What is Shake Shack's payments for tax receivable agreement?

Shake Shack (SHAK) reported payments for tax receivable agreement of $9.25K in Q4 2025.

What does payments for tax receivable agreement mean?

This represents cash payments made to pre-IPO shareholders or other parties under a Tax Receivable Agreement, typically triggered by the realization of tax benefits. These payments represent a significant cash obligation that can impact free cash flow available to common shareholders. Investors track this to evaluate the long-term impact of historical corporate restructuring on current cash availability.

Shake Shack SHAK Payments For Tax Receivable Agreement

Payments For Tax Receivable Agreement at other companies

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$10.22M—

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$0-100%

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$24.48M+57.8%

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$32.21M—

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$6.29M+16.6%

Other financials

Income statement

See full

Revenue$366.7M+14.3%

Operating income-$2.6M-193%

Net income-$290.0K-107%

EPS (diluted)-$0.01-110%

Balance sheet

See full

Cash & equivalents$313.7M+0.2%

Total debt$925.2M+12.2%

Total equity$525.9M+11.1%

Total assets$1.9B+11.0%

Cash flow

See full

Operating cash flow$8.5M-72.8%

CapEx$47.2M+60.8%

Free cash flow-$38.7M-2,170%

Valuation

See full

Market cap$2.18B+0.8%

Enterprise value$2.8B+3.2%

P/E48.4×-126×

P/S1.5×-0.2×

Profitability

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Operating margin3.8%+3.4pp

Net margin3%+2.1pp

FCF margin1.1%-2.0pp

Returns & leverage

See full

Return on equity9%+6.3pp

Debt / equity1.8×0.0×

Current ratio1.7×-0.2×

Where this comes from

Reported directly by Shake Shack in its filing.

Tagged under the XBRL concept shak:PaymentsForTaxReceivableAgreement.

The official record: Shake Shack’s 10-K, filed February 26, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Shake Shack's payments for tax receivable agreement?: Shake Shack (SHAK) reported payments for tax receivable agreement of $9.25K in Q4 2025.
What does payments for tax receivable agreement mean?: This represents cash payments made to pre-IPO shareholders or other parties under a Tax Receivable Agreement, typically triggered by the realization of tax benefits. These payments represent a significant cash obligation that can impact free cash flow available to common shareholders. Investors track this to evaluate the long-term impact of historical corporate restructuring on current cash availability.