Cheesecake Factory Inc-The (CAKE) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q4 26	$1.18	$1.44	+22.0%	—	—	—
Q3 26	$1.01	$1.05	+4.0%	—	—	—
Q2 26	$0.99	$1	+1.0%	—	—	—
Q1 26	$0.6	$0.68	+13.3%	—	—	—
Q4 25	$1.06	$1.16	+9.4%	—	—	—
Q3 25	$0.82	$0.93	+13.4%	—	—	—
Q2 25	$0.92	$1.04	+13.0%	—	—	—
Q1 25	$0.49	$0.58	+18.4%	—	—	—
Q4 24	$1	$1.09	+9.0%	—	—	—
Q3 24	$0.64	$0.73	+14.1%	—	—	—
Q2 24	$0.73	$0.8	+9.6%	—	—	—
Q1 24	$0.43	$0.39	-9.3%	—	—	—
Q4 23	$0.82	$0.88	+7.3%	—	—	—
Q3 23	$0.59	$0.61	+3.4%	—	—	—
Q2 23	$0.57	$0.56	-1.8%	—	—	—
Q1 23	$0.28	-$0.03	-110.7%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$3.17	—	—	$3.8B	—
FY24	—	$3.28	—	—	$3.6B	—
FY23	—	$2.1	—	—	$3.4B	—
FY22	—	$0.87	—	—	$3.3B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$2.3B	$2.3B	$2.3B	$2.5B	$2B	$2.9B	$3.3B	$3.4B	$3.6B	$3.8B
YoY change	+8.34%	-0.67%	+3.18%	+6.45%	-20.1%	+47.6%	+12.8%	+4.13%	+4.13%	+4.75%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	2.3B	2.3B	2.3B	2.5B	2B	2.9B	3.3B	3.4B	3.6B	3.8B
Cost of revenue	1.3B	1.3B	1.4B	1.5B	1.2B	1.7B	2B	2B	2.1B	2.1B
Gross profit	989.1M	963.5M	965.3M	1B	746.3M	1.2B	1.3B	1.4B	1.5B	1.6B
Gross margin	43.5%	42.6%	41.4%	41.1%	37.6%	41.1%	38.8%	40.9%	42.2%	43.3%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	146M	141.5M	154.8M	160.2M	157.6M	186.1M	205.8M	217.4M	228.7M	244.9M
Operating expenses	686.4M	694.3M	721.6M	791.8M	773.7M	978.4M	1.1B	1.1B	1.2B	1.3B
Operating income	214.7M	176.5M	147.7M	141.3M	-118.8M	133.7M	100.5M	175.1M	221.9M	257.8M
Operating margin	9.43%	7.81%	6.33%	5.69%	-5.99%	4.57%	3.04%	5.09%	6.2%	6.87%
Non-operating income, net	-13.7M	-24.1M	-33.6M	1.5M	-228.6M	-51.4M	-61.6M	-66.5M	-40.7M	-84.5M
Pretax income	191.8M	146.5M	107.4M	140.3M	-356M	71.6M	32.9M	100M	171M	162.9M
Income tax	52.3M	-10.9M	8.4M	13M	-102.7M	-753K	-10.2M	-1.3M	14.3M	14.5M
Net income	139.5M	157.4M	99M	127.3M	-253.4M	72.4M	43.1M	101.4M	156.8M	148.4M
Net margin	6.13%	6.96%	4.25%	5.13%	-12.8%	2.47%	1.31%	2.95%	4.38%	3.96%
EBITDA	316.4M	292.8M	239M	268.7M	-27.4M	223.3M	192.9M	268.2M	326.2M	368.8M
EPS	2.91	3.35	2.19	2.9	-6.32	1.03	0.87	2.1	3.28	3.17
Diluted EPS	2.83	3.27	2.14	2.86	-6.32	1.01	0.86	2.07	3.2	3.06

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	830.2M	877M	891.2M	904M	865.5M	921M	927.2M	955.8M	907.2M	961.6M	978.8M	1B
Cost of revenue	496.4M	510M	524.2M	519M	506.2M	521M	533.3M	539.4M	520.4M	532.9M	560M	575.3M
Gross profit	333.8M	367M	367M	385.1M	359.2M	400M	393.9M	416.5M	386.8M	428.6M	418.8M	454.3M
Gross margin	40.2%	41.8%	41.2%	42.6%	41.5%	43.4%	42.5%	43.6%	42.6%	44.6%	42.8%	44.1%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	54.2M	54.7M	60.4M	54.4M	56.2M	57.8M	59.9M	58.8M	59M	67.2M	63.9M	65.6M
Operating expenses	283.7M	289.7M	293.9M	293.5M	295.7M	304.9M	306.4M	314.5M	314.7M	323.4M	328.3M	338.3M
Operating income	27.2M	53.3M	48.4M	66.6M	38.3M	68.6M	61.4M	75.1M	44.7M	76.6M	62.5M	86.9M
Operating margin	3.28%	6.08%	5.43%	7.37%	4.42%	7.45%	6.62%	7.86%	4.92%	7.97%	6.39%	8.44%
Non-operating income, net	-8.2M	-45.2M	-9.1M	-7.9M	-4.6M	-19.2M	-24.6M	-10M	-6.9M	-42.9M	-7.2M	-8M
Pretax income	17M	5.7M	37.5M	56.3M	31.8M	45.3M	34.5M	62.2M	35.5M	30.7M	53.4M	76.9M
Income tax	-942K	-7M	4.3M	3.9M	1.8M	4.2M	1.5M	7.4M	3.6M	1.9M	3.8M	8.5M
Net income	17.9M	12.7M	33.2M	52.4M	30M	41.2M	32.9M	54.8M	31.9M	28.8M	49.5M	68.4M
Net margin	2.16%	1.45%	3.72%	5.8%	3.47%	4.47%	3.55%	5.73%	3.52%	2.99%	5.06%	6.64%
EBITDA	50.1M	77.4M	73.1M	91.6M	63.6M	97.9M	88.2M	102.2M	72.5M	105.8M	90.8M	116.4M
EPS	0.37	0.27	0.7	1.1	0.63	0.86	0.69	1.18	0.68	0.62	1.06	1.47
Diluted EPS	0.37	0.26	0.68	1.08	0.61	0.83	0.67	1.14	0.66	0.6	1.02	1.41

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	2.9B	2.3B	2B	1.7B	1.6B	1.9B	1.6B	1.7B	2.3B	2.4B	5.2B
Enterprise value	2.8B	2.3B	2B	3.3B	3.1B	3.5B	3.3B	3.5B	4.1B	4.3B	7.1B
Shares outstanding	48M	46.9M	45.3M	43.9M	43.9M	47.5M	49.8M	48.3M	47.8M	46.8M	46.8M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	20.6	14.4	19.9	13.4	—	25.7	36.6	16.7	14.5	15.9	28.7
P/S	1.26	1	0.84	0.69	0.82	0.64	0.48	0.49	0.63	0.63	1.36
P/B	4.76	3.69	3.45	2.99	3.21	5.64	5.41	5.32	5.11	5.41	10.1
EV/EBITDA	8.91	7.74	8.17	12.1	-113.4	15.6	17.1	13	12.5	11.6	20
EV/Sales	1.24	1	0.84	1.31	1.57	1.19	1	1.02	1.14	1.14	1.83
Earnings yield	4.86%	6.96%	5.03%	7.45%	—	3.89%	2.73%	5.99%	6.92%	6.28%	3.49%
FCF yield	6.92%	5.15%	9.41%	8.37%	-2.95%	7.82%	3.09%	3.85%	4.72%	6.52%	3.19%
PEG	—	—	—	—	—	—	—	—	—	—	1.17

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	43.5%	42.6%	41.4%	41.1%	37.6%	41.1%	38.8%	40.9%	42.2%	43.3%	44.1%
Operating margin	9.43%	7.81%	6.33%	5.69%	-5.99%	4.57%	3.04%	5.09%	6.2%	6.87%	7.77%
Net margin	6.13%	6.96%	4.25%	5.13%	-12.8%	2.47%	1.31%	2.95%	4.38%	3.96%	4.61%
ROE	23.1%	25.7%	17.3%	22.3%	-50%	21.9%	14.8%	31.9%	35.4%	34%	38.8%
ROA	10.8%	11.8%	7.54%	4.48%	-9.22%	2.59%	1.55%	3.57%	5.15%	4.55%	4.7%
ROIC	28.4%	28.6%	24.6%	6.04%	-5.97%	6.83%	4.98%	8.25%	8.97%	9.99%	10.2%
Return on tangible assets	11%	12%	7.85%	6.47%	-11.3%	3.15%	1.9%	4.34%	6.18%	5.38%	5.87%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.59	0.52	0.47	0.4	0.58	0.64	0.53	0.46	0.47	0.59	0.59
Quick ratio	0.5	0.42	0.38	0.32	0.52	0.57	0.44	0.37	0.38	0.52	0.52
Debt / equity	—	0.02	0.02	2.81	3.23	5.5	6.3	5.85	4.3	4.88	4.01
Debt / assets	—	0.01	0.01	0.57	0.6	0.65	0.66	0.65	0.63	0.65	0.63
Net debt / EBITDA	—	0.01	-0.07	5.77	-54.1	7.28	8.95	6.72	5.59	5.19	4.89
Interest coverage	—	—	16.8	57.2	-40.4	7.69	6.44	12.7	17.9	16.6	22.1
Effective tax rate	27.3%	0%	7.8%	9.29%	0%	0%	0%	0%	8.34%	8.88%	9.07%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	47.4	48.2	51.5	56.5	45.2	61.6	66.3	71.2	74.9	80.2	83.2
EPS (basic)	2.91	3.35	2.19	2.9	-6.32	1.03	0.87	2.1	3.28	3.17	3.17
EPS (diluted)	2.83	3.27	2.14	2.86	-6.32	1.01	0.86	2.07	3.2	3.06	3.69
Book value per share	12.6	13.1	12.6	13	11.6	6.95	5.86	6.58	9.28	9.33	10.4
FCF per share	4.15	2.48	4.1	3.25	-1.09	3.06	0.98	1.35	2.24	3.29	4.23
Cash per share	1.12	0.13	0.59	1.33	3.51	3.99	2.3	1.16	1.76	4.61	3.92
Capex per share	2.41	2.57	2.27	1.68	1.15	1.41	2.26	3.14	3.36	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	5.09%	5.34%	4.41%	2.97%	2.54%	2.29%	3.4%	4.41%	4.48%	—	—
Capex / operating cash flow	39.8%	53.8%	39.2%	30.7%	-24.1%	45.8%	73.7%	89.9%	70.9%	—	—
Payout ratio	30.4%	31.7%	56.8%	47.7%	-6.23%	26.3%	98%	52.5%	33.8%	35.2%	30.9%
Dividend yield	1.47%	2.21%	2.86%	3.56%	0.97%	1.02%	2.68%	3.14%	2.34%	2.21%	1.14%

Yield

1.14%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.30

ex-dividend Aug 11, 2026

Payout ratio

31%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 11, 2026	$0.30
May 13, 2026	$0.30
Mar 4, 2026	$0.30
Nov 10, 2025	$0.27
Aug 12, 2025	$0.27
May 14, 2025	$0.27
Mar 5, 2025

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$830.2M	$877M	$891.2M	$904M	$865.5M	$921M	$927.2M	$955.8M	$907.2M	$961.6M	$978.8M	$1B
YoY change	+5.89%	-1.77%	+2.9%	+4.37%	+4.25%	+5.01%	+4.04%	+5.73%	+4.82%	+4.41%	+5.57%	+7.72%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	53.8M	6M	26.6M	58.4M	154.1M	189.6M	114.8M	56.3M	84.2M	215.7M
Receivables	15.6M	19.9M	20.9M	25.6M	—	—	—	—	—	—
Inventory	34.9M	42.6M	38.9M	47.2M	39.3M	42.8M	55.6M	57.7M	64.5M	54M
Total current assets	221.4M	208.6M	195.2M	244.5M	341.4M	405.6M	345.8M	300.8M	333.3M	454.8M
Property, plant & equipment	872.5M	897.4M	869.2M	2B	2B	1.9B	2B	2B	2.2B	2.3B
Goodwill & intangibles	23.1M	24.1M	52.4M	874.4M	506.3M	503.4M	503M	503.5M	503.6M	503.6M
Total assets	1.3B	1.3B	1.3B	2.8B	2.7B	2.8B	2.8B	2.8B	3B	3.3B
Accounts payable	41.6M	51M	49.1M	61.9M	58.4M	54.1M	66.6M	63.2M	62.1M	62.7M
Short-term debt	—	—	—	128.1M	132.5M	131.8M	139.1M	134.9M	157.1M	236.2M
Total current liabilities	376.5M	398M	416.5M	614.6M	586.1M	636.3M	656.7M	660.7M	711.4M	777M
Long-term debt	—	10M	10M	1.5B	1.5B	1.7B	1.7B	1.7B	1.8B	1.9B
Total liabilities	690.1M	719.5M	743.1M	2.3B	2.2B	2.5B	2.5B	2.5B	2.6B	2.8B
Shareholders' equity	603.2M	613.5M	571.1M	571.7M	506.9M	330.2M	292M	318.1M	443.5M	436.4M
Total debt	—	10M	10M	1.6B	1.6B	1.8B	1.8B	1.9B	1.9B	2.1B
Net debt	—	4M	-16.6M	1.5B	1.5B	1.6B	1.7B	1.8B	1.8B	1.9B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	64M	56.3M	60.2M	40.7M	52.2M	84.2M	135.4M	148.8M	190M	215.7M	235.1M	195.2M
Receivables	70.2M	—	75.6M	72.4M	74.3M	—	82.9M	90.5M	93.2M	—	77.3M	86.4M
Inventory	58.7M	57.7M	65.5M	71M	69.8M	64.5M	66.9M	66.4M	63.4M	54M	50.6M	50.5M
Total current assets	272.4M	300.8M	283.6M	277.9M	286.5M	333.3M	361.1M	379.4M	423.9M	454.8M	464.8M	418.8M
Property, plant & equipment	2.1B	2B	2.1B	2.1B	2.2B	2.2B	2.3B	2.3B	2.3B	2.3B	2.3B	2.4B
Goodwill & intangibles	251.5M	503.5M	251.8M	252M	252M	503.6M	252.2M	252.1M	252.1M	503.6M	252M	252M
Total assets	2.8B	2.8B	2.8B	2.9B	2.9B	3B	3.1B	3.2B	3.2B	3.3B	3.3B	3.3B
Accounts payable	53.4M	63.2M	61.4M	68.6M	62.7M	62.1M	63.6M	59.1M	55.5M	62.7M	66.9M	70.7M
Short-term debt	144.5M	134.9M	147.4M	149.9M	140M	157.1M	148M	218M	234.6M	236.2M	239.1M	172M
Total current liabilities	618.5M	660.7M	654.5M	642.6M	651.9M	711.4M	683.9M	737.1M	771.4M	777M	781.3M	713.6M
Long-term debt	1.7B	1.7B	1.7B	1.7B	1.7B	1.8B	2B	1.9B	1.9B	1.9B	1.9B	1.9B
Total liabilities	2.5B	2.5B	2.5B	2.5B	2.5B	2.6B	2.8B	2.8B	2.8B	2.8B	2.8B	2.8B
Shareholders' equity	321.6M	318.1M	332.4M	374M	396.4M	443.5M	339.4M	400.9M	425.3M	436.4M	459.2M	519M
Total debt	1.9B	1.9B	1.9B	1.9B	1.9B	1.9B	2.1B	2.1B	2.1B	2.1B	2.1B	2.1B
Net debt	1.8B	1.8B	1.8B	1.8B	1.8B	1.8B	2B	2B	1.9B	1.9B	1.9B	1.9B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	139.5M	157.4M	99M	127.3M	-253.4M	72.4M	43.1M	101.4M	156.8M	148.4M
Depreciation & amortization	88M	92.7M	96M	88.1M	91.4M	89.7M	92.4M	93.1M	101.5M	109M
Stock-based compensation	21.5M	16.5M	20M	19.4M	21.4M	23M	24.4M	25.8M	30M	27.2M
Change in working capital	25.4M	-17M	52.9M	7.4M	-908K	-18.1M	11.2M	-35.9M	-49.6M	-36.7M
Operating cash flow	290.7M	224.4M	262.4M	240M	-208.7M	146.1M	152.5M	168.7M	226.1M	301.3M
Capital expenditure	-115.8M	-120.8M	-102.9M	-73.8M	-50.3M	-66.9M	-112.5M	-151.6M	-160.4M	—
Investing cash flow	-157.8M	-138.8M	-127.4M	-361M	-50.3M	-68M	-112.1M	-151.8M	-160M	—
Dividends paid	-42.4M	-49.9M	-56.3M	-60.7M	-15.8M	-19M	-42.3M	-53.2M	-53M	-52.2M
Share repurchases	-146.5M	-123M	-109.3M	-51M	-3.6M	-449.5M	-63.1M	-46.1M	-18.2M	-153.9M
Financing cash flow	-140.3M	-70.1M	-78.9M	168.3M	143.1M	-283.6M	-253.7M	-138.5M	-111.3M	-157.4M
Net change in cash	-7.4M	15.5M	56.1M	47.4M	-116M	-205.5M	-213.4M	-121.7M	-45.3M	143.9M
Free cash flow	198.9M	116.4M	185.4M	142.9M	-48M	145.5M	48.8M	65.2M	106.9M	154M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	17.9M	12.7M	33.2M	52.4M	30M	41.2M	32.9M	54.8M	31.9M	28.8M	49.5M	68.4M
Depreciation & amortization	22.8M	24M	24.8M	25M	25.3M	26.4M	26.1M	26.9M	27.4M	28.7M	28M	29.1M
Stock-based compensation	6.6M	6.9M	7.6M	6.8M	7M	8.5M	7.6M	7.2M	5.7M	6.8M	7M	8.8M
Change in working capital	-55.2M	9.7M	-12.9M	-27.9M	-58M	14.8M	-18.9M	-14.9M	-46.3M	26.9M	15M	-31.7M
Operating cash flow	-8.6M	36M	55.7M	55.8M	5.7M	80.9M	52M	71.9M	90.6M	74.9M	96.7M	92.2M
Capital expenditure	-37.3M	-51.6M	-37.1M	-29.2M	-54.2M	-39.9M	-42.8M	-41.5M	—	—	—	—
Investing cash flow	-37.3M	-51.8M	-37.1M	-29M	-54.1M	-39.9M	-42.8M	-41.5M	—	—	—	—
Dividends paid	-13.1M	-13.1M	-12.8M	-13.9M	-13.1M	-13.2M	-12.5M	-14.3M	-12.6M	-12.8M	-14.2M	-15.7M
Share repurchases	-14.6M	-9.8M	-12.5M	-3.9M	-1.1M	-763K	-141.4M	-131K	-1.2M	-11.2M	-18.4M	-11M
Financing cash flow	-38.9M	-22.9M	-25.3M	-17.7M	-14.2M	-14M	4.9M	-14.5M	-13.8M	-24M	-33.8M	-95.8M
Net change in cash	-84.8M	-38.7M	-6.8M	9.1M	-62.5M	27M	14M	15.9M	76.8M	51M	62.9M	-3.6M
Free cash flow	11.6M	15.1M	29.4M	-1.9M	25.5M	53.9M	35.6M	15.3M	53.6M	49.6M	53M	49M

Date	Ratio
Dec 9, 2004	3:2
Jun 19, 2001	3:2
Jun 9, 2000	3:2
Apr 2, 1998	3:2
Mar 16, 1994	3:2

Cheesecake Factory Inc-The Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history