Shake Shack Inc. (SHAK) Key Metrics
SHAK valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $2.99B
- Enterprise value
- $2.99B
- P/E (TTM)
- 73.7 10-yr median 92.1
- Forward P/E
- 41.7
- PEG ratio
- 2.98
- Price / sales
- 1.9 10-yr median 3.1
- Price / book
- 4.3 10-yr median 6.4
- EV / EBITDA
- 16.4 10-yr median 32.6
- Dividend yield
- —
- Beta
- 1.68
SHAK key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsSHAK valuation Price multiples at each fiscal year-end price.
SHAK returns How much profit the business earns on the capital it uses.
SHAK per-share figures Results divided by the shares outstanding at year-end.
SHAK financial health Debt, liquidity and how easily interest is covered.
SHAK efficiency & capital use Working capital cycle and where the cash goes.
SHAK valuation history
SHAK returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
SHAK debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
SHAK cash returned to shareholders
SHAK price vs earnings per share
SHAK key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $3.40B | $5.74B | $3.25B | $1.63B | $2.82B | $3.15B | $1.92B | $1.33B | $1.12B | $839.2M |
| Enterprise value | $3.94B | $6.23B | $3.73B | $2.04B | $3.12B | $3.35B | $2.19B | $1.36B | $1.13B | $845.6M |
| P/E ratio | 74.3 | 562.1 | 160.6 | — | — | — | 96.9 | 87.3 | — | 67.4 |
| Price / sales | 2.4 | 4.6 | 3.0 | 1.8 | 3.8 | 6.0 | 3.2 | 2.9 | 3.1 | 3.1 |
| Price / book | 6.5 | 12.2 | 7.3 | 4.0 | 6.9 | 7.7 | 6.4 | 4.8 | 5.0 | 4.2 |
| Price / free cash flow | 60.1 | 160.9 | — | — | — | — | — | — | 119.6 | — |
| Price / operating cash flow | 15.3 | 33.5 | 24.6 | 21.2 | 48.3 | 84.3 | 21.4 | 15.5 | 15.8 | 15.5 |
| EV / sales | 2.7 | 5.0 | 3.4 | 2.3 | 4.2 | 6.4 | 3.7 | 3.0 | 3.2 | 3.1 |
| EV / EBITDA | 21.7 | 51.5 | 33.4 | 39.6 | 70.2 | 599.9 | 31.9 | 21.8 | 6.2 | 19.5 |
| EV / free cash flow | 69.7 | 174.6 | — | — | — | — | — | — | 121.0 | — |
| Earnings yield | 1.3% | 0.2% | 0.6% | −1.3% | −0.2% | −1.3% | 1.0% | 1.1% | −0.0% | 1.5% |
| Free cash flow yield | 1.7% | 0.6% | −0.4% | −4.0% | −1.5% | −1.0% | −0.9% | −0.2% | 0.8% | −0.0% |
| Dividend yield | — | — | — | 0.1% | 0.1% | 0.1% | 0.4% | 0.1% | 0.2% | 0.0% |
| Shareholder yield (dividends + buybacks) | — | — | 0.1% | 0.2% | 0.2% | 0.1% | 0.5% | 0.1% | 0.2% | 0.0% |
| Share price at fiscal year-end | $81.17 | $129.80 | $74.12 | $41.53 | $72.16 | $84.78 | $59.57 | $45.42 | $43.20 | $35.79 |
| Per share | ||||||||||
| Revenue per share | $34.54 | $28.34 | $24.77 | $22.95 | $18.93 | $14.08 | $18.43 | $15.74 | $13.87 | $11.45 |
| Earnings per share | $1.09 | $0.23 | $0.46 | −$0.54 | −$0.12 | −$1.14 | $0.61 | $0.52 | −$0.01 | $0.53 |
| Operating cash flow per share | $5.31 | $3.87 | $3.01 | $1.96 | $1.49 | $1.01 | $2.78 | $2.93 | $2.74 | $2.32 |
| Free cash flow per share | $1.35 | $0.81 | −$0.32 | −$1.68 | −$1.10 | −$0.85 | −$0.53 | −$0.07 | $0.36 | −$0.01 |
| Cash per share | $8.61 | $7.26 | $6.68 | $7.93 | $9.78 | $4.95 | $2.28 | $0.85 | $0.83 | $0.49 |
| Book value per share | $12.55 | $10.63 | $10.10 | $10.51 | $10.48 | $10.97 | $9.27 | $9.37 | $8.68 | $8.59 |
| Tangible book value per share | $12.50 | $10.59 | $10.06 | $10.46 | $10.44 | $10.93 | $9.22 | $9.33 | $8.64 | $8.56 |
| Dividends per share | — | — | — | $0.05 | $0.08 | $0.05 | $0.24 | $0.03 | $0.09 | $0.00 |
| Capex per share | $3.96 | $3.07 | $3.33 | $3.63 | $2.60 | $1.86 | $3.30 | $3.00 | $2.38 | $2.32 |
| Debt per share | $21.56 | $18.32 | $17.57 | $18.36 | $17.56 | $10.37 | $10.56 | $1.97 | $1.32 | $0.77 |
| Shares outstanding | 41.8M | 44.2M | 43.9M | 39.2M | 39.1M | 37.1M | 32.3M | 29.2M | 25.9M | 23.4M |
| Change in shares outstanding | −5.3% | +0.7% | +11.9% | +0.4% | +5.3% | +15.1% | +10.5% | +12.8% | +10.4% | +72.6% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 9.2% | 2.2% | 4.7% | −5.2% | −1.1% | −11.9% | 6.9% | 6.1% | −0.2% | 6.9% |
| Return on invested capital (ROIC) | 5.8% | 0.2% | 0.7% | −2.8% | −1.9% | −5.9% | 5.2% | 8.3% | 7.6% | 14.0% |
| Return on assets (ROA) | 2.5% | 0.6% | 1.3% | −1.4% | −0.4% | −4.0% | 2.5% | 2.8% | −0.1% | 2.7% |
| Return on tangible assets | 2.4% | 0.6% | 1.3% | −1.4% | −0.3% | −3.7% | 2.0% | 2.5% | −0.1% | 2.3% |
| Free cash flow margin | 3.9% | 2.8% | −1.3% | −7.3% | −5.8% | −6.1% | −2.8% | −0.5% | 2.6% | −0.1% |
| Income quality (OCF / net income) | 4.86 | 16.77 | 6.52 | — | — | — | 4.52 | 5.63 | — | 4.36 |
| Financial health | ||||||||||
| Total debt | $902.1M | $809.6M | $771.3M | $720.5M | $686.2M | $385.0M | $340.4M | $57.4M | $34.2M | $18.0M |
| Cash & short-term investments | $360.1M | $320.7M | $293.2M | $311.2M | $382.4M | $183.8M | $73.6M | $24.8M | $21.5M | $11.6M |
| Net debt | $542.0M | $488.9M | $478.1M | $409.3M | $303.8M | $201.2M | $266.8M | $32.7M | $12.7M | $6.3M |
| Debt / equity | 1.72 | 1.72 | 1.74 | 1.75 | 1.68 | 0.95 | 1.14 | 0.21 | 0.15 | 0.09 |
| Debt / assets | 0.48 | 0.48 | 0.48 | 0.48 | 0.47 | 0.34 | 0.35 | 0.09 | 0.07 | 0.03 |
| Net debt / EBITDA | 2.99 | 4.04 | 4.28 | 7.94 | 6.83 | 36.04 | 3.89 | 0.53 | 0.07 | 0.15 |
| Current ratio | 1.76 | 1.97 | 2.04 | 2.33 | 3.37 | 1.85 | 0.88 | 1.69 | 2.74 | 2.65 |
| Quick ratio | 1.73 | 1.93 | 2.01 | 2.30 | 3.34 | 1.83 | 0.86 | 1.66 | 2.70 | 2.62 |
| Interest coverage | 39.7 | 1.5 | 3.4 | -17.7 | -10.1 | -53.8 | 59.2 | 13.1 | 20.6 | 74.3 |
| Working capital | $185.4M | $180.9M | $170.4M | $196.3M | $288.2M | $93.5M | −$11.7M | $41.2M | $59.2M | $52.2M |
| Invested capital | $1.07B | $958.9M | $921.5M | $821.5M | $713.3M | $608.5M | $565.6M | $306.1M | $237.2M | $207.7M |
| Tangible asset value | $551.7M | $491.6M | $467.5M | $435.0M | $434.1M | $433.1M | $320.5M | $272.3M | $223.6M | $200.7M |
| Net current asset value | −$912.1M | −$835.1M | −$802.1M | −$731.1M | −$615.5M | −$507.7M | −$563.1M | −$236.0M | −$152.9M | −$252.9M |
| Graham number | $17.57 | $7.43 | $10.24 | — | — | — | $11.32 | $10.47 | — | $10.13 |
| Graham net-net per share | −$22.48 | −$19.57 | −$18.65 | −$18.96 | −$16.13 | −$13.97 | −$17.63 | −$10.40 | −$8.49 | −$13.66 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | $1.8M | $3.2M | $1.8M | $7.8M | $751,000 | $2.4M | $0 |
| Share buybacks (net) | — | — | $3.0M | $2.2M | $3.6M | $1.8M | $1.4M | $949,000 | $314,000 | $0 |
| Dividend payout ratio | — | — | — | — | — | — | 39.4% | 4.9% | — | 0.0% |
| Dividends + buybacks / free cash flow | — | — | — | — | — | — | — | — | 28.8% | — |
| Capex / revenue | 11.5% | 10.8% | 13.4% | 15.8% | 13.7% | 13.2% | 17.9% | 19.1% | 17.1% | 20.3% |
| Capex / operating cash flow | 74.6% | 79.2% | 110.6% | 185.8% | 173.8% | 184.8% | 118.9% | 102.5% | 86.8% | 100.3% |
| Capex / depreciation | 1.56 | 1.30 | 1.57 | 1.92 | 1.68 | 1.37 | 2.62 | 3.02 | 2.84 | 3.75 |
| Stock-based compensation / revenue | 1.3% | 1.3% | 1.4% | 1.5% | 1.2% | 1.1% | 1.3% | 1.3% | 1.6% | 2.0% |
| SG&A / revenue | 12.2% | 26.8% | 19.4% | 20.9% | 19.8% | 22.2% | 19.2% | 18.6% | 18.7% | 19.5% |
| Efficiency | ||||||||||
| Days sales outstanding | 8.9 | 7.1 | 8.9 | 7.6 | 5.7 | 6.8 | 6.3 | 6.4 | 5.9 | 6.9 |
| Days of inventory on hand | 2.0 | 3.1 | 2.9 | 2.8 | 2.8 | 3.0 | 2.2 | 2.2 | 2.0 | 1.8 |
| Days payables outstanding | 7.4 | 12.3 | 12.8 | 14.2 | 18.3 | 22.2 | 14.8 | 15.2 | 14.5 | 18.0 |
| Cash conversion cycle (days) | 3.5 | -2.2 | -1.0 | -3.7 | -9.8 | -12.4 | -6.4 | -6.6 | -6.6 | -9.2 |
| Receivables turnover | 40.96 | 51.47 | 41.05 | 47.83 | 64.00 | 53.81 | 58.02 | 56.83 | 61.61 | 52.52 |
| Payables turnover | 49.03 | 29.58 | 28.55 | 25.72 | 19.96 | 16.42 | 24.58 | 24.01 | 25.12 | 20.32 |
| Inventory turnover | 179.68 | 118.88 | 127.10 | 129.19 | 128.64 | 121.41 | 165.74 | 165.07 | 184.18 | 206.51 |
| Asset turnover | 0.80 | 0.76 | 0.70 | 0.61 | 0.57 | 0.49 | 0.75 | 0.85 | 0.71 | 0.59 |
| Average receivables | $35.3M | $24.3M | $26.5M | $18.8M | $11.6M | $9.7M | $10.2M | $8.1M | $5.8M | $5.1M |
| Average payables | $24.2M | $22.9M | $21.3M | $20.2M | $21.7M | $18.9M | $13.4M | $10.3M | $7.6M | $6.9M |
| Average inventory | $6.6M | $5.7M | $4.8M | $4.0M | $3.4M | $2.6M | $2.0M | $1.5M | $1.0M | $674,500 |
| Intangibles / total assets | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.2% | 0.2% | 0.1% |
Computed from SHAK's annual financial statements (latest annual report filed February 26, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
SHAK valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Shake Shack traded at 74.3 times earnings, against a 10-year median of 92.1. Based on the latest twelve months, the trailing P/E is 73.7 and the forward P/E is 41.7. Shake Shack earned a return on equity of 9.2% and a return on invested capital of 5.8% in fiscal 2025. It ended the year with $902.1 million of debt and $360.1 million in cash and short-term investments, net debt of $542.0 million. The share count rose 78.5% from 23.4M to 41.8M over 9 years.
See the SHAK income statement, the SHAK chart for price history, or the SHAK stock overview for the latest quote and news.
SHAK key metrics FAQ
What is Shake Shack's P/E ratio?
Shake Shack's trailing P/E ratio is 73.7 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 41.7. At the end of fiscal 2025 it was 74.3, compared with a 10-year median of 92.1.
What is Shake Shack's EV/EBITDA?
Shake Shack's enterprise value was 21.7 times EBITDA at the end of fiscal 2025 (enterprise value $3.9 billion, EBITDA $181.4 million); the current EV/EBITDA is 16.4.
What is Shake Shack's return on equity?
Shake Shack's return on equity (ROE) was 9.2% in fiscal 2025: net income of $45.7 million on average shareholders' equity of $497.7 million.
What is Shake Shack's ROIC?
Shake Shack's return on invested capital was 5.8% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Shake Shack have?
Shake Shack had total debt of $902.1 million at the end of fiscal 2025, a debt-to-equity ratio of 1.72 and $542.0 million of net debt (2.99 times EBITDA).
What is Shake Shack's free cash flow yield?
Shake Shack generated $56.5 million of free cash flow in fiscal 2025, a free cash flow yield of 1.7% on its market value at year-end ($3.4 billion).
What is Shake Shack's current ratio?
Shake Shack's current ratio was 1.76 at the end of fiscal 2025: current assets were 1.76 times current liabilities.