Analysis of Solvency Ratios
Quarterly Data
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Starbucks Corp., solvency ratios (quarterly data)
Based on: 10-Q (reporting date: 2023-12-31), 10-K (reporting date: 2023-10-01), 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-Q (reporting date: 2023-01-01), 10-K (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-Q (reporting date: 2022-01-02), 10-K (reporting date: 2021-10-03), 10-Q (reporting date: 2021-06-27), 10-Q (reporting date: 2021-03-28), 10-Q (reporting date: 2020-12-27), 10-K (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-Q (reporting date: 2019-12-29), 10-K (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-30), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-07-01), 10-Q (reporting date: 2018-04-01), 10-Q (reporting date: 2017-12-31).
| 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. debt to capital ratio improved from Q3 2023 to Q4 2023 but then deteriorated significantly from Q4 2023 to Q1 2024. |
| 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. debt to capital ratio (including operating lease liability) improved from Q3 2023 to Q4 2023 but then deteriorated significantly from Q4 2023 to Q1 2024. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Starbucks Corp. debt to assets ratio improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
| 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. debt to assets ratio (including operating lease liability) improved from Q3 2023 to Q4 2023 but then slightly deteriorated from Q4 2023 to Q1 2024. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Starbucks Corp. interest coverage ratio improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Debt to Equity
Starbucks Corp., debt to equity calculation (quarterly data)
| Dec 31, 2023 | Oct 1, 2023 | Jul 2, 2023 | Apr 2, 2023 | Jan 1, 2023 | Oct 2, 2022 | Jul 3, 2022 | Apr 3, 2022 | Jan 2, 2022 | Oct 3, 2021 | Jun 27, 2021 | Mar 28, 2021 | Dec 27, 2020 | 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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||
| Short-term debt | 349,500) | 33,500) | 34,500) | 52,800) | —) | 175,000) | 200,000) | —) | 200,000) | —) | —) | 18,300) | 492,600) | 438,800) | 936,500) | 1,107,100) | 497,900) | —) | —) | 75,000) | —) | —) | 300,000) | —) | —) | ||||||||
| Current portion of long-term debt | 1,100,800) | 1,818,600) | 1,835,900) | 1,888,700) | 1,749,300) | 1,749,000) | 999,100) | 1,998,600) | 999,300) | 998,900) | 998,900) | —) | 750,000) | 1,249,900) | 1,249,600) | 1,249,400) | 498,700) | —) | —) | —) | —) | 349,900) | 349,800) | 349,700) | 349,900) | ||||||||
| Long-term debt, excluding current portion | 13,564,800) | 13,547,600) | 13,544,400) | 13,544,800) | 13,176,700) | 13,119,900) | 13,930,800) | 14,014,400) | 13,586,300) | 13,616,900) | 13,619,200) | 14,630,300) | 14,673,500) | 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) | ||||||||
| Total debt | 15,015,100) | 15,399,700) | 15,414,800) | 15,486,300) | 14,926,000) | 15,043,900) | 15,129,900) | 16,013,000) | 14,785,600) | 14,615,800) | 14,618,100) | 14,648,600) | 15,916,100) | 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) | ||||||||
| Shareholders’ equity (deficit) | (8,616,000) | (7,994,800) | (8,348,600) | (8,506,900) | (8,673,800) | (8,706,600) | (8,666,500) | (8,768,000) | (8,457,200) | (5,321,200) | (6,800,800) | (7,654,000) | (7,909,700) | (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) | ||||||||
| Solvency Ratio | |||||||||||||||||||||||||||||||||
| Debt to equity1 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 8.07 | 1.70 | 1.39 | 0.85 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| Debt to Equity, Competitors2 | |||||||||||||||||||||||||||||||||
| Airbnb Inc. | — | 0.24 | 0.22 | 0.39 | 0.38 | 0.36 | 0.36 | 0.38 | 0.42 | 0.42 | 0.45 | 0.58 | 0.63 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Booking Holdings Inc. | — | — | — | — | 11.29 | 4.49 | 2.50 | 2.37 | 2.23 | 1.77 | 1.99 | 2.54 | 2.90 | 2.46 | 2.40 | 2.90 | 2.23 | 1.45 | 1.43 | 1.63 | 1.24 | — | — | — | — | ||||||||
| Carnival Corp. & plc | 4.60 | 4.44 | 4.50 | 5.75 | 5.69 | 4.89 | 4.07 | 4.25 | 3.38 | 2.74 | 2.10 | 1.72 | 1.58 | 1.31 | 1.28 | 1.00 | 0.53 | 0.45 | 0.42 | 0.46 | 0.48 | 0.42 | 0.39 | 0.41 | 0.39 | ||||||||
| Chipotle Mexican Grill Inc. | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | — | ||||||||
| McDonald’s Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2023-12-31), 10-K (reporting date: 2023-10-01), 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-Q (reporting date: 2023-01-01), 10-K (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-Q (reporting date: 2022-01-02), 10-K (reporting date: 2021-10-03), 10-Q (reporting date: 2021-06-27), 10-Q (reporting date: 2021-03-28), 10-Q (reporting date: 2020-12-27), 10-K (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-Q (reporting date: 2019-12-29), 10-K (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-30), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-07-01), 10-Q (reporting date: 2018-04-01), 10-Q (reporting date: 2017-12-31).
1 Q1 2024 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity (deficit)
= 15,015,100 ÷ -8,616,000 = —
2 Click competitor name to see calculations.
Debt to Equity (including Operating Lease Liability)
Starbucks Corp., debt to equity (including operating lease liability) calculation (quarterly data)
| Dec 31, 2023 | Oct 1, 2023 | Jul 2, 2023 | Apr 2, 2023 | Jan 1, 2023 | Oct 2, 2022 | Jul 3, 2022 | Apr 3, 2022 | Jan 2, 2022 | Oct 3, 2021 | Jun 27, 2021 | Mar 28, 2021 | Dec 27, 2020 | 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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||
| Short-term debt | 349,500) | 33,500) | 34,500) | 52,800) | —) | 175,000) | 200,000) | —) | 200,000) | —) | —) | 18,300) | 492,600) | 438,800) | 936,500) | 1,107,100) | 497,900) | —) | —) | 75,000) | —) | —) | 300,000) | —) | —) | ||||||||
| Current portion of long-term debt | 1,100,800) | 1,818,600) | 1,835,900) | 1,888,700) | 1,749,300) | 1,749,000) | 999,100) | 1,998,600) | 999,300) | 998,900) | 998,900) | —) | 750,000) | 1,249,900) | 1,249,600) | 1,249,400) | 498,700) | —) | —) | —) | —) | 349,900) | 349,800) | 349,700) | 349,900) | ||||||||
| Long-term debt, excluding current portion | 13,564,800) | 13,547,600) | 13,544,400) | 13,544,800) | 13,176,700) | 13,119,900) | 13,930,800) | 14,014,400) | 13,586,300) | 13,616,900) | 13,619,200) | 14,630,300) | 14,673,500) | 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) | ||||||||
| Total debt | 15,015,100) | 15,399,700) | 15,414,800) | 15,486,300) | 14,926,000) | 15,043,900) | 15,129,900) | 16,013,000) | 14,785,600) | 14,615,800) | 14,618,100) | 14,648,600) | 15,916,100) | 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) | ||||||||
| Current portion of operating lease liability | 1,309,400) | 1,275,300) | 1,265,200) | 1,269,500) | 1,257,500) | 1,245,700) | 1,214,800) | 1,236,300) | 1,253,300) | 1,251,300) | 1,308,400) | 1,296,400) | 1,267,600) | 1,248,800) | 1,237,100) | 1,253,500) | 1,268,900) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||||
| Operating lease liability, excluding current portion | 8,139,000) | 7,924,800) | 7,691,200) | 7,753,500) | 7,635,400) | 7,515,200) | 7,554,400) | 7,668,500) | 7,708,000) | 7,738,000) | 7,597,800) | 7,577,700) | 7,754,500) | 7,661,700) | 7,653,600) | 7,650,400) | 7,711,700) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||||
| Total debt (including operating lease liability) | 24,463,500) | 24,599,800) | 24,371,200) | 24,509,300) | 23,818,900) | 23,804,800) | 23,899,100) | 24,917,800) | 23,746,900) | 23,605,100) | 23,524,300) | 23,522,700) | 24,938,200) | 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) | ||||||||
| Shareholders’ equity (deficit) | (8,616,000) | (7,994,800) | (8,348,600) | (8,506,900) | (8,673,800) | (8,706,600) | (8,666,500) | (8,768,000) | (8,457,200) | (5,321,200) | (6,800,800) | (7,654,000) | (7,909,700) | (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) | ||||||||
| Solvency Ratio | |||||||||||||||||||||||||||||||||
| Debt to equity (including operating lease liability)1 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 8.07 | 1.70 | 1.39 | 0.85 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | |||||||||||||||||||||||||||||||||
| Airbnb Inc. | — | 0.27 | 0.25 | 0.45 | 0.43 | 0.41 | 0.42 | 0.44 | 0.49 | 0.49 | 0.53 | 0.71 | 0.76 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Booking Holdings Inc. | — | — | — | — | 11.79 | 4.69 | 2.58 | 2.45 | 2.31 | 1.83 | 2.04 | 2.60 | 2.97 | 2.53 | 2.49 | 3.01 | 2.35 | 1.53 | 1.51 | 1.73 | 1.31 | — | — | — | — | ||||||||
| Carnival Corp. & plc | 4.79 | 4.63 | 4.69 | 5.98 | 5.91 | 5.08 | 4.21 | 4.41 | 3.51 | 2.85 | 2.20 | 1.80 | 1.65 | 1.38 | 1.35 | 1.07 | 0.59 | 0.45 | 0.42 | 0.46 | 0.48 | 0.42 | 0.39 | 0.41 | 0.39 | ||||||||
| Chipotle Mexican Grill Inc. | — | 1.32 | 1.39 | 1.41 | 1.52 | 1.58 | 1.60 | 1.68 | 1.67 | 1.53 | 1.51 | 1.54 | 1.55 | 1.56 | 1.71 | 1.76 | 1.76 | 1.69 | 1.73 | 1.75 | 1.80 | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2023-12-31), 10-K (reporting date: 2023-10-01), 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-Q (reporting date: 2023-01-01), 10-K (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-Q (reporting date: 2022-01-02), 10-K (reporting date: 2021-10-03), 10-Q (reporting date: 2021-06-27), 10-Q (reporting date: 2021-03-28), 10-Q (reporting date: 2020-12-27), 10-K (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-Q (reporting date: 2019-12-29), 10-K (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-30), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-07-01), 10-Q (reporting date: 2018-04-01), 10-Q (reporting date: 2017-12-31).
1 Q1 2024 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Shareholders’ equity (deficit)
= 24,463,500 ÷ -8,616,000 = —
2 Click competitor name to see calculations.
Debt to Capital
Starbucks Corp., debt to capital calculation (quarterly data)
| Dec 31, 2023 | Oct 1, 2023 | Jul 2, 2023 | Apr 2, 2023 | Jan 1, 2023 | Oct 2, 2022 | Jul 3, 2022 | Apr 3, 2022 | Jan 2, 2022 | Oct 3, 2021 | Jun 27, 2021 | Mar 28, 2021 | Dec 27, 2020 | 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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||
| Short-term debt | 349,500) | 33,500) | 34,500) | 52,800) | —) | 175,000) | 200,000) | —) | 200,000) | —) | —) | 18,300) | 492,600) | 438,800) | 936,500) | 1,107,100) | 497,900) | —) | —) | 75,000) | —) | —) | 300,000) | —) | —) | ||||||||
| Current portion of long-term debt | 1,100,800) | 1,818,600) | 1,835,900) | 1,888,700) | 1,749,300) | 1,749,000) | 999,100) | 1,998,600) | 999,300) | 998,900) | 998,900) | —) | 750,000) | 1,249,900) | 1,249,600) | 1,249,400) | 498,700) | —) | —) | —) | —) | 349,900) | 349,800) | 349,700) | 349,900) | ||||||||
| Long-term debt, excluding current portion | 13,564,800) | 13,547,600) | 13,544,400) | 13,544,800) | 13,176,700) | 13,119,900) | 13,930,800) | 14,014,400) | 13,586,300) | 13,616,900) | 13,619,200) | 14,630,300) | 14,673,500) | 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) | ||||||||
| Total debt | 15,015,100) | 15,399,700) | 15,414,800) | 15,486,300) | 14,926,000) | 15,043,900) | 15,129,900) | 16,013,000) | 14,785,600) | 14,615,800) | 14,618,100) | 14,648,600) | 15,916,100) | 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) | ||||||||
| Shareholders’ equity (deficit) | (8,616,000) | (7,994,800) | (8,348,600) | (8,506,900) | (8,673,800) | (8,706,600) | (8,666,500) | (8,768,000) | (8,457,200) | (5,321,200) | (6,800,800) | (7,654,000) | (7,909,700) | (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) | ||||||||
| Total capital | 6,399,100) | 7,404,900) | 7,066,200) | 6,979,400) | 6,252,200) | 6,337,300) | 6,463,400) | 7,245,000) | 6,328,400) | 9,294,600) | 7,817,300) | 6,994,600) | 8,006,400) | 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) | ||||||||
| Solvency Ratio | |||||||||||||||||||||||||||||||||
| Debt to capital1 | 2.35 | 2.08 | 2.18 | 2.22 | 2.39 | 2.37 | 2.34 | 2.21 | 2.34 | 1.57 | 1.87 | 2.09 | 1.99 | 1.91 | 2.05 | 2.16 | 2.38 | 2.26 | 1.63 | 2.21 | 1.46 | 0.89 | 0.63 | 0.58 | 0.46 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| Debt to Capital, Competitors2 | |||||||||||||||||||||||||||||||||
| Airbnb Inc. | — | 0.20 | 0.18 | 0.28 | 0.27 | 0.26 | 0.26 | 0.27 | 0.30 | 0.29 | 0.31 | 0.37 | 0.39 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Booking Holdings Inc. | — | 1.24 | 1.05 | 1.05 | 0.92 | 0.82 | 0.71 | 0.70 | 0.69 | 0.64 | 0.67 | 0.72 | 0.74 | 0.71 | 0.71 | 0.74 | 0.69 | 0.59 | 0.59 | 0.62 | 0.55 | — | — | — | — | ||||||||
| Carnival Corp. & plc | 0.82 | 0.82 | 0.82 | 0.85 | 0.85 | 0.83 | 0.80 | 0.81 | 0.77 | 0.73 | 0.68 | 0.63 | 0.61 | 0.57 | 0.56 | 0.50 | 0.35 | 0.31 | 0.30 | 0.32 | 0.32 | 0.30 | 0.28 | 0.29 | 0.28 | ||||||||
| Chipotle Mexican Grill Inc. | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | — | ||||||||
| McDonald’s Corp. | — | 1.14 | 1.15 | 1.16 | 1.18 | 1.20 | 1.23 | 1.23 | 1.21 | 1.15 | 1.19 | 1.20 | 1.25 | 1.26 | 1.29 | 1.32 | 1.31 | 1.32 | 1.35 | 1.26 | 1.25 | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2023-12-31), 10-K (reporting date: 2023-10-01), 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-Q (reporting date: 2023-01-01), 10-K (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-Q (reporting date: 2022-01-02), 10-K (reporting date: 2021-10-03), 10-Q (reporting date: 2021-06-27), 10-Q (reporting date: 2021-03-28), 10-Q (reporting date: 2020-12-27), 10-K (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-Q (reporting date: 2019-12-29), 10-K (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-30), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-07-01), 10-Q (reporting date: 2018-04-01), 10-Q (reporting date: 2017-12-31).
1 Q1 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 15,015,100 ÷ 6,399,100 = 2.35
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. debt to capital ratio improved from Q3 2023 to Q4 2023 but then deteriorated significantly from Q4 2023 to Q1 2024. |
Debt to Capital (including Operating Lease Liability)
Starbucks Corp., debt to capital (including operating lease liability) calculation (quarterly data)
| Dec 31, 2023 | Oct 1, 2023 | Jul 2, 2023 | Apr 2, 2023 | Jan 1, 2023 | Oct 2, 2022 | Jul 3, 2022 | Apr 3, 2022 | Jan 2, 2022 | Oct 3, 2021 | Jun 27, 2021 | Mar 28, 2021 | Dec 27, 2020 | 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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||
| Short-term debt | 349,500) | 33,500) | 34,500) | 52,800) | —) | 175,000) | 200,000) | —) | 200,000) | —) | —) | 18,300) | 492,600) | 438,800) | 936,500) | 1,107,100) | 497,900) | —) | —) | 75,000) | —) | —) | 300,000) | —) | —) | ||||||||
| Current portion of long-term debt | 1,100,800) | 1,818,600) | 1,835,900) | 1,888,700) | 1,749,300) | 1,749,000) | 999,100) | 1,998,600) | 999,300) | 998,900) | 998,900) | —) | 750,000) | 1,249,900) | 1,249,600) | 1,249,400) | 498,700) | —) | —) | —) | —) | 349,900) | 349,800) | 349,700) | 349,900) | ||||||||
| Long-term debt, excluding current portion | 13,564,800) | 13,547,600) | 13,544,400) | 13,544,800) | 13,176,700) | 13,119,900) | 13,930,800) | 14,014,400) | 13,586,300) | 13,616,900) | 13,619,200) | 14,630,300) | 14,673,500) | 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) | ||||||||
| Total debt | 15,015,100) | 15,399,700) | 15,414,800) | 15,486,300) | 14,926,000) | 15,043,900) | 15,129,900) | 16,013,000) | 14,785,600) | 14,615,800) | 14,618,100) | 14,648,600) | 15,916,100) | 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) | ||||||||
| Current portion of operating lease liability | 1,309,400) | 1,275,300) | 1,265,200) | 1,269,500) | 1,257,500) | 1,245,700) | 1,214,800) | 1,236,300) | 1,253,300) | 1,251,300) | 1,308,400) | 1,296,400) | 1,267,600) | 1,248,800) | 1,237,100) | 1,253,500) | 1,268,900) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||||
| Operating lease liability, excluding current portion | 8,139,000) | 7,924,800) | 7,691,200) | 7,753,500) | 7,635,400) | 7,515,200) | 7,554,400) | 7,668,500) | 7,708,000) | 7,738,000) | 7,597,800) | 7,577,700) | 7,754,500) | 7,661,700) | 7,653,600) | 7,650,400) | 7,711,700) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||||
| Total debt (including operating lease liability) | 24,463,500) | 24,599,800) | 24,371,200) | 24,509,300) | 23,818,900) | 23,804,800) | 23,899,100) | 24,917,800) | 23,746,900) | 23,605,100) | 23,524,300) | 23,522,700) | 24,938,200) | 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) | ||||||||
| Shareholders’ equity (deficit) | (8,616,000) | (7,994,800) | (8,348,600) | (8,506,900) | (8,673,800) | (8,706,600) | (8,666,500) | (8,768,000) | (8,457,200) | (5,321,200) | (6,800,800) | (7,654,000) | (7,909,700) | (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) | ||||||||
| Total capital (including operating lease liability) | 15,847,500) | 16,605,000) | 16,022,600) | 16,002,400) | 15,145,100) | 15,098,200) | 15,232,600) | 16,149,800) | 15,289,700) | 18,283,900) | 16,723,500) | 15,868,700) | 17,028,500) | 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) | ||||||||
| Solvency Ratio | |||||||||||||||||||||||||||||||||
| Debt to capital (including operating lease liability)1 | 1.54 | 1.48 | 1.52 | 1.53 | 1.57 | 1.58 | 1.57 | 1.54 | 1.55 | 1.29 | 1.41 | 1.48 | 1.46 | 1.45 | 1.50 | 1.49 | 1.49 | 2.26 | 1.63 | 2.21 | 1.46 | 0.89 | 0.63 | 0.58 | 0.46 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | |||||||||||||||||||||||||||||||||
| Airbnb Inc. | — | 0.22 | 0.20 | 0.31 | 0.30 | 0.29 | 0.29 | 0.31 | 0.33 | 0.33 | 0.35 | 0.41 | 0.43 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Booking Holdings Inc. | — | 1.23 | 1.05 | 1.05 | 0.92 | 0.82 | 0.72 | 0.71 | 0.70 | 0.65 | 0.67 | 0.72 | 0.75 | 0.72 | 0.71 | 0.75 | 0.70 | 0.61 | 0.60 | 0.63 | 0.57 | — | — | — | — | ||||||||
| Carnival Corp. & plc | 0.83 | 0.82 | 0.82 | 0.86 | 0.86 | 0.84 | 0.81 | 0.82 | 0.78 | 0.74 | 0.69 | 0.64 | 0.62 | 0.58 | 0.57 | 0.52 | 0.37 | 0.31 | 0.30 | 0.32 | 0.32 | 0.30 | 0.28 | 0.29 | 0.28 | ||||||||
| Chipotle Mexican Grill Inc. | — | 0.57 | 0.58 | 0.58 | 0.60 | 0.61 | 0.62 | 0.63 | 0.62 | 0.61 | 0.60 | 0.61 | 0.61 | 0.61 | 0.63 | 0.64 | 0.64 | 0.63 | 0.63 | 0.64 | 0.64 | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2023-12-31), 10-K (reporting date: 2023-10-01), 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-Q (reporting date: 2023-01-01), 10-K (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-Q (reporting date: 2022-01-02), 10-K (reporting date: 2021-10-03), 10-Q (reporting date: 2021-06-27), 10-Q (reporting date: 2021-03-28), 10-Q (reporting date: 2020-12-27), 10-K (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-Q (reporting date: 2019-12-29), 10-K (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-30), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-07-01), 10-Q (reporting date: 2018-04-01), 10-Q (reporting date: 2017-12-31).
1 Q1 2024 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 24,463,500 ÷ 15,847,500 = 1.54
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. debt to capital ratio (including operating lease liability) improved from Q3 2023 to Q4 2023 but then deteriorated significantly from Q4 2023 to Q1 2024. |
Debt to Assets
Starbucks Corp., debt to assets calculation (quarterly data)
| Dec 31, 2023 | Oct 1, 2023 | Jul 2, 2023 | Apr 2, 2023 | Jan 1, 2023 | Oct 2, 2022 | Jul 3, 2022 | Apr 3, 2022 | Jan 2, 2022 | Oct 3, 2021 | Jun 27, 2021 | Mar 28, 2021 | Dec 27, 2020 | 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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||
| Short-term debt | 349,500) | 33,500) | 34,500) | 52,800) | —) | 175,000) | 200,000) | —) | 200,000) | —) | —) | 18,300) | 492,600) | 438,800) | 936,500) | 1,107,100) | 497,900) | —) | —) | 75,000) | —) | —) | 300,000) | —) | —) | ||||||||
| Current portion of long-term debt | 1,100,800) | 1,818,600) | 1,835,900) | 1,888,700) | 1,749,300) | 1,749,000) | 999,100) | 1,998,600) | 999,300) | 998,900) | 998,900) | —) | 750,000) | 1,249,900) | 1,249,600) | 1,249,400) | 498,700) | —) | —) | —) | —) | 349,900) | 349,800) | 349,700) | 349,900) | ||||||||
| Long-term debt, excluding current portion | 13,564,800) | 13,547,600) | 13,544,400) | 13,544,800) | 13,176,700) | 13,119,900) | 13,930,800) | 14,014,400) | 13,586,300) | 13,616,900) | 13,619,200) | 14,630,300) | 14,673,500) | 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) | ||||||||
| Total debt | 15,015,100) | 15,399,700) | 15,414,800) | 15,486,300) | 14,926,000) | 15,043,900) | 15,129,900) | 16,013,000) | 14,785,600) | 14,615,800) | 14,618,100) | 14,648,600) | 15,916,100) | 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) | ||||||||
| Total assets | 29,179,700) | 29,445,500) | 28,733,000) | 28,609,000) | 28,256,100) | 27,978,400) | 28,156,200) | 29,021,500) | 28,833,900) | 31,392,600) | 29,476,800) | 28,371,700) | 29,968,400) | 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) | ||||||||
| Solvency Ratio | |||||||||||||||||||||||||||||||||
| Debt to assets1 | 0.51 | 0.52 | 0.54 | 0.54 | 0.53 | 0.54 | 0.54 | 0.55 | 0.51 | 0.47 | 0.50 | 0.52 | 0.53 | 0.56 | 0.58 | 0.51 | 0.42 | 0.58 | 0.53 | 0.52 | 0.46 | 0.39 | 0.40 | 0.37 | 0.27 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| Debt to Assets, Competitors2 | |||||||||||||||||||||||||||||||||
| Airbnb Inc. | — | 0.10 | 0.09 | 0.09 | 0.10 | 0.12 | 0.12 | 0.10 | 0.12 | 0.14 | 0.15 | 0.13 | 0.16 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Booking Holdings Inc. | — | 0.58 | 0.54 | 0.53 | 0.48 | 0.49 | 0.42 | 0.39 | 0.44 | 0.46 | 0.47 | 0.51 | 0.58 | 0.55 | 0.53 | 0.55 | 0.48 | 0.40 | 0.40 | 0.40 | 0.38 | — | — | — | — | ||||||||
| Carnival Corp. & plc | 0.62 | 0.62 | 0.63 | 0.65 | 0.68 | 0.67 | 0.66 | 0.66 | 0.66 | 0.62 | 0.58 | 0.56 | 0.55 | 0.50 | 0.49 | 0.42 | 0.28 | 0.26 | 0.24 | 0.25 | 0.26 | 0.24 | 0.23 | 0.23 | 0.23 | ||||||||
| Chipotle Mexican Grill Inc. | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | — | ||||||||
| McDonald’s Corp. | — | 0.70 | 0.72 | 0.71 | 0.71 | 0.71 | 0.72 | 0.70 | 0.67 | 0.66 | 0.67 | 0.68 | 0.70 | 0.71 | 0.75 | 0.78 | 0.77 | 0.72 | 0.72 | 0.71 | 0.71 | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2023-12-31), 10-K (reporting date: 2023-10-01), 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-Q (reporting date: 2023-01-01), 10-K (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-Q (reporting date: 2022-01-02), 10-K (reporting date: 2021-10-03), 10-Q (reporting date: 2021-06-27), 10-Q (reporting date: 2021-03-28), 10-Q (reporting date: 2020-12-27), 10-K (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-Q (reporting date: 2019-12-29), 10-K (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-30), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-07-01), 10-Q (reporting date: 2018-04-01), 10-Q (reporting date: 2017-12-31).
1 Q1 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= 15,015,100 ÷ 29,179,700 = 0.51
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. debt to assets ratio improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Debt to Assets (including Operating Lease Liability)
Starbucks Corp., debt to assets (including operating lease liability) calculation (quarterly data)
| Dec 31, 2023 | Oct 1, 2023 | Jul 2, 2023 | Apr 2, 2023 | Jan 1, 2023 | Oct 2, 2022 | Jul 3, 2022 | Apr 3, 2022 | Jan 2, 2022 | Oct 3, 2021 | Jun 27, 2021 | Mar 28, 2021 | Dec 27, 2020 | 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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||
| Short-term debt | 349,500) | 33,500) | 34,500) | 52,800) | —) | 175,000) | 200,000) | —) | 200,000) | —) | —) | 18,300) | 492,600) | 438,800) | 936,500) | 1,107,100) | 497,900) | —) | —) | 75,000) | —) | —) | 300,000) | —) | —) | ||||||||
| Current portion of long-term debt | 1,100,800) | 1,818,600) | 1,835,900) | 1,888,700) | 1,749,300) | 1,749,000) | 999,100) | 1,998,600) | 999,300) | 998,900) | 998,900) | —) | 750,000) | 1,249,900) | 1,249,600) | 1,249,400) | 498,700) | —) | —) | —) | —) | 349,900) | 349,800) | 349,700) | 349,900) | ||||||||
| Long-term debt, excluding current portion | 13,564,800) | 13,547,600) | 13,544,400) | 13,544,800) | 13,176,700) | 13,119,900) | 13,930,800) | 14,014,400) | 13,586,300) | 13,616,900) | 13,619,200) | 14,630,300) | 14,673,500) | 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) | ||||||||
| Total debt | 15,015,100) | 15,399,700) | 15,414,800) | 15,486,300) | 14,926,000) | 15,043,900) | 15,129,900) | 16,013,000) | 14,785,600) | 14,615,800) | 14,618,100) | 14,648,600) | 15,916,100) | 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) | ||||||||
| Current portion of operating lease liability | 1,309,400) | 1,275,300) | 1,265,200) | 1,269,500) | 1,257,500) | 1,245,700) | 1,214,800) | 1,236,300) | 1,253,300) | 1,251,300) | 1,308,400) | 1,296,400) | 1,267,600) | 1,248,800) | 1,237,100) | 1,253,500) | 1,268,900) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||||
| Operating lease liability, excluding current portion | 8,139,000) | 7,924,800) | 7,691,200) | 7,753,500) | 7,635,400) | 7,515,200) | 7,554,400) | 7,668,500) | 7,708,000) | 7,738,000) | 7,597,800) | 7,577,700) | 7,754,500) | 7,661,700) | 7,653,600) | 7,650,400) | 7,711,700) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||||
| Total debt (including operating lease liability) | 24,463,500) | 24,599,800) | 24,371,200) | 24,509,300) | 23,818,900) | 23,804,800) | 23,899,100) | 24,917,800) | 23,746,900) | 23,605,100) | 23,524,300) | 23,522,700) | 24,938,200) | 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) | ||||||||
| Total assets | 29,179,700) | 29,445,500) | 28,733,000) | 28,609,000) | 28,256,100) | 27,978,400) | 28,156,200) | 29,021,500) | 28,833,900) | 31,392,600) | 29,476,800) | 28,371,700) | 29,968,400) | 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) | ||||||||
| Solvency Ratio | |||||||||||||||||||||||||||||||||
| Debt to assets (including operating lease liability)1 | 0.84 | 0.84 | 0.85 | 0.86 | 0.84 | 0.85 | 0.85 | 0.86 | 0.82 | 0.75 | 0.80 | 0.83 | 0.83 | 0.86 | 0.88 | 0.83 | 0.74 | 0.58 | 0.53 | 0.52 | 0.46 | 0.39 | 0.40 | 0.37 | 0.27 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | |||||||||||||||||||||||||||||||||
| Airbnb Inc. | — | 0.11 | 0.11 | 0.11 | 0.11 | 0.14 | 0.14 | 0.12 | 0.14 | 0.17 | 0.17 | 0.15 | 0.19 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Booking Holdings Inc. | — | 0.61 | 0.56 | 0.55 | 0.50 | 0.51 | 0.43 | 0.40 | 0.45 | 0.48 | 0.49 | 0.52 | 0.60 | 0.57 | 0.55 | 0.57 | 0.50 | 0.42 | 0.42 | 0.43 | 0.41 | — | — | — | — | ||||||||
| Carnival Corp. & plc | 0.64 | 0.65 | 0.66 | 0.68 | 0.70 | 0.69 | 0.68 | 0.69 | 0.68 | 0.65 | 0.61 | 0.59 | 0.57 | 0.53 | 0.52 | 0.45 | 0.31 | 0.26 | 0.24 | 0.25 | 0.26 | 0.24 | 0.23 | 0.23 | 0.23 | ||||||||
| Chipotle Mexican Grill Inc. | — | 0.50 | 0.51 | 0.51 | 0.53 | 0.54 | 0.55 | 0.55 | 0.55 | 0.53 | 0.53 | 0.53 | 0.53 | 0.53 | 0.55 | 0.56 | 0.57 | 0.56 | 0.57 | 0.58 | 0.58 | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2023-12-31), 10-K (reporting date: 2023-10-01), 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-Q (reporting date: 2023-01-01), 10-K (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-Q (reporting date: 2022-01-02), 10-K (reporting date: 2021-10-03), 10-Q (reporting date: 2021-06-27), 10-Q (reporting date: 2021-03-28), 10-Q (reporting date: 2020-12-27), 10-K (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-Q (reporting date: 2019-12-29), 10-K (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-30), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-07-01), 10-Q (reporting date: 2018-04-01), 10-Q (reporting date: 2017-12-31).
1 Q1 2024 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 24,463,500 ÷ 29,179,700 = 0.84
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. debt to assets ratio (including operating lease liability) improved from Q3 2023 to Q4 2023 but then slightly deteriorated from Q4 2023 to Q1 2024. |
Financial Leverage
Starbucks Corp., financial leverage calculation (quarterly data)
| Dec 31, 2023 | Oct 1, 2023 | Jul 2, 2023 | Apr 2, 2023 | Jan 1, 2023 | Oct 2, 2022 | Jul 3, 2022 | Apr 3, 2022 | Jan 2, 2022 | Oct 3, 2021 | Jun 27, 2021 | Mar 28, 2021 | Dec 27, 2020 | 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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||
| Total assets | 29,179,700) | 29,445,500) | 28,733,000) | 28,609,000) | 28,256,100) | 27,978,400) | 28,156,200) | 29,021,500) | 28,833,900) | 31,392,600) | 29,476,800) | 28,371,700) | 29,968,400) | 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) | ||||||||
| Shareholders’ equity (deficit) | (8,616,000) | (7,994,800) | (8,348,600) | (8,506,900) | (8,673,800) | (8,706,600) | (8,666,500) | (8,768,000) | (8,457,200) | (5,321,200) | (6,800,800) | (7,654,000) | (7,909,700) | (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) | ||||||||
| Solvency Ratio | |||||||||||||||||||||||||||||||||
| Financial leverage1 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 20.66 | 4.31 | 3.73 | 3.22 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| Financial Leverage, Competitors2 | |||||||||||||||||||||||||||||||||
| Airbnb Inc. | — | 2.53 | 2.35 | 4.19 | 3.78 | 2.88 | 2.90 | 3.63 | 3.60 | 2.87 | 3.05 | 4.56 | 3.91 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Booking Holdings Inc. | — | — | — | — | 23.47 | 9.12 | 6.01 | 6.12 | 5.12 | 3.83 | 4.21 | 4.98 | 4.97 | 4.47 | 4.51 | 5.23 | 4.66 | 3.61 | 3.60 | 4.05 | 3.23 | — | — | — | — | ||||||||
| Carnival Corp. & plc | 7.45 | 7.14 | 7.15 | 8.84 | 8.43 | 7.32 | 6.20 | 6.42 | 5.17 | 4.39 | 3.60 | 3.08 | 2.89 | 2.61 | 2.61 | 2.39 | 1.93 | 1.78 | 1.74 | 1.85 | 1.81 | 1.73 | 1.69 | 1.76 | 1.70 | ||||||||
| Chipotle Mexican Grill Inc. | — | 2.63 | 2.74 | 2.73 | 2.84 | 2.93 | 2.93 | 3.04 | 3.03 | 2.90 | 2.87 | 2.91 | 2.93 | 2.96 | 3.12 | 3.15 | 3.11 | 3.03 | 3.04 | 3.03 | 3.12 | — | — | — | — | ||||||||
| McDonald’s Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2023-12-31), 10-K (reporting date: 2023-10-01), 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-Q (reporting date: 2023-01-01), 10-K (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-Q (reporting date: 2022-01-02), 10-K (reporting date: 2021-10-03), 10-Q (reporting date: 2021-06-27), 10-Q (reporting date: 2021-03-28), 10-Q (reporting date: 2020-12-27), 10-K (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-Q (reporting date: 2019-12-29), 10-K (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-30), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-07-01), 10-Q (reporting date: 2018-04-01), 10-Q (reporting date: 2017-12-31).
1 Q1 2024 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity (deficit)
= 29,179,700 ÷ -8,616,000 = —
2 Click competitor name to see calculations.
Interest Coverage
Starbucks Corp., interest coverage calculation (quarterly data)
| Dec 31, 2023 | Oct 1, 2023 | Jul 2, 2023 | Apr 2, 2023 | Jan 1, 2023 | Oct 2, 2022 | Jul 3, 2022 | Apr 3, 2022 | Jan 2, 2022 | Oct 3, 2021 | Jun 27, 2021 | Mar 28, 2021 | Dec 27, 2020 | 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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||
| Net earnings (loss) attributable to Starbucks | 1,024,400) | 1,219,300) | 1,141,700) | 908,300) | 855,200) | 878,300) | 912,900) | 674,500) | 815,900) | 1,764,300) | 1,153,400) | 659,400) | 622,200) | 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) | ||||||||
| Add: Net income attributable to noncontrolling interest | —) | —) | 200) | —) | —) | 300) | 800) | 500) | 200) | 200) | 800) | —) | —) | 100) | 300) | (3,600) | (400) | (400) | 400) | (4,400) | (200) | 600) | (500) | (300) | (100) | ||||||||
| Add: Income tax expense | 354,700) | 373,700) | 322,400) | 301,300) | 279,800) | 222,600) | 278,500) | 201,100) | 246,300) | 482,900) | 257,100) | 230,500) | 186,100) | 49,700) | (133,900) | 65,400) | 258,500) | 201,600) | 303,700) | 161,200) | 205,100) | 175,600) | 174,800) | 155,800) | 755,800) | ||||||||
| Add: Interest expense | 140,100) | 143,200) | 140,900) | 136,300) | 129,700) | 125,400) | 123,100) | 119,100) | 115,300) | 120,700) | 113,400) | 115,000) | 120,700) | 125,100) | 120,800) | 99,200) | 91,900) | 95,700) | 86,400) | 73,900) | 75,000) | 63,900) | 45,400) | 35,100) | 25,900) | ||||||||
| Earnings before interest and tax (EBIT) | 1,519,200) | 1,736,200) | 1,605,200) | 1,345,900) | 1,264,700) | 1,226,600) | 1,315,300) | 995,200) | 1,177,700) | 2,368,100) | 1,524,700) | 1,004,900) | 929,000) | 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) | ||||||||
| Solvency Ratio | |||||||||||||||||||||||||||||||||
| Interest coverage1 | 11.07 | 10.82 | 10.22 | 10.01 | 9.66 | 9.76 | 12.25 | 12.95 | 13.08 | 12.40 | 8.49 | 3.76 | 2.78 | 3.66 | 5.23 | 12.29 | 14.35 | 14.49 | 15.69 | 15.50 | 18.04 | 34.94 | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| Interest Coverage, Competitors2 | |||||||||||||||||||||||||||||||||
| Airbnb Inc. | — | 26.33 | 166.72 | 145.45 | 96.66 | 83.88 | 81.06 | 58.89 | 40.98 | 0.31 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Booking Holdings Inc. | — | 7.11 | 8.82 | 9.14 | 10.82 | 11.03 | 11.24 | 7.95 | 3.94 | 5.39 | 3.50 | 3.03 | 3.59 | 2.59 | 6.44 | 12.20 | 17.17 | 23.40 | — | — | — | — | — | — | — | ||||||||
| Carnival Corp. & plc | 1.21 | 0.97 | 0.21 | -0.77 | -1.74 | -2.78 | -3.71 | -5.12 | -5.00 | -4.95 | -4.71 | -5.12 | -8.26 | -10.46 | -11.71 | -7.55 | 10.30 | 15.86 | 16.27 | 16.09 | 17.01 | 17.53 | — | — | — | ||||||||
| McDonald’s Corp. | — | 8.73 | 8.82 | 8.73 | 7.84 | 7.48 | 7.44 | 7.64 | 8.43 | 8.70 | 8.38 | 7.89 | 6.37 | 6.04 | 6.32 | 6.39 | 7.77 | 8.15 | — | — | — | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2023-12-31), 10-K (reporting date: 2023-10-01), 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-Q (reporting date: 2023-01-01), 10-K (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-Q (reporting date: 2022-01-02), 10-K (reporting date: 2021-10-03), 10-Q (reporting date: 2021-06-27), 10-Q (reporting date: 2021-03-28), 10-Q (reporting date: 2020-12-27), 10-K (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-Q (reporting date: 2019-12-29), 10-K (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-30), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-07-01), 10-Q (reporting date: 2018-04-01), 10-Q (reporting date: 2017-12-31).
1 Q1 2024 Calculation
Interest coverage
= (EBITQ1 2024
+ EBITQ4 2023
+ EBITQ3 2023
+ EBITQ2 2023)
÷ (Interest expenseQ1 2024
+ Interest expenseQ4 2023
+ Interest expenseQ3 2023
+ Interest expenseQ2 2023)
= (1,519,200 + 1,736,200 + 1,605,200 + 1,345,900)
÷ (140,100 + 143,200 + 140,900 + 136,300)
= 11.07
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. interest coverage ratio improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |