Shake Shack Inc. (SHAK) Financial Statements
Industry: Eating & Drinking Places (Retail)
In fiscal 2025, Shake Shack reported revenue of $1.45B, up 15.4% from $1.25B the year before. Net income was $45.7M (a 3.2% net margin), or $1.09 per diluted share. Operating margin was 4.3%. Operating activities generated $222.4M of cash, leaving $56.5M of free cash flow. At fiscal year end, Shake Shack held $1.90B in total assets against $1.34B in total liabilities, including $360.1M of cash and equivalents.
Open the full interactive Shake Shack financials → Quarterly statements, key ratios, valuation history and price charts.
Shake Shack Key Stats
| Share Price | $71.06 |
|---|---|
| Market Cap | $2.97B |
| P/E Ratio | 65.2 |
| Revenue YoY Growth | +15.4% |
| 52-Week Range | $52.34 – $104.69 |
| Shares Outstanding | 40.4 million (basic, 2026 Q2) |
Shake Shack Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $522.9M | $739.9M | $900.5M | $1.09B | $1.25B | $1.45B |
| Operating Income | -$43.9M | -$15.9M | -$26.9M | $5.9M | $3.0M | $62.5M |
| Pre-Tax Income | -$45.5M | -$17.3M | -$24.3M | $17.0M | $14.2M | $72.6M |
| Income Tax | $57,000 | -$7.2M | $1.7M | -$4.0M | $3.4M | $22.9M |
| Net Income | -$42.2M | -$8.7M | -$24.1M | $20.3M | $10.2M | $45.7M |
| Diluted EPS | -$1.14 | -$0.22 | -$0.61 | $0.48 | $0.24 | $1.09 |
Shake Shack Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $367.4M | $400.5M | $366.7M | $417.6M |
| Net Income | $12.5M | $11.8M | -$290,000 | $15.7M |
| Diluted EPS | $0.30 | $0.28 | -$0.01 | $0.37 |
Shake Shack Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $146.9M | $302.4M | $230.5M | $224.7M | $320.7M | $360.1M |
| Current Assets | $203.2M | $409.7M | $344.0M | $334.4M | $368.2M | $430.3M |
| Total Assets | $1.15B | $1.46B | $1.49B | $1.61B | $1.70B | $1.90B |
| Current Liabilities | $109.7M | $121.5M | $147.7M | $164.1M | $187.3M | $244.9M |
| Total Long-Term Debt | — | $243.5M | $244.6M | $245.6M | $246.7M | $247.7M |
| Total Liabilities | $710.9M | $1.02B | $1.08B | $1.14B | $1.20B | $1.34B |
| Shareholders' Equity | $407.3M | $409.5M | $395.1M | $443.4M | $470.0M | $525.3M |
Shake Shack Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $37.4M | $58.4M | $76.7M | $132.1M | $171.2M | $222.4M |
| Cash From Investing | -$69.4M | -$144.9M | -$143.4M | -$132.3M | -$66.1M | -$165.8M |
| Cash From Financing | $141.8M | $242.0M | -$5.2M | -$5.7M | -$9.0M | -$17.1M |
| Free Cash Flow | -$31.7M | -$43.1M | -$65.8M | -$14.0M | $35.7M | $56.5M |
Figures from Shake Shack's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Shake Shack financials page for every line item.
Shake Shack Company Profile
| Ticker | SHAK |
|---|---|
| Exchange | NYSE |
| Industry | Eating & Drinking Places (Retail) |
| Headquarters | New York, New York |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001620533 |
Frequently Asked Questions
What was Shake Shack's revenue in fiscal 2025?
Shake Shack (SHAK) reported revenue of $1.45B for fiscal 2025.
What is Shake Shack's annual revenue history?
Shake Shack's annual revenue by fiscal year: 2020: $522.9M; 2021: $739.9M; 2022: $900.5M; 2023: $1.09B; 2024: $1.25B; 2025: $1.45B.
What was Shake Shack's net income in fiscal 2025?
Shake Shack reported net income of $45.7M for fiscal 2025.
What was Shake Shack's earnings per share (EPS) in fiscal 2025?
Shake Shack's diluted EPS was $1.09 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Shake Shack generate in fiscal 2025?
Shake Shack generated $56.5M of free cash flow in fiscal 2025.
What was Shake Shack's revenue last quarter?
In its most recent reported quarter (2026 Q2), Shake Shack reported revenue of $417.6M.
How much debt does Shake Shack have?
Shake Shack reported $247.7M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Shake Shack are outstanding?
Shake Shack reported a weighted average of 40.4 million basic shares outstanding in 2026 Q2.
What is Shake Shack's market cap?
Based on its latest closing price, Shake Shack (SHAK) has a market capitalization of about $2.97B.
When does Shake Shack's fiscal year end?
Shake Shack's fiscal year end, as registered with the SEC, is December 31.
Where is Shake Shack headquartered?
Shake Shack lists its business address in New York, New York in its SEC filings.