Consumer Cyclical · Restaurants
Price
$104.60
Market Cap
$119.2B
Employees
361,000
Beta
0.98
Avg Volume
7,603,267
CEO
Brian R. Niccol
Business Description
Starbucks Corporation, along with its various subsidiaries, operates worldwide as a key player in roasting, marketing, and selling specialty coffee. Its business is structured into three main operating divisions: North America, International markets, and Channel Development. The company's retail outlets offer a broad assortment of coffee and tea beverages, roasted whole bean and ground coffees, single-serve options, and ready-to-drink products. Customers can also find a variety of food items, including pastries, breakfast sandwiches, and lunch selections. Furthermore, Starbucks extends its brand reach by licensing its trademarks to independently operated stores, grocery retailers, and foodservice accounts. Products are sold under well-known labels such as Starbucks, Teavana, Seattle's Best Coffee, Evolution Fresh, Ethos, Starbucks Reserve, and Princi. As of October 3, 2021, Starbucks had a significant global presence, operating 16,826 company-owned and licensed stores across North America, in addition to 17,007 similar locations internationally. The company, established in 1971, is headquartered in Seattle, Washington.
Business History
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 27, 2026 3:14am (5h ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $29.1B | $32.3B | $36.0B | $36.2B | $37.2B |
| Cost of Revenue | $20.7B | $23.9B | $26.1B | $26.5B | $28.2B |
| Gross Profit | $8.4B | $8.4B | $9.8B | $9.7B | $9.0B |
| Operating Expenses | $3.5B | $3.8B | $4.0B | $4.3B | $5.4B |
| Operating Income | $4.9B | $4.6B | $5.9B | $5.4B | $3.6B |
| Net Income | $4.2B | $3.3B | $4.1B | $3.8B | $1.9B |
| EBITDA | $7.4B | $6.2B | $7.4B | $7.1B | $5.4B |
| EPS | $3.57 | $2.85 | $3.60 | $3.31 | $1.63 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 27, 2026 3:15am (5h ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $6.5B | $2.8B | $3.6B | $3.3B | $3.2B |
| Total Current Assets | $9.8B | $7.0B | $7.3B | $6.8B | $7.4B |
| Total Assets | $31.4B | $28.0B | $29.4B | $31.3B | $32.0B |
| Current Liabilities | $8.2B | $9.2B | $9.3B | $9.1B | $10.2B |
| Long-Term Debt | $13.6B | $13.1B | $13.5B | $14.3B | $14.6B |
| Total Liabilities | $36.7B | $36.7B | $37.4B | $38.8B | $40.1B |
| Total Equity | -$5.3B | -$8.7B | -$8.0B | -$7.4B | -$8.1B |
| Retained Earnings | -$6.3B | -$8.4B | -$7.3B | -$7.3B | -$8.3B |
Cash Flow (Annual)
Last updated: Jun 27, 2026 3:15am (5h ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $6.0B | $4.4B | $6.0B | $6.1B | $4.7B |
| Capital Expenditure | -$1.5B | -$1.8B | -$2.3B | -$2.8B | -$2.3B |
| Free Cash Flow | $4.5B | $2.6B | $3.7B | $3.3B | $2.4B |
| Acquisitions (net) | $1.2B | $59.3M | $0 | $0 | -$177.1M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | -$4.0B | -$984.4M | -$1.3B | $0 |
| Net Change in Cash | $2.1B | -$3.6B | $733.1M | -$265.3M | -$66.4M |
Growth Trends (YoY %)
Last updated: Jun 27, 2026 3:14am (5h ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +11.0% | +11.6% | +0.6% | +2.8% |
| Gross Profit Growth | -0.2% | +17.6% | -1.4% | -7.5% |
| Operating Income Growth | -5.2% | +27.1% | -7.9% | -33.8% |
| Net Income Growth | -21.9% | +25.7% | -8.8% | -50.6% |
| EBITDA Growth | -15.1% | +18.5% | -3.8% | -24.5% |
Dividend History (Last 20)
Last updated: Jun 21, 2026 7:40pm (5d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-05-15 | $0.62 | 2026-03-24 | 2026-05-15 | 2026-05-29 |
| 2026-02-13 | $0.62 | 2025-11-11 | 2026-02-13 | 2026-02-27 |
| 2025-11-14 | $0.62 | 2025-09-08 | 2025-11-14 | 2025-11-28 |
| 2025-08-15 | $0.61 | 2025-06-24 | 2025-08-15 | 2025-08-29 |
| 2025-05-16 | $0.61 | 2025-04-02 | 2025-05-16 | 2025-05-30 |
| 2025-02-14 | $0.61 | 2024-12-11 | 2025-02-14 | 2025-02-28 |
| 2024-11-15 | $0.61 | 2024-09-10 | 2024-11-15 | 2024-11-29 |
| 2024-08-16 | $0.57 | 2024-06-20 | 2024-08-16 | 2024-08-30 |
| 2024-05-16 | $0.57 | 2024-03-20 | 2024-05-17 | 2024-05-31 |
| 2024-02-08 | $0.57 | 2023-12-01 | 2024-02-09 | 2024-02-23 |
| 2023-11-09 | $0.57 | 2023-09-20 | 2023-11-10 | 2023-11-24 |
| 2023-08-10 | $0.53 | 2023-06-21 | 2023-08-11 | 2023-08-25 |
| 2023-05-11 | $0.53 | 2023-04-03 | 2023-05-12 | 2023-05-26 |
| 2023-02-09 | $0.53 | 2022-11-30 | 2023-02-10 | 2023-02-24 |
| 2022-11-09 | $0.53 | 2022-09-28 | 2022-11-11 | 2022-11-25 |
| 2022-08-11 | $0.49 | 2022-06-29 | 2022-08-12 | 2022-08-26 |
| 2022-05-12 | $0.49 | 2022-03-22 | 2022-05-13 | 2022-05-27 |
| 2022-02-10 | $0.49 | 2021-11-16 | 2022-02-11 | 2022-02-25 |
| 2021-11-10 | $0.49 | 2021-09-29 | 2021-11-12 | 2021-11-26 |
| 2021-08-11 | $0.45 | 2021-06-23 | 2021-08-12 | 2021-08-27 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for SBUX — it's generated by the pipeline (
market-narrative step).
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My Notes
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30