (SHAK) Latest News

5 Nov

Impact 3 · · GuruFocus.com
Impact 3 · · Moby
Impact 3 · · MT Newswires
Impact 3 · · The Motley Fool transcript
Impact 3 · · InvestorsHub
Impact 3 · · Business Wire

29 Oct

Impact 3 · · Zacks

26 Oct

Impact 3 · · MT Newswires

23 Oct

Impact 3 · · Investing.com

21 Oct

Impact 4 · · Zacks

14 Oct

Impact 3 · · Zacks

12 Oct

Impact 3 · · Simply Wall St.

8 Oct

Impact 4 · · verdictfoodservice.com
Impact 4 · · Zacks
Impact 4 · · Simply Wall St.
Impact 3 · · Zacks

7 Oct

Impact 4 · · Business Wire
Impact 3 · · StockStory

6 Oct

Impact 4 · · Zacks
Impact 3 · · StockStory

21 Sep

Impact 3 · · Zacks
Impact 3 · · Insider Monkey

18 Sep

Impact 3 ·

3 Sep

Impact 3 ·

20 Aug

Impact 3 · · qsrmagazine.com

17 Aug

Impact 3 ·
Impact 3 ·
Impact 3 ·

16 Aug

Impact 4 ·
Impact 4 ·

SHAK metrics, ten years each

stockrow.com/SHAK · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com