The Cheesecake Factory (CAKE)

Solvency ratios

	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Debt-to-assets ratio	0.17	0.17	0.17	0.17	0.17	0.17	0.17	0.17	0.17	0.17	0.17	0.10	0.10	0.13	0.13	0.14	0.10	0.14	0.02	0.01
Debt-to-capital ratio	0.60	0.59	0.59	0.61	0.62	0.59	0.56	0.57	0.59	0.59	0.62	0.47	0.49	0.54	0.52	0.48	0.34	0.39	0.06	0.04
Debt-to-equity ratio	1.48	1.46	1.44	1.56	1.60	1.45	1.29	1.31	1.41	1.45	1.63	0.88	0.97	1.17	1.07	0.91	0.51	0.63	0.06	0.04
Financial leverage ratio	8.93	8.63	8.50	9.15	9.50	8.45	7.67	7.75	8.47	8.44	9.57	8.64	9.52	8.78	8.15	6.39	4.97	4.46	3.84	3.83

The solvency ratios of The Cheesecake Factory, based on the provided data, indicate the company's ability to meet its long-term financial obligations and sustain its operations.

The debt-to-assets ratio has remained relatively stable at 0.17 over the past few quarters, suggesting that the company is using 17% of its assets to finance its operations, while the remaining 83% is owned by equity holders.

The debt-to-capital ratio has also shown consistency around 0.60, indicating that approximately 60% of the company's capital structure is funded by debt, with the rest financed through equity.

The debt-to-equity ratio has varied, ranging from 1.29 to 1.63, with a recent increase approaching 1.60, signifying that the company relies more on debt financing compared to equity financing. This may raise concerns about the company's solvency and financial risk.

The financial leverage ratio, reflecting the extent of debt in the company's capital structure, fluctuated significantly, reaching a high of 9.57 and low of 3.83 over the period. Higher leverage ratios indicate a greater reliance on debt, which can amplify both returns and risks for shareholders.

Overall, The Cheesecake Factory's solvency ratios suggest a consistent and standardized approach to capital structure management, with a predominant use of debt to fund its operations. Investors and stakeholders may want to monitor the trends in these ratios to assess the company's financial risk and stability.

Coverage ratios

	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Interest coverage	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

The lack of available data on The Cheesecake Factory's interest coverage for the specified periods prevents a detailed analysis at this time. Interest coverage is a crucial financial ratio that indicates a company's ability to meet its interest obligations on outstanding debt. Without specific numbers to evaluate, it is challenging to assess the company's financial health and its capacity to cover interest expenses with its earnings. Additional information would be necessary to provide a thorough analysis of The Cheesecake Factory's interest coverage and its implications for the company's overall financial performance.