The Cheesecake Factory Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 30, 2025	Dec '24 Dec 31, 2024	Jan '24 Jan 2, 2024	Jan '23 Jan 3, 2023	Dec '21 Dec 28, 2021
Net Income	148.43	156.78	101.35	43.12	72.37
Depreciation & Amortization	108.43	101.05	93.54	90.78	88.55
Loss (Gain) From Sale of Assets	0.6	0.4	-0.4	1.6	1.1
Asset Writedown & Restructuring Costs	19.33	12.77	27	31.33	17.94
Stock-Based Compensation	27.23	29.96	25.78	24.43	22.99
Other Operating Activities	0.47	-12.57	-15.72	-18.65	-20.85
Change in Accounts Receivable	-4.08	-1.72	-0.1	-12.27	-24.82
Change in Inventory	10.56	-6.88	-2.09	-12.73	-3.48
Change in Accounts Payable	1.7	-1.83	3.97	17.59	-3.68
Change in Unearned Revenue	-13.96	3.9	3.1	8.63	26.53
Change in Income Taxes	-3.29	3.25	0.85	14.65	0.72
Change in Other Net Operating Assets	5.86	-16.8	-18.89	-26.56	35.63
Operating Cash Flow	301.28	268.33	218.4	161.93	213.01
Operating Cash Flow Growth	12.28%	22.86%	34.88%	-23.98%	7224.83%
Capital Expenditures	-146.2	-160.36	-151.57	-112.46	-66.94
Sale (Purchase) of Intangibles	-1.06	-1.05	-1.66	-0.68	-0.61
Other Investing Activities	-	0.32	-0.27	0.33	-1.06
Investing Cash Flow	-147.26	-161.1	-153.5	-112.82	-68.61
Long-Term Debt Issued	575	-	15	130	345
Long-Term Debt Repaid	-399.8	-20	-15	-130	-150
Net Debt Issued (Repaid)	175.2	-20	-	-	195
Issuance of Common Stock	24.61	12.48	-	0.08	199.79
Repurchase of Common Stock	-153.9	-18.23	-46.09	-63.13	-5.77
Preferred Dividends Paid	-	-	-	-	-18.66
Common Dividends Paid	-52.19	-53.04	-53.21	-42.27	-0.34
Dividends Paid	-52.19	-53.04	-53.21	-42.27	-19
Other Financing Activities	-16.5	-	-24.24	-18.32	-35.1
Financing Cash Flow	-22.78	-78.79	-123.54	-123.64	-108.83
Foreign Exchange Rate Adjustments	0.32	-0.55	0.14	-0.33	-0.03
Net Cash Flow	131.55	27.89	-58.49	-74.85	35.54
Free Cash Flow	155.08	107.96	66.84	49.46	146.06
Free Cash Flow Growth	43.64%	61.53%	35.13%	-66.14%	-
Free Cash Flow Margin	4.13%	3.01%	1.94%	1.50%	4.99%
Free Cash Flow Per Share	3.19	2.20	1.36	0.98	3.01
Cash Interest Paid	8.68	12.89	9.76	7.23	9.59
Cash Income Tax Paid	22.78	19.12	14.47	14.69	13.03
Levered Free Cash Flow	118.93	108.66	47.99	47.78	134.51
Unlevered Free Cash Flow	125.46	114.98	54.34	52.46	141.19
Change in Working Capital	-3.21	-20.07	-13.15	-10.68	30.9

Source: S&P Global Market Intelligence. Standard template. Financial Sources.