Return on Assets (ROA)
since 2005
Calculation
Starbucks Corp., ROA, long-term trends, calculation
| ROA | = | 100 | × | Net earnings attributable to Starbucks1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Sep 27, 2026 | 8.90% | = | 100 | × | 2,526,700) | ÷ | 28,389,900) |
| Sep 28, 2025 | 5.80% | = | 100 | × | 1,856,400) | ÷ | 32,019,700) |
| Sep 29, 2024 | 12.00% | = | 100 | × | 3,760,900) | ÷ | 31,339,300) |
| Oct 1, 2023 | 14.01% | = | 100 | × | 4,124,500) | ÷ | 29,445,500) |
| Oct 2, 2022 | 11.73% | = | 100 | × | 3,281,600) | ÷ | 27,978,400) |
| Oct 3, 2021 | 13.38% | = | 100 | × | 4,199,300) | ÷ | 31,392,600) |
| Sep 27, 2020 | 3.16% | = | 100 | × | 928,300) | ÷ | 29,374,500) |
| Sep 29, 2019 | 18.73% | = | 100 | × | 3,599,200) | ÷ | 19,219,600) |
| Sep 30, 2018 | 18.70% | = | 100 | × | 4,518,300) | ÷ | 24,156,400) |
| Oct 1, 2017 | 20.08% | = | 100 | × | 2,884,700) | ÷ | 14,365,600) |
| Oct 2, 2016 | 19.66% | = | 100 | × | 2,817,700) | ÷ | 14,329,500) |
| Sep 27, 2015 | 22.15% | = | 100 | × | 2,757,400) | ÷ | 12,446,100) |
| Sep 28, 2014 | 19.23% | = | 100 | × | 2,068,100) | ÷ | 10,752,900) |
| Sep 29, 2013 | 0.07% | = | 100 | × | 8,300) | ÷ | 11,516,700) |
| Sep 30, 2012 | 16.84% | = | 100 | × | 1,383,800) | ÷ | 8,219,200) |
| Oct 2, 2011 | 16.92% | = | 100 | × | 1,245,700) | ÷ | 7,360,400) |
| Oct 3, 2010 | 14.81% | = | 100 | × | 945,600) | ÷ | 6,385,900) |
| Sep 27, 2009 | 7.01% | = | 100 | × | 390,800) | ÷ | 5,576,800) |
| Sep 28, 2008 | 5.56% | = | 100 | × | 315,500) | ÷ | 5,672,600) |
| Sep 30, 2007 | 12.59% | = | 100 | × | 672,638) | ÷ | 5,343,878) |
| Oct 1, 2006 | 12.74% | = | 100 | × | 564,259) | ÷ | 4,428,941) |
| Oct 2, 2005 | 14.07% | = | 100 | × | 494,467) | ÷ | 3,514,065) |
Based on: 10-K (reporting date: 2026-09-27), 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$ in thousands
The long-term trend in asset utilization reveals a pattern of significant volatility, characterized by periods of aggressive efficiency growth interrupted by sharp, short-term declines. While total assets have expanded from approximately 3.5 billion USD in 2005 to over 28 billion USD by 2026, the ability to generate earnings from those assets has fluctuated substantially.
- Early Performance and Initial Volatility (2005–2009)
- Asset efficiency remained relatively stable between 12.59% and 14.07% from 2005 to 2007. A marked decline occurred in 2008, with the Return on Assets (ROA) dropping to 5.56%, before a partial recovery to 7.01% in 2009.
- Growth Peak and Operational Anomalies (2010–2017)
- A period of strong operational efficiency was observed starting in 2010, with ROA climbing to a peak of 22.15% in 2015. A significant outlier is noted in 2013, where ROA collapsed to 0.07% due to a precipitous drop in net earnings to 8.3 million USD, despite a substantial asset base of over 11.5 billion USD.
- Stability and Pandemic Disruption (2018–2020)
- Efficiency stabilized near 18.7% in 2018 and 2019. This was followed by a severe contraction in 2020, where ROA fell to 3.16%, corresponding with a sharp decrease in net earnings to 928.3 million USD amidst a concurrent increase in total assets to 29.37 billion USD.
- Recent Trends and Projected Performance (2021–2026)
- A recovery phase was observed between 2021 and 2023, with ROA returning to the 11% to 14% range. However, a subsequent decline is evident in 2025, where ROA dropped to 5.80%, followed by a slight upward correction to 8.90% by 2026. This suggests a recent struggle to maintain historical levels of asset productivity as the total asset base remains elevated.
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Comparison to Competitors
Starbucks Corp., ROA, long-term trends, comparison to competitors
| Starbucks Corp. | Airbnb Inc. | Booking Holdings Inc. | Chipotle Mexican Grill Inc. | DoorDash, Inc. | McDonald’s Corp. | |
|---|---|---|---|---|---|---|
| Sep 27, 2026 | 8.90% | — | — | — | — | — |
| Sep 28, 2025 | 5.80% | 11.31% | 18.47% | 17.07% | 4.76% | 14.39% |
| Sep 29, 2024 | 12.00% | 12.63% | 21.23% | 16.67% | 0.96% | 14.90% |
| Oct 1, 2023 | 14.01% | 23.21% | 17.62% | 15.27% | -5.15% | 15.08% |
| Oct 2, 2022 | 11.73% | 11.80% | 12.06% | 12.98% | -13.94% | 12.25% |
| Oct 3, 2021 | 13.38% | -2.57% | 4.93% | 9.81% | -6.87% | 14.01% |
| Sep 27, 2020 | 3.16% | -43.70% | 0.27% | 5.95% | -7.26% | 8.99% |
| Sep 29, 2019 | 18.73% | — | 22.73% | 6.86% | — | 12.68% |
| Sep 30, 2018 | 18.70% | — | 17.62% | 7.79% | — | 18.06% |
| Oct 1, 2017 | 20.08% | — | 9.20% | 8.62% | — | 15.36% |
| Oct 2, 2016 | 19.66% | — | 10.76% | 1.13% | — | 15.11% |
| Sep 27, 2015 | 22.15% | — | 14.65% | 17.45% | — | 11.94% |
| Sep 28, 2014 | 19.23% | — | 16.21% | 17.49% | — | 13.88% |
| Sep 29, 2013 | 0.07% | — | 18.12% | 16.30% | — | 15.25% |
| Sep 30, 2012 | 16.84% | — | 21.61% | 16.66% | — | 15.44% |
| Oct 2, 2011 | 16.92% | — | 26.60% | 15.08% | — | 16.68% |
| Oct 3, 2010 | 14.81% | — | 18.15% | 15.96% | — | 15.47% |
| Sep 27, 2009 | 7.01% | — | 26.69% | 13.19% | — | 15.06% |
| Sep 28, 2008 | 5.56% | — | 14.40% | 9.48% | — | 15.15% |
| Sep 30, 2007 | 12.59% | — | 11.63% | 9.77% | — | 8.15% |
| Oct 1, 2006 | 12.74% | — | 6.74% | 6.86% | — | 12.21% |
| Oct 2, 2005 | 14.07% | — | 25.56% | 9.60% | — | 8.68% |
Based on: 10-K (reporting date: 2026-09-27), 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., ROA, long-term trends, comparison to sector (consumer services)
| Starbucks Corp. | Consumer Services | |
|---|---|---|
| Sep 27, 2026 | 8.90% | — |
| Sep 28, 2025 | 5.80% | 12.12% |
| Sep 29, 2024 | 12.00% | 14.10% |
| Oct 1, 2023 | 14.01% | 14.95% |
| Oct 2, 2022 | 11.73% | 10.21% |
| Oct 3, 2021 | 13.38% | 9.37% |
| Sep 27, 2020 | 3.16% | 0.81% |
| Sep 29, 2019 | 18.73% | 15.92% |
| Sep 30, 2018 | 18.70% | 17.84% |
| Oct 1, 2017 | 20.08% | 14.00% |
| Oct 2, 2016 | 19.66% | 14.37% |
| Sep 27, 2015 | 22.15% | 14.62% |
| Sep 28, 2014 | 19.23% | 15.50% |
| Sep 29, 2013 | 0.07% | 12.90% |
| Sep 30, 2012 | 16.84% | 16.48% |
| Oct 2, 2011 | 16.92% | 17.53% |
| Oct 3, 2010 | 14.81% | 15.57% |
| Sep 27, 2009 | 7.01% | 14.40% |
| Sep 28, 2008 | 5.56% | 13.50% |
| Sep 30, 2007 | 12.59% | 8.95% |
| Oct 1, 2006 | 12.74% | 12.01% |
| Oct 2, 2005 | 14.07% | 9.60% |
Based on: 10-K (reporting date: 2026-09-27), 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., ROA, long-term trends, comparison to industry (consumer discretionary)
| Starbucks Corp. | Consumer Discretionary | |
|---|---|---|
| Sep 27, 2026 | 8.90% | — |
| Sep 28, 2025 | 5.80% | 6.71% |
| Sep 29, 2024 | 12.00% | 8.12% |
| Oct 1, 2023 | 14.01% | 7.57% |
| Oct 2, 2022 | 11.73% | 4.81% |
| Oct 3, 2021 | 13.38% | 7.99% |
| Sep 27, 2020 | 3.16% | 4.36% |
| Sep 29, 2019 | 18.73% | 5.57% |
| Sep 30, 2018 | 18.70% | 5.96% |
| Oct 1, 2017 | 20.08% | 4.05% |
| Oct 2, 2016 | 19.66% | 5.57% |
| Sep 27, 2015 | 22.15% | 6.25% |
| Sep 28, 2014 | 19.23% | 4.75% |
| Sep 29, 2013 | 0.07% | 5.52% |
| Sep 30, 2012 | 16.84% | 5.65% |
| Oct 2, 2011 | 16.92% | 9.48% |
| Oct 3, 2010 | 14.81% | 6.05% |
| Sep 27, 2009 | 7.01% | 4.67% |
| Sep 28, 2008 | 5.56% | 0.21% |
| Sep 30, 2007 | 12.59% | 2.85% |
| Oct 1, 2006 | 12.74% | 0.60% |
| Oct 2, 2005 | 14.07% | 3.80% |
Based on: 10-K (reporting date: 2026-09-27), 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).