KPIs & Operating Metrics(New)
Balance Sheet
Cash Flow Statement
Daily Values
Growth Metrics
Income Statement
Others
Accumulated Depreciation & AmortizationCost of RevenueDepreciation & Amortization (IS)Depreciation ExpenseEBIATLeasesMachine, Furnitures, Fixtures & OtherOther Gross PP&E AdjustmentsProperty, Plant & Equipment (Gross)Receivables - NetReceivables - OtherRent Expense
Ratios

Shake Shack (SHAK) Rent Expense (2016 - 2025)

Shake Shack (SHAK) has disclosed Rent Expense for 12 consecutive years, with $29.4 million as the latest value for Q4 2025.

  • On a quarterly basis, Rent Expense rose 22.31% to $29.4 million in Q4 2025 year-over-year; TTM through Dec 2025 was $106.6 million, a 14.57% increase, with the full-year FY2025 number at $106.6 million, up 14.57% from a year prior.
  • Rent Expense was $29.4 million for Q4 2025 at Shake Shack, up from $27.0 million in the prior quarter.
  • In the past five years, Rent Expense ranged from a high of $29.4 million in Q4 2025 to a low of $13.9 million in Q1 2021.
  • A 5-year average of $20.4 million and a median of $20.1 million in 2023 define the central range for Rent Expense.
  • Biggest YoY gain for Rent Expense was 22.31% in 2025; the steepest drop was 10.19% in 2025.
  • Shake Shack's Rent Expense stood at $15.8 million in 2021, then increased by 15.42% to $18.2 million in 2022, then increased by 16.03% to $21.2 million in 2023, then increased by 13.63% to $24.0 million in 2024, then grew by 22.31% to $29.4 million in 2025.
  • Per Business Quant, the three most recent readings for SHAK's Rent Expense are $29.4 million (Q4 2025), $27.0 million (Q3 2025), and $25.6 million (Q2 2025).