Shake Shack Inc.

For the period ended Sep 24, 2025. Filed Oct 30, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 24, 2025 · Filed Oct 30, 2025

SHAK$77.15+7.3%Stored close · as of Nov 9, 2026

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Contents

Condensed Consolidated Balance Sheets

(in thousands, except share and per share amounts)

September 242025 · December 252024
ASSETS
Current assets:
	Cash and cash equivalents	$357,757		$320,714
	Accounts receivable, net	20,612		19,687
	Inventories	6,311		6,014
	Prepaid expenses and other current assets	30,097		21,801
	Total current assets	414,777		368,216
Property and equipment, net of accumulated depreciation of $529,577 and $457,186, respectively.	598,092		551,600
Operating lease assets	468,087		424,611
Deferred income taxes, net	334,978		341,586
Other assets	11,251		10,958
TOTAL ASSETS	$1,827,185		$1,696,971
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
	Accounts payable	$23,562		$23,609
	Accrued expenses	93,945		63,005
	Accrued wages and related liabilities	25,946		25,422
	Operating lease liabilities, current	60,671		55,739
	Other current liabilities	21,226		19,538
	Total current liabilities	225,350		187,313
Long-term debt	247,469		246,683
Long-term operating lease liabilities	540,248		494,499
Liabilities under tax receivable agreement, net of current portion	247,825		247,017
Other long-term liabilities	31,056		27,833
Total liabilities	1,291,948		1,203,345
Commitments and contingencies (Note 13)
Stockholders' equity:
	Preferred stock, no par value—10,000,000 shares authorized; none issued and outstanding as of September 24, 2025 and December 25, 2024.	—		—
	Class A common stock, $0.001 par value—200,000,000 shares authorized; 40,253,444 and 40,068,068 shares issued and outstanding as of September 24, 2025 and December 25, 2024, respectively.	40		40
	Class B common stock, $0.001 par value—35,000,000 shares authorized; 2,434,789 and 2,455,713 shares issued and outstanding as of September 24, 2025 and December 25, 2024, respectively.	2		2
	Additional paid-in capital	448,096		442,993
	Retained earnings	60,878		26,984
	Accumulated other comprehensive loss	(1)		(1)
	Total stockholders' equity attributable to Shake Shack Inc.	509,015		470,018
Non-controlling interests	26,222		23,608
Total equity	535,237		493,626
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$1,827,185		$1,696,971

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.