Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $359M | $459M | $595M | $523M | $740M | $900M | $1.09B | $1.25B | $1.45B |
| Revenue growth | — | — | 28.0% | 29.4% | -12.1% | 41.5% | 21.7% | 20.8% | 15.2% | 15.4% |
| Operating income | — | $33.8M | $31.7M | $25.7M | -$43.9M | -$15.9M | -$26.9M | $5.92M | $3.04M | $62.5M |
| Operating margin | — | 9.4% | 6.9% | 4.3% | -8.4% | -2.1% | -3.0% | 0.5% | 0.2% | 4.3% |
| Net income | — | -$320K | $15.2M | $19.8M | -$42.2M | -$4.56M | -$21.2M | $20.3M | $10.2M | $45.7M |
| Net margin | — | -0.1% | 3.3% | 3.3% | -8.1% | -0.6% | -2.4% | 1.9% | 0.8% | 3.2% |
| EPS (diluted) | — | -$0.01 | $0.52 | $0.61 | -$1.14 | -$0.12 | -$0.54 | $0.48 | $0.24 | $1.09 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | — | $70.9M | $85.4M | $89.9M | $37.4M | $58.4M | $76.7M | $132M | $171M | $222M |
| Capital expenditures | — | $61.5M | $87.5M | $107M | $69.0M | $101M | $143M | $146M | $135M | $166M |
| Free cash flow | — | $9.35M | -$2.13M | -$16.6M | -$31.7M | -$43.1M | -$65.8M | -$14.0M | $35.7M | $56.5M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $11.6M | $21.5M | $24.8M | $37.1M | $147M | $302M | $279M | $225M | $321M | $360M |
| Total assets | $538M | $471M | $611M | $968M | $1.15B | $1.47B | $1.46B | $1.61B | $1.70B | $1.90B |
| Total liabilities | $337M | $246M | $337M | $646M | $711M | $1.02B | $1.02B | $1.14B | $1.20B | $1.34B |
| Long-term debt | $0.00 | — | — | — | $0.00 | $244M | $244M | $246M | $247M | $248M |
| Shareholders' equity | $152M | $169M | $226M | $299M | $407M | $410M | $415M | $443M | $470M | $525M |
| Retained earnings | $16.7M | $16.4M | $30.4M | $54.4M | $12.2M | $17.7M | $7.58M | $16.8M | $27.0M | $72.7M |
| Shares (wtd avg diluted) | — | 25.9M | 29.2M | 32.3M | 37.1M | 39.1M | 39.2M | 43.9M | 44.2M | 41.8M |
Every figure is extracted from Shake Shack Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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