Filing Flows › Cheesecake Factory (CAKE) › Q3 2025
Cheesecake Factory (CAKE) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 3, 2025
Cheesecake Factory (CAKE) reported revenue of $907M for the third quarter 2025 (Q3 2025), +5% from a year earlier and -5% from the quarter before. Operating margin was 4.1%, net earnings $31.9M (3.5% of revenue).
Cheesecake Factory, Q3 2025: revenue $907M (+5% year over year), operating margin 4.1%, net earnings $31.9M, operating cash flow $90.6M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $907M | -5% | +5% |
| Operating profit | $37.3M | -43% | +11% |
| Net earnings | $31.9M | -42% | +6% |
| Operating cash flow | $90.6M | +59% | +13% |
| Free cash flow | $53.9M | +253% | +110% |
What changed
Revenue was $907.2M in Q3 2025, up 5% year over year and down 5% from the previous quarter. The Cheesecake Factory restaurants was the largest line at 72% of revenue. Other added $15.5M year over year (up 20%), 37% of the total change.
Operating profit was $37.3M, a 4.1% margin (up 0.2 points year over year). Of the extra revenue versus a year earlier, 9% reached operating profit, above the 4% margin then. Total costs grew 5% against revenue growth of 5%. Net earnings were $31.9M, up 6% year over year. The effective tax rate was 10.1%.
Operating cash flow was $90.6M (up 13% year over year), 284% of net earnings. Non-cash charges added back $27.4M of depreciation and amortization and $5.7M of share-based compensation. Working capital and other items added $25.6M. Capital expenditures of $36.7M left free cash flow of $53.9M.
Questions
What was Cheesecake Factory's revenue in the third quarter 2025?
Cheesecake Factory (CAKE) reported revenue of $907M for the third quarter 2025 (Q3 2025), +5% from a year earlier and -5% from the quarter before.
Was Cheesecake Factory profitable in the third quarter 2025?
Operating profit was $37.3M (4.1% of revenue) and net earnings $31.9M.
Source: Cheesecake Factory 10-Q on SEC EDGAR.