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CAKE

The Cheesecake Factory Incorporated

CAKE

The Cheesecake Factory Incorporated • NASDAQ
$47.66 ▼ -0.17% (-0.08)
Market Cap $2.38 B
52w High $69.70
52w Low $42.69
Dividend Yield 1.08%
P/E 14.49
Volume 337.59K
Outstanding Shares 49.84M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $907.226M ▼ $672.303M ▼ $31.899M ▼ 3.516% ▼ $0.68 ▼ $65.147M ▼
Q2-2025 $955.825M ▲ $685.16M ▲ $54.812M ▲ 5.735% ▲ $1.18 ▲ $91.962M ▲
Q1-2025 $927.197M ▲ $672.977M ▲ $32.941M ▼ 3.553% ▼ $0.69 ▼ $58.237M ▼
Q4-2024 $920.963M ▲ $353.332M ▲ $41.154M ▲ 4.469% ▲ $0.86 ▲ $75.904M ▲
Q3-2024 $865.471M $325.526M $29.994M 3.466% $0.63 $58.999M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $189.978M ▲ $3.241B ▲ $2.816B ▲ $425.349M ▲
Q2-2025 $148.763M ▲ $3.152B ▲ $2.751B ▼ $400.948M ▲
Q1-2025 $135.411M ▲ $3.111B ▲ $2.771B ▲ $339.405M ▼
Q4-2024 $84.176M ▲ $3.042B ▲ $2.598B ▲ $443.455M ▲
Q3-2024 $52.215M $2.936B $2.539B $396.379M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $54.812M ▲ $56.844M ▼ $-41.549M ▲ $-2.283M ▼ $13.352M ▼ $15.295M ▼
Q1-2025 $32.941M ▼ $78.919M ▼ $-43.353M ▼ $15.663M ▲ $51.235M ▲ $36.103M ▼
Q4-2024 $41.154M ▲ $94.001M ▲ $-40.068M ▲ $-21.525M ▼ $31.961M ▲ $53.933M ▲
Q3-2024 $29.994M ▼ $79.879M ▲ $-54.225M ▼ $-14.211M ▲ $11.561M ▲ $25.664M ▲
Q2-2024 $52.444M $27.697M $-29.448M $-17.739M $-19.566M $-1.943M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
North Italia
North Italia
 $80.00M ▲$80.00M ▲$90.00M ▲$80.00M ▼
Other FRC
Other FRC
 $90.00M ▲$90.00M ▲$90.00M ▲$80.00M ▼
Other Segments
Other Segments
 $90.00M ▲$80.00M ▼$90.00M ▲$90.00M ▲
The Cheesecake Factory
The Cheesecake Factory
 $670.00M ▲$670.00M ▲$680.00M ▲$650.00M ▼

Five-Year Company Overview

Income Statement

Income Statement The business has largely moved past its pandemic slump and is back on a clear growth track. Sales have climbed steadily for several years, now sitting comfortably above crisis levels. Profitability, which was badly hit in 2020, has gradually improved each year, with both operating profit and net profit now meaningfully positive. That said, this is still a restaurant operator, so margins are not especially wide, and results remain sensitive to food, labor, and occupancy costs. Overall, the trend is one of recovery and gradual strengthening, but not without vulnerability to cost inflation and consumer spending swings.

Balance Sheet

Balance Sheet The balance sheet shows a mature, asset-heavy restaurant company with a solid base of long-term assets and a relatively lean cash cushion. Debt levels are on the higher side and have edged up over time, leaving the company meaningfully leveraged. Equity shrank during the pandemic shock but has been rebuilding as profits have returned, which is a healthy sign. Even so, the capital structure leans more toward debt than equity, which can amplify both the upside in good times and the strain in downturns or if interest costs rise further.

Cash Flow

Cash Flow Cash generation has recovered well from the disruption several years ago. Operating cash flow has grown steadily, reflecting healthier underlying operations and better profitability. The company is clearly reinvesting in the business: capital spending has increased, likely tied to new locations, remodels, and operational improvements. Even after this spending, free cash flow has been consistently positive in recent years, though not excessive. This suggests a business that can fund its own growth and service its obligations, but without a large surplus to spare if conditions worsen suddenly.

Competitive Edge

Competitive Edge The Cheesecake Factory benefits from strong brand recognition, a distinctive dining experience, and a famously large, eclectic menu that appeals to many different tastes and occasions. Its in-house bakery and dessert franchise add another layer of differentiation that is hard to copy. Operationally, the company has developed scale, standardized processes, and data capabilities that help manage complexity across locations. At the same time, it operates in a very competitive, cyclical industry with intense pressure from other casual dining chains, fast-casual formats, delivery-focused brands, and local restaurants. Its large menu and experience-focused concept are strengths, but they also raise complexity and cost, which must be carefully managed.

Innovation and R&D

Innovation and R&D Innovation here is less about lab research and more about constant menu, process, and technology improvements. The company has invested in data analytics, supply chain monitoring, and digital ordering, which support both customer experience and food quality. It regularly refreshes its extensive menu, experiments with healthier and trend-driven items, and uses its bakery capabilities to extend its dessert offerings. Beyond the core brand, newer concepts like North Italia and Flower Child give it optionality in different dining niches. The main opportunity is to keep using data, digital tools, and menu development to deepen loyalty and capture new demand, while the key risk is falling behind changing consumer preferences or overcomplicating operations.

Summary

Overall, The Cheesecake Factory looks like a restaurant group that has successfully climbed out of a severe downturn and is back on a more stable footing. Sales and profits have been improving, cash flows are healthy, and the brand remains well known with clear points of differentiation. On the other hand, the business still carries notable debt, operates with fairly typical thin restaurant margins, and remains exposed to shifts in consumer spending, labor costs, and food inflation. Its ongoing investments in digital capabilities, menu innovation, and new concepts suggest a management team focused on the long term, but the path forward will likely continue to be shaped by the broader economic environment and competitive pressures in casual dining.

NEWS

November 18, 2025 · 9:00 AM UTC

The Cheesecake Factory to Present at Upcoming Investor Conferences

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November 13, 2025 · 8:11 AM UTC

The Cheesecake Factory Makes Holiday Shopping Sweeter With Special Gift Card Offer

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October 28, 2025 · 4:15 PM UTC

The Cheesecake Factory Reports Results for Third Quarter of Fiscal 2025

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October 7, 2025 · 4:15 PM UTC

The Cheesecake Factory to Webcast Third Quarter Fiscal 2025 Earnings Conference Call on October 28, 2025

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September 25, 2025 · 7:14 AM UTC

CAKE Signs Global Two-Season Deal with Disney Branded Television for MGA Entertainment's ‘Armorsaurs' Series

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