"In 2024, we generated record high annual revenues and adjusted earnings per share, while also opening more new restaurants in a single year than ever before in our company's history."
— David Overton, CEO
03Detailed Report
CAKE
The Cheesecake Factory Incorporated
Period
Q4 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedJun 20, 2026
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Executive Summary
The Cheesecake Factory Incorporated (CAKE) delivered a strong performance in Q4 2024, with total revenues reaching $921 million, representing a year-over-year increase of 1.87%. The company's comparable sales grew 1.7%, outperforming the industry average, driven by successful menu innovations and effective operational management. Notably, the restaurant-level margins reached a seven-year high of 18.4%, demonstrating the company's commitment to operational efficiency and guest satisfaction. Management expressed confidence in sustaining growth momentum, with plans to open 25 new restaurants in 2025. Amidst a competitive landscape, CAKE continues to leverage its strong brand identity and customer base to drive sales and profitability further.
Key Performance Indicators
Revenue
Increasing
920.96M
QoQ: 6.41% | YoY: 1.87%
Gross Profit
Increasing
399.96M
43.43% margin
QoQ: 323.44% | YoY: 230.52%
Operating Income
Decreasing
46.63M
QoQ: 38.37% | YoY: -30.01%
Net Income
Decreasing
41.15M
QoQ: 37.21% | YoY: -21.53%
EPS
Decreasing
0.86
QoQ: 36.51% | YoY: -21.82%
Revenue Trend
Margin Analysis
Financial Highlights
1. Revenue: $921 million (YoY: +1.87%, QoQ: +6.41%)
2. Net Income: $41.154 million (YoY: -21.53%, QoQ: +37.21%)
3. EPS: $0.86 (YoY: -21.82%, QoQ: +36.51%)
4. Gross Profit Margin: 43.4%
5. Operating Margin: 5.06%
6. Cash at end of period: $84.176 million
7. Total Debt: $1.908 billion
8. Free Cash Flow: $53.933 million
9. Return on Equity: 9.28%
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
920.96M
1.87%
6.41%
Gross Profit
399.96M
230.52%
323.44%
Operating Income
46.63M
-30.01%
38.37%
Net Income
41.15M
-21.53%
37.21%
EPS
0.86
-21.82%
36.51%
Key Financial Ratios
Gross Profit Margin
Good
43.40%
Gross profit margin is healthy and competitive within industry standards
Operating Profit Margin
Fair
5.06%
Operating margin is moderate, room for improvement in cost management
Net Profit Margin
Fair
4.47%
Net profit margin is moderate, room for improvement in cost management
Return on Assets
Weak
1.35%
Return on assets suggests inefficient capital allocation
Return on Equity
Fair
9.28%
Return on equity is acceptable but below top-tier companies
Current Ratio
Concern
0.47
Current ratio below safe levels, potential liquidity risk
Debt to Equity
High Risk
4.30
Debt-to-equity indicates high leverage and elevated financial risk
P/E Ratio
Value
13.77x
P/E ratio suggests potential undervaluation or stable earnings
Price to Book
Premium
5.11x
Trading at premium to book value, reflects strong intangibles or growth
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