Here are the 10-K annual reports from Shake Shack Inc. (SHAK) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow SHAK and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SHAK filings page.
Shake Shack Inc. uses a fine-casual model to serve premium burgers, chicken, shakes and beverages, growing from a single 2004 New York kiosk to 659 system-wide Shacks as of December 31, 2025. Of these, 373 are Company-operated and 286 are licensed across major global cities.
The company is pursuing an aggressive expansion strategy, opening 80 net new Shacks in 2025 and targeting about 1,500 Company-operated locations over time. Average investment per new Shack was about $2.3 million, or $1.9 million net of landlord allowances, with build times generally between 15 and 37 weeks.
Shake Shack emphasizes culture and human capital, employing 13,873 team members as of December 31, 2025 and running multi-week leadership programs plus equity incentives for managers. It is also investing heavily in digital channels, kiosks, personalized offers, and loyalty-style “challenges” to deepen guest engagement and drive repeat visits.