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Shake Shack SHAK Licensing revenue — Total Revenue

Other product segments

Shack sales
$354.05M+14.3%
Sales-based royalties
$12.15M+14.2%
Initial territory, opening, and termination fees
$537K

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UAALicense revenues — Revenue
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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:RevenueFromContractWithCustomerExcludingAssessedTax.

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 licensing revenue — total revenue?
Shake Shack (SHAK) reported licensing revenue — total revenue of $12.69M in Q1 2026.
How has Shake Shack's licensing revenue — total revenue changed year-over-year?
Shake Shack's licensing revenue — total revenue increased by 14.7% year-over-year, from $11.06M to $12.69M.
What is the long-term trend for Shake Shack's licensing revenue — total revenue?
Over 4 years (2021 to 2025), Shake Shack's licensing revenue — total revenue has grown at a 21.4% compound annual growth rate (CAGR), from $24.9M to $54.14M.
What does licensing revenue — total revenue mean?
This metric represents the total revenue generated from licensing agreements, including royalties and fees paid by third-party operators to use the company's brand and operational model. It reflects the company's ability to scale its brand presence and generate high-margin, asset-light income streams through international and domestic partnerships. This revenue stream is a key indicator of brand equity and the effectiveness of the company's expansion strategy into new markets without direct capital investment.