What is Shake Shack Inc's earnings per share (EPS)?

Shake Shack Inc (SHAK) reported diluted earnings per share of $1.09 for fiscal year 2025. This represents a 354.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Shake Shack Inc Financials

SHAK

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Shake Shack Inc (SHAK) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 47/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Shake Shack Inc has an operating margin of 4.3%, meaning the company retains $4 of operating profit per $100 of revenue. This results in a moderate score of 32/100, indicating healthy but not exceptional operating efficiency. This is up from 0.2% the prior year.

Growth

Shake Shack Inc's revenue surged 15.4% year-over-year to $1.4B, reflecting rapid business expansion. This strong growth earns a score of 59/100.

Leverage

Shake Shack Inc carries a low D/E ratio of 0.47, meaning only $0.47 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 92/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Shake Shack Inc's current ratio of 1.76 indicates adequate short-term liquidity, earning a score of 31/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Shake Shack Inc has a free cash flow margin of 3.9%, earning a moderate score of 35/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Shake Shack Inc's ROE of 8.7% shows moderate profitability relative to equity, earning a score of 30/100. This is up from 2.2% the prior year.

Altman Z-Score Grey Zone

2.65

Shake Shack Inc scores 2.65, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($3.6B) relative to total liabilities ($1.3B). This signals moderate financial risk that warrants monitoring.

Piotroski F-Score Neutral

6/9

Shake Shack Inc passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

4.86x

For every $1 of reported earnings, Shake Shack Inc generates $4.86 in operating cash flow ($222.4M OCF vs $45.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe

29.0x

Shake Shack Inc earns $29.0 in operating income for every $1 of interest expense ($62.5M vs $2.2M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.4B

YoY+15.4%

5Y CAGR+22.6%

10Y CAGR+33.2%

Shake Shack Inc generated $1.4B in revenue in fiscal year 2025. This represents an increase of 15.4% from the prior year.

EBITDA

$169.1M

YoY+60.3%

5Y CAGR+102.8%

10Y CAGR+33.4%

Shake Shack Inc's EBITDA was $169.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 60.3% from the prior year.

Net Income

$45.7M

YoY+348.0%

10Y CAGR+23.8%

Shake Shack Inc reported $45.7M in net income in fiscal year 2025. This represents an increase of 348.0% from the prior year.

EPS (Diluted)

$1.09

YoY+354.2%

10Y CAGR+19.7%

Shake Shack Inc earned $1.09 per diluted share (EPS) in fiscal year 2025. This represents an increase of 354.2% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$56.5M

YoY+58.5%

Shake Shack Inc generated $56.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 58.5% from the prior year.

Cash & Debt

$360.1M

YoY+12.3%

5Y CAGR+19.6%

10Y CAGR+63.3%

Shake Shack Inc held $360.1M in cash against $247.7M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

4.3%

YoY+4.1pp

5Y CAGR+12.7pp

10Y CAGR-2.9pp

Shake Shack Inc's operating margin was 4.3% in fiscal year 2025, reflecting core business profitability. This is up 4.1 percentage points from the prior year.

Net Margin

3.2%

YoY+2.4pp

5Y CAGR+11.2pp

10Y CAGR-3.4pp

Shake Shack Inc's net profit margin was 3.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 2.4 percentage points from the prior year.

Return on Equity

8.7%

YoY+6.5pp

5Y CAGR+19.1pp

10Y CAGR-5.8pp

Shake Shack Inc's ROE was 8.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 6.5 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$165.8M

YoY+22.4%

5Y CAGR+19.2%

10Y CAGR+26.2%

Shake Shack Inc invested $165.8M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 22.4% from the prior year.

SHAK Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$1.4B+15.4%	$1.3B+15.2%	$1.1B+20.8%	$900.5M+21.7%	$739.9M+41.5%	$522.9M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$176.2M+18.2%	$149.0M+15.1%	$129.5M+7.9%	$120.0M+37.6%	$87.2M+35.7%	$64.3M
Operating Income	$62.5M+1957.5%	$3.0M-48.7%	$5.9M+122.0%	-$26.9M-69.6%	-$15.9M+63.9%	-$43.9M
Interest Expense	$2.2M+5.6%	$2.0M+19.1%	$1.7M+13.1%	$1.5M-3.7%	$1.6M+93.5%	$815K
Income Tax	$22.9M+568.9%	$3.4M+185.4%	-$4.0M-239.8%	-$1.2M+89.6%	-$11.3M-19956.1%	$57K
Net Income	$45.7M+348.0%	$10.2M-49.6%	$20.3M+195.5%	-$21.2M-365.4%	-$4.6M+89.2%	-$42.2M
EPS (Diluted)	$1.09+354.2%	$0.24-50.0%	$0.48+188.9%	$-0.54-350.0%	$-0.12+89.5%	$-1.14

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$400.5M+9.0%	$367.4M+3.1%	$356.5M+11.1%	$320.9M-2.4%	$328.7M+3.7%	$316.9M+0.1%	$316.5M+8.9%	$290.5M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$50.5M+13.9%	$44.4M+9.1%	$40.7M+0.1%	$40.6M-1.1%	$41.1M+15.2%	$35.7M-1.7%	$36.3M+1.0%	$35.9M
Operating Income	$18.7M+1.1%	$18.5M-17.1%	$22.4M+687.3%	$2.8M-72.2%	$10.2M+156.8%	-$18.0M-266.8%	$10.8M+31611.8%	$34K
Interest Expense	$544K+7.9%	$504K-8.0%	$548K-2.7%	$563K+10.0%	$512K+2.8%	$498K-5.5%	$527K+3.7%	$508K
Income Tax	$8.5M+14.8%	$7.4M+20.1%	$6.2M+740.3%	$737K-79.6%	$3.6M+193.1%	-$3.9M-222.1%	$3.2M+512.5%	$518K
Net Income	$11.8M-5.4%	$12.5M-27.1%	$17.1M+304.0%	$4.2M-51.3%	$8.7M+185.3%	-$10.2M-205.6%	$9.7M+373.9%	$2.0M
EPS (Diluted)	N/A	$0.30-26.8%	$0.41+310.0%	$0.10	N/A	$-0.26-213.0%	$0.23+360.0%	$0.05

SHAK Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$1.9B+11.7%	$1.7B+5.7%	$1.6B+6.2%	$1.5B+2.7%	$1.5B+28.5%	$1.1B
Current Assets	$430.3M+16.9%	$368.2M+10.1%	$334.4M-2.8%	$344.0M-16.0%	$409.7M+101.6%	$203.2M
Cash & Equivalents	$360.1M+12.3%	$320.7M+42.8%	$224.7M-2.5%	$230.5M-23.8%	$302.4M+105.9%	$146.9M
Inventory	$7.2M+19.4%	$6.0M+11.3%	$5.4M+29.2%	$4.2M+8.7%	$3.9M+33.3%	$2.9M
Accounts Receivable	$33.0M+67.4%	$19.7M+16.9%	$16.8M+21.4%	$13.9M+1.6%	$13.7M+44.3%	$9.5M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.3B+11.6%	$1.2B+5.9%	$1.1B+5.7%	$1.1B+5.2%	$1.0B+43.8%	$710.9M
Current Liabilities	$244.9M+30.8%	$187.3M+14.2%	$164.1M+11.1%	$147.7M+21.6%	$121.5M+10.7%	$109.7M
Long-Term Debt	$247.7M+0.4%	$246.7M+0.4%	$245.6M+0.4%	$244.6M+0.4%	$243.5M	$0
Total Equity	$525.3M+11.8%	$470.0M+6.0%	$443.4M+7.6%	$412.2M+0.7%	$409.5M+0.5%	$407.3M
Retained Earnings	$72.7M+169.5%	$27.0M+60.8%	$16.8M+581.1%	-$3.5M-119.7%	$17.7M+45.3%	$12.2M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$1.9B+3.8%	$1.8B+2.9%	$1.8B+2.8%	$1.7B+1.8%	$1.7B+1.3%	$1.7B+0.8%	$1.7B+2.7%	$1.6B
Current Assets	$430.3M+3.8%	$414.8M+6.1%	$390.8M+7.2%	$364.6M-1.0%	$368.2M+4.0%	$354.0M+2.4%	$345.7M+6.0%	$326.2M
Cash & Equivalents	$360.1M+0.7%	$357.8M+6.2%	$336.8M+7.6%	$312.9M-2.4%	$320.7M+3.2%	$310.9M+3.0%	$301.8M+16.0%	$260.2M
Inventory	$7.2M+13.8%	$6.3M+4.7%	$6.0M+13.5%	$5.3M-11.7%	$6.0M+16.9%	$5.1M-0.9%	$5.2M+2.4%	$5.1M
Accounts Receivable	$33.0M+59.9%	$20.6M-2.8%	$21.2M+16.0%	$18.3M-7.1%	$19.7M+17.6%	$16.7M+5.2%	$15.9M+10.1%	$14.5M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.3B+3.9%	$1.3B+2.9%	$1.3B+2.1%	$1.2B+2.2%	$1.2B+0.6%	$1.2B+1.8%	$1.2B+2.5%	$1.1B
Current Liabilities	$244.9M+8.7%	$225.3M+10.4%	$204.1M+7.0%	$190.6M+1.8%	$187.3M+6.5%	$175.8M+4.6%	$168.1M+4.3%	$161.1M
Long-Term Debt	$247.7M+0.1%	$247.5M+0.1%	$247.2M+0.1%	$246.9M+0.1%	$246.7M+0.1%	$246.4M+0.1%	$246.2M+0.1%	$245.9M
Total Equity	$525.3M+3.2%	$509.0M+3.0%	$494.1M+4.4%	$473.3M+0.7%	$470.0M+3.1%	$456.1M-1.4%	$462.4M+3.6%	$446.4M
Retained Earnings	$72.7M+19.4%	$60.9M+25.8%	$48.4M+54.9%	$31.2M+15.7%	$27.0M+47.7%	$18.3M-35.8%	$28.5M+51.4%	$18.8M

SHAK Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$222.4M+29.9%	$171.2M+29.5%	$132.1M+72.2%	$76.7M+31.4%	$58.4M+56.4%	$37.4M
Capital Expenditures	$165.8M+22.4%	$135.5M-7.3%	$146.2M+2.5%	$142.6M+40.5%	$101.5M+47.0%	$69.0M
Free Cash Flow	$56.5M+58.5%	$35.7M+354.2%	-$14.0M+78.7%	-$65.8M-52.7%	-$43.1M-36.0%	-$31.7M
Investing Cash Flow	-$165.8M-151.0%	-$66.1M+50.1%	-$132.3M+7.7%	-$143.4M+1.0%	-$144.9M-108.8%	-$69.4M
Financing Cash Flow	-$17.1M-89.6%	-$9.0M-58.6%	-$5.7M-9.3%	-$5.2M-102.1%	$242.0M+70.7%	$141.8M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$63.1M+0.2%	$63.0M-3.1%	$65.0M+108.2%	$31.2M-30.7%	$45.1M+7.7%	$41.9M-21.8%	$53.5M+74.6%	$30.7M
Capital Expenditures	$59.2M+50.7%	$39.3M+3.1%	$38.1M+29.8%	$29.4M-15.4%	$34.7M-0.3%	$34.8M+5.7%	$32.9M-0.4%	$33.1M
Free Cash Flow	$4.0M-83.2%	$23.7M-11.8%	$26.9M+1339.1%	$1.9M-82.0%	$10.4M+47.2%	$7.1M-65.8%	$20.6M+962.6%	-$2.4M
Investing Cash Flow	-$59.2M-50.7%	-$39.3M-3.1%	-$38.1M-29.8%	-$29.4M+15.4%	-$34.7M-9.1%	-$31.8M-192.4%	-$10.9M-196.2%	$11.3M
Financing Cash Flow	-$1.6M+42.0%	-$2.8M+7.8%	-$3.0M+68.7%	-$9.7M-1699.3%	-$537K+47.8%	-$1.0M+0.3%	-$1.0M+83.9%	-$6.4M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

SHAK Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	4.3%+4.1pp	0.2%-0.3pp	0.5%+3.5pp	-3.0%-0.9pp	-2.1%+6.3pp	-8.4%
Net Margin	3.2%+2.4pp	0.8%-1.0pp	1.9%+4.2pp	-2.4%-1.7pp	-0.6%+7.4pp	-8.1%
Return on Equity	8.7%+6.5pp	2.2%-2.4pp	4.6%+9.7pp	-5.1%-4.0pp	-1.1%+9.2pp	-10.3%
Return on Assets	2.4%+1.8pp	0.6%-0.7pp	1.3%+2.7pp	-1.4%-1.1pp	-0.3%+3.4pp	-3.7%
Current Ratio	1.76-0.2	1.97-0.1	2.04-0.3	2.33-1.0	3.37+1.5	1.85
Debt-to-Equity	0.47-0.1	0.52-0.0	0.55-0.0	0.590.0	0.59+0.6	0.00
FCF Margin	3.9%+1.1pp	2.9%+4.1pp	-1.3%+6.0pp	-7.3%-1.5pp	-5.8%+0.2pp	-6.1%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	4.7%-0.4pp	5.1%-1.2pp	6.3%+5.4pp	0.9%-2.2pp	3.1%+8.8pp	-5.7%-9.1pp	3.4%+3.4pp	0.0%
Net Margin	2.9%-0.5pp	3.4%-1.4pp	4.8%+3.5pp	1.3%-1.3pp	2.6%+5.9pp	-3.2%-6.3pp	3.0%+2.4pp	0.7%
Return on Equity	2.3%-0.2pp	2.5%-1.0pp	3.5%+2.6pp	0.9%-0.9pp	1.8%+4.1pp	-2.2%-4.3pp	2.1%+1.6pp	0.5%
Return on Assets	0.6%-0.1pp	0.7%-0.3pp	1.0%+0.7pp	0.3%-0.3pp	0.5%+1.1pp	-0.6%-1.2pp	0.6%+0.4pp	0.1%
Current Ratio	1.76-0.1	1.84-0.1	1.920.0	1.91-0.1	1.97-0.0	2.01-0.0	2.06+0.0	2.02
Debt-to-Equity	0.47-0.0	0.49-0.0	0.50-0.0	0.520.0	0.52-0.0	0.540.0	0.53-0.0	0.55
FCF Margin	1.0%-5.5pp	6.5%-1.1pp	7.5%+7.0pp	0.6%-2.6pp	3.2%+0.9pp	2.2%-4.3pp	6.5%+7.3pp	-0.8%

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Frequently Asked Questions

What is Shake Shack Inc's annual revenue?

Shake Shack Inc (SHAK) reported $1.4B in total revenue for fiscal year 2025. This represents a 15.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Shake Shack Inc's revenue growing?

Shake Shack Inc (SHAK) revenue grew by 15.4% year-over-year, from $1.3B to $1.4B in fiscal year 2025.

Is Shake Shack Inc profitable?

Yes, Shake Shack Inc (SHAK) reported a net income of $45.7M in fiscal year 2025, with a net profit margin of 3.2%.

What is Shake Shack Inc's EBITDA?

Shake Shack Inc (SHAK) had EBITDA of $169.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Shake Shack Inc have?

As of fiscal year 2025, Shake Shack Inc (SHAK) had $360.1M in cash and equivalents against $247.7M in long-term debt.

What is Shake Shack Inc's operating margin?

Shake Shack Inc (SHAK) had an operating margin of 4.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Shake Shack Inc's net profit margin?

Shake Shack Inc (SHAK) had a net profit margin of 3.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Shake Shack Inc's return on equity (ROE)?

Shake Shack Inc (SHAK) has a return on equity of 8.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Shake Shack Inc's free cash flow?

Shake Shack Inc (SHAK) generated $56.5M in free cash flow during fiscal year 2025. This represents a 58.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Shake Shack Inc's operating cash flow?

Shake Shack Inc (SHAK) generated $222.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Shake Shack Inc's total assets?

Shake Shack Inc (SHAK) had $1.9B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Shake Shack Inc's capital expenditures?

Shake Shack Inc (SHAK) invested $165.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

What is Shake Shack Inc's current ratio?

Shake Shack Inc (SHAK) had a current ratio of 1.76 as of fiscal year 2025, which is generally considered healthy.

What is Shake Shack Inc's debt-to-equity ratio?

Shake Shack Inc (SHAK) had a debt-to-equity ratio of 0.47 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Shake Shack Inc's return on assets (ROA)?

Shake Shack Inc (SHAK) had a return on assets of 2.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Shake Shack Inc's Altman Z-Score?

Shake Shack Inc (SHAK) has an Altman Z-Score of 2.65, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Shake Shack Inc's Piotroski F-Score?

Shake Shack Inc (SHAK) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Shake Shack Inc's earnings high quality?

Shake Shack Inc (SHAK) has an earnings quality ratio of 4.86x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Shake Shack Inc cover its interest payments?

Shake Shack Inc (SHAK) has an interest coverage ratio of 29.0x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Shake Shack Inc?

Shake Shack Inc (SHAK) scores 47 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.