Short answer
CHEESECAKE FACTORY INC (CAKE) filed its fiscal 2025 10-K annual report with the SEC on Feb 23, 2026. It reported revenue of $3.8B (+4.7% year over year) and net income of $148M.
- Top risk flagged: Interest rate risk on Revolver Facility borrowings, potential $1.1 million annual interest expense increase from 1% rate rise
FY2025 key financial metrics · XBRL
- Revenue
- $3.8B
- +4.7% YoY
- Net income
- $148M
- −5.3% YoY
- Operating margin
- 5.0%
- +0.0 pp YoY
- EPS (diluted)
- $3.06
- −4.4% YoY
- ROE
- 34.0%
- −1.3 pp YoY
- Operating cash flow
- $301M
- +12.3% YoY
Source: XBRL data from the CHEESECAKE FACTORY INC (CAKE) FY2025 10-K on SEC EDGAR. USD.
CHEESECAKE FACTORY INC FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Operates experiential dining restaurants including The Cheesecake Factory, North Italia, Flower Child, and Fox Restaurant Concepts in US and Canada
- New emphasis: Recorded $23.0 million impairment expenses mainly on North Italia, Grand Lux Cafe, and Other FRC locations, reflecting strategic portfolio review
- Strategic shift: Focus on optimizing brand mix by closing or relocating underperforming restaurants and addressing lease terminations
- Quantitative highlights: Long-lived assets and lease assets increased to $869.7M and $1.44B, respectively; net income $148.4M vs $156.8M in prior year
- Noteworthy fact: Significant increase in cash and equivalents to $215.7M from $84.2M, driven by improved operating cash flow of $301.3M in fiscal 2025
Management Discussion & Analysis
- Commodity and wage inflation returned to historical levels in fiscal 2024 after recent volatility
- No hedging contracts in place as of fiscal 2025 year-end for managing commodity cost risk
- 1% hypothetical food cost increase impacts food and beverage costs by $8.1 million in fiscal 2025 and 2024
- Supply risks from geopolitical events, weather, and international factors remain significant risks
- Management negotiating contracts for key commodities in fiscal 2026 but success not guaranteed
Risk Factors
- Interest rate risk on Revolver Facility borrowings, potential $1.1 million annual interest expense increase from 1% rate rise
- Market risk from variable life insurance investments affecting net income by $3.2 million decline with 10% asset value drop
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