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SHAK logoShake Shack Inc.(SHAK)Earnings, Financials & Key Ratios

SHAK•NYSE
$96.52
$3.89B mkt cap·88.6× P/E·Price updated May 6, 2026
SectorConsumer CyclicalIndustryRestaurantsSub-IndustryQuick-Service Food Chains
AboutShake Shack Inc. owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of December 29, 2021, it operated 369 Shacks, including 218 domestic company-operated Shacks, 25 domestic licensed Shacks, and 126 international licensed Shacks. Shake Shack Inc. was founded in 2001 and is headquartered in New York, New York.Show more
  • Revenue$1.45B+15.4%
  • EBITDA$192M+78.7%
  • Net Income$46M+348.0%
  • EPS (Diluted)1.09+354.2%
  • Gross Margin17.98%-60.8%
  • EBITDA Margin13.31%+54.9%
  • Operating Margin5.93%+2346.8%
  • Net Margin3.16%+288.2%
  • ROE8.73%+311.9%
  • ROIC6.03%+2617.7%
  • Debt/Equity1.63-7.1%
  • Interest Coverage34.63+334.8%
Technical→

SHAK Key Insights

Shake Shack Inc. (SHAK) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong Piotroski F-Score: 7/9
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 22.6%
  • ✓Share count reduced 5.3% through buybacks

✗Weaknesses

  • ✗Thin 5Y average net margin of 0.6%
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

SHAK Price & Volume

Shake Shack Inc. (SHAK) stock price & volume — 10-year historical chart

Loading chart...

SHAK Growth Metrics

Shake Shack Inc. (SHAK) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years22.46%
5 Years22.55%
3 Years17.08%
TTM15.38%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM347.98%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM375.15%

Return on Capital

10 Years2.18%
5 Years0.55%
3 Years2.02%
Last Year5.43%

SHAK Recent Earnings

Shake Shack Inc. (SHAK) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 10/12 qtrs (83%)●Beat Revenue 5/12 qtrs (42%)
Q1 2026Latest
Feb 26, 2026
EPS
$0.37
Est $0.35
+6.0%
Revenue
$401M
Est $402M
-0.4%
Q4 2025
Oct 30, 2025
EPS
$0.36
Est $0.32
+13.1%
Revenue
$367M
Est $364M
+1.0%
Q3 2025
Jul 31, 2025
EPS
$0.44
Est $0.37
+18.9%
Revenue
$356M
Est $364M
-2.2%
Q2 2025
May 1, 2025
EPS
$0.14
Est $0.16
-12.5%
Revenue
$321M
Est $351M
-8.5%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q1 2026LatestFeb 26, 2026
$0.37vs $0.35+6.0%
$401Mvs $402M-0.4%
Q4 2025Oct 30, 2025
$0.36vs $0.32+13.1%
$367Mvs $364M+1.0%
Q3 2025Jul 31, 2025
$0.44vs $0.37+18.9%
$356Mvs $364M-2.2%
Q2 2025May 1, 2025
$0.14vs $0.16-12.5%
$321Mvs $351M-8.5%
Based on last 12 quarters of dataView full earnings history →

SHAK Peer Comparison

Shake Shack Inc. (SHAK) competitors in Quick-Service Food Chains — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
CAVA logoCAVACAVA Group, Inc.Direct Competitor10.39B89.48165.70-12.02%4.49%4.88%0.25%0.60
TXRH logoTXRHTexas Roadhouse, Inc.Direct Competitor10.58B159.6924.6816.01%7.49%29.6%3.78%0.62
WING logoWINGWingstop Inc.Direct Competitor3.96B145.4323.4211.35%15.77%2.67%
BROS logoBROSDutch Bros Inc.Direct Competitor7.43B59.0693.7527.88%4.04%7.18%0.73%0.26
DNUT logoDNUTKrispy Kreme, Inc.Direct Competitor633.7M3.68-1.21-8.57%-33.87%-63.99%2.10
PTLO logoPTLOPortillo's Inc.Direct Competitor324M4.4916.633.03%2.12%3.17%2.01
MCD logoMCDMcDonald's CorporationProduct Competitor202.32B284.1024.941.67%32.04%3.3%
WEN logoWENThe Wendy's CompanyProduct Competitor1.27B6.6572.98%8.43%170.42%20.62%15.78

Compare SHAK vs Peers

Shake Shack Inc. (SHAK) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs CAVA

Most directly comparable listed peer for SHAK.

Scale Benchmark

vs MCD

Larger-name benchmark to compare SHAK against a more recognizable public peer.

Peer Set

Compare Top 5

vs CAVA, TXRH, WING, BROS

SHAK Income Statement

Shake Shack Inc. (SHAK) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Sales/Revenue358.81M459.31M594.52M522.87M739.89M900.49M1.09B1.25B1.45B
Revenue Growth %33.65%28.01%29.44%-12.05%41.51%21.7%20.77%15.18%15.38%
Cost of Goods Sold190.08M248.19M328.99M310.15M433.38M518.94M609.29M678.69M1.19B
COGS % of Revenue52.97%54.04%55.34%59.32%58.57%57.63%56.03%54.18%82.02%
Gross Profit
168.73M▲ 0%
211.12M▲ 25.1%
265.53M▲ 25.8%
212.72M▼ 19.9%
306.52M▲ 44.1%
381.54M▲ 24.5%
478.24M▲ 25.3%
573.92M▲ 20.0%
259.8M▼ 54.7%
Gross Margin %47.03%45.96%44.66%40.68%41.43%42.37%43.97%45.82%17.98%
Gross Profit Growth %30.62%25.12%25.77%-19.89%44.1%24.48%25.34%20.01%-54.73%
Operating Expenses134.92M179.41M239.85M256.59M322.37M408.44M472.32M570.88M174.04M
OpEx % of Revenue37.6%39.06%40.34%49.07%43.57%45.36%43.43%45.58%12.04%
Selling, General & Admin67.2M85.43M114.1M115.84M146.42M188.52M209.39M242.12M176.23M
SG&A % of Revenue18.73%18.6%19.19%22.16%19.79%20.94%19.25%19.33%12.19%
Research & Development000000000
R&D % of Revenue---------
Other Operating Expenses67.72M93.98M125.75M140.75M175.95M219.92M262.93M328.76M-2.19M
Operating Income
33.81M▲ 0%
31.71M▼ 6.2%
25.68M▼ 19.0%
-43.88M▼ 270.8%
-15.85M▲ 63.9%
-26.89M▼ 69.6%
5.92M▲ 122.0%
3.04M▼ 48.7%
85.76M▲ 2722.8%
Operating Margin %9.42%6.9%4.32%-8.39%-2.14%-2.99%0.54%0.24%5.93%
Operating Income Growth %21.61%-6.22%-19%-270.82%63.87%-69.65%122.02%-48.69%2722.81%
EBITDA55.52M60.71M66.39M6.37M44.38M47.4M98.96M107.64M192.36M
EBITDA Margin %15.47%13.22%11.17%1.22%6%5.26%9.1%8.59%13.31%
EBITDA Growth %31.22%9.36%9.35%-90.41%596.86%6.8%108.77%8.77%78.7%
D&A (Non-Cash Add-back)21.7M29M40.7M50.24M60.24M74.3M93.04M104.61M106.6M
EBIT161.94M33.23M27.95M-44.66M-15.76M-22.77M18.7M16.29M74.77M
Net Interest Income-1.64M-2.42M-434K-815K-1.58M-1.52M-1.72M-2.04M-2.16M
Interest Income000000000
Interest Expense1.64M2.42M434K815K1.58M1.52M1.72M2.04M2.16M
Other Income/Expense126.48M-901K1.83M-1.6M-1.48M2.61M11.06M11.21M-13.15M
Pretax Income
160.29M▲ 0%
30.81M▼ 80.8%
27.51M▼ 10.7%
-45.48M▼ 265.3%
-17.34M▲ 61.9%
-24.29M▼ 40.1%
16.98M▲ 169.9%
14.24M▼ 16.1%
72.61M▲ 409.8%
Pretax Margin %44.67%6.71%4.63%-8.7%-2.34%-2.7%1.56%1.14%5.02%
Income Tax151.41M8.86M3.39M57K-11.32M-1.18M-4.01M3.42M22.9M
Effective Tax Rate %94.46%28.76%12.31%-0.13%65.29%4.86%-23.62%24.04%31.54%
Net Income
-320K▲ 0%
15.18M▲ 4843.4%
19.83M▲ 30.6%
-42.16M▼ 312.6%
-4.56M▲ 89.2%
-21.23M▼ 365.4%
20.26M▲ 195.5%
10.21M▼ 49.6%
45.73M▲ 348.0%
Net Margin %-0.09%3.3%3.33%-8.06%-0.62%-2.36%1.86%0.81%3.16%
Net Income Growth %-102.57%4843.44%30.62%-312.63%89.18%-365.45%195.45%-49.63%347.98%
Net Income (Continuing)8.88M21.95M24.13M-45.53M-6.02M-23.11M20.99M10.82M49.71M
Discontinued Operations000000000
Minority Interest54.99M47.38M23.17M27.17M26.06M24.63M25.95M23.61M28.42M
EPS (Diluted)
-0.09▲ 0%
0.52▲ 694.3%
0.61▲ 17.3%
-1.23▼ 301.6%
-0.22▲ 82.1%
-0.66▼ 200.0%
0.46▲ 169.7%
0.24▼ 47.8%
1.09▲ 354.2%
EPS Growth %-116.51%694.29%17.31%-301.64%82.11%-200%169.7%-47.83%354.17%
EPS (Basic)-0.090.540.63-1.23-0.22-0.660.510.261.14
Diluted Shares Outstanding25.88M29.18M32.25M37.13M39.09M39.24M43.9M44.2M41.85M
Basic Shares Outstanding25.88M28.3M31.38M37.13M39.09M39.24M39.42M39.83M40.21M
Dividend Payout Ratio---------

SHAK Balance Sheet

Shake Shack Inc. (SHAK) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Current Assets93.2M101.12M87.67M203.19M409.68M343.99M334.43M368.22M430.35M
Cash & Short-Term Investments21.51M24.75M73.61M183.76M382.41M311.23M293.21M320.71M360.12M
Cash Only21.51M24.75M37.1M146.87M302.41M230.52M224.65M320.71M360.12M
Short-Term Investments0036.51M36.89M80M80.71M68.56M00
Accounts Receivable5.64M10.52M9.97M9.46M13.66M24M28.98M19.69M277.43M
Days Sales Outstanding5.748.366.126.616.749.739.735.7470.06
Inventory1.26M1.75M2.22M2.89M3.85M4.18M5.4M6.01M7.18M
Days Inventory Outstanding2.422.572.463.43.242.943.243.232.21
Other Current Assets2.2M01.88M7.07M9.76M763K1.19M844K-214.38M
Total Non-Current Assets377.41M509.41M885.13M942.16M1.05B1.17B1.27B1.33B1.47B
Property, Plant & Equipment187.09M261.85M589.29M642.86M736.66M834.52M929.29M976.21M1.13B
Fixed Asset Turnover1.92x1.75x1.01x0.81x1.00x1.08x1.17x1.28x1.28x
Goodwill000000000
Intangible Assets894K1.16M1.44M1.44M1.46M01.9M2.04M2.04M
Long-Term Investments-894K-1.16M0-1.44M00-1.9M00
Other Non-Current Assets4.4M5.03M10.05M12.3M11.1M15.82M14.02M8.92M8.34M
Total Assets
470.61M▲ 0%
610.53M▲ 29.7%
972.81M▲ 59.3%
1.15B▲ 17.7%
1.46B▲ 27.5%
1.51B▲ 3.5%
1.61B▲ 6.2%
1.7B▲ 5.7%
1.9B▲ 11.7%
Asset Turnover0.76x0.75x0.61x0.46x0.51x0.60x0.68x0.74x0.76x
Asset Growth %-12.56%29.73%59.34%17.74%27.54%3.5%6.21%5.67%11.74%
Total Current Liabilities34.02M59.95M99.39M109.7M121.5M147.72M164.07M187.31M244.92M
Accounts Payable8.21M12.47M14.3M23.49M19.95M20.41M22.27M23.61M24.75M
Days Payables Outstanding15.7718.3315.8727.6416.814.3513.3412.77.62
Short-Term Debt0031.88M038.23M0055.74M69.51M
Deferred Revenue (Current)1.47M1.8M2.26M2.64M3.3M2.29M2.6M2.58M0
Other Current Liabilities19.59M35.03M39.51M35.48M45.38M9.36M4.99M20.13M150.66M
Current Ratio2.74x1.69x0.88x1.85x3.37x2.33x2.04x1.97x1.76x
Quick Ratio2.70x1.66x0.86x1.83x3.34x2.30x2.01x1.93x1.73x
Cash Conversion Cycle-7.61-7.4-7.28-17.64-6.82-1.68-0.38-3.7364.65
Total Non-Current Liabilities212.1M277.13M551.43M601.15M903.68M927.4M972.42M1.02B1.1B
Long-Term Debt0000243.54M244.59M245.64M246.68M247.73M
Capital Lease Obligations14.52M20.85M308.56M347.32M404.42M431.14M473.25M503.12M584.88M
Deferred Tax Liabilities673K1.44M4.54M03.2M0005.88M
Other Non-Current Liabilities197.59M256.28M227.02M241.68M239.85M237.33M236.37M249.17M245.77M
Total Liabilities246.13M337.08M650.82M710.86M1.03B1.08B1.14B1.2B1.34B
Total Debt14.52M20.85M340.43M384.98M686.19M720.51M771.33M865.36M902.13M
Net Debt-6.99M-3.9M303.33M238.1M383.78M489.99M546.68M544.65M542M
Debt / Equity0.05x0.06x1.06x0.89x1.58x1.65x1.64x1.75x1.63x
Debt / EBITDA0.26x0.34x5.13x60.45x15.46x15.20x7.79x8.04x4.69x
Net Debt / EBITDA-0.13x-0.06x4.57x37.38x8.65x10.34x5.52x5.06x2.82x
Interest Coverage98.56x13.76x64.40x-54.80x-9.99x-15.00x10.89x7.97x34.63x
Total Equity
279.47M▲ 0%
320.83M▲ 14.8%
321.99M▲ 0.4%
434.49M▲ 34.9%
435.6M▲ 0.3%
436.84M▲ 0.3%
469.37M▲ 7.4%
493.63M▲ 5.2%
553.75M▲ 12.2%
Equity Growth %11.56%14.8%0.36%34.94%0.25%0.28%7.45%5.17%12.18%
Book Value per Share10.8011.009.9811.7011.1411.1310.6911.1713.23
Total Shareholders' Equity224.48M273.45M298.82M407.32M409.54M412.2M443.42M470.02M525.33M
Common Stock37K38K38K42K42K42K42K42K42K
Retained Earnings16.4M30.4M54.37M12.21M3.55M-3.49M16.78M26.98M72.71M
Treasury Stock000000000
Accumulated OCI-49K02K3K1K0-3K-1K-1K
Minority Interest54.99M47.38M23.17M27.17M26.06M24.63M25.95M23.61M28.42M

SHAK Cash Flow Statement

Shake Shack Inc. (SHAK) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations70.88M85.39M89.57M37.35M58.4M76.74M132.14M171.16M222.35M
Operating CF Margin %19.75%18.59%15.07%7.14%7.89%8.52%12.15%13.66%15.38%
Operating CF Growth %30.57%20.48%4.89%-58.3%56.37%31.4%72.19%29.53%29.91%
Net Income8.88M21.95M19.83M-45.53M-6.02M-23.11M20.99M10.21M49.71M
Depreciation & Amortization21.7M29M40.7M50.24M60.24M74.3M93.04M104.61M108.79M
Stock-Based Compensation5.62M6.14M05.56M8.7M13.33M14.89M15.91M19.5M
Deferred Taxes146.33M788K-6.06M-1.36M-14.47M-5.01M-9.07M-1.05M16.62M
Other Non-Cash Items-126.29M1.6M52.56M57.04M54.02M62.65M70.25M110.92M95.19M
Working Capital Changes14.62M25.92M-17.45M-28.61M-44.06M-45.41M-57.95M-69.44M-67.45M
Change in Receivables6.42M5.53M10.73M1.01M-4.19M9.14M-2.97M-2.84M-9.55M
Change in Inventory-452K-491K-472K-667K-962K-334K-1.22M-610K-1.17M
Change in Payables1.24M3.16M4.25M4.63M-6.45M3.54M687K3.36M-1.53M
Cash from Investing-61.94M-86.6M-80.69M-69.4M-144.89M-143.42M-132.32M-66.08M-165.85M
Capital Expenditures-61.53M-87.53M-106.51M-69.04M-101.5M-142.56M-146.17M-135.5M-165.85M
CapEx % of Revenue17.15%19.06%17.91%13.2%13.72%15.83%13.44%10.82%11.47%
Acquisitions5K16K0-79K00000
Investments---------
Other Investing-5K-16K079K00000
Cash from Financing965K4.45M3.46M141.82M242.02M-5.2M-5.68M-9.02M-17.1M
Debt Issued (Net)917K680K-1.93M-2.21M241.06M-2.97M-3.27M-3.96M-5.51M
Equity Issued (Net)009.2M145M0001.63M123K
Dividends Paid000000000
Share Repurchases-314K-949K0000000
Other Financing48K3.77M-3.81M-970K965K-2.23M-2.41M-6.68M-11.71M
Net Change in Cash
9.9M▲ 0%
3.24M▼ 67.2%
12.35M▲ 280.8%
109.77M▲ 788.9%
155.53M▲ 41.7%
-71.89M▼ 146.2%
-5.87M▲ 91.8%
96.06M▲ 1737.0%
39.41M▼ 59.0%
Free Cash Flow
9.35M▲ 0%
-2.13M▼ 122.8%
-16.94M▼ 695.1%
-31.69M▼ 87.1%
-43.09M▼ 36.0%
-65.82M▼ 52.7%
-14.03M▲ 78.7%
35.66M▲ 354.2%
56.51M▲ 58.5%
FCF Margin %2.6%-0.46%-2.85%-6.06%-5.82%-7.31%-1.29%2.85%3.91%
FCF Growth %6414.19%-122.79%-695.12%-87.1%-35.99%-52.74%78.69%354.18%58.48%
FCF per Share0.36-0.07-0.53-0.85-1.10-1.68-0.320.811.35
FCF Conversion (FCF/Net Income)-221.49x5.63x4.52x-0.89x-12.81x-3.61x6.52x16.77x4.86x
Interest Paid0000252K252K882K882K0
Taxes Paid00002.81M3.73M6.53M6.53M0

SHAK Key Ratios

Shake Shack Inc. (SHAK) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)5.37%-0.12%5.06%6.17%-11.15%-1.05%-4.87%4.47%2.12%8.73%
Return on Invested Capital (ROIC)10.87%9.88%8.07%4.09%-5.07%-1.59%-2.31%0.46%0.22%6.03%
Gross Margin48.12%47.03%45.96%44.66%40.68%41.43%42.37%43.97%45.82%17.98%
Net Margin4.64%-0.09%3.3%3.33%-8.06%-0.62%-2.36%1.86%0.81%3.16%
Debt / Equity0.01x0.05x0.06x1.06x0.89x1.58x1.65x1.64x1.75x1.63x
Interest Coverage77.19x98.56x13.76x64.40x-54.80x-9.99x-15.00x10.89x7.97x34.63x
FCF Conversion4.36x-221.49x5.63x4.52x-0.89x-12.81x-3.61x6.52x16.77x4.86x
Revenue Growth40.86%33.65%28.01%29.44%-12.05%41.51%21.7%20.77%15.18%15.38%

SHAK SEC Filings & Documents

Shake Shack Inc. (SHAK) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 1, 2026·SEC

Material company update

Mar 9, 2026·SEC

Material company update

Mar 2, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 26, 2026·SEC

FY 2025

Feb 21, 2025·SEC

FY 2024

Feb 29, 2024·SEC

10-Q Quarterly Reports

6
FY 2025

Oct 30, 2025·SEC

FY 2025

Jul 31, 2025·SEC

FY 2025

May 1, 2025·SEC

SHAK Frequently Asked Questions

Shake Shack Inc. (SHAK) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Shake Shack Inc. (SHAK) reported $1.45B in revenue for fiscal year 2025. This represents a 2434% increase from $57.0M in 2012.

Shake Shack Inc. (SHAK) grew revenue by 15.4% over the past year. This is strong growth.

Yes, Shake Shack Inc. (SHAK) is profitable, generating $45.7M in net income for fiscal year 2025 (3.2% net margin).

Dividend & Returns

Shake Shack Inc. (SHAK) has a return on equity (ROE) of 8.7%. This is below average, suggesting room for improvement.

Shake Shack Inc. (SHAK) generated $56.5M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Explore More SHAK

Shake Shack Inc. (SHAK) financial analysis — history, returns, DCA and operating performance tools

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Revenue History

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Valuation

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