Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
EV to EBITDA Ratio, Current
EV to EBITDA Ratio, Historical

Starbucks Corp., EBITDA calculation

US$ in thousands

12 months ended:	Oct 2, 2022	Oct 3, 2021	Sep 27, 2020	Sep 29, 2019	Sep 30, 2018	Oct 1, 2017
Net earnings attributable to Starbucks	3,281,600)	4,199,300)	928,300)	3,599,200)	4,518,300)	2,884,700)
Add: Net income attributable to noncontrolling interest	1,800)	1,000)	(3,600)	(4,600)	(300)	200)
Add: Income tax expense	948,500)	1,156,600)	239,700)	871,600)	1,262,000)	1,432,600)
Earnings before tax (EBT)	4,231,900)	5,356,900)	1,164,400)	4,466,200)	5,780,000)	4,317,500)
Add: Interest expense	482,900)	469,800)	437,000)	331,000)	170,300)	92,500)
Earnings before interest and tax (EBIT)	4,714,800)	5,826,700)	1,601,400)	4,797,200)	5,950,300)	4,410,000)
Add: Depreciation and amortization	1,529,400)	1,524,100)	1,503,200)	1,449,300)	1,305,900)	1,067,100)
Earnings before interest, tax, depreciation and amortization (EBITDA)	6,244,200)	7,350,800)	3,104,600)	6,246,500)	7,256,200)	5,477,100)

Based on: 10-K (reporting date: 2022-10-02), 10-K (reporting date: 2021-10-03), 10-K (reporting date: 2020-09-27), 10-K (reporting date: 2019-09-29), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-10-01).

Item	Description	The company
EBITDA	To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital.	Starbucks Corp. EBITDA increased from 2020 to 2021 but then slightly decreased from 2021 to 2022.

Starbucks Corp., current EV/EBITDA calculation, comparison to benchmarks

Selected Financial Data (US$ in thousands)
Enterprise value (EV)	131,370,506)
Earnings before interest, tax, depreciation and amortization (EBITDA)	6,244,200)
Valuation Ratio
EV/EBITDA	21.04
Benchmarks
EV/EBITDA, Competitors¹
Carnival Corp. & plc	—
McDonald’s Corp.	21.82
EV/EBITDA, Sector
Consumer Services	27.49
EV/EBITDA, Industry
Consumer Discretionary	19.34

Based on: 10-K (reporting date: 2022-10-02).

¹ Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.

Starbucks Corp., historical EV/EBITDA calculation, comparison to benchmarks

	Oct 2, 2022	Oct 3, 2021	Sep 27, 2020	Sep 29, 2019	Sep 30, 2018	Oct 1, 2017
Selected Financial Data (US$ in thousands)
Enterprise value (EV)¹	124,120,910)	137,971,696)	121,059,261)	107,863,110)	85,067,896)	82,248,604)
Earnings before interest, tax, depreciation and amortization (EBITDA)²	6,244,200)	7,350,800)	3,104,600)	6,246,500)	7,256,200)	5,477,100)
Valuation Ratio
EV/EBITDA³	19.88	18.77	38.99	17.27	11.72	15.02
Benchmarks
EV/EBITDA, Competitors⁴
Carnival Corp. & plc	—	—	—	8.11	9.21	13.22
McDonald’s Corp.	20.75	17.49	21.03	17.65	16.58	—
EV/EBITDA, Sector
Consumer Services	26.30	28.71	68.84	15.24	13.30	—
EV/EBITDA, Industry
Consumer Discretionary	19.02	20.44	28.14	16.88	14.84	—

Based on: 10-K (reporting date: 2022-10-02), 10-K (reporting date: 2021-10-03), 10-K (reporting date: 2020-09-27), 10-K (reporting date: 2019-09-29), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-10-01).

¹ See details »

² See details »

³ 2022 Calculation
EV/EBITDA = EV ÷ EBITDA
= 124,120,910 ÷ 6,244,200 = 19.88

⁴ Click competitor name to see calculations.

Valuation ratio	Description	The company
EV/EBITDA	Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock.	Starbucks Corp. EV/EBITDA ratio decreased from 2020 to 2021 but then slightly increased from 2021 to 2022.

Starbucks Corp. (NASDAQ:SBUX)

Enterprise Value to EBITDA (EV/EBITDA)

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Enterprise Value to EBITDA Ratio, Current

Enterprise Value to EBITDA Ratio, Historical