--- title: "Cheesecake Factory | 8-K: FY2025 Q4 Revenue Beats Estimate at USD 961.56 M" type: "News" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/276274820.md" datetime: "2026-02-18T21:34:18.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/276274820.md) - [en](https://longbridge.com/en/news/276274820.md) - [zh-HK](https://longbridge.com/zh-HK/news/276274820.md) --- > 支持的语言: [English](https://longbridge.com/en/news/276274820.md) | [繁體中文](https://longbridge.com/zh-HK/news/276274820.md) # Cheesecake Factory | 8-K: FY2025 Q4 Revenue Beats Estimate at USD 961.56 M Revenue: As of FY2025 Q4, the actual value is USD 961.56 M, beating the estimate of USD 948.89 M. EPS: As of FY2025 Q4, the actual value is USD 0.6, missing the estimate of USD 0.99. EBIT: As of FY2025 Q4, the actual value is USD 33.7 M. #### Dividend Declaration The Board of Directors of The Cheesecake Factory Incorporated (\[起司工坊\]) declared a quarterly cash dividend of $0.30 per share on February 12, 2026, scheduled to be paid on March 17, 2026, to stockholders of record as of March 4, 2026. #### Share Repurchase Program On February 12, 2026, the Board approved an increase of 5.0 million shares to the existing share repurchase program, raising the total authorization to 66.0 million shares, with approximately 6.0 million shares remaining available for repurchase. #### Total Revenues In the fourth quarter of fiscal 2025 (13 weeks ended December 30, 2025), total revenues were $961.6 million, an increase from $921.0 million in the fourth quarter of fiscal 2024, including $17.3 million of gift card breakage revenue.For the full year fiscal 2025 (52 weeks ended December 30, 2025), total revenues were $3,751.8 million, up from $3,581.7 million in fiscal 2024. Total Revenue for FY 2025 was $3.8 billion, representing a 5% increase from the prior year. #### Net Income For the fourth quarter of fiscal 2025, GAAP net income was $28.8 million, down from $41.2 million in the prior year period, while adjusted net income (non-GAAP) was $48.3 million, compared to $51.8 million in the prior year period.For the full year fiscal 2025, GAAP net income was $148.4 million, compared to $156.8 million in fiscal 2024, and adjusted net income (non-GAAP) was $183.0 million, an increase from $168.7 million in fiscal 2024. Net income for FY 2025 was $148 million, down 5% from the prior year. #### Operational Metrics **Fourth Quarter Fiscal 2025:** Income from operations was $33.2 million, a decrease from $46.6 million in the fourth quarter of fiscal 2024, with the operating margin at 3.5% of revenues, down from 5.1% in the prior year. The company recorded a pre-tax net expense of $24.6 million related to impairment of assets and lease termination expenses, Fox Restaurant Concepts (“FRC”) acquisition-related items, gift card breakage, and gift card inventory adjustments. Comparable restaurant sales at The Cheesecake Factory restaurants declined 2.2% year-over-year, and North Italia comparable restaurant sales declined 4%. Operating Costs: Food and beverage costs were $207.4 million (21.6% of revenues), compared to $205.8 million (22.3% of revenues) in 2024. Labor expenses were $325.5 million (33.8% of revenues), compared to $315.2 million (34.2% of revenues) in 2024. Other operating costs and expenses were $256.1 million (26.6% of revenues), compared to $247.1 million (26.8% of revenues) in 2024. General and administrative expenses were $67.2 million (7.0% of revenues), compared to $57.8 million (6.3% of revenues) in 2024. Depreciation and amortization expenses were $28.7 million (3.0% of revenues), compared to $26.4 million (2.9% of revenues) in 2024. Impairment of assets and lease termination expenses were $22.5 million (2.3% of revenues), compared to $15.2 million (1.7% of revenues) in 2024. Acquisition-related contingent consideration, compensation and amortization expenses were $11.5 million (1.2% of revenues), compared to - $0.9 million (-0.1% of revenues) in 2024. Preopening costs were $9.4 million (1.0% of revenues), compared to $7.6 million (0.8% of revenues) in 2024. Total costs and expenses were $928.3 million (96.5% of revenues), compared to $874.3 million (94.9% of revenues) in 2024. **Full Year Fiscal 2025:** Income from operations was $187.3 million, up from $178.3 million in fiscal 2024, with the operating margin remaining consistent at 5.0% of revenues. Comparable restaurant sales at The Cheesecake Factory restaurants increased 0.1% year-over-year, while North Italia comparable restaurant sales declined 2%. Loss on debt extinguishment was - $15.9 million for the 52 weeks ended December 30, 2025. Adjusted EBITDA was $354 million, up 8% from the prior year. Net Income Margin was 15.0% in 2025, and Adjusted Net Income Margin was 5.0% for FY25. Dessert sales constituted 17% of total sales for FY 2025. Off-premise sales represented 22% of total revenue for FY 2025. The Cheesecake Factory Average Unit Volume (AUV) was $12.3 million for FY 2024, with an average check of $36 for FY 2024. FRC FY 2025 Revenue (excluding Flower Child) was $355 million. FY 2025 Average Weekly Sales: The Cheesecake Factory: ~$235,400, equating to $12.2 million Annualized AUV. North Italia: ~$145,500, equating to $7.6 million Annualized AUV. FRC (excludes Flower Child): ~$139,100, equating to $7.2 million Annualized AUV. #### Restaurant Development The company opened seven new restaurants during the fourth quarter of fiscal 2025, contributing to approximately 7% unit growth for the year. As of December 30, 2025, The Cheesecake Factory Incorporated (\[起司工坊\]) operated 371 company-owned restaurants and 35 international-licensed The Cheesecake Factory restaurants. Total restaurants were 368 across the US and Canada as of February 18, 2026, with 216 The Cheesecake Factory locations, 48 North Italia locations, 43 Flower Child locations, and 55 Fox Restaurant Concepts (FRC) locations. There were 35 International Licensed The Cheesecake Factory Locations. Unit growth in FY 2025 was 25 New Restaurant Openings (NROs), increasing the total restaurant count by 7% from 348 in the prior year to 371. #### Liquidity and Capital Allocation As of December 30, 2025, the company had $582.2 million in total available liquidity, including a cash balance of $215.7 million and $366.5 million availability on its revolving credit facility, with total principal amount of debt outstanding at $644.0 million.Capital Expenditures (CapEx) for FY 2025 were $146 million, dividends were $52 million, and share repurchases were $154 million.During the fourth quarter of fiscal 2025, the company repurchased approximately 228,100 shares for $11.2 million. #### Cash Flow - **Cash Flow From Operations:** - 2021: $213 million - 2022: $162 million - 2023: $218 million - 2024: $268 million - 2025: $301 million - **Free Cash Flow:** - 2021: $146 million - 2022: $49 million - 2023: $67 million - 2024: $108 million - 2025: $155 million #### Outlook / Guidance For fiscal 2026, The Cheesecake Factory Incorporated (\[起司工坊\]) expects to open as many as 26 new restaurants, including up to six The Cheesecake Factory restaurants, six to seven North Italia locations, six to seven Flower Child locations, and as many as eight FRC restaurants. The company targets consolidated sales of approximately $3.9 billion, a net income margin of approximately 5%, and comparable sales growth of 1% - 2%. Cash Capital Expenditures are projected at approximately $210 million, with The Cheesecake Factory AUVs expected to be approximately $12.5 million. ### 相关股票 - [Cheesecake Factory (CAKE.US)](https://longbridge.com/zh-CN/quote/CAKE.US.md) ## 相关资讯与研究 - [A Look At Cheesecake Factory (CAKE) Valuation After Recent Share Price Pullback](https://longbridge.com/zh-CN/news/281284297.md) - [The Cheesecake Factory Introduces New App With Exclusive Offer for Cheesecake Rewards Members | CAKE Stock News](https://longbridge.com/zh-CN/news/281364909.md) - [Cintas (CTAS) Valuation Check After Q3 Results And Higher Fiscal 2026 Guidance](https://longbridge.com/zh-CN/news/281225115.md) - [Wealth First Promoters Confirm 74% Stake With No Encumbrance in FY26](https://longbridge.com/zh-CN/news/281530653.md) - [Apple Is the Best-Performing Magnificent 7 Stock in 2026. Should You Buy It for Q2?](https://longbridge.com/zh-CN/news/281210109.md)