Stock Analysis on Net
Stock Analysis on Net

Starbucks Corp. (NASDAQ:SBUX)

Analysis of Short-term (Operating) Activity Ratios
Quarterly Data

Beginner level


Short-term Activity Ratios (Summary)

Starbucks Corp., short-term (operating) activity ratios (quarterly data)

Microsoft Excel LibreOffice Calc
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 Sep 28, 2014 Jun 29, 2014 Mar 30, 2014 Dec 29, 2013
Turnover Ratios
Inventory turnover 3.84 4.96 5.68 5.58 7.10 7.29 7.70 7.26 7.15 6.99 7.04 6.63 6.59 6.61 7.07 6.17 6.22 6.29 6.42 5.96 6.46 6.87 6.93 6.29
Receivables turnover 27.31 28.33 29.70 30.15 32.97 36.32 35.04 35.67 28.21 26.98 26.68 25.72 28.31 27.78 25.06 27.73 27.46 27.11 25.82 26.65 27.39 27.00 25.58 26.07
Payables turnover 7.06 7.42 7.37 7.17 9.40 9.59 9.48 8.63 10.78 11.06 10.85 11.55 12.73 12.74 13.01 11.65 12.19 12.27 12.32 11.38 12.48 12.12 12.88 12.85
Working capital turnover 14.17 11.24 3.63 758.31 49.93 536.03 21.07 15.11 23.91 99.02 99.79 33.58 64.15 27.41 25.90 24.44 17.21 14.56
Average No. Days
Average inventory processing period 95 74 64 65 51 50 47 50 51 52 52 55 55 55 52 59 59 58 57 61 57 53 53 58
Add: Average receivable collection period 13 13 12 12 11 10 10 10 13 14 14 14 13 13 15 13 13 13 14 14 13 14 14 14
Operating cycle 108 87 76 77 62 60 57 60 64 66 66 69 68 68 67 72 72 71 71 75 70 67 67 72
Less: Average payables payment period 52 49 50 51 39 38 39 42 34 33 34 32 29 29 28 31 30 30 30 32 29 30 28 28
Cash conversion cycle 56 38 26 26 23 22 18 18 30 33 32 37 39 39 39 41 42 41 41 43 41 37 39 44

Based on: 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), 10-K (filing date: 2014-11-14), 10-Q (filing date: 2014-07-29), 10-Q (filing date: 2014-04-29), 10-Q (filing date: 2014-01-28).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Starbucks Corp.’s inventory turnover ratio deteriorated from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
Receivables turnover An activity ratio equal to revenue divided by receivables. Starbucks Corp.’s receivables turnover ratio deteriorated from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Starbucks Corp.’s payables turnover ratio increased from Q1 2020 to Q2 2020 but then decreased significantly from Q2 2020 to Q3 2020.
Working capital turnover An activity ratio calculated as revenue divided by working capital.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Starbucks Corp.’s number of days of inventory outstanding deteriorated from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Starbucks Corp.’s operating cycle deteriorated from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Starbucks Corp.’s number of days of payables outstanding decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Starbucks Corp.’s cash conversion cycle deteriorated from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Inventory Turnover

Starbucks Corp., inventory turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Sep 28, 2014 Jun 29, 2014 Mar 30, 2014 Dec 29, 2013
Selected Financial Data (US$ in thousands)
Product and distribution costs 1,484,000  1,997,700  2,236,400  355,800  2,808,600  2,603,800  2,758,700  2,600,700  2,554,900  2,516,000  2,502,900  2,352,900  2,249,100  2,141,200  2,295,000  2,254,300  2,060,300  2,010,300  2,186,200  1,982,600  1,953,900  1,859,800  1,991,200  1,723,000  1,711,500  1,629,200  1,795,100 
Inventories 1,583,800  1,492,200  1,408,700  1,529,400  1,517,200  1,443,000  1,354,600  1,400,500  1,387,400  1,375,900  1,313,200  1,364,000  1,357,300  1,323,600  1,218,700  1,378,500  1,325,100  1,293,100  1,242,600  1,306,400  1,166,000  1,061,100  1,018,300  1,090,900  1,025,800  954,700  943,300 
Short-term Activity Ratio
Inventory turnover1 3.84 4.96 5.68 5.58 7.10 7.29 7.70 7.26 7.15 6.99 7.04 6.63 6.59 6.61 7.07 6.17 6.22 6.29 6.42 5.96 6.46 6.87 6.93 6.29
Benchmarks
Inventory Turnover, Competitors2
McDonald’s Corp. 166.87 195.07 154.59 182.57 177.78 196.60 161.76 203.33 180.47 180.75 177.03 207.30 211.55 217.25 215.60 144.55 153.89 147.26 139.63

Based on: 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), 10-K (filing date: 2014-11-14), 10-Q (filing date: 2014-07-29), 10-Q (filing date: 2014-04-29), 10-Q (filing date: 2014-01-28).

1 Q3 2020 Calculation
Inventory turnover = (Product and distribution costsQ3 2020 + Product and distribution costsQ2 2020 + Product and distribution costsQ1 2020 + Product and distribution costsQ4 2019) ÷ Inventories
= (1,484,000 + 1,997,700 + 2,236,400 + 355,800) ÷ 1,583,800 = 3.84

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Starbucks Corp.’s inventory turnover ratio deteriorated from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Receivables Turnover

Starbucks Corp., receivables turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Sep 28, 2014 Jun 29, 2014 Mar 30, 2014 Dec 29, 2013
Selected Financial Data (US$ in thousands)
Net revenues 4,222,100  5,995,700  7,097,100  6,747,000  6,823,000  6,305,900  6,632,700  6,303,700  6,310,300  6,031,800  6,073,700  5,698,400  5,661,500  5,294,000  5,732,900  5,711,200  5,238,000  4,993,200  5,373,500  4,914,800  4,881,200  4,563,500  4,803,200  4,180,700  4,153,700  3,873,800  4,239,600 
Accounts receivable, net 881,100  941,000  908,100  879,200  790,600  703,600  721,400  693,100  854,800  869,600  851,800  870,400  791,100  791,000  865,100  768,800  747,300  743,700  764,400  719,000  672,700  655,600  664,900  631,000  580,900  590,000  589,800 
Short-term Activity Ratio
Receivables turnover1 27.31 28.33 29.70 30.15 32.97 36.32 35.04 35.67 28.21 26.98 26.68 25.72 28.31 27.78 25.06 27.73 27.46 27.11 25.82 26.65 27.39 27.00 25.58 26.07
Benchmarks
Receivables Turnover, Competitors2
Booking Holdings Inc. 19.96 21.76 8.97 8.36 7.48 9.68 9.54 8.21 7.99 8.62 10.41 8.50 9.33 11.79 12.49 9.41 9.98 11.12 14.30
McDonald’s Corp. 2.94 5.43 4.24 4.70 4.63 4.88 4.10 4.55 4.90 6.07 6.44 8.73 10.02 11.19 10.38 11.61 12.61 14.05 12.70

Based on: 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), 10-K (filing date: 2014-11-14), 10-Q (filing date: 2014-07-29), 10-Q (filing date: 2014-04-29), 10-Q (filing date: 2014-01-28).

1 Q3 2020 Calculation
Receivables turnover = (Net revenuesQ3 2020 + Net revenuesQ2 2020 + Net revenuesQ1 2020 + Net revenuesQ4 2019) ÷ Accounts receivable, net
= (4,222,100 + 5,995,700 + 7,097,100 + 6,747,000) ÷ 881,100 = 27.31

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Starbucks Corp.’s receivables turnover ratio deteriorated from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Payables Turnover

Starbucks Corp., payables turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Sep 28, 2014 Jun 29, 2014 Mar 30, 2014 Dec 29, 2013
Selected Financial Data (US$ in thousands)
Product and distribution costs 1,484,000  1,997,700  2,236,400  355,800  2,808,600  2,603,800  2,758,700  2,600,700  2,554,900  2,516,000  2,502,900  2,352,900  2,249,100  2,141,200  2,295,000  2,254,300  2,060,300  2,010,300  2,186,200  1,982,600  1,953,900  1,859,800  1,991,200  1,723,000  1,711,500  1,629,200  1,795,100 
Accounts payable 860,800  997,700  1,085,600  1,189,700  1,145,400  1,096,700  1,100,500  1,179,300  921,100  869,700  852,100  782,500  702,200  686,900  662,500  730,600  675,700  662,700  648,000  684,200  603,200  601,300  547,700  533,700  474,500  472,600  444,200 
Short-term Activity Ratio
Payables turnover1 7.06 7.42 7.37 7.17 9.40 9.59 9.48 8.63 10.78 11.06 10.85 11.55 12.73 12.74 13.01 11.65 12.19 12.27 12.32 11.38 12.48 12.12 12.88 12.85
Benchmarks
Payables Turnover, Competitors2
Booking Holdings Inc. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.03 0.09 0.20 0.38 0.36 0.55 0.94 1.02 0.96 1.23 1.77 1.96
McDonald’s Corp. 13.20 11.35 7.85 9.16 9.86 9.74 6.84 9.13 9.75 12.47 11.26 16.40 22.38 18.19 16.80 15.35 23.41 21.08 15.98

Based on: 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), 10-K (filing date: 2014-11-14), 10-Q (filing date: 2014-07-29), 10-Q (filing date: 2014-04-29), 10-Q (filing date: 2014-01-28).

1 Q3 2020 Calculation
Payables turnover = (Product and distribution costsQ3 2020 + Product and distribution costsQ2 2020 + Product and distribution costsQ1 2020 + Product and distribution costsQ4 2019) ÷ Accounts payable
= (1,484,000 + 1,997,700 + 2,236,400 + 355,800) ÷ 860,800 = 7.06

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Starbucks Corp.’s payables turnover ratio increased from Q1 2020 to Q2 2020 but then decreased significantly from Q2 2020 to Q3 2020.

Working Capital Turnover

Starbucks Corp., working capital turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Sep 28, 2014 Jun 29, 2014 Mar 30, 2014 Dec 29, 2013
Selected Financial Data (US$ in thousands)
Current assets 7,581,000  5,749,900  5,899,700  5,653,900  7,734,800  4,952,300  7,676,300  12,494,200  5,583,400  5,657,000  6,883,500  5,283,400  5,509,300  4,919,400  4,616,200  4,760,500  4,856,200  3,883,500  4,727,700  4,352,700  4,760,700  4,245,400  4,546,100  4,168,700  3,356,900  3,579,000  3,759,400 
Less: Current liabilities 8,002,000  8,265,800  8,675,500  6,168,700  5,895,800  5,273,400  5,427,500  5,684,200  5,551,600  5,187,000  6,841,100  4,220,700  4,026,500  4,000,100  4,397,300  4,546,900  4,245,200  4,351,200  4,420,100  3,653,500  4,049,200  3,521,200  3,557,500  3,038,700  2,883,900  2,733,500  2,953,000 
Working capital (421,000) (2,515,900) (2,775,800) (514,800) 1,839,000  (321,100) 2,248,800  6,810,000  31,800  470,000  42,400  1,062,700  1,482,800  919,300  218,900  213,600  611,000  (467,700) 307,600  699,200  711,500  724,200  988,600  1,130,000  473,000  845,500  806,400 
 
Net revenues 4,222,100  5,995,700  7,097,100  6,747,000  6,823,000  6,305,900  6,632,700  6,303,700  6,310,300  6,031,800  6,073,700  5,698,400  5,661,500  5,294,000  5,732,900  5,711,200  5,238,000  4,993,200  5,373,500  4,914,800  4,881,200  4,563,500  4,803,200  4,180,700  4,153,700  3,873,800  4,239,600 
Short-term Activity Ratio
Working capital turnover1 14.17 11.24 3.63 758.31 49.93 536.03 21.07 15.11 23.91 99.02 99.79 33.58 64.15 27.41 25.90 24.44 17.21 14.56
Benchmarks
Working Capital Turnover, Competitors2
Booking Holdings Inc. 1.50 2.83 3.37 3.30 4.02 9.62 2.99 2.55 2.85 2.61 2.29 2.22 2.54 2.95 4.22 3.55 2.65 3.31 4.36
McDonald’s Corp. 2.58 14.10 6.13 9.27 5.35 7.85 5.67 5.22 13.05 4.64 5.57 11.08 6.72 7.45 2.46

Based on: 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), 10-K (filing date: 2014-11-14), 10-Q (filing date: 2014-07-29), 10-Q (filing date: 2014-04-29), 10-Q (filing date: 2014-01-28).

1 Q3 2020 Calculation
Working capital turnover = (Net revenuesQ3 2020 + Net revenuesQ2 2020 + Net revenuesQ1 2020 + Net revenuesQ4 2019) ÷ Working capital
= (4,222,100 + 5,995,700 + 7,097,100 + 6,747,000) ÷ -421,000 =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital.

Average Inventory Processing Period

Starbucks Corp., average inventory processing period calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Sep 28, 2014 Jun 29, 2014 Mar 30, 2014 Dec 29, 2013
Selected Financial Data
Inventory turnover 3.84 4.96 5.68 5.58 7.10 7.29 7.70 7.26 7.15 6.99 7.04 6.63 6.59 6.61 7.07 6.17 6.22 6.29 6.42 5.96 6.46 6.87 6.93 6.29
Short-term Activity Ratio (no. days)
Average inventory processing period1 95 74 64 65 51 50 47 50 51 52 52 55 55 55 52 59 59 58 57 61 57 53 53 58
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
McDonald’s Corp. 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 3 2 2 3

Based on: 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), 10-K (filing date: 2014-11-14), 10-Q (filing date: 2014-07-29), 10-Q (filing date: 2014-04-29), 10-Q (filing date: 2014-01-28).

1 Q3 2020 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 3.84 = 95

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Starbucks Corp.’s number of days of inventory outstanding deteriorated from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Average Receivable Collection Period

Starbucks Corp., average receivable collection period calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Sep 28, 2014 Jun 29, 2014 Mar 30, 2014 Dec 29, 2013
Selected Financial Data
Receivables turnover 27.31 28.33 29.70 30.15 32.97 36.32 35.04 35.67 28.21 26.98 26.68 25.72 28.31 27.78 25.06 27.73 27.46 27.11 25.82 26.65 27.39 27.00 25.58 26.07
Short-term Activity Ratio (no. days)
Average receivable collection period1 13 13 12 12 11 10 10 10 13 14 14 14 13 13 15 13 13 13 14 14 13 14 14 14
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Booking Holdings Inc. 18 17 41 44 49 38 38 44 46 42 35 43 39 31 29 39 37 33 26
McDonald’s Corp. 124 67 86 78 79 75 89 80 74 60 57 42 36 33 35 31 29 26 29

Based on: 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), 10-K (filing date: 2014-11-14), 10-Q (filing date: 2014-07-29), 10-Q (filing date: 2014-04-29), 10-Q (filing date: 2014-01-28).

1 Q3 2020 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 27.31 = 13

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover.

Operating Cycle

Starbucks Corp., operating cycle calculation (quarterly data)

No. days

Microsoft Excel LibreOffice Calc
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 Sep 28, 2014 Jun 29, 2014 Mar 30, 2014 Dec 29, 2013
Selected Financial Data
Average inventory processing period 95 74 64 65 51 50 47 50 51 52 52 55 55 55 52 59 59 58 57 61 57 53 53 58
Average receivable collection period 13 13 12 12 11 10 10 10 13 14 14 14 13 13 15 13 13 13 14 14 13 14 14 14
Short-term Activity Ratio
Operating cycle1 108 87 76 77 62 60 57 60 64 66 66 69 68 68 67 72 72 71 71 75 70 67 67 72
Benchmarks
Operating Cycle, Competitors2
McDonald’s Corp. 126 69 88 80 81 77 91 82 76 62 59 44 38 35 37 34 31 28 32

Based on: 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), 10-K (filing date: 2014-11-14), 10-Q (filing date: 2014-07-29), 10-Q (filing date: 2014-04-29), 10-Q (filing date: 2014-01-28).

1 Q3 2020 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 95 + 13 = 108

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period. Starbucks Corp.’s operating cycle deteriorated from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Average Payables Payment Period

Starbucks Corp., average payables payment period calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Sep 28, 2014 Jun 29, 2014 Mar 30, 2014 Dec 29, 2013
Selected Financial Data
Payables turnover 7.06 7.42 7.37 7.17 9.40 9.59 9.48 8.63 10.78 11.06 10.85 11.55 12.73 12.74 13.01 11.65 12.19 12.27 12.32 11.38 12.48 12.12 12.88 12.85
Short-term Activity Ratio (no. days)
Average payables payment period1 52 49 50 51 39 38 39 42 34 33 34 32 29 29 28 31 30 30 30 32 29 30 28 28
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Booking Holdings Inc. 12,933 4,151 1,857 972 1,016 659 387 357 379 297 206 186
McDonald’s Corp. 28 32 46 40 37 37 53 40 37 29 32 22 16 20 22 24 16 17 23

Based on: 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), 10-K (filing date: 2014-11-14), 10-Q (filing date: 2014-07-29), 10-Q (filing date: 2014-04-29), 10-Q (filing date: 2014-01-28).

1 Q3 2020 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 7.06 = 52

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Starbucks Corp.’s number of days of payables outstanding decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 exceeding Q1 2020 level.

Cash Conversion Cycle

Starbucks Corp., cash conversion cycle calculation (quarterly data)

No. days

Microsoft Excel LibreOffice Calc
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 Sep 28, 2014 Jun 29, 2014 Mar 30, 2014 Dec 29, 2013
Selected Financial Data
Average inventory processing period 95 74 64 65 51 50 47 50 51 52 52 55 55 55 52 59 59 58 57 61 57 53 53 58
Average receivable collection period 13 13 12 12 11 10 10 10 13 14 14 14 13 13 15 13 13 13 14 14 13 14 14 14
Average payables payment period 52 49 50 51 39 38 39 42 34 33 34 32 29 29 28 31 30 30 30 32 29 30 28 28
Short-term Activity Ratio
Cash conversion cycle1 56 38 26 26 23 22 18 18 30 33 32 37 39 39 39 41 42 41 41 43 41 37 39 44
Benchmarks
Cash Conversion Cycle, Competitors2
McDonald’s Corp. 98 37 42 40 44 40 38 42 39 33 27 22 22 15 15 10 15 11 9

Based on: 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), 10-K (filing date: 2014-11-14), 10-Q (filing date: 2014-07-29), 10-Q (filing date: 2014-04-29), 10-Q (filing date: 2014-01-28).

1 Q3 2020 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 95 + 1352 = 56

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Starbucks Corp.’s cash conversion cycle deteriorated from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.