Jun 2026 (Q2 FY26) — Jul 28, 2026
The Cheesecake Factory Q2 FY26 — Record Revenue and Strong Comps Driven by Innovation and Digital Engagement
Read the full callCheesecake Factory (CAKE) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Cheesecake Factory earnings: last reported Tue, 28 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,030 | +7.7% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 7.6 | +0.8 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 68.4 | +24.8% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
27 of 46 judged targets kept · 52 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Net Income Margin | about 5.5% | Mar 2026 | Adjusted net income margin was 6.8% and adjusted diluted earnings per share was $1.44, both finishing well above our expectations. | Achieved |
| Depreciation | about $115 million | Mar 2026 | Depreciation is expected to be about $116 million for the year. | Revised Down |
| Capital Expenditures | approximately $210 million | Dec 2025 | And we would anticipate approximately $210 million in cash CapEx to support unit development as well as required maintenance on our restaurants. | On Track |
19 of CHEESECAKE FACTORY INC's 98 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 95 more targets are in the full ledger.
Claimed
- Quarterly revenue surpassed $1 billion for the first time.
- Adjusted diluted EPS increased 24% year-over-year to $1.44.
- The Cheesecake Factory comparable sales grew 5.8% with positive traffic of 2.7%.
- The Cheesecake Factory restaurant-level margin reached 20%, its highest in a decade.
- Flower Child comparable sales increased 13%, with annualized AUVs of $5.3 million.
Qualified
- North Italia comparable sales declined 3%.
- North Italia restaurant-level profit margin decreased to 15.6% from 18.2% YoY due to sales deleverage and higher commodity inflation.
Price
$116.18 +1.10% · +$1.26
Performance +115.3% 1Y
1Y: $53.97 on 17 Oct 2025 → $116.18. High $117.29 (12 Aug 2026), low $43.14 (20 Nov 2025).
- Previous close
- $114.92
- 52-week range
- $43.14 – $117.29
- One year
- +113.57%
Overview
- Symbol
- CAKE
- Sector
- Consumer Discretionary
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
27 of 46 judged targets kept · 52 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Net Income Margin | about 5.5% | Mar 2026 | Adjusted net income margin was 6.8% and adjusted diluted earnings per share was $1.44, both finishing well above our expectations. | Achieved |
| Depreciation | about $115 million | Mar 2026 | Depreciation is expected to be about $116 million for the year. | Revised Down |
| Capital Expenditures | approximately $210 million | Dec 2025 | And we would anticipate approximately $210 million in cash CapEx to support unit development as well as required maintenance on our restaurants. | On Track |
Claimed
- Quarterly revenue surpassed $1 billion for the first time.
- Adjusted diluted EPS increased 24% year-over-year to $1.44.
- The Cheesecake Factory comparable sales grew 5.8% with positive traffic of 2.7%.
- The Cheesecake Factory restaurant-level margin reached 20%, its highest in a decade.
- Flower Child comparable sales increased 13%, with annualized AUVs of $5.3 million.
Qualified
- North Italia comparable sales declined 3%.
- North Italia restaurant-level profit margin decreased to 15.6% from 18.2% YoY due to sales deleverage and higher commodity inflation.
The full ledger
Open CHEESECAKE FACTORY INC’s full ledger
A free account opens 5 company ledgers a month. All 98 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 29, 2026
The Cheesecake Factory Q1 FY26 — Strong Comps and Margin Expansion Driven by Culinary Innovation and Operational Execution
Read the full callEvery analysed call
Cheesecake Factory earnings calls (CAKE)
Financials
What the filings say
Net profit, year on year: +25% (quarter to jun 2026 against jul 2025).
| Line item | Oct 2024 | Dec 2024 | Apr 2025 | Jul 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 865 | 921 | 927 | 956 | 907 | 962 | 979 | 1,030 |
| Expenses | 832 | 874 | 875 | 891 | 870 | 928 | 924 | 951 |
| Operating profit | 34 | 47 | 52 | 65 | 37 | 33 | 55 | 79 |
| Operating margin | 3.9% | 5.1% | 5.6% | 6.8% | 4.1% | 3.5% | 5.6% | 7.6% |
| Profit before tax | 32 | 45 | 34 | 62 | 35 | 31 | 53 | 77 |
| Tax rate | 5.8% | 9.2% | 4.5% | 11.9% | 10.1% | 6.3% | 7.1% | 11.1% |
| Net profit | 30 | 41 | 33 | 55 | 32 | 29 | 50 | 68 |
| EPS ($ per share) | 0.63 | — | 0.69 | 1.18 | 0.68 | — | 1.06 | 1.47 |
| Line item | Jan 2019 | Dec 2019 | Dec 2020 | Dec 2021 | Jan 2023 | Jan 2024 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Reserves | 1,384 | 1,408 | 1,110 | 1,169 | 1,170 | 1,216 | 1,318 | 1,413 |
| Total liabilities | 743 | 2,269 | 2,458 | 2,468 | 2,483 | 2,522 | 2,598 | 2,825 |
| Fixed assets | 140 | 832 | 774 | 742 | 746 | 791 | 841 | 870 |
| Total assets | 1,314 | 2,841 | 2,747 | 2,798 | 2,775 | 2,840 | 3,042 | 3,262 |
| Line item | Jan 2019 | Dec 2019 | Dec 2020 | Dec 2021 | Jan 2023 | Jan 2024 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 291 | 219 | 3 | 213 | 162 | 218 | 268 | 301 |
| Cash from investing | -130 | -363 | -51 | -69 | -113 | -153 | -161 | -147 |
| Cash from financing | -140 | 176 | 144 | -109 | -124 | -124 | -79 | -23 |
| Net cash flow | 21 | 32 | 96 | 36 | -75 | -58 | 28 | 132 |
| Capital expenditure | -103 | -74 | -50 | -67 | -112 | -152 | -160 | -146 |
| Free cash flow | 188 | 145 | -47 | 146 | 49 | 67 | 108 | 155 |
CAKE revenue by segment
The Cheesecake Factory shrank from 75% to 71% of revenue over the last two years.
| Segment | Q2 FY2025 | Q3 FY2025 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| The Cheesecake Factory | 75% | 75% | 73% | 71% | 72% | 64% | 71% | 71% | +6.8% |
| Other Fox Restaurant Concepts Llc | 8% | 8% | 9% | 9% | 9% | 13% | 11% | 10% | +15.4% |
| North Italia | 8% | 8% | 9% | 10% | 9% | 12% | 9% | 10% | +8.4% |
| All Other Segments | 9% | 9% | 9% | 10% | 10% | 12% | 10% | 9% | +6.7% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Insider filings
58 filings between Dec 10, 2025 and Sep 1, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$30.15M
19 sales by 9 insiders
Compensation
not trading decisions- 13
- Award — granted as compensation
- 4
- Option exercise — converted options into shares
- 19
- Tax withheld — shares kept back by the company to cover tax
Also filed: 3 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| OVERTON DAVID | — | $16.35M | Aug 5, 2026 |
| Clark Matthew Eliot | — | $7.30M | Jul 30, 2026 |
| Gordon David M | — | $3.52M | Aug 10, 2026 |
| May Scarlett | — | $1.15M | Jul 31, 2026 |
| Hanscom Ashley W | — | $543.7K | Jul 30, 2026 |
| CAPPELLO ALEXANDER L | — | $438.0K | Aug 4, 2026 |
| Ames Edie A | — | $320.9K | Aug 10, 2026 |
| Alex Spero G | — | $316.1K | Feb 25, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 1, 2026 | KRANSDORF JEROME I Director | Gift | 200 | $0 |
| Aug 26, 2026 | KRANSDORF JEROME I Director | Gift | 800 | $0 |
| Aug 17, 2026 | Meyer Janice L. Director | Sale | 1,958 | $214.1K |
| Aug 10, 2026 | Gordon David M PRESIDENT | Sale | 16,866 | $1.85M |
| Aug 10, 2026 | Gordon David M PRESIDENT | Option exercise | 11,040 | $443.4K |
| Aug 10, 2026 | Gordon David M PRESIDENT | Option exercise | 5,826 | $203.4K |
| Aug 10, 2026 | Gordon David M PRESIDENT | Sale | 15,084 | $1.66M |
| Aug 10, 2026 | Ames Edie A Director | Sale | 3,000 | $320.9K |
| Aug 5, 2026 | OVERTON DAVID CHAIRMAN AND C.E.O. | Sale | 94,145 | $10.00M |
| Aug 4, 2026 | CAPPELLO ALEXANDER L Director | Sale | 64 | $6.8K |
| Aug 3, 2026 | CAPPELLO ALEXANDER L Director | Sale | 59 | $6.1K |
| Jul 31, 2026 | May Scarlett EVP, GENERAL COUNSEL | Sale | 7,978 | $819.0K |
| Jul 31, 2026 | CAPPELLO ALEXANDER L Director | Sale | 100 | $10.3K |
| Jul 30, 2026 | CAPPELLO ALEXANDER L Director | Sale | 2,095 | $212.6K |
| Jul 30, 2026 | Clark Matthew Eliot EXEC VP, CFO | Sale | 68,900 | $6.84M |
| Jul 30, 2026 | Clark Matthew Eliot EXEC VP, CFO | Option exercise | 68,900 | $2.77M |
| Jul 30, 2026 | Hanscom Ashley W PRINCIPAL ACCOUNTING OFFICER | Sale | 3,500 | $350.0K |
| Jun 2, 2026 | CAPPELLO ALEXANDER L Director | Sale | 2,490 | $161.6K |
| May 28, 2026 | Meyer Janice L. Director | Award | 2,490 | $0 |
| May 28, 2026 | Collins Khanh Director | Award | 1,250 | $0 |
| May 28, 2026 | CAPPELLO ALEXANDER L Director | Award | 2,490 | $0 |
| May 1, 2026 | OVERTON DAVID CHAIRMAN AND C.E.O. | Sale | 104,000 | $6.35M |
| May 1, 2026 | OVERTON DAVID CHAIRMAN AND C.E.O. | Option exercise | 104,000 | $4.79M |
| Apr 1, 2026 | Gordon David M PRESIDENT | Tax withheld | 1,167 | $64.5K |
| Apr 1, 2026 | Clark Matthew Eliot EXEC VP, CFO | Tax withheld | 1,059 | $58.6K |
| Apr 1, 2026 | May Scarlett EVP, GENERAL COUNSEL | Tax withheld | 525 | $29.0K |
| Apr 1, 2026 | OVERTON DAVID CHAIRMAN AND C.E.O. | Tax withheld | 4,655 | $257.4K |
| Mar 10, 2026 | May Scarlett EVP, GENERAL COUNSEL | Sale | 5,206 | $327.7K |
| Feb 25, 2026 | Hanscom Ashley W PRINCIPAL ACCOUNTING OFFICER | Sale | 2,951 | $193.7K |
| Feb 25, 2026 | Clark Matthew Eliot EXEC VP, CFO | Sale | 7,000 | $459.9K |
| Feb 25, 2026 | Alex Spero G EVP Operations - CFRI | Sale | 4,790 | $316.1K |
| Feb 23, 2026 | CAPPELLO ALEXANDER L Director | Sale | 635 | $40.5K |
| Feb 16, 2026 | Alex Spero G EVP Operations - CFRI | Tax withheld | 1,787 | $104.8K |
| Feb 16, 2026 | Hanscom Ashley W PRINCIPAL ACCOUNTING OFFICER | Tax withheld | 880 | $51.6K |
| Feb 16, 2026 | Gordon David M PRESIDENT | Tax withheld | 3,562 | $209.0K |
| Feb 16, 2026 | OVERTON DAVID CHAIRMAN AND C.E.O. | Tax withheld | 21,150 | $1.24M |
| Feb 16, 2026 | Gordon David M PRESIDENT | Tax withheld | 5,288 | $310.2K |
| Feb 16, 2026 | Clark Matthew Eliot EXEC VP, CFO | Tax withheld | 3,033 | $177.9K |
| Feb 16, 2026 | May Scarlett EVP, GENERAL COUNSEL | Tax withheld | 1,516 | $88.9K |
| Feb 16, 2026 | May Scarlett EVP, GENERAL COUNSEL | Tax withheld | 1,667 | $97.8K |
| Feb 16, 2026 | OVERTON DAVID CHAIRMAN AND C.E.O. | Tax withheld | 19,247 | $1.13M |
| Feb 11, 2026 | Alex Spero G EVP Operations - CFRI | Award | 2,600 | $0 |
| Feb 11, 2026 | Hanscom Ashley W PRINCIPAL ACCOUNTING OFFICER | Award | 2,280 | $0 |
| Feb 11, 2026 | Gordon David M PRESIDENT | Award | 15,761 | $0 |
| Feb 11, 2026 | Gordon David M PRESIDENT | Award | 13,400 | $0 |
| Feb 11, 2026 | Clark Matthew Eliot EXEC VP, CFO | Award | 14,087 | $0 |
| Feb 11, 2026 | Clark Matthew Eliot EXEC VP, CFO | Award | 11,860 | $0 |
| Feb 11, 2026 | May Scarlett EVP, GENERAL COUNSEL | Award | 7,043 | $0 |
| Feb 11, 2026 | OVERTON DAVID CHAIRMAN AND C.E.O. | Award | 63,045 | $0 |
| Feb 11, 2026 | OVERTON DAVID CHAIRMAN AND C.E.O. | Award | 50,350 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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