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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%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
71.20 | 519.20 | 146.62 | 0.00 | 0.00 | 0.00 | 91.65 | 84.11 | 0.00 | 66.91 |
Piotroski F-Score |
7 | 6 | 7 | 5 | 7 | 4 | 3 | 5 | 4 | 4 |
P/S ratio |
2.26 | 4.13 | 2.66 | 1.82 | 3.81 | 6.02 | 3.14 | 2.80 | 3.15 | 3.09 |
Altman Z-Score |
2.50 | 3.47 | 2.37 | 1.60 | 2.37 | 3.10 | 2.50 | 3.36 | 3.92 | 2.29 |
P/FCF ratio |
57.76 | 144.99 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 120.95 | 0.00 |
Altman Z″-Score (non-manufacturers) |
1.42 | 1.19 | 1.19 | 1.15 | 1.68 | 0.95 | 0.81 | 1.81 | 2.38 | 1.71 |
Beneish M-Score |
(2.40) | (2.81) | (2.66) | (2.79) | (2.31) | (2.65) | (3.27) | (2.36) | (3.39) | (2.25) |
P/Operating CF |
51.70 | 114.68 | 69.55 | 72.99 | 192.33 | 355.60 | 111.18 | 56.85 | 66.85 | 60.26 |
P/B ratio |
5.89 | 10.47 | 6.16 | 3.74 | 6.47 | 7.24 | 5.81 | 4.70 | 5.04 | 4.12 |
Price to Tangible BV |
5.89 | 10.47 | 6.16 | 3.74 | 6.47 | 7.24 | 5.81 | 4.70 | 5.04 | 4.12 |
EV/Sales |
2.18 | 4.07 | 2.61 | 1.74 | 3.62 | 6.33 | 3.54 | 2.61 | 2.92 | 2.82 |
EV/EBITDA |
18.29 | 47.07 | 28.89 | 32.38 | 59.26 | 519.88 | 31.70 | 19.75 | 18.84 | 17.87 |
EV/Operating CF |
14.17 | 29.77 | 21.51 | 20.44 | 45.91 | 88.65 | 23.42 | 14.04 | 14.76 | 13.93 |
EV/FCF |
55.77 | 142.92 | (202.61) | (23.84) | (62.23) | (104.49) | (126.41) | (562.81) | 111.94 | (5,108.56) |
Quick Ratio |
1.61 | 1.82 | 1.89 | 2.20 | 3.26 | 1.76 | 0.84 | 1.62 | 2.65 | 2.51 |
Current Ratio |
1.76 | 1.97 | 2.04 | 2.33 | 3.37 | 1.85 | 0.88 | 1.69 | 2.74 | 2.65 |
Net Debt/EBITDA |
(0.65) | (0.68) | (0.48) | (1.38) | (3.07) | 25.63 | 3.55 | (1.08) | (1.25) | (1.69) |
Debt/Assets |
13.06% | 14.54% | 15.30% | 16.18% | 16.71% | 30.30% | 31.91% | 3.44% | 3.19% | 0.37% |
Debt/Equity |
0.45 | 0.50 | 0.52 | 0.56 | 0.56 | 0.80 | 0.96 | 0.08 | 0.07 | 0.01 |
Asset Turnover |
0.80 | 0.76 | 0.70 | 0.61 | 0.57 | 0.49 | 0.75 | 0.85 | 0.71 | 0.59 |
Operating CF/Net income |
4.86 | 16.77 | 6.52 | (3.61) | (12.81) | (0.89) | 4.53 | 5.63 | (221.49) | 4.36 |
Capex/Depreciation |
(1.51) | (1.29) | (1.58) | (1.89) | (1.66) | (1.37) | (2.62) | (3.02) | (2.84) | (3.75) |
Interest Coverage |
28.95 | 1.49 | 3.45 | (17.72) | (10.05) | (53.84) | 59.18 | 13.13 | 20.58 | 74.34 |
| 8.73% | 2.12% | 4.47% | (4.87%) | (1.05%) | (11.15%) | 6.66% | 6.10% | (0.15%) | 6.95% | |
| 2.55% | 0.62% | 1.30% | (1.43%) | (0.35%) | (3.99%) | 2.51% | 2.81% | (0.06%) | 2.71% | |
ROIC |
8.85% | 0.45% | 0.88% | (4.54%) | (3.34%) | (4.59%) | 2.88% | 9.55% | 13.64% | 13.40% |
Return on Tangible Assets |
5.64% | 1.39% | 2.89% | (3.20%) | (0.67%) | (9.80%) | 6.54% | 5.01% | (0.13%) | 6.60% |
Average Days of Receivables |
8.32 | 5.74 | 5.65 | 5.62 | 6.74 | 6.61 | 6.12 | 8.36 | 5.74 | 8.17 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
12.19% | 11.90% | 11.91% | 13.33% | 11.78% | 12.29% | 11.04% | 11.48% | 10.87% | 11.38% |
Intangible Assets out of Total Assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Share Based Compensation of Revenue |
1.35% | 1.27% | 1.37% | 1.48% | 1.18% | 1.06% | 1.26% | 1.34% | 1.57% | 1.99% |
Graham Net Nets |
(0.28) | (0.16) | (0.28) | (0.45) | (0.22) | (0.16) | (0.30) | (0.18) | (0.14) | (0.30) |
Graham Number |
18.79 | 8.35 | 11.57 | 0.00 | 0.00 | 0.00 | 12.25 | 10.84 | 0.00 | 10.32 |
Earnings Yield |
1.40% | 0.19% | 0.68% | (1.32%) | (0.19%) | (1.31%) | 1.09% | 1.19% | (0.18%) | 1.49% |
Free Cash Flow Yield |
1.73% | 0.69% | (0.49%) | (4.02%) | (1.53%) | (1.01%) | (0.89%) | (0.17%) | 0.83% | (0.02%) |
Revenue per Share |
35.94 | 31.45 | 27.59 | 22.95 | 18.93 | 14.08 | 18.95 | 16.23 | 13.87 | 11.70 |
Operating CF per Share |
5.53 | 4.30 | 3.35 | 1.96 | 1.49 | 1.01 | 2.86 | 3.02 | 2.74 | 2.36 |
Capex per Share |
(4.12) | (3.40) | (3.71) | (3.63) | (2.60) | (1.86) | (3.39) | (3.09) | (2.38) | (2.37) |
Free Cash Flow per Share |
1.41 | 0.90 | (0.36) | (1.68) | (1.10) | (0.85) | (0.53) | (0.08) | 0.36 | (0.01) |
Cash per Share |
8.96 | 8.05 | 7.44 | 7.93 | 9.78 | 4.95 | 2.35 | 3.07 | 3.27 | 3.21 |
Shareholders Equity per Share |
13.77 | 12.39 | 11.91 | 11.13 | 11.14 | 11.70 | 10.26 | 9.66 | 8.68 | 8.77 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
13.77 | 12.39 | 11.91 | 11.13 | 11.14 | 11.70 | 10.26 | 9.66 | 8.68 | 8.77 |
Free Cash Flow |
56.51 | 35.66 | (14.03) | (65.82) | (43.09) | (31.69) | (16.65) | (2.13) | 9.35 | (0.15) |
Working Capital |
185.43 | 180.90 | 170.37 | 196.27 | 288.18 | 93.48 | (11.72) | 41.17 | 59.18 | 52.23 |
Capital Expenditures |
(165.85) | (135.50) | (146.17) | (142.56) | (101.49) | (69.04) | (106.51) | (87.52) | (61.53) | (54.43) |
Net Current Asset Value |
(912.11) | (835.13) | (802.05) | (731.13) | (612.29) | (507.67) | (558.61) | (235.96) | (152.93) | (252.90) |
EV/EBIT |
50.42 | 1,677.39 | 480.03 | 0.00 | 0.00 | 0.00 | 81.95 | 37.80 | 30.94 | 27.19 |
Capex to Sales |
0.11 | 0.11 | 0.13 | 0.16 | 0.14 | 0.13 | 0.18 | 0.19 | 0.17 | 0.20 |
Price to Operating Income |
52.22 | 1,701.76 | 488.07 | 0.00 | 0.00 | 0.00 | 72.78 | 40.53 | 33.43 | 29.83 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.18 | 0.19 | 0.17 | 0.16 | 0.16 | 0.15 | 0.13 | 0.11 | 0.12 | 0.11 |
Cash ROIC |
4.86% | 3.36% | (1.39%) | (6.63%) | (4.06%) | (3.28%) | (2.36%) | (0.56%) | 2.88% | (0.05%) |
Accounts Receivable Turnover |
54.90 | 68.57 | 70.79 | 65.41 | 64.00 | 53.81 | 58.02 | 56.83 | 61.61 | 52.52 |
Accounts Payable Turnover |
44.53 | 41.42 | 39.30 | 35.54 | 27.38 | 23.02 | 33.37 | 32.18 | 33.58 | 27.15 |
Inventory Turnover |
163.19 | 166.43 | 174.92 | 178.52 | 176.50 | 170.27 | 224.99 | 221.27 | 246.20 | 275.85 |
Average Days of Payables |
8.39 | 9.07 | 9.69 | 10.39 | 12.24 | 19.71 | 11.69 | 13.68 | 11.79 | 13.58 |
Days of Inventory on Hand |
2.43 | 2.31 | 2.35 | 2.13 | 2.36 | 2.42 | 1.82 | 1.92 | 1.81 | 1.58 |
Average Receivables |
26.32 | 18.27 | 15.36 | 13.77 | 11.56 | 9.72 | 10.25 | 8.08 | 5.82 | 5.11 |
Average Payables |
24.18 | 22.94 | 21.34 | 20.18 | 21.72 | 18.89 | 13.38 | 10.34 | 7.57 | 6.85 |
Average Inventory |
6.60 | 5.71 | 4.79 | 4.02 | 3.37 | 2.55 | 1.99 | 1.50 | 1.03 | 0.67 |
Average Assets |
1,796.59 | 1,651.41 | 1,558.90 | 1,484.76 | 1,301.46 | 1,056.81 | 789.40 | 540.57 | 504.40 | 458.87 |
Average Common Equity |
523.69 | 481.50 | 453.10 | 436.22 | 435.05 | 378.24 | 297.72 | 248.97 | 212.92 | 179.19 |
Columns are period end dates · fundamentals updated 5 Nov 2026