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As of February 23, 2026, we owned and operated 368 restaurants throughout the United States and Canada under brands including The Cheesecake Factory (216 locations), North Italia (48 locations), Flower Child (43 locations) and additional brands within our Fox Restaurant Concepts ( Other FRC ) portfolio (55 locations). Internationally, 35 The Cheesecake Factory restaurants operate under licensin…
Operating margin is thin at 4.99%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 4.7%, steady but not accelerating.
Net debt of $1.91B represents 12.3x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$3.80B
▲ +4.7% YoY
Net Income (TTM)
$165M
▼ -5.3% YoY
Op. Margin
5.01%
ROIC
6.79%
▼ -0.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$172M
▲ +43.6% YoY
Op. Cash Flow (TTM)
$319M
▲ +12.3% YoY
Net Debt
$1.91B
Cash & Equiv.
$235M
5Y CAGR: +13.6%
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