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	109.03	101.45	93.14	92.38	89.65
Stock-Based Compensation	27.23	29.96	25.78	24.43	22.97
Other Adjustments	28.51	6.71	2.57	12.68	-2.91
Change in Receivables	-6.51	-4.08	-1.72	-12.27	-24.82
Changes in Inventories	0.85	10.56	-6.88	14.65	-3.48
Changes in Accounts Payable	-14.5	1.7	-1.83	13.74	-1
Changes in Accrued Expenses	3.1	33.53	21.15	8.63	50.1
Changes in Income Taxes Payable	-0.1	-3.29	3.25	-	0.72
Changes in Unearned Revenue	3.97	-13.96	3.9	17.59	26.53
Changes in Other Operating Activities	-43.9	-27.67	-37.95	-42.59	-8.87
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%	7485.68%
Capital Expenditures	-146.2	-160.36	-151.57	-112.46	-66.94
Purchases of Intangible Assets	-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
Short-Term Debt Issued	-	-	15	130	-
Short-Term Debt Repaid	-110	-20	-15	-130	-150
Net Short-Term Debt Issued (Repaid)	-110	-20	-	-	-150
Long-Term Debt Issued	575	-	-	-	345
Long-Term Debt Repaid	-289.8	-	-	-	-
Net Long-Term Debt Issued (Repaid)	285.2	-	-	-	345
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
Net Common Stock Issued (Repurchased)	-129.29	-5.75	-46.09	-63.05	194.02
Repurchase of Preferred Stock	-	-	-	-	-443.75
Net Preferred Stock Issued (Repurchased)	-	-	-	-	-443.75
Common Dividends Paid	-52.19	-53.04	-53.21	-42.27	-0.84
Preferred Share Dividends Paid	-	-	-	-	-18.66
Other Financing Activities	-16.5	-	-24.24	-18.32	-35.1
Financing Cash Flow	-22.78	-78.79	-123.54	-123.64	-108.83
Effect of Exchange Rate Changes on Cash and Cash Equivalents	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%	-
FCF 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
Levered Free Cash Flow	235.88	78.74	24.57	35.06	354.08
Unlevered Free Cash Flow	82.9	105.41	33.24	42.98	169.89

Updated Dec 30, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.