A Business at a Glance
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STARBUCKS CORP
SBUX
$117.6B
Mkt Cap
$103.25
+0.04%
STARBUCKS CORP (SBUX) has a current P/E ratio of 78.6, compared to its historical median P/E of 27.2. The stock is currently considered Expensive based on its historical valuation range.
STARBUCKS CORP (SBUX) has a 5-year average return on invested capital (ROIC) of 125.7%. This indicates strong capital allocation and a potential competitive advantage.
STARBUCKS CORP (SBUX) has a market capitalization of $117.7B. It is classified as a large-cap stock.
Yes, STARBUCKS CORP (SBUX) pays a dividend with a trailing twelve-month yield of 2.38%.
Based on historical P/E analysis, STARBUCKS CORP (SBUX) appears expensive. The current P/E of 78.6 is 189% above its historical median of 27.2. The estimated fair value CAGR (P/E method) is 5.5%.
STARBUCKS CORP (SBUX) operates in the Retail-Eating & Drinking Places industry, within the Consumer Cyclical sector.
STARBUCKS CORP (SBUX) reported annual revenue of $37.2 billion in its most recent fiscal year, based on SEC EDGAR filings.
Starbucks is the world's premier roaster, marketer, and retailer of specialty coffee, operating in 89 markets with approximately 381,000 employees globally. The company generates revenue through company-operated stores selling handcrafted coffee, tea, beverages, and food items; licensed stores operated by partners; and wholesale channels including a Global Coffee Alliance with Nestlé for grocery and foodservice distribution. The business model combines high-volume transaction-based retail with premium pricing supported by brand strength and customer loyalty programs, including a digital platform with mobile ordering and rewards functionality. Starbucks differentiates through its brand recognition, operational standards (including the Green Apron Service model for consistent customer experience), innovation in beverages and food, and a global store network spanning developed markets like the U.S. and higher-growth regions. The company's primary markets are North America and international regions including Asia Pacific, Europe, Middle East, Africa, and Latin America, with significant operations in China historically managed as company-operated stores. Key customer segments span all income levels and age demographics, with particular strength in morning dayparts and growing afternoon occasions through product innovation like customizable refreshers.
【Turnaround momentum accelerating】 Management reports achieving top-line growth driven by transaction increases for the first time in nearly four years, with positive comparable sales trends continuing through April and confidence in sustained momentum through the fiscal year. The company is executing its "Back to Starbucks" strategy focused on operational excellence through the Green Apron Service model, portfolio optimization via store uplifts and closures, and innovation in digital, loyalty, and menu offerings expected to drive growth in 2026 and beyond. Cost pressures from tariffs and elevated coffee prices are expected to moderate in the back half of fiscal 2026, while the company maintains disciplined capital deployment and expects to realize $2 billion in gross cost savings through fiscal 2028 balanced across product, distribution, operating expenses, and G&A. Management emphasizes that earnings growth will follow top-line improvement, with margin expansion driven by sales leverage, cost savings realization, and the accretive impact of the China joint venture structure, while continuing to invest strategically in partner support and customer experience enhancements.
| Metric | Target | Period |
|---|---|---|
| Global comparable sales growth | 5% or better | FY2026 |
| Earnings per share | $2.25–$2.45 | FY2026 |
| U.S. comparable sales growth | 5% or better | FY2026 |
| Consolidated net revenues | roughly flat year-over-year | FY2026 |
| Net new coffeehouses | approximately 600–650 | FY2026 |
| International net new coffeehouses | 450–500 | FY2026 |
| U.S. net new coffeehouses | 150–175 | FY2026 |
Global comparable sales growth (FY2026): “Positive comp trends have continued through April, and this gives us the confidence to take up our fiscal 2026 guidance for global comp growth to 5% or better”
Earnings per share (FY2026): “take up our fiscal 2026 guidance for global comp growth to 5% or better and earnings per share to $2.25-2.45”
U.S. comparable sales growth (FY2026): “led by 5% or better comps in the U.S.”
Consolidated net revenues (FY2026): “we now expect our consolidated fiscal 2026 net revenues to be roughly flat year-over-year”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q2 FY2026 Earnings Call, Q1 FY2026 Earnings Call, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 38.5B | 37.2B | 36.2B | 36.0B | 32.3B | 29.1B |
| Net Income | 1.5B | 1.9B | 3.8B | 4.1B | 3.3B | 4.2B |
| EPS | $1.31 | $1.63 | $3.31 | $3.58 | $2.83 | $3.54 |
| Free Cash Flow | 2.7B | 2.4B | 3.3B | 3.7B | 2.6B | 4.5B |
| ROIC | 36.0% | 53.7% | 123.9% | 171.7% | 143.5% | 136.0% |
| Gross Margin | - | 20.5% | 27.0% | 27.6% | 26.1% | 29.0% |
| Debt/Equity | 0.00 | -1.99 | -2.09 | -1.93 | -1.73 | -2.75 |
| Dividends/Share | $2.46 | $2.45 | $2.32 | $2.16 | $2.00 | $2.29 |
| Operating Income | 2.9B | 2.9B | 5.4B | 5.9B | 4.6B | 4.9B |
| Operating Margin | 7.6% | 7.9% | 15.0% | 16.3% | 14.3% | 16.8% |
| ROE | 0.0% | -23.9% | -48.7% | -49.4% | -46.8% | -64.0% |
| Shares Outstanding | 1,140M | 1,139M | 1,136M | 1,152M | 1,160M | 1,186M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 16.4B | 19.2B | 21.3B | 22.4B | 24.7B | 26.5B | 23.5B | 29.1B | 32.3B | 36.0B | 36.2B | 37.2B | 38.5B |
| Gross Margin | 58.3% | 59.4% | 60.1% | 68.4% | 67.9% | 67.8% | 20.7% | 29.0% | 26.1% | 27.6% | 27.0% | 20.5% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 991M | 1.2B | 1.4B | 1.4B | 1.7B | 1.8B | 1.7B | 1.9B | 2.0B | 2.4B | 2.5B | 2.6B | 2.6B |
| EBIT | 3.1B | 3.6B | 4.2B | 4.1B | 3.9B | 4.1B | 1.6B | 4.9B | 4.6B | 5.9B | 5.4B | 2.9B | 2.9B |
| Op. Margin | 18.7% | 18.8% | 19.6% | 18.5% | 15.7% | 15.4% | 6.6% | 16.8% | 14.3% | 16.3% | 15.0% | 7.9% | 7.6% |
| Net Income | 2.1B | 2.8B | 2.8B | 2.9B | 4.5B | 3.6B | 928M | 4.2B | 3.3B | 4.1B | 3.8B | 1.9B | 1.5B |
| Net Margin | 12.6% | 14.4% | 13.2% | 12.9% | 18.3% | 13.6% | 3.9% | 14.5% | 10.2% | 11.5% | 10.4% | 5.0% | 3.9% |
| Non-Recurring | -14M | -13M | 5.4M | 334M | 761M | 769M | 255M | 155M | 46M | 113M | 0 | 892M | 889M |
| Returns on Capital | |||||||||||||
| ROIC | 46.5% | 41.9% | 40.5% | 49.5% | 99.3% | 178.3% | 40.3% | 136.0% | 143.5% | 171.7% | 123.9% | 53.7% | 36.0% |
| ROE | 42.4% | 49.7% | 48.2% | 65.1% | 218.2% | -142.2% | -13.2% | -64.0% | -46.8% | -49.4% | -48.7% | -23.9% | 0.0% |
| ROA | 18.6% | 23.8% | 21.1% | 20.1% | 23.5% | 16.6% | 3.8% | 13.8% | 11.1% | 14.4% | 12.4% | 5.9% | 4.9% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 608M | 3.7B | 4.7B | 4.3B | 11.9B | 5.0B | 1.6B | 6.0B | 4.4B | 6.0B | 6.1B | 4.7B | 4.3B |
| Free Cash Flow | -553M | 2.4B | 3.3B | 2.7B | 10.0B | 3.2B | 114M | 4.5B | 2.6B | 3.7B | 3.3B | 2.4B | 2.7B |
| Owner Earnings | -324M | 2.6B | 3.4B | 3.0B | 10.4B | 3.3B | -154M | 4.1B | 2.6B | 4.3B | 4.2B | 2.7B | 2.3B |
| CapEx | 1.2B | 1.3B | 1.4B | 1.5B | 2.0B | 1.8B | 1.5B | 1.5B | 1.8B | 2.3B | 2.8B | 2.3B | 1.6B |
| Maint. CapEx | 748M | 934M | 1.0B | 1.1B | 1.3B | 1.4B | 1.5B | 1.5B | 1.5B | 1.5B | 1.6B | 1.8B | 1.7B |
| Growth CapEx | 413M | 370M | 410M | 452M | 670M | 357M | 0 | 0 | 312M | 883M | 1.2B | 534M | 0 |
| D&A | 748M | 934M | 1.0B | 1.1B | 1.3B | 1.4B | 1.5B | 1.5B | 1.5B | 1.5B | 1.6B | 1.8B | 1.7B |
| CapEx/OCF | 191.0% | 34.8% | 31.5% | 35.7% | 16.6% | 35.8% | 92.9% | 24.5% | 41.9% | 38.8% | 45.6% | 48.6% | 37.3% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 783M | 929M | 1.2B | 1.5B | 1.7B | 1.8B | 1.9B | 2.1B | 2.3B | 2.4B | 2.6B | 2.8B | 2.8B |
| Dividend Yield | 1.8% | 1.6% | 1.7% | 2.1% | 2.7% | 2.2% | 2.3% | 1.9% | 2.3% | 2.3% | 2.7% | 2.7% | 2.4% |
| Share Buybacks | 759M | 1.4B | 2.0B | 2.0B | 7.1B | 10.2B | 1.7B | 0 | 4.0B | 984M | 1.3B | 0 | 0 |
| Buyback Yield | 1.7% | 2.1% | 3.1% | 3.1% | 10.6% | 10.8% | 1.9% | N/A | 4.3% | 1.0% | 1.2% | N/A | 0.0% |
| Stock-Based Comp | 183M | 210M | 218M | 176M | 250M | 308M | 249M | 319M | 272M | 303M | 308M | 318M | 359M |
| Debt Repayment | 0 | 610M | 0 | 400M | 0 | 350M | 0 | 1.3B | 1.0B | 1.0B | 1.8B | 1.3B | 1.3B |
| Balance Sheet | |||||||||||||
| Net Debt | 205M | 736M | 1.3B | 1.2B | 502M | 8.4B | 11.7B | 8.0B | 11.9B | 11.4B | 12.0B | 12.6B | 13.4B |
| Cash & Equiv. | 1.7B | 1.5B | 2.1B | 2.5B | 8.8B | 2.7B | 4.4B | 6.5B | 2.8B | 3.6B | 3.3B | 3.2B | 1.7B |
| Long-Term Debt | 2.0B | 2.3B | 3.2B | 3.9B | 9.1B | 11.2B | 14.7B | 13.6B | 13.1B | 13.5B | 14.3B | 14.6B | 13.1B |
| Debt/Equity | 0.39 | 0.40 | 0.61 | 1.32 | 8.07 | -1.79 | -2.09 | -2.75 | -1.73 | -1.93 | -2.09 | -1.99 | 0.00 |
| Interest Coverage | 48.1 | 51.1 | 51.3 | 44.7 | 22.8 | 12.3 | 3.6 | 10.4 | 9.6 | 10.7 | 9.6 | 5.4 | 5.2 |
| Equity | 5.3B | 5.8B | 5.9B | 3.0B | 1.2B | -6.2B | -7.8B | -5.3B | -8.7B | -8.0B | -7.4B | -8.1B | -8.5B |
| Total Assets | 10.8B | 12.4B | 14.3B | 14.4B | 24.2B | 19.2B | 29.4B | 31.4B | 28.0B | 29.4B | 31.3B | 32.0B | 30.6B |
| Total Liabilities | 5.5B | 6.6B | 8.4B | 8.9B | 23.0B | 25.5B | 37.2B | 36.7B | 36.7B | 37.4B | 38.8B | 40.1B | 39.0B |
| Intangibles | 274M | 520M | 516M | 441M | 1.0B | 782M | 552M | 350M | 156M | 121M | 101M | 167M | 176M |
| Retained Earnings | 5.2B | 6.0B | 5.9B | 5.6B | 1.5B | -5.8B | -7.8B | -6.3B | -8.4B | -7.3B | -7.3B | -8.3B | -8.9B |
| Working Capital | 1.1B | 323M | 211M | 1.1B | 6.8B | -515M | 460M | 1.6B | -2.1B | -2.0B | -2.2B | -2.8B | -890M |
| Current Assets | 4.2B | 4.0B | 4.8B | 5.3B | 12.5B | 5.7B | 7.8B | 9.8B | 7.0B | 7.3B | 6.8B | 7.4B | 10.6B |
| Current Liabilities | 3.0B | 3.6B | 4.5B | 4.2B | 5.7B | 6.2B | 7.3B | 8.2B | 9.2B | 9.3B | 9.1B | 10.2B | 11.4B |
| Per Share Data | |||||||||||||
| EPS | 1.38 | 1.82 | 1.90 | 1.97 | 3.24 | 2.92 | 0.79 | 3.54 | 2.83 | 3.58 | 3.31 | 1.63 | 1.31 |
| Owner EPS | -0.22 | 1.72 | 2.33 | 2.05 | 7.44 | 2.67 | -0.13 | 3.49 | 2.24 | 3.69 | 3.69 | 2.33 | 1.98 |
| Book Value | 3.52 | 3.84 | 3.97 | 2.03 | 0.84 | -5.06 | -6.64 | -4.49 | -7.51 | -6.94 | -6.56 | -7.11 | -7.43 |
| Cash Flow/Share | 0.41 | 2.47 | 3.17 | 2.90 | 8.56 | 4.09 | 1.36 | 5.05 | 3.79 | 5.22 | 5.36 | 4.17 | 2.83 |
| Dividends/Share | 0.52 | 0.68 | 0.85 | 1.05 | 1.32 | 1.49 | 1.23 | 2.29 | 2.00 | 2.16 | 2.32 | 2.45 | 2.46 |
| Shares Out. | 1.5B | 1.5B | 1.5B | 1.5B | 1.4B | 1.2B | 1.2B | 1.2B | 1.2B | 1.2B | 1.1B | 1.1B | 1.1B |
| Valuation | |||||||||||||
| P/E Ratio | 22.1 | 24.7 | 23.2 | 23.0 | 14.9 | 26.2 | 96.3 | 28.4 | 28.3 | 23.9 | 28.3 | 50.5 | 78.6 |
| P/FCF | N/A | 27.8 | 20.0 | 24.2 | 6.8 | 29.1 | 782.5 | 26.3 | 36.3 | 26.8 | 32.1 | 38.4 | 43.2 |
| EV/EBIT | 14.9 | 19.1 | 16.1 | 16.3 | 17.6 | 25.2 | 70.4 | 27.9 | 24.6 | 20.3 | 24.0 | 40.3 | 44.7 |
| Price/Book | 8.7 | 11.7 | 11.1 | 12.2 | 57.6 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Sales | 2.8 | 3.0 | 3.3 | 3.1 | 2.7 | 3.0 | 3.5 | 3.9 | 3.0 | 3.0 | 2.7 | 2.8 | 3.1 |
| FCF Yield | -1.2% | 3.6% | 5.0% | 4.1% | 14.8% | 3.4% | 0.1% | 3.8% | 2.8% | 3.7% | 3.1% | 2.6% | 2.3% |
| Market Cap | 45.7B | 68.0B | 65.3B | 66.2B | 67.3B | 94.3B | 89.4B | 119.1B | 92.8B | 98.4B | 106.4B | 93.7B | 117.7B |
| Avg. Price | 29.88 | 38.18 | 46.97 | 46.89 | 47.00 | 65.06 | 70.21 | 96.03 | 83.78 | 92.95 | 84.84 | 91.49 | 103.25 |
| Year-End Price | 29.83 | 44.87 | 44.02 | 45.24 | 48.27 | 76.49 | 76.05 | 100.38 | 80.02 | 85.45 | 93.66 | 82.26 | 103.25 |
STARBUCKS CORP passes 5 of 9 quality checks, suggesting mixed fundamentals.
STARBUCKS CORP trades at 78.6x trailing earnings, compared to its 15-year median P/E of 27.2x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 43.2x vs a median of 26.8x. The company's 5-year average ROIC is 125.7% with a gross margin of 26.0%. Total shareholder yield (dividends) is 2.4%. At current prices, the estimated annualized return to fair value is +8.0%.
STARBUCKS CORP (SBUX) has a net profit margin of 5.0%. This is a modest margin.
STARBUCKS CORP (SBUX) generated $2.4 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
STARBUCKS CORP (SBUX) reported earnings per share (EPS) of $1.63 in its most recent fiscal year.
STARBUCKS CORP (SBUX) has a return on equity (ROE) of -23.9%. A negative ROE may indicate losses or negative equity.
STARBUCKS CORP (SBUX) has a 5-year average gross margin of 26.0%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 19 years of financial data for STARBUCKS CORP (SBUX), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
STARBUCKS CORP (SBUX) has a book value per share of $-7.11, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management reports achieving top-line growth driven by transaction increases for the first time in nearly four years, with positive comparable sales trends continuing through April and confidence in sustained momentum through the fiscal year. The company is executing its "Back to Starbucks" strategy focused on operational excellence through the Green Apron Service model, portfolio optimization via store uplifts and closures, and innovation in digital, loyalty, and menu offerings expected to drive growth in 2026 and beyond. Cost pressures from tariffs and elevated coffee prices are expected to moderate in the back half of fiscal 2026, while the company maintains disciplined capital deployment and expects to realize $2 billion in gross cost savings through fiscal 2028 balanced across product, distribution, operating expenses, and G&A. Management emphasizes that earnings growth will follow top-line improvement, with margin expansion driven by sales leverage, cost savings realization, and the accretive impact of the China joint venture structure, while continuing to invest strategically in partner support and customer experience enhancements.
Based on recent SEC filings and earnings calls, STARBUCKS CORP (SBUX) has provided the following forward guidance: Global comparable sales growth: 5% or better (FY2026); Earnings per share: $2.25–$2.45 (FY2026); U.S. comparable sales growth: 5% or better (FY2026); Consolidated net revenues: roughly flat year-over-year (FY2026); Net new coffeehouses: approximately 600–650 (FY2026), plus 2 additional metrics.
Net new coffeehouses (FY2026): “we still expect to add approximately 600-650 net new coffee houses this fiscal year”
International net new coffeehouses (FY2026): “We expect international to accelerate its growth over the next two quarters to achieve 450-500 net new coffee houses in fiscal 2026”
U.S. net new coffeehouses (FY2026): “We also continue to assume 150-175 net new U.S.”