Shake Shack Inc.

Listed Company

SHAKCIK 0001620533NYSELarge AcceleratedRetail-Eating & Drinking PlacesFY ends Dec 31

Period

FY 2025

Revenue

$1.45B

Net Income

$49.71M

Total Assets

$1.90B

Equity

$525.33M

Shares Out

Op. Cash Flow

$222.35M

SHAK$57.98−57.03% · past yearDBEQ Basic

Daily closing prices

Business

Shake Shack Inc. operates a fast-casual restaurant chain serving premium burgers, chicken, milkshakes, lemonades, beer, wine and other beverages. The company operates Company-owned Shacks and licenses its brand to third-party operators globally. Shake Shack has 373 Company-operated and 286 licensed Shacks across the United States, United Kingdom, Asia, Middle East, Mexico and other markets. The business model emphasizes fine-dining-rooted culinary innovation, digital ordering and loyalty programs, community engagement, and premium sourcing practices.

Summary from 10-K filed 2026-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
TOTAL REVENUE	1,445	1,253	1,088	900	740
Food and paper costs	397	340	305	262	218
Labor and related expenses	361	339	304	257	215
Other operating expenses	213	178	149	130	102
Occupancy and related expenses	107	93	80	69	59
General and administrative expenses	176	149	130	120	87
Depreciation and amortization expense	107	102	91	73	59
Pre-opening costs	18	16	19	15	13
Impairments, loss on disposal of assets, and Shack closures	5	32	3	2	2
TOTAL EXPENSES	1,383	1,250	1,082	927	756
INCOME FROM OPERATIONS	63	3	6	−27	−16
Other income, net	12	13	13	4	95,000
Interest expense	−2	−2	−2	−2	−2
INCOME BEFORE INCOME TAXES	73	14	17	−24	−17
Income tax expense (benefit)	23	3	−4	−1	−11
NET INCOME	50	11	21	−23	−6
Less: Net income attributable to non-controlling interests	4	613,000	726,000	−2	−1
Net income attributable to Shake Shack Inc.basic	46	10	20	—	—
Basic (in dollars per share)	1.14	0.26	0.51	−0.54	−0.12
Diluted (in dollars per share)	1.09	0.24	0.48	−0.54	−0.12
Basic (in shares)	40	40	39	39	39
Diluted (in shares)	42	44	44	39	39

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2023 2023-09-30	FY 2023 2023-06-30
Cash and cash equivalents	360	321	225	190	204
Accounts receivable, net	33	20	17	14	14
Inventories	7	6	5	5	5
Prepaid expenses and other current assets	30	22	19	20	15
Total current assets	430	368	334	323	330
Property and equipment, net of accumulated depreciation of $551,004 and $457,186, respectively.	626	552	531	526	500
Operating lease assets	507	425	398	398	385
Deferred income taxes, net	322	342	326	319	319
Other assets	10	11	16	16	16
TOTAL ASSETS	1,896	1,697	1,606	1,582	1,550
Accounts payable	25	24	22	21	17
Accrued expenses	103	63	55	48	51
Accrued wages and related liabilities	25	25	21	18	18
Operating lease liabilities, current	64	56	49	48	46
Other current liabilities	28	20	17	18	18
Total current liabilities	245	187	164	152	150
Long-term debt	248	247	246	245	245
Long-term operating lease liabilities	575	494	465	463	449
Liabilities under tax receivable agreement, net of current portion	244	247	236	236	235
Other long-term liabilities	30	28	27	26	22
Total liabilities	1,342	1,203	1,136	1,123	1,101
Commitments and contingencies (Note 17)	—	—	—	—	—
Preferred stock, no par value10,000,000 shares authorized; none issued and outstanding as of September 27, 2023 and December 28, 2022.	0	0	0	0	0
Additional paid-in capital	453	443	427	424	421
Retained earnings	73	27	17	10	2
Accumulated other comprehensive loss	−1,000	−1,000	−3,000	−3,000	−4,000
Total stockholders' equity attributable to Shake Shack Inc.	525	470	443	433	423
Non-controlling interests	28	24	26	26	25
Total equity	554	494	469	459	448
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	1,896	1,697	1,606	1,582	1,550

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization expense	107	102	91	73	59
Amortization of debt issuance costs	1	1	1	1	867,000
Amortization of cloud computing assets	2	2	2	2	1
Non-cash operating lease cost	89	77	68	59	51
Equity-based compensation	20	16	15	13	9
Deferred income taxes	17	−1	−9	−5	−14
Non-cash interest	45,000	−102,000	116,000	218,000	353,000
Gain on sale of equity securities	0	0	−81,000	0	5,000
Net amortization of discount on held-to-maturity securities	0	440,000	2	0	0
Accounts receivable	−10	−3	−3	9	−4
Inventories	−1	−610,000	−1	−334,000	−962,000
Prepaid expenses and other current assets	−3	−3	−2	−2	5
Other assets	−6	−3	−6	−8	−3
Accounts payable	−2	3	687,000	4	−6
Accrued expenses	30	7	10	4	7
Accrued wages and related liabilities	59,000	4	3	3	4
Other current liabilities	3	−712,000	−3	9	−1
Operating lease liabilities	−83	−77	−58	−61	−43
Other long-term liabilities	3	3	2	−756,000	−1
NET CASH PROVIDED BY OPERATING ACTIVITIES	222	171	132	77	58
Purchases of property and equipment	−166	−135	−146	−143	−101
Purchases of held-to-maturity securities	0	0	−94	0	0
Maturities of held-to-maturity marketable securities	0	69	27	0	0
Purchases of equity securities	0	0	−690,000	−865,000	−47
Sales of equity securities	0	0	81	0	4
NET CASH USED IN INVESTING ACTIVITIES	−166	−66	−132	−143	−145
Payments on principal of finance leases	−6	−4	−3	−3	−3
Deferred financing costs	−10,000	0	0	0	−169,000
Distributions paid to non-controlling interest holders	−2	−482,000	−162,000	−410,000	−968,000
Payments under tax receivable agreement	−37,000	0	0	0	0
Net proceeds from stock option exercises	123,000	2	744,000	424,000	7
Employee withholding taxes related to net settled equity awards	−10	−6	−3	−2	−4
NET CASH USED IN FINANCING ACTIVITIES	−17	−9	−6	−5	242
Effect of exchange rate changes on cash and cash equivalents	0	2,000	−3,000	−1,000	−2,000
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	39	96	−6	−72	156

Filings

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Frequently asked questions

What is Shake Shack Inc.'s CIK number?

Shake Shack Inc.'s SEC CIK number is 0001620533 (1620533). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find Shake Shack Inc.'s SEC filings?

All of Shake Shack Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did Shake Shack Inc. last report earnings?

Shake Shack Inc. (SHAK) most recently filed an earnings 8-K with the SEC on May 7, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001620533-26-000024). This is Shake Shack Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is Shake Shack Inc.'s most recent earnings 8-K?

Shake Shack Inc.'s latest earnings 8-K (Item 2.02) was filed May 7, 2026 under accession 0001620533-26-000024. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View Shake Shack Inc.'s latest earnings 8-K →
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