Saturday 17 October 2026 Export SHAK’s income statement to Excel — free account

Shake Shack, Inc.

Shake Shack, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.4 billion, up 15.4% from fiscal 2024. In the quarter to June 2026, revenue grew 17.2%, EPS fell 9.30%, free cash flow fell 102.7% and total debt was flat, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for five; insiders bought in the last twelve months.

69.99 0.62 −0.88%

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Market cap: $3.0B
P/E: 71.2×
Fwd P/E: 45.8×
Dividend yield: —
F-score: 7/9
Altman Z: 2.50
Beneish M: −2.40
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 3.23

Total sells 0.18

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	6	—	—	—	—	—
Sell	1	1	1	—	1	1	—	—	—	—	—	—

Insider Ownership 4.70%

Capital & Financial Ratios $m

Market Cap 3,020.00

Revenue 1,552.30

Net Income 43.30

Free Cash Flow (11.71)

Net Debt (59.71)

Current Ratio 1.67

Debt/Equity 0.43

P/E ratio 71.22

Fwd P/E 45.80

P/S ratio 1.82

P/B ratio 4.94

Past 5Y EPS Growth —

This Y EPS Growth (14.21%)

Next Y EPS Growth 23.66%

Next Y revenue growth 14.30%

Next 5Y EPS Growth 11.41%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 21.65%

10-year low 10-year high

P/S against its own 10 years 3.50%

10-year low 10-year high

P/B against its own 10 years 32.62%

10-year low 10-year high

EV/Sales against its own 10 years 3.69%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	Powerpack
2025	Powerpack
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	293	321	360	308
Receivables	17	20	33	35
Inventory	5	6	7	7
Other	—	—	—	—
	334	368	430	394

	2023	2024	2025	Q'26
Payables	22	24	25	24
ST’ Debt	—	—	—	—
Other	17	20	28	30
	164	187	245	236

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%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	367	418	—	—	—
’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	—	—	—
’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)	—	—	—
’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.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.01)	0.37	—	—	—
’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)	(0.61)
’21	0.01	0.05	(0.06)	(0.15)	(0.22)
’20	(0.03)	(0.43)	(0.15)	(0.50)	(1.14)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	30.00	30.12	36.58	43.18	30.01	66.26	37.72	40.90	64.16	72.93	Analyst estimates 2026–2028 Powerpack
	High	43.99	46.90	70.12	105.84	91.99	138.38	79.62	80.58	139.89	144.65
People
People	Employees	3,521	4,440	6,101	7,603	7,429	9,695	11,704	12,196	12,826	13,873
	Revenue/emp, $m	0.08	0.08	0.08	0.08	0.07	0.08	0.08	0.09	0.10	0.10
Income, $m
Income, $m	Revenue	268	359	459	595	523	740	900	1,088	1,253	1,445
	Gross margin, %	30.70	29.19	27.57	24.88	16.81	19.63	20.37	22.89	24.15	25.50
	EBT	28	160	31	28	(45)	(17)	(24)	17	14	73
	EBT margin, %	10.61	44.67	6.71	4.63	(8.70)	(2.34)	(2.70)	1.56	1.14	5.02
	Net income	22	9	22	24	(46)	(6)	(23)	21	11	50
	Depreciation	15	22	29	41	50	61	75	92	105	110
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
	Earnings	0.54	(0.09)	0.54	0.63	(1.14)	(0.22)	(0.61)	0.50	0.26	1.14
	Cash flow	2.36	2.74	3.02	2.86	1.01	1.49	1.96	3.35	4.30	5.53
	Capex	(2.37)	(2.38)	(3.09)	(3.39)	(1.86)	(2.60)	(3.63)	(3.71)	(3.40)	(4.12)
	Free cash flow	(0.01)	0.36	(0.08)	(0.53)	(0.85)	(1.10)	(1.68)	(0.36)	0.90	1.41
	Book value	8.77	8.68	9.66	10.26	11.70	11.14	11.13	11.91	12.39	13.77
	Shares, m	23	26	28	31	37	39	39	39	40	40
Valuation, ×
Valuation, ×	P/E	66.91	0.00	84.11	91.65	0.00	0.00	0.00	146.62	519.20	71.20
	P/S	3.09	3.15	2.80	3.14	6.02	3.81	1.82	2.66	4.13	2.26
	P/B	4.12	5.04	4.70	5.81	7.24	6.47	3.74	6.16	10.47	5.89
	EV/Sales	2.82	2.92	2.61	3.54	6.33	3.62	1.74	2.61	4.07	2.18
	EV/FCF	(5,108.56)	111.94	(562.81)	(126.41)	(104.49)	(62.23)	(23.84)	(202.61)	142.92	55.77
Cash, $m
Cash, $m	Operating cash flow	54	71	85	90	37	58	77	132	171	222
	Capex	(54)	(62)	(88)	(107)	(69)	(101)	(143)	(146)	(135)	(166)
	Free cash flow	0	9	(2)	(17)	(32)	(43)	(66)	(14)	36	57
Balance, $m
Balance, $m	Working capital	52	59	41	(12)	93	288	196	170	181	185
	Total debt	2	15	21	309	347	244	245	246	247	248
	Net debt	(72)	(70)	(66)	235	163	(139)	(67)	(48)	(74)	(112)
	Shareholders’ equity	201	224	273	322	434	436	437	469	494	554
Returns, %
Returns, %	ROA	2.71	(0.06)	2.81	2.51	(3.99)	(0.35)	(1.43)	1.30	0.62	2.55
	ROIC	13.40	13.64	9.55	2.88	(4.59)	(3.34)	(4.54)	0.88	0.45	8.85
	ROE	6.95	(0.15)	6.10	6.66	(11.15)	(1.05)	(4.87)	4.47	2.12	8.73

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
CAVA CAVA Group, Inc.	$6.5B	101×	131×	+31.30% (above 0%: growing)	+25.00% (above 0%: growing)	+52.60% (above 0%: growing)	44.93%	7.29%	Compare
CAKE The Cheesecake Factory Incorporated	$5.8B	30.0×	16.3×	+7.72% (above 0%: growing)	+24.58% (above 0%: growing)	+220.39% (above 0%: growing)	17.64%	7.63%	Compare
WING Wingstop Inc.	$3.6B	31.2×	31.6×	+6.44% (above 0%: growing)	+19.79% (above 0%: growing)	−45.18% (below 0%: shrinking)	86.49%	29.44%	Compare
SHAK Shake Shack, Inc.	$3.0B	71.2×	45.8×	+17.16% (above 0%: growing)	−9.30% (below 0%: shrinking)	−102.73% (below 0%: shrinking)	25.58%	4.97%
ARCO Arcos Dorados Holdings Inc.	$1.7B	6.5×	10.7×	+14.30% (above 0%: growing)	+100.00% (above 0%: growing)	+254.29% (above 0%: growing)	11.81%	5.56%	Compare
CHA Chagee Holdings Limited - Sponsored ADR	$1.6B	12.2×	8.9×	+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	48.2×	84.6×	−2.15% (below 0%: shrinking)	+83.33% (above 0%: growing)	+191.55% (above 0%: growing)	71.25%	1.55%	Compare
BH Biglari Holdings Inc.	$1.3B	— (loss-making)	24.0×	+7.86% (above 0%: growing)	−18.71% (below 0%: shrinking)	−66.30% (below 0%: shrinking)	41.26%	12.17%	Compare
BJRI BJ's Restaurants, Inc.	$1.3B	30.6×	20.0×	+6.37% (above 0%: growing)	−11.00% (below 0%: shrinking)	−84.81% (below 0%: shrinking)	74.52%	4.74%	Compare
Median of peers	$1.6B	30.6×	22.0×	+7.79%	+24.79%	+50.96%	49.46%	7.46%

All 56 Restaurants stocks →

Shake Shack, Inc. (SHAK) key facts

Strength: Shake Shack, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.4 billion, up 15.4% from fiscal 2024.
Shake Shack, Inc. (SHAK) is a Restaurants company in the Consumer Cyclical sector, listed on the New York Stock Exchange.
As of October 16, 2026, SHAK traded at $69.99, a market capitalization of $3.0 billion.
Return on equity was 8.73% and debt-to-equity 0.43.
Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 2.50 (grey zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.