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Side-by-side financial comparison of Black Rock Coffee Bar, Inc. (BRCB) and Shake Shack Inc. (SHAK). Click either name above to swap in a different company.
Shake Shack Inc. is the larger business by last-quarter revenue ($400.5M vs $51.5M, roughly 7.8× Black Rock Coffee Bar, Inc.). Shake Shack Inc. runs the higher net margin — 3.0% vs -1.4%, a 4.3% gap on every dollar of revenue. Shake Shack Inc. produced more free cash flow last quarter ($4.0M vs $-25.8M).
Black Rock Coffee Bar, Inc. is a U.S.-based specialty coffee retail chain that offers handcrafted premium coffee beverages, energy drinks, baked goods, and light snacks. It operates in-store and drive-thru locations primarily across western U.S. states, prioritizing high-quality customizable products and community-focused consumer experiences.
Shake Shack is an American multinational fast casual restaurant chain based in New York City. It started out as a hot dog cart inside Madison Square Park in 2001, and its popularity steadily grew. In 2004, it received a permit to open a permanent kiosk within the park, expanding its menu from New York–style hot dogs to one with hamburgers, hot dogs, fries and its namesake milkshakes.
BRCB vs SHAK — Head-to-Head
Income Statement — Q3 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $51.5M | $400.5M |
| Net Profit | $-712.0K | $11.8M |
| Gross Margin | — | — |
| Operating Margin | -12.4% | 4.7% |
| Net Margin | -1.4% | 3.0% |
| Revenue YoY | — | 21.9% |
| Net Profit YoY | — | 35.8% |
| EPS (diluted) | $-0.05 | $0.28 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $400.5M | ||
| Q3 25 | $51.5M | $367.4M | ||
| Q2 25 | — | $356.5M | ||
| Q1 25 | — | $320.9M | ||
| Q4 24 | — | $328.7M | ||
| Q3 24 | — | $316.9M | ||
| Q2 24 | — | $316.5M | ||
| Q1 24 | — | $290.5M |
| Q4 25 | — | $11.8M | ||
| Q3 25 | $-712.0K | $12.5M | ||
| Q2 25 | — | $17.1M | ||
| Q1 25 | — | $4.2M | ||
| Q4 24 | — | $8.7M | ||
| Q3 24 | — | $-10.2M | ||
| Q2 24 | — | $9.7M | ||
| Q1 24 | — | $2.0M |
| Q4 25 | — | 4.7% | ||
| Q3 25 | -12.4% | 5.0% | ||
| Q2 25 | — | 6.3% | ||
| Q1 25 | — | 0.9% | ||
| Q4 24 | — | 3.1% | ||
| Q3 24 | — | -5.7% | ||
| Q2 24 | — | 3.4% | ||
| Q1 24 | — | 0.0% |
| Q4 25 | — | 3.0% | ||
| Q3 25 | -1.4% | 3.4% | ||
| Q2 25 | — | 4.8% | ||
| Q1 25 | — | 1.3% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | — | -3.2% | ||
| Q2 24 | — | 3.1% | ||
| Q1 24 | — | 0.7% |
| Q4 25 | — | $0.28 | ||
| Q3 25 | $-0.05 | $0.30 | ||
| Q2 25 | — | $0.41 | ||
| Q1 25 | — | $0.10 | ||
| Q4 24 | — | $0.22 | ||
| Q3 24 | — | $-0.26 | ||
| Q2 24 | — | $0.23 | ||
| Q1 24 | — | $0.05 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $32.6M | $360.1M |
| Total DebtLower is stronger | $20.0M | $247.7M |
| Stockholders' EquityBook value | $43.0M | $525.3M |
| Total Assets | $323.2M | $1.9B |
| Debt / EquityLower = less leverage | 0.46× | 0.47× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $360.1M | ||
| Q3 25 | $32.6M | $357.8M | ||
| Q2 25 | — | $336.8M | ||
| Q1 25 | — | $312.9M | ||
| Q4 24 | — | $320.7M | ||
| Q3 24 | — | $310.9M | ||
| Q2 24 | — | $304.4M | ||
| Q1 24 | — | $284.8M |
| Q4 25 | — | $247.7M | ||
| Q3 25 | $20.0M | $247.5M | ||
| Q2 25 | — | $247.2M | ||
| Q1 25 | — | $246.9M | ||
| Q4 24 | — | $246.7M | ||
| Q3 24 | — | $246.4M | ||
| Q2 24 | — | $246.2M | ||
| Q1 24 | — | $245.9M |
| Q4 25 | — | $525.3M | ||
| Q3 25 | $43.0M | $509.0M | ||
| Q2 25 | — | $494.1M | ||
| Q1 25 | — | $473.3M | ||
| Q4 24 | — | $470.0M | ||
| Q3 24 | — | $456.1M | ||
| Q2 24 | — | $462.4M | ||
| Q1 24 | — | $446.4M |
| Q4 25 | — | $1.9B | ||
| Q3 25 | $323.2M | $1.8B | ||
| Q2 25 | — | $1.8B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.7B | ||
| Q1 24 | — | $1.6B |
| Q4 25 | — | 0.47× | ||
| Q3 25 | 0.46× | 0.49× | ||
| Q2 25 | — | 0.50× | ||
| Q1 25 | — | 0.52× | ||
| Q4 24 | — | 0.52× | ||
| Q3 24 | — | 0.54× | ||
| Q2 24 | — | 0.53× | ||
| Q1 24 | — | 0.55× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-2.9M | $63.1M |
| Free Cash FlowOCF − Capex | $-25.8M | $4.0M |
| FCF MarginFCF / Revenue | -50.2% | 1.0% |
| Capex IntensityCapex / Revenue | 44.5% | 14.8% |
| Cash ConversionOCF / Net Profit | — | 5.34× |
| TTM Free Cash FlowTrailing 4 quarters | — | $56.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $63.1M | ||
| Q3 25 | $-2.9M | $63.0M | ||
| Q2 25 | — | $65.0M | ||
| Q1 25 | — | $31.2M | ||
| Q4 24 | — | $45.1M | ||
| Q3 24 | — | $41.9M | ||
| Q2 24 | — | $53.5M | ||
| Q1 24 | — | $30.7M |
| Q4 25 | — | $4.0M | ||
| Q3 25 | $-25.8M | $23.7M | ||
| Q2 25 | — | $26.9M | ||
| Q1 25 | — | $1.9M | ||
| Q4 24 | — | $10.4M | ||
| Q3 24 | — | $7.1M | ||
| Q2 24 | — | $20.6M | ||
| Q1 24 | — | $-2.4M |
| Q4 25 | — | 1.0% | ||
| Q3 25 | -50.2% | 6.5% | ||
| Q2 25 | — | 7.5% | ||
| Q1 25 | — | 0.6% | ||
| Q4 24 | — | 3.2% | ||
| Q3 24 | — | 2.2% | ||
| Q2 24 | — | 6.5% | ||
| Q1 24 | — | -0.8% |
| Q4 25 | — | 14.8% | ||
| Q3 25 | 44.5% | 10.7% | ||
| Q2 25 | — | 10.7% | ||
| Q1 25 | — | 9.1% | ||
| Q4 24 | — | 10.6% | ||
| Q3 24 | — | 11.0% | ||
| Q2 24 | — | 10.4% | ||
| Q1 24 | — | 11.4% |
| Q4 25 | — | 5.34× | ||
| Q3 25 | — | 5.04× | ||
| Q2 25 | — | 3.79× | ||
| Q1 25 | — | 7.36× | ||
| Q4 24 | — | 5.18× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 5.54× | ||
| Q1 24 | — | 15.03× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
