Shake Shack vs Sonos
Add, change or remove companies; up to four.
The short version
- Shake Shack is the larger business, with $1.4B of revenue in fiscal 2025 against $1.4B for Sonos.
- Shake Shack grew revenue faster (15.4%, against −4.9%).
- Shake Shack kept more of each dollar of sales as operating profit (4.3% operating margin, against −3.5%).
- Sonos turned more of its sales into free cash flow (7.5% FCF margin, against 3.9%).
- Shake Shack earned a higher return on the capital invested in it (9.6%, against −23.8%).
- Investors pay more for each dollar of Shake Shack’s earnings: a P/E of 68.6x against 39.9x for Sonos.
| Latest fiscal year | SHAK · FY25 | SONO · FY25 |
|---|---|---|
| Size | ||
| Market cap | $2.7B | $2.1B |
| Revenue | $1.4B | $1.4B |
| Free cash flow | $56.5M | $108M |
| Net income | $45.7M | −$61.1M |
| Growth | ||
| Revenue growth | 15.4% | −4.9% |
| 5-year growth | 22.6% | 1.7% |
| Share count change | −5.3% | −2.0% |
| Profitability | ||
| Gross margin | — | 43.7% |
| Operating margin | 4.3% | −3.5% |
| Net margin | 3.2% | −4.2% |
| FCF margin | 3.9% | 7.5% |
| Return on capital | 9.6% | −23.8% |
| Return on equity | 9.2% | −15.6% |
| Balance sheet | ||
| Net debt | −$96.7M | −$228M |
| Net debt / EBITDA | −0.6x | −19.2x |
| Dividends and buybacks | $0.0M | $81.0M |
| Valuation & quality | ||
| P/E | 68.6x | 39.9x |
| Piotroski F-score | 7 | 4 |
Revenue
FY16
SHAK $269M
SONO $901M
FY17
SHAK $359M
SONO $993M
FY18
SHAK $459M
SONO $1.1B
FY19
SHAK $595M
SONO $1.3B
FY20
SHAK $523M
SONO $1.3B
FY21
SHAK $740M
SONO $1.7B
FY22
SHAK $901M
SONO $1.8B
FY23
SHAK $1.1B
SONO $1.7B
FY24
SHAK $1.3B
SONO $1.5B
FY25
SHAK $1.4B
SONO $1.4B
SHAK
SONO
Operating margin
FY16
SHAK 10.4%
SONO −3.4%
FY17
SHAK 9.4%
SONO −1.6%
FY18
SHAK 6.9%
SONO −0.8%
FY19
SHAK 4.3%
SONO 0.5%
FY20
SHAK −8.4%
SONO −2.1%
FY21
SHAK −2.1%
SONO 9.0%
FY22
SHAK −3.0%
SONO 5.1%
FY23
SHAK 0.5%
SONO −1.2%
FY24
SHAK 0.2%
SONO −3.2%
FY25
SHAK 4.3%
SONO −3.5%
SHAK
SONO
Free cash flow
FY16
SHAK −$0.2M
SONO −$9.2M
FY17
SHAK $9.4M
SONO $30.4M
FY18
SHAK −$2.1M
SONO −$5.2M
FY19
SHAK −$16.7M
SONO $97.4M
FY20
SHAK −$31.7M
SONO $129M
FY21
SHAK −$43.1M
SONO $208M
FY22
SHAK −$65.8M
SONO −$74.5M
FY23
SHAK −$14.0M
SONO $50.1M
FY24
SHAK $35.7M
SONO $135M
FY25
SHAK $56.5M
SONO $108M
SHAK
SONO
Return on capital
FY16
SHAK 20.2%
SONO —
FY17
SHAK 12.6%
SONO —
FY18
SHAK 13.8%
SONO —
FY19
SHAK 10.2%
SONO —
FY20
SHAK −13.3%
SONO —
FY21
SHAK −4.3%
SONO —
FY22
SHAK −6.1%
SONO —
FY23
SHAK 1.5%
SONO −3.5%
FY24
SHAK 0.5%
SONO −15.0%
FY25
SHAK 9.6%
SONO −23.8%
SHAK
SONO
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.