Price to Book Value (P/BV)
since 2005
Calculation
Starbucks Corp., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Shareholders’ equity (deficit)1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Nov 14, 2025 | — | = | 84.78 | ÷ | -7.12 | -7.12 | = | -8,096,600 | ÷ | 1,137,100,000 | |
| Nov 20, 2024 | — | = | 98.26 | ÷ | -6.57 | -6.57 | = | -7,448,900 | ÷ | 1,133,800,000 | |
| Nov 17, 2023 | — | = | 105.57 | ÷ | -7.03 | -7.03 | = | -7,994,800 | ÷ | 1,136,700,000 | |
| Nov 18, 2022 | — | = | 97.95 | ÷ | -7.59 | -7.59 | = | -8,706,600 | ÷ | 1,147,800,000 | |
| Nov 19, 2021 | — | = | 110.78 | ÷ | -4.54 | -4.54 | = | -5,321,200 | ÷ | 1,173,200,000 | |
| Nov 12, 2020 | — | = | 93.53 | ÷ | -6.65 | -6.65 | = | -7,805,100 | ÷ | 1,173,700,000 | |
| Nov 15, 2019 | — | = | 84.21 | ÷ | -5.28 | -5.28 | = | -6,232,200 | ÷ | 1,181,000,000 | |
| Nov 16, 2018 | 72.30 | = | 68.16 | ÷ | 0.94 | 0.94 | = | 1,169,500 | ÷ | 1,240,600,000 | |
| Nov 17, 2017 | 14.86 | = | 56.93 | ÷ | 3.83 | 3.83 | = | 5,450,100 | ÷ | 1,422,800,000 | |
| Nov 18, 2016 | 13.79 | = | 55.77 | ÷ | 4.04 | 4.04 | = | 5,884,000 | ÷ | 1,455,400,000 | |
| Nov 12, 2015 | 15.59 | = | 61.07 | ÷ | 3.92 | 3.92 | = | 5,818,000 | ÷ | 1,484,800,000 | |
| Nov 14, 2014 | 11.09 | = | 39.06 | ÷ | 3.52 | 3.52 | = | 5,272,000 | ÷ | 1,496,600,000 | |
| Nov 18, 2013 | 13.55 | = | 40.27 | ÷ | 2.97 | 2.97 | = | 4,480,200 | ÷ | 1,507,200,000 | |
| Nov 16, 2012 | 7.10 | = | 24.38 | ÷ | 3.44 | 3.44 | = | 5,109,000 | ÷ | 1,487,200,000 | |
| Nov 18, 2011 | 7.14 | = | 21.01 | ÷ | 2.94 | 2.94 | = | 4,384,900 | ÷ | 1,490,800,000 | |
| Nov 22, 2010 | 6.23 | = | 15.44 | ÷ | 2.48 | 2.48 | = | 3,674,700 | ÷ | 1,482,200,000 | |
| Nov 20, 2009 | 5.21 | = | 10.71 | ÷ | 2.06 | 2.06 | = | 3,045,700 | ÷ | 1,480,400,000 | |
| Nov 24, 2008 | 2.49 | = | 4.23 | ÷ | 1.70 | 1.70 | = | 2,490,900 | ÷ | 1,466,600,000 | |
| Nov 29, 2007 | 7.37 | = | 11.52 | ÷ | 1.56 | 1.56 | = | 2,284,117 | ÷ | 1,460,800,000 | |
| Dec 14, 2006 | 12.40 | = | 18.30 | ÷ | 1.48 | 1.48 | = | 2,228,506 | ÷ | 1,509,715,456 | |
| Dec 16, 2005 | 11.40 | = | 15.60 | ÷ | 1.37 | 1.37 | = | 2,090,634 | ÷ | 1,528,207,080 |
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), 10-K (reporting date: 2019-09-29), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-10-01), 10-K (reporting date: 2016-10-02), 10-K (reporting date: 2015-09-27), 10-K (reporting date: 2014-09-28), 10-K (reporting date: 2013-09-29), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-10-02), 10-K (reporting date: 2010-10-03), 10-K (reporting date: 2009-09-27), 10-K (reporting date: 2008-09-28), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-10-01), 10-K (reporting date: 2005-10-02).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Starbucks Corp. Annual Report.
The analysis of the financial data reveals several notable trends in the share price, book value per share (BVPS), and price-to-book value (P/BV) ratio over the examined periods.
- Share Price
- The share price exhibits significant fluctuations across the years. Initially, it shows an increasing trend from 15.6 USD in 2005 to 18.3 USD in 2006, followed by a sharp decline to 4.23 USD in 2008, likely influenced by broader market conditions. Subsequently, the price recovers notably, reaching a peak of 110.78 USD in 2021. Post-2021, the share price demonstrates volatility, declining to 97.95 USD in 2022, slightly rising again in 2023, and then falling to 84.78 USD by 2025. Overall, the long-term tendency is an increase, with intermittent downturns.
- Book Value Per Share (BVPS)
- BVPS generally trends upward from 1.37 USD in 2005 to a high of 4.04 USD in 2016. However, after 2016, there is a marked reversal, with BVPS becoming negative starting in 2018 (-5.28 USD) and continuing to decline through 2025, reaching -7.12 USD. This negative BVPS indicates the company’s total liabilities exceeded its total assets on a per-share basis during the latter period, reflecting possible financial stress or accounting adjustments impacting equity.
- Price-to-Book Value (P/BV) Ratio
- The P/BV ratio experiences considerable variation, starting at 11.4 in 2005 and fluctuating in subsequent years with a low point at 2.49 in 2008, coinciding with the trough in share price and rising BVPS, indicating the market undervaluation relative to book value at that time. A strong increase in the P/BV ratio is observed around 2013-2016, peaking at 15.59 in 2015, reflecting a market premium on the company's stock relative to book value. From 2018 onward, the P/BV ratio data is largely unavailable, likely due to the negative BVPS values since P/BV is not meaningful with negative equity value.
In summary, the company’s share price demonstrates robust growth over the long term interspersed with periods of volatility. BVPS shows growth until a significant downward trend into negative territory after 2016, suggesting challenges in net asset value. The P/BV ratio indicates fluctuating market valuations relative to book value, with meaningful peaks during periods of strong share price and positive BVPS. The data signals financial stress in recent years though the market maintains considerable valuation as reflected in the elevated share price compared to book value.
Comparison to Competitors
Starbucks Corp., P/BV, long-term trends, comparison to competitors
| Starbucks Corp. | Airbnb Inc. | Booking Holdings Inc. | Chipotle Mexican Grill Inc. | DoorDash, Inc. | McDonald’s Corp. | |
|---|---|---|---|---|---|---|
| Nov 14, 2025 | — | — | — | — | — | — |
| Nov 20, 2024 | — | 10.57 | — | 21.32 | 11.49 | — |
| Nov 17, 2023 | — | 12.09 | — | 23.47 | 6.85 | — |
| Nov 18, 2022 | — | 15.16 | 32.84 | 18.74 | 3.15 | — |
| Nov 19, 2021 | — | 20.88 | 16.35 | 19.05 | 7.65 | — |
| Nov 12, 2020 | — | 43.27 | 20.46 | 21.52 | 10.36 | — |
| Nov 15, 2019 | — | — | 11.61 | 14.09 | — | — |
| Nov 16, 2018 | 72.30 | — | 9.77 | 11.19 | — | — |
| Nov 17, 2017 | 14.86 | — | 8.03 | 5.45 | — | — |
| Nov 18, 2016 | 13.79 | — | 8.17 | 8.18 | — | — |
| Nov 12, 2015 | 15.59 | — | 6.97 | 6.49 | — | 15.06 |
| Nov 14, 2014 | 11.09 | — | 7.38 | 10.42 | — | 7.10 |
| Nov 18, 2013 | 13.55 | — | 9.68 | 10.94 | — | 5.97 |
| Nov 16, 2012 | 7.10 | — | 8.91 | 7.98 | — | 6.30 |
| Nov 18, 2011 | 7.14 | — | 11.44 | 11.27 | — | 7.10 |
| Nov 22, 2010 | 6.23 | — | 12.47 | 10.16 | — | 5.31 |
| Nov 20, 2009 | 5.21 | — | 7.95 | 4.71 | — | 4.90 |
| Nov 24, 2008 | 2.49 | — | 4.70 | 2.76 | — | 4.52 |
| Nov 29, 2007 | 7.37 | — | 7.55 | 6.13 | — | 4.22 |
| Dec 14, 2006 | 12.40 | — | 5.73 | 4.44 | — | 3.57 |
| Dec 16, 2005 | 11.40 | — | 2.53 | 5.68 | — | 2.92 |
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), 10-K (reporting date: 2019-09-29), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-10-01), 10-K (reporting date: 2016-10-02), 10-K (reporting date: 2015-09-27), 10-K (reporting date: 2014-09-28), 10-K (reporting date: 2013-09-29), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-10-02), 10-K (reporting date: 2010-10-03), 10-K (reporting date: 2009-09-27), 10-K (reporting date: 2008-09-28), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-10-01), 10-K (reporting date: 2005-10-02).
Comparison to Sector (Consumer Services)
Starbucks Corp., P/BV, long-term trends, comparison to sector (consumer services)
| Starbucks Corp. | Consumer Services | |
|---|---|---|
| Nov 14, 2025 | — | — |
| Nov 20, 2024 | — | 163.88 |
| Nov 17, 2023 | — | 264.40 |
| Nov 18, 2022 | — | 198.47 |
| Nov 19, 2021 | — | 74.08 |
| Nov 12, 2020 | — | — |
| Nov 15, 2019 | — | — |
| Nov 16, 2018 | 72.30 | 63.58 |
| Nov 17, 2017 | 14.86 | 20.82 |
| Nov 18, 2016 | 13.79 | 18.69 |
| Nov 12, 2015 | 15.59 | 11.44 |
| Nov 14, 2014 | 11.09 | 8.15 |
| Nov 18, 2013 | 13.55 | 8.29 |
| Nov 16, 2012 | 7.10 | 6.94 |
| Nov 18, 2011 | 7.14 | 7.80 |
| Nov 22, 2010 | 6.23 | 6.28 |
| Nov 20, 2009 | 5.21 | 5.15 |
| Nov 24, 2008 | 2.49 | 4.17 |
| Nov 29, 2007 | 7.37 | 4.77 |
| Dec 14, 2006 | 12.40 | 4.69 |
| Dec 16, 2005 | 11.40 | 3.95 |
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), 10-K (reporting date: 2019-09-29), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-10-01), 10-K (reporting date: 2016-10-02), 10-K (reporting date: 2015-09-27), 10-K (reporting date: 2014-09-28), 10-K (reporting date: 2013-09-29), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-10-02), 10-K (reporting date: 2010-10-03), 10-K (reporting date: 2009-09-27), 10-K (reporting date: 2008-09-28), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-10-01), 10-K (reporting date: 2005-10-02).
Comparison to Industry (Consumer Discretionary)
Starbucks Corp., P/BV, long-term trends, comparison to industry (consumer discretionary)
| Starbucks Corp. | Consumer Discretionary | |
|---|---|---|
| Nov 14, 2025 | — | — |
| Nov 20, 2024 | — | 31.67 |
| Nov 17, 2023 | — | 10.06 |
| Nov 18, 2022 | — | 9.41 |
| Nov 19, 2021 | — | 13.21 |
| Nov 12, 2020 | — | 17.99 |
| Nov 15, 2019 | — | 13.59 |
| Nov 16, 2018 | 72.30 | 11.35 |
| Nov 17, 2017 | 14.86 | 10.74 |
| Nov 18, 2016 | 13.79 | 8.39 |
| Nov 12, 2015 | 15.59 | 7.17 |
| Nov 14, 2014 | 11.09 | 5.83 |
| Nov 18, 2013 | 13.55 | 5.12 |
| Nov 16, 2012 | 7.10 | 4.39 |
| Nov 18, 2011 | 7.14 | 3.84 |
| Nov 22, 2010 | 6.23 | 4.04 |
| Nov 20, 2009 | 5.21 | 4.73 |
| Nov 24, 2008 | 2.49 | 4.98 |
| Nov 29, 2007 | 7.37 | 3.91 |
| Dec 14, 2006 | 12.40 | 4.50 |
| Dec 16, 2005 | 11.40 | 3.49 |
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), 10-K (reporting date: 2019-09-29), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-10-01), 10-K (reporting date: 2016-10-02), 10-K (reporting date: 2015-09-27), 10-K (reporting date: 2014-09-28), 10-K (reporting date: 2013-09-29), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-10-02), 10-K (reporting date: 2010-10-03), 10-K (reporting date: 2009-09-27), 10-K (reporting date: 2008-09-28), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-10-01), 10-K (reporting date: 2005-10-02).