CAKE on Nasdaq

The Cheesecake Factory

Logo: The Cheesecake Factory, Public domain, via Wikimedia Commons4

American restaurant chain

The Cheesecake Factory Incorporated is an American restaurant chain and cheesecake distributor based in the United States. It operates 370 full-service restaurants: 218 under the Cheesecake Factory brand, 47 under the North Italia brand, and 105 under other brands.3 From Wikipedia, CC BY-SA 4.0

Price unavailable

Last updated Oct 16, 2026.

Overview

1978Founded1

Compare with Bloomin' Brands, Cracker Barrel or Arcos Dorados Holdings, or pick any stock.

  • TickerCAKE on Nasdaq1
  • Industrygastronomy1
  • HeadquartersCalabasas1
  • Websitewww.thecheesecakefactory.com
  • Legal formDelaware corporation1
  • Incorporated inDE5
  • Business address26901 Malibu Hills Rd, Calabasas Hills, Ca 913015
  • Filer categoryLarge accelerated filer5
The Cheesecake Factory in Downntown Seattle 2009
Photo: TriviaKing ( talk )DWS, CC BY-SA 3.0, via Wikimedia Commons7

The Cheesecake Factory Incorporated is an American restaurant chain and cheesecake distributor based in the United States. It operates 370 full-service restaurants: 218 under the Cheesecake Factory brand, 47 under the North Italia brand, and 105 under other brands. The Cheesecake Factory also operates two bakery production facilities in Calabasas, California, and Rocky Mount, North Carolina.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

5.0%Operating margin8
4.0%Net margin8
4.7%Revenue growth, 20258
34.0%Return on equity8
1.29×Debt to equity8
$155.1MFree cash flow8

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

The Cheesecake Factory restaurants brought in 72% of the revenue The Cheesecake Factory broke down this way in fiscal 2025.

  1. The Cheesecake Factory restaurants$2.7B872%up 1% from 2024
  2. Other Operating$362.1M810%up 13% from 2024
  3. Other FRC$355.1M89%up 18% from 2024
  4. North Italia$345.9M89%up 15% from 2024
Business segments by year
Business segments202320242025
The Cheesecake Factory restaurants$2.6B$2.7B$2.7B
Other Operating$321.6M$320.5M$362.1M
Other FRC$263.9M$300.0M$355.1M
North Italia$258.9M$299.6M$345.9M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs96¢$3.6B
  • Income tax0¢$14.5M
  • Profit4¢$148.4M

Out of $3.8B in revenue.8

Where each dollar of operating cash went, fiscal 2025

  • Capital spending42¢$146.2M
  • Dividends paid15¢$52.2M
  • Share buybacks44¢$153.9M

Out of $301.3M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.8

Financial statements

Revenue91011128$3.8B in 2025+51% since 2019
0$1.0B$2.0B$3.0B$4.0B2019: $2.5B$2.5B20192020: $2.0B$2.0B2020−20%2021: $2.9B$2.9B2021+48%2023: $3.3B$3.3B2023+13%2024: $3.6B$3.6B2024+8%2025: $3.8B$3.8B2025+5%
Operating income91011128$187.3M in 2025+81% since 2019
-$400.0M-$200.0M0$200.0M2019: $103.6M$103.6M20192020: -$347.4M-$347.4M20202021: $82.3M$82.3M20212023: $38.9M$38.9M2023−53%2024: $178.3M$178.3M2024+358%2025: $187.3M$187.3M2025+5%
Net income91011128$148.4M in 2025+17% since 2019
-$400.0M-$200.0M0$200.0M2019: $127.3M$127.3M20192020: -$253.4M-$253.4M20202021: $72.4M$72.4M20212023: $43.1M$43.1M2023−40%2024: $156.8M$156.8M2024+264%2025: $148.4M$148.4M2025−5%

Every line of the income statement in the latest annual report, as filed.8

Period ending2025-12-312024-12-312023-12-31
Revenues$3.8B$3.6B$3.4B
Food and beverage costs$813.1M$806.0M$803.5M
Labor expenses$1.3B$1.3B$1.2B
Other operating costs and expenses$1.0B$959.2M$922.4M
General and administrative expenses$244.9M$228.7M$217.4M
Depreciation and amortization expenses$109.0M$101.5M$93.1M
Impairment of assets and lease termination expenses$23.0M$13.6M$29.5M
Acquisition-related contingent consideration, compensation and amortization expenses$14.4M$2.4M$11.7M
Preopening costs$33.1M$27.5M$25.4M
Total costs and expenses$3.6B$3.4B$3.3B
Income from operations$187.3M$178.3M$108.6M
Interest expense, net-$10.4M-$10.1M-$10.2M
Loss on extinguishment of debt-$15.9M
Other income, net$1.9M$2.8M$1.6M
Income before income taxes$162.9M$171.0M$100.0M
Income tax provision/(benefit)$14.5M$14.3M-$1.3M
Net income$148.4M$156.8M$101.4M
Basic (in dollars per share)$3.17$3.28$2.10
Diluted (Note 1) (in dollars per share)$3.06$3.20$2.07
Basic (in shares)46.8M shares47.8M shares48.3M shares
Diluted (in shares)48.6M shares49.0M shares49.0M shares

Compare The Cheesecake Factory with another company

The story

Founded by David M. Overton in 1978.1

Founding and early years

Evelyn Overton, inspired by a cheesecake recipe from a Detroit newspaper, made a cheesecake for her husband's employer in the 1940s. The cheesecake was well received, and she opened a small cheesecake bakery in Detroit, Michigan, in the late 1950s. She closed the bakery to raise her children but continued supplying cheesecakes to local restaurants from her basement kitchen. In 1967, Evelyn's son David M. Overton left Detroit to attend Hastings College of Law in San Francisco but decided to be a drummer in 1968, performing with the Billy Roberts Blues Band. In 1971, David convinced his parents to relocate to Los Angeles to open a commercial bakery. In 1972, they moved to the Woodland Hills area of Los Angeles where they opened The Cheesecake Factory Bakery, selling cheesecakes and other desserts to local restaurants.

First restaurant

In 1978, David Overton opened The Cheesecake Factory, a small salad-and-sandwich restaurant in Beverly Hills that sold ten varieties of cheesecakes on a one-page menu. In 1983, he opened a second restaurant in Marina del Rey. By 1987, the Beverly Hills location had expanded into a 78-seat restaurant and was experiencing financial success. This led to the opening of a third, larger location in Redondo Beach, which was eventually renovated into a 300-seat, 21,000-square-foot (2,000 m2) location. By the end of the 1980s, The Cheesecake Factory's one-page menu had expanded, and the restaurant offered additional entrees and short-order items.

Expansion beyond Southern California

The first Cheesecake Factory restaurant outside of Southern California opened in the 1990s. The new restaurant, the chain's fifth, was located in Washington, D.C. The Cheesecake Factory was incorporated in 1992 and went public in September of that year. David Overton planned to open three to four units a year to generate a 25% yearly increase in sales.

The company began changing its menu twice a year and adding steaks, seafood, and vegetarian dishes. As of April 2013, the Cheesecake Factory operated 162 restaurants in 36 states under the Cheesecake Factory name. The first Cheesecake Factory in Puerto Rico opened on August 28, 2013, located in Plaza Las Américas in San Juan.

The company used to operate one self-service, limited-menu express food service operation under the Cheesecake Factory marque inside DisneyQuest at the Walt Disney World Resort in Lake Buena Vista, Florida. It opened in 1998 and closed in 2017.

International expansion

As of 2024, the Cheesecake Factory has locations in Bahrain, Canada, China, Hong Kong, Kuwait, Macau, Mexico, Qatar, Saudi Arabia, Thailand, the United Arab Emirates and the United States.

On January 25, 2011, the company expanded into the Middle East in a partnership with Kuwaiti retail franchising company M.H. Alshaya Co. The 300-seat restaurant opened on August 16, 2012, at The Dubai Mall. This was The Cheesecake Factory's first location outside the United States. As of May 2018, The Cheesecake Factory has eleven restaurants in the Middle East: four in Dubai (Dubai Mall, Mall of Emirates, Jumeirah Beach Residence and Dubai Festival City Mall), three in Kuwait (Arabella, Sidra, and The Avenues—which was the 160th Cheesecake Factory opening), two in Saudi Arabia (Riyadh and Jeddah), and one in the Yas Mall and one in The Galleria in Abu Dhabi. On December 1, 2015, The Cheesecake Factory opened its eighth Middle East branch at the Verdun Shopping Center in Beirut, Lebanon. The Cheesecake Factory made its first appearance in Doha, Qatar, by opening in the Mall of Qatar and further opened two more branches in Villaggio and Doha Festival City.

On June 16, 2016, The Cheesecake Factory opened its first location in East Asia in Disneytown, located in Pudong, Shanghai, China. The first Cheesecake Factory in Mexico opened in Guadalajara in 2014. There are Cheesecake Factories in Parque Delta and Centro Santa Fe, Mexico City. In November 2017, the first Canadian location opened at Yorkdale Shopping Centre in Toronto, Ontario. In May 2017, a Hong Kong restaurant opened in Harbour City, Tsim Sha Tsui.

From Wikipedia’s article on The Cheesecake Factory, shared under CC BY-SA 4.0.6

Leadership

Who has led The Cheesecake Factory, and when. Pick a name to see everywhere that person has worked.

Products and brands

  • cheesecake

Listed on Wikidata.1

The Cheesecake Factory dining menu includes steaks, chops, burgers, chicken, seafood, sandwiches, pasta, pizza, soups, and salads in various cuisines. In addition to its regular dining menu, the company offers a lower-calorie menu that includes salads, burgers, sandwiches, and small plates. The brunch menu is offered on Saturdays and Sundays and includes pancakes, waffles, French toast, and eggs.

The dessert menu offers various types of cheesecake, as well as other cakes, milkshakes, ice cream, and specialty desserts. Per a company spokesperson, the restaurant sells almost 35 million slices of cheesecake annually.

The more than 250 menu items are all made from scratch to order, except for the cheesecakes which are produced in bakery production facilities and delivered to the restaurants frozen.

Caloric content

The Cheesecake Factory has been criticized for featuring large servings of high-calorie and high-fat foods. For these reasons, the chain was dubbed the "worst family restaurant in America" for 2010 by Men's Health magazine. The average sandwich at the restaurant contains 1,400 calories. In 2013, the Center for Science in the Public Interest noted that the "Crispy Chicken Costoletta" has more calories (2,610) than a 12-piece bucket of fried chicken from KFC, and the Cheesecake Factory's "Bistro Shrimp Pasta" dish had more calories than any other entrée from a national chain restaurant at 3,120 calories, with 89 grams of saturated fat. In 2015, the Cheesecake Factory created a "SkinnyLicious" menu that features a variety of cocktails, salads, appetizers, and specialty dishes such as lemon-garlic shrimp and grilled salmon.

From Wikipedia’s article on The Cheesecake Factory, shared under CC BY-SA 4.0.6

Employees over time

  • 201638,8001

Former names

  • CHEESECAKE FACTORY INCORPORATEDJul 24, 1996 to Mar 1, 20075

Timeline

  1. 1978Founded Founded1

Recent filings

  1. Sep 3, 20264
  2. Aug 28, 20264
  3. Aug 18, 20264
  4. Aug 14, 2026144
  5. Aug 12, 20264
  6. Aug 12, 20264
  7. Aug 10, 2026144
  8. Aug 7, 2026SCHEDULE 13G/A
  9. Aug 7, 2026144
  10. Aug 6, 20264
  11. Aug 6, 20264
  12. Aug 5, 2026144
  13. Aug 4, 2026144
  14. Aug 3, 2026144
  15. Aug 3, 20264

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2