On this page of Benford's Law Stocks.com we present our study of Shake Shack Inc. — ticker symbol SHAK. SEC filings have been screened by our Benford's Law software, for quarterly 10Q and annual 10K filings from 7/31/2020 to 5/1/2025 for Shake Shack Inc. under CIK number 0001620533. For filings made in XBRL (eXtensible Business Reporting Language) format, our algorithm extracts all "tagged" numbers presented by the company; for any non-XBRL filings our algorithm uses its own interal set of rules to extract what it believes to be numbers as found throughout the filings. The format found for each filing is presented below together with the results for SHAK, with the percentage of found numbers beginning with each digit (1's, 2's, 3's, 4's, 5's, 6's, 7's, 8's, and 9's) charted against the "normal" range observed throughout our coverage universe, as well as the "normal" range for Shake Shack Inc. based on the past SHAK filings our system processed in the past.
Benford Chart for SHAK 10Q Filed 5/1/2025
23.5
26.4
14.0
16.6
7.6
2.7
1.8
4.6
2.8
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
XBRL? ✓  [ original filing, SHAK stockholder letter ]
Total numbers found: 565
Recent share count: 40,082,069 (4's column)

■ = Typical range across full coverage universe
# of Numbers Found in Filing
Benford's Law Stocks Indicator
565
Normal-to-low count compared to other filers, above the bottom quartile. At this number count, it would take about 6 numbers to move any given column by a full percentage point.
Benford's Law Stocks Score for SHAK = 52
52

Starting from a possible score of 100, we made the following score deductions:
 • We deducted point upon observing the 1's percentage was below the typical coverage universe range.
 • The 2's percentage was higher than the 1's percentage, increasing the penalty multiplier.
 • We deducted points (includes the impact of penalty multiplier) upon observing the 2's percentage was above the typical coverage universe range.
 • We deducted points (includes the impact of penalty multiplier) upon observing the 2's percentage was above the company's typical historical range.
 • The 4's percentage was higher than the 3's percentage, increasing the penalty multiplier.
 • However, because we observed that the company's shares outstanding count begins with the digit 4, we canceled the penalty multiplier.
 • We deducted points upon observing the 4's percentage was above the typical coverage universe range.
 • We deducted points upon observing the 4's percentage was above the company's typical historical range.
 • We deducted points upon observing the 6's percentage was below the typical coverage universe range.
 • We deducted points upon observing the 6's percentage was below the company's typical historical range.
 • We deducted points upon observing the 7's percentage was below the typical coverage universe range.
 • We deducted points upon observing the 7's percentage was below the company's typical historical range.
 • The 8's percentage was higher than the 7's percentage, increasing the penalty multiplier.
 • This is the 2nd column with percentage higher than the prior column, resulting in a penalty deduction.
 • We deducted point upon observing the 9's percentage was below the typical coverage universe range.
SHAK's Score Vs. Typical Stock
Benford's Law Stocks Indicator
SHAK
Low score compared to other filers, falling in the bottom quartile.
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Check our work! We provide our Shake Shack Inc. Benford's Law analysis for informational purposes only, and our software should be expected to make mistakes and contain errors (nothing you see on this website should be relied upon for any decision-making without first repeating the analysis yourself independently), and so below we present to you all of the numbers our system detected, for the SHAK filing above. This way, you can open the filing on your own and compare what you see below against what you yourself find. This can also be helpful for exploring any columns in particular that caught your eye.

1's 2's 3's
We found 133 numbers that start with the digit 1. Here they are:
10,000,000
10,000,000
18,284
19,687
12,201
10,958
1,727,464
1,696,971
19,538
190,632
187,313
1,229,959
1,203,345
1
1,727,464
1,696,971
11,060
174
11
10
1
1
1
1
174
1
1
1
142,669
15
10,924
10,924
16,777
174
1
1
127,567
1
145
145
18,817
18,490
131
164
1,403
1,696
17,213
1,763
11,307
1,290
145
123
1
1
10,638
10,034
10,699
1,759
1,666
17,863
17,060
1,653
162
1,491
12,006
15,260
12,761
19,538
130
170.42
100,000
1.5
1.0
15,000
17
17
18
14,994
12,225
10,512
18,490
1,354
180
147
114
17,010
179,031
1,505
15,505
141,621
19,775
180
1,290
100.0
100.0
1
1
142,669
127,567
10,924
10,924
10,924
10,924
1,148
104
14.0
19.0
142,669
127,567
10,924
153,593
161,067
105,157
113
15
1,115
15
192
192
1,467
1,467
11
10
118,213
123,969
1,214
187
1,115
152
181
145
1,727,464
1,696,971
We found 149 numbers that start with the digit 2. Here they are:
200,000,000
200,000,000
2,444,789
2,455,713
2,444,789
2,455,713
2,444,789
28,086
21,801
20,678
23,609
20,548
25,422
21,004
246,945
246,683
247,421
247,017
27,833
2
2
26,984
2
24,189
23,608
280,552
290,504
24,631
22,188
26,543
25,441
2,753
2,057
290,470
2,842
2,971
2,732
2,214
268
2,040
2,214
2,213
268
2,039
2,455,713
2
26,984
23,608
268
21
21
2,444,789
2
2
24,189
2,834,513
25,953
2,040
2,214
211
286
286
2,502
2,502
2,801,013
25,907
2,214
26,543
25,441
262
262
20,674
2,057
2,389
2,757
2,375
2,225
2,027
23,128
29,352
29,352
21
24
224,653
260,203
256
280,552
290,504
24,208
2,189
2,584
28,086
21,801
2,189
2,584
21,004
250,000
20
234,488
256,900
262
262
250,000
250,000
246,945
246,683
2.5
23
20,674
235
216
28,013
25,060
2,312
27,531
235
23,319
2,444,789
2,455,713
2,040
286
2,859
24
248,114
247,734
2,040
2,040
2,444,789
2,801,013
22,718
22,415
233
229
214
227
24
248,114
247,734
21
290,504
24,631
22,188
26,543
25,441
2,753
2,057
2,971
2,214
2,214
We found 79 numbers that start with the digit 3. Here they are:
35,000,000
35,000,000
312,921
320,714
364,603
368,216
345,696
341,586
30,324
31,229
309,838
320,898
35,944
3,218
318,056
34
3,206
39,515
319
319
3,062
3,062
31,229
39,474,315
39
3
3
3,718
3,718
33,500
33,500
39,635,382
3
3,642
33
370
331
3,786
3,760
31,222
30,665
33,054
35,550
320,714
312,921
333
309,838
319
320,898
317
30
3,055
3,317
3,894
332
331,463
30,636
319
3,252
33,500
33,500
33,500
33,500
3,393
3,642
3,316
326
3,642
33,500
3,358
3,314
303
39,515
3
350
320,898
35,944
3,218
3,206
4's 5's 6's
We found 94 numbers that start with the digit 4. Here they are:
40,221,661
40,068,068
40,221,661
40,068,068
40,221,863
481,873
457,186
442,678
424,611
494,499
40
40
442,047
442,993
473,316
470,018
497,505
493,626
48,262
41,856
40,640
4,513
4,245
40,120
41,864
41,259
4,513
4,512
4,244
40,068,068
40
442,993
493,626
4,245
4,513
4,653
4,653
40,221,661
40
442,047
497,505
426,601
469,370
40
427,530
4
472,293
4,513
4,541
4,874
409
44,361
474
423,088
413,793
422
459
419
419
4,993
4,086
442,678
424,611
457,672
436,836
494,499
4,993
4,086
4,375
4,601
4,844
40,221,661
40,068,068
42,666,450
42,523,781
4,245
4,417
4,541
4,115
426
4,541
404
4,245
4,245
40,120
41,864
41,259
49
404
48,262
41,856
40,640
4,513
4,513
We found 43 numbers that start with the digit 5. Here they are:
5,312
562,286
551,600
57,538
55,739
514,637
526
563
508
5,250
518
5,577
5,365
518
526
5,566
5,840
589
5,700
5,735
535
5,869
5.8679
50,000
57,538
55,739
514,637
587,680
562,940
5,603
5,206
52,987
5,276
556,915
5.7
5.8
5.8
5,577
526
563
508
518
535
We found 15 numbers that start with the digit 6. Here they are:
6,014
63,005
606
644
650
6,421
6,659
6,999
6.2
6.2
6.0
6.1
6.7
68
695
7's 8's 9's
We found 10 numbers that start with the digit 7. Here they are:
70,864
737
702
709
7,793
7,163
735,946
783
70
737
We found 26 numbers that start with the digit 8. Here they are:
86,037
80,253
86,668
81,509
8,342
8,327
857
8,450
8,196
820
844
8,616
87,118
80,850
804
8,342
89,397
85
82
878
85
85
86,037
80,253
86,668
81,509
We found 16 numbers that start with the digit 9. Here they are:
9,952
910
9,662
94.3
9,633
98
968
92,492
91,036
910
94.3
94.2
96
94.2
93.3
9,393
While the above SHAK 10Q Filed 5/1/2025 is interesting in isolation, we have found that it is also useful to take a look at older Shake Shack Inc. filings processed by our Benford's Law Stocks algorithm, to see how the company's filings "typically look" on a Benford's Law analysis. Below we repeat the 10Q Filed 5/1/2025 but instead of the chart comparing against the typical company across our coverage universe, below we show the same chart compared against the typical SHAK 10Q and 10K filings that we have processed historically. This is followed by similar charts for each of those historical filings.

10Q Filed 5/1/2025
23.5
26.4
14.0
16.6
7.6
2.7
1.8
4.6
2.8
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 52
XBRL? ✓  [ original filing ]
Total numbers found: 565

■ = Typical SHAK range from 7/31/2020 to 5/1/2025
10Q Filed 8/2/2024
23.7
19.4
17.4
13.1
9.3
4.8
5.5
3.2
3.5
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 84
XBRL? ✓  [ original filing ]
Total numbers found: 793

■ = Typical SHAK range from 7/31/2020 to 5/1/2025
10Q Filed 11/3/2023
25.5
19.5
18.9
10.9
4.6
5.7
6.5
4.7
3.7
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 81
XBRL? ✓  [ original filing ]
Total numbers found: 801

■ = Typical SHAK range from 7/31/2020 to 5/1/2025
10K Filed 2/23/2023
24.1
22.1
14.5
10.6
8.1
6.3
5.5
5.3
3.6
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 96
XBRL? ✓  [ original filing ]
Total numbers found: 1,204

■ = Typical SHAK range from 7/31/2020 to 5/1/2025
10Q Filed 5/6/2022
28.2
20.9
19.3
10.4
5.5
6.2
4.4
2.6
2.6
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 88
XBRL? ✓  [ original filing ]
Total numbers found: 549

■ = Typical SHAK range from 7/31/2020 to 5/1/2025
10Q Filed 8/6/2021
27.8
21.5
23.7
7.9
4.7
4.8
4.0
2.4
3.1
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 72
XBRL? ✓  [ original filing ]
Total numbers found: 794

■ = Typical SHAK range from 7/31/2020 to 5/1/2025
10Q Filed 10/30/2020
27.9
18.7
21.7
9.1
7.8
4.6
4.8
2.9
2.3
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 88
XBRL? ✓  [ original filing ]
Total numbers found: 952

■ = Typical SHAK range from 7/31/2020 to 5/1/2025
10K Filed 2/21/2025
27.1
20.5
16.3
8.8
7.0
5.5
5.3
4.1
5.4
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 84
XBRL? ✓  [ original filing ]
Total numbers found: 1,245

■ = Typical SHAK range from 7/31/2020 to 5/1/2025
10Q Filed 5/3/2024
24.7
25.0
17.6
12.0
6.7
3.1
2.7
4.4
3.8
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 69
XBRL? ✓  [ original filing ]
Total numbers found: 551

■ = Typical SHAK range from 7/31/2020 to 5/1/2025
10Q Filed 8/4/2023
24.6
20.6
16.9
12.7
8.5
5.8
5.0
3.3
2.7
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 91
XBRL? ✓  [ original filing ]
Total numbers found: 781

■ = Typical SHAK range from 7/31/2020 to 5/1/2025
10Q Filed 11/4/2022
24.4
23.9
19.0
10.4
6.1
6.1
2.3
4.7
3.1
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 84
XBRL? ✓  [ original filing ]
Total numbers found: 770

■ = Typical SHAK range from 7/31/2020 to 5/1/2025
10K Filed 2/18/2022
25.8
21.3
15.7
10.2
8.7
5.1
5.6
4.1
3.5
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 97
XBRL? ✓  [ original filing ]
Total numbers found: 1,246

■ = Typical SHAK range from 7/31/2020 to 5/1/2025
10Q Filed 5/7/2021
28.4
19.3
20.6
8.5
7.1
4.9
4.2
3.4
3.6
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 93
XBRL? ✓  [ original filing ]
Total numbers found: 553

■ = Typical SHAK range from 7/31/2020 to 5/1/2025
10Q Filed 7/31/2020
29.7
18.2
20.9
6.4
5.8
4.1
6.3
4.1
4.6
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 73
XBRL? ✓  [ original filing ]
Total numbers found: 920

■ = Typical SHAK range from 7/31/2020 to 5/1/2025
10Q Filed 10/31/2024
27.8
18.1
17.5
11.9
5.6
5.2
5.8
4.5
3.5
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 93
XBRL? ✓  [ original filing ]
Total numbers found: 805

■ = Typical SHAK range from 7/31/2020 to 5/1/2025
10K Filed 2/29/2024
26.5
21.1
18.7
12.4
5.5
4.4
5.1
3.1
3.3
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 81
XBRL? ✓  [ original filing ]
Total numbers found: 2,222

■ = Typical SHAK range from 7/31/2020 to 5/1/2025
10Q Filed 5/5/2023
25.5
24.7
17.0
12.5
5.2
4.4
3.9
4.4
2.4
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 85
XBRL? ✓  [ original filing ]
Total numbers found: 542

■ = Typical SHAK range from 7/31/2020 to 5/1/2025
10Q Filed 8/5/2022
27.0
21.1
21.8
10.1
5.3
5.6
4.1
2.7
2.3
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 85
XBRL? ✓  [ original filing ]
Total numbers found: 779

■ = Typical SHAK range from 7/31/2020 to 5/1/2025
10Q Filed 11/5/2021
23.9
21.6
22.7
9.2
7.7
5.9
2.7
3.2
3.1
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 83
XBRL? ✓  [ original filing ]
Total numbers found: 781

■ = Typical SHAK range from 7/31/2020 to 5/1/2025
10K Filed 2/26/2021
27.6
19.6
15.4
10.0
10.2
4.7
5.8
3.0
3.7
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 69
XBRL? ✓  [ original filing ]
Total numbers found: 1,315

■ = Typical SHAK range from 7/31/2020 to 5/1/2025
NCL 10Q Filed 7/18/2025:
84
TBH 10Q Filed 7/18/2025:
87
DIT 10Q Filed 7/18/2025:
80
KMI 10Q Filed 7/18/2025:
99
NFLX 10Q Filed 7/18/2025:
67
DRI 10K Filed 7/18/2025:
98
FEIM 10K Filed 7/18/2025:
60
AXP 10Q Filed 7/18/2025:
98
MMM 10Q Filed 7/18/2025:
97
ALV 10Q Filed 7/18/2025:
92
ANGO 10K Filed 7/18/2025:
86
FR 10Q Filed 7/17/2025:
53
TCBI 10Q Filed 7/17/2025:
84
UAL 10Q Filed 7/17/2025:
81
SGRP 10Q Filed 7/17/2025:
75
ELV 10Q Filed 7/17/2025:
91
MLRT 10Q Filed 7/17/2025:
98
NKE 10K Filed 7/17/2025:
92
KMTS 10K Filed 7/17/2025:
98
IIIN 10Q Filed 7/17/2025:
95
FAST 10Q Filed 7/17/2025:
96
SNA 10Q Filed 7/17/2025:
85
MMC 10Q Filed 7/17/2025:
88
TRV 10Q Filed 7/17/2025:
92
PEP 10Q Filed 7/16/2025:
92
TFIN 10Q Filed 7/16/2025:
97
PKE 10Q Filed 7/16/2025:
39
TRONU 10Q Filed 7/16/2025:
23
COOLU 10Q Filed 7/16/2025:
26
KACUF 10Q Filed 7/16/2025:
67
OAKUU 10Q Filed 7/16/2025:
43
EZOO 10Q Filed 7/16/2025:
76
OMC 10Q Filed 7/15/2025:
75
CBRRF 10Q Filed 7/15/2025:
62
DBMM 10Q Filed 7/15/2025:
9
NTRP 10Q Filed 7/15/2025:
81
CCEL 10Q Filed 7/15/2025:
53
BTCY 10K Filed 7/15/2025:
49
LVO 10K Filed 7/15/2025:
99
HUDA 10Q Filed 7/15/2025:
56
 

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