SHAKNYSERetail-Eating & Drinking PlacesFiscal year ends December 31
Shake Shack Inc.
Financials through Q2 FY2026, quarter ended Jul 1, 2026Last filing: 10-Q on Aug 5, 2026
$71.87+1.88 (+2.69%)
Close on Oct 19, 2026
- Market cap
- $3.01B
- P/E (TTM)
- 76.5
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2016 to 2025
Operating margin
4.3%+12.7 pts over 5 years
Net margin
3.2%+11.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +15.4% | +17.1% | +22.6% | – | |
| Operating income | +1957.5% | – | – | – | |
| Net income | +348.0% | – | – | – | |
| EPS, diluted | +354.2% | – | – | – | |
| Free cash flow | +58.5% | – | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | -11.9% | 9.2% | |
| Return on assets | – | -4.0% | 2.5% | |
| Current ratio | 2.65 | 1.85 | 1.76 | |
| Interest coverage | 74.3× | -53.8× | 29.0× | |
| Capex to revenue | 20.3% | 13.2% | 11.5% | |
| Diluted shares | 23M | 37M | 42M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Shake Shack generated $660.80M from operations and spent $691.57M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$660.80M
Used
$691.57M
Capital expenditure$691.57M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin3.2%
×Asset turnover0.80×
×Equity multiplier3.61×
=Return on equity, FY20259.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 3.2% | 0.80× | 3.61× | 9.2% |
| FY2024 | 0.8% | 0.76× | 3.62× | 2.2% |
| FY2023 | 1.9% | 0.70× | 3.64× | 4.7% |
| FY2022 | -2.4% | 0.60× | 3.63× | -5.2% |
| FY2021 | -0.6% | 0.57× | 3.20× | -1.1% |
| FY2020 | -8.1% | 0.49× | 2.99× | -11.9% |
| FY2019 | 3.3% | 0.75× | 3.01× | 7.6% |
| FY2018 | 3.3% | 0.85× | 2.73× | 7.7% |
| FY2017 | -0.1% | 0.71× | 3.14× | -0.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 7 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$45.73M
- Cash generatingOperating cash flow above zero$222.36M
- Return on assets improvedROA up on the prior year0.6% → 2.7%
- Earnings backed by cashOperating cash flow above net income$222.36M vs $45.73M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.97 → 1.76
- No dilutionShare count did not rise44M → 42M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.78 → 0.85