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Shake Shack SHAK Pre-opening costs

Pre-opening costs at other companies

Texas Roadhouse logo
Texas RoadhouseTXRH
$6.64M-2.6%
Chipotle Mexican Grill logo
Chipotle Mexican GrillCMG

Segments

By segment

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Reportable Segment$6.87M+113%

Other financials

Income statement

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Revenue$366.7M+14.3%
Operating income-$2.6M-193%
Net income-$290.0K-107%
EPS (diluted)-$0.01-110%

Balance sheet

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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

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Operating cash flow$8.5M-72.8%
CapEx$47.2M+60.8%
Free cash flow-$38.7M-2,170%

Valuation

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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

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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 us-gaap:PreOpeningCosts.

The official record: Shake Shack’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Shake Shack's pre-opening costs?
Shake Shack (SHAK) reported pre-opening costs of $6.87M in Q1 2026.
How has Shake Shack's pre-opening costs changed year-over-year?
Shake Shack's pre-opening costs increased by 113.5% year-over-year, from $3.22M to $6.87M.
What is the long-term trend for Shake Shack's pre-opening costs?
Over 4 years (2021 to 2025), Shake Shack's pre-opening costs has grown at a 7.9% compound annual growth rate (CAGR), from $13.29M to $18M.
What does pre-opening costs mean?
This metric captures the expenses incurred during the development and preparation phase of new store locations prior to their official launch. These costs typically include lease payments, staff recruitment, and training expenses associated with scaling the physical footprint. High levels of these costs indicate an aggressive expansion strategy, while their impact on profitability provides insight into the efficiency of the company's growth execution.