Shake Shack 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 31, 2025	Dec '24 Dec 25, 2024	Dec '23 Dec 27, 2023	Dec '22 Dec 28, 2022	Dec '21 Dec 29, 2021
Net Income	45.73	10.21	20.26	-21.23	-4.56
Depreciation & Amortization	106.6	102.47	91.24	72.8	58.99
Other Amortization	3.24	3.19	2.85	2.55	2.11
Loss (Gain) From Sale of Assets	-	-	-	-	1.63
Asset Writedown & Restructuring Costs	5.25	32.37	3.01	2.43	-
Loss (Gain) From Sale of Investments	-	-0.44	-1.7	0.16	0.28
Stock-Based Compensation	19.5	15.92	14.89	13.33	8.7
Other Operating Activities	109.49	76.89	59.55	52.13	35.31
Change in Accounts Receivable	-9.55	-2.84	-2.97	9.14	-4.19
Change in Inventory	-1.17	-0.61	-1.22	-0.33	-0.96
Change in Accounts Payable	-1.53	3.36	0.69	3.54	-6.45
Change in Other Net Operating Assets	-55.21	-69.34	-54.45	-57.76	-32.46
Operating Cash Flow	222.36	171.16	132.14	76.74	58.4
Operating Cash Flow Growth	29.91%	29.53%	72.19%	31.40%	56.37%
Capital Expenditures	-165.85	-135.5	-146.17	-142.56	-101.5
Investment in Securities	-	69.42	13.85	-0.87	-43.4
Investing Cash Flow	-165.85	-66.08	-132.32	-143.42	-144.89
Long-Term Debt Issued	-	-	-	-	243.75
Total Debt Issued	-	-	-	-	243.75
Long-Term Debt Repaid	-5.51	-3.96	-3.27	-2.97	-2.69
Total Debt Repaid	-5.51	-3.96	-3.27	-2.97	-2.69
Net Debt Issued (Repaid)	-5.51	-3.96	-3.27	-2.97	241.06
Issuance of Common Stock	0.12	1.63	0.74	0.42	6.73
Repurchase of Common Stock	-9.82	-6.2	-2.99	-2.24	-3.55
Other Financing Activities	-1.89	-0.48	-0.16	-0.41	-2.21
Financing Cash Flow	-17.1	-9.02	-5.68	-5.2	242.02
Foreign Exchange Rate Adjustments	-	0	-0	-0	-0
Net Cash Flow	39.41	96.06	-5.87	-71.89	155.53
Free Cash Flow	56.51	35.66	-14.03	-65.82	-43.09
Free Cash Flow Growth	58.48%	-	-	-	-
Free Cash Flow Margin	3.91%	2.85%	-1.29%	-7.31%	-5.82%
Free Cash Flow Per Share	1.35	0.81	-0.32	-1.68	-1.10
Cash Interest Paid	0.82	0.88	0.54	0.25	0.25
Cash Income Tax Paid	4.26	6.53	4.06	3.73	2.81
Levered Free Cash Flow	29.68	16.5	-32.24	-55.95	-38.05
Unlevered Free Cash Flow	29.99	16.73	-32.22	-56.05	-37.93
Change in Working Capital	-67.45	-69.44	-57.96	-45.41	-44.07

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