Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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Starbucks Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2026-03-29), 10-Q (reporting date: 2025-12-28), 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).
The capital structure is characterized by a persistent shareholders' deficit, with total liabilities consistently exceeding 100% of the total liabilities and deficit. This indicates a negative equity position where the company's total obligations outweigh its assets, a condition maintained throughout the period from late 2019 through early 2026.
- Long-Term Debt and Obligations
- Long-term debt, excluding the current portion, remains a primary component of the liability structure, generally fluctuating between 42% and 53%. A notable peak occurred in early 2024, reaching 52.95% before stabilizing in the 42% to 45% range by early 2026. Operating lease liabilities have remained remarkably stable, consistently representing between 24% and 28% of the total structure, suggesting a consistent strategy regarding leased physical assets.
- Current Liability Trends
- Current liabilities exhibit an upward trend in the latter part of the analyzed period, rising from approximately 25% in 2020 to 37.47% by March 2026. This increase is partly driven by growth in accounts payable, which rose from 3.91% in 2019 to 5.48% in 2026. The current portion of long-term debt shows significant volatility, with spikes as high as 8.17% in early 2024, indicating periodic shifts in debt maturity profiles.
- Deferred Revenue and Stored Value
- Deferred revenue has experienced a gradual long-term decline, decreasing from 24.34% in December 2019 to 18.58% by March 2026. Stored value card liabilities exhibit cyclical behavior, frequently peaking in December and January—such as the 7.54% recorded in December 2023—before receding, which is consistent with seasonal consumer gifting patterns.
- Equity and Retained Deficit
- The shareholders' deficit has remained deep and persistent, ranging from a minimum of -16.95% in late 2021 to a maximum of -31.12% in early 2022. This is primarily driven by a substantial retained deficit, which has consistently stayed between -20% and -31%. The minimal presence of common stock and additional paid-in capital indicates that the negative equity position is not being offset by new equity issuances.
Overall, the financial position is defined by high leverage and a structural deficit. While long-term debt and lease obligations provide a stable foundation for the liability profile, the increasing proportion of current liabilities suggests a shifting balance toward shorter-term obligations.