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Shake Shack SHAK Licensing revenue — Total Revenue

Other product segments

Shack sales
$403.44M+17.5%
Sales-based royalties
$13.56M+7.5%
Initial territory, opening, and termination fees
$620K

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Other financials

Income statement

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Revenue$417.6M+17.2%
Operating income$20.7M-7.3%
Net income$15.7M-8.6%
EPS (diluted)$0.37-9.8%

Balance sheet

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Cash & equivalents$308.0M-8.6%
Total debt$939.6M+12.2%
Total equity$544.3M+10.2%
Total assets$2.0B+9.9%

Cash flow

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Operating cash flow$57.0M-12.3%
CapEx$57.7M+51.5%
Free cash flow-$736.0K-103%

Valuation

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Market cap$2.84B-37.6%
Enterprise value$3.47B-31.3%
P/E64.9×-157×
P/S1.8×-1.6×

Profitability

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Operating margin3.6%+2.3pp
Net margin2.8%+1.3pp
FCF margin-0.8%-4.2pp

Returns & leverage

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Return on equity8.4%+4.1pp
Debt / equity1.7×0.0×
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 source filing: Shake Shack’s 10-Q, filed August 5, 2026.

Filed
Aug 5, 2026, 7:11 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001620533-26-000034
Line itemThirteen Weeks Ended / July 12026Thirteen Weeks Ended / June 252025Twenty-Six Weeks Ended / July 12026Twenty-Six Weeks Ended / June 252025
Shack sales$403,437$343,224$757,484$653,062
Licensing revenue14,18113,24226,87124,302
TOTAL REVENUE417,618356,466784,355677,364
Shack-level operating expenses:
Food and paper costs116,27696,621216,299182,658
Labor and related expenses101,22688,058193,943174,726
Other operating expenses63,11850,768120,63099,030
Occupancy and related expenses30,15125,59358,80550,224

Item 1. Financial Statements (Unaudited).

FAQ

What is Shake Shack's licensing revenue — total revenue?
Shake Shack (SHAK) reported licensing revenue — total revenue of $14.18M in Q2 2026.
How has Shake Shack's licensing revenue — total revenue changed year-over-year?
Shake Shack's licensing revenue — total revenue increased by 7.1% year-over-year, from $13.24M to $14.18M.
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.

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