Common-Size Balance Sheet: Assets
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- Statement of Comprehensive Income
- Balance Sheet: Assets
- Cash Flow Statement
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Capital Asset Pricing Model (CAPM)
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Starbucks Corp., common-size consolidated balance sheet: assets
Based on: 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), 10-K (reporting date: 2019-09-29).
- Cash and cash equivalents
- The proportion of cash and cash equivalents relative to total assets fluctuated notably over the periods. It peaked at 20.56% in 2021 before declining to 10.49% by 2024, indicating a reduction in liquid asset holdings after a temporary increase.
- Short-term investments
- Short-term investments remained a minor portion of total assets throughout, with slight variability. There was a small increase reaching 1.36% in 2023 followed by a decrease to 0.82% in 2024.
- Accounts receivable, net
- Accounts receivable showed a general decline from 4.57% in 2019 to 3.87% in 2024, with some fluctuation around 4% in 2022 and 2023, suggesting slightly reduced credit sales or improved collection efficiency.
- Inventories
- Inventory levels as a percentage of total assets decreased from 7.96% in 2019 to 5.67% in 2024 after an intermediate rise to 7.78% in 2022. This might reflect shifts in inventory management or changes in product demand.
- Prepaid expenses and other current assets
- There was a consistent decline in prepaid expenses and other current assets from 2.54% in 2019 to 1.00% in 2024, indicating a reduction in prepayments or other short-term asset components.
- Current assets
- The overall percentage of current assets declined from 29.42% in 2019 to 21.85% in 2024, driven primarily by declines in cash equivalents, inventories, and prepaid expenses, highlighting a shift towards a less liquid asset structure.
- Long-term investments
- Long-term investments remained relatively stable, fluctuating mildly around 0.7% to 1.0%, exhibiting no significant change or trend over the periods.
- Equity method investments
- Equity method investments decreased sharply from 1.75% in 2019 to 0.69% in 2021 but then increased to 1.35% in 2024, suggesting adjustments in related ventures or changes in investment valuations.
- Other investments
- Other investments showed a downward trend initially, from 0.31% in 2019 to 0.08% in 2023, followed by a slight recovery to 0.13% in 2024, but these remain a very small part of the asset base.
- Equity investments
- Equity investments declined from 2.06% in 2019 to 0.86% in 2021 and then increased steadily to 1.48% in 2024, indicating some reinvestment or appreciation in equity holdings.
- Property, plant and equipment, net
- There was a notable decline from 33.46% in 2019 to 20.29% in 2021, but it increased again to 27.65% by 2024. This pattern may reflect asset disposals or impairments followed by capital expenditures or asset additions.
- Operating lease, right-of-use asset
- Data starts in 2020 at 27.69% and remains relatively stable around 28-30% through 2024, indicating this category became a significant and consistent portion of total assets after adoption of lease accounting standards.
- Deferred income taxes, net
- Deferred income taxes decreased from 9.19% in 2019 to 5.64% in 2024, possibly reflecting changes in tax positions or timing differences between book and tax incomes.
- Other long-term assets
- Other long-term assets showed a modest reduction from 2.5% in 2019 to around 1.97% in 2024, remaining a minor but stable element of total assets.
- Other intangible assets
- A steady decline from 4.07% in 2019 to 0.32% in 2024 was observed, suggesting amortization or impairment of intangible assets over time.
- Goodwill
- Goodwill also declined from 18.16% in 2019 to 10.58% in 2024, indicating potential write-downs, divestitures, or changes in acquisition activity impacting this intangible asset.
- Long-term assets
- The share of long-term assets increased from 70.58% in 2019 to 78.15% in 2024, demonstrating a strategic tilt towards greater investment in longer-term assets relative to current assets.
- Total assets
- Total assets consistently sum to 100% as expected since categories are presented as percentages of total assets.