Shake Shack
Operates burger-and-shake restaurants and licenses the brand across international and nontraditional venues.
Something off on this page? Send us feedback.
Profile
Operates and develops U.S. fast-casual restaurants serving burgers, chicken, fries, shakes, frozen custard and beverages, while licensing the brand internationally and in nontraditional venues. Most revenue comes from company-operated Shack sales; licensed partners contribute percentage-based licensing revenue and fees rather than their full restaurant sales.
Operates fast-casual restaurants serving made-to-order Angus beef burgers, crispy chicken, crinkle-cut fries, shakes, frozen custard, lemonade, beer and wine. Company-operated Shacks generate restaurant sales across a growing U.S. footprint, while licensed partners extend the network abroad and through airports, travel plazas and entertainment venues.
Builds the brand around premium ingredients, hospitality, locally tailored restaurant design, culinary launches and digital ordering. Growth execution combines urban stores, suburban drive-thrus, small formats and flagships, supported by site selection, standardized construction, labor scheduling, supply-chain controls and food-safety systems.
Restaurant economics depend on guest traffic, menu pricing, labor and commodity costs, successful site development and consistent licensee execution. U.S. distribution is concentrated with a single broadline distributor, and operations are subject to food-safety, employment, labeling, licensing, zoning and other restaurant regulations.
Company facts
Categories
Key statistics
Year to date −16.2% · Average volume (30d) 1.7M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 6, 2026 | Morgan Stanley | Target | $76 | $74 | |
| Aug 6, 2026 | Mizuho Securities | Target | $80 | $90 | |
| Aug 5, 2026 | Robert W. Baird | Target | $60 | $72 | |
| Aug 3, 2026 | UBS | Reiterate | Neutral | $79 | $68 |
| Jul 31, 2026 | Mizuho Securities | Target | $100 | $80 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $0.31 | $0.43 | +40.8% | $417.2M | $417.6M | +0.1% | +12.25% |
| May 7, 2026Q1 FY26 | $0.11 | $0.00 | −101.3% | $372.4M | $366.7M | −1.5% | +1.30% |
| Feb 26, 2026Q4 FY25 | $0.35 | $0.37 | +6.0% | $402.1M | $400.5M | −0.4% | −2.64% |
| Oct 30, 2025Q3 FY25 | $0.32 | $0.36 | +13.1% | $363.7M | $367.4M | +1.0% | +5.61% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $320.9M | $356.5M | $367.4M | $400.5M | $366.7M | $417.6M | |
| Gross profit | $148.2M | $171.8M | $175.9M | −$236.1M | $174.0M | $286.2M | |
| Operating income | $2.8M | $22.4M | $18.5M | $25.7M | $5.1M | $20.7M | |
| Net income | $4.2M | $17.1M | $12.5M | $11.8M | −$290.0K | $15.7M | |
| Diluted EPS | $0.10 | $0.41 | $0.30 | $0.28 | −$0.01 | $0.37 | |
| Gross margin | 46.2% | 48.2% | 47.9% | -58.9% | 47.4% | 68.5% | |
| Operating margin | 0.9% | 6.3% | 5.0% | 6.4% | 1.4% | 5.0% |
Fiscal years (4-quarter sums)FY21 $739.9M · FY22 $900.5M · FY23 $1.09B · FY24 $1.25B · FY25 $1.45B
Revenue by product · Q2 FY26
Revenue by geography · FY25
Balance sheet, Jul 1, 2026Cash & short-term investments $308.0M · Total debt $263.2M · Total assets $1.95B · Shareholders' equity $544.3M
Dividends
No dividends on record.
Ownership
Shares outstanding 40.35M · Float 38.42M · 95.2% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 6.18M | 15.31% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 2.40M | 5.95% | 13F | Aug 13, 2026 |
| Vanguard Capital Management LLC | 1.75M | 4.34% | 13F | Aug 13, 2026 |
| State Street Corp | 1.57M | 3.89% | 13F | Aug 7, 2026 |
| Marshall Wace, LLP | 1.39M | 3.44% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 15, 2026 | Daniel Harris Meyer | director, 10 percent owner: | +32,258 | $61.88 |
| May 15, 2026 | Robert Lynch | director, officer: Chief Executive Officer | +5,000 | $60.39 |
| May 15, 2026 | Sumaiya Balbale | director | +4,068 | $61.42 |
| May 15, 2026 | Charles J. III Chapman | director | +2,000 | $61.36 |
| May 15, 2026 | Jeffrey Flug | director, 10 percent owner: | +1,000 | $61.30 |
Peers
- McDonald's
Global burger QSR scale across beef, chicken, digital, and drive-thru
- Restaurant Brands International
Burger King and Popeyes overlap in burgers, chicken, and QSR scale
- Wendy's
Burger QSR alternative across beef, chicken, Frosty, and drive-thru
- Chipotle Mexican Grill
Premium fast-casual peer with digital pickup and company-owned growth
- CAVA
Premium fast-casual growth peer competing on quality and digital
- Wingstop
Chicken-focused fast-casual rival with heavy digital and franchise scale
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Shake Shack | $69.75 | −0.23% | $2.82B | 74.1 | 56.4 | 1.8 | +17.2% |
| McDonald's | $265.11 | +0.04% | $188.28B | 21.5 | 20.0 | 6.8 | +3.7% |
| Restaurant Brands International | $78.50 | +0.29% | $27.15B | 23.1 | 18.5 | 2.8 | +4.6% |
| Wendy's | $8.22 | −0.48% | $1.58B | 12.5 | 16.2 | 0.7 | +1.7% |
| Chipotle Mexican Grill | $38.00 | −0.08% | $48.78B | 34.9 | 30.0 | 3.9 | +9.3% |
| CAVA | $66.76 | −0.26% | $7.80B | 121.3 | 110.1 | 5.7 | +31.3% |
| Wingstop | $113.85 | +0.18% | $3.09B | 27.0 | 23.8 | 4.3 | +6.4% |
| Median | 25.0 | 21.9 | 4.1 | +5.5% |