Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Starbucks Corp., consolidated balance sheet: assets

US$ in thousands

	Sep 28, 2025	Sep 29, 2024	Oct 1, 2023	Oct 2, 2022	Oct 3, 2021	Sep 27, 2020
Cash and cash equivalents	3,219,800)	3,286,200)	3,551,500)	2,818,400)	6,455,700)	4,350,900)
Short-term investments	247,200)	257,000)	401,500)	364,500)	162,200)	281,200)
Accounts receivable, net	1,277,500)	1,213,800)	1,184,100)	1,175,500)	940,000)	883,400)
Inventories	2,185,600)	1,777,300)	1,806,400)	2,176,600)	1,603,900)	1,551,400)
Prepaid expenses and other current assets	452,200)	313,100)	359,900)	483,700)	594,600)	739,500)
Current assets	7,382,300)	6,847,400)	7,303,400)	7,018,700)	9,756,400)	7,806,400)
Long-term investments	246,900)	276,000)	247,400)	279,100)	281,700)	206,100)
Equity method investments	418,900)	424,100)	415,700)	283,100)	216,000)	426,400)
Other investments	47,300)	39,800)	24,200)	28,100)	52,500)	52,300)
Equity investments	466,200)	463,900)	439,900)	311,200)	268,500)	478,700)
Property, plant and equipment, net	8,493,500)	8,665,500)	7,387,100)	6,560,500)	6,369,500)	6,241,400)
Operating lease, right-of-use asset	9,315,700)	9,286,200)	8,412,600)	8,015,600)	8,236,000)	8,134,100)
Deferred income taxes, net	1,826,900)	1,766,700)	1,769,800)	1,799,700)	1,874,800)	1,789,900)
Other long-term assets	752,500)	617,000)	546,500)	554,200)	578,500)	568,600)
Other intangible assets	166,800)	100,900)	120,500)	155,900)	349,900)	552,100)
Goodwill	3,368,900)	3,315,700)	3,218,300)	3,283,500)	3,677,300)	3,597,200)
Long-term assets	24,637,400)	24,491,900)	22,142,100)	20,959,700)	21,636,200)	21,568,100)
Total assets	32,019,700)	31,339,300)	29,445,500)	27,978,400)	31,392,600)	29,374,500)

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).

The financial data demonstrates varied trends across different asset categories over the observed periods.

Cash and Short-Term Investments: Cash and cash equivalents fluctuate widely, peaking at approximately US$6.46 billion in 2021 before declining notably in subsequent years to around US$3.22 billion in 2025. Short-term investments show a more irregular pattern, increasing until 2023, then declining in the following years, ending at about US$247 million in 2025. This volatility may suggest changing liquidity management strategies or responses to operational needs.
Receivables and Inventories: Accounts receivable exhibit a consistent upward trend, rising from about US$883 million in 2020 to nearly US$1.28 billion in 2025, indicating increasing credit sales or extended collection periods. Inventories increase significantly from 2020 to 2022, dip in 2023-2024, and then rise sharply again by 2025. These shifts could reflect inventory management adjustments in response to supply chain conditions or demand variations.
Prepaid Expenses and Other Current Assets: Prepaid expenses and other current assets steadily decline from 2020 to 2024, reaching a low of approximately US$313 million, before rising somewhat in 2025. This may relate to timing differences in expense recognition or changes in vendor payment terms.
Current Assets: Total current assets peak in 2021 near US$9.76 billion, then decrease significantly in 2022 and 2024, with a moderate recovery by 2025. This general contraction aligns with the declines observed in cash and prepaid expenses, suggesting tighter working capital conditions in mid-periods.
Long-Term Investments and Equity Investments: Long-term investments and equity investments show relatively minor fluctuations overall, maintaining values around US$200-400 million. Equity method investments decrease sharply from 2020 to 2021, then generally increase through 2024 before stabilizing, indicating possible changes in associated companies’ performance or investment posture.
Property, Plant, and Equipment (PP&E): Net PP&E demonstrate significant growth from US$6.24 billion in 2020 to a peak of approximately US$8.67 billion in 2024, before a slight decline in 2025. This upward trajectory reflects substantial capital expenditures or asset acquisitions.
Operating Lease Right-of-Use Assets: These assets increase steadily over the period, growing from about US$8.13 billion in 2020 to US$9.32 billion in 2025. This consistent rise suggests expanding lease commitments or renegotiated lease terms with higher asset recognition.
Deferred Income Taxes and Other Long-Term Assets: Deferred income taxes remain relatively stable, fluctuating mildly around US$1.77 to US$1.83 billion. Other long-term assets show a gradual increase, particularly in the final periods, climbing from US$569 million in 2020 to US$753 million in 2025, which might be indicative of broadened asset base or reclassifications.
Other Intangible Assets and Goodwill: Other intangible assets decline substantially from US$552 million in 2020 to about US$101 million in 2024 before rising again moderately. Goodwill declines from 2020 through 2023 but sees a moderate recovery afterward. These movements may be the result of impairment charges or new acquisitions impacting intangible asset balances.
Long-Term Assets and Total Assets: Total long-term assets remain relatively stable around the US$21 billion to US$24.5 billion range, with a noticeable increase in 2024 and 2025. Total assets follow a similar pattern, initially increasing to a peak in 2021, dipping in 2022, and ascending thereafter to about US$32 billion by 2025. This reflects overall asset growth predominantly driven by increased property, plant, and equipment and operating lease assets in the latter years.

In summary, the data reveals an organization that experienced liquidity fluctuations, steady growth in fixed assets, evolving lease obligations, and adjustments within intangible assets. The increases in property, plant, equipment, and lease assets suggest investment in operational capacity, while variations in current assets and cash holdings indicate shifts in working capital management. The trends in intangible and goodwill balances hint at acquisition activity and asset impairments affecting the asset structure.

Assets: Selected Items

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Current Assets: Selected Items

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Starbucks Corp. (NASDAQ:SBUX)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items