Stock Analysis on Net
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Stock Analysis on Net

Starbucks Corp. (NASDAQ:SBUX)

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Common-Size Balance Sheet: Assets

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Starbucks Corp., common-size consolidated balance sheet: assets

Microsoft Excel
Sep 28, 2025 Sep 29, 2024 Oct 1, 2023 Oct 2, 2022 Oct 3, 2021 Sep 27, 2020
Cash and cash equivalents
Short-term investments
Accounts receivable, net
Inventories
Prepaid expenses and other current assets
Current assets
Long-term investments
Equity method investments
Other investments
Equity investments
Property, plant and equipment, net
Operating lease, right-of-use asset
Deferred income taxes, net
Other long-term assets
Other intangible assets
Goodwill
Long-term assets
Total assets

Based on: 10-K (reporting date: 2025-09-28), 10-K (reporting date: 2024-09-29), 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).

Cash and Cash Equivalents
The proportion of cash and cash equivalents relative to total assets showed considerable fluctuation. After increasing notably from 14.81% to 20.56% in the second period, it subsequently decreased to around 10% in the last two periods. This suggests an initial accumulation of highly liquid assets followed by a strategic reduction or deployment of cash resources.
Short-term Investments
Short-term investments as a percentage of total assets remained relatively low and stable between 0.5% and 1.4%, without a clear upward or downward trend. This indicates that short-term investments have been a minor and consistent component of the asset base.
Accounts Receivable, Net
Accounts receivable saw an increase from around 3% to over 4% of total assets mid-way, then stabilized near that higher range. This may reflect growth in sales or receivables management leading to a larger representation on the balance sheet.
Inventories
The inventory percentage showed volatility, rising sharply to 7.78% at one point before declining and then slightly increasing again. This variability could indicate changes in inventory policies, supply chain adjustments, or shifts in product demand.
Prepaid Expenses and Other Current Assets
This category experienced a steady decline over time from 2.52% down to around 1%, followed by a modest recent increase. The declining trend suggests improved efficiency or reduced prepayments, with a possible minor reversal in the most recent year.
Current Assets
Current assets as a whole declined from a peak exceeding 31% of total assets to below 24% in the latest period. This decline reflects the combined movements of cash, receivables, inventories, and other current components, pointing toward a strategic allocation or restructuring favoring non-current assets.
Long-term Investments and Related Items
Long-term investments and related accounts such as equity method investments, other investments, and equity investments collectively remained a small portion of total assets. Percentages fluctuated modestly without strong directional change, exhibiting a consistent moderate allocation to these asset types.
Property, Plant, and Equipment, Net
The net property, plant, and equipment asset class showed a steady increase from 21.25% to nearly 27.65%, before a slight dip in the last period. This long-term rise suggests continued investment in operational infrastructure, although the last period's slight reduction may indicate divestitures or changes in capital expenditure strategy.
Operating Lease Right-of-Use Asset
The right-of-use asset related to operating leases remained the largest single line item, around 27%-29.6% of total assets. This balance was stable with a small upward trend, indicating sustained or slightly increasing lease commitments.
Deferred Income Taxes, Net
Deferred tax assets stayed fairly stable around 5.6% to 6.4%, reflecting consistent tax timing differences over time.
Other Long-term Assets
A slight increase in other long-term assets from under 2% to over 2.3% of total assets was observed, possibly suggesting increasing investments or accumulations in miscellaneous long-term resources.
Other Intangible Assets and Goodwill
Other intangible assets decreased steadily from nearly 1.9% to below 0.6% before a small recovery to around 0.5%. Goodwill gradually declined from about 12.25% to approximately 10.5%, indicating possible impairment, asset write-downs, or the amortization impact reducing these intangible balances.
Long-term Assets
Long-term assets as a percentage of total assets increased from about 68.9% to above 78% during the observed periods, indicating a strategic preference for long-term resource allocation. This reflects the combined trends of increases in property, plant, and equipment and the stable or declining current assets.
Total Assets
Total assets are, by definition, 100% at each period, serving as the base for the proportions analyzed.