Cheesecake Factory
CAKE Nasdaq· Restaurants
Last close · Oct 26, 2026
$110.13
KIRA · Stoqly’s AI analyst, in plain words
- Cheesecake Factory had $3.8B of revenue in fiscal 2025, up 4.8% on the year before. Over five years, revenue changed +13.6% a year on average.
- Its operating margin was 5.0%, up 0.0 pts: of every 100 in sales, about 5 is left after running the business.
- Cheesecake Factory made $148M of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew 0.9% a year.
- Free cash flow was $155M in fiscal 2025, 4.1% of revenue.
- Cheesecake Factory returned $206M to shareholders in fiscal 2025, 133% of free cash flow. The diluted share count fell 0.9%.
- Cheesecake Factory owes $414M more than it holds in cash, about 1.4 years of operating profit.
Market cap
$5.3B
P/E
29.8x
Revenue
$3.8B
Net income
$148M
Free cash flow
$155M
Operating margin
5.0%
Cheesecake Factory in 30 seconds · fiscal 2025
Are sales growing?
+4.8%
Only a little. Sales grew 4.8% last year.
Does it make a profit?
4.0%
A little. It keeps 4.0% of every sale as profit.
Does profit turn into cash?
4.1%
Partly. 4.1% of sales ends up as free cash.
Is debt under control?
1.4x
Keep an eye on it. Repaying its debt would take 1.4 years of operating profit.
How healthy are the accounts?
5 / 8
Mixed. It passes 5 of 8 health tests.
How is the share priced?
29.8x
One share costs 29.8 times its yearly profit per share. Typical for its sector: 17.7x.
What Cheesecake Factory does
Cheesecake Factory owns and operates restaurants in the United States and Canada. As of February 23, 2026, it ran 368 restaurants: 216 The Cheesecake Factory, 48 North Italia, 43 Flower Child and 55 other restaurants from its Fox Restaurant Concepts group. Another 35 The Cheesecake Factory restaurants operate abroad under licensing agreements. It also runs two bakeries that make cheesecakes and other baked goods for its restaurants, international licensees and outside customers. Most of its revenue comes from restaurant sales. The Cheesecake Factory restaurants offer moderate prices, a menu of approximately 225 items and a full-service bar. In fiscal 2025, alcoholic drinks were 11% of sales at those restaurants, and food and drinks taken off the premises were approximately 21%. It uses a third party for delivery and offers online ordering for to-go sales.
Biggest risks, in its own words
- Weak economic conditions that reduce spending by diners and raise its costs.
- Not being able to grow sales at its existing restaurants.
- Damage to its brands and reputation, which it calls its greatest asset.
- Labor cost inflation and attempts to organize its workers.
- Fiscal year ends
- December 30, 2025
- Latest annual report
- 10-K · Feb 23, 2026
- Legal name
- THE CHEESECAKE FACTORY INCORPORATED
- CIK
- 0000887596
Cheesecake Factory · CAKE
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $2.9B | $3.3B | $3.4B | $3.6B | $3.8B |
| Revenue growth | 47.6% | 12.8% | 4.1% | 4.1% | 4.8% |
| Gross margin | 77.7% | — | — | — | — |
| Operating margin | 2.8% | 1.2% | 3.2% | 5.0% | 5.0% |
| Net income | $72.4M | $43.1M | $101M | $157M | $148M |
| Net margin | 2.5% | 1.3% | 3.0% | 4.4% | 4.0% |
| Diluted EPS | $1.01 | $0.86 | $2.07 | $3.20 | $3.06 |
| Cash | |||||
| Cash from operations | $213M | $162M | $218M | $268M | $301M |
| Capital expenditure | $66.9M | $113M | $152M | $160M | $146M |
| Free cash flow | $146M | $49.5M | $66.8M | $108M | $155M |
| FCF margin | 5.0% | 1.5% | 1.9% | 3.0% | 4.1% |
| Dividends paid | $0.3M | $42.3M | $53.2M | $53.0M | $52.2M |
| Share buybacks | $5.8M | $63.1M | $46.1M | $18.2M | $154M |
| Share count change | 10.6% | 3.9% | −2.7% | −0.2% | −0.9% |
| Debt and strength | |||||
| Cash and short-term investments | $190M | $115M | $56.3M | $84.2M | $216M |
| Debt incl. finance leases | $466M | $468M | $470M | $452M | $630M |
| Shareholders' equity | $330M | $292M | $318M | $444M | $436M |
| Net debt / EBITDA | 1.6x | 2.7x | 2.1x | 1.3x | 1.4x |
| Current ratio | 0.6x | 0.5x | 0.5x | 0.5x | 0.6x |
| Interest coverage | 8.6x | 5.4x | 11.1x | 13.8x | 21.6x |
| Returns and quality | |||||
| Return on capital | 16.1% | 6.2% | 15.8% | 21.2% | 20.5% |
| Return on equity | 23.4% | 13.9% | 33.2% | 41.2% | 33.7% |
| Piotroski F-score | 7 | 5 | 7 | 8 | 5 |
| Altman Z'' | 1.2 | 0.9 | 1.0 | 1.2 | 1.3 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$30.1M
9 insiders
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cheesecake Factory · CAKE
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| Cheesecake Factory CAKE | $5.3B | 4.8% | 5.0% | 4.1% | 20.5% | 29.8x | 5 |
| Cracker Barrel CBRL | $1.5B | −4.7% | −0.4% | 2.7% | — | — | — |
| Domino's DPZ | $10.4B | 5.0% | 19.3% | 13.6% | 92.2% | 17.3x | 8 |
| Brinker International EAT | $8.4B | 7.9% | 10.7% | 9.6% | 66.0% | — | 8 |
| Texas Roadhouse TXRH | $10.9B | 9.4% | 8.1% | 5.8% | 33.0% | 26.5x | 4 |
Price compared with profit (P/E)
How many times its yearly profit per share one share costs. Higher means investors pay more for each unit of profit.
KIRA
At $110.13 a share, the company is worth $5.3B: 29.8 times its earnings of the last four quarters.
Cheesecake Factory grew sales faster than 1 of its 4 similar companies. Its P/E is higher than 2 of 2.
Source: SEC EDGAR XBRL filings (CIK 0000887596). Data updated October 10, 2026. For information only — not investment advice. Check the original filings before relying on any figure.