Shake Shack Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Apr '26 Apr 1, 2026	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	44.9	49.71	10.82	20.99	-23.11	-6.02
Depreciation & Amortization	111.27	108.79	104.61	93.04	74.3	60.24
Stock-Based Compensation	20.12	19.5	15.92	14.89	13.33	8.7
Other Adjustments	113.68	111.81	109.25	61.18	57.64	39.55
Change in Receivables	-7.09	-9.55	-2.84	-2.97	9.14	-4.19
Changes in Inventories	-1.3	-1.17	-0.61	-1.22	-0.33	-0.96
Changes in Accounts Payable	4	-1.53	3.36	0.69	3.54	-6.45
Changes in Accrued Expenses	12.42	29.96	11.12	12.84	6.36	11.38
Changes in Other Operating Activities	-98.38	-85.17	-80.47	-67.29	-64.12	-43.84
Operating Cash Flow	199.62	222.36	171.16	132.14	76.74	58.4
Operating Cash Flow Growth	16.25%	29.91%	29.53%	72.19%	31.40%	56.37%
Capital Expenditures	-183.69	-165.85	-135.5	-146.17	-142.56	-101.5
Purchases of Investments	-	-	-	-94.71	-0.87	-47.4
Proceeds from Sale of Investments	-	-	69.42	108.56	-	4
Investing Cash Flow	-183.69	-165.85	-66.08	-132.32	-143.42	-144.89
Long-Term Debt Issued	-	-	-	-	-	243.75
Net Long-Term Debt Issued (Repaid)	-	-	-	-	-	243.75
Issuance of Common Stock	0.07	0.12	1.63	0.74	0.42	6.73
Repurchase of Common Stock	-6.62	-9.82	-6.2	-2.99	-2.24	-3.55
Net Common Stock Issued (Repurchased)	-6.56	-9.7	-4.57	-2.25	-1.82	3.18
Other Financing Activities	-8.6	-7.36	-4.48	-3.43	-3.38	-4.91
Financing Cash Flow	-15.2	-17.1	-9.02	-5.68	-5.2	242.02
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-0	-	0	-0	-0	-0
Net Cash Flow	0.73	39.41	96.06	-5.87	-71.89	155.53
Free Cash Flow	15.93	56.51	35.66	-14.03	-65.82	-43.09
Free Cash Flow Growth	-71.80%	58.48%	-	-	-	-
FCF Margin	1.07%	3.91%	2.85%	-1.29%	-7.31%	-5.82%
Free Cash Flow Per Share	0.38	1.35	0.81	-0.32	-1.68	-1.13
Levered Free Cash Flow	-114.48	-69.24	-87.28	-87.85	-144.04	158.06
Unlevered Free Cash Flow	-117.41	-72.17	-95.18	-100.79	-148.4	-86.63

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