Starbucks (SBUX) financials

NASDAQ · Consumer Cyclical · Restaurants · 381,000 employees · CEO Brian R. Niccol

Price: $103.65 -1.76%
Market cap: $118B
Enterprise value: $137B
Last report: Q4 '26 filed 2026-10-29
Next report: 2027-01-27 EPS est. $0.75

Revenue (TTM)$37.9B+1.9% vs a year agoLast 4 quarters; bars = each quarter

Operating margin (TTM)9.7%0.0 pp vs a year agoOperating income $3.66B

Net income (TTM)$2.53B+36.1% vs a year agoAfter tax, incl. non-operating gains

Free cash flow (TTM)$3.72B+52.5% vs a year agoCapex $1.26B

Diluted EPS (TTM)$2.21+34.8% vs a year agoSum of the last 4 quarters

Net cash-$18.5B+19.9% vs a year agoCash + short-term investments - debt

Valuation & key figures

Market cap: $118B
Revenue: $37.9B
Revenue growth: 0%
Profit margin: 6.7%
P/E: 46.9×
P/S: 3.1×
EV / EBITDA: 23.0×
Free cash flow: $3.72B
Net income: $2.53B
Revenue estimate: $38B
Earnings: 2027-01-27
Dividend: $2.48

Key takeaways

Computed from the reported numbers - every statement carries the figure it rests on.

Last report (2026-10-29): revenue missed by 0.9%, EPS beat by 11.3%Revenue $9.14B vs $9.22B expected (-0.9%); EPS $0.80 vs $0.72 (+11.3%).
Revenue growth slowing: -4.5% year on yearQ4 '26 revenue $9.14B, against an average of 4.6% over the four quarters before.
Operating margin 9.7% (TTM), 0.0 pp on a year agoOperating income grew 1.5% while revenue grew 1.9%.
Capex 3.3% of revenue (a year ago 6.2%)$1.26B invested in the last 4 quarters (-45.2% on a year earlier). Free cash flow $3.72B = 147.4% of net income.
Returned $2.82B to shareholders = 75.8% of free cash flowBuybacks $0 (a year earlier $0), dividends $2.82B, stock-based pay $369M (TTM).
Diluted share count up 0.3% in a year1.14B diluted shares in Q4 '26, 1.14B a year earlier.
Net debt $18.5BCash + short-term investments $3.86B, debt incl. leases $22.4B; a year ago net debt $23.1B.

Last quarter: Q4 '26

Quarter ended 2026-09-27. Compared with the same quarter a year earlier and with the analyst consensus before the report.

Quarter vs a year ago

	Q4 '26	Year ago	Change
Revenue	$9.14B	$9.57B	-4.5%
Gross margin	68.0%	23.1%	+44.9 pp
Operating income	$992M	$948M	+4.6%
Operating margin	10.8%	9.9%	+0.9 pp
Net income	$677M	$133M	+408.8%
Diluted EPS	$0.59	$0.12	+391.7%
Operating cash flow	$1.38B	$1.38B	+0.2%
Capex	$376M	$456M	-17.6%
Free cash flow	$1.01B	$926M	+8.9%
R&D	$0	$0	–
Stock-based compensation	$78.2M	$0	–

Reported vs consensus

2026-10-29

	Actual	Consensus	vs consensus
Revenue	$9.14B	$9.22B	-0.9%
EPS (as estimated)	$0.80	$0.72	+11.3%

From the report of 2026-10-29 for Q4 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.

EPS vs consensus

last 8 reports

Revenue

Where the money comes from - by business line and by region, quarter by quarter.

Revenue, operating income and growth

quarterly

Revenue by business line

stacked, quarterly

Segment	Q3 '26	y/y	Share	TTM	TTM y/y
Beverage Member	$5.44B	-5.4%	58.4%	$22.9B	+2.9%
Other Products Member	$2.02B	+5.2%	21.6%	$8.12B	+7.8%
Food Member	$1.86B	+4.2%	20.0%	$7.36B	+6.1%

Revenue by region

share of total

Segment	Q3 '26	y/y	Share	TTM	TTM y/y
United States	$7.38B	+6.6%	79.2%	$28.2B	+5.0%
International Segment	$1.87B	-6.9%	20.1%	$6.65B	-1.7%
CHINA	$68.7M	–	0.7%	–	–

Segment profits

Operating income per reported segment, read from the segment note of each 10-Q / 10-K (the profit split most data feeds leave out).

Segments in Q3 '26

Segment	Revenue	y/y	Operating income	y/y	Margin	Margin a year ago	TTM operating income
North America Segment	–	–	$1.01B	–	–	–	–
International Segment	–	–	$253M	–	–	–	–
Channel Development	–	–	$306M	–	–	–	–
Corporate And Other	–	–	-$588M	–	–	–	–

Operating income by segment

quarterly

Segment operating margin

quarterly

Margins & cost structure

How much of each unit of revenue is left at each level - and where the costs go.

Margins

quarterly

Costs as % of revenue

quarterly

Cash flow & capital allocation

Cash generated, what it is spent on, and what reaches shareholders.

Operating cash flow, capex, free cash flow

quarterly

Uses of cash vs operating cash flow

fiscal years

Last 4 quarters

cash flow statement

Operating cash flow: $4.99B
Capex: -$1.26B
Buybacks: $0
Dividends: -$2.82B
Acquisitions: $0
Net debt issued: -$2.81B
Stock-based compensation: $369M
Free cash flow: $3.72B
Returned to shareholders / FCF: 75.8%

Share count and EPS

quarterly, diluted

Balance sheet

Liquidity, investments and debt at each quarter end.

Cash, investments and debt

quarter ends

Valuation & returns

Today's multiples against the company's own last five fiscal years; analyst targets and ratings.

Multiples and returns

TTM vs 5 fiscal years

	Now	5y average	Where today sits in the 5-year range
P/E (TTM)	46.9×	36.0×	25.4× – 52.5×
EV / EBITDA	23.0×	19.7×	17.0× – 22.1×
EV / Sales	3.6×	3.5×	3.3× – 3.7×
Price / FCF	31.7×	33.8×	28.5× – 40.0×
Price / Book	-15.5×	–	–
FCF yield	3.2%	3.0%	2.5% – 3.5%
Return on invested capital	11.4%	14.4%	8.5% – 19.3%
Return on equity	-31.4%	-39.1%	-51.6% – -22.9%

Analysts

Consensus target $117.27 (+13.1%)
range $105.00 – $130.00 · rating Buy

Strong buy0

Buy28

Hold28

Sell3

Strong sell0

Outlook

Analyst consensus for the coming fiscal years and what it implies at today's price.

Consensus estimates

Fiscal year	Revenue	Growth	EPS	Growth	P/E at today's price	Analysts (EPS)
FY2027	$38B	+0.1%	$3.20	+44.6%	32.4×	17
FY2028	$39.3B	+3.4%	$3.74	+16.9%	27.7×	16
FY2029	$41.8B	+6.3%	$4.28	+14.6%	24.2×	4
FY2030	$44.7B	+7.0%	$4.95	+15.5%	21.0×	1
FY2031	$48.6B	+8.9%	$5.50	+11.2%	18.8×	2

Financial statements

Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.

Income statementRevenue, costs, operating income, net income and EPSOpen Balance sheetCash, investments, assets, debt, liabilities and equityOpen Cash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Every reported line

All 247 figures Starbucks Corporation tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).

Line (SEC label)	Latest quarter	Year ago	y/y	Latest FY	Prior FY	y/y
Accounts Payable, Current	$1.78B2026-06-28	$1.89B	-5.9%	$1.85B2025-09-28	$1.6B	+16.1%
Accounts Receivable, after Allowance for Credit Loss, Current	$1.3B2026-06-28	$1.24B	+5.0%	$1.28B2025-09-28	$1.21B	+5.2%
Accounts Receivable, Allowance for Credit Loss, Current	$24M2025-09-28	$21.2M	+13.2%	$24M2025-09-28	$21.2M	+13.2%
Accrued Income Taxes, Current	$418M2026-06-28	$170M	+145.2%	$150M2025-09-28	$124M	+21.7%
Accrued Liabilities, Current	$2.69B2026-06-28	$2.25B	+19.7%	$2.36B2025-09-28	$2.19B	+7.5%
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$10.7B2026-06-28	$11.4B	-6.7%	$11.3B2025-09-28	$10.8B	+5.3%
Accumulated Other Comprehensive Income (Loss), Net of Tax	-$47.9M2026-06-28	-$535M	+91.1%	-$459M2025-09-28	-$429M	-7.1%
Additional Paid in Capital, Common Stock	$915M2026-06-28	$549M	+66.8%	$634M2025-09-28	$323M	+96.6%
Advertising Expense	–	–	–	$870M2025-09-28	$597M	+45.6%
Amortization of Intangible Assets	$2.9M2026-06-28	$4.4M	-34.1%	$17.6M2025-09-28	$20.4M	-13.7%
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	$72.1M2026-06-28	$66.7M	+8.1%	$322M2025-09-28	$312M	+3.2%
Asset Impairment Charges	$260M2026-06-28	$60.9M	+327.3%	$129M2009-09-27	$202M	-35.9%
Asset Retirement Obligations, Noncurrent	$126M2025-09-28	$119M	+6.0%	$126M2025-09-28	$119M	+6.0%
Assets	$28.3B2026-06-28	$33.6B	-15.9%	$32B2025-09-28	$31.3B	+2.2%
Assets, Current	$7.53B2026-06-28	$8.42B	-10.5%	$7.38B2025-09-28	$6.85B	+7.8%
Assets, Fair Value Disclosure	$4.38B2026-06-28	$4.93B	-11.3%	$4.01B2025-09-28	$4.01B	0.0%
Capitalized Costs, Asset Retirement Costs	$25.5M2025-09-28	$25.1M	+1.6%	$25.5M2025-09-28	$25.1M	+1.6%
Cash and Cash Equivalents, Fair Value Disclosure	$3.45B2026-06-28	–	–	$2.58B2013-09-29	$1.19B	+116.7%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$3.45B2026-06-28	$4.17B	-17.3%	$3.22B2025-09-28	$3.29B	-2.0%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$1.92B2026-06-28	$1.5B	+27.8%	-$66.4M2025-09-28	-$265M	+75.0%
Common Stock, Dividends, Per Share, Declared	$0.622026-06-28	$0.61	+1.6%	$2.452025-09-28	$2.32	+5.6%
Common Stock, Par or Stated Value Per Share	$0.002026-06-28	$0.00	0.0%	$0.002025-09-28	$0.00	0.0%
Common Stock, Shares Authorized	2.4B2026-06-28	2.4B	0.0%	2.4B2025-09-28	2.4B	0.0%
Common Stock, Shares, Issued	1.14B2026-06-28	1.14B	+0.3%	1.14B2025-09-28	1.13B	+0.3%
Common Stock, Shares, Outstanding	1.14B2025-09-28	1.13B	+0.3%	1.14B2025-09-28	1.13B	+0.3%
Common Stock, Value, Issued	$1.1M2026-06-28	$1.1M	0.0%	$1.1M2025-09-28	$1.1M	0.0%
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	-$200K2026-06-28	$300K	-166.7%	-$3.6M2020-09-27	-$4.6M	+21.7%
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$1.41B2026-06-28	$552M	+156.3%	$1.83B2025-09-28	$4.11B	-55.6%
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	$1.41B2026-06-28	$552M	+156.1%	$1.83B2025-09-28	$4.11B	-55.6%
Costs and Expenses	$8.42B2026-06-28	$8.58B	-1.8%	$34.5B2025-09-28	$31.1B	+11.0%
Current Federal Tax Expense (Benefit)	–	–	–	$179M2025-09-28	$681M	-73.7%
Current Foreign Tax Expense (Benefit)	–	–	–	$363M2025-09-28	$329M	+10.2%
Current Income Tax Expense (Benefit)	–	–	–	$662M2025-09-28	$1.22B	-45.8%
Current State and Local Tax Expense (Benefit)	–	–	–	$120M2025-09-28	$211M	-42.9%
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net	$88.5M2026-06-28	$113M	-21.9%	$109M2025-09-28	$114M	-4.0%
Debt Securities, Available-for-sale, Noncurrent	$313M2026-06-28	$232M	+35.0%	$247M2025-09-28	$276M	-10.5%
Deconsolidation, Gain (Loss), Amount	–	–	–	$499M2018-09-30	$93.5M	+433.9%
Deferred Compensation Liability, Current	$116M2025-09-28	$112M	+2.9%	$116M2025-09-28	$112M	+2.9%
Deferred Federal Income Tax Expense (Benefit)	–	–	–	$30.2M2025-09-28	$10.7M	+182.2%
Deferred Foreign Income Tax Expense (Benefit)	–	–	–	-$30.6M2025-09-28	-$23.6M	-29.7%
Deferred Income Tax Assets, Net	$1.51B2026-06-28	$1.81B	-16.6%	$1.83B2025-09-28	$1.77B	+3.4%
Deferred Income Tax Expense (Benefit)	-$111M2026-06-28	$60.5M	-283.3%	-$90.6M2025-09-28	-$13.8M	-556.5%
Deferred Income Tax Liabilities, Net	$50.4M2025-09-28	$21.1M	+138.9%	$50.4M2025-09-28	$21.1M	+138.9%
Deferred Income Taxes and Tax Credits	–	–	–	-$11.7M2025-09-28	-$13.6M	+14.0%
Deferred Revenue	–	–	–	$7B2018-08-26	–	–
Deferred Revenue, Current	$1.82B2026-06-28	$1.91B	-4.9%	$1.84B2025-09-28	$1.78B	+3.3%
Deferred Revenue, Noncurrent	$5.63B2026-06-28	$5.83B	-3.3%	$5.77B2025-09-28	$5.96B	-3.2%
Deferred Revenue, Revenue Recognized	$44.1M2026-06-28	$44.1M	0.0%	$177M2025-09-28	$177M	0.0%
Deferred State and Local Income Tax Expense (Benefit)	–	–	–	-$11.3M2025-09-28	-$700K	-1,514.3%
Deferred Tax and Other Liabilities, Noncurrent	$748M2026-06-28	$718M	+4.2%	$578M2025-09-28	$656M	-11.9%
Deferred Tax Assets, Deferred Income	$1.59B2025-09-28	$1.61B	-1.2%	$1.59B2025-09-28	$1.61B	-1.2%
Deferred Tax Assets, Goodwill and Intangible Assets	$356M2025-09-28	$373M	-4.6%	$356M2025-09-28	$373M	-4.6%
Deferred Tax Assets, Gross	$5.38B2025-09-28	$5.27B	+2.0%	$5.38B2025-09-28	$5.27B	+2.0%
Deferred Tax Assets, Net	$1.78B2025-09-28	$1.75B	+1.8%	$1.78B2025-09-28	$1.75B	+1.8%
Deferred Tax Assets, Net of Valuation Allowance	$5.19B2025-09-28	$5.08B	+2.1%	$5.19B2025-09-28	$5.08B	+2.1%
Deferred Tax Assets, Other	$781M2025-09-28	$692M	+12.8%	$781M2025-09-28	$692M	+12.8%
Deferred Tax Assets, Valuation Allowance	$189M2025-09-28	$195M	-2.7%	$189M2025-09-28	$195M	-2.7%
Deferred Tax Liabilities, Gross	$3.41B2025-09-28	$3.33B	+2.3%	$3.41B2025-09-28	$3.33B	+2.3%
Deferred Tax Liabilities, Other	$302M2025-09-28	$268M	+12.9%	$302M2025-09-28	$268M	+12.9%
Deferred Tax Liabilities, Property, Plant and Equipment	$641M2025-09-28	$581M	+10.4%	$641M2025-09-28	$581M	+10.4%

Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.

Sources

Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-06-28, 10-Q 2026-03-29, 10-Q 2025-12-28, 10-Q 2025-06-29, 10-Q 2025-03-30, 10-Q 2024-12-29, 10-K 2024-09-29, 10-Q 2024-06-30

Not updated in the last refresh (older data or none shown): SEC segments.

Data as of 2026-11-01