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Operates The Cheesecake Factory and other casual-dining restaurant brands known for large portions and extensive menus.
Operates The Cheesecake Factory and other casual-dining restaurant brands known for large portions and extensive menus.
Owns and runs nearly all its US restaurants, so sales per restaurant and the cost of food and labour decide margins, with its own bakery supplying cheesecakes to the restaurants and other customers. Overseas locations operate under licence, with partners paying fees. The 2019 purchase of Fox Restaurant Concepts added a second restaurant arm.
Moat: narrow (brand). Distinctive high-volume, high-portion brand with loyal following, but casual dining is intensely competitive.
Headquarters: Calabasas, California, United States · Founded: 1978 · Employees: 48,400
Size Cheesecake Factory (CAKE) is a United States Consumer Discretionary company (Restaurants) with a market value of $5.32B, the 1141st largest of 3,117 United States companies the cockpit tracks. Shares closed at $106.76 on 6 Nov 2026.
Performance Over six months the shares gained 73.2%, against +14.3% for the median peer and -1.1% for the United States market (cap-weighted) — highest of 20 in its peer set.
Growth Revenue grew 7.9% over the last twelve months (peer median +10.8%); the operating margin is 7.5% (peer median 8.9%).
Valuation It trades at 21.2× forward earnings against a peer median of 31.5× (7th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 17% a year for seven years (Req g). Recent delivered growth is +14%, so the hurdle is +3 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 0.5 points above its cost of capital (9.1% WACC).
Credit Cheesecake Factory has 1 bond outstanding ($575M).
Short interest Short interest is 21.0% of the free float (15 Oct 2026).
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $4.00B | $3.75B | $3.58B | $3.44B | $3.30B |
| Revenue growth | — | +5% | +4% | +4% | — |
| Gross profit | $563M | $503M | $450M | $391M | $307M |
| EBITDA | $414M | $367M | $323M | $268M | $193M |
| Net income | $208M | $148M | $157M | $101M | $43.1M |
| Free cash flow | $218M | $155M | $108M | $66.8M | $49.5M |
| Capital expenditure | $170M | $147M | $161M | $153M | $113M |
| Total debt | $2.15B | $2.13B | $1.91B | $1.86B | $1.84B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Cheesecake Factory CAKE | $5.32B | +73% | +8% | 7% | 21.2× | 16.7% |
| Darden Restaurants DRI | $25.6B | +15% | +8% | 12% | 19.7× | 7.5% |
| Bloomin' Brands BLMN | $835M | +23% | -2% | 3% | 10.5× | 10.6% |
| Brinker International EAT | $8.58B | +49% | +6% | 11% | 14.7× | 9.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CAKE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -0.1% | +10.1% | 5th lowest of 21 |
| 6-month return | +73.2% | +14.3% | highest of 20 |
| Distance from 52-week high | -10.0% | -16.6% | 9th highest of 21 |
| Revenue growth (TTM) | +7.9% | +10.8% | 9th lowest of 21 |
| Operating margin | 7.5% | 8.9% | 10th lowest of 21 |
| Forward P/E | 21.2× | 31.5× | 7th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 16.7% | 6.6% | 6th most demanding of 19 |
| Growth delivered (Del g) | +13.6% | +15.8% | 9th lowest of 19 |
| Hurdle (Req g minus delivered) | +3.1 pp | -2.9 pp | 4th most demanding of 19 |
| ROIC minus cost of capital | +0.5 pp | +6.2 pp | 6th lowest of 21 |
| EV / EBITDA | 17.4× | 14.4× | 7th most expensive of 21 |
| Net debt / EBITDA | 4.6× | 2.1× | 3rd most indebted of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Cheesecake Factory CAKE | United States | $5.32B | +73% | +8% | 7% | 21.2× | 16.7% | +13.6% |
| Skylark 3197.T | Japan | $5.18B | +19% | +11% | 7% | 38.5× | 6.4% | +9.7% |
| Dutch Bros BROS | United States | $5.90B | -36% | +30% | 10% | 31.0× | 36.3% | +38.0% |
| Jersey Mike's Subs JMKE | United States | $6.03B | n/a | +11% | 21% | 26.3× | n/a | n/a |
| Wingstop WING | United States | $4.42B | +26% | +7% | 28% | 35.3× | 21.9% | +22.9% |
| CAVA CAVA | United States | $6.91B | -26% | +27% | 7% | 85.5× | 41.5% | +27.9% |
| Haidilao 6862.HK | Hong Kong | $7.24B | -28% | +11% | 12% | 11.4× | 2.0% | +7.8% |
| McDonald's Holdings Company (Japan) 2702.T | Japan | $7.33B | +7% | +2% | 14% | 32.0× | 1.8% | +7.6% |
| Food & Life Companies 3563.T | Japan | $7.34B | +12% | +24% | 10% | 35.6× | 6.9% | +16.0% |
| Brinker International EAT | United States | $8.58B | +49% | +6% | 11% | 14.7× | 9.3% | +11.7% |
| Jubilant Foodworks JUBLFOOD.NS | India | $3.20B | -5% | +16% | 10% | 61.4× | 28.6% | +23.5% |
| Shake Shack SHAK | United States | $3.08B | +2% | +17% | 5% | 55.7× | n/a | n/a |
| Sodexo SW.PA | France | $9.91B | +28% | 0% | 3% | 17.7× | 6.0% | +6.6% |
| TORIDOLL 3397.T | Japan | $2.68B | +19% | +3% | 7% | 57.7× | 5.9% | +15.6% |
| Domino's DPZ | United States | $11.0B | +4% | +4% | 20% | 16.3× | 1.8% | +3.7% |
| Mitchells & Butlers MAB.L | United Kingdom | $2.56B | +25% | +3% | 12% | 10.2× | 4.7% | +12.9% |
| Saizeriya 7581.T | Japan | $2.52B | +60% | +17% | 5% | 26.9× | 4.6% | +19.0% |
| Texas Roadhouse TXRH | United States | $12.1B | +4% | +10% | 8% | 26.8× | 13.8% | +19.6% |
| create restaurants 3387.T | Japan | $2.34B | +14% | +3% | 5% | 65.7× | 17.8% | +17.3% |
| Zensho 7550.T | Japan | $12.2B | +41% | +12% | 7% | 34.3× | 6.1% | +16.3% |
| Aramark ARMK | United States | $13.9B | +17% | +11% | 4% | 19.8× | 16.1% | +7.6% |
Cheesecake Factory has 1 bond outstanding with $575M face value.