CHEESECAKE FACTORY INC CAKE

Consumer discretionary SIC 5812 - Retail-Eating Places NAICS Accommodation and Food Services › Food Services and Drinking Places › Restaurants and Other Eating Places derived Nasdaq

The Cheesecake Factory Incorporated is a leader in experiential dining. We are culinary forward and relentlessly focused on hospitality. As of February 23, 2026, we owned and operated 368 restaurants throughout the United States and Canada under brands including The Cheesecake Factory® (216 locations), North Italia® (48 locations), Flower Child® (43 locations) and additional brands within our Fox Restaurant Concepts ("Other FRC") portfolio (55 locations). Internationally, 35 The Cheesecake Factory® restaurants operate under licensing agreements. Our bakery division operates two facilities that produce quality cheesecakes and other baked products for our restaurants, international licensees and third-party bakery customers.

Last close 108.37 2026-10-23
Market cap $5.39B 2026-06-30 share count
52-week range 43.07 - 118.63

Valuation FY2025 figures against the last close

P/S1.4x
P/E35.4x
P/FCF34.8x
EV/EBITDA19.6x
Dividend yield1.0%
Diluted EPS3.06

Where the revenue comes from as reported in the latest 10-K

Revenue by segment

  • The Cheesecake Factory Restaurants
  • Other
  • Other FRC
  • North Italia
Revenue by segment, 4 categories over 3 years. The same figures are in the table below. FY2025 The Cheesecake Factory Restaurants, FY2025: 2.7B (71.7%) 72% The Cheesecake Factory Restaurants Other, FY2025: 362.1M (9.7%) 10% Other Other FRC, FY2025: 355.1M (9.5%) 9% Other FRC North Italia, FY2025: 345.9M (9.2%) 9% North Italia FY2024 The Cheesecake Factory Restaurants, FY2024: 2.7B (74.3%) 74% Other, FY2024: 320.5M (8.9%) 9% Other FRC, FY2024: 300M (8.4%) 8% North Italia, FY2024: 299.6M (8.4%) 8% FY2023 The Cheesecake Factory Restaurants, FY2023: 2.6B (75.4%) 75% Other, FY2023: 321.6M (9.4%) 9% Other FRC, FY2023: 263.9M (7.7%) 8% North Italia, FY2023: 258.9M (7.5%) 8%
Segment FY2025FY2024FY2023
The Cheesecake Factory Restaurants $2.69B $2.66B $2.60B
Other $362.1M $320.5M $321.6M
Other FRC $355.1M $300.0M $263.9M
North Italia $345.9M $299.6M $258.9M

As the company reported it, from the “Segment Information (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $3.75B$3.58B$3.44B$3.30B$2.93B$1.98B$2.48B$2.33B$2.26B$2.28B
Cost of revenue ————$653.1M$458.3M$561.8M$532.9M$519.4M$526.6M
Gross profit ————$2.27B$1.52B$1.92B$1.80B$1.74B$1.75B
SG&A $244.9M$228.7M$217.4M$205.8M$186.1M$157.6M$160.2M$154.8M$141.5M$146.0M
Total operating expenses $3.56B$3.40B$3.33B$3.26B$2.85B$2.33B$2.38B$2.21B$2.11B$2.07B
Operating income $187.3M$178.3M$108.6M$38.9M$82.3M-$347.4M$103.6M$118.9M$152.8M$201.0M
Pre-tax income $162.9M$171.0M$100.0M$32.9M$71.6M-$356.0M$140.3M$107.4M$146.5M$191.8M
Income tax $14.5M$14.3M$1.3M$10.2M$753.0K$102.7M$13.0M$8.4M$10.9M$52.3M
Net income $148.0M$157.0M$101.0M$43.0M$72.0M-$253.4M$127.3M$99.0M——
EPS, basic 3.173.282.100.871.03-6.322.902.193.352.91
EPS, diluted 3.063.202.070.861.01-6.322.862.143.272.83
Shares, diluted (wtd. avg.) 48.6M49.0M49.0M50.4M48.5M43.9M44.5M46.2M48.2M49.4M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $215.7M$84.2M$56.3M$114.8M$189.6M$154.1M$58.4M$26.6M$6.0M$53.8M
Receivables ——————$25.6M$20.9M$19.9M$15.6M
Inventory $54.0M$64.5M$57.7M$55.6M$42.8M$39.3M$47.2M$38.9M$42.6M$34.9M
Total current assets $454.8M$333.3M$300.8M$345.8M$405.6M$341.4M$244.5M$195.2M$208.6M$221.4M
Property, plant and equipment $869.7M$840.8M$791.1M$746.1M$741.7M$774.1M$831.6M$140.2M$935.0M$910.1M
Goodwill $1.5M$1.5M$1.5M$1.5M$1.5M$1.5M$78.4M———
Other intangibles $251.8M$251.8M$251.7M$251.5M$251.7M$253.2M$437.2M$6.2M$24.1M$23.1M
Total assets $3.26B$3.04B$2.84B$2.78B$2.80B$2.75B$2.84B$1.31B$1.33B$1.29B
Accounts payable $62.7M$62.1M$63.2M$66.6M$54.1M$58.4M$61.9M$49.1M$51.0M$41.6M
Short-term debt $68.8M—————————
Total current liabilities $777.0M$711.4M$660.7M$656.7M$636.3M$586.1M$614.6M$416.5M$398.0M$376.5M
Long-term debt $561.3M$452.1M$470.0M$468.0M$466.0M$280.0M$290.0M$10.0M$10.0M—
Total liabilities $2.83B$2.60B$2.52B$2.48B——————
Retained earnings $1.41B$1.32B$1.22B$1.17B$1.17B$4.8M$1.41B$1.38B$1.35B$1.24B
Total equity $436.4M$443.5M$318.1M$292.0M$330.2M$288.7M$571.7M$571.1M$613.5M$603.2M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $301.3M$268.3M$218.4M$161.9M$213.0M$2.9M$218.8M$291.3M$238.8M$316.4M
Depreciation and amortisation $109.0M$101.5M$93.1M$92.4M$89.7M$91.4M$88.1M$96.0M$92.7M$88.0M
Stock-based compensation $27.2M$30.0M$25.8M$24.4M$23.0M$21.4M$19.4M$20.0M$16.5M$21.5M
Capital expenditure $146.2M$160.4M$151.6M$112.5M$66.9M$50.3M$73.8M$102.9M$120.8M$115.8M
Investing cash flow -$147.3M-$161.1M-$153.5M-$112.8M-$68.6M-$50.9M-$363.1M-$130.4M-$140.4M-$159.5M
Financing cash flow -$22.8M-$78.8M-$123.5M-$123.6M-$108.8M$143.7M$176.0M-$140.3M-$146.1M-$146.9M
Dividends paid $52.2M$53.0M$53.2M$42.3M$337.0K$15.8M$60.7M$56.3M$49.9M$42.4M
Buybacks $153.9M$18.2M$46.1M$63.1M$5.8M$3.6M$51.0M$109.3M$123.0M$146.5M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-042016.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -2B 0 2B 4B Revenue, FY2016: 2.3B Gross profit, FY2016: 1.7B Revenue, FY2017: 2.3B Gross profit, FY2017: 1.7B Revenue, FY2018: 2.3B Gross profit, FY2018: 1.8B Net income, FY2018: 99M Revenue, FY2019: 2.5B Gross profit, FY2019: 1.9B Net income, FY2019: 127.3M Revenue, FY2020: 2B Gross profit, FY2020: 1.5B Net income, FY2020: -253.4M Revenue, FY2021: 2.9B Gross profit, FY2021: 2.3B Net income, FY2021: 72M Revenue, FY2022: 3.3B Net income, FY2022: 43M Revenue, FY2023: 3.4B Net income, FY2023: 101M Revenue, FY2024: 3.6B Net income, FY2024: 157M Revenue, FY2025: 3.8B Net income, FY2025: 148M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $2.28B $2.26B $2.33B $2.48B $1.98B $2.93B $3.30B $3.44B $3.58B $3.75B
Gross profit $1.75B $1.74B $1.80B $1.92B $1.52B $2.27B — — — —
Net income — — $99.0M $127.3M -$253.4M $72.0M $43.0M $101.0M $157.0M $148.0M

Recent filings and events

  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Other event Item 8.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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