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Cheesecake Factory CAKE Pre-opening costs

Pre-opening costs at other companies

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$15K-96.6%
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$8.49M+55.4%
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$2.86M+81.1%
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$6.16M+37.5%
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SweetgreenSG
$1.11M-56.3%

Segments

By segment

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North Italia$1.91M-28.6%
Other Fox Restaurant Concepts Llc$1.73M-38.0%
The Cheesecake Factory$1.42M+4.8%
All Other Segments$410K-67.6%

Other financials

Income statement

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Revenue$1.0B+7.7%
Gross profit$586.2M+0.2%
Operating income$78.6M+21.3%
Net income$68.4M+24.8%
EPS (diluted)$1.41+23.7%

Balance sheet

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Cash & equivalents$195.2M+31.2%
Total debt$562.9M-73.2%
Total equity$459.2M+35.3%
Total assets$3.3B+6.0%

Cash flow

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Operating cash flow$96.7M+22.6%
CapEx$43.4M+1.3%
Free cash flow$53.3M+47.8%

Valuation

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Market cap$5.34B+73.6%
Enterprise value$7.25B+13.5%
P/E29.9×+10.5×
P/S1.4×+0.5×

Profitability

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Gross margin75.9%-1.9pp
Operating margin5.3%-0.1pp
Net margin4.6%+0.3pp
FCF margin4.5%+1.3pp

Returns & leverage

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Return on equity41.3%-5.3pp
Debt / equity4.7×-1.5×
Current ratio0.6×+0.1×

Where this comes from

Reported directly by Cheesecake Factory in its filing.

Tagged under the XBRL concept us-gaap:PreOpeningCosts.

The source filing: Cheesecake Factory’s 10-Q, filed May 4, 2026.

Filed
May 4, 2026, 5:01 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001104659-26-054987
Line itemThirteen / Weeks Ended / March 31, 2026Thirteen / Weeks Ended / April 1, 2025
Depreciation and amortization expenses27,98426,082
Impairment of assets and lease termination expenses829378
Acquisition-related contingent consideration, compensation and amortization expenses1,202998
Preopening costs5,4708,087
Total costs and expenses923,788875,238
Income from operations55,04551,959
Interest expense, net(1,995)(2,328)
Loss on extinguishment of debt(15,891)

Item 1. Financial Statements.

FAQ

What is Cheesecake Factory's pre-opening costs?
Cheesecake Factory (CAKE) reported pre-opening costs of $5.47M in Q1 2026.
How has Cheesecake Factory's pre-opening costs changed year-over-year?
Cheesecake Factory's pre-opening costs decreased by 32.4% year-over-year, from $8.09M to $5.47M.
What is the long-term trend for Cheesecake Factory's pre-opening costs?
Over 4 years (2021 to 2025), Cheesecake Factory's pre-opening costs has grown at a 24.6% compound annual growth rate (CAGR), from $13.71M to $33.08M.
What does pre-opening costs mean?
This metric encompasses all expenses incurred prior to the launch of a new restaurant location, such as staff recruitment, training, and initial marketing. It is a key indicator of the company's expansion velocity and the upfront investment required to scale the brand footprint. Tracking these costs helps evaluate the efficiency of the new store development pipeline.

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