Stock Analysis on Net

Starbucks Corp. (NASDAQ:SBUX)

Analysis of Profitability Ratios 

Microsoft Excel

Profitability Ratios (Summary)

Starbucks Corp., profitability ratios

Microsoft Excel
Oct 1, 2023 Oct 2, 2022 Oct 3, 2021 Sep 27, 2020 Sep 29, 2019 Sep 30, 2018
Return on Sales
Gross profit margin 27.37% 25.96% 28.87% 21.51% 28.25% 29.74%
Operating profit margin 16.32% 14.32% 16.77% 6.64% 15.38% 15.71%
Net profit margin 11.46% 10.18% 14.45% 3.95% 13.58% 18.28%
Return on Investment
Return on equity (ROE) 386.34%
Return on assets (ROA) 14.01% 11.73% 13.38% 3.16% 18.73% 18.70%

Based on: 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).

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Starbucks Corp. gross profit margin ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Starbucks Corp. operating profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Starbucks Corp. net profit margin ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.

Profitability ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. Starbucks Corp. ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Gross Profit Margin

Starbucks Corp., gross profit margin calculation, comparison to benchmarks

Microsoft Excel
Oct 1, 2023 Oct 2, 2022 Oct 3, 2021 Sep 27, 2020 Sep 29, 2019 Sep 30, 2018
Selected Financial Data (US$ in thousands)
Gross profit 9,846,200 8,371,100 8,391,000 5,059,100 7,488,100 7,351,800
Net revenues 35,975,600 32,250,300 29,060,600 23,518,000 26,508,600 24,719,500
Profitability Ratio
Gross profit margin1 27.37% 25.96% 28.87% 21.51% 28.25% 29.74%
Benchmarks
Gross Profit Margin, Competitors2
Airbnb Inc. 82.83% 82.15% 80.71% 74.07%
Chipotle Mexican Grill Inc. 26.20% 23.88% 22.62% 17.40% 20.45%
McDonald’s Corp. 57.12% 56.97% 54.17% 50.77% 52.74%

Based on: 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).

1 2023 Calculation
Gross profit margin = 100 × Gross profit ÷ Net revenues
= 100 × 9,846,200 ÷ 35,975,600 = 27.37%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Starbucks Corp. gross profit margin ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.

Operating Profit Margin

Starbucks Corp., operating profit margin calculation, comparison to benchmarks

Microsoft Excel
Oct 1, 2023 Oct 2, 2022 Oct 3, 2021 Sep 27, 2020 Sep 29, 2019 Sep 30, 2018
Selected Financial Data (US$ in thousands)
Operating income 5,870,800 4,617,800 4,872,100 1,561,700 4,077,900 3,883,300
Net revenues 35,975,600 32,250,300 29,060,600 23,518,000 26,508,600 24,719,500
Profitability Ratio
Operating profit margin1 16.32% 14.32% 16.77% 6.64% 15.38% 15.71%
Benchmarks
Operating Profit Margin, Competitors2
Airbnb Inc. 15.31% 21.45% 7.17% -106.27%
Booking Holdings Inc. 27.31% 29.85% 22.78% -9.28% 35.48%
Chipotle Mexican Grill Inc. 15.78% 13.44% 10.67% 4.85% 7.95%
McDonald’s Corp. 45.68% 40.42% 44.59% 38.13% 43.03%
Operating Profit Margin, Sector
Consumer Services 25.75% 24.62% 24.69% 8.41% 27.75%
Operating Profit Margin, Industry
Consumer Discretionary 9.06% 8.41% 8.73% 6.40% 7.48%

Based on: 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).

1 2023 Calculation
Operating profit margin = 100 × Operating income ÷ Net revenues
= 100 × 5,870,800 ÷ 35,975,600 = 16.32%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Starbucks Corp. operating profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.

Net Profit Margin

Starbucks Corp., net profit margin calculation, comparison to benchmarks

Microsoft Excel
Oct 1, 2023 Oct 2, 2022 Oct 3, 2021 Sep 27, 2020 Sep 29, 2019 Sep 30, 2018
Selected Financial Data (US$ in thousands)
Net earnings attributable to Starbucks 4,124,500 3,281,600 4,199,300 928,300 3,599,200 4,518,300
Net revenues 35,975,600 32,250,300 29,060,600 23,518,000 26,508,600 24,719,500
Profitability Ratio
Net profit margin1 11.46% 10.18% 14.45% 3.95% 13.58% 18.28%
Benchmarks
Net Profit Margin, Competitors2
Airbnb Inc. 48.32% 22.54% -5.88% -135.71%
Booking Holdings Inc. 20.07% 17.89% 10.63% 0.87% 32.29%
Chipotle Mexican Grill Inc. 12.45% 10.41% 8.65% 5.94% 6.27%
McDonald’s Corp. 33.22% 26.65% 32.49% 24.63% 28.59%
Net Profit Margin, Sector
Consumer Services 22.32% 17.09% 17.21% 2.53% 21.75%
Net Profit Margin, Industry
Consumer Discretionary 7.87% 5.09% 9.14% 5.16% 5.80%

Based on: 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).

1 2023 Calculation
Net profit margin = 100 × Net earnings attributable to Starbucks ÷ Net revenues
= 100 × 4,124,500 ÷ 35,975,600 = 11.46%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Starbucks Corp. net profit margin ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.

Return on Equity (ROE)

Starbucks Corp., ROE calculation, comparison to benchmarks

Microsoft Excel
Oct 1, 2023 Oct 2, 2022 Oct 3, 2021 Sep 27, 2020 Sep 29, 2019 Sep 30, 2018
Selected Financial Data (US$ in thousands)
Net earnings attributable to Starbucks 4,124,500 3,281,600 4,199,300 928,300 3,599,200 4,518,300
Shareholders’ equity (deficit) (7,994,800) (8,706,600) (5,321,200) (7,805,100) (6,232,200) 1,169,500
Profitability Ratio
ROE1 386.34%
Benchmarks
ROE, Competitors2
Airbnb Inc. 58.69% 34.05% -7.37% -158.00%
Booking Holdings Inc. 109.92% 18.86% 1.21% 82.00%
Chipotle Mexican Grill Inc. 40.13% 37.97% 28.42% 17.61% 20.81%
McDonald’s Corp.
ROE, Sector
Consumer Services 396.84%
ROE, Industry
Consumer Discretionary 30.42% 21.42% 34.25% 24.98% 33.88%

Based on: 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).

1 2023 Calculation
ROE = 100 × Net earnings attributable to Starbucks ÷ Shareholders’ equity (deficit)
= 100 × 4,124,500 ÷ -7,994,800 =

2 Click competitor name to see calculations.


Return on Assets (ROA)

Starbucks Corp., ROA calculation, comparison to benchmarks

Microsoft Excel
Oct 1, 2023 Oct 2, 2022 Oct 3, 2021 Sep 27, 2020 Sep 29, 2019 Sep 30, 2018
Selected Financial Data (US$ in thousands)
Net earnings attributable to Starbucks 4,124,500 3,281,600 4,199,300 928,300 3,599,200 4,518,300
Total assets 29,445,500 27,978,400 31,392,600 29,374,500 19,219,600 24,156,400
Profitability Ratio
ROA1 14.01% 11.73% 13.38% 3.16% 18.73% 18.70%
Benchmarks
ROA, Competitors2
Airbnb Inc. 23.21% 11.80% -2.57% -43.70%
Booking Holdings Inc. 17.62% 12.06% 4.93% 0.27% 22.73%
Chipotle Mexican Grill Inc. 15.27% 12.98% 9.81% 5.95% 6.86%
McDonald’s Corp. 15.08% 12.25% 14.01% 8.99% 12.68%
ROA, Sector
Consumer Services 16.52% 12.08% 10.22% 1.24% 15.92%
ROA, Industry
Consumer Discretionary 7.62% 4.90% 8.03% 4.37% 5.48%

Based on: 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).

1 2023 Calculation
ROA = 100 × Net earnings attributable to Starbucks ÷ Total assets
= 100 × 4,124,500 ÷ 29,445,500 = 14.01%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. Starbucks Corp. ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.