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Side-by-side financial comparison of Shake Shack Inc. (SHAK) and Walker & Dunlop, Inc. (WD). Click either name above to swap in a different company.
Shake Shack Inc. is the larger business by last-quarter revenue ($400.5M vs $340.0M, roughly 1.2× Walker & Dunlop, Inc.). Shake Shack Inc. runs the higher net margin — 3.0% vs -12.9%, a 15.9% gap on every dollar of revenue. On growth, Shake Shack Inc. posted the faster year-over-year revenue change (21.9% vs -0.4%). Shake Shack Inc. produced more free cash flow last quarter ($4.0M vs $-680.1M). Over the past eight quarters, Walker & Dunlop, Inc.'s revenue compounded faster (22.1% CAGR vs 17.4%).
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.
Walker & Dunlop, Inc. is one of the largest commercial real estate finance and advisory services firms in the United States and internationally.
SHAK vs WD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $400.5M | $340.0M |
| Net Profit | $11.8M | $-13.9M |
| Gross Margin | — | — |
| Operating Margin | 4.7% | -17.2% |
| Net Margin | 3.0% | -12.9% |
| Revenue YoY | 21.9% | -0.4% |
| Net Profit YoY | 35.8% | -131.0% |
| EPS (diluted) | $0.28 | $-0.41 |
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 | $340.0M | ||
| Q3 25 | $367.4M | $337.7M | ||
| Q2 25 | $356.5M | $319.2M | ||
| Q1 25 | $320.9M | $237.4M | ||
| Q4 24 | $328.7M | $341.5M | ||
| Q3 24 | $316.9M | $292.3M | ||
| Q2 24 | $316.5M | $270.7M | ||
| Q1 24 | $290.5M | $228.1M |
| Q4 25 | $11.8M | $-13.9M | ||
| Q3 25 | $12.5M | $33.5M | ||
| Q2 25 | $17.1M | $34.0M | ||
| Q1 25 | $4.2M | $2.8M | ||
| Q4 24 | $8.7M | $44.8M | ||
| Q3 24 | $-10.2M | $28.8M | ||
| Q2 24 | $9.7M | $22.7M | ||
| Q1 24 | $2.0M | $11.9M |
| Q4 25 | 4.7% | -17.2% | ||
| Q3 25 | 5.0% | 13.6% | ||
| Q2 25 | 6.3% | 14.5% | ||
| Q1 25 | 0.9% | 2.2% | ||
| Q4 24 | 3.1% | 15.3% | ||
| Q3 24 | -5.7% | 12.8% | ||
| Q2 24 | 3.4% | 10.4% | ||
| Q1 24 | 0.0% | 6.0% |
| Q4 25 | 3.0% | -12.9% | ||
| Q3 25 | 3.4% | 9.9% | ||
| Q2 25 | 4.8% | 10.6% | ||
| Q1 25 | 1.3% | 1.2% | ||
| Q4 24 | 2.6% | 13.1% | ||
| Q3 24 | -3.2% | 9.9% | ||
| Q2 24 | 3.1% | 8.4% | ||
| Q1 24 | 0.7% | 5.2% |
| Q4 25 | $0.28 | $-0.41 | ||
| Q3 25 | $0.30 | $0.98 | ||
| Q2 25 | $0.41 | $0.99 | ||
| Q1 25 | $0.10 | $0.08 | ||
| Q4 24 | $0.22 | $1.32 | ||
| Q3 24 | $-0.26 | $0.85 | ||
| Q2 24 | $0.23 | $0.67 | ||
| Q1 24 | $0.05 | $0.35 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $360.1M | $299.3M |
| Total DebtLower is stronger | $247.7M | — |
| Stockholders' EquityBook value | $525.3M | $1.7B |
| Total Assets | $1.9B | $5.1B |
| Debt / EquityLower = less leverage | 0.47× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $360.1M | $299.3M | ||
| Q3 25 | $357.8M | $274.8M | ||
| Q2 25 | $336.8M | $233.7M | ||
| Q1 25 | $312.9M | $181.0M | ||
| Q4 24 | $320.7M | $279.3M | ||
| Q3 24 | $310.9M | $179.8M | ||
| Q2 24 | $304.4M | $208.1M | ||
| Q1 24 | $284.8M | $216.5M |
| Q4 25 | $247.7M | — | ||
| Q3 25 | $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 | $1.7B | ||
| Q3 25 | $509.0M | $1.8B | ||
| Q2 25 | $494.1M | $1.8B | ||
| Q1 25 | $473.3M | $1.7B | ||
| Q4 24 | $470.0M | $1.7B | ||
| Q3 24 | $456.1M | $1.7B | ||
| Q2 24 | $462.4M | $1.7B | ||
| Q1 24 | $446.4M | $1.7B |
| Q4 25 | $1.9B | $5.1B | ||
| Q3 25 | $1.8B | $5.8B | ||
| Q2 25 | $1.8B | $4.7B | ||
| Q1 25 | $1.7B | $4.5B | ||
| Q4 24 | $1.7B | $4.4B | ||
| Q3 24 | $1.7B | $4.6B | ||
| Q2 24 | $1.7B | $4.2B | ||
| Q1 24 | $1.6B | $3.8B |
| Q4 25 | 0.47× | — | ||
| Q3 25 | 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 | $63.1M | $-664.3M |
| Free Cash FlowOCF − Capex | $4.0M | $-680.1M |
| FCF MarginFCF / Revenue | 1.0% | -200.0% |
| Capex IntensityCapex / Revenue | 14.8% | 4.6% |
| Cash ConversionOCF / Net Profit | 5.34× | — |
| TTM Free Cash FlowTrailing 4 quarters | $56.5M | $-2.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.1M | $-664.3M | ||
| Q3 25 | $63.0M | $-948.1M | ||
| Q2 25 | $65.0M | $-238.5M | ||
| Q1 25 | $31.2M | $-281.1M | ||
| Q4 24 | $45.1M | $129.4M | ||
| Q3 24 | $41.9M | $-202.0M | ||
| Q2 24 | $53.5M | $-237.8M | ||
| Q1 24 | $30.7M | $38.4M |
| Q4 25 | $4.0M | $-680.1M | ||
| Q3 25 | $23.7M | $-950.4M | ||
| Q2 25 | $26.9M | $-241.0M | ||
| Q1 25 | $1.9M | $-284.7M | ||
| Q4 24 | $10.4M | $116.4M | ||
| Q3 24 | $7.1M | $-204.0M | ||
| Q2 24 | $20.6M | $-241.7M | ||
| Q1 24 | $-2.4M | $35.2M |
| Q4 25 | 1.0% | -200.0% | ||
| Q3 25 | 6.5% | -281.5% | ||
| Q2 25 | 7.5% | -75.5% | ||
| Q1 25 | 0.6% | -120.0% | ||
| Q4 24 | 3.2% | 34.1% | ||
| Q3 24 | 2.2% | -69.8% | ||
| Q2 24 | 6.5% | -89.3% | ||
| Q1 24 | -0.8% | 15.4% |
| Q4 25 | 14.8% | 4.6% | ||
| Q3 25 | 10.7% | 0.7% | ||
| Q2 25 | 10.7% | 0.8% | ||
| Q1 25 | 9.1% | 1.5% | ||
| Q4 24 | 10.6% | 3.8% | ||
| Q3 24 | 11.0% | 0.7% | ||
| Q2 24 | 10.4% | 1.4% | ||
| Q1 24 | 11.4% | 1.4% |
| Q4 25 | 5.34× | — | ||
| Q3 25 | 5.04× | -28.34× | ||
| Q2 25 | 3.79× | -7.02× | ||
| Q1 25 | 7.36× | -102.07× | ||
| Q4 24 | 5.18× | 2.89× | ||
| Q3 24 | — | -7.01× | ||
| Q2 24 | 5.54× | -10.49× | ||
| Q1 24 | 15.03× | 3.24× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
