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Side-by-side financial comparison of H2O AMERICA (HTO) 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 ($366.7M vs $199.4M, roughly 1.8× H2O AMERICA). H2O AMERICA runs the higher net margin — 8.1% vs -0.1%, a 8.2% gap on every dollar of revenue. On growth, Shake Shack Inc. posted the faster year-over-year revenue change (14.3% vs 1.5%). Over the past eight quarters, H2O AMERICA's revenue compounded faster (15.3% CAGR vs 7.6%).
H2O Wireless is a United States-based prepaid cell phone service, that utilizes the AT&T network. It is a brand of the mobile virtual network operator (MVNO) Locus Telecommunications, a subsidiary of Telrite Holdings, Inc., since 2019. Locus was formerly a subsidiary of KDDI America corporation, starting in 2010. H2O Wireless is primarily advertised as a non-restrictive phone service for customers to bring or buy unlocked smartphones, although AT&T contract/locked phones may be accepted as well.
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.
HTO vs SHAK — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $199.4M | $366.7M |
| Net Profit | $16.2M | $-294.0K |
| Gross Margin | — | — |
| Operating Margin | 16.6% | — |
| Net Margin | 8.1% | -0.1% |
| Revenue YoY | 1.5% | 14.3% |
| Net Profit YoY | -29.2% | — |
| EPS (diluted) | $0.45 | $-0.01 |
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.
| Q1 26 | — | $366.7M | ||
| Q4 25 | $199.4M | $400.5M | ||
| Q3 25 | $243.5M | $367.4M | ||
| Q2 25 | $197.8M | $356.5M | ||
| Q1 25 | $164.9M | $320.9M | ||
| Q4 24 | $196.5M | $328.7M | ||
| Q3 24 | $216.7M | $316.9M | ||
| Q2 24 | $173.1M | $316.5M |
| Q1 26 | — | $-294.0K | ||
| Q4 25 | $16.2M | $11.8M | ||
| Q3 25 | $45.1M | $12.5M | ||
| Q2 25 | $24.7M | $17.1M | ||
| Q1 25 | $16.6M | $4.2M | ||
| Q4 24 | $22.9M | $8.7M | ||
| Q3 24 | $38.7M | $-10.2M | ||
| Q2 24 | $20.7M | $9.7M |
| Q1 26 | — | — | ||
| Q4 25 | 16.6% | 4.7% | ||
| Q3 25 | 26.5% | 5.0% | ||
| Q2 25 | 22.2% | 6.3% | ||
| Q1 25 | 21.8% | 0.9% | ||
| Q4 24 | 22.2% | 3.1% | ||
| Q3 24 | 26.9% | -5.7% | ||
| Q2 24 | 23.4% | 3.4% |
| Q1 26 | — | -0.1% | ||
| Q4 25 | 8.1% | 3.0% | ||
| Q3 25 | 18.5% | 3.4% | ||
| Q2 25 | 12.5% | 4.8% | ||
| Q1 25 | 10.0% | 1.3% | ||
| Q4 24 | 11.7% | 2.6% | ||
| Q3 24 | 17.8% | -3.2% | ||
| Q2 24 | 12.0% | 3.1% |
| Q1 26 | — | $-0.01 | ||
| Q4 25 | $0.45 | $0.28 | ||
| Q3 25 | $1.27 | $0.30 | ||
| Q2 25 | $0.71 | $0.41 | ||
| Q1 25 | $0.49 | $0.10 | ||
| Q4 24 | $0.70 | $0.22 | ||
| Q3 24 | $1.17 | $-0.26 | ||
| Q2 24 | $0.64 | $0.23 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $20.7M | $313.6M |
| Total DebtLower is stronger | $1.9B | $248.0M |
| Stockholders' EquityBook value | $1.5B | $554.6M |
| Total Assets | $5.1B | $1.9B |
| Debt / EquityLower = less leverage | 1.23× | 0.45× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $313.6M | ||
| Q4 25 | $20.7M | $360.1M | ||
| Q3 25 | $11.3M | $357.8M | ||
| Q2 25 | $19.8M | $336.8M | ||
| Q1 25 | $23.7M | $312.9M | ||
| Q4 24 | $11.1M | $320.7M | ||
| Q3 24 | $4.0M | $310.9M | ||
| Q2 24 | $22.8M | $304.4M |
| Q1 26 | — | $248.0M | ||
| Q4 25 | $1.9B | $247.7M | ||
| Q3 25 | — | $247.5M | ||
| Q2 25 | — | $247.2M | ||
| Q1 25 | — | $246.9M | ||
| Q4 24 | $1.7B | $246.7M | ||
| Q3 24 | — | $246.4M | ||
| Q2 24 | — | $246.2M |
| Q1 26 | — | $554.6M | ||
| Q4 25 | $1.5B | $525.3M | ||
| Q3 25 | $1.5B | $509.0M | ||
| Q2 25 | $1.5B | $494.1M | ||
| Q1 25 | $1.4B | $473.3M | ||
| Q4 24 | $1.4B | $470.0M | ||
| Q3 24 | $1.3B | $456.1M | ||
| Q2 24 | $1.3B | $462.4M |
| Q1 26 | — | $1.9B | ||
| Q4 25 | $5.1B | $1.9B | ||
| Q3 25 | $5.0B | $1.8B | ||
| Q2 25 | $4.8B | $1.8B | ||
| Q1 25 | $4.7B | $1.7B | ||
| Q4 24 | $4.7B | $1.7B | ||
| Q3 24 | $4.6B | $1.7B | ||
| Q2 24 | $4.4B | $1.7B |
| Q1 26 | — | 0.45× | ||
| Q4 25 | 1.23× | 0.47× | ||
| Q3 25 | — | 0.49× | ||
| Q2 25 | — | 0.50× | ||
| Q1 25 | — | 0.52× | ||
| Q4 24 | 1.26× | 0.52× | ||
| Q3 24 | — | 0.54× | ||
| Q2 24 | — | 0.53× |
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 | $63.5M | $8.5M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 3.92× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $8.5M | ||
| Q4 25 | $63.5M | $63.1M | ||
| Q3 25 | $77.3M | $63.0M | ||
| Q2 25 | $60.8M | $65.0M | ||
| Q1 25 | $43.2M | $31.2M | ||
| Q4 24 | $41.5M | $45.1M | ||
| Q3 24 | $53.5M | $41.9M | ||
| Q2 24 | $49.3M | $53.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | $4.0M | ||
| Q3 25 | — | $23.7M | ||
| Q2 25 | — | $26.9M | ||
| Q1 25 | — | $1.9M | ||
| Q4 24 | — | $10.4M | ||
| Q3 24 | — | $7.1M | ||
| Q2 24 | — | $20.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.0% | ||
| Q3 25 | — | 6.5% | ||
| Q2 25 | — | 7.5% | ||
| Q1 25 | — | 0.6% | ||
| Q4 24 | — | 3.2% | ||
| Q3 24 | — | 2.2% | ||
| Q2 24 | — | 6.5% |
| Q1 26 | — | — | ||
| Q4 25 | — | 14.8% | ||
| Q3 25 | — | 10.7% | ||
| Q2 25 | — | 10.7% | ||
| Q1 25 | — | 9.1% | ||
| Q4 24 | — | 10.6% | ||
| Q3 24 | — | 11.0% | ||
| Q2 24 | — | 10.4% |
| Q1 26 | — | — | ||
| Q4 25 | 3.92× | 5.34× | ||
| Q3 25 | 1.71× | 5.04× | ||
| Q2 25 | 2.47× | 3.79× | ||
| Q1 25 | 2.61× | 7.36× | ||
| Q4 24 | 1.81× | 5.18× | ||
| Q3 24 | 1.39× | — | ||
| Q2 24 | 2.38× | 5.54× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
SHAK
Segment breakdown not available.
