Shake Shack Inc Class A (SHAK) financials
Shake Shack revenue and earnings by year
Shake Shack's revenue was $1.45 billion in the fiscal year to December 31, 2025, up 15.4% from the year before. Net income was $45.7 million, 3.2% of revenue. Since the fiscal year to December 28, 2016, revenue has grown 20.5% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1.45 | 1.25 | 1.09 | 0.90 | 0.74 | 0.52 | 0.59 | 0.46 | 0.36 | 0.27 |
| Revenue growth | 15.4% | 15.2% | 20.8% | 21.7% | 41.5% | -12.1% | 29.4% | 28.0% | 33.6% | — |
| Gross profit | 0.94 | 0.82 | 0.70 | 0.57 | 0.46 | 0.32 | 0.38 | 0.30 | 0.23 | 0.17 |
| Gross margin | 65.2% | 65.4% | 64.6% | 63.3% | 62.5% | 60.8% | 63.6% | 65.4% | 64.7% | 64.4% |
| Operating income | 0.06 | 0.00 | 0.01 | -0.03 | -0.02 | -0.04 | 0.03 | 0.03 | 0.03 | 0.03 |
| Operating margin | 4.3% | 0.2% | 0.5% | -3.0% | -2.1% | -8.4% | 4.3% | 6.9% | 9.4% | 10.4% |
| Net income | 0.05 | 0.01 | 0.02 | -0.02 | -0.00 | -0.04 | 0.02 | 0.02 | -0.00 | 0.01 |
| Net margin | 3.2% | 0.8% | 1.9% | -2.4% | -0.6% | -8.1% | 3.3% | 3.3% | -0.1% | 4.6% |
| Diluted EPS | $1.09 | $0.24 | $0.48 | -$0.54 | -$0.12 | -$1.14 | $0.61 | $0.52 | -$0.01 | $0.53 |
| Free cash flow | 0.06 | 0.04 | -0.01 | -0.07 | -0.04 | -0.03 | -0.02 | -0.00 | 0.01 | -0.00 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open SHAK in Markets.
How Shake Shack makes money
Revenue by segment in the quarter to July 1, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Shack Sales | $403M | 96.6% |
| Sales Based Royalties | $13.6M | 3.2% |
| Initial Territory Opening & Termination Fees | $620K | 0.1% |
See also: SHAK valuation and P/E history · SHAK returns
No forecast, no recommendation. This page describes Shake Shack Inc Class A from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.