Shake Shack annual debt-to-equity ratio
2018
2019
2020
2021
2022
2023
2024
2025
Shake Shack Debt-to-Equity Ratio Growth & History (SHAK)
Shake Shack's debt-to-equity ratio was 1.68 for fiscal 2025.
View full Shake Shack company overviewShake Shack annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 1.68 | −0.01 | −0.72% |
| 2024 | 2024-12-25 | 1.70 | −0.02 | −0.98% |
| 2023 | 2023-12-27 | 1.71 | −0.01 | −0.62% |
| 2022 | 2022-12-28 | 1.72 | 0.07 | +3.98% |
| 2021 | 2021-12-29 | 1.66 | 0.71 | +75.31% |
| 2020 | 2020-12-30 | 0.95 | −0.19 | −17.04% |
| 2019 | 2019-12-25 | 1.14 | 1.14 | — |
| 2018 | 2018-12-26 | 0.00 | — | — |
Shake Shack quarterly debt-to-equity ratio
As of Dec 31, 2014
As of Apr 1, 2015
As of Jul 1, 2015
As of Sep 30, 2015
As of Dec 30, 2015
As of Mar 30, 2016
As of Jun 29, 2016
As of Sep 28, 2016
Q1.17
Q2.17
Q3.17
Q4.17
Q1.18
Q2.18
Q3.18
Q4.18
Q1.19
Q2.19
Q3.19
Q4.19
Q1.20
Q2.20
Q3.20
Q4.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-07-01 | 1.71 | 0.03 | +1.76% |
| Q1 2026 | 2026-04-01 | 1.75 | 0.02 | +0.92% |
| Q4 2025 | 2025-12-31 | 1.68 | −0.01 | −0.72% |
| Q3 2025 | 2025-09-24 | 1.66 | −0.09 | −5.40% |
| Q2 2025 | 2025-06-25 | 1.68 | −0.02 | −1.06% |
| Q1 2025 | 2025-03-26 | 1.73 | −0.00 | −0.05% |
| Q4 2024 | 2024-12-25 | 1.70 | −0.02 | −0.98% |
| Q3 2024 | 2024-09-25 | 1.76 | 0.02 | +0.90% |
| Q2 2024 | 2024-06-26 | 1.70 | −0.04 | −2.07% |
| Q1 2024 | 2024-03-27 | 1.73 | −0.03 | −1.46% |
| Q4 2023 | 2023-12-27 | 1.71 | −0.01 | −0.62% |
| Q3 2023 | 2023-09-27 | 1.74 | 0.05 | +2.67% |
| Q2 2023 | 2023-06-28 | 1.74 | 0.00 | +0.20% |
| Q1 2023 | 2023-03-29 | 1.76 | 0.06 | +3.61% |
| Q4 2022 | 2022-12-28 | 1.72 | 0.07 | +3.98% |
| Q3 2022 | 2022-09-28 | 1.70 | 0.10 | +6.07% |
| Q2 2022 | 2022-06-29 | 1.73 | 0.18 | +11.35% |
| Q1 2022 | 2022-03-30 | 1.70 | 0.16 | +10.35% |
| Q4 2021 | 2021-12-29 | 1.66 | 0.71 | +75.31% |
| Q3 2021 | 2021-09-29 | 1.60 | 0.70 | +77.71% |
| Q2 2021 | 2021-06-30 | 1.56 | 0.67 | +75.08% |
| Q1 2021 | 2021-03-31 | 1.54 | 0.14 | +9.69% |
| Q4 2020 | 2020-12-30 | 0.95 | −0.19 | −17.04% |
| Q3 2020 | 2020-09-23 | 0.90 | −0.30 | −24.71% |
| Q2 2020 | 2020-06-24 | 0.89 | −0.37 | −29.47% |
| Q1 2020 | 2020-03-25 | 1.40 | 0.15 | +11.89% |
| Q4 2019 | 2019-12-25 | 1.14 | 1.14 | — |
| Q3 2019 | 2019-09-25 | 1.20 | 1.20 | — |
| Q2 2019 | 2019-06-26 | 1.26 | 1.26 | — |
| Q1 2019 | 2019-03-27 | 1.25 | 1.25 | — |
| Q4 2018 | 2018-12-26 | 0.00 | 0.00 | — |
| Q3 2018 | 2018-09-26 | 0.00 | 0.00 | — |
| Q2 2018 | 2018-06-27 | 0.00 | 0.00 | — |
| Q1 2018 | 2018-03-28 | 0.00 | 0.00 | — |
| Q4 2017 | 2017-12-27 | 0.00 | — | — |
| Q3 2017 | 2017-09-27 | 0.00 | 0.00 | — |
| Q2 2017 | 2017-06-28 | 0.00 | 0.00 | — |
| Q1 2017 | 2017-03-29 | 0.00 | −0.00 | — |
| As of Sep 28, 2016 | 2016-09-28 | 0.00 | −0.00 | — |
| As of Jun 29, 2016 | 2016-06-29 | 0.00 | −0.00 | — |
| As of Mar 30, 2016 | 2016-03-30 | 0.00 | −0.00 | −2.79% |
| As of Dec 30, 2015 | 2015-12-30 | 0.00 | −2.56 | −99.88% |
| As of Sep 30, 2015 | 2015-09-30 | 0.00 | — | — |
| As of Jul 1, 2015 | 2015-07-01 | 0.00 | — | — |
| As of Apr 1, 2015 | 2015-04-01 | 0.00 | — | — |
| As of Dec 31, 2014 | 2014-12-31 | 2.56 | — | — |
Shake Shack debt-to-equity ratio trends
Over the last five fiscal years, Shake Shack's debt-to-equity ratio increased from 0.95 to 1.68, a change of 0.74. The latest reported quarter, Q2 2026, shows 1.71.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Shake Shack source filings ↗