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8-K ·Filed Feb 26, 2026

SHAK

Shake Shack Inc.
BULLISH
Impact 8/10
Horizonweeks Processed8mo ago SEC0001620533-26-000013
8-K Item 2.02: Earnings release
Actionable Insight ▲ Bullish

The combination of strong same-store sales growth, margin expansion, and reduced build costs suggests improving unit economics that could support accelerated expansion. The company's guidance for 55-60 company-operated openings in 2026 indicates confidence in its development model. Traders should monitor whether the margin expansion can be sustained as the company scales.

DirectionBullish
Confidencehigh
Horizonweeks
Final — all horizons settled through T+60d ⚠ clustered
SHAK ▼ -36.28% at T+60d
LONG call ✗ call lost -36.28% · α vs SPY -44.03% · entry $98.61 → $62.83
Entry = T+0 close
Feb 26, 2026
via day close
T+1d
-2.64%
call -2.64% · α -2.18%
$96.01
settled 8mo ago
T+5d
-1.85%
call -1.85% · α -0.72%
$96.79
settled 8mo ago
T+20d
-13.72%
call -13.72% · α -7.32%
$85.08
settled 7mo ago
T+60d
-36.28%
call -36.28% · α -44.03%
$62.83
settled 5mo ago

Price Chart

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Executive Summary

Shake Shack reported strong fiscal year 2025 results with total revenue up 15.4% to $1.45 billion, same-Shack sales up 2.3%, and restaurant-level profit margin expanding 120 basis points to 22.6%. The company opened 45 new company-operated and 40 licensed shacks, its largest class to date, while reducing new shack build costs by ~20% to under $2 million. Fourth quarter results showed continued momentum with 21.9% revenue growth and 20.2% adjusted EBITDA growth.

Key Financial Metrics

Revenue
$1.4B
+15.4% YoY
Adj. EPS
$1.32
GAAP: $1.09
Guidance
$1.6b-$1.7b
initiated
Free Cash Flow
$56.5M
Gross Margin
22.6%

Key Facts

  • Total revenue for fiscal year 2025 was $1,445.3 million, up 15.4% year-over-year
  • Same-Shack sales increased 2.3% year-over-year, marking 20 consecutive quarters of positive growth
  • Restaurant-level profit margin expanded 120 basis points to 22.6% of Shack sales
  • Opened 45 new company-operated shacks and 40 licensed shacks in 2025
  • Reduced average net build cost for new shacks to under $2 million, down ~20% year-over-year
  • Adjusted EBITDA grew 20% year-over-year to $209.9 million

Financial Impact

Revenue increased by $192.7 million year-over-year to $1.45 billion, with restaurant-level profit margin expanding to 22.6% and adjusted EBITDA reaching $209.9 million

revenuemarginsepscashFlow

Segment Breakdown

SegmentRevenueGrowth
Company-operated Shacks$1.4B+15.2%
Licensing$54.1M+20.2%

Risk Factors

  • Beef costs increased by low-teens year-over-year, creating margin pressure
  • Average weekly sales decreased 2.5% year-over-year to $77k despite same-store sales growth
  • Fiscal 2026 guidance projects restaurant-level profit margin of 23.0%-23.5%, which would require further improvement from current levels

Market Snapshot

Exchange
NYSE

Investment Themes

Consumer & Retail

Documents Analyzed

This report is based on 6 SEC documents filed with EDGAR.

DocumentAccession Number
8-K Filing (Primary)0001620533-26-000013
Document: a4q25shareholderletter.htm0001620533-26-000013
Document: shak-20260226.htm0001620533-26-000013
Document: 0001620533-26-000013-index-headers.html0001620533-26-000013
Document: 0001620533-26-000013-index.html0001620533-26-000013
Document: 0001620533-26-000013.txt0001620533-26-000013
6 reports for SHAK
Performance horizon

Track record builds as more directional reports settle.

Filters
Rows
Reports for SHAK — sortable, filterable
TypeNow
Aug 5, 2026
11w ago
8-K
MIXED ★ 6/10
$74.33 $72.86▼ −1.98%▼ −2.33%$64.75 (−12.88%)
Jun 2, 2026
21w ago
8-K
BEARISH ★ 6/10
$57.01 $53.78▲ +5.67%▲ +2.70%$64.75 (−13.59%)
May 18, 2026
23w ago
Insider Cluster
BULLISH ★ 4/10
$64.12 $65.42▲ +2.02%▼ −0.23%$64.75 (+0.99%)
May 7, 2026
24w ago
8-K
NEUTRAL ★ 3/10
$69.24 $63.91▼ −7.70%▼ −9.20%$64.75 (−6.48%)
Feb 26, 2026
34w ago
8-K
BULLISH ★ 8/10
$98.61 $96.79▼ −1.85%▼ −0.72%$64.75 (−34.33%)
Feb 24, 2026
34w ago
8-K
NEUTRAL ★ 3/10
$92.13 $97.40▲ +5.72%▲ +6.82%$64.75 (−29.71%)
Showing 6 of 6

US Market Status

Market Open — Closes in 43m

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Report published Feb 26, 2026