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Chagee vs Shake Shack: revenue, profit, margins and growth compared

Chagee brought in $1.8B of revenue in fiscal 2025, Shake Shack $1.4B in fiscal 2025. Chagee kept 9.1% of its revenue as net profit, Shake Shack 3.2%. Free cash flow was $175.5M at Chagee and $56.5M at Shake Shack.

Side by side, latest fiscal year

CHASHAK
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$1.8B$1.4B
Revenue growthn/a+15.4%
Net income$167.5M$45.7M
Net margin9.1%3.2%
Free cash flow$175.5M$56.5M
Free cash flow margin9.5%3.9%
Earnings per share (diluted)$0.88$1.09
Cash$1.1B$360.1M
Debtn/a$247.7M
Price to earningsn/a51.0
Market value$2.2B$2.4B
Dividend yieldn/an/a
Rank by revenue in sector#368 of 778 · Consumer discretionary#404 of 778 · Consumer discretionary

Over the years

Revenue
CHA FY2025: $1.8BSHAK FY2018: $459.3MSHAK FY2019: $594.5MSHAK FY2020: $522.9MSHAK FY2021: $739.9MSHAK FY2022: $900.5MSHAK FY2023: $1.1BSHAK FY2024: $1.3BSHAK FY2025: $1.4BFY18FY19FY20FY21FY22FY23FY24FY25
CHA $1.8BSHAK $1.4B
Net income
CHA FY2025: $167.5MSHAK FY2018: $15.2MSHAK FY2019: $19.8MSHAK FY2020: -$42.2MSHAK FY2021: -$4.6MSHAK FY2022: -$21.2MSHAK FY2023: $20.3MSHAK FY2024: $10.2MSHAK FY2025: $45.7MFY18FY19FY20FY21FY22FY23FY24FY25
CHA $167.5MSHAK $45.7M
Net margin
CHA FY2025: 9.1%SHAK FY2018: 3.3%SHAK FY2019: 3.3%SHAK FY2020: -8.1%SHAK FY2021: -0.6%SHAK FY2022: -2.4%SHAK FY2023: 1.9%SHAK FY2024: 0.8%SHAK FY2025: 3.2%FY18FY19FY20FY21FY22FY23FY24FY25
CHA 9.1%SHAK 3.2%
Revenue growth
SHAK FY2019: +29.4%SHAK FY2020: -12.1%SHAK FY2021: +41.5%SHAK FY2022: +21.7%SHAK FY2023: +20.8%SHAK FY2024: +15.2%SHAK FY2025: +15.4%FY19FY20FY21FY22FY23FY24FY25
CHASHAK +15.4%
Free cash flow
CHA FY2025: $175.5MSHAK FY2018: -$2.1MSHAK FY2019: -$16.7MSHAK FY2020: -$31.7MSHAK FY2021: -$43.1MSHAK FY2022: -$65.8MSHAK FY2023: -$14MSHAK FY2024: $35.7MSHAK FY2025: $56.5MFY18FY19FY20FY21FY22FY23FY24FY25
CHA $175.5MSHAK $56.5M

Fiscal years as each company reports them; the two may end in different months.

Questions about Chagee and Shake Shack

Which is bigger by revenue, Chagee or Shake Shack?

Chagee is bigger by revenue: $1.8B in fiscal 2025, against $1.4B for Shake Shack in fiscal 2025.

Which keeps more of its revenue as profit, Chagee or Shake Shack?

Chagee had a net margin of 9.1% in fiscal 2025; Shake Shack had 3.2% in fiscal 2025.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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