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Shake Shack Inc. (SHAK) stock

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NYSE: SHAK NYSE Restaurants Next results ~November 5, 2026

C+ Fundamentals grade

Shake Shack Inc. is a US-listed company in the restaurants industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: our cash-flow value ($2.30) was left out of our combined valuation (it is 0.03x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating.

Price vs value

Under review: our cash-flow value ($2.30) was left out of our combined valuation (it is 0.03x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating. We'll show the comparison once resolved.

Shake Shack Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Shake Shack files

Where Shake Shack stands after its latest 10-Q

Revenue for the twelve months to July 2026 was $1.55bn, up 17.3% on a year earlier, faster than the 16.2% growth a quarter earlier. That growth ranks 4 of 25 among the restaurants companies we cover. Free-cash-flow margin fell to -0.8% from 3.5% a year earlier. Operating margin widened to 3.6% from 1.3%. The diluted share count is down 6.7% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 5 of our 7 financial-health checks.

Our model value for Shake Shack is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 5, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Shake Shack Inc.'s trailing-twelve-month revenue grew 17.3% year on year, with a free-cash-flow margin of -0.8%. Where it stands out: change in share count of -6.7% ranks 2 of 42 restaurants companies we cover.

Our discounted-cash-flow model values the business at ~$2.3 per share in the base case (~$1.9–$2.8 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 42% in the quarter to 2026-06-30, the 3rd beat in the last four quarters.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 17.3% over the last 12 months, against a median of 4.7% for restaurants companies we cover.
  • Shrinking share count. Diluted shares fell 6.7% in a year, so each share owns more of the business.

Things to watch

  • Burning cash. Free cash flow was -0.8% of revenue over the last 12 months.
  • High earnings multiple. The shares trade at 76 times the last 12 months' earnings, so expectations are demanding.
  • Volatile shares. Over the past year the shares showed annualised volatility of 55% and a beta of 1.2 against the S&P 500.
  • Weak cash conversion. Free cash flow was -29% of net income over the last 12 months.
  • Heavily shorted. 10.9% of the shares available to trade are sold short (2.5 days of average volume to cover).

Latest results: FY2026 Q2

Filed August 5, 2026
Earnings per share
$0.43 against an average estimate of $0.30: beat by 41.7%
Revenue
$418m, up 17.2% on a year earlier
Share reaction
+6.1% in the first session after the results on August 5, 2026, against -0.4% for the S&P 500
Next report
November 5, 2026; average EPS estimate $0.34

Shake Shack's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-3.4%
  • 1 week+8.5%
  • 1 month+14.8%
  • This year-10.7%
  • 1 year-25.1%
  • 5 years-10.3%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.6B
Operating margin
3.6%
Net margin
2.6%
EPS (TTM, diluted)
$0.96

Growth

Revenue growth
+17.3%
Change in growth rate
+1.1 pts
Share count change
−6.7%

Cash

Free cash flow (TTM)
-$11.7M
FCF margin
-0.8%
Stock pay % of revenue
1.2%

Earnings

Last results
August 5, 2026

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Our research
  2. Results

    Shake Shack sets 5 November for Q3 2026 earnings call

    Shake Shack Inc. said it will release third quarter 2026 financial results on 5 November 2026, before the market opens. The company will host a conference call at 8:00 a.m. ET, with Chief Executive Officer Rob Lynch and Chief Financial Officer Michelle Hook. A replay of the call will be available until 12 November 2026.

    Company releaseRead source ↗
  3. Announcement
  4. Results
  5. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Shake Shack Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: our cash-flow value ($2.30) was left out of our combined valuation (it is 0.03x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating.

Our value per share comes from a discounted-cash-flow model of Shake Shack Inc.'s free cash flow after stock-based pay ( $1.7M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Shake Shack Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.9%: the 10-year Treasury yield (4.9%) plus a beta of 1.11 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$2.3 ~$1.9–$2.8 Left out: out of range vs price (0.03x)
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$23 ~$21–$41 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$3.9 ~$2.4–$6.2 Left out: out of range vs price (0.05x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Shake Shack Inc. with Restaurants in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$39.96$36.83$44.34$43.21$59.95$84.86$70.11$42.55$75.94$132.03$81.17$72.46
Market value$543m$864m$1.1bn$1.3bn$1.9bn$3.2bn$2.7bn$1.7bn$3.3bn$5.8bn$3.4bn$3.0bn
+ Net debt (− = net cash)−$71m−$12m−$22m−$25m−$37m−$147m−$59m$14m$21m−$74m−$112m−$60m
Enterprise value$472m$852m$1.1bn$1.2bn$1.9bn$3.0bn$2.7bn$1.7bn$3.4bn$5.8bn$3.3bn$2.9bn
Multiples
Price / sales 2.8x3.2x3.2x2.7x3.3x6.0x3.7x1.9x3.1x4.7x2.4x1.9x
Price / earnings —69.4x—83.1x97.5x———164.5xn/m74.3x75.6x
Price / free cash flow 59.4x—122.8x——————163.7x60.1x—
EV / EBITDA 27.8x20.1x20.3x20.4x28.7xn/m62.2x36.7x34.5x54.6x19.4x17.5x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

25 /100

Weak moat

How hard Shake Shack's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median 0.9% of total assets over 10 years.

  • Durability 0 / 20

    Operating margin has been a median 1.3%; its worst year was -4.1%.

  • Cash conversion 4 / 20

    Free cash flow was positive in 4 of 10 years, at a median -1.9% of revenue.

  • Discipline 16 / 20

    The diluted share count rose 1.5% over five years; stock-based pay has been a median 1.4% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, before the open. Analysts expect revenue of $427m and EPS of $0.34 (range $0.30 to $0.40) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.13 −15% $1.7bn +14%
Next $1.42 +26% $1.9bn +15%

Next year's EPS estimate has moved −4.6% in 90 days, across 26 analysts.

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.30 $0.43 +41.7%
Mar 2026 $0.12 $0.00 −100.0%
Dec 2025 $0.35 $0.37 +6.1%
Sept 2025 $0.31 $0.36 +17.2%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows Shake Shack Inc.'s revenue by +15.0% next year and +15.9% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+14.3%, weight 70%) and the company's own record (+16.7%, weight 30%) . How the weights are set.

Analyst recommendations

28 analysts, Oct 2026
Buy1554%
Hold1243%
Sell14%

Monthly trend

  1. Oct 20263121228
  2. Sep 20263121228
  3. Aug 20262121226
  4. Jul 20262121226

Counts of recommendations published by analysts covering Shake Shack Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
10.9%
of tradable shares
Days to cover
2.47
at average volume
Short interest, 1 month
−1%
to September 30, 2026
Held by institutions
92%
of shares
Held by insiders
4.4%
of shares
Employees
13,873
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months −24.9%

$96.51 on October 31, 2025 to $72.46

ThenNowEffect
Revenue (last 12 months) $1.3bn $1.6bn +17.3%
Net margin 1.5% 2.6% +70.2%
P/E multiple n/m 75.6x −64.9%
Share count 44m 41m +7.2%

Biggest factor: p/e multiple.

Last 3 years +21.8%

$59.51 on November 3, 2023 to $72.46

ThenNowEffect
Revenue (last 12 months) $991m $1.6bn +56.6%
P/S multiple 2.4x 1.9x −20.3%
Share count 40m 41m −2.5%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
SHAK−15%−42%+79%+75%−38%−11%
Industry peers (median)+16%−15%+15%−1%−8%+6%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
SHAK33%25%42%58%25%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
SHAK−47%−52%−33%−28%−46%−50%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 71% from February 11, 2021 to June 16, 2022. Getting back needed a 244% gain, reached on November 6, 2024, 874 days after the low.

Price behaviour

52-week range
$52.34 – $104.69
From 52-week high
−30.8%
vs 50-day average
+11.1%
vs 200-day average
−3.3%
Volatility (1 year)
55%
Beta vs S&P 500
1.18

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
8 up, 4 down
typical move ±9.2%
After a week
8 up, 4 down
typical move ±11.7%
After a month
5 up, 7 down
typical move ±18.1%
Results releasedNext dayS&P 500 next day5 days21 days
August 5, 2026 +6.1% −0.4% +10.0% +4.7%
May 7, 2026 −27.3% +0.5% −35.9% −45.1%
February 26, 2026 +4.2% −1.0% +5.1% −11.7%
January 12, 2026 +5.5% 0.0% +4.1% +4.0%
October 30, 2025 +7.5% −0.8% +2.3% −4.1%
July 31, 2025 −20.6% −2.0% −20.4% −24.8%
May 1, 2025 +7.6% +2.2% +17.8% +46.3%
February 20, 2025 −2.3% −2.1% −4.0% −18.5%
January 13, 2025 −7.6% +0.3% −6.7% −16.9%
October 30, 2024 +7.1% −2.3% +17.2% +17.7%
August 1, 2024 +10.1% −3.3% +15.6% +13.5%
May 2, 2024 +4.0% +2.2% +1.7% −10.4%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Shake Shack Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Shake Shack Inc.
$1B $1.2B $1.4B $1.6B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $1B Revenue (TTM), FY23 Q4: $1.1B Revenue (TTM), FY24 Q1: $1.1B Revenue (TTM), FY24 Q2: $1.2B Revenue (TTM), FY24 Q3: $1.2B Revenue (TTM), FY24 Q4: $1.3B Revenue (TTM), FY25 Q1: $1.3B Revenue (TTM), FY25 Q2: $1.3B Revenue (TTM), FY25 Q3: $1.4B Revenue (TTM), FY25 Q4: $1.4B Revenue (TTM), FY26 Q1: $1.5B Revenue (TTM), FY26 Q2: $1.6B $1.6B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $1B
FY23 Q4 $1.1B
FY24 Q1 $1.1B
FY24 Q2 $1.2B
FY24 Q3 $1.2B
FY24 Q4 $1.3B
FY25 Q1 $1.3B
FY25 Q2 $1.3B
FY25 Q3 $1.4B
FY25 Q4 $1.4B
FY26 Q1 $1.5B
FY26 Q2 $1.6B
Revenue growth, TTM YoY Shake Shack Inc.
12% 14% 16% 18% 20% 22% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 20.2% Revenue growth, TTM YoY, FY23 Q4: 20.8% Revenue growth, TTM YoY, FY24 Q1: 18.3% Revenue growth, TTM YoY, FY24 Q2: 18.0% Revenue growth, TTM YoY, FY24 Q3: 16.4% Revenue growth, TTM YoY, FY24 Q4: 15.2% Revenue growth, TTM YoY, FY25 Q1: 14.1% Revenue growth, TTM YoY, FY25 Q2: 13.1% Revenue growth, TTM YoY, FY25 Q3: 13.5% Revenue growth, TTM YoY, FY25 Q4: 15.4% Revenue growth, TTM YoY, FY26 Q1: 16.2% Revenue growth, TTM YoY, FY26 Q2: 17.3% 17.3%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 20.2%
FY23 Q4 20.8%
FY24 Q1 18.3%
FY24 Q2 18.0%
FY24 Q3 16.4%
FY24 Q4 15.2%
FY25 Q1 14.1%
FY25 Q2 13.1%
FY25 Q3 13.5%
FY25 Q4 15.4%
FY26 Q1 16.2%
FY26 Q2 17.3%
Operating margin (TTM) Shake Shack Inc.
-2% 0% 2% 4% 6% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 0.1% Operating margin (TTM), FY23 Q4: 0.5% Operating margin (TTM), FY24 Q1: 0.8% Operating margin (TTM), FY24 Q2: 1.3% Operating margin (TTM), FY24 Q3: -0.7% Operating margin (TTM), FY24 Q4: 0.2% Operating margin (TTM), FY25 Q1: 0.5% Operating margin (TTM), FY25 Q2: 1.3% Operating margin (TTM), FY25 Q3: 3.9% Operating margin (TTM), FY25 Q4: 4.3% Operating margin (TTM), FY26 Q1: 3.8% Operating margin (TTM), FY26 Q2: 3.6% 3.6%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 0.1%
FY23 Q4 0.5%
FY24 Q1 0.8%
FY24 Q2 1.3%
FY24 Q3 -0.7%
FY24 Q4 0.2%
FY25 Q1 0.5%
FY25 Q2 1.3%
FY25 Q3 3.9%
FY25 Q4 4.3%
FY26 Q1 3.8%
FY26 Q2 3.6%
FCF margin (TTM) Shake Shack Inc.
-5% 0% 5% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -4.6% FCF margin (TTM), FY23 Q4: -1.3% FCF margin (TTM), FY24 Q1: -0.2% FCF margin (TTM), FY24 Q2: 1.4% FCF margin (TTM), FY24 Q3: 2.8% FCF margin (TTM), FY24 Q4: 2.8% FCF margin (TTM), FY25 Q1: 3.1% FCF margin (TTM), FY25 Q2: 3.5% FCF margin (TTM), FY25 Q3: 4.6% FCF margin (TTM), FY25 Q4: 3.9% FCF margin (TTM), FY26 Q1: 1.1% FCF margin (TTM), FY26 Q2: -0.8% -0.8%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -4.6%
FY23 Q4 -1.3%
FY24 Q1 -0.2%
FY24 Q2 1.4%
FY24 Q3 2.8%
FY24 Q4 2.8%
FY25 Q1 3.1%
FY25 Q2 3.5%
FY25 Q3 4.6%
FY25 Q4 3.9%
FY26 Q1 1.1%
FY26 Q2 -0.8%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Shake Shack took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $1.4B
  2. Selling, general and admin $176M · 12.2%
  3. Other operating costs $1.2B · 83.5%
  4. Operating income $62.5M · 4.3%
  5. Income tax $22.9M · 1.6%
  6. Net income $45.7M · 3.2%

Shares of revenue. Source: Shake Shack's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jul 2026
Income
Revenue 82 119 191 268 359 459 595 523 740 900 1,088 1,253 1,445 1,552
EBITDA 9 9 17 42 56 61 66 5 43 46 97 106 169 169
Operating income 6 3 7 28 34 32 26 −44 −16 −27 6 3 63 55
Net income 5 2 −9 12 −0 15 20 −42 −5 −21 20 10 46 40
Diluted EPS $0.18 $0.07 −$0.65 $0.53 −$0.01 $0.52 $0.61 −$1.14 −$0.12 −$0.54 $0.48 $0.24 $1.09 $0.96
Growth (year on year)
Revenue — +43.7% +60.8% +40.9% +33.6% +28.0% +29.4% −12.1% +41.5% +21.7% +20.8% +15.2% +15.4% +17.3%
EBITDA — −5.5% +89.6% +149.2% +31.2% +9.4% +8.8% −92.5% — +6.4% +111.7% +8.6% +60.3% +38.3%
Operating income — −47.0% +114.9% +311.7% +21.6% −6.2% −19.0% −270.8% — — — — — —
Net income — −60.9% — — −102.6% — +30.6% −312.6% — — — — — —
Diluted EPS — −61.1% — — −101.9% — +17.3% −286.9% — — — — — —
Margins
EBITDA margin 11.5% 7.6% 8.9% 15.8% 15.5% 13.2% 11.1% 0.9% 5.8% 5.1% 8.9% 8.4% 11.7% 10.9%
Operating margin 7.2% 2.7% 3.5% 10.4% 9.4% 6.9% 4.3% −8.4% −2.1% −3.0% 0.5% 0.2% 4.3% 3.6%
Net margin 6.6% 1.8% −4.6% 4.6% −0.1% 3.3% 3.3% −8.1% −0.6% −2.4% 1.9% 0.8% 3.2% 2.6%
Free-cash-flow margin −4.0% −12.6% 4.8% −0.1% 2.6% −0.5% −2.8% −6.1% −5.8% −7.3% −1.3% 2.8% 3.9% −0.8%
Cash flow
Cash from operations 13 14 41 54 71 85 90 37 58 77 132 171 222 192
Capital spending 16 29 32 54 62 88 107 69 101 143 146 135 166 203
Free cash flow −3 −15 9 −0 9 −2 −17 −32 −43 −66 −14 36 57 −12
Stock-based pay 0 0 17 5 6 6 8 6 9 13 15 16 20 19
Free cash flow after stock pay −3 −15 −8 −6 4 −8 −24 −37 −52 −79 −29 20 37 −31
Balance sheet
Cash 3 3 71 12 22 25 37 147 302 231 225 321 360 308
Total debt 0 32 0 0 0 0 0 0 244 245 246 247 248 248
Net debt (negative = net cash) −3 30 −71 −12 −22 −25 −37 −147 −59 14 21 −74 −112 −60
Diluted shares 30m 30m 14m 23m 26m 29m 32m 37m 39m 39m 44m 44m 42m 41m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

5 of 7 checks passed · July 1, 2026
What it owns · $2.0bn
Short-term assets $394mLonger-term assets $1.6bn
What it owes, and who funded it · $1.9bn
Short-term liabilities $236mLonger-term liabilities $1.1bnShareholders' equity $544m
  • Short-term assets cover short-term liabilities $394m of assets due within a year against $236m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $394m short-term assets against $1.1bn of longer-dated liabilities.
  • More cash than debt $308m of cash against $248m of debt.
  • Debt below 40% of shareholders' equity Debt is 46% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 59% to 46% over five years.
  • A year's operating cash flow covers at least 20% of debt $192m of operating cash flow against $248m of debt.
  • Operating profit covers interest at least five times over Operating income of $55m against $2m of interest.

From Shake Shack Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
−6.7%
year over year
Days sales outstanding
8 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in restaurants
Last 12 months unless stated SHAK BJRI JACK CAVA CHA FWRG Median
Revenue, last 12 months $1.6bn $1.4bn $1.4bn $1.4bn $1.8bn $1.3bn $1.4bn
Revenue growth, last 12 months 17.3% 3.5% 14.3% 26.8% 4.2% 19.3% 4.6%
Revenue growth, 3-year average 16.1% 2.1% −6.1% 28.7% — 18.1% 5.1%
Revenue growth, latest quarter 17.2% 6.4% −1.8% 31.3% — 15.2% 4.5%
Gross margin — 74.5% 73.7% 25.2% — — 68.6%
Operating margin 3.6% 2.7% −3.5% 5.2% 10.4% 2.1% 4.9%
Operating margin, 3-year average 2.1% 2.2% 6.4% 4.4% — 2.8% 6.9%
Net margin 2.6% 2.9% 2.4% 4.8% 9.1% 1.4% 2.5%
Cash from operations / revenue 12.3% 8.2% 6.3% 16.0% 12.7% 9.7% 11.9%
Free-cash-flow margin −0.8% 3.2% 1.3% 3.6% 9.5% −1.7% 3.4%
Free-cash-flow margin, 3-year average 1.4% 2.8% 2.4% 3.1% — −2.0% 2.8%
Stock pay / revenue 1.2% 0.7% 0.6% 1.4% 5.6% 1.0% 0.8%
Change in share count −6.7% −5.8% 0.7% −0.1% 63.7% 1.5% 0.2%

Median of all 44 companies we cover in restaurants. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

44 restaurants companies
Measure Company Peer median Rank
Revenue growth Growth 17.3% 4.7% 5 of 44
Change in growth rate Growth +1.1pp +0.3pp 13 of 44
Operating margin Profitability 3.6% 5.2% 25 of 42
Net margin Profitability 2.6% 2.6% 22 of 44
Free-cash-flow margin Cash generation -0.8% 3.6% 34 of 44
Stock pay as % of revenue Cash generation 1.2% 0.8% 30 of 40
Long-term debt as % of assets Balance sheet 12.7% 29.0% 11 of 36
Change in share count Balance sheet -6.7% 0.3% 2 of 42
Days sales outstanding Balance sheet 8 days 6 days 16 of 25

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Shack Sales $1.4B 96.3% ▲ 15.2%
Franchise $54.1M 3.7% ▲ 20.2%
Sales Based Royalties $51.5M 95.2% ▲ 18.5%
Initial Territory and Opening Fees $2.6M 4.8% ▲ 67.2%
Geography
Region Revenue Share YoY
United States $1.4B 97.4% ▲ 15.4%
Outside the US $38.2M 2.6% ▲ 14.9%

From Shake Shack Inc.'s 10-K filed February 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$2.1B
Institutions reporting
338
Shares held vs prior quarter
▼ 14.9%
Positions opened / closed
63 / 95

Top buyers and sellers, Q2 2026: 198 institutions bought and 187 sold ; the biggest buyer was BAMCO Inc (+1.0M shares) and the biggest seller Wellington Management Group LLP (−1.7M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $346M 6.2M 16.7% ▲ 7.4%
Vanguard Portfolio Management LLC $135M 2.4M 6.5% ▲ 4.4%
Vanguard Capital Management LLC $98.1M 1.8M 4.7% ▲ 1.0%
State Street Corp $88M 1.6M 4.3% ▲ 5.7%
Marshall Wace, LLP $77.7M 1.4M 3.8% ▲ 55.3%
UBS Group AG $75.5M 1.3M 3.7% ▲ 50.6%
Morgan Stanley $60.4M 1.1M 2.9% ▲ 132.0%
Van Berkom & Associates Inc. $59.3M 1.1M 2.9% ▼ 37.7%
BAMCO Inc $58M 1.0M 2.8% New
Geode Capital Management, LLC $56.3M 1.0M 2.7% ▲ 6.1%
Nomura Holdings Inc $50.5M 902K 2.4% New
Jpmorgan Chase & Co $50M 911K 2.4% ▲ 24.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Shake Shack Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $3.2M 9 trades by 6 insiders, last 12 months Insider sales History → $178,081 6 trades by 1 insider · 100% under pre-set plans
Net ▲ $3.1M net buying
Insider Date Trade Shares Price Value
Meyer Daniel Harris Director May 15, 2026 Buy 32,258 $61.88 $2M
Lynch Robert Chief Executive Officer May 15, 2026 Buy 5,000 $60.39 $301,950
Balbale Sumaiya Director May 15, 2026 Buy 4,068 $61.42 $249,857
Chapman Charles J Iii Director May 15, 2026 Buy 780 $61.43 $47,915
Chapman Charles J Iii Director May 15, 2026 Buy 1,000 $61.32 $61,320
Chapman Charles J Iii Director May 15, 2026 Buy 220 $61.32 $13,490
Flug Jeffrey Director May 15, 2026 Buy 1,000 $61.30 $61,300
Silverman Josh Director May 15, 2026 Buy 8,190 $60.37 $494,430
Silverman Josh Director May 15, 2026 Buy 100 $61.21 $6,121
Sentell Stephanie Ann Chief Operations Officer April 15, 2026 Sell pre-set plan 258 $102.21 $26,370
Sentell Stephanie Ann Chief Operations Officer March 6, 2026 Sell pre-set plan 225 $93.60 $21,060
Sentell Stephanie Ann Chief Operations Officer January 20, 2026 Sell pre-set plan 200 $99.19 $19,838

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 5 trades and filings

In the last 12 months, 1 member of Congress disclosed 2 purchases and 0 sales of Shake Shack Inc. shares.

  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $1,001 - $15,000, traded August 11, 2026, filed September 10, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $1,001 - $15,000, traded January 5, 2026, filed February 13, 2026
  • Ashley Hinson(R-IA 1):Sale (full), $1,001 - $15,000, traded March 31, 2021, filed April 5, 2021

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around October 16, 2026 estimated from the company's past filing pattern, not announced

  • August 5, 2026
  • May 7, 2026
  • February 26, 2026
  • January 12, 2026
  • October 30, 2025
  • July 31, 2025

Recent SEC filings

Data status

When each part of this page on Shake Shack Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Shake Shack Inc. in brief

What does Shake Shack Inc. do?
Shake Shack Inc. is a US-listed company in the restaurants industry. Its financial year ends in December.
What is Shake Shack Inc.'s stock ticker?
Shake Shack Inc. trades under the ticker SHAK on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Shake Shack Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Shake Shack Inc. reported revenue of $1.6B, 17.3% higher than a year earlier, according to its SEC filings.
What is Shake Shack Inc.'s free cash flow?
Shake Shack Inc.'s free-cash-flow margin is -0.8% of revenue over the trailing twelve months, ranking 34 of the 44 restaurants companies we cover.
Who are Shake Shack Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Shake Shack Inc.'s market cap?
On November 2, 2026, Shake Shack Inc.'s market capitalisation was about $3B, with a price-to-earnings ratio of 75.6 and net debt of -$59.7M. Market figures come from third-party market data and may be delayed.
How much debt does Shake Shack Inc. have?
Shake Shack Inc.'s debt-to-equity ratio is 45.6%, from its latest balance sheet (59.5% five years earlier). The financial health section below sets out its other solvency checks.
Who are Shake Shack Inc.'s competitors?
In our Restaurants peer group, the companies closest to Shake Shack Inc. are Bjs Restaurants Inc, Jack IN The BOX Inc, CAVA Group, Inc., Chagee Holdings Ltd. and First Watch Restaurant Group, Inc. The side-by-side comparison below sets their revenue, margins and growth against Shake Shack Inc.'s.
Are insiders buying or selling Shake Shack Inc. stock?
Over the last 12 months, Shake Shack Inc.'s directors and officers reported 9 open-market purchases and 6 sales on Form 4. The insider trading page charts every trade.
When is Shake Shack Inc.'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Shake Shack Inc. announces its own schedule.