Common-Size Income Statement
Quarterly Data
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- Income Statement
- Statement of Comprehensive Income
- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
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Starbucks Corp., common-size consolidated income statement (quarterly data)
Based on: 10-K (reporting date: 2025-09-28), 10-Q (reporting date: 2025-06-29), 10-Q (reporting date: 2025-03-30), 10-Q (reporting date: 2024-12-29), 10-K (reporting date: 2024-09-29), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-K (reporting date: 2023-10-01), 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-Q (reporting date: 2023-01-01), 10-K (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-Q (reporting date: 2022-01-02), 10-K (reporting date: 2021-10-03), 10-Q (reporting date: 2021-06-27), 10-Q (reporting date: 2021-03-28), 10-Q (reporting date: 2020-12-27), 10-K (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-Q (reporting date: 2019-12-29).
- Revenue Composition
- The proportion of net revenues derived from company-operated stores remained relatively stable over the periods, fluctuating mostly between approximately 81% and 84.8%. Licensed stores contributed between about 7% and nearly 13%, showing a gradual recovery after a dip to 7.12% around mid-2020. The remaining category labeled as "Other" showed variability, peaking near 11.3% in mid-2020 before generally stabilizing around 5% to 6.5%.
- Cost Trends
- Product and distribution costs exhibited a downward trend as a percentage of net revenues, improving from around -35.15% at mid-2020 to near -29.43% to -30.9% in more recent quarters, indicating better cost control or favorable changes in supply costs. Store operating expenses showed considerable volatility, rising sharply to -60.11% in mid-2020 likely due to pandemic-related impacts, before decreasing and stabilizing around -39.5% to -45.9%. Overall cost of revenues followed a similar pattern, peaking negatively at -95.26% during mid-2020 disruptions and subsequently improving to fluctuate mostly between -69% and -78.9%.
- Profitability
- Gross profit margins were significantly affected during mid-2020, falling drastically to 4.74% due to cost spikes and revenue disruptions. However, margins recovered steadily thereafter, stabilizing mostly in the range of 25% to 31% in subsequent quarters. Operating income as a percentage of net revenues displayed a marked swing, dipping to a loss of -16.67% in mid-2020 but rebounding strongly to peak near 27.59% in late 2021 before gradually easing. Similar fluctuations were observed in earnings before income taxes and net earnings, reflecting the challenging operating environment and subsequent recovery.
- Operating Expenses
- Other operating expenses maintained a narrow range between approximately -1.3% and -1.6% of net revenues, indicating relatively stable overhead costs beyond store operations and product expenses. Depreciation and amortization expenses declined moderately from peaks around -8.55% in mid-2020 to near -3.7% to -4.8% in later quarters. General and administrative expenses exhibited some variability, generally ranging between -5.9% and -7.6%.
- Special Items and Income Contributions
- Restructuring costs were notable during some quarters, particularly in 2020 and sporadically thereafter, with dips as low as -7.89%, indicating intermittent structural adjustments within the company. Income from equity investees remained positive but variable, usually contributing between 0.5% and 1.6% of net revenues. Gains from asset sales appeared in isolated quarters and had a limited but positive impact on income.
- Interest and Taxation
- Interest expense as a percentage of net revenues remained relatively consistent in a narrow band around -1.3% to -1.7%, reflecting steady financial costs. Interest income and other net items were small but generally positive contributors. Income tax expense fluctuated in line with pre-tax earnings, with tax rates presenting variability reflecting changes in taxable income and potentially differing tax treatment during exceptional periods.
- Overall Financial Performance
- The financial data reflects a pronounced impact of market disruptions around mid-2020, with sharp declines in profitability and substantial cost pressure. Subsequent periods demonstrate a strong recovery, with profitability measures approaching or exceeding pre-disruption levels. Margins and net earnings as percentages of net revenues show a resumed growth trajectory with some volatility likely linked to operational adjustments and macroeconomic conditions. The company’s ability to restore earnings and manage costs effectively after the disruption is evident, though some indicators such as store operating expenses and restructuring costs suggest ongoing transitional challenges.