Starbucks Corp. (NASDAQ:SBUX)

The financial data demonstrates notable trends in operating income, net revenues, and operating profit margin over the observed periods.

Operating Income (Loss)

Operating income generally shows a positive upward trend with occasional fluctuations. Initially, there is consistent growth from 2005 through 2007. However, a significant decline is observed in 2008 with operating income dropping sharply, and in 2013 it turns negative, indicating a loss. Following the downturn, substantial recovery occurs with operating income rising strongly until 2015. There is a peak in 2014 and 2015, followed by mostly stable or moderate increases until another decline is seen in 2020, likely reflecting external economic challenges. After 2020, there is a rebound and growth in operating income through 2023, before another reduction in the final years observed.

Net Revenues

Net revenues display a steady and consistent upward trajectory throughout the entire period. Starting from a lower base, revenues increase year-over-year, reflecting ongoing business expansion and increased sales efforts. Even in years with operating income challenges, such as 2013, net revenues continue to rise, suggesting robustness in sales performance. The growth remains strong into the recent years, with revenues nearly sixfold higher in the final observations compared to the earliest data point.

Operating Profit Margin

The operating profit margin percentage fluctuates more significantly than net revenues, reflecting changes in operational efficiency and expense management. Early periods show margins around 11-12%, which dip considerably in 2008 and 2013 where margins fall to very low or negative values. After recovering from the 2013 low, margins peak around 19.5% in the mid-2010s, indicating strong operational profitability. However, from 2015 onwards, the margin declines somewhat, with notable drops in 2020 and 2025. Despite these decreases, margins generally remain positive and above single-digit percentages except for some challenging periods.

Overall, the data illustrates a company experiencing substantial revenue growth over two decades, punctuated by periods of operational difficulty impacting profitability. The resilience shown in revenue growth despite margin variability suggests strong market demand, while fluctuations in operating income and margins highlight sensitivity to economic cycles and internal cost structures. The trends underscore the importance of managing operating expenses to sustain profitability during periods of external disruption.