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Shake Shack Inc. cash flow statement

In fiscal 2025, Shake Shack Inc.'s operations generated $222m of cash; it spent $166m on capital projects, leaving free cash flow of $56.5m.

Cash flow statement

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

Fiscal year2013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJul 2026
Cash from operations13144154718590375877132171222192
Depreciation and amortisation46101522294049597391102107113
Stock-based pay00175668691315162019
Capital spending16293254628810769101143146135166203
Free cash flow−3−159−09−2−17−32−43−66−143657−12
Free cash flow after stock pay−3−15−8−64−8−24−37−52−79−292037−31
Shares issued000000014500————

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Shake Shack Inc.'s SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Shake Shack Inc.