The Cheesecake Factory Incorporated (CAKE) Financial Ratios
30 years of historical data (1996–2025) · Consumer Cyclical · Restaurants
EV/EBITDA
↓
23.94
↑+23% vs avg
5yr avg: 19.44
30Y Low5.2·High25.3
P/FCF
↑
24.82
+14% vs avg
5yr avg: 21.86
30Y Low7.7·High75.0
P/B Ratio
↓
8.55
↑+56% vs avg
5yr avg: 5.48
30Y Low1.4·High6.0
ROE
↑
33.7%
↓+21% vs avg
5yr avg: 27.9%
30Y Low-47%·High41%
Debt/EBITDA
↑
11.68
+12% vs avg
5yr avg: 10.46
30Y Low0.0·High14.0
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CAKE Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
The Cheesecake Factory Incorporated trades at 25.1x earnings, roughly in line with its 5-year average of 24.7x, sitting at the 52nd percentile of its historical range. Compared to the Consumer Cyclical sector median P/E of 21.2x, the stock trades at a premium of 19%. On a free-cash-flow basis, the stock trades at 24.8x P/FCF, 14% above the 5-year average of 21.9x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.8B | $2.4B | $2.3B | $1.7B | $1.6B | $1.9B | $1.6B | $1.7B | $2.0B | $2.3B | $3.0B |
| Enterprise Value | $7.1B | $5.7B | $4.1B | $3.5B | $3.3B | $3.5B | $3.1B | $3.3B | $2.0B | $2.3B | $3.0B |
| P/E Ratio → | 25.14 | 16.29 | 14.82 | 16.91 | 36.87 | 38.76 | — | 13.59 | 20.33 | 14.73 | 21.16 |
| P/S Ratio | 1.03 | 0.64 | 0.65 | 0.50 | 0.48 | 0.65 | 0.82 | 0.70 | 0.86 | 1.03 | 1.30 |
| P/B Ratio | 8.55 | 5.54 | 5.24 | 5.40 | 5.47 | 5.75 | 3.21 | 3.03 | 3.52 | 3.78 | 4.90 |
| P/FCF | 24.82 | 15.59 | 21.52 | 26.35 | 32.77 | 13.06 | — | 12.11 | 10.85 | 19.94 | 15.98 |
| P/OCF | 12.77 | 8.03 | 8.66 | 7.86 | 9.87 | 8.92 | 559.07 | 7.91 | 6.90 | 9.72 | 9.77 |
P/E links to full P/E history page with 30-year chart
CAKE EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
The Cheesecake Factory Incorporated's enterprise value stands at 23.9x EBITDA, 23% above its 5-year average of 19.4x. The Consumer Cyclical sector median is 12.2x, placing the stock at a 97% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.51 | 1.16 | 1.02 | 1.01 | 1.20 | 1.57 | 1.32 | 0.86 | 1.03 | 1.32 |
| EV / EBITDA | 23.94 | 19.12 | 14.82 | 17.46 | 25.32 | 20.50 | — | 17.11 | 9.28 | 9.46 | 10.39 |
| EV / EBIT | 37.88 | 32.68 | 22.89 | 32.43 | 82.33 | 42.83 | — | 22.97 | 17.46 | 13.17 | 13.99 |
| EV / FCF | — | 36.53 | 38.42 | 54.02 | 68.15 | 24.24 | — | 22.96 | 10.76 | 19.97 | 16.23 |
CAKE Profitability
Margins and return-on-capital ratios measuring operating efficiency
The Cheesecake Factory Incorporated earns an operating margin of 5.0%, above the Consumer Cyclical sector average of 2.0%. Operating margins have expanded from 3.2% to 5.0% over the past 3 years, signaling improving operational efficiency. Return on equity of 33.7% is exceptionally high — well above the sector median of 5.3%. ROIC of 4.7% represents below-average returns on invested capital versus a sector median of 5.2%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 78.3% | 78.3% | 77.5% | 40.9% | 38.8% | 41.1% | 37.6% | 41.1% | 41.4% | 42.6% | 43.5% |
| Operating Margin | 5.0% | 5.0% | 5.0% | 3.2% | 1.2% | 2.8% | -17.5% | 4.2% | 5.1% | 6.8% | 8.8% |
| Net Profit Margin | 4.0% | 4.0% | 4.4% | 2.9% | 1.3% | 2.5% | -12.8% | 5.1% | 4.2% | 7.0% | 6.1% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 33.7% | 33.7% | 41.2% | 33.2% | 13.9% | 17.3% | -47.0% | 22.3% | 16.7% | 25.9% | 23.4% |
| ROA | 4.7% | 4.7% | 5.3% | 3.6% | 1.5% | 2.6% | -9.1% | 6.1% | 7.5% | 12.0% | 11.0% |
| ROIC | 4.7% | 4.7% | 6.1% | 3.9% | 1.5% | 3.1% | -12.7% | 5.8% | 15.2% | 18.1% | 23.5% |
| ROCE | 7.8% | 7.8% | 7.9% | 5.1% | 1.8% | 3.8% | -15.8% | 6.6% | 13.0% | 16.5% | 22.3% |
CAKE Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
The Cheesecake Factory Incorporated carries a Debt/EBITDA ratio of 11.7x, which is highly leveraged (145% above the sector average of 4.8x). Net debt stands at $3.2B ($3.5B total debt minus $216M cash). Interest coverage of 16.6x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 7.93 | 7.93 | 4.30 | 5.85 | 6.30 | 5.50 | 3.23 | 2.81 | 0.02 | 0.02 | 0.17 |
| Debt / EBITDA | 11.68 | 11.68 | 6.82 | 9.22 | 14.02 | 10.56 | — | 8.39 | 0.05 | 0.04 | 0.35 |
| Net Debt / Equity | — | 7.44 | 4.11 | 5.67 | 5.91 | 4.93 | 2.92 | 2.71 | -0.03 | 0.01 | 0.08 |
| Net Debt / EBITDA | 10.96 | 10.96 | 6.52 | 8.94 | 13.14 | 9.46 | — | 8.08 | -0.08 | 0.02 | 0.16 |
| Debt / FCF | — | 20.93 | 16.90 | 27.67 | 35.38 | 11.18 | — | 10.84 | -0.09 | 0.03 | 0.25 |
| Interest Coverage | 16.59 | 16.59 | 17.92 | 12.69 | 6.68 | 7.69 | -40.40 | 57.20 | 16.84 | — | — |
CAKE Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.59x is below 1.0, meaning current liabilities exceed current assets. The current ratio has improved from 0.46x to 0.59x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.59 | 0.59 | 0.47 | 0.46 | 0.53 | 0.64 | 0.58 | 0.40 | 0.47 | 0.52 | 0.59 |
| Quick Ratio | 0.52 | 0.52 | 0.38 | 0.37 | 0.44 | 0.57 | 0.52 | 0.32 | 0.38 | 0.42 | 0.50 |
| Cash Ratio | 0.28 | 0.28 | 0.12 | 0.09 | 0.17 | 0.30 | 0.26 | 0.10 | 0.06 | 0.02 | 0.14 |
| Asset Turnover | — | 1.15 | 1.18 | 1.21 | 1.19 | 1.05 | 0.72 | 0.87 | 1.77 | 1.70 | 1.76 |
| Inventory Turnover | 15.07 | 15.07 | 12.49 | 35.23 | 36.41 | 40.28 | 31.48 | 30.95 | 35.15 | 30.47 | 36.84 |
| Days Sales Outstanding | — | 14.44 | 9.11 | 15.16 | 16.23 | 19.34 | 24.04 | 17.36 | 13.95 | 16.53 | 12.87 |
CAKE Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
The Cheesecake Factory Incorporated returns 5.4% to shareholders annually — split between a 1.4% dividend yield and 4.0% buyback yield. The payout ratio of 35.2% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 4.0% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.4% | 2.2% | 2.3% | 3.1% | 2.6% | 0.0% | 1.0% | 3.5% | 2.8% | 2.2% | 1.4% |
| Payout Ratio | 35.2% | 35.2% | 33.8% | 52.5% | 98.0% | 0.5% | — | 47.7% | 56.8% | 31.7% | 30.4% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.0% | 6.1% | 6.7% | 5.9% | 2.7% | 2.6% | — | 7.4% | 4.9% | 6.8% | 4.7% |
| FCF Yield | 4.0% | 6.4% | 4.6% | 3.8% | 3.1% | 7.7% | — | 8.3% | 9.2% | 5.0% | 6.3% |
| Buyback Yield | 4.0% | 6.4% | 0.8% | 2.7% | 3.9% | 0.3% | 0.2% | 2.9% | 5.4% | 5.3% | 5.0% |
| Total Shareholder Yield | 5.4% | 8.5% | 3.1% | 5.8% | 6.6% | 0.3% | 1.2% | 6.5% | 8.2% | 7.5% | 6.4% |
| Shares Outstanding | — | $48M | $49M | $49M | $50M | $49M | $44M | $45M | $46M | $48M | $49M |
Peer Comparison
Compare CAKE with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 CAKEYou | $4B | 25.1 | 23.9 | 24.8 | 78.3% | 5.0% | 33.7% | 4.7% | 11.7 |
 DRI | $25B | 24.1 | 16.6 | 24.4 | 21.9% | 11.3% | 46.1% | 13.0% | 3.3 |
 TXRH | $12B | 29.1 | 18.9 | 34.2 | 12.4% | 8.6% | 28.4% | 14.5% | 2.7 |
 BLMN | $687M | 127.7 | 10.9 | 7.1 | 8.9% | 4.1% | 2.3% | 4.3% | 9.0 |
 EAT | $7B | 19.8 | 12.2 | 17.1 | 18.2% | 9.5% | 186.7% | 19.1% | 2.4 |
 DENN | $322M | 15.2 | 12.1 | 350.6 | 73.4% | 10.0% | — | 9.7% | 6.8 |
 BJRI | $1B | 25.3 | 13.1 | 28.0 | 74.7% | 3.3% | 13.3% | 4.1% | 4.0 |
 CBRL | $1B | 23.0 | 11.6 | 17.6 | 33.0% | 1.6% | 10.3% | 2.6% | 6.2 |
 RRGB | $116M | -4.8 | 11.3 | 18.6 | 68.0% | 0.2% | — | 0.5% | 9.5 |
 FWRG | $728M | 38.1 | 13.3 | — | 13.0% | 2.8% | 3.2% | 1.9% | 6.8 |
 KRUS | $591M | -310.1 | 76.9 | — | 11.8% | -1.7% | -1.0% | -1.2% | 18.3 |
| Consumer Cyclical Median | — | 21.2 | 12.2 | 15.6 | 36.2% | 2.0% | 5.3% | 5.2% | 4.8 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 30 years · Updated daily
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CAKE — Frequently Asked Questions
Quick answers to the most common questions about buying CAKE stock.
What is The Cheesecake Factory Incorporated's P/E ratio?
The Cheesecake Factory Incorporated's current P/E ratio is 25.1x. The historical average is 28.6x. This places it at the 52th percentile of its historical range.
What is The Cheesecake Factory Incorporated's EV/EBITDA?
The Cheesecake Factory Incorporated's current EV/EBITDA is 23.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.6x.
What is The Cheesecake Factory Incorporated's ROE?
The Cheesecake Factory Incorporated's return on equity (ROE) is 33.7%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 15.0%.
Is CAKE stock overvalued?
Based on historical data, The Cheesecake Factory Incorporated is trading at a P/E of 25.1x. This is at the 52th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is The Cheesecake Factory Incorporated's dividend yield?
The Cheesecake Factory Incorporated's current dividend yield is 1.40% with a payout ratio of 35.2%.
What are The Cheesecake Factory Incorporated's profit margins?
The Cheesecake Factory Incorporated has 78.3% gross margin and 5.0% operating margin.
How much debt does The Cheesecake Factory Incorporated have?
The Cheesecake Factory Incorporated's Debt/EBITDA ratio is 11.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.