Shake Shack Inc. income statement
In fiscal 2025, Shake Shack Inc. reported revenue of $1.45bn, up 15.4% on the year before, operating income of $62.5m (a 4.3% margin) and net income of $45.7m, or $1.09 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJul 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 82 | 119 | 191 | 268 | 359 | 459 | 595 | 523 | 740 | 900 | 1,088 | 1,253 | 1,445 | 1,552 |
| General and administrative | 12 | 18 | 38 | 31 | 39 | 53 | 66 | 64 | 87 | 120 | 130 | 149 | 176 | 197 |
| Operating income | 6 | 3 | 7 | 28 | 34 | 32 | 26 | −44 | −16 | −27 | 6 | 3 | 63 | 55 |
| Interest expense | — | 0 | 0 | 0 | 2 | 2 | 0 | 1 | 2 | 2 | 2 | 2 | 2 | 2 |
| Net interest income | −0 | −0 | −0 | — | — | — | — | — | — | — | — | — | — | — |
| Income before tax | 6 | 3 | 6 | 28 | 160 | 31 | 28 | −45 | −17 | −24 | 17 | 14 | 73 | 65 |
| Income tax | 0 | 1 | 3 | 6 | 151 | 9 | 3 | 0 | −11 | −1 | −4 | 3 | 23 | 22 |
| 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 |
| Diluted shares (average) | 30m | 30m | 14m | 23m | 26m | 29m | 32m | 37m | 39m | 39m | 44m | 44m | 42m | 41m |
| EBITDA | 9 | 9 | 17 | 42 | 56 | 61 | 66 | 5 | 43 | 46 | 97 | 106 | 169 | 169 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Apr 2026 | 2026 Q2Jul 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 317 | 329 | 321 | 356 | 367 | 401 | 367 | 418 |
| General and administrative | 36 | 41 | 41 | 41 | 44 | 51 | 54 | 48 |
| Operating income | −18 | 10 | 3 | 22 | 19 | 19 | −3 | 21 |
| Interest expense | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Income before tax | −15 | 13 | 5 | 25 | 21 | 22 | −0 | 23 |
| Income tax | −4 | 4 | 1 | 6 | 7 | 9 | −0 | 6 |
| Net income | −10 | 9 | 4 | 17 | 13 | 12 | −0 | 16 |
| Diluted EPS | −$0.26 | $0.21 | $0.10 | $0.41 | $0.30 | $0.28 | −$0.01 | $0.37 |
| EBITDA | 8 | 36 | 29 | 49 | 46 | 45 | 26 | 51 |
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