The Cheesecake Factory Incorporated

Who owns The Cheesecake Factory?
The Cheesecake Factory Incorporated is publicly traded on NASDAQ under the ticker symbol CAKE. The company has a broad institutional and retail shareholder base with no controlling shareholder. Co founder David Overton serves as Chairman and CEO and maintains a significant ownership stake. The company went public in 1992.

Who founded The Cheesecake Factory?
The Cheesecake Factory was founded by David Overton, who opened the first restaurant in Beverly Hills, California, in 1978. The cheesecake recipes were developed by his mother, Evelyn Overton, who began baking cheesecakes in Detroit in the 1940s. Evelyn and her husband Oscar moved to Los Angeles in 1972 and opened The Cheesecake Factory Bakery, selling cheesecakes to local restaurants before David opened the first restaurant.

Is The Cheesecake Factory publicly traded?
Yes, The Cheesecake Factory Incorporated is publicly traded on NASDAQ under the ticker symbol CAKE. The company was incorporated in Delaware in 1992 and went public the same year.

How many Cheesecake Factory locations are there?
As of February 2026, the company owned and operated 368 restaurants across the United States and Canada, including 216 The Cheesecake Factory locations, 48 North Italia locations, 43 Flower Child locations, and 55 Fox Restaurant Concepts locations. Additionally, 35 The Cheesecake Factory restaurants operate internationally under licensing agreements.

What other restaurant brands does The Cheesecake Factory own?
In addition to The Cheesecake Factory, the company owns North Italia (Italian restaurants, 48 locations), Flower Child (health focused fast casual, 43 locations), Fox Restaurant Concepts (portfolio of concepts, 55 locations), Grand Lux Cafe, and Social Monk Asian Kitchen. The company acquired FRC and the remaining interest in North Italia in 2019.

What is The Cheesecake Factory's annual revenue?
For fiscal year 2025 (ended December 30, 2025), The Cheesecake Factory reported record total revenue of $3.75 billion, up 4.7% from $3.58 billion in FY2024. Net income was $148.4 million, with adjusted diluted EPS of $3.77, up 10% year over year. The company generated record adjusted EBITDA of $354 million and cash flow from operations of $301 million.

Who is The Cheesecake Factory's CEO?
David Overton, age 79, has served as Chairman of the Board and Chief Executive Officer since the company's incorporation in 1992. He co founded the company with his parents, Oscar and Evelyn Overton, and opened the first The Cheesecake Factory restaurant in Beverly Hills, California, in 1978. David Gordon serves as President.

What is the Fox Restaurant Concepts acquisition?
In 2019, The Cheesecake Factory acquired Fox Restaurant Concepts (FRC) and the remaining interest in North Italia. FRC was founded by Sam Fox and included North Italia, Flower Child, and twelve other restaurant concepts. The acquisition marked a strategic shift toward building a portfolio of restaurant brands beyond the flagship Cheesecake Factory concept. The company had previously made initial minority investments in North Italia and Flower Child in 2016.

The Cheesecake Factory's origins trace to the 1940s, when Evelyn Overton found a recipe in her local Detroit newspaper that inspired her "Original" cheesecake. Everyone loved her recipe so much she decided to open a small bakery in Detroit in the late 1950s, but eventually gave it up to focus on raising her children, David and Renee. She moved her baking equipment to her basement kitchen and continued to sell cakes to some of the best restaurants in town.

In 1972, Evelyn and her husband Oscar moved to Los Angeles to try one last time to have their own business. With the last of their savings, they opened The Cheesecake Factory Bakery and began selling Evelyn's cheesecakes to restaurants throughout Los Angeles.

In 1978, their son David Overton opened the first The Cheesecake Factory restaurant in Beverly Hills, California, to showcase his mother's cakes. The restaurant was distinctive for its large portions, extensive menu, and signature cheesecakes. There was a line out the door on opening day. In 1983, a second restaurant opened in Marina del Rey. By 1987, the Beverly Hills location had expanded into a 78 seat restaurant and was experiencing financial success, leading to the opening of a third, larger location in Redondo Beach.

In 1992, the company was incorporated in Delaware as The Cheesecake Factory Incorporated and went public on NASDAQ, raising capital for further expansion. David Overton planned to open three to four units a year to generate a 25% yearly increase in sales. The first restaurant outside of Southern California opened in Washington, D.C. in the 1990s.

Throughout the 1990s and 2000s, The Cheesecake Factory expanded nationally, opening locations in major shopping centers and urban areas across the United States. The company became known for its consistently long wait times, which reinforced its popularity and perceived value. The company expanded internationally through licensing agreements, with locations in the Middle East, Canada, Mexico, and Asia.

The first Grand Lux Cafe opened in Las Vegas at The Venetian, designed by David Overton as an upscale restaurant modeled after Italian, French, and Austrian styles. RockSugar Southeast Asian Kitchen opened in 2008 at Century City in Los Angeles, and Social Monk Asian Kitchen was later developed as a related concept.

In 2016, The Cheesecake Factory made initial minority investments in North Italia and Flower Child through a strategic relationship with Fox Restaurant Concepts (FRC), founded by Sam Fox. In 2019, the company acquired FRC and the remaining interest in North Italia, bringing North Italia, Flower Child, and twelve other restaurant concepts under The Cheesecake Factory umbrella. This acquisition marked a strategic shift toward building a portfolio of restaurant brands beyond the flagship Cheesecake Factory concept.

The company was significantly impacted by the COVID 19 pandemic in 2020, temporarily closing dining rooms and pivoting to takeout and delivery. The Cheesecake Factory recovered strongly as dining restrictions lifted, with off premise channels continuing to contribute meaningfully to revenue.

In FY2025, the company achieved record annual revenue of $3.75 billion, supported by 25 new restaurant openings and sales growth across its portfolio brands. The company plans to open as many as 26 new restaurants in FY2026, including up to six The Cheesecake Factory restaurants, six to seven North Italia locations, six to seven Flower Child locations, and up to eight FRC restaurants.

The Cheesecake Factory has implemented sustainability initiatives focused on environmental responsibility, food sourcing, and ethical business practices.

Environmental sustainability efforts include reducing carbon emissions across restaurant operations, implementing energy efficient building designs, and waste reduction programs. The company has established sustainability reporting for its restaurant locations and works toward reducing environmental impact through green building practices and supply chain optimization.

Food sourcing and supply chain sustainability include sustainable ingredient sourcing, local supplier partnerships, and ethical food procurement practices. The company maintains responsible sourcing commitments while working to create positive environmental impact through sustainable food service practices.

The Cheesecake Factory Foundation, of which David Overton is a founding member and director, represents the company's philanthropic efforts focused on community engagement and charitable giving.

The company has been recognized on the FORTUNE Magazine "100 Best Companies to Work For" list, reflecting its commitment to employee welfare, workplace culture, and ethical employment practices across approximately 47,000 employees.

Note: The Cheesecake Factory does not hold independently verifiable sustainability certifications such as B Corp, CDP disclosure, or SBTi targets as of the date of this article. The company's sustainability claims are based on its own reporting and corporate initiatives.

The Cheesecake Factory has received recognition for restaurant excellence, workplace culture, and corporate achievement.

• FORTUNE 100 Best Companies to Work For: Named to the FORTUNE Magazine "100 Best Companies to Work For" list, reflecting employee satisfaction and workplace culture
• Industry Leading Unit Volumes: The Cheesecake Factory's average annualized unit volumes consistently lead the casual dining industry, at approximately $12.4 million per location in FY2025
• Record Financial Performance: FY2025 record annual revenue of $3.75 billion and record adjusted EBITDA of $354 million
• Operational Excellence: Year over year improvements in labor productivity, wage management, hourly staff and manager retention, and guest satisfaction in FY2025
• Portfolio Growth: 25 new restaurant openings in FY2025, delivering approximately 7% unit growth across The Cheesecake Factory, North Italia, Flower Child, and FRC brands

The Cheesecake Factory operates under regulatory scrutiny related to food safety, labor practices, and business ethics in the restaurant industry.

COVID 19 rent controversy: In 2020, The Cheesecake Factory sent letters to landlords stating it would not pay April rent due to COVID 19 pandemic impacts. The move was criticized as inappropriate given the company's size and public company status, creating reputational challenges and landlord relationship issues.

Menu caloric content: The company has faced scrutiny regarding the caloric content of its menu items, which are among the highest in the casual dining industry. The Cheesecake Factory's portions are notably large, and some menu items contain more than 2,000 calories. The Center for Science in the Public Interest has periodically highlighted specific menu items for their high caloric, sodium, or fat content through its "XTreme Eating" awards.

Labor practices and workplace conditions: As a major restaurant employer with approximately 47,000 employees, the company faces scrutiny regarding employee compensation, workplace safety, and labor relations across multiple states. The company must navigate complex labor regulations including minimum wage laws, tip credit rules, and scheduling requirements that vary by jurisdiction.

Food safety compliance: The company must maintain food safety standards across 368 restaurants, complying with federal, state, and local food safety regulations. The extensive menu with over 250 items creates operational complexity in maintaining consistent food quality and safety.

Competitive pressure in casual dining: The Cheesecake Factory competes against Olive Garden (Darden Restaurants), Applebee's (Dine Brands), Chili's (Brinker International), and other full service restaurant chains, as well as fast casual concepts offering faster service at lower price points. Changing consumer dining habits and the growth of delivery platforms create structural headwinds for the casual dining sector.

Commodity and wage inflation: The company's operating results have been impacted by geopolitical and macroeconomic events causing supply chain challenges and commodity and wage inflation. While inflation began returning to more historical levels in FY2024, ongoing geopolitical events, government policies, and global trade dynamics could lead to further inflation and supply chain disruptions.