Income Statement
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Price to Earnings (P/E) since 2005
- Price to Sales (P/S) since 2005
- Analysis of Revenues
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Starbucks Corp., consolidated income statement
US$ in thousands
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).
- Company-operated stores and Licensed stores
- Company-operated store revenues displayed an overall upward trend, declining in 2020 likely due to external disruptions, followed by significant recovery and growth through 2024. Licensed stores also showed a decline in 2020 but experienced a more robust rebound thereafter, peaking in 2023 before slightly declining in 2024.
- Other revenues
- Other revenue streams remained relatively stable but showed a gradual decreasing pattern from 2019 to 2024, indicating a slight contraction or shifting focus away from these sources.
- Net revenues
- Net revenues exhibited a marked dip in 2020, consistent with a challenging operational environment, but subsequently recovered strongly and reached the highest recorded level in 2024, demonstrating resilience and growth potential.
- Cost components
- Product and distribution costs increased steadily over the years, reflecting expanded operations. Similarly, wages and benefits rose consistently, signifying increased employment costs or workforce expansion. Occupancy and other expenses followed an upward trajectory, aligning with store growth and operational scale. Store operating expenses and overall cost of revenues increased correspondingly, indicating rising operational expenditures parallel to revenue growth.
- Gross profit
- Gross profit declined notably in 2020 but recovered sharply by 2021, maintaining an upward trend into 2023 before a slight dip in 2024. This suggests efficient management of cost of revenues in relation to sales after the initial downturn.
- Operating expenses
- Other operating expenses, depreciation and amortization, and general and administrative expenses all showed steady increases over the period, reflecting ongoing investments in assets and administrative capacity. Restructuring and impairment charges fluctuated at low levels, with no consistent trend.
- Income from equity investees and gains
- Income from equity investees remained relatively stable with minor fluctuations. The gain from sale of assets was recorded only in 2022, indicating a one-time asset disposal event. Net gains from divestitures were significant in 2019 and 2021 but absent in other years.
- Operating income and Earnings before income taxes
- Operating income experienced a sharp decline in 2020, consistent with revenue trends and increased expenses, but rebounded strongly in 2021 and maintained solid levels through 2024. Earnings before income taxes followed a similar pattern, though with a slight decrease in 2024, indicating some margin pressures or higher costs.
- Interest and tax expenses
- Interest expense showed a rising trajectory, suggesting increased borrowing or cost of debt. Interest income and other net items were relatively stable. Income tax expense exhibited variability but generally increased in line with pre-tax earnings.
- Net earnings
- Net earnings attributable to the company saw a sharp decline in 2020, consistent with the operational challenges that year. The figure recovered strongly in 2021, experienced a decline in 2022, then rose again in 2023, followed by a moderate drop in 2024. Net earnings attributable to noncontrolling interests were negligible and fluctuated around zero.