Filing Flows

Filing Flows › Companies › Cheesecake Factory › Cash flow

Cheesecake Factory cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$66.9M in Q3 2026 · $219M over twelve months

Operating cash flow$125M
Capital spending−$57.9M
Free cash flow+$66.9M
Cash / net income2.0×

Analysis

In Q3 2026, Cheesecake Factory generated $125M of operating cash flow and spent $57.9M on capital projects, leaving free cash flow of $66.9M.

Over the twelve months to Sep 29, 2026, operating cash flow was $389M; the largest uses were capital spending ($169M), net borrowing (+) / repaid (−) ($69.0M), dividends ($56.9M); besides operations, cash came from shares issued ($11.3M); the cash balance rose by $59.3M.

Operating cash flow was $125M against net income of $61.3M — 2.0× profit, cash ran ahead of reported earnings. The largest differences: accrued liabilities +$40.8M, depreciation & amortization +$29.2M, stock-based pay +$7.0M.

Free cash flow

Cheesecake Factory: free cash flow by quarterCheesecake Factory: free cash flow by quarter$54.1MQ4 2024$36.1MQ1 2025$15.3MQ2 2025$53.9MQ3 2025$49.8MQ4 2025$53.3MQ1 2026$49.3MQ2 2026$66.9MQ3 2026
Operating cash flow less capital spending.
Cheesecake Factory: operating cash flow against capital spendingCheesecake Factory: operating cash flow against capital spendingOperating cash flowCapital spending$94.0M$39.9MQ4 2024$78.9M$42.8MQ1 2025$56.8M$41.5MQ2 2025$90.6M$36.7MQ3 2025$74.9M$25.2MQ4 2025$96.7M$43.4MQ1 2026$92.2M$42.9MQ2 2026$125M$57.9MQ3 2026
Latest (Q3 2026): Operating cash flow $125M, Capital spending $57.9M.

Capital allocation, year by year

Cheesecake Factory: where the cash came from (up) and went (down), by fiscal yearCheesecake Factory: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingBuybacksDividendsFY2021: Operating cash flow $213MFY2021: Net borrowing $195MFY2021: Shares issued −$244MFY2021: Capital spending −$66.9MFY2021: Buybacks −$5.8MFY2021: Dividends −$337K$408MFY2021FY2023: Operating cash flow $162MFY2023: Shares issued $84KFY2023: Capital spending −$112MFY2023: Buybacks −$63.1MFY2023: Dividends −$42.3M$162MFY2023FY2024: Operating cash flow $218MFY2024: Capital spending −$152MFY2024: Buybacks −$46.1MFY2024: Dividends −$53.2M$218MFY2024FY2024: Operating cash flow $268MFY2024: Net borrowing −$20.0MFY2024: Shares issued $12.5MFY2024: Capital spending −$160MFY2024: Buybacks −$18.2MFY2024: Dividends −$53.0M$281MFY2024FY2025: Operating cash flow $301MFY2025: Net borrowing $175MFY2025: Shares issued $24.6MFY2025: Capital spending −$146MFY2025: Buybacks −$154MFY2025: Dividends −$52.2M$501MFY2025
Over these 5 years operating cash flow totalled $1.2B; the largest uses were capital spending ($638M) and buybacks ($287M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$249M
Debt$1.1B
Net debt$877M
Due within a year$564M

Cheesecake Factory funds itself: free cash flow was $219M over the last twelve months, and $249M of cash and investments stands against $1.1B of debt ($564M due within a year, 0.4× covered by cash).

Where the cash came from and went

Cheesecake Factory: sources (+) and uses (−) of cash, Q3 2026Cheesecake Factory: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$125MCapital spending−$57.9MCash drawn (+) / kept (−)−$54.1MDividends−$14.2MShares issued$4.0MBuybacks−$2.4MOther investing−$201KNot reconciled$71K
Cheesecake Factory: sources (+) and uses (−) of cash, TTM to Q3 2026Cheesecake Factory: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$389MCapital spending−$169MNet borrowing (+) / repaid (−)−$69.0MCash drawn (+) / kept (−)−$59.3MDividends−$56.9MBuybacks−$43.0MShares issued$11.3MOther financing−$1.4MOther investing−$939KNot reconciled−$82K

From profit to cash

Cheesecake Factory: net income to operating cash flow, Q3 2026Cheesecake Factory: net income to operating cash flow, Q3 2026Net income$61.3MDepreciation & amortization$29.2MStock-based pay$7.0MDeferred taxes$5.6MReceivables$3.4MInventory−$1.4MPayables−$5.1MAccrued liabilities$40.8MPrepaid and other assets$662KIncome taxes payable−$2.6MOperating cash flow$125M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$125M−$57.9M−$2.4M−$14.2M—$4.0M−$54.1M$66.9M
Q2 2026$92.2M−$42.9M−$11.0M−$15.7M—$7.0M$39.9M$49.3M
Q1 2026$96.7M−$43.4M−$18.4M−$14.2M—$241K−$19.4M$53.3M
Q4 2025$74.9M−$25.2M−$11.2M−$12.8M——−$25.8M$49.8M
Q3 2025$90.6M−$36.7M−$1.2M−$12.6M—$1.6M−$41.2M$53.9M
Q2 2025$56.8M−$41.5M−$131K−$14.3M—$12.2M−$13.4M$15.3M
Q1 2025$78.9M−$42.8M−$141M−$12.5M$175M$10.8M−$51.2M$36.1M
Q4 2024$94.0M−$39.9M−$763K−$13.2M——−$32.0M$54.1M

Cheesecake Factory: income statement and cash flow

Cheesecake Factory, Q3 2026: revenue $1.0B (+14% year over year), operating margin 7.2%. The chart follows the revenue to costs, profit and cash.

Cheesecake Factory: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.