--- title: "Cheesecake Factory | 10-K: FY2025 Revenue Beats Estimate at USD 3.752 B" type: "News" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/276651237.md" datetime: "2026-02-23T22:03:59.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/276651237.md) - [en](https://longbridge.com/en/news/276651237.md) - [zh-HK](https://longbridge.com/zh-HK/news/276651237.md) --- > 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/276651237.md) | [English](https://longbridge.com/en/news/276651237.md) # Cheesecake Factory | 10-K: FY2025 Revenue Beats Estimate at USD 3.752 B 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. #### Overall Company Financial and Operational Metrics - **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. - **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. - **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. - **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. - **Loss on Extinguishment of Debt**: A loss of - $15.9 million was recorded on early debt extinguishment in fiscal 2025. - **Operating Costs (as a percentage of revenues)**: - Food and beverage costs were 21.7% for fiscal 2025, down from 22.5% for fiscal 2024. - Labor expenses were 35.0% for fiscal 2025, down from 35.3% for fiscal 2024. - Other operating costs and expenses were 27.0% for fiscal 2025, up from 26.7% for fiscal 2024. - General and administrative expenses were 6.5% for fiscal 2025, up from 6.4% for fiscal 2024. - Depreciation and amortization expenses were 2.9% for fiscal 2025, up from 2.8% for fiscal 2024. - 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. - 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. - Preopening costs were 0.9% ($33.1 million) for fiscal 2025, compared to 0.8% ($27.5 million) for fiscal 2024. - **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. - **Other Key Metrics**: - 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. - 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. - Accrued liabilities for self-insured plans totaled $77.3 million at December 30, 2025, compared to $73.6 million at December 31, 2024. #### The Cheesecake Factory Segment - **Unit Count**: Operated 216 locations as of February 23, 2026, with an additional 35 international licensed restaurants. - **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. - **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. - **Operational Costs**: Restaurant-level preopening costs for a typical location average approximately $1.0 million to $1.5 million. #### North Italia Segment - **Unit Count**: Operated 48 locations as of February 23, 2026. - **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. - **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. - **Operational Costs**: Restaurant-level preopening costs for a typical location average approximately $0.6 million to $0.8 million. #### Flower Child Segment - **Unit Count**: Operated 43 locations as of February 23, 2026. - **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. - **Unique Metrics**: Off-premise sales comprised approximately 55% of restaurant sales during fiscal 2025. #### Other Fox Restaurant Concepts (“Other FRC”) Segment - **Unit Count**: Operated 55 locations as of February 23, 2026. - **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. #### Outlook/Guidance 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. ### 相關股票 - [Cheesecake Factory (CAKE.US)](https://longbridge.com/zh-HK/quote/CAKE.US.md) ## 相關資訊與研究 - [A Look At Cheesecake Factory (CAKE) Valuation After Recent Share Price Pullback](https://longbridge.com/zh-HK/news/281284297.md) - [The Cheesecake Factory Introduces New App With Exclusive Offer for Cheesecake Rewards Members | CAKE Stock News](https://longbridge.com/zh-HK/news/281364909.md) - [Wealth First Promoters Confirm 74% Stake With No Encumbrance in FY26](https://longbridge.com/zh-HK/news/281530653.md) - [Cintas (CTAS) Valuation Check After Q3 Results And Higher Fiscal 2026 Guidance](https://longbridge.com/zh-HK/news/281225115.md) - [Assessing Planisware SAS (ENXTPA:PLNW) Valuation After Recent Share Price Weakness](https://longbridge.com/zh-HK/news/281668711.md)