The Cheesecake Factory (CAKE)

Debt-to-capital ratio

Jan 31, 2025 Dec 31, 2024 Oct 31, 2024 Sep 30, 2024 Jul 31, 2024 Jun 30, 2024 Apr 30, 2024 Mar 31, 2024 Jan 31, 2024 Dec 31, 2023 Oct 31, 2023 Sep 30, 2023 Jul 31, 2023 Jun 30, 2023 Apr 30, 2023 Mar 31, 2023 Jan 31, 2023 Dec 31, 2022 Oct 31, 2022 Sep 30, 2022
Long-term debt US$ in thousands — 452,062 — 471,558 — 471,054 — 470,551 — 470,047 — 469,543 — 469,040 — 468,536 — 468,032 — 467,528
Total stockholders’ equity US$ in thousands 443,455 443,455 396,379 396,379 373,980 373,980 332,438 332,438 318,062 318,062 321,644 321,644 325,903 325,903 299,839 299,839 292,003 292,003 323,496 323,496
Debt-to-capital ratio 0.00 0.50 0.00 0.54 0.00 0.56 0.00 0.59 0.00 0.60 0.00 0.59 0.00 0.59 0.00 0.61 0.00 0.62 0.00 0.59

January 31, 2025 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $443,455K)
= 0.00

The debt-to-capital ratio of The Cheesecake Factory has experienced fluctuations over the period from September 30, 2022, to January 31, 2025. The ratio reached a peak of 0.62 on December 31, 2022, indicating that 62% of the company's capital was funded by debt at that time. This was followed by a decline to 0.50 on December 31, 2024, showing an improvement in the company's capital structure with a decrease in debt relative to total capital.

Throughout the period, there were alternating patterns of debt and zero debt periods, indicating potential debt repayment or issuance activities. The company seemed to have strategically managed its capital structure by periodically reducing debt levels, as reflected in the zero debt ratios observed at various points.

Overall, the trend in the debt-to-capital ratio suggests that The Cheesecake Factory has been actively managing its debt levels and maintaining a balanced mix of debt and equity to finance its operations and investments.