Stock Analysis on Net
Stock Analysis on Net

Starbucks Corp. (NASDAQ:SBUX)

Analysis of Solvency Ratios
Quarterly Data

Beginner level

Solvency Ratios (Summary)

Starbucks Corp., solvency ratios (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 27, 2020 Jun 28, 2020 Mar 29, 2020 Dec 29, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 30, 2018 Sep 30, 2018 Jul 1, 2018 Apr 1, 2018 Dec 31, 2017 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Jan 1, 2017 Oct 2, 2016 Jun 26, 2016 Mar 27, 2016 Dec 27, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015 Dec 28, 2014
Debt Ratios
Debt to equity 8.07 1.70 1.39 0.85 0.72 0.67 0.71 0.55 0.61 0.63 0.59 0.39 0.40 0.49 0.34 0.35
Debt to equity (including operating lease liability) 8.07 1.70 1.39 0.85 0.72 0.67 0.71 0.55 0.61 0.63 0.59 0.39 0.40 0.49 0.34 0.35
Debt to capital 1.91 2.05 2.16 2.38 2.26 1.63 2.21 1.46 0.89 0.63 0.58 0.46 0.42 0.40 0.41 0.35 0.38 0.39 0.37 0.28 0.29 0.33 0.25 0.26
Debt to capital (including operating lease liability) 1.45 1.50 1.49 1.49 2.26 1.63 2.21 1.46 0.89 0.63 0.58 0.46 0.42 0.40 0.41 0.35 0.38 0.39 0.37 0.28 0.29 0.33 0.25 0.26
Debt to assets 0.56 0.58 0.51 0.42 0.58 0.53 0.52 0.46 0.39 0.40 0.37 0.27 0.27 0.27 0.28 0.23 0.25 0.26 0.24 0.18 0.19 0.23 0.17 0.17
Debt to assets (including operating lease liability) 0.86 0.88 0.83 0.74 0.58 0.53 0.52 0.46 0.39 0.40 0.37 0.27 0.27 0.27 0.28 0.23 0.25 0.26 0.24 0.18 0.19 0.23 0.17 0.17
Financial leverage 20.66 4.31 3.73 3.22 2.64 2.49 2.54 2.42 2.44 2.42 2.46 2.16 2.14 2.20 2.03 2.14
Coverage Ratios
Interest coverage 3.66 5.23 12.29 14.35 14.49 15.69 15.50 18.04 34.94 47.62 57.42 66.44 47.68 47.16 48.23 49.33 52.64 52.87 53.03 52.67 56.36

Based on: 10-K (filing date: 2020-11-12), 10-Q (filing date: 2020-07-28), 10-Q (filing date: 2020-04-28), 10-Q (filing date: 2020-01-28), 10-K (filing date: 2019-11-15), 10-Q (filing date: 2019-07-30), 10-Q (filing date: 2019-04-30), 10-Q (filing date: 2019-01-29), 10-K (filing date: 2018-11-16), 10-Q (filing date: 2018-07-31), 10-Q (filing date: 2018-05-01), 10-Q (filing date: 2018-01-31), 10-K (filing date: 2017-11-17), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-05-02), 10-Q (filing date: 2017-01-31), 10-K (filing date: 2016-11-18), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-26), 10-Q (filing date: 2016-01-26), 10-K (filing date: 2015-11-12), 10-Q (filing date: 2015-07-28), 10-Q (filing date: 2015-04-28), 10-Q (filing date: 2015-01-27).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity.
Debt to equity (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Starbucks Corp.’s debt to capital ratio improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.
Debt to capital (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Starbucks Corp.’s debt to capital ratio (including operating lease liability) deteriorated from Q2 2020 to Q3 2020 but then improved from Q3 2020 to Q4 2020 exceeding Q2 2020 level.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Starbucks Corp.’s debt to assets ratio deteriorated from Q2 2020 to Q3 2020 but then slightly improved from Q3 2020 to Q4 2020.
Debt to assets (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Starbucks Corp.’s debt to assets ratio (including operating lease liability) deteriorated from Q2 2020 to Q3 2020 but then slightly improved from Q3 2020 to Q4 2020.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Starbucks Corp.’s interest coverage ratio deteriorated from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Debt to Equity

Starbucks Corp., debt to equity calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 27, 2020 Jun 28, 2020 Mar 29, 2020 Dec 29, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 30, 2018 Sep 30, 2018 Jul 1, 2018 Apr 1, 2018 Dec 31, 2017 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Jan 1, 2017 Oct 2, 2016 Jun 26, 2016 Mar 27, 2016 Dec 27, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015 Dec 28, 2014
Selected Financial Data (US$ in thousands)
Short-term debt 438,800  936,500  1,107,100  497,900  —  —  75,000  —  —  300,000  —  —  —  —  25,000  —  —  —  149,100  —  —  —  —  — 
Current portion of long-term debt 1,249,900  1,249,600  1,249,400  498,700  —  —  —  —  349,900  349,800  349,700  349,900  —  —  —  —  400,000  399,800  399,800  399,800  —  549,800  —  — 
Long-term debt, excluding current portion 14,659,600  14,645,600  11,658,700  10,653,200  11,167,000  11,159,100  9,141,500  9,130,700  9,090,200  6,149,100  6,185,100  4,566,500  3,932,600  3,935,500  3,942,500  3,185,700  3,202,200  3,202,400  2,447,600  1,947,900  2,347,500  2,347,400  2,048,500  2,048,400 
Total debt 16,348,300  16,831,700  14,015,200  11,649,800  11,167,000  11,159,100  9,216,500  9,130,700  9,440,100  6,798,900  6,534,800  4,916,400  3,932,600  3,935,500  3,967,500  3,185,700  3,602,200  3,602,200  2,996,500  2,347,700  2,347,500  2,897,200  2,048,500  2,048,400 
 
Shareholders’ equity (deficit) (7,805,100) (8,621,600) (7,530,100) (6,759,900) (6,232,200) (4,320,600) (5,036,900) (2,884,900) 1,169,500  3,990,700  4,711,200  5,752,100  5,450,100  5,843,400  5,605,000  5,796,600  5,884,000  5,721,800  5,094,600  5,981,500  5,818,000  5,856,500  6,008,700  5,775,400 
Solvency Ratio
Debt to equity1 8.07 1.70 1.39 0.85 0.72 0.67 0.71 0.55 0.61 0.63 0.59 0.39 0.40 0.49 0.34 0.35
Benchmarks
Debt to Equity, Competitors2
Booking Holdings Inc. 2.40 2.90 2.23 1.45 1.43 1.63 1.24 0.98 0.87 0.83 0.84 0.85 0.75 0.73 0.76 0.73 0.75 0.78 0.70 0.70 0.64 0.63 0.61
McDonald’s Corp. 40.64 6.05 3.40 2.16 1.70 1.25

Based on: 10-K (filing date: 2020-11-12), 10-Q (filing date: 2020-07-28), 10-Q (filing date: 2020-04-28), 10-Q (filing date: 2020-01-28), 10-K (filing date: 2019-11-15), 10-Q (filing date: 2019-07-30), 10-Q (filing date: 2019-04-30), 10-Q (filing date: 2019-01-29), 10-K (filing date: 2018-11-16), 10-Q (filing date: 2018-07-31), 10-Q (filing date: 2018-05-01), 10-Q (filing date: 2018-01-31), 10-K (filing date: 2017-11-17), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-05-02), 10-Q (filing date: 2017-01-31), 10-K (filing date: 2016-11-18), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-26), 10-Q (filing date: 2016-01-26), 10-K (filing date: 2015-11-12), 10-Q (filing date: 2015-07-28), 10-Q (filing date: 2015-04-28), 10-Q (filing date: 2015-01-27).

1 Q4 2020 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity (deficit)
= 16,348,300 ÷ -7,805,100 =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity.

Debt to Equity (including Operating Lease Liability)

Starbucks Corp., debt to equity (including operating lease liability) calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 27, 2020 Jun 28, 2020 Mar 29, 2020 Dec 29, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 30, 2018 Sep 30, 2018 Jul 1, 2018 Apr 1, 2018 Dec 31, 2017 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Jan 1, 2017 Oct 2, 2016 Jun 26, 2016 Mar 27, 2016 Dec 27, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015 Dec 28, 2014
Selected Financial Data (US$ in thousands)
Short-term debt 438,800  936,500  1,107,100  497,900  —  —  75,000  —  —  300,000  —  —  —  —  25,000  —  —  —  149,100  —  —  —  —  — 
Current portion of long-term debt 1,249,900  1,249,600  1,249,400  498,700  —  —  —  —  349,900  349,800  349,700  349,900  —  —  —  —  400,000  399,800  399,800  399,800  —  549,800  —  — 
Long-term debt, excluding current portion 14,659,600  14,645,600  11,658,700  10,653,200  11,167,000  11,159,100  9,141,500  9,130,700  9,090,200  6,149,100  6,185,100  4,566,500  3,932,600  3,935,500  3,942,500  3,185,700  3,202,200  3,202,400  2,447,600  1,947,900  2,347,500  2,347,400  2,048,500  2,048,400 
Total debt 16,348,300  16,831,700  14,015,200  11,649,800  11,167,000  11,159,100  9,216,500  9,130,700  9,440,100  6,798,900  6,534,800  4,916,400  3,932,600  3,935,500  3,967,500  3,185,700  3,602,200  3,602,200  2,996,500  2,347,700  2,347,500  2,897,200  2,048,500  2,048,400 
Current portion of operating lease liability 1,248,800  1,237,100  1,253,500  1,268,900  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Operating lease liability, excluding current portion 7,661,700  7,653,600  7,650,400  7,711,700  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Total debt (including operating lease liability) 25,258,800  25,722,400  22,919,100  20,630,400  11,167,000  11,159,100  9,216,500  9,130,700  9,440,100  6,798,900  6,534,800  4,916,400  3,932,600  3,935,500  3,967,500  3,185,700  3,602,200  3,602,200  2,996,500  2,347,700  2,347,500  2,897,200  2,048,500  2,048,400 
 
Shareholders’ equity (deficit) (7,805,100) (8,621,600) (7,530,100) (6,759,900) (6,232,200) (4,320,600) (5,036,900) (2,884,900) 1,169,500  3,990,700  4,711,200  5,752,100  5,450,100  5,843,400  5,605,000  5,796,600  5,884,000  5,721,800  5,094,600  5,981,500  5,818,000  5,856,500  6,008,700  5,775,400 
Solvency Ratio
Debt to equity (including operating lease liability)1 8.07 1.70 1.39 0.85 0.72 0.67 0.71 0.55 0.61 0.63 0.59 0.39 0.40 0.49 0.34 0.35
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Booking Holdings Inc. 2.49 3.01 2.35 1.53 1.51 1.73 1.31 0.98 0.87 0.83 0.84 0.85 0.75 0.73 0.76 0.73 0.75 0.78 0.70 0.70 0.64 0.63 0.61
McDonald’s Corp. 40.64 6.05 3.40 2.16 1.70 1.25

Based on: 10-K (filing date: 2020-11-12), 10-Q (filing date: 2020-07-28), 10-Q (filing date: 2020-04-28), 10-Q (filing date: 2020-01-28), 10-K (filing date: 2019-11-15), 10-Q (filing date: 2019-07-30), 10-Q (filing date: 2019-04-30), 10-Q (filing date: 2019-01-29), 10-K (filing date: 2018-11-16), 10-Q (filing date: 2018-07-31), 10-Q (filing date: 2018-05-01), 10-Q (filing date: 2018-01-31), 10-K (filing date: 2017-11-17), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-05-02), 10-Q (filing date: 2017-01-31), 10-K (filing date: 2016-11-18), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-26), 10-Q (filing date: 2016-01-26), 10-K (filing date: 2015-11-12), 10-Q (filing date: 2015-07-28), 10-Q (filing date: 2015-04-28), 10-Q (filing date: 2015-01-27).

1 Q4 2020 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Shareholders’ equity (deficit)
= 25,258,800 ÷ -7,805,100 =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity.

Debt to Capital

Starbucks Corp., debt to capital calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 27, 2020 Jun 28, 2020 Mar 29, 2020 Dec 29, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 30, 2018 Sep 30, 2018 Jul 1, 2018 Apr 1, 2018 Dec 31, 2017 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Jan 1, 2017 Oct 2, 2016 Jun 26, 2016 Mar 27, 2016 Dec 27, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015 Dec 28, 2014
Selected Financial Data (US$ in thousands)
Short-term debt 438,800  936,500  1,107,100  497,900  —  —  75,000  —  —  300,000  —  —  —  —  25,000  —  —  —  149,100  —  —  —  —  — 
Current portion of long-term debt 1,249,900  1,249,600  1,249,400  498,700  —  —  —  —  349,900  349,800  349,700  349,900  —  —  —  —  400,000  399,800  399,800  399,800  —  549,800  —  — 
Long-term debt, excluding current portion 14,659,600  14,645,600  11,658,700  10,653,200  11,167,000  11,159,100  9,141,500  9,130,700  9,090,200  6,149,100  6,185,100  4,566,500  3,932,600  3,935,500  3,942,500  3,185,700  3,202,200  3,202,400  2,447,600  1,947,900  2,347,500  2,347,400  2,048,500  2,048,400 
Total debt 16,348,300  16,831,700  14,015,200  11,649,800  11,167,000  11,159,100  9,216,500  9,130,700  9,440,100  6,798,900  6,534,800  4,916,400  3,932,600  3,935,500  3,967,500  3,185,700  3,602,200  3,602,200  2,996,500  2,347,700  2,347,500  2,897,200  2,048,500  2,048,400 
Shareholders’ equity (deficit) (7,805,100) (8,621,600) (7,530,100) (6,759,900) (6,232,200) (4,320,600) (5,036,900) (2,884,900) 1,169,500  3,990,700  4,711,200  5,752,100  5,450,100  5,843,400  5,605,000  5,796,600  5,884,000  5,721,800  5,094,600  5,981,500  5,818,000  5,856,500  6,008,700  5,775,400 
Total capital 8,543,200  8,210,100  6,485,100  4,889,900  4,934,800  6,838,500  4,179,600  6,245,800  10,609,600  10,789,600  11,246,000  10,668,500  9,382,700  9,778,900  9,572,500  8,982,300  9,486,200  9,324,000  8,091,100  8,329,200  8,165,500  8,753,700  8,057,200  7,823,800 
Solvency Ratio
Debt to capital1 1.91 2.05 2.16 2.38 2.26 1.63 2.21 1.46 0.89 0.63 0.58 0.46 0.42 0.40 0.41 0.35 0.38 0.39 0.37 0.28 0.29 0.33 0.25 0.26
Benchmarks
Debt to Capital, Competitors2
Booking Holdings Inc. 0.71 0.74 0.69 0.59 0.59 0.62 0.55 0.50 0.47 0.45 0.46 0.46 0.43 0.42 0.43 0.42 0.43 0.44 0.41 0.41 0.39 0.39 0.38
McDonald’s Corp. 1.29 1.32 1.31 1.32 1.35 1.26 1.25 1.25 1.27 1.23 1.18 1.12 1.14 1.08 1.08 1.09 1.07 0.98 0.86 0.77 0.68 0.63 0.56

Based on: 10-K (filing date: 2020-11-12), 10-Q (filing date: 2020-07-28), 10-Q (filing date: 2020-04-28), 10-Q (filing date: 2020-01-28), 10-K (filing date: 2019-11-15), 10-Q (filing date: 2019-07-30), 10-Q (filing date: 2019-04-30), 10-Q (filing date: 2019-01-29), 10-K (filing date: 2018-11-16), 10-Q (filing date: 2018-07-31), 10-Q (filing date: 2018-05-01), 10-Q (filing date: 2018-01-31), 10-K (filing date: 2017-11-17), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-05-02), 10-Q (filing date: 2017-01-31), 10-K (filing date: 2016-11-18), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-26), 10-Q (filing date: 2016-01-26), 10-K (filing date: 2015-11-12), 10-Q (filing date: 2015-07-28), 10-Q (filing date: 2015-04-28), 10-Q (filing date: 2015-01-27).

1 Q4 2020 Calculation
Debt to capital = Total debt ÷ Total capital
= 16,348,300 ÷ 8,543,200 = 1.91

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Starbucks Corp.’s debt to capital ratio improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Debt to Capital (including Operating Lease Liability)

Starbucks Corp., debt to capital (including operating lease liability) calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 27, 2020 Jun 28, 2020 Mar 29, 2020 Dec 29, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 30, 2018 Sep 30, 2018 Jul 1, 2018 Apr 1, 2018 Dec 31, 2017 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Jan 1, 2017 Oct 2, 2016 Jun 26, 2016 Mar 27, 2016 Dec 27, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015 Dec 28, 2014
Selected Financial Data (US$ in thousands)
Short-term debt 438,800  936,500  1,107,100  497,900  —  —  75,000  —  —  300,000  —  —  —  —  25,000  —  —  —  149,100  —  —  —  —  — 
Current portion of long-term debt 1,249,900  1,249,600  1,249,400  498,700  —  —  —  —  349,900  349,800  349,700  349,900  —  —  —  —  400,000  399,800  399,800  399,800  —  549,800  —  — 
Long-term debt, excluding current portion 14,659,600  14,645,600  11,658,700  10,653,200  11,167,000  11,159,100  9,141,500  9,130,700  9,090,200  6,149,100  6,185,100  4,566,500  3,932,600  3,935,500  3,942,500  3,185,700  3,202,200  3,202,400  2,447,600  1,947,900  2,347,500  2,347,400  2,048,500  2,048,400 
Total debt 16,348,300  16,831,700  14,015,200  11,649,800  11,167,000  11,159,100  9,216,500  9,130,700  9,440,100  6,798,900  6,534,800  4,916,400  3,932,600  3,935,500  3,967,500  3,185,700  3,602,200  3,602,200  2,996,500  2,347,700  2,347,500  2,897,200  2,048,500  2,048,400 
Current portion of operating lease liability 1,248,800  1,237,100  1,253,500  1,268,900  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Operating lease liability, excluding current portion 7,661,700  7,653,600  7,650,400  7,711,700  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Total debt (including operating lease liability) 25,258,800  25,722,400  22,919,100  20,630,400  11,167,000  11,159,100  9,216,500  9,130,700  9,440,100  6,798,900  6,534,800  4,916,400  3,932,600  3,935,500  3,967,500  3,185,700  3,602,200  3,602,200  2,996,500  2,347,700  2,347,500  2,897,200  2,048,500  2,048,400 
Shareholders’ equity (deficit) (7,805,100) (8,621,600) (7,530,100) (6,759,900) (6,232,200) (4,320,600) (5,036,900) (2,884,900) 1,169,500  3,990,700  4,711,200  5,752,100  5,450,100  5,843,400  5,605,000  5,796,600  5,884,000  5,721,800  5,094,600  5,981,500  5,818,000  5,856,500  6,008,700  5,775,400 
Total capital (including operating lease liability) 17,453,700  17,100,800  15,389,000  13,870,500  4,934,800  6,838,500  4,179,600  6,245,800  10,609,600  10,789,600  11,246,000  10,668,500  9,382,700  9,778,900  9,572,500  8,982,300  9,486,200  9,324,000  8,091,100  8,329,200  8,165,500  8,753,700  8,057,200  7,823,800 
Solvency Ratio
Debt to capital (including operating lease liability)1 1.45 1.50 1.49 1.49 2.26 1.63 2.21 1.46 0.89 0.63 0.58 0.46 0.42 0.40 0.41 0.35 0.38 0.39 0.37 0.28 0.29 0.33 0.25 0.26
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Booking Holdings Inc. 0.71 0.75 0.70 0.61 0.60 0.63 0.57 0.50 0.47 0.45 0.46 0.46 0.43 0.42 0.43 0.42 0.43 0.44 0.41 0.41 0.39 0.39 0.38
McDonald’s Corp. 1.20 1.22 1.22 1.21 1.23 1.18 1.17 1.25 1.27 1.23 1.18 1.12 1.14 1.08 1.08 1.09 1.07 0.98 0.86 0.77 0.68 0.63 0.56

Based on: 10-K (filing date: 2020-11-12), 10-Q (filing date: 2020-07-28), 10-Q (filing date: 2020-04-28), 10-Q (filing date: 2020-01-28), 10-K (filing date: 2019-11-15), 10-Q (filing date: 2019-07-30), 10-Q (filing date: 2019-04-30), 10-Q (filing date: 2019-01-29), 10-K (filing date: 2018-11-16), 10-Q (filing date: 2018-07-31), 10-Q (filing date: 2018-05-01), 10-Q (filing date: 2018-01-31), 10-K (filing date: 2017-11-17), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-05-02), 10-Q (filing date: 2017-01-31), 10-K (filing date: 2016-11-18), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-26), 10-Q (filing date: 2016-01-26), 10-K (filing date: 2015-11-12), 10-Q (filing date: 2015-07-28), 10-Q (filing date: 2015-04-28), 10-Q (filing date: 2015-01-27).

1 Q4 2020 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 25,258,800 ÷ 17,453,700 = 1.45

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Starbucks Corp.’s debt to capital ratio (including operating lease liability) deteriorated from Q2 2020 to Q3 2020 but then improved from Q3 2020 to Q4 2020 exceeding Q2 2020 level.

Debt to Assets

Starbucks Corp., debt to assets calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 27, 2020 Jun 28, 2020 Mar 29, 2020 Dec 29, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 30, 2018 Sep 30, 2018 Jul 1, 2018 Apr 1, 2018 Dec 31, 2017 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Jan 1, 2017 Oct 2, 2016 Jun 26, 2016 Mar 27, 2016 Dec 27, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015 Dec 28, 2014
Selected Financial Data (US$ in thousands)
Short-term debt 438,800  936,500  1,107,100  497,900  —  —  75,000  —  —  300,000  —  —  —  —  25,000  —  —  —  149,100  —  —  —  —  — 
Current portion of long-term debt 1,249,900  1,249,600  1,249,400  498,700  —  —  —  —  349,900  349,800  349,700  349,900  —  —  —  —  400,000  399,800  399,800  399,800  —  549,800  —  — 
Long-term debt, excluding current portion 14,659,600  14,645,600  11,658,700  10,653,200  11,167,000  11,159,100  9,141,500  9,130,700  9,090,200  6,149,100  6,185,100  4,566,500  3,932,600  3,935,500  3,942,500  3,185,700  3,202,200  3,202,400  2,447,600  1,947,900  2,347,500  2,347,400  2,048,500  2,048,400 
Total debt 16,348,300  16,831,700  14,015,200  11,649,800  11,167,000  11,159,100  9,216,500  9,130,700  9,440,100  6,798,900  6,534,800  4,916,400  3,932,600  3,935,500  3,967,500  3,185,700  3,602,200  3,602,200  2,996,500  2,347,700  2,347,500  2,897,200  2,048,500  2,048,400 
 
Total assets 29,374,500  29,140,600  27,478,900  27,731,300  19,219,600  20,894,400  17,641,900  19,981,300  24,156,400  17,182,100  17,553,500  18,518,500  14,365,600  14,522,700  14,227,900  14,017,300  14,329,500  13,833,200  12,519,400  12,943,500  12,446,100  12,868,800  12,190,700  12,351,100 
Solvency Ratio
Debt to assets1 0.56 0.58 0.51 0.42 0.58 0.53 0.52 0.46 0.39 0.40 0.37 0.27 0.27 0.27 0.28 0.23 0.25 0.26 0.24 0.18 0.19 0.23 0.17 0.17
Benchmarks
Debt to Assets, Competitors2
Booking Holdings Inc. 0.53 0.55 0.48 0.40 0.40 0.40 0.38 0.38 0.36 0.34 0.36 0.37 0.37 0.36 0.38 0.36 0.36 0.37 0.34 0.35 0.33 0.32 0.31
McDonald’s Corp. 0.75 0.78 0.77 0.72 0.72 0.71 0.71 0.95 0.94 0.95 0.92 0.87 0.88 0.87 0.85 0.84 0.80 0.78 0.69 0.64 0.55 0.51 0.44

Based on: 10-K (filing date: 2020-11-12), 10-Q (filing date: 2020-07-28), 10-Q (filing date: 2020-04-28), 10-Q (filing date: 2020-01-28), 10-K (filing date: 2019-11-15), 10-Q (filing date: 2019-07-30), 10-Q (filing date: 2019-04-30), 10-Q (filing date: 2019-01-29), 10-K (filing date: 2018-11-16), 10-Q (filing date: 2018-07-31), 10-Q (filing date: 2018-05-01), 10-Q (filing date: 2018-01-31), 10-K (filing date: 2017-11-17), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-05-02), 10-Q (filing date: 2017-01-31), 10-K (filing date: 2016-11-18), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-26), 10-Q (filing date: 2016-01-26), 10-K (filing date: 2015-11-12), 10-Q (filing date: 2015-07-28), 10-Q (filing date: 2015-04-28), 10-Q (filing date: 2015-01-27).

1 Q4 2020 Calculation
Debt to assets = Total debt ÷ Total assets
= 16,348,300 ÷ 29,374,500 = 0.56

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Starbucks Corp.’s debt to assets ratio deteriorated from Q2 2020 to Q3 2020 but then slightly improved from Q3 2020 to Q4 2020.

Debt to Assets (including Operating Lease Liability)

Starbucks Corp., debt to assets (including operating lease liability) calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 27, 2020 Jun 28, 2020 Mar 29, 2020 Dec 29, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 30, 2018 Sep 30, 2018 Jul 1, 2018 Apr 1, 2018 Dec 31, 2017 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Jan 1, 2017 Oct 2, 2016 Jun 26, 2016 Mar 27, 2016 Dec 27, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015 Dec 28, 2014
Selected Financial Data (US$ in thousands)
Short-term debt 438,800  936,500  1,107,100  497,900  —  —  75,000  —  —  300,000  —  —  —  —  25,000  —  —  —  149,100  —  —  —  —  — 
Current portion of long-term debt 1,249,900  1,249,600  1,249,400  498,700  —  —  —  —  349,900  349,800  349,700  349,900  —  —  —  —  400,000  399,800  399,800  399,800  —  549,800  —  — 
Long-term debt, excluding current portion 14,659,600  14,645,600  11,658,700  10,653,200  11,167,000  11,159,100  9,141,500  9,130,700  9,090,200  6,149,100  6,185,100  4,566,500  3,932,600  3,935,500  3,942,500  3,185,700  3,202,200  3,202,400  2,447,600  1,947,900  2,347,500  2,347,400  2,048,500  2,048,400 
Total debt 16,348,300  16,831,700  14,015,200  11,649,800  11,167,000  11,159,100  9,216,500  9,130,700  9,440,100  6,798,900  6,534,800  4,916,400  3,932,600  3,935,500  3,967,500  3,185,700  3,602,200  3,602,200  2,996,500  2,347,700  2,347,500  2,897,200  2,048,500  2,048,400 
Current portion of operating lease liability 1,248,800  1,237,100  1,253,500  1,268,900  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Operating lease liability, excluding current portion 7,661,700  7,653,600  7,650,400  7,711,700  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Total debt (including operating lease liability) 25,258,800  25,722,400  22,919,100  20,630,400  11,167,000  11,159,100  9,216,500  9,130,700  9,440,100  6,798,900  6,534,800  4,916,400  3,932,600  3,935,500  3,967,500  3,185,700  3,602,200  3,602,200  2,996,500  2,347,700  2,347,500  2,897,200  2,048,500  2,048,400 
 
Total assets 29,374,500  29,140,600  27,478,900  27,731,300  19,219,600  20,894,400  17,641,900  19,981,300  24,156,400  17,182,100  17,553,500  18,518,500  14,365,600  14,522,700  14,227,900  14,017,300  14,329,500  13,833,200  12,519,400  12,943,500  12,446,100  12,868,800  12,190,700  12,351,100 
Solvency Ratio
Debt to assets (including operating lease liability)1 0.86 0.88 0.83 0.74 0.58 0.53 0.52 0.46 0.39 0.40 0.37 0.27 0.27 0.27 0.28 0.23 0.25 0.26 0.24 0.18 0.19 0.23 0.17 0.17
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Booking Holdings Inc. 0.55 0.57 0.50 0.42 0.42 0.43 0.41 0.38 0.36 0.34 0.36 0.37 0.37 0.36 0.38 0.36 0.36 0.37 0.34 0.35 0.33 0.32 0.31
McDonald’s Corp. 1.01 1.04 1.03 1.00 0.99 0.98 0.97 0.95 0.94 0.95 0.92 0.87 0.88 0.87 0.85 0.84 0.80 0.78 0.69 0.64 0.55 0.51 0.44

Based on: 10-K (filing date: 2020-11-12), 10-Q (filing date: 2020-07-28), 10-Q (filing date: 2020-04-28), 10-Q (filing date: 2020-01-28), 10-K (filing date: 2019-11-15), 10-Q (filing date: 2019-07-30), 10-Q (filing date: 2019-04-30), 10-Q (filing date: 2019-01-29), 10-K (filing date: 2018-11-16), 10-Q (filing date: 2018-07-31), 10-Q (filing date: 2018-05-01), 10-Q (filing date: 2018-01-31), 10-K (filing date: 2017-11-17), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-05-02), 10-Q (filing date: 2017-01-31), 10-K (filing date: 2016-11-18), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-26), 10-Q (filing date: 2016-01-26), 10-K (filing date: 2015-11-12), 10-Q (filing date: 2015-07-28), 10-Q (filing date: 2015-04-28), 10-Q (filing date: 2015-01-27).

1 Q4 2020 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 25,258,800 ÷ 29,374,500 = 0.86

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Starbucks Corp.’s debt to assets ratio (including operating lease liability) deteriorated from Q2 2020 to Q3 2020 but then slightly improved from Q3 2020 to Q4 2020.

Financial Leverage

Starbucks Corp., financial leverage calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 27, 2020 Jun 28, 2020 Mar 29, 2020 Dec 29, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 30, 2018 Sep 30, 2018 Jul 1, 2018 Apr 1, 2018 Dec 31, 2017 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Jan 1, 2017 Oct 2, 2016 Jun 26, 2016 Mar 27, 2016 Dec 27, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015 Dec 28, 2014
Selected Financial Data (US$ in thousands)
Total assets 29,374,500  29,140,600  27,478,900  27,731,300  19,219,600  20,894,400  17,641,900  19,981,300  24,156,400  17,182,100  17,553,500  18,518,500  14,365,600  14,522,700  14,227,900  14,017,300  14,329,500  13,833,200  12,519,400  12,943,500  12,446,100  12,868,800  12,190,700  12,351,100 
Shareholders’ equity (deficit) (7,805,100) (8,621,600) (7,530,100) (6,759,900) (6,232,200) (4,320,600) (5,036,900) (2,884,900) 1,169,500  3,990,700  4,711,200  5,752,100  5,450,100  5,843,400  5,605,000  5,796,600  5,884,000  5,721,800  5,094,600  5,981,500  5,818,000  5,856,500  6,008,700  5,775,400 
Solvency Ratio
Financial leverage1 20.66 4.31 3.73 3.22 2.64 2.49 2.54 2.42 2.44 2.42 2.46 2.16 2.14 2.20 2.03 2.14
Benchmarks
Financial Leverage, Competitors2
Booking Holdings Inc. 4.51 5.23 4.66 3.61 3.60 4.05 3.23 2.58 2.45 2.42 2.35 2.26 2.00 2.02 2.03 2.02 2.04 2.12 2.03 1.98 1.95 1.99 1.95
McDonald’s Corp. 51.79 8.75 5.35 3.97 3.31 2.82

Based on: 10-K (filing date: 2020-11-12), 10-Q (filing date: 2020-07-28), 10-Q (filing date: 2020-04-28), 10-Q (filing date: 2020-01-28), 10-K (filing date: 2019-11-15), 10-Q (filing date: 2019-07-30), 10-Q (filing date: 2019-04-30), 10-Q (filing date: 2019-01-29), 10-K (filing date: 2018-11-16), 10-Q (filing date: 2018-07-31), 10-Q (filing date: 2018-05-01), 10-Q (filing date: 2018-01-31), 10-K (filing date: 2017-11-17), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-05-02), 10-Q (filing date: 2017-01-31), 10-K (filing date: 2016-11-18), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-26), 10-Q (filing date: 2016-01-26), 10-K (filing date: 2015-11-12), 10-Q (filing date: 2015-07-28), 10-Q (filing date: 2015-04-28), 10-Q (filing date: 2015-01-27).

1 Q4 2020 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity (deficit)
= 29,374,500 ÷ -7,805,100 =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity.

Interest Coverage

Starbucks Corp., interest coverage calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 27, 2020 Jun 28, 2020 Mar 29, 2020 Dec 29, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 30, 2018 Sep 30, 2018 Jul 1, 2018 Apr 1, 2018 Dec 31, 2017 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Jan 1, 2017 Oct 2, 2016 Jun 26, 2016 Mar 27, 2016 Dec 27, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015 Dec 28, 2014
Selected Financial Data (US$ in thousands)
Net earnings (loss) attributable to Starbucks 392,600  (678,400) 328,400  885,700  802,600  1,372,800  663,200  760,600  755,500  852,500  660,100  2,250,200  788,500  691,600  652,800  751,800  800,900  754,100  575,100  687,600  652,700  626,700  494,900  983,100 
Add: Net income attributable to noncontrolling interest 100  300  (3,600) (400) (400) 400  (4,400) (200) 600  (500) (300) (100) 800  (300) —  (300) 800  400  (100) 100  —  (200) 700  1,400 
Add: Income tax expense 49,700  (133,900) 65,400  258,500  201,600  303,700  161,200  205,100  175,600  174,800  155,800  755,800  362,500  361,100  327,600  381,400  413,500  318,900  285,400  361,900  243,900  318,500  266,300  315,000 
Add: Interest expense 125,100  120,800  99,200  91,900  95,700  86,400  73,900  75,000  63,900  45,400  35,100  25,900  22,300  23,500  22,900  23,800  24,700  21,800  18,300  16,500  18,200  19,100  16,900  16,300 
Earnings before interest and tax (EBIT) 567,500  (691,200) 489,400  1,235,700  1,099,500  1,763,300  893,900  1,040,500  995,600  1,072,200  850,700  3,031,800  1,174,100  1,075,900  1,003,300  1,156,700  1,239,900  1,095,200  878,700  1,066,100  914,800  964,100  778,800  1,315,800 
Solvency Ratio
Interest coverage1 3.66 5.23 12.29 14.35 14.49 15.69 15.50 18.04 34.94 47.62 57.42 66.44 47.68 47.16 48.23 49.33 52.64 52.87 53.03 52.67 56.36
Benchmarks
Interest Coverage, Competitors2
Booking Holdings Inc. 6.44 12.20 17.17 23.40 20.16 19.84 20.07 18.97 19.76 19.25 18.22 18.32 18.71 13.98 13.83 14.05 14.07 18.69 19.32 20.52
McDonald’s Corp. 6.32 6.39 7.77 8.15 8.08 8.29 8.62 8.97 9.26 10.08 10.21 10.31 10.28 9.42 9.02 8.76 9.10 9.69 10.70 11.27

Based on: 10-K (filing date: 2020-11-12), 10-Q (filing date: 2020-07-28), 10-Q (filing date: 2020-04-28), 10-Q (filing date: 2020-01-28), 10-K (filing date: 2019-11-15), 10-Q (filing date: 2019-07-30), 10-Q (filing date: 2019-04-30), 10-Q (filing date: 2019-01-29), 10-K (filing date: 2018-11-16), 10-Q (filing date: 2018-07-31), 10-Q (filing date: 2018-05-01), 10-Q (filing date: 2018-01-31), 10-K (filing date: 2017-11-17), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-05-02), 10-Q (filing date: 2017-01-31), 10-K (filing date: 2016-11-18), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-26), 10-Q (filing date: 2016-01-26), 10-K (filing date: 2015-11-12), 10-Q (filing date: 2015-07-28), 10-Q (filing date: 2015-04-28), 10-Q (filing date: 2015-01-27).

1 Q4 2020 Calculation
Interest coverage = (EBITQ4 2020 + EBITQ3 2020 + EBITQ2 2020 + EBITQ1 2020) ÷ (Interest expenseQ4 2020 + Interest expenseQ3 2020 + Interest expenseQ2 2020 + Interest expenseQ1 2020)
= (567,500 + -691,200 + 489,400 + 1,235,700) ÷ (125,100 + 120,800 + 99,200 + 91,900) = 3.66

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Starbucks Corp.’s interest coverage ratio deteriorated from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.