Shake Shack Inc. (SHAK) Financial Statements (2024 and earlier)

Company Profile

Business Address 225 VARICK STREET
NEW YORK, NY 10014
State of Incorp.
Fiscal Year End December 31
Industry (SIC) 581 - Eating And Drinking Places (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments293,214311,228382,406183,76073,60786,863
Cash and cash equivalents224,653230,521302,406146,87337,09924,750
Short-term investments68,56180,70780,00036,88736,50862,113
Receivables16,84713,87713,6579,4649,97010,523
Inventory, net of allowances, customer advances and progress billings5,4044,1843,8502,8882,2211,749
Inventory5,4044,1843,8502,8882,2211,749
Prepaid expense5,641     
Other undisclosed current assets13,32614,6999,7637,0741,8771,984
Total current assets:334,432343,988409,676203,18687,675101,119
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization     5,444
Operating lease, right-of-use asset398,296367,488347,277 274,426
Property, plant and equipment530,995467,031389,386 314,862261,854
Intangible assets, net (including goodwill)     1,437 
Intangible assets, net (excluding goodwill)     1,437 
Deferred income tax assets326,208300,538298,668287,007 
Other noncurrent assets15,92615,81712,563 11,4885,026
Deferred tax assets, net242,533
Other undisclosed noncurrent assets    655,155272,936 
Total noncurrent assets:1,271,4251,150,8741,047,894942,162880,593509,413
TOTAL ASSETS:1,605,8571,494,8621,457,5701,145,348968,268610,532
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities77,01585,92871,47759,84849,89145,918
Employee-related liabilities17,57614,63810,44111,45110,652
Accounts payable22,27320,40719,94723,48714,30012,467
Accrued liabilities54,74247,94536,89225,92024,14022,799
Deferred revenue1,192969763608 
Debt     30,002 
Other liabilities17,10319,55214,50114,20019,49914,030
Other undisclosed current liabilities68,75741,26934,75635,049  
Total current liabilities:164,067147,718121,497109,70599,39259,948
Noncurrent Liabilities
Long-term debt and lease obligation  400,113343,736304,914 
Finance lease, liability     
Liabilities, other than long-term debt491,171447,91422,77324,46015,32868,388
Deferred revenue     
Contract with customer, liability10,026
Deferred rent credit      47,864
Other liabilities26,63820,68722,77324,46015,32810,498
Operating lease, liability464,533427,227400,113343,736304,914
Other undisclosed noncurrent liabilities481,249479,482477,587232,954226,649208,741
Total noncurrent liabilities:972,420927,396900,473601,150546,891277,129
Total liabilities:1,136,4871,075,1141,021,970710,855646,283337,077
Equity
Equity, attributable to parent, including:443,417395,116409,537407,321298,817226,075
Additional paid in capital426,601415,611405,940395,067244,410195,633
Accumulated other comprehensive income (loss)(3) 132 
Retained earnings (accumulated deficit)16,777(20,537)3,55412,20954,36730,404
Other undisclosed equity, attributable to parent424242423838
Equity, attributable to noncontrolling interest25,95324,63226,06327,17223,16847,380
Total equity:469,370419,748435,600434,493321,985273,455
TOTAL LIABILITIES AND EQUITY:1,605,8571,494,8621,457,5701,145,348968,268610,532

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues1,087,533900,486739,893522,867594,519459,310
Cost of revenue
(Cost of Goods and Services Sold)
     (168,176)(122,094)
Gross profit:1,087,533900,486739,893522,867426,343337,216
Operating expenses(1,081,612)(927,380)(755,746)(566,743)(568,834)(427,599)
Other undisclosed operating income     168,176122,094
Operating income (loss):5,921(26,894)(15,853)(43,876)25,68531,711
Nonoperating income (expense)12,7764,12795(786)2,2631,514
Other nonoperating income12,776  3591,2441,392
Interest and debt expense(1,717)(1,518)(1,577)(815)(434)(2,415)
Income (loss) from continuing operations before income taxes:16,980(24,285)(17,335)(45,477)27,51430,810
Income tax expense (benefit)4,010(1,682)7,224(57)(3,386)(8,862)
Income (loss) from continuing operations:20,990(25,967)(10,111)(45,534)24,12821,948
Income (loss) before gain (loss) on sale of properties:(10,111)(45,534)24,12821,948
Net income (loss):20,990(25,967)(10,111)(45,534)24,12821,948
Net income (loss) attributable to noncontrolling interest(726)1,8761,4563,376(4,301)(6,769)
Net income (loss) available to common stockholders, diluted:20,264(24,091)(8,655)(42,158)19,82715,179

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):20,990(25,967)(10,111)(45,534)24,12821,948
Other comprehensive income (loss) (3)(1)(2)1213
Comprehensive income (loss):20,987(25,968)(10,113)(45,533)24,13021,961
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(726)1,8761,4563,376(4,301)(6,772)
Comprehensive income (loss), net of tax, attributable to parent:20,261(24,092)(8,657)(42,157)19,82915,189

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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