The Cheesecake Factory Incorporated (CAKE) Stock

The Cheesecake Factory Incorporated (CAKE) is a Consumer Discretionary stock trading at $106.47 (as of 2026-08-20), with a market capitalization of $5.30B and a trailing P/E of 26.6. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

The Cheesecake Factory Incorporated operates restaurants and produces cheesecakes and other baked goods through its bakery operations. It owns and runs restaurants in the United States and Canada under brands including The Cheesecake Factory and North Italia, as well as additional Fox Restaurant Concepts, and it licenses some restaurants internationally.

Understand The Cheesecake Factory Incorporated: how it makes money

The Cheesecake Factory Incorporated operates branded restaurants (including The Cheesecake Factory and North Italia) and makes cheesecakes and other baked products in two bakeries, selling restaurant meals at company-owned locations and providing bakery products and brand licensing to restaurants, licensees, and other customers.

A large share of profit comes from running and scaling its own restaurants, while a second profit stream comes from producing baked goods in-house and extending its brands through licensing and third-party bakery and foodservice customers.

Revenue by segment (latest quarter)
Cheesecake$0.7B
North Italia$0.1B
Fox Other$0.1B
Other$0.1B

Business quality (Mixed): Good clarity on the business model (restaurants plus in-house baking and licensing), and there are operating metrics for comparable sales by concept. Limits: provided segment revenue groupings do not cleanly sum to the stated total, and only one operating margin datapoint is included.

Valuation: At 22× earnings, CAKE trades 19% below the Restaurants, Hotels & Motels average (27×). Note: one-time items can distort reported P/E.

Bull case

  • Cheesecake Factory comparable sales are positive (1.0%), supporting restaurant demand at the core brand: The company operates 208 The Cheesecake Factory restaurants, and the operating metric provided shows comparable sales of 1.0% at those restaurants.
  • Multiple branded restaurant platforms diversify traffic drivers across concepts: The company operates 208 The Cheesecake Factory and 29 North Italia, plus a collection of Fox Restaurant Concepts, and also has international licensing agreements for additional The Cheesecake Factory restaurants.

Bear case

  • North Italia comparable sales declined, which can weigh on consolidated performance: The operating metrics provided show North Italia Comparable Sales of -3.0%.
  • Restaurant demand swings can translate quickly into revenue changes: The company’s operating metrics provided focus on comparable sales, indicating that same-restaurant demand is a key driver for performance.
  • The company also relies on licensing and third-party bakery and foodservice customers, which can introduce execution and partner risks: It operates international licensees and supplies baked products to third-party bakery customers and external foodservice operators, so changes with partners could affect volumes.
Valuation — source: SEC EDGAR (first-party)
Price$106.47
Market Cap$5.30B
P/E Ratio26.6
EV / EBITDA16.7
Price / Book10.21
Price / Sales1.36
FCF Yield7.5%
DCF Value (model)$36.71
DCF Upside vs Price-65.5%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$3.75B
Net Margin4.0%
Revenue Growth (YoY)4.7%
EPS Growth (YoY)-3.4%
FCF Growth (YoY)43.6%
Financial Health — source: SEC EDGAR
Altman Z-Score2.96 (grey)
Valuation vs Sector & Industry
Stock P/E26.6
Sector P/E (Consumer Discretionary)20.5
Industry P/E (Restaurants, Hotels & Motels)26.6
vs Sector29.7%
vs Industry0.0%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($365.39M)
Institutional Holders Tracked10
Company
SectorConsumer Discretionary
IndustryRestaurants, Hotels & Motels
CEODavid Overton
Employees47,900
CountryUS
IPO Date1992-09-18

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CAKE earnings history · CAKE institutional & insider holders · CAKE KPIs & operating metrics · CAKE financials · CAKE investor presentations & press releases · CAKE SEC filings · CAKE peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.