CAKE (The Cheesecake Factory) Cyclically Adjusted PB Ratio: (As of Sep. 20, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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Charlie Tian
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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

CAKE The Cheesecake Factory Inc CAKE
65 GF Score
Price $96.53
GF Value $54.01
Valuation Significantly Overvalued
! 5 Warning Signs
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What is The Cheesecake Factory Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


The Cheesecake Factory  (NAS:CAKE) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


The Cheesecake Factory Cyclically Adjusted PB Ratio Related Terms


The Cheesecake Factory Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for The Cheesecake Factory's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

The Cheesecake Factory Cyclically Adjusted PB Ratio Chart

The Cheesecake Factory Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.14 2.55 2.91 4.04 4.47

The Cheesecake Factory Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.40 4.76 4.48 4.85 7.06

CAKE vs JMKE, BROS, CAVA: Cyclically Adjusted PB Ratio Comparison

For the Restaurants subindustry, The Cheesecake Factory's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


The Cheesecake Factory Cyclically Adjusted PB Ratio vs Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, The Cheesecake Factory's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where The Cheesecake Factory's Cyclically Adjusted PB Ratio falls into.


CAKE
65GF Score
The Cheesecake Factory Inc CAKE
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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The Cheesecake Factory Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

The Cheesecake Factory's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, The Cheesecake Factory's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=10.426/333.9520*333.9520
=10.426

Current CPI (Jun. 2026) = 333.9520.

The Cheesecake Factory Quarterly Data

Book Value per Share CPI Adj_Book
201609 12.358 241.428 17.094
201612 12.648 241.432 17.495
201703 13.098 243.801 17.941
201706 13.427 244.955 18.305
201709 12.646 246.819 17.110
201712 13.373 246.524 18.116
201803 13.003 249.554 17.401
201806 13.372 251.989 17.721
201809 13.446 252.439 17.788
201812 12.738 251.233 16.932
201903 11.958 254.202 15.710
201906 12.050 256.143 15.710
201909 11.958 256.759 15.553
201912 12.771 256.974 16.597
202003 9.216 258.115 11.924
202006 7.741 257.797 10.028
202009 7.095 260.280 9.103
202012 6.328 260.474 8.113
202103 6.820 264.877 8.599
202106 5.464 271.696 6.716
202109 6.172 274.310 7.514
202112 6.322 278.802 7.573
202203 6.731 287.504 7.818
202206 6.898 296.311 7.774
202209 6.261 296.808 7.045
202212 5.706 296.797 6.420
202303 5.827 301.836 6.447
202306 6.356 305.109 6.957
202309 6.323 307.789 6.860
202312 6.279 306.746 6.836
202403 6.522 312.332 6.973
202406 7.347 314.175 7.809
202409 7.781 315.301 8.241
202412 8.639 315.605 9.141
202503 6.852 319.799 7.155
202506 8.054 322.561 8.338
202509 8.538 324.800 8.779
202512 8.793 324.054 9.062
202603 9.225 330.213 9.329
202606 10.426 333.952 10.426

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is The Cheesecake Factory (CAKE) Overvalued in 2026?

Based on GuruFocus' analysis, The Cheesecake Factory stock appears to be overvalued. The current stock price of $96.53 is trading 78.7% above its estimated GF Value™ of $54.01. GuruFocus considers The Cheesecake Factory to be Significantly Overvalued.

Key valuation signals for CAKE:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: $54.01 vs. price of $96.53 (78.7% above fair value)
  • GF Score™: 65/100 with 5 warning signs

No single metric tells the full story. See the CAKE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


The Cheesecake Factory Business Description

Other Exchanges 1CAKE:ItalyCF2:Germany
Address 26901 Malibu Hills Road, Calabasas Hills, CA, USA, 91301
The Cheesecake Factory Inc is a restaurant company that owns and operates multiple casual dining brands across the United States and Canada under brands that include The Cheesecake Factory, North Italia, Flower Child, and additional brands within its Fox Restaurant Concepts portfolio. The company's international presence, in the Middle East and Mexico, is through licensing agreements with third parties. The company also has a bakery division that produces cheesecakes and other baked products for sale in its restaurants, international licensees, and third-party bakery customers. The company has four operating business segments: The Cheesecake Factory restaurants, North Italia, Other FRC, and Other. The majority of the company's revenue comes from the Cheesecake Factory restaurants segment.
65GF Score

Get the complete analysis for CAKE

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$96.53
Price
$54.01
GF Value