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NYSE · Consumer Discretionary

Shake Shack Inc. (SHAK)

As-reported financials and SEC filings for Shake Shack Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Shake Shack Inc.

Shake Shack Inc. operates a chain of fast-casual restaurants known for serving made-to-order Angus beef burgers, crispy chicken, hand-spun milkshakes, and other American classics using premium ingredients. The company manages both company-operated and licensed locations across multiple international cities, including New York, London, Hong Kong, and Tokyo. Shake Shack focuses on delivering a fine casual dining experience and serves a broad customer base seeking elevated versions of traditional American food.

Snapshot

Revenue
$1.45B
Revenue growth (YoY)
15.4%
Net income
$45.7M
Diluted EPS
$1.09
Gross margin
Operating margin
4.3%
Net margin
3.2%
FCF margin
3.9%
ROE
8.3%
net income / fiscal-year-end equity
P/E
72.7×
trailing when available, otherwise FY EPS
Market cap
$2.89B
Long-term debt / equity
0.45×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Shake Shack

  • Revenue grew 15.4% to $1.4B in FY2025, in line with the 15.2% the year before.
  • Operating margin turned positive at 4.3% in FY2025, from a 2.1% operating loss in FY2021.
  • Most recent quarter Q2 FY2026: revenue $418M, up 17.2% from Q2 FY2025.
  • Free cash flow was $57M in FY2025, 3.9% of revenue.
  • Net income rose 348.0% to $46M in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Shake Shack’s fundamentals sit among the 403 Consumer Discretionary companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin4.3%
52nd percentile of 348
Net margin3.2%
55th percentile of 377
FCF margin3.9%
48th percentile of 351
Revenue growth (YoY)+15.4%
86th percentile of 394
ROE8.3%
54th percentile of 343
P/E72.7×
95th percentile of 249
Long-term debt / equity0.45×
48th percentile of 234
Short interest1.61d
20th percentile of 401

Shake Shack’s P/E of 72.7 ranks in the 95th percentile of the 249 peers with a meaningful P/E. Shake Shack’s revenue growth of +15.4% ranks in the 86th percentile of the 394 Consumer Discretionary companies reporting it.

No reported insider transactions (codes P/S) in the last 90 days. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 5 quant / multi-strat books among the superinvestors we track; no conviction manager currently reports a position.

Conviction investors
0
+5 quant / multi-strat
Initiated / added
3
1 new, 2 added
Reduced / exited
4
2 trimmed, 2 exited
Combined position
$35.5M
reported long value
InvestorAs ofPosition valueSharesChange
AQR Capital ManagementquantQ2 2026$22.1M395.3KAdded
Point72 Asset ManagementquantQ2 2026$4.8M85.3KNew
Millennium ManagementquantQ2 2026$3.8M67.7KReduced
D. E. ShawquantQ2 2026$2.9M51.3KAdded
Citadel AdvisorsquantQ2 2026$1.9M33.9KReduced

No longer held by: Polen Capital Management (as of Q2 2026), Two Sigma Investments (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
0
Reported activity
Quiet
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-05-15
filed 2026-05-18
Meyer Daniel HarrisDirectorBuy32.3K$61.88$2.0M
2026-05-15
filed 2026-05-18
Silverman JoshDirectorBuy8.2K$60.37$494K
2026-05-15
filed 2026-05-18
Lynch RobertChief Executive OfficerBuy5.0K$60.39$302K
2026-05-15
filed 2026-05-18
Balbale SumaiyaDirectorBuy4.1K$61.42$250K
2026-05-15
filed 2026-05-18
Chapman Charles J IIIDirectorBuy1.0K$61.32$61K
2026-05-15
filed 2026-05-18
Flug JeffreyDirectorBuy1.0K$61.30$61K
2026-05-15
filed 2026-05-18
Chapman Charles J IIIDirectorBuy780$61.43$48K
2026-05-15
filed 2026-05-18
Chapman Charles J IIIDirectorBuy220$61.32$13K
2026-05-15
filed 2026-05-18
Silverman JoshDirectorBuy100$61.21$6K
2026-04-15
filed 2026-04-17
Sentell Stephanie AnnChief Operations OfficerSell258$102.21$26K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
3.9M
settled 2026-08-14
Change vs prior
+4.9%
vs previous settlement
Days to cover
1.61
at avg daily volume
Avg daily volume
2.4M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-143.9M+4.9%1.61
2026-07-313.7M-8.0%2.24
2026-07-154.0M+10.3%2.04
2026-06-303.7M-15.3%1.96
2026-06-154.3M+5.4%1.51
2026-05-294.1M-19.9%1.69
2026-05-155.1M-17.5%1.32
2026-04-306.2M-6.8%6.32

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$1.45B$1.25B$1.09B$900.5M$739.9M
Gross profit
Operating income$62.5M$3.0M$5.9M$-26.9M$-15.9M
Net income$45.7M$10.2M$20.3M$-21.2M$-4.6M
Diluted EPS$1.09$0.24$0.48$-0.54$-0.12

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$222.4M$171.2M$132.1M$76.7M$58.4M
Capital expenditure$165.8M$135.5M$146.2M$142.6M$101.5M
Free cash flow$56.5M$35.7M$-14.0M$-65.8M$-43.1M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$417.6M17.2%$15.7M$0.37
Q1 FY2026$366.7M14.3%$-290,000$-0.01
Q4 FY2025$400.5M21.9%$11.8M$0.28
Q3 FY2025$367.4M15.9%$12.5M$0.30
Q2 FY2025$356.5M12.6%$17.1M$0.41
Q1 FY2025$320.9M10.5%$4.2M$0.10
Q4 FY2024$328.7M14.8%$8.7M$0.20
Q3 FY2024$316.9M14.7%$-10.2M$-0.26

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorConsumer Discretionary
SIC industryRetail-Eating & Drinking Places
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended July 1, 2026)
Oldest indexed filing2015
SEC CIK1620533

Selected SEC filings

10-K2026-02-26
View on EDGAR →
10-Q2026-08-05
View on EDGAR →
10-Q2026-05-07
View on EDGAR →
8-K2026-08-05
View on EDGAR →
8-K2026-06-12
View on EDGAR →
8-K2026-06-11
View on EDGAR →
8-K2026-06-02
View on EDGAR →

Largest Consumer Discretionary peers

All Consumer Discretionary companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.