Stock Analysis on Net

Starbucks Corp. (NASDAQ:SBUX)

Analysis of Property, Plant and Equipment

Microsoft Excel

Property, Plant and Equipment Disclosure

Starbucks Corp., balance sheet: property, plant and equipment

US$ in thousands

Microsoft Excel
Oct 1, 2023 Oct 2, 2022 Oct 3, 2021 Sep 27, 2020 Sep 29, 2019 Sep 30, 2018
Land 46,100 46,100 46,200 46,000 46,800 46,800
Buildings 666,500 555,400 587,600 586,800 691,500 557,300
Leasehold improvements 10,133,700 9,066,800 8,637,600 8,262,600 7,948,600 7,372,800
Store equipment 3,332,500 3,018,200 2,934,100 2,800,300 2,659,500 2,400,200
Roasting equipment 859,400 838,500 857,200 796,600 769,600 658,800
Furniture, fixtures and other 1,664,500 1,526,100 1,392,000 1,285,700 1,799,000 1,659,300
Work in progress 607,500 558,700 374,100 377,300 358,500 501,900
Property, plant and equipment, gross 17,310,200 15,609,800 14,828,800 14,155,300 14,273,500 13,197,100
Accumulated depreciation (9,923,100) (9,049,300) (8,459,300) (7,913,900) (7,841,800) (7,268,000)
Property, plant and equipment, net 7,387,100 6,560,500 6,369,500 6,241,400 6,431,700 5,929,100

Based on: 10-K (reporting date: 2023-10-01), 10-K (reporting date: 2022-10-02), 10-K (reporting date: 2021-10-03), 10-K (reporting date: 2020-09-27), 10-K (reporting date: 2019-09-29), 10-K (reporting date: 2018-09-30).

Item Description The company
Property, plant and equipment, gross Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Starbucks Corp. property, plant and equipment, gross increased from 2021 to 2022 and from 2022 to 2023.
Property, plant and equipment, net Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Starbucks Corp. property, plant and equipment, net increased from 2021 to 2022 and from 2022 to 2023.

Asset Age Ratios (Summary)

Starbucks Corp., asset age ratios

Microsoft Excel
Oct 1, 2023 Oct 2, 2022 Oct 3, 2021 Sep 27, 2020 Sep 29, 2019 Sep 30, 2018
Average age ratio 57.48% 58.14% 57.22% 56.09% 55.12% 55.27%

Based on: 10-K (reporting date: 2023-10-01), 10-K (reporting date: 2022-10-02), 10-K (reporting date: 2021-10-03), 10-K (reporting date: 2020-09-27), 10-K (reporting date: 2019-09-29), 10-K (reporting date: 2018-09-30).

Asset age ratio Description The company
Average age ratio As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient. Starbucks Corp. average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.

Average Age

Microsoft Excel
Oct 1, 2023 Oct 2, 2022 Oct 3, 2021 Sep 27, 2020 Sep 29, 2019 Sep 30, 2018
Selected Financial Data (US$ in thousands)
Accumulated depreciation 9,923,100 9,049,300 8,459,300 7,913,900 7,841,800 7,268,000
Property, plant and equipment, gross 17,310,200 15,609,800 14,828,800 14,155,300 14,273,500 13,197,100
Land 46,100 46,100 46,200 46,000 46,800 46,800
Asset Age Ratio
Average age1 57.48% 58.14% 57.22% 56.09% 55.12% 55.27%

Based on: 10-K (reporting date: 2023-10-01), 10-K (reporting date: 2022-10-02), 10-K (reporting date: 2021-10-03), 10-K (reporting date: 2020-09-27), 10-K (reporting date: 2019-09-29), 10-K (reporting date: 2018-09-30).

2023 Calculations

1 Average age = 100 × Accumulated depreciation ÷ (Property, plant and equipment, gross – Land)
= 100 × 9,923,100 ÷ (17,310,20046,100) = 57.48%

Asset age ratio Description The company
Average age As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient. Starbucks Corp. average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.