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The restaurants possess a distinctive, contemporary design and decor that creates a high-energy ambiance in a casual setting.
COMPETITION
The restaurant industry is highly competitive. There are a substantial number of restaurant operations that compete directly and indirectly with the Cheesecake Factory, many of which have significantly greater financial resources, higher revenues and greater economies of scale. With regard to their bakery operations, overall competition within that market remains intense. They believe that their restaurant and bakery operations compete favorably with consumers on the critical attributes of quality, variety, taste, service, consistency and overall value.
SALES
Their business is subject to seasonal fluctuations. Their highest levels of revenues and net income for their established restaurants have occurred in the second and third quarters of the fiscal year. Approximately two-thirds of their restaurants are located in or near shopping centers and malls that typically experience seasonal fluctuations in …show more content…
Financing Cash Flow Items 28,780 22,834 20,147
Sale/Issuance of Common -- -- --
Repurchase/Retirement Common (49,994) (3,985) (9,259)
Common Stock, Net (49,994) (3,985) (9,259)
Options Exercised 9,533 12,960 16,313
Issuance (Retirement) of Stock, Net (40,461) 8,975 7,054
Total Cash From Financing (11,681) 31,809 27,201
Net Change in Cash 13,738 17,011 (1,126)
Net Cash - Begin Balance/Rsvd for Future Use 31,052 14,041 15,167
Net Cash - End Balance/Rsrv for Future Use 44,790 31,052 14,041
Depreciation, Supplemental 53,064 45,177 35,981
Cash Interest Pd, Suppl 1,786 895 492
Cash Taxes Pd, Supplemental
(http://stocks.us.reuters.com/stocks)
ANALYSIS …show more content…
This stock is in an industry with a relatively large number of competitors, and looking at its sales, it is one of the smaller players. Its valuations lie fairly close to its average industry peer, which has generated market-like returns over the past 5- and 10-year periods.
This stock's forward earnings yield of 5.62% is the annual return it would generate if its profits remained fixed and it paid out all of its earnings as dividends. This is normal compared with the earnings yields of other stocks in its industry, and is healthy in absolute terms. For this company to generate decent returns for investors, it will probably only have to realize moderate growth in earnings or a higher valuation by the market. This stock has also seen steady revenue growth over the past three years. Like its peers, this stock's earnings per share have grown at a very high rate over past three years, though they actually declined last year.
Note that this stock's sustainable growth rate is quite a bit less than the rate at which its earnings per share have grown. That means that the company will probably have to raise additional capital from outside sources at some point if it continues to grow at its current
COMPETITION
The restaurant industry is highly competitive. There are a substantial number of restaurant operations that compete directly and indirectly with the Cheesecake Factory, many of which have significantly greater financial resources, higher revenues and greater economies of scale. With regard to their bakery operations, overall competition within that market remains intense. They believe that their restaurant and bakery operations compete favorably with consumers on the critical attributes of quality, variety, taste, service, consistency and overall value.
SALES
Their business is subject to seasonal fluctuations. Their highest levels of revenues and net income for their established restaurants have occurred in the second and third quarters of the fiscal year. Approximately two-thirds of their restaurants are located in or near shopping centers and malls that typically experience seasonal fluctuations in …show more content…
Financing Cash Flow Items 28,780 22,834 20,147
Sale/Issuance of Common -- -- --
Repurchase/Retirement Common (49,994) (3,985) (9,259)
Common Stock, Net (49,994) (3,985) (9,259)
Options Exercised 9,533 12,960 16,313
Issuance (Retirement) of Stock, Net (40,461) 8,975 7,054
Total Cash From Financing (11,681) 31,809 27,201
Net Change in Cash 13,738 17,011 (1,126)
Net Cash - Begin Balance/Rsvd for Future Use 31,052 14,041 15,167
Net Cash - End Balance/Rsrv for Future Use 44,790 31,052 14,041
Depreciation, Supplemental 53,064 45,177 35,981
Cash Interest Pd, Suppl 1,786 895 492
Cash Taxes Pd, Supplemental
(http://stocks.us.reuters.com/stocks)
ANALYSIS …show more content…
This stock is in an industry with a relatively large number of competitors, and looking at its sales, it is one of the smaller players. Its valuations lie fairly close to its average industry peer, which has generated market-like returns over the past 5- and 10-year periods.
This stock's forward earnings yield of 5.62% is the annual return it would generate if its profits remained fixed and it paid out all of its earnings as dividends. This is normal compared with the earnings yields of other stocks in its industry, and is healthy in absolute terms. For this company to generate decent returns for investors, it will probably only have to realize moderate growth in earnings or a higher valuation by the market. This stock has also seen steady revenue growth over the past three years. Like its peers, this stock's earnings per share have grown at a very high rate over past three years, though they actually declined last year.
Note that this stock's sustainable growth rate is quite a bit less than the rate at which its earnings per share have grown. That means that the company will probably have to raise additional capital from outside sources at some point if it continues to grow at its current