SHAKShake Shack Inc.
Retail-Eating & Drinking Places
- Revenue
- $1.4B
- 15% YoY
- Operating margin
- 4.3%
- 1683% YoY
- EBITDA
- $169M
- 60% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- -0.4×
- −$60M net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear447% of net incomeCash flow under 80% of net income
- Dilutive SBCClear1% of revenueOver 10% of revenue
- Payouts exceed cash flowClear0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear—Over 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $740M | $900M | $1.1B | $1.3B | $1.4B | 15% |
| Operating income | −$16M | −$27M | $6M | $3M | $63M | 1958% |
| Net income | −$10M | −$26M | $21M | $11M | $50M | 359% |
| Operating cash flow | $58M | $77M | $132M | $171M | $222M | 30% |
| Capex | $101M | $143M | $146M | $135M | $166M | 22% |
| Stock-based comp | $9M | $13M | $15M | $16M | $20M | 23% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | −$370K | 96 | 95 |
| FY2024 | — | — | 220 | 143 |
| FY2023 | — | — | 127 | 122 |
| FY2022 | — | — | 71 | 97 |
| FY2021 | — | — | 117 | 123 |