Selected Financial Data
since 2005
Income Statement
Starbucks Corp., selected items from income statement, long-term trends
US$ in thousands
| 12 months ended: | Net revenues | Operating income (loss) | Net earnings attributable to Starbucks |
|---|---|---|---|
| Sep 29, 2024 | 36,176,200) | 5,408,800) | 3,760,900) |
| Oct 1, 2023 | 35,975,600) | 5,870,800) | 4,124,500) |
| Oct 2, 2022 | 32,250,300) | 4,617,800) | 3,281,600) |
| Oct 3, 2021 | 29,060,600) | 4,872,100) | 4,199,300) |
| Sep 27, 2020 | 23,518,000) | 1,561,700) | 928,300) |
| Sep 29, 2019 | 26,508,600) | 4,077,900) | 3,599,200) |
| Sep 30, 2018 | 24,719,500) | 3,883,300) | 4,518,300) |
| Oct 1, 2017 | 22,386,800) | 4,134,700) | 2,884,700) |
| Oct 2, 2016 | 21,315,900) | 4,171,900) | 2,817,700) |
| Sep 27, 2015 | 19,162,700) | 3,601,000) | 2,757,400) |
| Sep 28, 2014 | 16,447,800) | 3,081,100) | 2,068,100) |
| Sep 29, 2013 | 14,892,200) | (325,400) | 8,300) |
| Sep 30, 2012 | 13,299,500) | 1,997,400) | 1,383,800) |
| Oct 2, 2011 | 11,700,400) | 1,728,500) | 1,245,700) |
| Oct 3, 2010 | 10,707,400) | 1,419,400) | 945,600) |
| Sep 27, 2009 | 9,774,600) | 562,000) | 390,800) |
| Sep 28, 2008 | 10,383,000) | 503,900) | 315,500) |
| Sep 30, 2007 | 9,411,497) | 1,053,945) | 672,638) |
| Oct 1, 2006 | 7,786,942) | 893,952) | 564,259) |
| Oct 2, 2005 | 6,369,300) | 780,615) | 494,467) |
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), 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).
The financial data reveals several significant trends in the company's performance over the examined period, focusing on net revenues, operating income, and net earnings attributable to the company.
- Net Revenues
- Net revenues exhibit a generally upward trajectory from 2005 through 2019, increasing from approximately $6.37 billion to over $26.5 billion. There is a notable dip in 2020, where revenues decrease to about $23.5 billion, likely reflecting external market or economic challenges during that period. Following this decline, revenues resume growth, reaching over $36 billion by 2023 and maintaining a similar level into 2024.
- Operating Income (Loss)
- Operating income shows overall growth with fluctuations throughout the years. Initial years demonstrate steady increases, peaking around 2007 and then experiencing a considerable drop in 2008 but rebounding past previous highs by 2010. An exception occurs in 2012-2013, with operating income turning negative (-$325 million), indicating a challenging operational year. Subsequently, operating income recovers robustly, achieving record highs by 2014-2016 and stabilizing above $4 billion for several years. In 2020, operating income sharply declines to approximately $1.56 billion, correlating with the reduced revenues in the same year. A strong recovery follows in the next years, with operating income reaching a peak near $5.87 billion in 2023 before slightly decreasing in 2024.
- Net Earnings Attributable to Starbucks
- Net earnings fluctuate more markedly compared to revenues and operating income. The profit increases steadily until 2007, followed by a significant reduction in 2008 mirroring the operating income decline. Earnings recover strongly by 2010 and continue an upward path with a peak around 2014 and 2015. In 2013, earnings drop notably to $8.3 million, the lowest during the period surveyed, corresponding with the operating income loss. Another drop occurs amid the 2020 economic impacts, with net earnings falling to $928 million, less than half of the 2019 level. Recovery is observed post-2020, with earnings rebounding but showing more volatility than revenues and operating income, including a notable dip in 2022. By 2024, net earnings stabilize around $3.76 billion.
Overall, the company demonstrates strong revenue growth over the long term, with resilience following economic downturns as evidenced by the recovery patterns post-2008 and post-2020. Operating income and net earnings are more sensitive to economic conditions and operational challenges, reflecting periods of volatility and downturns. While net earnings show greater fluctuations, the general trend aligns with revenue and operating income growth, indicating overall financial health with intermittent periods of stress.
Balance Sheet: Assets
Starbucks Corp., selected items from assets, long-term trends
US$ in thousands
| Current assets | Total assets | |
|---|---|---|
| Sep 29, 2024 | 6,847,400) | 31,339,300) |
| Oct 1, 2023 | 7,303,400) | 29,445,500) |
| Oct 2, 2022 | 7,018,700) | 27,978,400) |
| Oct 3, 2021 | 9,756,400) | 31,392,600) |
| Sep 27, 2020 | 7,806,400) | 29,374,500) |
| Sep 29, 2019 | 5,653,900) | 19,219,600) |
| Sep 30, 2018 | 12,494,200) | 24,156,400) |
| Oct 1, 2017 | 5,283,400) | 14,365,600) |
| Oct 2, 2016 | 4,760,500) | 14,329,500) |
| Sep 27, 2015 | 4,352,700) | 12,446,100) |
| Sep 28, 2014 | 4,168,700) | 10,752,900) |
| Sep 29, 2013 | 5,471,400) | 11,516,700) |
| Sep 30, 2012 | 4,199,600) | 8,219,200) |
| Oct 2, 2011 | 3,794,900) | 7,360,400) |
| Oct 3, 2010 | 2,756,400) | 6,385,900) |
| Sep 27, 2009 | 2,035,800) | 5,576,800) |
| Sep 28, 2008 | 1,748,000) | 5,672,600) |
| Sep 30, 2007 | 1,696,487) | 5,343,878) |
| Oct 1, 2006 | 1,529,788) | 4,428,941) |
| Oct 2, 2005 | 1,209,334) | 3,514,065) |
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), 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).
The financial data over the reporting periods shows notable trends in both current assets and total assets. There is an overall increasing trend in current assets, rising from approximately $1.21 billion in 2005 to a peak of about $12.49 billion in 2018. This increase is characterized by a steady upward movement with occasional fluctuations. A significant spike is observed in 2018, after which current assets decline to around $6.85 billion by 2024.
Total assets also demonstrate a growth pattern starting at approximately $3.51 billion in 2005 and reaching a high near $31.39 billion in 2021. Despite some volatility, total assets generally increase throughout the years, with sharp rises noticeable between 2017 and 2018, and between 2019 and 2021. From 2021 onwards, total assets show some variability but remain elevated above $27.9 billion through 2024.
- Current assets
- Increased steadily over the period with remarkable acceleration from 2016 to 2018.
- Reached maximum value in 2018, followed by a decrease and stabilization around a lower, yet substantial, level toward 2024.
- This pattern may reflect working capital management adjustments or changes in liquidity requirements over time.
- Total assets
- Exhibited robust growth with near ninefold increase from 2005 to 2021, indicating expansion in asset base and possibly investments or acquisitions.
- Sharp increases in asset value occur particularly between 2017 and 2018, and 2019 to 2021, suggesting periods of accelerated company growth or capitalization.
- Although some fluctuations appear post-2021, the asset base remains significantly higher compared to earlier years, which underscores sustained scale of operations and capital intensity.
Overall, the upward trends in both current and total assets suggest expansion and increased operational scale. The peak and subsequent decline in current assets after 2018 might merit further analysis to understand underlying causes such as asset reallocation, changes in cash or inventory levels, or shifts in business strategy affecting liquidity.
Balance Sheet: Liabilities and Stockholders’ Equity
Starbucks Corp., selected items from liabilities and stockholders’ equity, long-term trends
US$ in thousands
| Current liabilities | Total liabilities | Total debt | Shareholders’ equity (deficit) | |
|---|---|---|---|---|
| Sep 29, 2024 | 9,070,000) | 38,780,900) | 15,568,400) | (7,448,900) |
| Oct 1, 2023 | 9,345,300) | 37,433,300) | 15,399,700) | (7,994,800) |
| Oct 2, 2022 | 9,151,800) | 36,677,100) | 15,043,900) | (8,706,600) |
| Oct 3, 2021 | 8,151,400) | 36,707,100) | 14,615,800) | (5,321,200) |
| Sep 27, 2020 | 7,346,800) | 37,173,900) | 16,348,300) | (7,805,100) |
| Sep 29, 2019 | 6,168,700) | 25,450,600) | 11,167,000) | (6,232,200) |
| Sep 30, 2018 | 5,684,200) | 22,980,600) | 9,440,100) | 1,169,500) |
| Oct 1, 2017 | 4,220,700) | 8,908,600) | 3,932,600) | 5,450,100) |
| Oct 2, 2016 | 4,546,900) | 8,438,800) | 3,602,200) | 5,884,000) |
| Sep 27, 2015 | 3,653,500) | 6,626,300) | 2,347,500) | 5,818,000) |
| Sep 28, 2014 | 3,038,700) | 5,479,200) | 2,048,300) | 5,272,000) |
| Sep 29, 2013 | 5,377,300) | 7,034,400) | 1,299,400) | 4,480,200) |
| Sep 30, 2012 | 2,209,800) | 3,104,700) | 549,600) | 5,109,000) |
| Oct 2, 2011 | 2,075,800) | 2,973,100) | 549,500) | 4,384,900) |
| Oct 3, 2010 | 1,779,100) | 2,703,600) | 549,400) | 3,674,700) |
| Sep 27, 2009 | 1,581,000) | 2,519,900) | 549,500) | 3,045,700) |
| Sep 28, 2008 | 2,189,700) | 3,163,400) | 1,263,300) | 2,490,900) |
| Sep 30, 2007 | 2,155,566) | 3,042,461) | 1,261,144) | 2,284,117) |
| Oct 1, 2006 | 1,935,620) | 2,200,435) | 702,720) | 2,228,506) |
| Oct 2, 2005 | 1,226,996) | —) | 280,618) | 2,090,634) |
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), 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).
The financial data reveals several notable trends in the company's liabilities, debt, and shareholders' equity over the presented periods.
- Current liabilities
- Current liabilities initially increased steadily from approximately 1.23 billion USD in 2005 to about 2.21 billion USD by 2008. A significant jump is observed in 2013, rising sharply to approximately 5.38 billion USD, followed by a decline and subsequent fluctuations around 3 to 6 billion USD over the next several years. From 2019 to 2022, current liabilities increased consistently, peaking near 9.15 billion USD in 2022, before showing a slight decline towards 9.07 billion USD in 2024.
- Total liabilities
- Total liabilities data are missing for 2005 but show a rising trend from around 2.20 billion USD in 2006 to approximately 3.16 billion USD in 2008. Between 2008 and 2012, the figure hovered between 2.5 and 3.1 billion USD, before increasing sharply to roughly 7.03 billion USD in 2013. After some volatility, total liabilities surged notably in 2014, reaching over 22.9 billion USD by that year and then nearly doubling by 2017 to approximately 25.4 billion USD. A steep increase followed, peaking near 37.17 billion USD in 2020. Subsequently, total liabilities stabilized around 36.7 to 38.8 billion USD through 2024, indicating considerable growth compared to earlier years.
- Total debt
- Total debt rose substantially from about 280.6 million USD in 2005 to 1.26 billion USD by 2007, then decreased to approximately 549.5 million USD from 2009 through 2012. Starting in 2013, debt levels increased sharply again, climbing to about 1.3 billion USD, and then continuously rising to a peak of around 16.3 billion USD in 2020. Following slight fluctuations, the debt levels remained elevated, stabilizing between 15.3 and 15.6 billion USD through 2024. This pattern indicates an aggressive debt-financed expansion or increased leverage over the years.
- Shareholders' equity (deficit)
- Shareholders' equity showed consistent growth from roughly 2.09 billion USD in 2005 to a peak near 5.11 billion USD in 2012. However, beginning in 2013, equity fluctuated considerably and began declining dramatically after 2016. By 2017, equity dropped near 1.17 billion USD and turned negative between 2018 and 2019, with an increasing deficit reaching approximately -7.8 billion USD in 2019. The equity deficit remained substantial thereafter, fluctuating between -5.3 billion USD and -8.7 billion USD through 2024. This shift from positive to negative equity suggests increasing financial pressure and possibly accumulating losses or large distributions exceeding retained earnings.
Overall, the data depict a company that has expanded its liabilities and debt extensively over the examined periods, particularly since 2013. The marked increase in total debt and liabilities contrasts sharply with the deterioration of shareholders' equity, which suggests increased financial leverage and growing risks related to solvency and capital structure. The transition to negative equity indicates potential challenges in maintaining a healthy balance sheet.
Cash Flow Statement
Starbucks Corp., selected items from cash flow statement, long-term trends
US$ in thousands
| 12 months ended: | Net cash provided by operating activities | Net cash used in investing activities | Net cash provided by (used in) financing activities |
|---|---|---|---|
| Sep 29, 2024 | 6,095,600) | (2,699,200) | (3,718,200) |
| Oct 1, 2023 | 6,008,700) | (2,270,800) | (2,990,600) |
| Oct 2, 2022 | 4,397,300) | (2,146,300) | (5,638,000) |
| Oct 3, 2021 | 5,989,100) | (319,500) | (3,651,000) |
| Sep 27, 2020 | 1,597,800) | (1,711,500) | 1,713,300) |
| Sep 29, 2019 | 5,047,000) | (1,010,800) | (10,056,900) |
| Sep 30, 2018 | 11,937,800) | (2,361,500) | (3,242,800) |
| Oct 1, 2017 | 4,174,300) | (850,000) | (3,001,600) |
| Oct 2, 2016 | 4,575,100) | (2,222,900) | (1,750,000) |
| Sep 27, 2015 | 3,749,100) | (1,520,300) | (2,256,500) |
| Sep 28, 2014 | 607,800) | (817,700) | (623,300) |
| Sep 29, 2013 | 2,908,300) | (1,411,200) | (108,200) |
| Sep 30, 2012 | 1,750,300) | (974,000) | (745,500) |
| Oct 2, 2011 | 1,612,400) | (1,019,500) | (608,000) |
| Oct 3, 2010 | 1,704,900) | (789,500) | (346,000) |
| Sep 27, 2009 | 1,389,000) | (421,100) | (642,200) |
| Sep 28, 2008 | 1,258,700) | (1,086,600) | (184,500) |
| Sep 30, 2007 | 1,331,221) | (1,201,951) | (171,887) |
| Oct 1, 2006 | 1,131,633) | (841,040) | (155,326) |
| Oct 2, 2005 | 923,608) | (221,308) | (673,827) |
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), 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).
The annual financial data reveals significant variability in cash flow activities over the observed periods. The provided cash flows are divided into three main activities: operating, investing, and financing.
- Net Cash Provided by Operating Activities
-
This category shows a general upward trend with notable fluctuations. Starting at approximately 924 million US dollars in 2005, the cash generated from operations increased steadily, peaking dramatically at around 11.94 billion in 2018. Thereafter, it declined sharply in 2019 to about 5.05 billion, followed by a significant drop to nearly 1.6 billion in 2020, likely impacted by external factors during that year. Recovery is observed in subsequent years, with cash flows rising again to over 6 billion by 2024.
- Net Cash Used in Investing Activities
-
Investing cash flows consistently indicate outflows, demonstrating ongoing investment activities. The outflows began at about -221 million US dollars in 2005, with an overall increase in magnitude until around 2007 and 2008, peaking near -1.2 billion. Variations occurred in the following years, with periods of increased investment outflows generally above -1 billion, and a notable dip to approximately -817 million in 2014. The later years show a continuation of large investment outflows fluctuating mostly between -1 billion and -2.7 billion US dollars, reaching the highest outflow of nearly -2.7 billion by 2024.
- Net Cash Provided by (Used in) Financing Activities
-
Financing activities predominantly reflect outflows, indicating repayments, share repurchases, or debt reductions surpassing new funding inflows in most years. Beginning with a large cash outflow of approximately -674 million US dollars in 2005, the financing cash flows continue mainly negative, with some large spikes in outflows. A few years such as 2016 and 2017 exhibit significant outflows exceeding -3 billion. A considerable negative spike is seen in 2019 when the outflow reached over -10 billion, representing an exceptional financing event. Anomalously, 2020 experienced a positive cash flow of around 1.7 billion, before reverting back to negative cash flows in the following years, reaching nearly -3.7 billion in 2024.
Overall, the cash flow data indicates a company with strong operational cash generation capacity that supports high investment activity and variable financing needs. Fluctuations in financing cash flows indicate changing capital structure and shareholder returns strategies over time. Sharp variations in operating and financing cash flows in specific years suggest responses to external economic factors or strategic financial decisions. The persistent investing cash outflows confirm ongoing expansion and growth efforts throughout the period analyzed.
Per Share Data
Starbucks Corp., selected data per share, long-term trends
US$
| 12 months ended: | Basic earnings per share 1 | Diluted earnings per share 2 | Dividend per share 3 |
|---|---|---|---|
| Sep 29, 2024 | 3.32 | 3.31 | 2.32 |
| Oct 1, 2023 | 3.60 | 3.58 | 2.16 |
| Oct 2, 2022 | 2.85 | 2.83 | 2.00 |
| Oct 3, 2021 | 3.57 | 3.54 | 2.29 |
| Sep 27, 2020 | 0.79 | 0.79 | 1.23 |
| Sep 29, 2019 | 2.95 | 2.92 | 1.49 |
| Sep 30, 2018 | 3.27 | 3.24 | 1.32 |
| Oct 1, 2017 | 1.99 | 1.97 | 1.05 |
| Oct 2, 2016 | 1.91 | 1.90 | 0.85 |
| Sep 27, 2015 | 1.84 | 1.82 | 0.68 |
| Sep 28, 2014 | 1.37 | 1.35 | 0.55 |
| Sep 29, 2013 | 0.01 | 0.01 | 0.45 |
| Sep 30, 2012 | 0.92 | 0.90 | 0.36 |
| Oct 2, 2011 | 0.83 | 0.81 | 0.28 |
| Oct 3, 2010 | 0.64 | 0.62 | 0.18 |
| Sep 27, 2009 | 0.27 | 0.26 | 0.00 |
| Sep 28, 2008 | 0.22 | 0.22 | 0.00 |
| Sep 30, 2007 | 0.45 | 0.44 | 0.00 |
| Oct 1, 2006 | 0.37 | 0.36 | 0.00 |
| Oct 2, 2005 | 0.32 | 0.31 | 0.00 |
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), 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, 2, 3 Data adjusted for splits and stock dividends.
The financial data reveals several important trends and fluctuations in the per-share profitability and dividend distribution over the analyzed period.
- Basic Earnings Per Share (EPS)
- The basic EPS showed initial growth from 0.32 US$ in 2005 to a peak of 0.92 US$ in 2012, indicating steady profit expansion during this phase. However, a significant drop to 0.01 US$ occurred in 2013, suggesting an exceptional adverse event or restructuring impacting earnings that year. Subsequently, the EPS rebounded sharply, reaching 3.27 US$ in 2014 and maintaining an overall upward trend with minor fluctuations until 2019. During 2020, there was another sharp decline to 0.79 US$, likely reflecting extraordinary challenges affecting profitability, followed by recovery to levels above 3 US$ in the subsequent years up to 2024. This pattern underscores the company's resilience and ability to recover profitably after adverse periods.
- Diluted Earnings Per Share
- The diluted EPS closely follows the trajectory of the basic EPS, confirming consistency in earnings performance when accounting for all convertible securities. The values remain slightly lower than basic EPS throughout, reflecting dilution impact, but the trends of growth, sharp declines in 2013 and 2020, and subsequent recoveries mirror those of the basic EPS series.
- Dividend Per Share
- Dividend payments per share started being recorded from 2010 onwards with an initial dividend of 0.18 US$. The company progressively increased its dividend distributions nearly every year until 2019, reaching a peak of 2.29 US$. This steady dividend growth aligns with improving earnings performance over most of the decade. Notably, a decline in the dividend is observed in 2020 to 1.23 US$, concurrent with the earnings decline, indicating a cautious approach to maintaining shareholder returns during difficult times. Following 2020, dividends were increased again, surpassing pre-2020 levels by 2024, which reflects confidence in ongoing financial strength and profitability.
Overall, the data depicts a company with strong earnings growth in the long term, punctuated by periods of notable challenges that affected earnings and dividends. The company's capacity to restore and grow both earnings and dividend payouts after such episodes demonstrates robust financial management and operational recovery capabilities.