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Shake Shack Inc. key statistics and ratios

In fiscal 2025, Shake Shack Inc. had return on equity of 9.2% and a net margin of 3.2%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands 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
Net margin6.6%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%
Return on equity14.5%8.5%−15.5%9.8%−0.2%7.7%7.6%−11.9%−1.1%−5.2%4.7%2.2%9.2%7.4%
Return on assets—2.6%−3.8%2.7%−0.1%2.8%2.5%−4.0%−0.3%−1.4%1.3%0.6%2.5%2.1%
Effective tax rate7.8%23.8%51.4%22.3%94.5%28.8%12.3%———−23.6%24.0%31.5%33.4%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

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.

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.

Compare with peers

Head to head: BJRI vs SHAKJACK vs SHAKCAVA vs SHAKCHA vs SHAK

More: Restaurants stocks compared, Consumer Discretionary sector, rankings of US companies

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.