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Shake Shack Inc. owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. It offers burger, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is based in New York, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.4B | $184M | $46M | $57M | 8.7% | 15.4% | 348.0% |
| 2024 | $1.3B | $121M | $10M | $36M | 2.2% | 15.2% | -49.6% |
| 2023 | $1.1B | $112M | $20M | $-14M | 4.6% | 20.8% | -195.5% |
| 2022 | $900M | $52M | $-21M | $-66M | -5.2% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 900.49 | 1,087.53 | 1,252.61 | 1,445.31 |
| Cost Of Revenue | 518.94 | 609.29 | 678.69 | 757.41 |
| Gross Profit | 381.54 | 478.24 | 573.92 | 687.90 |
| Operating Expense | 390.96 | 450.08 | 522.96 | 602.14 |
| Operating Income | -9.42 | 28.16 | 50.95 | 85.76 |
| EBITDA | 51.53 | 111.74 | 120.90 | 183.56 |
| EBIT | -22.77 | 18.70 | 16.29 | 74.77 |
| Pretax Income | -24.28 | 16.98 | 14.24 | 72.61 |
| Tax Provision | -1.18 | -4.01 | 3.42 | 22.90 |
| Net Income | -21.23 | 20.26 | 10.21 | 45.72 |
| Net Income Common Stockholders | -21.23 | 20.26 | 10.21 | 45.72 |
| Total Expenses | 909.90 | 1,059.37 | 1,201.66 | 1,359.55 |
| Interest Expense | 1.52 | 1.72 | 2.04 | 2.16 |
| Selling General And Administration | 188.52 | 209.39 | 242.12 | 282.86 |
| Normalized EBITDA | 69 | 133.98 | 168.81 | 206.80 |
| Normalized Income | -4.61 | 37.83 | 46.62 | 61.65 |
| Market Cap | 4,398.18 | 4,398.18 | 4,398.18 | 4,398.18 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Shake Shack Inc.this co. | SHAK | $4.1B | 96.19↑ premium | 8.37 | 8.7% | 26.91 |
| Reynolds Consumer Products Inc. | REYN | $4.4B | 14.74 | 1.97 | 13.4% | 9.48 |
| Cavco Industries, Inc. | CVCO | $4.4B | 24.49 | 3.93 | 16.1% | 16.73 |
| Victoria's Secret & Co. | VSCO | $4.2B | 26.38 | 4.96 | 18.8% | 12.74 |
| Group 1 Automotive, Inc. | GPI | $4.2B |
| 12.46 |
| 1.45 |
| 11.7% |
| 11.56 |
| Tri Pointe Homes, Inc. | TPH | $4.1B | 16.56 | 1.20 | 7.3% | 12.93 |
| Kontoor Brands, Inc. | KTB | $4.0B | 17.77 | 7.16 | 40.3% | 12.97 |
| Asbury Automotive Group, Inc. | ABG | $4.0B | 7.96 | 1.01 | 12.6% | 9.75 |
| Academy Sports and Outdoors, Inc. | ASO | $3.8B | 9.79 | 1.70 | 17.4% | 8.14 |
| Peer Median | - | 15.65 | 1.83 | 14.7% | 12.15 | |