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Cheesecake Factory (CAKE) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 2, 2026 · Cheesecake Factory (CAKE) Q3 2026 earnings results →
Q3 2026 Revenue up 14% year over year to $1.0B · 6¢ of every $1 of revenue kept as net profit · operating margin 7.2%
Cheesecake Factory made $1.0B in Q3 2026 (+14% Y/Y): The Cheesecake Factory restaurants $754M, Other $95.8M, North Italia $93.0M. Operating margin 7.2%, net earnings $61.3M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 2, 2026.
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What changed this quarter
Revenue was $1.0B in Q3 2026, up 14% year over year and roughly flat from the previous quarter. The Cheesecake Factory restaurants was the largest line at 73% of revenue. The Cheesecake Factory restaurants added $0.10B year over year (up 16%), 82% of the total change.
Operating profit was $0.07B, a 7.2% margin (up 3.1 points year over year). Of the extra revenue versus Q3 2025, 30% reached operating profit, above the 4% margin then. Total costs grew 10% against revenue growth of 14%. The fastest-growing cost line was General & admin (+13%). Net earnings were $0.06B, up 92% year over year. The effective tax rate was 16.5%.
Operating cash flow was $0.12B (up 38% year over year), 204% of net earnings. Non-cash charges added back $0.03B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.03B. Capital expenditures of $0.06B left free cash flow of $0.07B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 2, 2026 | $1.0B | +14% | 7.2% | $61.3M | $125M |
| Q2 2026 | 10-Q | Aug 3, 2026 | $1.0B | +8% | 7.6% | $68.4M | $92.2M |
| Q1 2026 | 10-Q | May 4, 2026 | $979M | +6% | 5.6% | $49.5M | $96.7M |
| Q4 2025 | 10-K | Feb 23, 2026 | $962M | +4% | 3.5% | $28.8M | $74.9M |
| Q3 2025 | 10-Q | Nov 3, 2025 | $907M | +5% | 4.1% | $31.9M | $90.6M |
| Q2 2025 | 10-Q | Aug 4, 2025 | $956M | +6% | 6.8% | $54.8M | $56.8M |
| Q1 2025 | 10-Q | May 5, 2025 | $927M | +4% | 5.6% | $32.9M | $78.9M |
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About Cheesecake Factory
The Cheesecake Factory Incorporated is a leader in experiential dining. We are culinary forward and relentlessly focused on hospitality. As of February 23, 2026, we owned and operated 368 restaurants throughout the United States and Canada under brands including The Cheesecake Factory ® (216 locations), North Italia ® (48 locations), Flower Child ® (43 locations) and additional brands within our Fox Restaurant Concepts (“Other FRC”) portfolio (55 locations). Internationally, 35 The Cheesecake Factory ® restaurants operate under licensing agreements. Our bakery division operates two facilities that produce quality cheesecakes and other baked products for our restaurants, international licensees and third-party bakery customers.
In its own words, from its 10-K, filed Feb 23, 2026.
Cheesecake Factory against its Retail-Eating Places peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +14% against the peers' median +8%. Operating margin: 7.2% against the peers' median 13.0%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| CAKE Cheesecake Factory | Q3 2026 | $1.0B | +14% | 7.2% |
| MCD McDonald's | Q3 2026 | $7.2B | +1% | 50.2% |
| ARMK Aramark | Q3 FY26 | $5.1B | +9% | 4.3% |
| YUMC Yum China Holdings | Q3 2026 | $3.5B | +8% | 13.0% |
| CMG Chipotle Mexican Grill | Q3 2026 | $3.3B | +10% | 13.7% |
| DRI Darden Restaurants | Q1 FY27 | $3.2B | +5% | 10.0% |
| QSR Restaurant Brands International | Q3 2026 | $2.5B | +3% | 27.6% |
| YUM Yum Brands | Q3 2026 | $2.1B | +4% | 112.8% |
| TXRH Texas Roadhouse | Q3 2026 | $1.6B | +10% | 6.5% |
Source: Cheesecake Factory 10-Q on SEC EDGAR · CIK 887596 · Retail-Eating Places
Guidance and outlook
13F: who owns CAKE and who is buying
More on CAKE
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Cheesecake Factory operating margin by quarter
- Cheesecake Factory net income by quarter
- Cheesecake Factory free cash flow by quarter
- Cheesecake Factory capital expenditures by quarter
- Cheesecake Factory The Cheesecake Factory restaurants revenue by quarter
- Cheesecake Factory North Italia revenue by quarter