The Cheesecake Factory (CAKE) - Net Assets
Latest as of December 2025: $436.43 Million USD
Based on the latest financial reports, The Cheesecake Factory (CAKE) has net assets worth $436.43 Million USD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($3.26 Billion) and total liabilities ($2.83 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Explore The Cheesecake Factory cash conversion from operations to assess how effectively this company generates cash.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $436.43 Million |
| % of Total Assets | 13.38% |
| Annual Growth Rate | 9.31% |
| 5-Year Change | 37.21% |
| 10-Year Change | -13.91% |
| Growth Volatility | 21.13 |
The Cheesecake Factory - Net Assets Trend (1992–2025)
This chart illustrates how The Cheesecake Factory's net assets have evolved over time, based on quarterly financial data. Explore The Cheesecake Factory (CAKE) investment intensity to see how much of total assets are deployed in long-term investments.
Annual Net Assets for The Cheesecake Factory (1992–2025)
The table below shows the annual net assets of The Cheesecake Factory from 1992 to 2025. For live valuation and market cap data, see CAKE stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $436.43 Million | -1.58% |
| 2025-01-31 | $443.45 Million | 0.00% |
| 2024-12-31 | $443.45 Million | +39.42% |
| 2024-01-31 | $318.06 Million | 0.00% |
| 2023-12-31 | $318.06 Million | +8.92% |
| 2023-01-31 | $292.00 Million | 0.00% |
| 2022-12-31 | $292.00 Million | -11.56% |
| 2022-01-31 | $330.17 Million | 0.00% |
| 2021-12-31 | $330.17 Million | -34.87% |
| 2021-01-31 | $506.94 Million | 0.00% |
| 2020-12-31 | $506.94 Million | -11.33% |
| 2020-01-31 | $571.74 Million | 0.00% |
| 2019-12-31 | $571.74 Million | +0.12% |
| 2019-01-31 | $571.06 Million | 0.00% |
| 2018-12-31 | $571.06 Million | -6.92% |
| 2018-01-31 | $613.53 Million | 0.00% |
| 2017-12-31 | $613.53 Million | +1.71% |
| 2017-01-31 | $603.21 Million | 0.00% |
| 2016-12-31 | $603.21 Million | +2.49% |
| 2016-01-31 | $588.54 Million | 0.00% |
| 2015-12-31 | $588.54 Million | +5.76% |
| 2015-01-31 | $556.51 Million | 0.00% |
| 2014-12-31 | $556.51 Million | -3.61% |
| 2014-01-31 | $577.35 Million | 0.00% |
| 2013-12-31 | $577.35 Million | -0.41% |
| 2013-01-31 | $579.73 Million | 0.00% |
| 2012-12-31 | $579.73 Million | +6.81% |
| 2012-01-31 | $542.75 Million | 0.00% |
| 2011-12-31 | $542.75 Million | -8.37% |
| 2011-01-31 | $592.34 Million | 0.00% |
| 2010-12-31 | $592.34 Million | +14.77% |
| 2010-01-31 | $516.11 Million | 0.00% |
| 2009-12-31 | $516.11 Million | +14.04% |
| 2009-01-31 | $452.57 Million | 0.00% |
| 2008-12-31 | $452.57 Million | -19.60% |
| 2008-01-31 | $562.93 Million | 0.00% |
| 2007-12-31 | $562.93 Million | -20.89% |
| 2007-01-31 | $711.54 Million | 0.00% |
| 2006-12-31 | $711.54 Million | +9.86% |
| 2006-01-31 | $647.70 Million | 0.00% |
| 2005-12-31 | $647.70 Million | +19.31% |
| 2005-01-31 | $542.85 Million | 0.00% |
| 2004-12-31 | $542.85 Million | +18.55% |
| 2004-01-31 | $457.90 Million | 0.00% |
| 2003-12-31 | $457.90 Million | +20.64% |
| 2003-01-31 | $379.56 Million | 0.00% |
| 2002-12-31 | $379.56 Million | +31.12% |
| 2002-01-31 | $289.47 Million | 0.00% |
| 2001-12-31 | $289.47 Million | +20.19% |
| 2001-01-31 | $240.84 Million | 0.00% |
| 2000-12-31 | $240.84 Million | +29.76% |
| 2000-01-31 | $185.60 Million | 0.00% |
| 1999-12-31 | $185.60 Million | +15.79% |
| 1999-01-31 | $160.29 Million | 0.00% |
| 1998-12-31 | $160.29 Million | +5.08% |
| 1998-01-31 | $152.54 Million | 0.00% |
| 1997-12-31 | $152.54 Million | +82.66% |
| 1997-01-31 | $83.51 Million | 0.00% |
| 1996-12-31 | $83.51 Million | +9.60% |
| 1996-01-31 | $76.20 Million | 0.00% |
| 1995-12-31 | $76.20 Million | +18.51% |
| 1995-01-31 | $64.30 Million | 0.00% |
| 1994-12-31 | $64.30 Million | +125.61% |
| 1994-01-31 | $28.50 Million | 0.00% |
| 1993-12-31 | $28.50 Million | +23.38% |
| 1993-01-31 | $23.10 Million | 0.00% |
| 1992-12-31 | $23.10 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to The Cheesecake Factory's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 78396.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $1.41 Billion | 323.75% |
| Common Stock | $1.09 Million | 0.25% |
| Other Comprehensive Income | $-1.04 Million | -0.24% |
| Total Equity | $436.43 Million | 100.00% |
The Cheesecake Factory Competitors by Market Cap
The table below lists competitors of The Cheesecake Factory ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Hercules Capital Inc
NYSE:HTGC
|
$2.82 Billion |
|
Valeo SA
PA:FR
|
$2.82 Billion |
|
Emerald Resources NL
AU:EMR
|
$2.82 Billion |
|
NetScout Systems Inc
NASDAQ:NTCT
|
$2.82 Billion |
|
Black Stone Minerals LP
NYSE:BSM
|
$2.82 Billion |
|
MultiChoice Group Ltd
JSE:MCG
|
$2.82 Billion |
|
Hand Enterprise Solutions Co
SHE:300170
|
$2.82 Billion |
|
Shanghai Beite Technology Co
SHG:603009
|
$2.82 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in The Cheesecake Factory's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2025 to 2025, total equity changed from 443,455,000 to 436,427,000, a change of -7,028,000 (-1.6%).
- Net income of 148,427,000 contributed positively to equity growth.
- Dividend payments of 52,192,000 reduced retained earnings.
- Share repurchases of 153,896,000 reduced equity.
- Other comprehensive income increased equity by 568,000.
- Other factors increased equity by 50,065,000.
Equity Change Factors (2025 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $148.43 Million | +34.01% |
| Dividends Paid | $52.19 Million | -11.96% |
| Share Repurchases | $153.90 Million | -35.26% |
| Other Comprehensive Income | $568.00K | +0.13% |
| Other Changes | $50.06 Million | +11.47% |
| Total Change | $- | -1.58% |
Book Value vs Market Value Analysis
This analysis compares The Cheesecake Factory's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 7.19x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 102.09x to 7.19x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1992-12-31 | $0.64 | $64.95 | x |
| 1993-01-31 | $0.64 | $64.95 | x |
| 1993-12-31 | $0.62 | $64.95 | x |
| 1994-01-31 | $0.62 | $64.95 | x |
| 1994-12-31 | $1.21 | $64.95 | x |
| 1995-01-31 | $1.21 | $64.95 | x |
| 1995-12-31 | $1.36 | $64.95 | x |
| 1996-01-31 | $1.36 | $64.95 | x |
| 1996-12-31 | $1.49 | $64.95 | x |
| 1997-01-31 | $1.49 | $64.95 | x |
| 1997-12-31 | $2.64 | $64.95 | x |
| 1998-01-31 | $2.64 | $64.95 | x |
| 1998-12-31 | $2.31 | $64.95 | x |
| 1999-01-31 | $2.31 | $64.95 | x |
| 1999-12-31 | $2.60 | $64.95 | x |
| 2000-01-31 | $2.60 | $64.95 | x |
| 2000-12-31 | $3.20 | $64.95 | x |
| 2001-01-31 | $3.20 | $64.95 | x |
| 2001-12-31 | $3.87 | $64.95 | x |
| 2002-01-31 | $3.87 | $64.95 | x |
| 2002-12-31 | $4.95 | $64.95 | x |
| 2003-01-31 | $4.95 | $64.95 | x |
| 2003-12-31 | $5.89 | $64.95 | x |
| 2004-01-31 | $5.89 | $64.95 | x |
| 2004-12-31 | $6.84 | $64.95 | x |
| 2005-01-31 | $6.84 | $64.95 | x |
| 2005-12-31 | $8.08 | $64.95 | x |
| 2006-01-31 | $8.08 | $64.95 | x |
| 2006-12-31 | $8.95 | $64.95 | x |
| 2007-01-31 | $8.95 | $64.95 | x |
| 2007-12-31 | $7.66 | $64.95 | x |
| 2008-01-31 | $7.66 | $64.95 | x |
| 2008-12-31 | $7.07 | $64.95 | x |
| 2009-01-31 | $7.07 | $64.95 | x |
| 2009-12-31 | $8.59 | $64.95 | x |
| 2010-01-31 | $8.59 | $64.95 | x |
| 2010-12-31 | $9.80 | $64.95 | x |
| 2011-01-31 | $9.80 | $64.95 | x |
| 2011-12-31 | $9.33 | $64.95 | x |
| 2012-01-31 | $9.33 | $64.95 | x |
| 2012-12-31 | $10.50 | $64.95 | x |
| 2013-01-31 | $10.50 | $64.95 | x |
| 2013-12-31 | $10.62 | $64.95 | x |
| 2014-01-31 | $10.62 | $64.95 | x |
| 2014-12-31 | $10.79 | $64.95 | x |
| 2015-01-31 | $10.79 | $64.95 | x |
| 2015-12-31 | $11.63 | $64.95 | x |
| 2016-01-31 | $11.63 | $64.95 | x |
| 2016-12-31 | $12.22 | $64.95 | x |
| 2017-01-31 | $12.22 | $64.95 | x |
| 2017-12-31 | $12.74 | $64.95 | x |
| 2018-01-31 | $12.74 | $64.95 | x |
| 2018-12-31 | $12.36 | $64.95 | x |
| 2019-01-31 | $12.36 | $64.95 | x |
| 2019-12-31 | $12.84 | $64.95 | x |
| 2020-01-31 | $12.84 | $64.95 | x |
| 2020-12-31 | $11.56 | $64.95 | x |
| 2021-01-31 | $11.56 | $64.95 | x |
| 2021-12-31 | $6.81 | $64.95 | x |
| 2022-01-31 | $6.81 | $64.95 | x |
| 2022-12-31 | $5.79 | $64.95 | x |
| 2023-01-31 | $5.79 | $64.95 | x |
| 2023-12-31 | $6.48 | $64.95 | x |
| 2024-01-31 | $6.48 | $64.95 | x |
| 2024-12-31 | $9.05 | $64.95 | x |
| 2025-01-31 | $9.05 | $64.95 | x |
| 2025-12-31 | $9.03 | $64.95 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently The Cheesecake Factory utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 34.01%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 3.96%
- • Asset Turnover: 1.15x
- • Equity Multiplier: 7.47x
- Recent ROE (34.01%) is above the historical average (14.19%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1992 | 18.18% | 8.08% | 1.89x | 1.19x | $1.89 Million |
| 1993 | 18.18% | 8.08% | 1.89x | 1.19x | $1.89 Million |
| 1993 | 16.49% | 7.01% | 1.96x | 1.20x | $1.85 Million |
| 1994 | 16.49% | 7.01% | 1.96x | 1.20x | $1.85 Million |
| 1994 | 11.20% | 8.41% | 1.17x | 1.14x | $770.00K |
| 1995 | 11.20% | 8.41% | 1.17x | 1.14x | $770.00K |
| 1995 | 11.29% | 7.34% | 1.28x | 1.20x | $980.00K |
| 1996 | 11.29% | 7.34% | 1.28x | 1.20x | $980.00K |
| 1996 | 7.08% | 3.69% | 1.48x | 1.30x | $-2.44 Million |
| 1997 | 7.08% | 3.69% | 1.48x | 1.30x | $-2.44 Million |
| 1997 | 6.52% | 4.76% | 1.16x | 1.18x | $-5.32 Million |
| 1998 | 6.52% | 4.76% | 1.16x | 1.18x | $-5.32 Million |
| 1998 | 4.79% | 2.90% | 1.43x | 1.16x | $-8.35 Million |
| 1999 | 4.79% | 2.90% | 1.43x | 1.16x | $-8.35 Million |
| 1999 | 11.69% | 6.24% | 1.57x | 1.20x | $3.14 Million |
| 2000 | 11.69% | 6.24% | 1.57x | 1.20x | $3.14 Million |
| 2000 | 13.33% | 7.32% | 1.52x | 1.20x | $8.02 Million |
| 2001 | 13.33% | 7.32% | 1.52x | 1.20x | $8.02 Million |
| 2001 | 13.58% | 7.29% | 1.51x | 1.23x | $10.36 Million |
| 2002 | 13.58% | 7.29% | 1.51x | 1.23x | $10.36 Million |
| 2002 | 12.93% | 7.53% | 1.41x | 1.22x | $11.12 Million |
| 2003 | 12.93% | 7.53% | 1.41x | 1.22x | $11.12 Million |
| 2003 | 12.63% | 7.47% | 1.32x | 1.28x | $12.05 Million |
| 2004 | 12.63% | 7.47% | 1.32x | 1.28x | $12.05 Million |
| 2004 | 12.26% | 6.87% | 1.28x | 1.40x | $12.25 Million |
| 2005 | 12.26% | 6.87% | 1.28x | 1.40x | $12.25 Million |
| 2005 | 13.52% | 7.43% | 1.27x | 1.43x | $22.78 Million |
| 2006 | 13.52% | 7.43% | 1.27x | 1.43x | $22.78 Million |
| 2006 | 11.42% | 6.18% | 1.27x | 1.46x | $10.13 Million |
| 2007 | 11.42% | 6.18% | 1.27x | 1.46x | $10.13 Million |
| 2007 | 13.14% | 4.89% | 1.32x | 2.04x | $17.67 Million |
| 2008 | 13.14% | 4.89% | 1.32x | 2.04x | $17.67 Million |
| 2008 | 11.55% | 3.26% | 1.41x | 2.52x | $7.04 Million |
| 2009 | 11.55% | 3.26% | 1.41x | 2.52x | $7.04 Million |
| 2009 | 8.30% | 2.67% | 1.53x | 2.03x | $-8.78 Million |
| 2010 | 8.30% | 2.67% | 1.53x | 2.03x | $-8.78 Million |
| 2010 | 13.80% | 4.92% | 1.61x | 1.74x | $22.48 Million |
| 2011 | 13.80% | 4.92% | 1.61x | 1.74x | $22.48 Million |
| 2011 | 17.64% | 5.45% | 1.72x | 1.88x | $41.44 Million |
| 2012 | 17.64% | 5.45% | 1.72x | 1.88x | $41.44 Million |
| 2012 | 16.98% | 5.44% | 1.66x | 1.88x | $40.45 Million |
| 2013 | 16.98% | 5.44% | 1.66x | 1.88x | $40.45 Million |
| 2013 | 19.81% | 6.09% | 1.67x | 1.95x | $56.62 Million |
| 2014 | 19.81% | 6.09% | 1.67x | 1.95x | $56.62 Million |
| 2014 | 18.20% | 5.12% | 1.68x | 2.11x | $45.62 Million |
| 2015 | 18.20% | 5.12% | 1.68x | 2.11x | $45.62 Million |
| 2015 | 19.80% | 5.55% | 1.70x | 2.10x | $57.67 Million |
| 2016 | 19.80% | 5.55% | 1.70x | 2.10x | $57.67 Million |
| 2016 | 23.13% | 6.13% | 1.76x | 2.14x | $79.17 Million |
| 2017 | 23.13% | 6.13% | 1.76x | 2.14x | $79.17 Million |
| 2017 | 25.65% | 6.96% | 1.70x | 2.17x | $96.04 Million |
| 2018 | 25.65% | 6.96% | 1.70x | 2.17x | $96.04 Million |
| 2018 | 17.34% | 4.25% | 1.77x | 2.30x | $41.93 Million |
| 2019 | 17.34% | 4.25% | 1.77x | 2.30x | $41.93 Million |
| 2019 | 22.26% | 5.13% | 0.87x | 4.97x | $70.12 Million |
| 2020 | 22.26% | 5.13% | 0.87x | 4.97x | $70.12 Million |
| 2020 | -49.98% | -12.78% | 0.72x | 5.42x | $-304.06 Million |
| 2021 | -49.98% | -12.78% | 0.72x | 5.42x | $-304.06 Million |
| 2021 | 21.92% | 2.47% | 1.05x | 8.47x | $39.36 Million |
| 2022 | 21.92% | 2.47% | 1.05x | 8.47x | $39.36 Million |
| 2022 | 14.77% | 1.31% | 1.19x | 9.50x | $13.92 Million |
| 2023 | 14.77% | 1.31% | 1.19x | 9.50x | $13.92 Million |
| 2023 | 31.87% | 2.95% | 1.21x | 8.93x | $69.54 Million |
| 2024 | 31.87% | 2.95% | 1.21x | 8.93x | $69.54 Million |
| 2024 | 35.35% | 4.38% | 1.18x | 6.86x | $112.44 Million |
| 2025 | 35.35% | 4.38% | 1.18x | 6.86x | $112.44 Million |
| 2025 | 34.01% | 3.96% | 1.15x | 7.47x | $104.78 Million |
Industry Comparison
This section compares The Cheesecake Factory's net assets metrics with peer companies in the Restaurants industry.
Industry Context
- Industry: Restaurants
- Average net assets among peers: $143,106,700
- Average return on equity (ROE) among peers: 16.73%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| The Cheesecake Factory (CAKE) | $436.43 Million | 18.18% | 6.47x | $2.82 Billion |
| Arcos Dorados Holdings Inc (ARCO) | $695.30 Million | 7.75% | 2.14x | $1.16 Billion |
| Ark Restaurants Corp (ARKR) | $8.50 Million | 8.24% | 0.59x | $23.22 Million |
| Flanigans Enterprises Inc (BDL) | $19.65 Million | 6.45% | 0.54x | $56.74 Million |
| BurgerFi International, Inc. (BFICQ) | $78.95 Million | -131.01% | 2.51x | $2.74K |
| Biglari Holdings Inc (BH) | $42.60 Million | 23.47% | 1.34x | $591.34 Million |
| Biglari Holdings Inc (BH-A) | $283.58 Million | -8.10% | 0.83x | $307.94 Million |
| BJs Restaurants Inc (BJRI) | $202.86 Million | 4.85% | 0.23x | $897.42 Million |
| Bloomin Brands Inc (BLMN) | $40.30 Million | 248.17% | 82.23x | $695.19 Million |
| Black Rock Coffee Bar, Inc. Class A Common Stock (BRCB) | $-16.66 Million | 0.00% | 0.00x | $150.99 Million |
| Dutch Bros Inc (BROS) | $75.99 Million | 7.53% | 2.42x | $7.67 Billion |
About The Cheesecake Factory
NASDAQ:CAKE
USA
Restaurants
Market Cap
$3.24 Billion
Market Cap Rank
#5232 Global
#1673 in USA
Share Price
$64.95
Change (1 day)
+0.50%
52-Week Range
$43.14 - $68.51
All Time High
$68.51
Categories
About
The Cheesecake Factory Incorporated operates and licenses restaurants in the United States and Canada. It operates bakeries that produce cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors. The company operates restaurants under the brands comprising The Cheesecake Factory, Nor… Read more