Filing Flows › Shake Shack (SHAK) › Q3 2026 › vs Q3 2025
Shake Shack (SHAK) Q3 2026 vs Q3 2025 (year over year)
Shake Shack's revenue rose $55.9M (+15%) from $367M in Q3 2025 to $423M in Q3 2026. The biggest changes: Shack sales +$55.2M (+16%); Licensing revenue +$682K (+5%). Operating margin 5.1% against 5.0% (+0.0 pts).
Shake Shack, Q3 2026: revenue $423M (+15% year over year), operating margin 5.1%, net earnings $16.5M, operating cash flow $70.6M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 5.1% | 5.0% | +0.0 pts |
| Net margin | 3.9% | 3.4% | +0.5 pts |
| Free cash flow margin | 3.1% | 6.5% | -3.4 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Shack sales | $408M | $353M | $55.2M | +16% |
| Licensing revenue | $15.2M | $14.6M | $682K | +5% |
| Revenue | $423M | $367M | $55.9M | +15% |
| Other income, net | $1.9M | $2.6M | −$707K | -27% |
| Operating profit | $21.5M | $18.5M | $2.9M | +16% |
| Costs & expenses | $402M | $349M | $52.9M | +15% |
| Pre-tax earnings | $23.4M | $21.1M | $2.2M | +11% |
| General & admin | $45.0M | $44.4M | $608K | +1% |
| Other operating costs | $357M | $304M | $52.3M | +17% |
| Net earnings | $16.5M | $12.5M | $4.0M | +32% |
| Minority interests | $1.3M | $1.2M | $71K | +6% |
| Income tax | $5.6M | $7.4M | −$1.8M | -25% |
| Depreciation & amortization | $32.9M | $27.1M | $5.9M | +22% |
| Share-based compensation | $5.0M | $4.4M | $572K | +13% |
| Working capital & other | $16.2M | $19.0M | −$2.8M | -15% |
| Operating cash flow | $70.6M | $63.0M | $7.6M | +12% |
| Free cash flow (OCF − capex) | $13.1M | $23.7M | −$10.7M | -45% |
| Capital expenditures | $57.5M | $39.3M | $18.2M | +46% |
Questions
How much did Shake Shack's revenue grow year over year in Q3 2026?
Shake Shack's revenue rose $55.9M (+15%) from $367M in Q3 2025 to $423M in Q3 2026.
What drove Shake Shack's revenue change in Q3 2026?
Shack sales +$55.2M (+16%); Licensing revenue +$682K (+5%).