More details have emerged about Shake Shack's desire to go public with news that Danny Meyer's international burger chain may be valued as much as $1 billion on the open market. Yes, billion with a B, as in holy shit that's a lot of burgers.

Which means that JPMorgan and Morgan Stanley, who are handling the IPO, are valuing the company at 50 times its projected earnings of $20 million, according to Bloomberg.

Bloomberg compares it with some other restaurant IPOs:

That valuation would put it in line with other dining chains that have tapped into investor appetite for new stocks in recent years. El Pollo Loco Holdings Inc. (LOCO), which raised $123 million in July, now trades at about 60 times projected 2014 earnings, while Potbelly (PBPB) Corp. trades at over 64 times estimated earnings, data compiled by Bloomberg show.

The new restaurants have proven volatile as investments. Potbelly, which more than doubled on its debut last year, now trades below its IPO price.

The company could go public before the year is out.