CHEESECAKE FACTORY INC

Listed Company

CAKECIK 0000887596NasdaqLarge AcceleratedRetail-Eating PlacesDelawareFY ends Dec 30

Period

FY 2025

Revenue

—

Net Income

$148.43M

Total Assets

$3.26B

Equity

$436.43M

Shares Out

49.86M

Op. Cash Flow

$301.28M

Business

CHEESECAKE FACTORY INC is a restaurant company that develops, operates and licenses upscale casual and fast‑casual dining concepts focused on experiential dining and hospitality. It offers extensive made‑from‑scratch menus, proprietary cheesecakes and other baked desserts, full‑service bars, off‑premise and delivery options, and consumer packaged goods under The Cheesecake Factory At Home brand. Its key business segments include The Cheesecake Factory, North Italia, Flower Child, Fox Restaurant Concepts (Other FRC) and bakery operations. It operates company‑owned restaurants across the United States and Canada, international licensed locations, retail and foodservice distribution channels, and online and third‑party delivery platforms.

Summary from filing dated 2025-02-24

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	3,752	3,582	3,440	3,303	2,928
Food and beverage costs	813	806	804	811	653
Labor expenses	1,313	1,264	1,228	1,212	1,073
Other operating costs and expenses	1,014	959	922	882	792
General and administrative expenses	245	229	217	206	186
Depreciation and amortization expenses	109	101	93	92	90
Impairment of assets and lease termination expenses	23	14	29	31	18
Acquisition-related contingent consideration, compensation and amortization expenses	14	2	12	13	20
Preopening costs	33	27	25	17	14
Total costs and expenses	3,565	3,403	3,331	3,264	2,845
Income from operations	187	178	109	39	82
Interest expense, net	−10	−10	−10	−7	—
Loss on extinguishment of debt	−16	—	—	—	—
Other income, net	2	3	2	1	—
Income before income taxes	163	171	100	33	72
Income tax provision/(benefit)	14	14	−1	−10	−753,000
Net income	148	157	101	43	72
Basic (in dollars per share)	3.17	3.28	2.1	0.87	1.03
Diluted (Note 1) (in dollars per share)	3.06	3.2	2.07	0.86	1.01
Basic (in shares)	47	48	48	50	48
Diluted (in shares)	49	49	49	50	49

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	216	84	56	115	190
Accounts and other receivables	110	113	103	106	101
Income taxes receivable	21	17	21	22	36
Inventories	54	65	58	56	43
Prepaid expenses	55	55	63	48	36
Total current assets	455	333	301	346	406
Property and equipment, net	870	841	791	746	742
Intangible assets, net	252	252	252	252	252
Operating lease assets	1,445	1,400	1,302	1,269	1,241
Other	241	216	195	163	158
Total other assets	1,937	1,868	1,748	1,683	1,651
Total assets	3,262	3,042	2,840	2,775	2,798
Accounts payable	63	62	63	67	54
Gift card liabilities	213	227	223	220	211
Operating lease liabilities	167	157	135	139	132
Other accrued expenses	265	265	240	231	239
Current portion of long-term debt	69	—	—	—	—
Total current liabilities	777	711	661	657	636
Long-term debt	561	452	470	468	466
Operating lease liabilities	1,332	1,299	1,255	1,233	1,218
Other noncurrent liabilities	155	136	137	125	147
Total liabilities	2,825	2,598	2,522	2,483	—
Commitments and contingencies (Note 13)	—	—	—	—	—
Preferred stock, $.01 par value, 5,000,000 shares authorized; none issued and outstanding	—	—	—	—	—
Common stock, $.01 par value, 250,000,000 shares authorized; 109,546,812 shares issued and 49,635,893 shares outstanding at December 30, 2025 and 108,387,574 shares issued and 51,332,298 shares outstanding at December 31, 2024	1	1	1	1	1
Additional paid-in capital	1,008	956	913	887	863
Retained earnings	1,413	1,318	1,216	1,170	1,169
Treasury stock inclusive of excise tax, 59,910,919 and 57,055,276 shares at cost at December 30, 2025 and December 31, 2024, respectively	−1,985	−1,830	−1,812	−1,766	−1,703
Accumulated other comprehensive loss	−1	−2	−694,000	−982,000	−287,000
Total stockholders' equity	436	443	318	292	330
Total liabilities and stockholders' equity	3,262	3,042	2,840	2,775	2,798

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Impairment of assets and lease termination expenses	19	13	27	31	18
Deferred income taxes	−7	−6	−16	−19	−21
Stock-based compensation	27	30	26	24	23
Payment of deferred consideration and compensation in excess of acquisition-date fair value	−9	−7	—	—	—
Accounts and other receivables	−4	−2	−98,000	−12	−25
Income taxes receivable/payable	−3	3	852,000	15	715,000
Inventories	11	−7	−2	−13	−3
Prepaid expenses	−30,000	8	−15	−12	−1
Operating lease assets/liabilities	−10	−32	−27	−18	−4
Other assets	−18	−14	−15	14	−9
Accounts payable	2	−2	4	18	−4
Gift card liabilities	−14	4	3	9	27
Other accrued expenses	34	21	37	−10	50
Cash provided by operating activities	301	268	218	162	213
Additions to property and equipment	−146	−160	−152	−112	−67
Additions to intangible assets	−1	−1	−2	−680,000	−606,000
Other	—	321,000	−274,000	329,000	−1
Cash used in investing activities	−147	−161	−153	−113	−69
Acquisition-related deferred consideration and compensation	—	—	−24	−18	−17
Borrowings on credit facility	—	—	15	130	—
Repayments on credit facility	−110	−20	−15	−130	−150
Proceeds from long-term convertible debt	575	—	—	—	345
Repayment on long-term convertible debt, including premium on extinguishment	−290	—	—	—	—
Issuance costs associated with long-term debt	−17	—	—	—	−10
Proceeds from exercise of stock options	25	12	—	84,000	25
Common stock dividends paid	−52	−53	−53	−42	−337,000
Treasury stock purchases, inclusive of excise tax	−154	−18	−46	−63	−6
Cash used in financing activities	−23	−79	−124	−124	−109
Foreign currency translation adjustment	315,000	−548,000	144,000	−325,000	−27,000
Net change in cash and cash equivalents	132	28	−58	−75	36
Interest paid	9	13	10	7	10
Income taxes paid (1)	23	19	14	15	13
Construction payable	17	24	17	9	4

Filings

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