Filing Flows › Cheesecake Factory (CAKE) › Q2 2025
Cheesecake Factory (CAKE) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 4, 2025
Cheesecake Factory (CAKE) reported revenue of $956M for the second quarter 2025 (Q2 2025), +6% from a year earlier and +3% from the quarter before. Operating margin was 6.8%, net earnings $54.8M (5.7% of revenue).
Cheesecake Factory, Q2 2025: revenue $956M (+6% year over year), operating margin 6.8%, net earnings $54.8M, operating cash flow $56.8M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $956M | +3% | +6% |
| Operating profit | $64.8M | +25% | +10% |
| Net earnings | $54.8M | +66% | +5% |
| Operating cash flow | $56.8M | -28% | +105% |
| Free cash flow | $15.3M | -58% | — |
What changed
Revenue was $955.8M in Q2 2025, up 6% year over year and up 3% from the previous quarter. The Cheesecake Factory restaurants was the largest line at 71% of revenue. Other FRC added $16.5M year over year (up 22%), 32% of the total change.
Operating profit was $64.8M, a 6.8% margin (up 0.3 points year over year). Of the extra revenue versus a year earlier, 12% reached operating profit, above the 6% margin then. Total costs grew 5% against revenue growth of 6%. Net earnings were $54.8M, up 5% year over year. The effective tax rate was 11.9%.
Operating cash flow was $56.8M (up 105% year over year), 104% of net earnings. Non-cash charges added back $26.9M of depreciation and amortization and $7.2M of share-based compensation. Working capital and other items used $32.0M. Capital expenditures of $41.5M left free cash flow of $15.3M.
Questions
What was Cheesecake Factory's revenue in the second quarter 2025?
Cheesecake Factory (CAKE) reported revenue of $956M for the second quarter 2025 (Q2 2025), +6% from a year earlier and +3% from the quarter before.
Was Cheesecake Factory profitable in the second quarter 2025?
Operating profit was $64.8M (6.8% of revenue) and net earnings $54.8M.
Source: Cheesecake Factory 10-Q on SEC EDGAR.