STARBUCKS CORP SBUX
Starbucks is the premier roaster, marketer, and retailer of specialty coffee in the world, operating in 89 markets. Formed in 1985, Starbucks Corporation's common stock trades on the Nasdaq Global Select Market ("Nasdaq") under the symbol "SBUX." We purchase and roast high-quality coffees that we sell, along with handcrafted coffee, tea, and other beverages and a variety of high-quality food items through company-operated stores ("stores" or "coffeehouses"). We also sell a variety of coffee and tea products and license our trademarks through other channels, such as licensed stores as well as grocery and foodservice through our Global Coffee Alliance with Nestlé S.A. ("Nestlé"). In addition to our flagship Starbucks Coffee® brand, we sell goods and services under the following brands: Teavana®, Ethos®, and Starbucks Reserve®.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $37.18B | $36.18B | $35.98B | $32.25B | $29.06B | $23.52B | $26.51B | $24.72B | $22.39B | $21.32B |
| Cost of revenue | — | — | — | — | — | — | $8.53B | $7.93B | $7.07B | $8.51B |
| Gross profit | — | — | — | — | — | — | $17.98B | $16.79B | $15.32B | $12.81B |
| SG&A | $2.62B | $2.52B | $2.44B | $2.03B | $1.93B | $1.68B | $1.82B | $1.71B | $1.41B | $1.41B |
| Total operating expenses | $34.50B | $31.07B | $30.49B | $27.87B | $24.57B | $22.28B | $22.73B | $21.14B | $18.64B | $17.46B |
| Operating income | $2.94B | $5.41B | $5.87B | $4.62B | $4.87B | $1.56B | $4.08B | $3.88B | $4.13B | $4.17B |
| Interest expense | $542.6M | $562.0M | $550.1M | $482.9M | $469.8M | $437.0M | $331.0M | $170.3M | $92.5M | $81.3M |
| Pre-tax income | $2.51B | $4.97B | $5.40B | $4.23B | $5.36B | $1.16B | $4.47B | $5.78B | $4.32B | $4.20B |
| Income tax | $650.6M | $1.21B | $1.28B | $948.5M | $1.16B | $239.7M | $871.6M | $1.26B | $1.43B | $1.38B |
| Net income | $1.86B | $3.76B | $4.12B | $3.28B | $4.20B | $928.3M | $3.60B | $4.52B | $2.88B | $2.82B |
| EPS, basic | 1.63 | 3.32 | 3.60 | 2.85 | 3.57 | 0.79 | 2.95 | 3.27 | 1.99 | 1.91 |
| EPS, diluted | 1.63 | 3.31 | 3.58 | 2.83 | 3.54 | 0.79 | 2.92 | 3.24 | 1.97 | 1.90 |
| Shares, diluted (wtd. avg.) | $1.14B | $1.14B | $1.15B | $1.16B | $1.19B | $1.18B | $1.23B | $1.39B | $1.46B | $1.49B |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $3.22B | $3.29B | $3.55B | $2.82B | $6.46B | $4.35B | $2.69B | $8.76B | $2.46B | $2.13B |
| Short-term investments | $247.2M | $257.0M | $401.5M | $364.5M | $162.2M | $281.2M | $70.5M | $181.5M | $228.6M | $134.4M |
| Receivables | $1.28B | $1.21B | $1.18B | $1.18B | $940.0M | $883.4M | $879.2M | $693.1M | $870.4M | $768.8M |
| Inventory | $2.19B | $1.78B | $1.81B | $2.18B | $1.60B | $1.55B | $1.53B | $1.40B | $1.36B | $1.38B |
| Total current assets | $7.38B | $6.85B | $7.30B | $7.02B | $9.76B | $7.81B | $5.65B | $12.49B | $5.28B | $4.76B |
| Property, plant and equipment | $8.49B | $8.67B | $7.39B | $6.56B | $6.37B | $6.24B | $6.43B | $5.93B | $4.92B | $4.53B |
| Goodwill | $3.37B | $3.32B | $3.22B | $3.28B | $3.68B | $3.60B | $3.49B | $3.54B | $1.54B | $1.72B |
| Other intangibles | $166.8M | $100.9M | $120.5M | $155.9M | $349.9M | $552.1M | $781.8M | $1.04B | $441.4M | $516.3M |
| Total assets | $32.02B | $31.34B | $29.45B | $27.98B | $31.39B | $29.37B | $19.22B | $24.16B | $14.37B | $14.31B |
| Accounts payable | $1.85B | $1.60B | $1.54B | $1.44B | $1.21B | $997.9M | $1.19B | $1.18B | $782.5M | $730.6M |
| Short-term debt | $1.50B | $1.25B | $1.82B | $1.75B | $998.9M | $1.25B | $0 | $349.9M | $0 | $399.9M |
| Total current liabilities | $10.21B | $9.07B | $9.35B | $9.15B | $8.15B | $7.35B | $6.17B | $5.68B | $4.22B | $4.55B |
| Long-term debt | $14.58B | $14.32B | $13.55B | $13.12B | $13.62B | $14.66B | $11.17B | $9.09B | $3.93B | $3.19B |
| Total liabilities | $40.11B | $38.78B | $37.43B | $36.68B | $36.71B | $37.17B | $25.45B | $22.98B | $8.91B | $8.42B |
| Retained earnings | -$8.27B | -$7.34B | -$7.26B | -$8.45B | -$6.32B | -$7.82B | -$5.77B | $1.46B | $5.56B | $5.95B |
| Total equity | -$8.10B | -$7.45B | -$7.99B | -$8.70B | -$5.31B | -$7.80B | -$6.23B | $1.18B | $5.46B | $5.89B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $4.75B | $6.10B | $6.01B | $4.40B | $5.99B | $1.60B | $5.05B | $11.94B | $4.25B | $4.70B |
| Depreciation and amortisation | $1.77B | $1.59B | $1.45B | $1.53B | $1.52B | $1.50B | $1.45B | $1.31B | $1.07B | $1.03B |
| Stock-based compensation | $318.3M | $308.3M | $302.7M | $271.5M | $319.1M | $248.6M | $308.0M | $250.3M | $176.0M | $218.1M |
| Capital expenditure | $2.31B | $2.78B | $2.33B | $1.84B | $1.47B | $1.48B | $1.81B | $1.98B | $1.52B | $1.44B |
| Investing cash flow | -$2.49B | -$2.70B | -$2.27B | -$2.15B | -$319.5M | -$1.71B | -$1.01B | -$2.36B | -$850.0M | -$2.22B |
| Financing cash flow | -$2.30B | -$3.72B | -$2.99B | -$5.64B | -$3.65B | $1.71B | -$10.06B | -$3.24B | -$3.08B | -$1.87B |
| Dividends paid | $2.77B | $2.58B | $2.43B | $2.26B | $2.12B | $1.92B | $1.76B | $1.74B | $1.45B | $1.18B |
| Buybacks | $0 | $1.27B | $984.4M | $4.01B | $0 | $1.70B | $10.22B | $7.13B | $2.04B | $2.00B |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000829224-25-000114.
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