Shake Shack Inc. logo SHAK - Shake Shack Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
1
BUY 18
HOLD 17
SELL 1
STRONG
SELL
0
| PRICE TARGET: $104.60 DETAILS
HIGH: $148.00
LOW: $76.00
MEDIAN: $100.00
CONSENSUS: $104.60
UPSIDE: 66.77%
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 2013 Q1
Revenue
Revenue 366.7 400.5 367.4 356.5 320.9 328.7 316.9 316.5 290.5 286.2 276.2 271.8 253.3 238.5 227.8 230.8 203.4 203.3 193.9 187.5 155.3 157.5 130.4 91.8 143.2 151.4 157.8 152.7 132.6 124.3 119.6 116.3 99.1 96.1 94.6 91.3 76.7 73.3 74.6 66.5 54.2 51.1 53.3 48.5 37.8 34.8 31.8 27.7 24.2 23.0 22.8 18.4 18.4
Cost of Revenue 192.7 636.6 191.5 184.7 172.7 173.7 171.6 171.7 161.8 158.9 153.4 151.0 146.0 134.3 132.4 131.8 120.3 118.7 116.1 107.5 91.0 92.1 75.8 61.0 81.3 85.0 85.8 83.1 75.1 69.2 63.9 61.4 53.6 51.7 49.6 47.1 41.6 39.1 38.6 33.4 28.2 26.7 27.1 24.9 20.1 19.4 17.0 14.7 13.2 12.6 13.8 11.2 11.2
Gross Profit 174.0 (236.1) 175.9 171.8 148.2 155.0 145.3 144.8 128.7 127.4 122.8 120.8 107.2 104.2 95.4 98.9 83.0 84.6 77.8 79.9 64.3 65.5 54.6 30.8 61.8 66.4 72.0 69.6 57.5 55.1 55.7 54.9 45.5 44.4 45.0 44.2 35.1 34.1 36.0 33.1 26.0 24.3 26.2 23.6 17.7 15.4 14.8 13.1 11.0 10.4 9.0 7.1 7.1
Operating Expenses
R&D Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
SG&A Expenses 82.3 0.3 44.4 66.3 65.3 65.1 59.3 59.5 58.1 57.0 51.2 51.3 49.9 50.0 44.3 46.1 47.6 41.4 35.1 35.2 33.5 32.7 28.1 26.3 28.7 32.4 29.6 27.3 24.8 24.3 21.7 20.0 19.5 19.1 16.7 16.7 14.6 14.6 13.9 12.7 11.2 11.6 9.9 9.9 21.6 9.0 7.9 5.9 5.3 5.3 5.5 2.7 2.7
Other Expenses 86.6 (262.2) 113.0 83.1 80.1 79.6 104.0 74.5 70.6 71.7 65.9 64.8 60.5 60.5 56.0 53.6 50.4 49.7 45.3 41.4 40.8 45.0 33.3 28.6 33.9 33.5 34.2 30.5 27.5 28.0 24.7 21.9 19.5 19.5 17.7 15.7 14.8 14.6 12.9 11.5 10.1 9.1 8.4 7.4 7.1 7.4 6.2 5.1 4.5 3.9 0 0 0
Operating Expenses 168.9 (261.8) 157.4 149.4 145.4 144.8 163.3 134.0 128.7 128.7 117.1 116.1 110.4 110.5 100.2 99.7 98.0 91.1 80.4 76.6 74.3 77.7 61.4 54.9 62.6 65.9 63.8 57.7 52.4 52.2 46.4 41.9 39.0 38.6 34.4 32.4 29.5 29.2 26.8 24.2 21.3 20.7 18.4 17.3 28.7 16.4 14.1 10.9 9.8 9.3 8.4 5.0 5.0
Operating Income
Operating Income 5.1 25.7 18.5 22.4 2.8 10.2 (18.0) 10.8 0.0 (1.3) 5.7 4.7 (3.2) (6.3) (4.8) (0.8) (14.9) (6.5) (2.6) 3.3 (10.0) (12.2) (6.8) (24.1) (0.8) 0.5 8.2 11.9 5.2 2.8 9.3 13.0 6.5 5.8 10.6 11.7 5.6 5.0 9.2 8.9 4.7 3.7 7.8 6.2 (10.9) (1.0) 0.8 2.1 1.2 1.1 0.6 2.1 2.1
Interest Expense 0.5 3.8 0.5 0.5 0.6 0.5 0.5 0.5 0.5 0.5 0.4 0.4 0.4 0.4 0.5 0.3 0.4 0.4 0.3 0.4 0.5 0.1 0.1 0.4 0.1 0.1 0.1 0.1 0.1 0.6 0.6 0.6 0.6 0.5 0.5 0.4 0.3 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0 0 0
Interest Income 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0 0 0.0 0.0 0.0 0 0.0 0.0 0.0 0 0 0 0 0 0 0 0 0 0.0 0.0 0.0
Profitability
EBITDA 29.7 50.1 49.2 52.3 33.0 39.8 11.8 40.1 29.2 27.0 32.7 30.7 21.4 15.7 15.7 18.2 2.0 9.4 12.9 18.2 4.0 (0.4) 6.1 (11.2) 11.1 12.8 19.0 22.1 14.7 11.4 17.2 20.4 13.2 139.4 16.4 17.2 10.6 10.1 13.0 12.4 7.8 8.0 10.4 8.7 (7.3) 3.1 4.0 4.6 3.4 2.8 1.5 2.9 2.9
EBIT 0.1 25.3 21.7 25.2 5.8 13.5 (14.5) 14.1 3.2 2.0 9.1 8.0 (0.4) (3.9) (3.3) (0.3) (15.2) (6.6) (2.6) 3.4 (10.0) (13.3) (6.8) (23.7) (0.9) 1.5 8.4 12.3 5.7 3.3 9.8 13.4 6.7 133.3 10.8 11.9 5.8 5.9 9.3 9.0 4.7 5.0 7.8 6.2 (9.5) 1.4 2.5 3.3 2.2 1.7 0.6 2.1 2.1
Income Before Tax (0.4) 21.5 21.1 24.7 5.2 12.9 (15.0) 13.6 2.7 1.5 8.7 7.6 (0.8) (4.3) (3.8) (0.6) (15.6) (6.9) (3.0) 3.1 (10.5) (13.5) (6.9) (24.1) (1.0) 1.4 8.3 12.2 5.7 2.6 9.2 12.8 6.2 132.8 10.4 11.6 5.5 5.7 9.2 8.9 4.7 3.6 7.7 6.2 (11.0) (1.1) 0.6 2.1 1.2 1.1 0.6 2.1 2.1
Income Tax Expense (0.1) 8.5 7.4 6.2 0.7 3.6 (3.9) 3.2 0.5 (5.8) 0.5 0.3 0.9 6.8 (1.5) 0.7 (4.3) 3.4 (0.6) 1.0 (11.1) 6.9 (0.8) (6.1) 0.1 3.4 (3.1) 1.1 2.0 3.2 2.2 2.2 1.2 143.9 2.5 3.4 1.7 0.3 2.4 2.3 1.3 0.5 1.5 1.0 0.2 0.3 0.1 0.1 0.1 0.1 0.2 0.1 0.1
Net Income (0.3) 11.8 12.5 17.1 4.2 8.7 (10.2) 9.7 2.0 7.2 7.6 6.9 (1.5) (10.7) (2.0) (1.2) (10.2) (9.7) (2.2) 1.9 1.3 (19.4) (5.6) (16.2) (1.0) (2.1) 10.3 9.0 2.5 (1.0) 5.0 7.6 3.5 (12.5) 5.0 4.9 2.3 3.9 3.8 3.3 1.5 1.2 1.5 1.1 (12.7) (1.4) 0.5 1.9 1.1 1.0 0.4 2.0 2.0
Per Share Data
EPS (Basic) -0.01 0.29 0.31 0.43 0.11 0.22 -0.26 0.24 0.05 0.17 0.19 0.18 -0.04 -0.28 -0.05 -0.03 -0.29 -0.25 -0.06 0.05 0.03 -0.52 -0.15 -0.43 -0.03 -0.06 0.32 0.30 0.09 -0.03 0.17 0.27 0.13 -0.55 0.19 0.19 0.09 0.16 0.16 0.15 0.07 0.08 0.11 0.09 -1.06 -0.13 0.40 1.56 0.87 0.83 0.36 1.61 1.60
EPS (Diluted) -0.01 0.28 0.30 0.41 0.10 0.21 -0.26 0.23 0.05 0.15 0.19 0.16 -0.04 -0.28 -0.05 -0.03 -0.29 -0.25 -0.06 0.05 0.01 -0.52 -0.15 -0.43 -0.03 -0.06 0.31 0.29 0.08 -0.03 0.17 0.26 0.13 -0.55 0.19 0.19 0.09 0.15 0.15 0.14 0.07 0.07 0.10 0.08 -1.06 -0.13 0.40 1.56 0.87 0.83 0.36 1.61 1.60
Shares Outstanding 40.3 40.2 40.2 40.1 40.1 40.0 40.0 39.8 39.5 39.5 39.5 39.4 39.3 39.3 39.3 39.2 39.1 39.1 39.1 39.1 38.9 37.1 37.1 37.3 34.4 33.9 32.0 30.1 29.6 29.4 29.0 27.8 27.0 26.3 26.0 25.8 25.4 24.9 24.0 22.6 20.4 16.6 14.3 12.1 12.0 11.2 1.3 1.3 1.3 1.2 1.2 1.2 1.2
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1
Current Assets
Cash & Cash Equivalents 313.6 360.1 357.8 336.8 312.9 320.7 310.9 301.8 260.2 224.7 190.0 203.7 293.4 230.5 257.0 278.3 279.3 302.4 321.4 340.1 375.0 146.9 174.9 174.0 87.8 37.1 44.5 29.7 31.9 24.8 29.3 30.9 26.6 21.5 26.9 22.4 15.7 11.6 12.2 68.4 65.9
Short-Term Investments 0 0 0 0 0 0 0 2.6 24.6 68.6 95.0 91.5 0 80.7 80.0 79.6 79.7 80 80.1 80.1 40.9 36.9 16.9 16.8 16.4 36.5 36.3 36.1 0 0 0 0 0 0 0 63.1 57.8 0 0 0 0
Net Receivables 273.8 277.4 37.5 36.8 33.5 19.7 27.8 28.4 26.8 29.0 13.9 14.3 14.2 13.9 11.8 11.9 11.8 13.7 11.3 11.7 8.8 9.5 7.7 8.3 6.8 10.0 15.1 13.7 8.9 10.5 9.3 7.1 5.0 5.6 5.1 5.1 5.0 6.0 4.5 3.1 3.3
Inventory 6.6 7.2 6.3 6.0 5.3 6.0 5.1 5.2 5.1 5.4 4.6 4.7 4.4 4.2 4.0 4.0 3.8 3.9 3.5 3.6 2.7 2.9 2.4 2.3 2.0 2.2 1.8 1.7 1.6 1.7 1.4 1.2 1.2 1.3 1.1 1.0 0.9 0.8 0.8 0.6 0.6
Other Current Assets (200.2) (214.4) 0.8 0.8 0.8 0.8 0.9 1.4 1.3 1.2 0 0 0 14.7 0 0 0 9.8 0 0 0 7.1 0 0 0 1.9 0 0 0 0 0 0 0 1.8 0 0 0 3.1 0 (0.0) 0
Total Current Assets 393.9 430.3 414.8 390.8 364.6 368.2 354.0 345.7 326.2 334.4 323.2 329.5 330.1 344.0 367.1 387.6 386.6 409.7 419.2 438.2 435.3 203.2 204.5 204.1 115.4 87.7 99.4 86.9 92.4 101.1 103.9 102.1 95.6 93.2 98.5 93.2 83.8 83.9 81.9 75.9 73.4
Non-Current Assets
Property, Plant & Equipment 1,188.5 1,133.1 1,066.2 1,030.9 1,005.0 976.2 964.5 964.8 947.9 929.3 923.4 885.5 859.1 834.5 812.4 772.5 745.1 736.7 708.9 682.9 660.7 642.9 631.7 620.8 631.3 589.3 584.3 543.9 504.6 261.9 241.7 216.8 199.9 187.1 174.7 160.4 147.5 136.3 123.1 111.3 102.3
Goodwill 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 0 2.0 0 0 0 2.0 0 0 0 0 0 0 0 1.8 0 0 0 1.5 0 0 0 1.4 0 0 0 1.4 0 0 0 1.2 0 0 0 0.9 0 0 0 0.7 0 0 0
Long-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 (1.8) 0 0 0 0 0 0 0 (1.4) 0 0 0 0 0 0 0 (1.2) 0 0 0 (0.9) 0 0 0 (0.7) 0 0 0
Other Non-Current Assets 10.1 8.3 11.3 12.4 12.2 8.9 12.4 12.8 14.8 15.9 16.0 15.8 16.2 15.8 15.3 14.7 13.8 11.1 11.4 11.6 11.8 12.3 12.0 12.2 12.1 10.1 10.7 9.4 7.0 5.0 3.7 3.8 4.1 4.4 4.5 4.7 4.6 4.8 5.3 5.5 5.4
Total Non-Current Assets 1,523.8 1,465.9 1,412.4 1,384.2 1,362.9 1,328.8 1,321.4 1,316.1 1,292.6 1,271.4 1,241.6 1,203.3 1,176.8 1,150.9 1,134.7 1,092.5 1,063.1 1,051.1 1,021.1 994.1 972.3 942.2 932.7 919.9 924.6 885.1 863.8 811.4 754.6 509.4 488.4 434.6 404.6 377.4 501.4 485.1 471.6 454.2 430.0 391.4 349.1
Total Assets 1,917.6 1,896.2 1,827.2 1,775.0 1,727.5 1,697.0 1,675.4 1,661.8 1,618.8 1,605.9 1,564.9 1,532.8 1,506.9 1,494.9 1,501.8 1,480.1 1,449.7 1,460.8 1,440.3 1,432.3 1,407.6 1,145.3 1,137.2 1,123.9 1,040.0 972.8 963.3 898.2 847.0 610.5 592.3 536.7 500.3 470.6 599.9 578.3 555.4 538.2 511.9 467.4 422.5
Current Liabilities
Account Payables 27.0 24.7 23.6 20.7 20.7 23.6 15.8 18.6 15.2 22.3 21.3 17.0 16.0 20.4 17.2 16.4 13.4 19.9 17.8 26.3 24.3 23.5 22.4 20.7 15.3 14.3 15.9 3.8 12.7 12.5 9.7 5.2 6.7 8.2 8.6 9.5 5.7 6.9 5.8 5.2 6.0
Short-Term Debt 65.2 69.5 0 59.1 57.5 55.7 0 0 0 0 0 0 0 0 0 0 0 38.2 0 0 0 0 0 0 0 31.9 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Deferred Revenue 0 0 2.1 2.2 2.2 2.6 1.9 2.0 2.3 2.6 2.0 2.0 2.0 2.3 1.7 1.8 1.8 3.3 2.7 2.6 2.6 2.6 2.2 2.2 2.1 2.3 1.8 1.7 1.7 1.8 1.4 1.3 1.3 1.5 1.0 1.1 1.1 1.2 0.8 0.8 0.8
Other Current Liabilities 140.4 150.7 6.4 (52.7) 27.1 20.1 5.3 5.4 6.2 5.0 6.8 7.6 7.8 62.7 10.4 10.8 55.0 45.4 3.8 4.4 6.0 35.5 5.4 5.0 5.9 39.5 42.1 39.8 34.8 35.0 31.1 4.5 21.0 19.6 20.6 16.4 16.8 18.7 15.0 5.8 5.0
Total Current Liabilities 232.6 244.9 225.3 204.1 190.6 187.3 175.8 168.1 161.1 164.1 152.2 150.2 143.1 147.7 144.5 133.9 126.0 121.5 118.3 124.5 118.7 109.7 104.3 96.7 102.8 99.4 96.0 79.0 79.2 59.9 48.8 38.8 33.5 34.0 36.8 33.1 28.8 31.7 26.1 22.1 20.2
Non-Current Liabilities
Long-Term Debt 856.6 247.7 247.5 247.2 246.9 246.7 246.4 246.2 245.9 245.6 245.4 245.1 244.9 244.6 244.3 244.1 243.8 243.5 243.3 243.0 242.9 0 0 0 50 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.3
Deferred Tax Liabilities 0 5.9 0 0 0 0 0 0 0 0 0 0 0 3.6 0 0 0 3.2 0 0 0 0 0 0 0 4.5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 273.8 245.8 278.9 248.9 249.4 249.2 274.9 273.5 262.9 236.4 237.0 237.1 237.6 237.3 237.5 238.1 237.7 239.8 240.1 240.9 240.3 241.7 234.4 228.4 227.3 227.0 218.3 212.7 200.0 256.3 252.1 223.1 216.7 197.6 318.2 313.0 307.1 303.1 294.4 266.7 234.6
Total Non-Current Liabilities 1,130.4 1,103.4 1,066.6 1,051.9 1,039.3 1,016.0 1,020.5 1,007.3 985.5 972.4 970.7 951.3 944.0 927.4 929.0 918.5 898.5 903.7 878.8 864.2 848.9 601.1 586.2 576.0 614.6 551.4 549.0 518.6 482.1 277.1 271.9 241.5 233.7 212.1 331.4 324.2 315.1 305.1 294.4 266.7 234.9
Total Liabilities 1,363.0 1,342.5 1,291.9 1,256.0 1,230.0 1,203.3 1,196.4 1,175.4 1,146.5 1,136.5 1,122.9 1,101.5 1,087.0 1,075.1 1,073.5 1,052.4 1,024.5 1,025.2 997.0 988.7 967.6 710.9 690.4 672.6 717.4 650.8 645.0 597.6 561.2 337.1 320.7 280.3 267.2 246.1 368.2 357.3 344.0 336.8 320.5 288.7 255.1
Stockholders' Equity
Common Stock 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Retained Earnings 72.4 72.7 60.9 48.4 31.2 27.0 18.3 28.5 18.8 16.8 (7.5) (15.1) (22.1) (20.5) (9.8) (7.8) (6.6) 3.6 13.3 15.5 13.5 12.2 31.6 37.2 53.4 54.4 56.5 46.1 37.1 30.4 31.4 26.3 18.7 16.4 28.9 23.9 19.0 16.7 12.8 9.0 5.7
Accumulated Other Comprehensive Income (0.0) (0.0) (0.0) (0.0) (0.0) (0.0) (0.0) (0.0) (0.0) (0.0) (0.0) (0.0) (0.0) 0 (0.0) (0.0) 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0 0 0 0 0 0 0 (0.0) 0.0 (0.0) (0.0) (0.0) (0.0) (0.0) (0.0)
Total Stockholders' Equity 525.9 525.3 509.0 494.1 473.3 470.0 456.1 462.4 446.4 443.4 416.4 406.3 395.4 395.1 403.5 402.8 400.4 409.5 416.9 417.1 413.9 407.3 417.7 421.6 300.4 298.8 290.6 255.0 285.7 273.5 271.6 256.4 233.1 224.5 231.8 169.0 160.9 201.4 191.4 128.5 167.4
Total Liabilities & Equity 1,917.6 1,896.2 1,827.2 1,775.0 1,727.5 1,697.0 1,675.4 1,661.8 1,618.8 1,605.9 1,564.9 1,532.8 1,506.9 1,494.9 1,501.8 1,480.1 1,449.7 1,460.8 1,440.3 1,432.3 1,407.6 1,145.3 1,137.2 1,123.9 1,040.0 972.8 963.3 898.2 847.0 610.5 592.3 536.7 500.3 470.6 599.9 578.3 555.4 538.2 511.9 467.4 422.5
Debt Metrics
Total Debt 921.8 902.1 854.0 907.0 892.2 865.4 804.8 790.7 776.9 771.3 767.8 746.5 737.3 720.5 720.3 707.5 687.2 686.2 667.3 649.9 636.3 385.0 376.2 375.2 421.0 340.4 347.7 321.8 296.1 20.8 19.9 18.3 17.0 14.5 13.2 11.2 8.0 2.0 0 0 0.3
Net Debt 608.1 542.0 496.2 570.2 579.2 544.6 493.9 488.9 516.7 546.7 577.8 542.8 443.9 490.0 463.3 429.2 407.9 383.8 345.9 309.8 261.3 238.1 201.4 201.2 333.2 303.3 303.2 292.1 264.3 (3.9) (9.4) (12.5) (9.6) (7.0) (13.7) (11.3) (7.7) (9.6) (12.2) (68.4) (65.5)
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1
Operating Activities
Net Income (0.3) 13.0 13.7 18.5 4.5 8.7 (11.1) 9.7 2.0 6.8 7.6 6.9 (1.6) (7.8) (2.0) (1.2) (10.2) (9.7) (2.2) 1.9 1.3 (19.4) (5.6) (16.2) (1.0) (2.1) 11.4 11.2 3.6 (0.5) 6.9 10.6 5.0 (11.0) 7.9 8.2 3.9 5.5 6.8 6.5 3.4
Depreciation & Amortization 29.6 26.9 27.6 27.1 27.1 26.4 26.3 26.5 26.0 43.0 23.6 23.1 21.8 19.6 19.0 18.7 17.4 15.9 15.5 14.8 14.0 12.9 12.8 12.5 12.0 11.4 10.6 0.9 17.9 8.1 7.4 7.0 6.5 6.1 5.6 5.3 4.7 4.3 3.7 3.4 3.1
Stock-Based Compensation 0 5.3 4.4 5.2 4.5 0 4.2 3.7 3.6 3.7 0 0 3.8 0 0 3.5 3.2 0 0 0 0 0 0 0 0 0 1.9 2.2 1.7 1.7 1.6 1.4 1.4 1.8 1.3 1.3 1.2 1.5 1.6 1.2 1.0
Change in Working Capital (28.7) (16.0) (11.2) (13.0) (27.4) (22.0) (19.2) (8.5) (19.8) 3.3 (28.2) (9.9) (23.1) 8.6 (20.9) (13.1) (18.9) 12.0 (25.5) (12.5) (18.0) 5.3 (7.0) (5.0) (21.9) (0.2) 3.8 (14.8) (6.3) 14.3 4.6 1.5 5.5 3.6 4.7 5.6 0.7 3.7 3.8 4.8 0.9
Other Non-Cash Items 31.0 26.4 23.0 22.7 23.0 28.9 47.2 20.6 18.9 0.5 21.1 21.4 17.0 19.2 19.2 19.4 16.4 16.6 15.5 15.1 14.1 20.0 12.7 11.8 14.5 12.6 11.0 19.0 0.2 0.3 0.1 0.2 1.0 (126.9) 0.3 0.2 0.1 (0.5) 0.1 0.1 0.0
Operating Cash Flow 30.0 63.1 63.0 65.0 31.2 45.1 41.9 53.5 30.7 41.5 28.4 42.4 19.8 22.4 19.2 27.2 8.0 14.7 6.7 27.1 10.0 8.8 10.5 10.5 7.5 16.8 37.2 18.7 17.2 22.6 21.9 21.7 19.1 16.9 20.2 24.1 9.7 13.8 16.1 16.0 8.5
Investing Activities
Capital Expenditure (47.2) (59.2) (39.3) (38.1) (29.4) (34.7) (34.8) (32.9) (33.1) (33.1) (38.3) (40.4) (34.3) (47.8) (39.5) (27.3) (28.0) (32.6) (24.1) (21.6) (23.2) (22.0) (9.4) (18.5) (19.2) (25.6) (24.9) (31.0) (25.0) (27.4) (23.8) (18.6) (17.7) (20.4) (16.2) (11.9) (13.1) (15.2) (12.7) (12.4) (14.1)
Acquisitions 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0 0.0 0 0 0.0 0 0 0 0
Purchases of Investments 0 0 0 0 0 0 0 0 0 0 (2.6) (91.4) (0.7) (0.5) (0.2) 0 0 (0.1) (0.1) (43.2) (4.1) (20.0) (0.0) (0.1) (0.2) (0.2) (0.3) (0.3) (0.4) (0.3) (0.3) (0.3) (0.3) (1.2) (0.7) (5.7) (0.3) (0.7) (60.2) 0 0
Sales/Maturities of Investments 0 0 0 0 0 0 3 22.1 44.4 27.1 0 0 81.5 0 0 0 0 0 0 4.0 0 0 0 0 20 0 0 12 15 0.0 0 0 2.1 1.1 0.8 0.5 5.2 0.4 0.2 0 0
Other Investing Activities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (0.1) (0.1) 0 0 0 0 0 0 0 0 0 (0.3) 11.7 14.6 (0.0) (0.3) (0.3) (0.0) (0.0) 0.1 (5.2) (0.0) (0.3) (60.0) (0.1) 0
Investing Cash Flow (47.2) (59.2) (39.3) (38.1) (29.4) (34.7) (31.8) (10.9) 11.3 (6.1) (40.8) (131.9) 46.5 (48.2) (39.8) (27.4) (28.1) (32.7) (24.2) (60.7) (27.2) (42.1) (9.4) (18.6) 0.6 (25.8) (25.2) (19.3) (10.4) (27.7) (24.1) (18.9) (15.9) (20.5) (16.1) (17.0) (8.3) (15.4) (72.7) (12.5) (14.1)
Financing Activities
Net Debt Issuance (23.1) 4.0 (1.4) (1.3) (1.3) (1.0) (1.0) (1.0) (0.9) (0.9) (0.9) (0.7) (0.8) (0.7) (0.7) (0.8) (0.7) (0.9) (1.0) (0.7) 242.4 (0.5) (0.5) (50.6) 49.4 (0.5) (0.5) (0.6) (0.3) 0.2 0.1 (0.1) 0.4 0.5 (0.1) 0.2 0.3 0.1 0 (0.3) 0
Stock Repurchased 0 0.5 (0.5) 0 0 0 0 0 0 0 0 0 0 0 0 (0.0) (2.1) 0 0 0 0 0 0 0 0 0 (0.0) (1.3) 0 0 (0.9) 0 0 0.0 0 (0.3) 0 0 0 0 0
Dividends Paid 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Financing Activities (6.2) (6.1) (0.9) (1.7) (8.4) (0.3) (0.3) (0.1) (6.0) (0.1) (0.4) (0.0) (2.6) (0.0) (0.2) 0.1 (0.2) (0.1) (0.3) (0.6) (3.5) (0.0) (0.2) (0.9) (7.8) (0.0) 3.3 (0.9) 0.7 0.3 0.6 1.5 1.4 (2.3) 0.4 (0.4) 2.5 1.0 0.5 (0.7) 0.7
Financing Cash Flow (29.3) (1.6) (2.8) (3.0) (9.7) (0.5) (1.0) (1.0) (6.4) (0.9) (1.2) (0.2) (3.4) (0.7) (0.7) (0.7) (3.1) (1.0) (1.2) (1.2) 245.4 5.3 (0.2) 94.2 42.6 1.6 2.8 (1.5) 0.3 0.5 0.6 1.5 1.8 (1.8) 0.3 (0.3) 2.7 1.0 0.5 (1.0) 0.7
Cash Position
Net Change in Cash (46.5) 2.4 21.0 23.9 (7.8) 9.8 9.0 41.6 35.5 34.6 (13.7) (89.7) 62.9 (26.5) (21.3) (0.9) (23.2) (19.0) (18.7) (34.9) 228.1 (28.0) 0.9 86.2 50.7 (7.4) 14.8 (2.2) 7.1 (4.5) (1.6) 4.3 5.1 (5.4) 4.5 6.7 4.1 (0.6) (56.1) 2.5 (5.0)
Cash at Beginning 360.1 357.8 336.8 312.9 320.7 310.9 301.8 260.2 224.7 190.0 203.7 293.4 230.5 257.0 278.3 279.3 302.4 321.4 340.1 375.0 146.9 174.9 174.0 87.8 37.1 44.5 29.7 31.9 24.8 29.3 30.9 26.6 21.5 26.9 22.4 15.7 11.6 12.2 68.4 65.9 70.8
Cash at End 313.6 360.1 357.8 336.8 312.9 320.7 310.9 301.8 260.2 224.7 190.0 203.7 293.4 230.5 257.0 278.3 279.3 302.4 321.4 340.1 375.0 146.9 174.9 174.0 87.8 37.1 44.5 29.7 31.9 24.8 29.3 30.9 26.6 21.5 26.9 22.4 15.7 11.6 12.2 68.4 65.9
Free Cash Flow (17.2) 4.0 23.7 26.9 1.9 10.4 7.1 20.6 (2.4) 8.4 (9.9) 1.9 (14.5) (25.4) (20.4) (0.1) (20.0) (18.0) (17.4) 5.5 (13.2) (13.2) 1.1 (8.0) (11.7) (8.8) 12.2 (12.3) (7.8) (4.8) (1.9) 3.1 1.4 (3.4) 4.0 12.2 (3.5) (1.4) 3.4 3.5 (5.7)
Key Metrics 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 2013 Q1
Income Statement
Revenue 366.7 400.5 367.4 356.5 320.9 328.7 316.9 316.5 290.5 286.2 276.2 271.8 253.3 238.5 227.8 230.8 203.4 203.3 193.9 187.5 155.3 157.5 130.4 91.8 143.2 151.4 157.8 152.7 132.6 124.3 119.6 116.3 99.1 96.1 94.6 91.3 76.7 73.3 74.6 66.5 54.2 51.1 53.3 48.5 37.8 34.8 31.8 27.7 24.2 23.0 22.8 18.4 18.4
Gross Profit 174.0 (236.1) 175.9 171.8 148.2 155.0 145.3 144.8 128.7 127.4 122.8 120.8 107.2 104.2 95.4 98.9 83.0 84.6 77.8 79.9 64.3 65.5 54.6 30.8 61.8 66.4 72.0 69.6 57.5 55.1 55.7 54.9 45.5 44.4 45.0 44.2 35.1 34.1 36.0 33.1 26.0 24.3 26.2 23.6 17.7 15.4 14.8 13.1 11.0 10.4 9.0 7.1 7.1
Operating Income 5.1 25.7 18.5 22.4 2.8 10.2 (18.0) 10.8 0.0 (1.3) 5.7 4.7 (3.2) (6.3) (4.8) (0.8) (14.9) (6.5) (2.6) 3.3 (10.0) (12.2) (6.8) (24.1) (0.8) 0.5 8.2 11.9 5.2 2.8 9.3 13.0 6.5 5.8 10.6 11.7 5.6 5.0 9.2 8.9 4.7 3.7 7.8 6.2 (10.9) (1.0) 0.8 2.1 1.2 1.1 0.6 2.1 2.1
Net Income (0.3) 11.8 12.5 17.1 4.2 8.7 (10.2) 9.7 2.0 7.2 7.6 6.9 (1.5) (10.7) (2.0) (1.2) (10.2) (9.7) (2.2) 1.9 1.3 (19.4) (5.6) (16.2) (1.0) (2.1) 10.3 9.0 2.5 (1.0) 5.0 7.6 3.5 (12.5) 5.0 4.9 2.3 3.9 3.8 3.3 1.5 1.2 1.5 1.1 (12.7) (1.4) 0.5 1.9 1.1 1.0 0.4 2.0 2.0
EPS (Diluted) -0.01 0.28 0.30 0.41 0.10 0.21 -0.26 0.23 0.05 0.15 0.19 0.16 -0.04 -0.28 -0.05 -0.03 -0.29 -0.25 -0.06 0.05 0.01 -0.52 -0.15 -0.43 -0.03 -0.06 0.31 0.29 0.08 -0.03 0.17 0.26 0.13 -0.55 0.19 0.19 0.09 0.15 0.15 0.14 0.07 0.07 0.10 0.08 -1.06 -0.13 0.40 1.56 0.87 0.83 0.36 1.61 1.60
Balance Sheet
Cash & Equivalents 313.6 360.1 357.8 336.8 312.9 320.7 310.9 301.8 260.2 224.7 190.0 203.7 293.4 230.5 257.0 278.3 279.3 302.4 321.4 340.1 375.0 146.9 174.9 174.0 87.8 37.1 44.5 29.7 31.9 24.8 29.3 30.9 26.6 21.5 26.9 22.4 15.7 11.6 12.2 68.4 65.9
Total Assets 1,917.6 1,896.2 1,827.2 1,775.0 1,727.5 1,697.0 1,675.4 1,661.8 1,618.8 1,605.9 1,564.9 1,532.8 1,506.9 1,494.9 1,501.8 1,480.1 1,449.7 1,460.8 1,440.3 1,432.3 1,407.6 1,145.3 1,137.2 1,123.9 1,040.0 972.8 963.3 898.2 847.0 610.5 592.3 536.7 500.3 470.6 599.9 578.3 555.4 538.2 511.9 467.4 422.5
Total Debt 921.8 902.1 854.0 907.0 892.2 865.4 804.8 790.7 776.9 771.3 767.8 746.5 737.3 720.5 720.3 707.5 687.2 686.2 667.3 649.9 636.3 385.0 376.2 375.2 421.0 340.4 347.7 321.8 296.1 20.8 19.9 18.3 17.0 14.5 13.2 11.2 8.0 2.0 0 0 0.3
Stockholders' Equity 525.9 525.3 509.0 494.1 473.3 470.0 456.1 462.4 446.4 443.4 416.4 406.3 395.4 395.1 403.5 402.8 400.4 409.5 416.9 417.1 413.9 407.3 417.7 421.6 300.4 298.8 290.6 255.0 285.7 273.5 271.6 256.4 233.1 224.5 231.8 169.0 160.9 201.4 191.4 128.5 167.4
Cash Flow
Operating Cash Flow 30.0 63.1 63.0 65.0 31.2 45.1 41.9 53.5 30.7 41.5 28.4 42.4 19.8 22.4 19.2 27.2 8.0 14.7 6.7 27.1 10.0 8.8 10.5 10.5 7.5 16.8 37.2 18.7 17.2 22.6 21.9 21.7 19.1 16.9 20.2 24.1 9.7 13.8 16.1 16.0 8.5
Capital Expenditure (47.2) (59.2) (39.3) (38.1) (29.4) (34.7) (34.8) (32.9) (33.1) (33.1) (38.3) (40.4) (34.3) (47.8) (39.5) (27.3) (28.0) (32.6) (24.1) (21.6) (23.2) (22.0) (9.4) (18.5) (19.2) (25.6) (24.9) (31.0) (25.0) (27.4) (23.8) (18.6) (17.7) (20.4) (16.2) (11.9) (13.1) (15.2) (12.7) (12.4) (14.1)
Free Cash Flow (17.2) 4.0 23.7 26.9 1.9 10.4 7.1 20.6 (2.4) 8.4 (9.9) 1.9 (14.5) (25.4) (20.4) (0.1) (20.0) (18.0) (17.4) 5.5 (13.2) (13.2) 1.1 (8.0) (11.7) (8.8) 12.2 (12.3) (7.8) (4.8) (1.9) 3.1 1.4 (3.4) 4.0 12.2 (3.5) (1.4) 3.4 3.5 (5.7)