The Cheesecake Factory (CAKE)

Debt-to-assets ratio

Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Long-term debt US$ in thousands 452,062 470,047 468,032 466,017 280,000
Total assets US$ in thousands 3,041,760 2,840,380 2,775,220 2,798,120 2,747,050
Debt-to-assets ratio 0.15 0.17 0.17 0.17 0.10

December 31, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $452,062K ÷ $3,041,760K
= 0.15

The debt-to-assets ratio of The Cheesecake Factory has shown a moderate increase from 0.10 in 2020 to 0.17 in 2021, and has remained stable at 0.17 in 2022 and 2023. It experienced a slight decrease to 0.15 in 2024. This ratio indicates that the company finances a relatively low portion of its assets through debt, suggesting a conservative approach to leverage. Overall, The Cheesecake Factory's debt-to-assets ratio has been within a reasonable range over the years, indicating a balanced capital structure.