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Investment Highlights Market Valuation Price Chart Business Description Interactive Breakdown Latest Trefis Analyses Better Bets vs. CAKE Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

Cheesecake Factory (CAKE)

Market Price (9/18/2025): $54.6 | Market Cap: $2.5 Bil
Sector: Consumer Discretionary | Industry: Restaurants

Cheesecake Factory (CAKE)

Market Price (9/18/2025): $54.6
Market Cap: $2.5 Bil
Sector: Consumer Discretionary
Industry: Restaurants

Investment Highlights

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.4%, Dividend Yield is 2.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.9%, FCF Yield is 5.2%		 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 19%		 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 77%
1 Low stock price volatility
Vol 12M is 38%		  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.4%, Dividend Yield is 2.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.9%, FCF Yield is 5.2%
1 Low stock price volatility
Vol 12M is 38%
2 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 19%
3 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 77%

Market Valuation

 9/18/252024202320222021
Share Price CYE$54.60$46.74$33.55$29.43$35.46
Market Cap CYE ($ Bil)2.52.21.61.51.8
Total Debt ($ Bil)2.11.91.91.81.8
Total Cash ($ Bil)0.10.10.10.10.2
Enterprise Value ($ Bil)4.54.13.53.33.6
Valuation Ratios     
P/S TTM0.70.60.50.50.6
P/EBIT TTM13.712.515.439.122.6
P/E TTM15.914.516.736.625.7
Sector Ratios     
P/S TTM (Sector)0.80.80.90.81.3
P/EBIT TTM (Sector)7.26.97.05.57.4
P/E TTM (Sector)9.58.18.97.39.2
 9/18/2520242023
Share Price CYE$54.60$46.74$33.55
Market Cap CYE ($ Bil)2.52.21.6
Total Debt ($ Bil)2.11.91.9
Total Cash ($ Bil)0.10.10.1
Enterprise Value ($ Bil)4.54.13.5
Valuation Ratios   
P/S TTM0.70.60.5
P/EBIT TTM13.712.515.4
P/E TTM15.914.516.7
Sector Ratios   
P/S TTM (Sector)0.80.80.9
P/EBIT TTM (Sector)7.26.97.0
P/E TTM (Sector)9.58.18.9

Market Cap Chart

Business Description

The Cheesecake Factory Incorporated operates restaurants. It operates two bakeries that produces cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors. The company owns and operates 306 restaurants throughout the United States and Canada under brands, including 208 The Cheesecake Factory and 29 North Italia; and a collection of Fox Restaurant Concepts, as well as 29 The Cheesecake Factory restaurants under licensing agreements internationally. Show more

Price Returns Compared

Expand for Detailed View

 202020212022202320242025Total [1]
Returns
CAKE Return-4%6%-17%14%39%16%62%
Peers Return27%16%-9%28%52%2%165%
S&P 500 Return16%27%-19%24%23%12%104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: MCD, CMG, YUM, DRI, EAT. See CAKE Returns vs. Peers.
[3] 2025 data is for the year up to 9/17/2025 (YTD)

Better Bets than Cheesecake Factory (CAKE)

 CAKEBetter Performance than CAKE
MetricValueIndustry (Restaurants)
Rev Chg LTM4.8%CMG (8.6%), YUM (11.3%), DRI (6.0%), QSR (21.8%), TXRH (14.6%)
Rev Chg 3Y Avg5.2%CMG (12.5%), YUM (5.9%), DRI (7.8%), QSR (14.2%), YUMC (5.9%)
Op Mgn LTM6.6%MCD (46.1%), SBUX (10.5%), CMG (17.3%), YUM (30.8%), DRI (11.9%)
CFO/Rev LTM8.4%MCD (37.6%), SBUX (13.4%), CMG (18.1%), YUM (23.2%), DRI (14.1%)
FCF/Rev LTM3.6%MCD (26.5%), SBUX (6.1%), CMG (12.7%), YUM (19.4%), DRI (8.5%)
Total Yield8.4%QSR (9.2%), WEN (20.4%), PZZA (9.0%), CBRL (9.4%), BLMN (10.8%)
 CAKEBetter Performance than CAKE
MetricValueAll Other Sectors
Rev Chg LTM4.8%NVDA (71.6%), MSFT (14.9%), AAPL (6.0%), GOOGL (13.1%), META (19.4%)
Rev Chg 3Y Avg5.2%NVDA (92.0%), MSFT (12.5%), GOOGL (10.2%), META (13.0%), AVGO (24.0%)
Op Mgn LTM6.6%NVDA (58.1%), MSFT (45.6%), AAPL (31.9%), GOOGL (32.7%), META (42.9%)
CFO/Rev LTM8.4%NVDA (46.6%), MSFT (48.3%), AAPL (26.6%), GOOGL (36.0%), META (56.4%)
FCF/Rev LTM3.6%NVDA (43.6%), MSFT (25.4%), AAPL (23.5%), GOOGL (18.0%), META (30.7%)
Total Yield8.4%XOM (9.7%), UNH (9.4%), CVX (9.2%), WFC (9.7%), RY (9.3%)

Latest Trefis Analyses

TitleTopic
0DASHBOARDS 
1Cheesecake Factory Earnings Notes 
2Cheesecake Factory vs UnitedHealth: Which Is A Better Investment?Counter-Intuitive Comparisons
3Cheesecake Factory vs General Motors: Which Is A Better Investment?Counter-Intuitive Comparisons
4Cheesecake Factory vs Portillos: Which Is A Better Investment?Counter-Intuitive Comparisons
5How Does CAKE Stack Up Against Its Peers?Peer Comparison
6Better Bet Than CAKE Stock: Pay Less Than Cheesecake Factory To Get More From OKE, CCL  
7Better Bet Than CAKE Stock: Pay Less Than Cheesecake Factory To Get More From CCL, VVV  
8CAKE Dip Buy Analysis 
9Cheesecake Factory Total Shareholder Return (TSR): 43.8% in 2024 and 11.8% 3-yr compounded annual returns (below peer average) 
10Cheesecake Factory (CAKE) Operating Cash Flow ComparisonFinancials

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10NEONNeonode-82.5%-51.0%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1ECDAECD Automotive Design3347.2%307.9%
2BDSXBiodesix1090.6%-79.7%
3CLSDClearside Biomedical987.7%-74.7%
4ATHAAthira Pharma892.1%544.3%
5SDOTSadot690.6%-79.9%
6ATCHAtlasClear684.9%-83.1%
7HSDTHelius Medical Technologies232.1%-95.5%
8CHEKCheck-Cap222.2%134.4%
9APLMApollomics197.8%89.1%
10SPRCSciSparc147.0%1141.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1CURXCuranex Pharmaceuticals-80.5%148.4%
2ATYRaTyr Pharma-80.4%-71.7%
3NAKAKindly MD-70.2% 
4BNGOBionano Genomics-64.0%-89.8%
5XAGELongevity Health-57.6%-86.1%
6FAASDigiAsia-55.4%-88.0%
7ASSTStrive-54.5%650.3%
8VCIGVCI Global-51.0%-98.9%
9REXREX American Resources-50.7%44.3%
10RBNERobin Energy-42.6% 

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Cheesecake Factory

Financials

CAKEMCDCMGYUMDRIEATMedian
NameCheeseca.McDonald.Chipotle.Yum Bran.Darden R.Brinker . 
Mkt Price54.40304.9739.67148.26208.79144.37146.31
Mkt Cap2.5217.953.441.424.46.432.9
Rev LTM3,66926,06011,5787,90712,0775,3849,742
Op Inc LTM24312,0231,9992,4391,4365541,718
FCF LTM1306,8971,4661,5341,0274141,246
FCF 3Y Avg776,8771,3391,3949872361,163
CFO LTM3109,7932,0921,8341,6986791,766
CFO 3Y Avg2329,3731,9201,6821,6194521,650

Growth & Margins

CAKEMCDCMGYUMDRIEATMedian
NameCheeseca.McDonald.Chipotle.Yum Bran.Darden R.Brinker . 
Rev Chg LTM4.8%1.2%8.6%11.3%6.0%21.9%7.3%
Rev Chg 3Y Avg5.2%3.4%12.5%5.9%7.8%12.5%6.9%
Rev Chg Q5.7%5.4%3.0%9.6%10.6%21.0%7.7%
QoQ Delta Rev Chg LTM1.4%1.4%0.8%2.2%2.7%4.9%1.8%
Op Mgn LTM6.6%46.1%17.3%30.8%11.9%10.3%14.6%
Op Mgn 3Y Avg5.4%45.9%16.9%31.7%11.8%6.9%14.4%
QoQ Delta Op Mgn LTM0.1%0.3%-0.4%-0.5%-0.0%0.6%0.1%
CFO/Rev LTM8.4%37.6%18.1%23.2%14.1%12.6%16.1%
CFO/Rev 3Y Avg6.5%37.0%18.3%22.9%14.3%9.5%16.3%
FCF/Rev LTM3.6%26.5%12.7%19.4%8.5%7.7%10.6%
FCF/Rev 3Y Avg2.2%27.2%12.8%19.0%8.7%4.8%10.8%

Valuation

CAKEMCDCMGYUMDRIEATMedian
NameCheeseca.McDonald.Chipotle.Yum Bran.Darden R.Brinker . 
Mkt Cap2.5217.953.441.424.46.432.9
P/S0.78.44.65.22.01.23.3
P/EBIT13.618.026.716.917.912.517.4
P/E15.926.034.628.923.316.824.6
P/CFO8.222.325.522.614.49.518.3
Total Yield8.4%6.1%2.9%5.3%7.0%5.9%6.0%
Dividend Yield2.1%2.3%0.0%1.9%2.7%0.0%2.0%
FCF Yield 3Y Avg3.4%3.4%1.9%3.6%4.7%5.5%3.5%
D/E0.80.30.10.30.30.30.3
Net D/E0.80.20.10.30.20.30.3

Returns

CAKEMCDCMGYUMDRIEATMedian
NameCheeseca.McDonald.Chipotle.Yum Bran.Darden R.Brinker . 
1M Rtn-12.2%-0.6%-8.6%-0.2%1.6%-7.4%-4.0%
3M Rtn-7.3%5.9%-23.5%7.7%-5.6%-19.0%-6.4%
6M Rtn13.8%0.5%-19.0%-5.0%12.5%2.1%1.3%
12M Rtn45.0%6.2%-32.2%14.2%33.3%92.0%23.7%
3Y Rtn81.0%28.2%17.1%35.7%77.9%409.4%56.8%
1M Excs Rtn-14.5%-3.0%-10.9%-2.6%-0.7%-9.7%-6.4%
3M Excs Rtn-17.7%-5.4%-33.1%-3.9%-16.8%-29.6%-17.3%
6M Excs Rtn-0.2%-16.0%-34.5%-22.4%-5.0%-9.4%-12.7%
12M Excs Rtn31.3%-12.1%-46.6%-4.2%17.0%87.8%6.4%
3Y Excs Rtn11.9%-35.1%-47.1%-26.7%11.9%325.7%-7.4%

Comparison Analyses

Financials

$ Mil | FY: 12/312025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q42022Q3
Period End7/1/20254/1/202512/31/202410/1/20247/2/20244/2/20241/2/202410/3/20237/4/20234/4/20231/3/20239/27/2022
Filing Date8/4/20255/5/20252/24/202511/4/20248/5/20245/8/20242/26/202411/6/20238/7/20235/10/20232/27/202311/2/2022
Key Financials Quarterly            
Total Revenue956927921865904891877830866866893784
Ebitda926376598465344271571220
Operating Income75616938674853275440343
Net Income55334130523313184328-3-2
EPS1.180.690.860.631.100.700.270.370.880.58-0.07-0.05
Key Financials TTM            
Total Revenue TTM3,6693,6183,5823,5383,5023,4653,4403,4553,4093,3763,3033,187
Ebitda TTM290282284242225211203181160140133145
Operating Income TTM24323522220719618317515613211010196
Net Income TTM1591571571281161061018565484349
Growth Rates Quarterly            
Total Revenue Growth5.7%4.0%5.0%4.2%4.4%2.9%-1.8%5.9%4.0%9.1%14.9%3.9%
EBITDA Growth9.4%-3.3%124.8%40.9%18.7%14.4%182.8%104.8%40.1%14.2%-49.9%-62.1%
Operating Income Growth12.7%27.0%28.7%40.5%23.1%19.7%56.0%750.3%69.4%29.6%16.5%-90.9%
Net Income Growth4.5%-0.8%224.5%67.1%22.9%18.3%484.5%848.3%66.3%21.1%-256.3%-107.3%
Margins Quarterly            
EBITDA Margin9.6%6.8%8.2%6.8%9.3%7.3%3.8%5.0%8.2%6.6%1.3%2.6%
Operating Income Margin7.9%6.6%7.5%4.4%7.4%5.4%6.1%3.3%6.2%4.7%3.8%0.4%
Net Income Margin5.7%3.6%4.5%3.5%5.8%3.7%1.4%2.2%4.9%3.2%-0.4%-0.3%
Cash & Debt            
Total Cash14913584524160566492116115133
Total Debt2,1002,1021,9081,8881,8801,8611,8601,8611,8401,8271,8411,830
Net Debt / (Cash)1,9511,9671,8241,8361,8391,8011,8041,7971,7491,7111,7261,697
Cash Flows Quarterly            
FCF from Operations577994802867684936656311
Cash Flows TTM            
FCF from Operations TTM310280268242211220218214176193162193
Returns to Shareholders Quarterly            
Dividends141213131413131314131414
Share Repurchases01411141210159122227
Return on Invested Capital (ROIC) Quarterly            
ROIC13.6%11.9%13.7%7.9%13.5%9.5%11.8%6.1%11.7%8.3%1.5%0.5%
Return on Invested Capital (ROIC) TTM            
ROIC TTM11.4%11.1%11.2%11.0%10.6%10.2%9.7%8.7%7.5%6.4%5.8%5.5%

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
The Cheesecake Factory restaurants2,5952,528 1,5852,181
Other322309 199227
Other Fox Restaurant Concepts LLC (FRC)264238 9739
North Italia259229 10335
Total3,4403,303 1,9832,483


Operating Income by Segment
$ Mil20242023202220212020
The Cheesecake Factory restaurants297221 46258
Other Fox Restaurant Concepts LLC (FRC)1924 -775
North Italia1914 -772
Other-226-219 -239-162
Total10939 -347104


Assets by Segment
$ Mil20242023202220212020
The Cheesecake Factory restaurants1,5721,6251,6531,6721,701
Other523542599496531
Other Fox Restaurant Concepts LLC (FRC)399302276309310
North Italia347307270270298
Total2,8402,7752,7982,7472,841


Price Behavior

CAKE Betas & Captures as of 8/31/2025

 1M2M3M6M1Y3Y
Beta0.931.321.271.001.001.04
Up Beta0.551.271.120.850.881.13
Down Beta1.191.892.050.991.090.91
Up Capture62%74%115%132%142%127%
Bmk +ve Days10223571142415
Stock +ve Days11233871131370
Down Capture156%176%109%112%94%100%
Bmk -ve Days11192754106334
Stock -ve Days10192555117376

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date8292025
Short Interest: Shares Quantity8,667,176
Short Interest: % Change Since 8152025-1.7%
Average Daily Volume1,046,486
Days-to-Cover Short Interest8.28
Basic Shares Quantity46,391,000
Short % of Basic Shares18.7%

Returns Analyses

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/29/20255.2%-2.0%-1.6%
4/30/2025-4.4%-0.5%10.1%
2/19/20251.3%-1.2%-10.1%
10/29/20248.8%9.0%16.7%
7/31/2024-5.2%-11.1%1.8%
5/8/20246.2%20.7%15.0%
2/21/20243.2%2.9%3.7%
11/1/2023-2.0%-1.6%7.5%
...
SUMMARY STATS   
# Positive131214
# Negative111210
Median Positive3.4%5.8%8.8%
Median Negative-4.4%-1.8%-9.7%
Max Positive8.8%20.7%34.3%
Max Negative-13.2%-20.8%-49.2%

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025804202510-Q 7/1/2025
3312025505202510-Q 4/1/2025
12312024224202510-K 12/31/2024
93020241104202410-Q 10/1/2024
6302024805202410-Q 7/2/2024
3312024508202410-Q 4/2/2024
12312023226202410-K 1/2/2024
93020231106202310-Q 10/3/2023
6302023807202310-Q 7/4/2023
3312023510202310-Q 4/4/2023
12312022227202310-K 1/3/2023
93020221102202210-Q 9/27/2022
6302022801202210-Q 6/28/2022
3312022502202210-Q 3/29/2022
12312021222202210-K 12/28/2021
93020211104202110-Q 9/28/2021

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value		Value of
Held Shares		Form
0Clark Matthew EliotEXEC VP, CFO2282025Sell53.6710,000536,7122,139,119Form
1Carango KeithPRESIDENT (SUBSIDIARY)11082024Sell49.8911,746586,043814,553Form

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