Filing Flows › Cheesecake Factory (CAKE) › Q1 2026
Cheesecake Factory (CAKE) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 4, 2026
Cheesecake Factory (CAKE) reported revenue of $979M for the first quarter 2026 (Q1 2026), +6% from a year earlier and +2% from the quarter before. Operating margin was 5.6%, net earnings $49.5M (5.1% of revenue).
Cheesecake Factory, Q1 2026: revenue $979M (+6% year over year), operating margin 5.6%, net earnings $49.5M, operating cash flow $96.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $979M | +2% | +6% |
| Operating profit | $55.0M | +66% | +6% |
| Net earnings | $49.5M | +72% | +50% |
| Operating cash flow | $96.7M | +29% | +23% |
| Free cash flow | $53.3M | +7% | +48% |
What changed
Revenue was $978.8M in Q1 2026, up 6% year over year and up 2% from the previous quarter. The Cheesecake Factory restaurants was the largest line at 71% of revenue. The Cheesecake Factory restaurants added $17.7M year over year (up 3%), 34% of the total change.
Operating profit was $55.0M, a 5.6% margin (unchanged year over year). Of the extra revenue versus Q1 2025, 6% reached operating profit, above the 6% margin then. Total costs grew 6% against revenue growth of 6%. Net earnings were $49.5M, up 50% year over year. The effective tax rate was 7.1%.
Operating cash flow was $96.7M (up 23% year over year), 195% of net earnings. Non-cash charges added back $28.0M of depreciation and amortization and $7.0M of share-based compensation. Working capital and other items added $12.2M. Capital expenditures of $43.4M left free cash flow of $53.3M.
Questions
What was Cheesecake Factory's revenue in the first quarter 2026?
Cheesecake Factory (CAKE) reported revenue of $979M for the first quarter 2026 (Q1 2026), +6% from a year earlier and +2% from the quarter before.
Was Cheesecake Factory profitable in the first quarter 2026?
Operating profit was $55.0M (5.6% of revenue) and net earnings $49.5M.
Source: Cheesecake Factory 10-Q on SEC EDGAR.