Revenue: As of FY2025, the actual value is USD 3.752 B, beating the estimate of USD 3.739 B.EPS: As of FY2025, the actual value is USD 3.06, missing the estimate of USD 3.444.EBIT: As of FY2025, the actual value is USD 173.34 M.<h4>Overall Company Financial and Operational Metrics</h4><ul><li>Total Revenues: Total revenues increased by 4.7% to $3,751.8 million for fiscal 2025, compared to $3,581.7 million for fiscal 2024.</li><li>Net Income: Net income was $148,427 thousand for fiscal 2025, compared to $156,783 thousand for fiscal 2024. Adjusted net income was $182,961 thousand for fiscal 2025, compared to $168,679 thousand for fiscal 2024.</li><li>EBITDA: EBITDA was $282,374 thousand for fiscal 2025, compared to $282,604 thousand for fiscal 2024. Adjusted EBITDA was $353,542 thousand for fiscal 2025, compared to $328,642 thousand for fiscal 2024.</li><li>Income from Operations: Income from operations was 5.0% ($187,285 thousand) for fiscal 2025, compared to 5.0% ($178,317 thousand) for fiscal 2024.</li><li>Loss on Extinguishment of Debt: A loss of - $15.9 million was recorded on early debt extinguishment in fiscal 2025.</li><li>Operating Costs (as a percentage of revenues):<ul><li>Food and beverage costs were 21.7% for fiscal 2025, down from 22.5% for fiscal 2024.</li><li>Labor expenses were 35.0% for fiscal 2025, down from 35.3% for fiscal 2024.</li><li>Other operating costs and expenses were 27.0% for fiscal 2025, up from 26.7% for fiscal 2024.</li><li>General and administrative expenses were 6.5% for fiscal 2025, up from 6.4% for fiscal 2024.</li><li>Depreciation and amortization expenses were 2.9% for fiscal 2025, up from 2.8% for fiscal 2024.</li><li>Impairment of assets and lease termination expenses were 0.6% ($23.0 million) for fiscal 2025, compared to 0.4% ($13.6 million) for fiscal 2024.</li><li>Acquisition-related contingent consideration, compensation and amortization expenses were 0.4% ($14.4 million) for fiscal 2025, compared to 0.1% ($2.4 million) for fiscal 2024.</li><li>Preopening costs were 0.9% ($33.1 million) for fiscal 2025, compared to 0.8% ($27.5 million) for fiscal 2024.</li></ul></li><li>Cash Flow: Cash provided by operating activities increased by $33.0 million to $301.3 million for fiscal 2025, compared to $268.3 million for fiscal 2024. Capital expenditures were $146.2 million for fiscal 2025, compared to $160.4 million for fiscal 2024.</li><li>Other Key Metrics:<ul><li>The company owned and operated 368 restaurants as of February 23, 2026. 25 new restaurants were opened in fiscal 2025, compared to 23 in fiscal 2024.</li><li>Gift card breakage recognized was $24.5 million in fiscal 2025, compared to $7.3 million in fiscal 2024, with an additional $17.3 million recognized in fiscal 2025 due to a change in historical redemption patterns.</li><li>Accrued liabilities for self-insured plans totaled $77.3 million at December 30, 2025, compared to $73.6 million at December 31, 2024.</li></ul></li></ul><h4>The Cheesecake Factory Segment</h4><ul><li>Unit Count: Operated 216 locations as of February 23, 2026, with an additional 35 international licensed restaurants.</li><li>Sales Performance: Sales increased by 1.0% to $2,688.8 million for fiscal 2025, compared to $2,661.6 million for fiscal 2024. Average sales per restaurant operating week increased by 0.3% to $238,146 (excluding additional gift card breakage) for fiscal 2025, from $237,349 in fiscal 2024. Comparable sales increased by 0.1% for fiscal 2025, driven by a 2.4% increase in average check, partially offset by a -2.3% decrease in customer traffic.</li><li>Unique Metrics: Alcoholic beverage sales represented 11% of restaurant sales, off-premise sales comprised approximately 21%, and dessert sales represented approximately 17% of sales during fiscal 2025.</li><li>Operational Costs: Restaurant-level preopening costs for a typical location average approximately $1.0 million to $1.5 million.</li></ul><h4>North Italia Segment</h4><ul><li>Unit Count: Operated 48 locations as of February 23, 2026.</li><li>Sales Performance: Sales increased by 15.5% to $345.9 million for fiscal 2025, compared to $299.6 million for fiscal 2024. Average sales per restaurant operating week decreased by -0.9% to $146,877 for fiscal 2025, from $148,231 in fiscal 2024. Comparable sales decreased by approximately -2% for fiscal 2025, driven by a -5% decrease in customer traffic, partially offset by a 3% increase in average check.</li><li>Unique Metrics: Alcoholic beverage sales represented 23% of North Italia sales, and off-premise sales comprised approximately 13% of restaurant sales during fiscal 2025. Average check per customer was approximately $35.60 for lunch and $45.21 for dinner in fiscal 2025.</li><li>Operational Costs: Restaurant-level preopening costs for a typical location average approximately $0.6 million to $0.8 million.</li></ul><h4>Flower Child Segment</h4><ul><li>Unit Count: Operated 43 locations as of February 23, 2026.</li><li>Sales Performance: Sales increased by 27.8% to $185.3 million for fiscal 2025, compared to $145.0 million for fiscal 2024. Average sales per restaurant operating week increased by 4.0% to $87,684 for fiscal 2025, from $84,351 in fiscal 2024. Comparable sales increased by approximately 5% for fiscal 2025, including a 3% increase in menu pricing.</li><li>Unique Metrics: Off-premise sales comprised approximately 55% of restaurant sales during fiscal 2025.</li></ul><h4>Other Fox Restaurant Concepts (“Other FRC”) Segment</h4><ul><li>Unit Count: Operated 55 locations as of February 23, 2026.</li><li>Sales Performance: Sales increased by 18.4% to $355.1 million for fiscal 2025, compared to $300.0 million for fiscal 2024. Average sales per restaurant operating week increased by 0.2% to $132,733 for fiscal 2025, from $132,495 in fiscal 2024.</li></ul><h4>Outlook/Guidance</h4>The Cheesecake Factory Incorporated plans to open as many as 26 new restaurants in fiscal 2026 across its portfolio, with approximately one-third anticipated in the first half of the fiscal year. Capital expenditures are expected to be approximately $210 million to support this unit development and required maintenance. The company is implementing an approximate 1.5% menu price increase in the first quarter of fiscal 2026 for The Cheesecake Factory segment.

Cheesecake Factory | 10-K: FY2025 Revenue Beats Estimate at USD 3.752 B