SHAK Shake Shack margins

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  2. Consumer Cyclical
  3. NYSE: SHAK
  4. Margins
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Relative Growth: Rel. Growth:
Relative Strength: Rel. Strength:
Relative Valuation: Rel. Valuation:
Relative Profitability: Rel. Profitability: 49
Gross margin
65.1%
Operating margin
3.6%
EBITDA margin
17.9%
Net margin
2.7%

For the latest period, Shake Shack has a gross margin of 65.1%, an operating margin of 3.6%, an EBITDA margin of 17.9%, and a net margin of 2.7%. The company's available margins all deteriorated, with EBITDA margin reporting the strongest contraction of 0.7 percentage points.

SHAK margin history

Gross, operating, EBITDA and net margin trends

Shake Shack's margins averaged 65.13% gross, 1.93% operating, 17.05% EBITDA, and 2.06% net over the last 3 years. The current figures show operating, EBITDA, and net margins are above their three-year averages, while gross margin is below its three-year average.

SHAK margin expansion

Year-over-year margin changes in percentage points

EBITDA margin led the decline, falling by 0.7 percentage points, while the other available margins also decreased.

Gross margin expansion
-0.2pp
Operating margin expansion
-0.3pp
EBITDA margin expansion
-0.7pp
Net margin expansion
-0.4pp

SHAK Gross margin

Shake Shack recorded an average gross margin of 65.13% across the last 3 years. Shake Shack currently reports a gross margin of 65.1%, 0 percentage points below its three-year average. Over the last 3 years, Shake Shack's gross margin peaked at 65.6% in Jun 2025 and reached a low of 64.6% in Dec 2023.

SHAK Operating margin

The average operating margin for Shake Shack was 1.93% in the last 3 years. As of the latest period, the current operating margin for Shake Shack is 3.6%, 1.7 percentage points above its three-year average. The operating margin for Shake Shack moved between -0.7% in Sep 2024 and 4.3% in Dec 2025.

SHAK EBITDA margin

The average EBITDA margin for Shake Shack was 17.05% in the last 3 years. Currently, the current EBITDA margin for Shake Shack is 17.9%, 0.9 percentage points above its three-year average. The EBITDA margin for Shake Shack moved between 15.2% in Sep 2024 and 18.6% in Dec 2025.

SHAK Net margin

Shake Shack recorded an average net margin of 2.06% across the last 3 years. Shake Shack currently reports a net margin of 2.7%, 0.6 percentage points above its three-year average. Over the last 3 years, Shake Shack's net margin peaked at 3.2% in Dec 2025 and reached a low of 0.7% in Sep 2024.

SHAK margin group comparison

Margins compared with peer-group, industry and sector averages

Shake Shack's gross margin of 65.1% is higher than the Consumer Cyclical sector and the industry average. In comparison with the Consumer Cyclical sector average of 36.3%, Shake Shack's gross margin is 79% higher.

SHAK margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Shake Shack's gross margin?

The current gross margin for SHAK is 65.1% as of Sep 30, 2026.

What is Shake Shack's operating margin?

The current operating margin for SHAK is 3.6% as of Sep 30, 2026.

What is Shake Shack's EBITDA margin?

As of Sep 30, 2026, SHAK has an EBITDA margin of 17.9%.

What is Shake Shack's net margin?

The current net margin for SHAK is 2.7% as of Sep 30, 2026.

What are the average margins of SHAK?

Across the last 3 years, SHAK averaged 65.1% gross, 1.9% operating, 17.1% EBITDA, and 2.1% net.

What are the highest historical margins of SHAK?

In the last 5 years, the highest margins reported by SHAK were 65.6% gross in Jun 2025, 4.3% operating in Dec 2025, 18.6% EBITDA in Dec 2025, and 3.2% net in Dec 2025.

What are the lowest historical margins of SHAK?

Looking back across 5 years, SHAK reached its lowest margins at 62.5% gross in Dec 2021, -3.1% operating in Sep 2022, 11.9% EBITDA in Jun 2022, and -2.4% net in Dec 2022.