Shake Shack Inc Stock Research

Market Summary

USD65.40-0.50

Delayed

-0.76%

SHAK Stock Price

SHAK RSI Chart

SHAK Valuation

Market Cap

2.2B

Price/Earnings (Trailing)

-90.07

Price/Sales (Trailing)

2.41

EV/EBITDA

43.65

Price/Free Cashflow

-32.97

SHAK Price/Sales (Trailing)

SHAK Profitability

EBT Margin

-2.70%

Return on Equity

-6.1%

Return on Assets

-1.61%

Free Cashflow Yield

-3.03%

SHAK Fundamentals

SHAK Revenue

Revenue (TTM)

900.5M

Revenue Y/Y

17.35%

Revenue Q/Q

4.7%

SHAK Earnings

Earnings (TTM)

-24.1M

Earnings Y/Y

-10.14%

Earnings Q/Q

-429.5%

Price Action

52 Week Range

37.7271.94

(Low)(High)

Last 7 days

-1.9%

Last 30 days

22.2%

Last 90 days

15.7%

Trailing 12 Months

38.4%

SHAK Financial Health

Current Ratio

2.33

Debt/Equity

0.62

Debt/Cashflow

0.31

SHAK Investor Care

Shares Dilution (1Y)

0.35%

Diluted EPS (TTM)

-0.61

Peers (Alternatives to Shake Shack)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
MCD	212.6B	23.4B	-1.28%	17.90%	34.42	9.17	-1.47%	-3.33%
SBUX	113.2B	34.0B	-11.61%	35.24%	31.83	3.33	8.52%	-19.36%
CMG	57.2B	9.0B	3.04%	54.45%	55.41	6.37	14.78%	50.90%
YUM	39.0B	6.9B	-5.91%	11.32%	31.81	5.62	4.44%	-25.61%
DRI	19.6B	10.3B	8.59%	31.48%	20.64	1.9	10.91%	-8.76%
MID-CAP
ARMK	10.3B	17.7B	18.17%	18.56%	41.82	0.58	23.57%	68.31%
TXRH	7.4B	4.0B	2.10%	39.70%	27.46	1.85	15.91%	10.00%
WING	6.0B	390.0M	0.69%	166.04%	100.38	15.43	35.42%	57.02%
WEN	4.7B	2.1B	1.51%	19.42%	26.14	2.2	10.92%	-8.47%
SHAK	2.2B	900.5M	22.15%	38.41%	-90.07	2.41	21.70%	-178.35%
SMALL-CAP
PLAY	1.6B	2.0B	-2.56%	-12.98%	11.69	0.82	50.64%	26.23%
BJRI	729.2M	1.3B	9.24%	19.93%	119.59	0.55	14.11%	512.76%
RUTH	686.3M	505.9M	39.36%	20.13%	17.77	1.36	17.88%	-8.64%
CHUY	658.4M	434.2M	7.07%	64.09%	27.94	1.52	6.10%	-18.87%
DENN	647.9M	470.8M	7.99%	13.76%	12.12	1.38	11.91%	-30.35%

Financials for Shake Shack

Income Statement (Last 12 Months)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	4.1%	900,486,000	865,213,000	831,294,000	788,002,000	739,893,000
Operating Expenses	3.9%	927,380,000	892,286,000	856,187,000	808,769,000	755,746,000
S&GA Expenses	5.5%	118,790,000	112,601,000	106,460,000	97,751,000	85,996,000
EBITDA	14.2%	50,029,000	43,795,000	41,047,000	41,128,000	43,233,000
EBITDA Margin	9.8%	0.06	0.05	0.05	0.05	0.06
Earnings Before Taxes	9.7%	-24,285,000	-26,902,000	-26,061,000	-22,409,000	-17,335,000
EBT Margin	13.3%	-0.03	-0.03	-0.03	-0.03	-0.02
Interest Expenses	1.3%	1,518,000	1,498,000	1,373,000	1,417,000	1,577,000
Net Income	-4.3%	-24,091,000	-23,104,000	-23,258,000	-20,126,000	-8,655,000
Net Income Margin	-0.2%	-0.03	-0.03	-0.03	-0.03	-0.01
Free Cahsflow	-12.6%	-65,818,000	-58,445,000	-55,495,000	-49,894,000	-43,093,000

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	-0.5%	1,495	1,502	1,480	1,450	1,458
Current Assets	-6.3%	344	367	388	387	410
Cash Equivalents	-10.3%	231	257	278	279	302
Inventory	4.7%	4.00	4.00	4.00	4.00	4.00
Net PPE	5.7%	467	442	411	399	389
Liabilities	0.1%	1,075	1,074	1,052	1,024	1,022
Current Liabilities	2.2%	148	145	134	126	121
Long Term Debt	0.1%	245	244	244	244	244
Shareholder's Equity	-2.1%	395	403	428	425	410
Retained Earnings	-109.1%	-20.54	-9.82	-7.80	-6.61	4.00
Additional Paid-In Capital	0.6%	416	413	411	407	406
Accumulated Depreciation	6.9%	272	254	237	223	-
Shares Outstanding	0.1%	39.00	39.00	39.00	-	-
Minority Interest	-0.5%	25.00	25.00	25.00	25.00	26.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	11.2%	77.00	69.00	57.00	56.00	58.00
Share Based Compensation	3.3%	13.00	13.00	12.00	10.00	9.00
Cashflow From Investing	-12.1%	-143	-127	-112	-145	-144
Cashflow From Financing	5.2%	-5.20	-5.48	-5.95	-6.45	242

Risks for SHAK

What is the probability of a big loss on SHAK?

90%

Probability that Shake Shack stock will be more than 20% underwater in next one year

85%

Probability that Shake Shack stock will be more than 30% underwater in next one year.

55.8%

Probability that Shake Shack stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does SHAK drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Shake Shack was unfortunately bought at previous high price.

Drawdowns

Returns for SHAK

Cumulative Returns on SHAK

8.1%

7-Year Cumulative Returns

2.3%

5-Year Cumulative Returns

6.9%

3-Year Cumulative Returns

What are the long-term rolling returns for SHAK?

FIve years rolling returns for Shake Shack.

Annualized Returns

Which funds bought or sold SHAK recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-05-23	Brookfield Corp /ON/	new	-	472,886	472,886	-%
2023-05-23	Capital Impact Advisors, LLC	unchanged	-	160,693	638,745	0.78%
2023-05-22	Raleigh Capital Management Inc.	unchanged	-	699	2,775	-%
2023-05-22	PUTNAM INVESTMENTS LLC	reduced	-7.95	96,180	10,241,200	0.02%
2023-05-22	AMERIPRISE FINANCIAL INC	reduced	-4.07	1,842,240	8,399,240	-%
2023-05-18	NEW YORK STATE COMMON RETIREMENT FUND	reduced	-19.81	105,000	1,572,000	-%
2023-05-18	JPMORGAN CHASE & CO	reduced	-44.51	-923,504	2,651,500	-%
2023-05-17	Thrivent Financial for Lutherans	reduced	-3.39	462,000	2,052,000	-%
2023-05-17	Westside Investment Management, Inc.	unchanged	-	16,635	16,647	-%
2023-05-16	Hudson Bay Capital Management LP	new	-	3,641,590	3,641,590	0.02%

Latest Funds Activity

Are funds buying SHAK calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own SHAK

No. of Funds

Shake Shack News

Schedule 13G FIlings of Shake Shack

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Mar 13, 2023	alger associates inc	0.7%	263,811	SC 13G/A
Feb 14, 2023	gilder gagnon howe & co llc	4.1%	1,616,128	SC 13G/A
Feb 14, 2023	alger associates inc	6.0%	2,370,170	SC 13G/A
Feb 09, 2023	vanguard group inc	10.47%	4,114,443	SC 13G/A
Jan 27, 2023	blackrock inc.	15.8%	6,204,596	SC 13G/A
Jan 23, 2023	blackrock inc.	15.8%	6,204,596	SC 13G/A
May 10, 2022	alger associates inc	10.4%	4,081,160	SC 13G/A
Mar 11, 2022	blackrock inc.	17.0%	6,662,315	SC 13G/A
Feb 14, 2022	select equity group, l.p.	0%	0	SC 13G/A
Feb 14, 2022	alger associates inc	9.3%	3,640,306	SC 13G/A

SHAK Fair Value

Recent SEC filings of Shake Shack

View All Filings

Date Filed	Form Type	Document
May 25, 2023	4	Insider Trading
May 19, 2023	DEFA14A	DEFA14A
May 19, 2023	DEF 14A	DEF 14A
May 19, 2023	ARS	ARS
May 16, 2023	8-K	Current Report
May 16, 2023	3	Insider Trading
May 05, 2023	10-Q	Quarterly Report
May 04, 2023	8-K	Current Report
Apr 27, 2023	10-K/A	Annual Report
Mar 17, 2023	4	Insider Trading

Latest Insider Trading transactions for SHAK

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-15	Koff Zach	sold (taxes)	-29,399	55.47	-530	chief operating officer
2023-03-02	Koff Zach	sold (taxes)	-18,084	57.23	-316	chief operating officer
2023-03-01	Fogertey Katherine Irene	sold (taxes)	-56,271	57.07	-986	chief financial officer
2023-03-01	Koff Zach	sold (taxes)	-93,195	57.07	-1,633	chief operating officer
2023-03-01	GARUTTI RANDALL J	acquired	-	-	26,284	chief executive officer
2023-03-01	Koff Zach	acquired	-	-	10,076	chief operating officer
2023-03-01	Fogertey Katherine Irene	acquired	-	-	10,076	chief financial officer
2023-02-02	Koff Zach	sold	-300,000	60.00	-5,000	chief operating officer
2023-02-02	Flug Jeffrey	sold	-111,970	60.07	-1,864	-
2023-02-02	Koff Zach	acquired	105,000	21.00	5,000	chief operating officer

About Shake Shack

Randall Garutti

www.shakeshack.com

9700

Shake Shack Inc. owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of December 29, 2021, it operated 369 Shacks, including 218 domestic company-operated Shacks, 25 domestic licensed Shacks, and 126 international licensed Shacks. Shake Shack Inc. was founded in 2001 and is headquartered in New York, New York.

SHAK Income Statement

2023-03-29

CONDENSED CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 29, 2023	Mar. 30, 2022
TOTAL REVENUE	$ 253,278	$ 203,391
Shack-level operating expenses:
Food and paper costs	71,772	59,884
Labor and related expenses	74,264	60,465
Other operating expenses	34,936	30,171
Occupancy and related expenses	18,583	16,276
General and administrative expenses	31,311	31,386
Depreciation and amortization expense	21,322	16,855
Pre-opening costs	3,557	2,712
Impairment and loss on disposal of assets	722	577
TOTAL EXPENSES	256,467	218,326
LOSS FROM OPERATIONS	(3,189)	(14,935)
Total	2,837	(289)
Interest expense	(403)	(355)
LOSS BEFORE INCOME TAXES	(755)	(15,579)
Income tax expense (benefit)	867	(4,297)
NET LOSS	(1,622)	(11,282)
Reallocation of net income attributable to non-controlling interests from the assumed conversion of Class B shares	(88)	(1,120)
NET LOSS ATTRIBUTABLE TO SHAKE SHACK INC.	$ (1,534)	$ (10,162)
Loss per share of Class A common stock:
Basic (in dollars per share)	$ (0.04)	$ (0.26)
Diluted (in dollars per share)	$ (0.04)	$ (0.26)
Weighted average shares of Class A common stock outstanding:
Basic (in shares)	39,332	39,163
Diluted (in shares)	39,332	39,163
Shack sales
TOTAL REVENUE	$ 244,254	$ 196,791
Licensing revenue
TOTAL REVENUE	$ 9,024	$ 6,600

SHAK Balance Sheet

2023-03-29

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Mar. 29, 2023	Dec. 28, 2022
Current assets:
Cash and cash equivalents	$ 293,430	$ 230,521
Marketable securities	0	80,707
Accounts receivable, net	14,175	13,877
Inventories	4,394	4,184
Prepaid expenses and other current assets	18,075	14,699
Total current assets	330,074	343,988
Property and equipment, net of accumulated depreciation of $310,939 and $290,362, respectively	479,617	467,031
Operating lease assets	379,475	367,488
Deferred income taxes, net	301,538	300,538
Other assets	16,211	15,817
TOTAL ASSETS	1,506,915	1,494,862
Current liabilities:
Accounts payable	16,002	20,407
Accrued expenses	45,677	47,945
Accrued wages and related liabilities	18,678	17,576
Operating lease liabilities, current	44,578	42,238
Other current liabilities	18,117	19,552
Total current liabilities	143,052	147,718
Long-term debt	244,851	244,589
Long-term operating lease liabilities	441,554	427,227
Liabilities under tax receivable agreement, net of current portion	235,361	234,893
Other long-term liabilities	22,192	20,687
Total liabilities	1,087,010	1,075,114
Commitments and contingencies (Note 13)
Stockholders' equity:
Preferred stock, no par value—10,000,000 shares authorized; none issued and outstanding as of March 29, 2023 and December 28, 2022.	0	0
Additional paid-in capital	417,451	415,611
Accumulated deficit	(22,071)	(20,537)
Accumulated other comprehensive loss	(4)	0
Total stockholders' equity attributable to Shake Shack Inc.	395,418	395,116
Non-controlling interests	24,487	24,632
Total equity	419,905	419,748
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	1,506,915	1,494,862
Class A Common Stock
Stockholders' equity:
Common stock	39	39
Class B Common Stock
Stockholders' equity:
Common stock	$ 3	$ 3