Starbucks Corp. (NASDAQ:SBUX)

The analysis of the financial performance over the observed periods reveals several notable trends in profitability, asset growth, and return on assets (ROA).

Net Earnings Attributable to Starbucks (in thousands of US$)

The net earnings demonstrate a general upward trend from 2005 through 2018, increasing from 494,467 thousand to a peak of approximately 4,518,300 thousand in 2018. There are fluctuations within this trend, including a significant dip in 2013, where net earnings dropped sharply to 8,300 thousand, an outlier compared to surrounding years. Earnings recovered strongly afterward, reaching the highest values in 2018 and 2019. However, earnings declined substantially in 2020 to 928,300 thousand, likely influenced by external adverse events, before rebounding in subsequent years though not consistently exceeding prior peaks. The most recent figures indicate some volatility but remain robust relative to earlier years.

Total Assets (in thousands of US$)

Total assets have shown steady growth from 3,514,065 thousand in 2005 to over 31,339,300 thousand in 2024. The growth is generally consistent, with only minor inconsistencies. Notably, asset growth accelerated markedly post-2013. The increase in asset base suggests ongoing investment and expansion efforts over the years. There were periods of slower growth or slight decreases, such as from 2018 to 2019, but overall the asset base nearly multiplied over the observed period.

Return on Assets (ROA, %)

ROA has varied significantly during the periods analyzed. Initial years showed relatively strong ROA figures around 14%, with a decline in 2008 and 2009 to lows around 5.56% and 7.01%, respectively. ROA then improved considerably, reaching peaks above 20% between 2010 and 2015. A notable dip occurred in 2013 (0.07%), paralleling the sharp drop in net earnings. More recently, the ROA has moderated, with values fluctuating in the range of 11.73% to 14% from 2018 onward. The 2020 ROA notably dropped to 3.16%, coinciding with the decrease in net earnings during the same year, reflecting lower asset efficiency or profitability challenges. Subsequent recovery in ROA indicates resumed operational effectiveness.

In summary, the company experienced overall growth in both net earnings and total assets, with some years of pronounced volatility, particularly around 2013 and 2020. The ROA trends complement these findings, with periods of strong asset utilization and profitability interspersed with temporary declines likely linked to external economic or operational challenges. The subsequent recoveries imply resilience and capacity to rebound after adverse conditions. Asset expansion supports growth initiatives, while variations in profitability metrics suggest fluctuations in operational performance and market conditions over the years.