Starbucks Corp. (SBUX)


Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

Difficulty: Beginner


Historical Valuation Ratios (Summary)

Starbucks Corp., historical price multiples (quarterly data)

Microsoft Excel LibreOffice Calc
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 Sep 29, 2013 Jun 30, 2013 Mar 31, 2013 Dec 30, 2012
Price to earnings (P/E) 27.53 18.71 15.53 18.27 18.22 28.08 27.28 29.60 27.93 28.81 31.78 33.26 35.19 32.88 31.50 29.45 26.38 28.27 238.07 346.66 478.26 7,312.64
Price to operating profit (P/OP) 22.04 21.78 17.90 20.28 19.39 19.59 18.21 20.29 18.95 19.46 21.68 22.08 23.14 25.18 24.32 22.90 20.81 18.97 533.30
Price to sales (P/S) 3.30 3.42 2.93 3.42 3.51 3.62 3.53 3.99 3.71 3.81 4.13 4.19 4.39 4.73 4.60 4.29 3.89 3.55 3.68 3.40 3.64 4.08
Price to book value (P/BV) 72.30 17.71 17.03 13.88 14.86 13.52 15.63 13.88 13.79 14.83 16.60 14.48 15.59 14.48 12.64 11.47 11.09 11.66 10.75 11.43 13.55 9.41 8.56 8.06

Based on: 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), 10-K (filing date: 2013-11-18), 10-Q (filing date: 2013-07-30), 10-Q (filing date: 2013-04-30), 10-Q (filing date: 2013-01-29).

Ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Starbucks Corp.’s P/E ratio increased from Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Starbucks Corp.’s P/OP ratio increased from Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Starbucks Corp.’s P/S ratio increased from Q3 2018 to Q4 2018 but then slightly declined from Q4 2018 to Q1 2019.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return. Starbucks Corp.’s P/BV ratio increased from Q3 2018 to Q4 2018 but then declined significantly from Q4 2018 to Q1 2019.

Price to Earnings (P/E)

Starbucks Corp., historical P/E calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Sep 29, 2013 Jun 30, 2013 Mar 31, 2013 Dec 30, 2012
No. shares of common stock outstanding1 1,243,600,000 1,240,600,000 1,349,100,000 1,380,000,000 1,405,600,000 1,422,800,000 1,443,900,000 1,448,100,000 1,457,400,000 1,455,400,000 1,466,600,000 1,464,900,000 1,478,100,000 1,484,800,000 1,484,200,000 1,500,500,000 1,499,600,000 1,496,600,000 1,502,400,000 1,505,600,000 1,511,800,000 1,507,200,000 1,502,800,000 1,497,400,000 1,498,600,000
Selected Financial Data (USD $)
Net earnings attributable to Starbucks (in thousands) 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  587,800  512,600  427,000  540,700  (1,232,100) 417,800  390,400  432,200 
Earnings per share (EPS)3 2.44 3.64 3.37 3.18 3.12 2.03 2.01 2.04 1.98 1.94 1.82 1.74 1.67 1.86 1.81 1.72 1.67 1.38 0.17 0.10 0.08 0.01 0.00 0.00 0.00
Share price1, 2 67.04 68.16 52.39 58.13 56.81 56.93 54.73 60.50 55.22 55.77 57.85 57.72 58.61 61.07 57.14 50.61 44.17 39.06 39.33 35.32 36.95 40.27 35.97 30.42 27.80
P/E ratio4 27.53 18.71 15.53 18.27 18.22 28.08 27.28 29.60 27.93 28.81 31.78 33.26 35.19 32.88 31.50 29.45 26.38 28.27 238.07 346.66 478.26 7,312.64

Based on: 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), 10-K (filing date: 2013-11-18), 10-Q (filing date: 2013-07-30), 10-Q (filing date: 2013-04-30), 10-Q (filing date: 2013-01-29).

1 Data adjusted for splits and stock dividends.

2 Close price on the filing date of Starbucks Corp.’s Quarterly or Annual Report.

Q1 2019 Calculations

3 EPS = (Net earnings attributable to StarbucksQ1 2019 + Net earnings attributable to StarbucksQ4 2018 + Net earnings attributable to StarbucksQ3 2018 + Net earnings attributable to StarbucksQ2 2018) ÷ No. shares of common stock outstanding
= (760,600,000 + 755,500,000 + 852,500,000 + 660,100,000) ÷ 1,243,600,000 = 2.44

4 P/E ratio = Share price ÷ EPS
= 67.04 ÷ 2.44 = 27.53

Ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Starbucks Corp.’s P/E ratio increased from Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.

Price to Operating Profit (P/OP)

Starbucks Corp., historical P/OP calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Sep 29, 2013 Jun 30, 2013 Mar 31, 2013 Dec 30, 2012
No. shares of common stock outstanding1 1,243,600,000 1,240,600,000 1,349,100,000 1,380,000,000 1,405,600,000 1,422,800,000 1,443,900,000 1,448,100,000 1,457,400,000 1,455,400,000 1,466,600,000 1,464,900,000 1,478,100,000 1,484,800,000 1,484,200,000 1,500,500,000 1,499,600,000 1,496,600,000 1,502,400,000 1,505,600,000 1,511,800,000 1,507,200,000 1,502,800,000 1,497,400,000 1,498,600,000
Selected Financial Data (USD $)
Operating income (loss) (in thousands) 1,015,700  956,500  1,038,200  772,500  1,116,100  1,022,500  1,044,200  935,400  1,132,600  1,227,400  1,022,300  864,200  1,058,000  969,400  938,600  777,500  915,500  855,000  768,500  644,100  813,500  (2,115,300) 615,200  544,100  630,600 
Operating profit per share3 3.04 3.13 2.93 2.87 2.93 2.91 3.01 2.98 2.91 2.87 2.67 2.61 2.53 2.43 2.35 2.21 2.12 2.06 0.07 -0.03 -0.09 -0.22 0.00 0.00 0.00
Share price1, 2 67.04 68.16 52.39 58.13 56.81 56.93 54.73 60.50 55.22 55.77 57.85 57.72 58.61 61.07 57.14 50.61 44.17 39.06 39.33 35.32 36.95 40.27 35.97 30.42 27.80
P/OP ratio4 22.04 21.78 17.90 20.28 19.39 19.59 18.21 20.29 18.95 19.46 21.68 22.08 23.14 25.18 24.32 22.90 20.81 18.97 533.30

Based on: 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), 10-K (filing date: 2013-11-18), 10-Q (filing date: 2013-07-30), 10-Q (filing date: 2013-04-30), 10-Q (filing date: 2013-01-29).

1 Data adjusted for splits and stock dividends.

2 Close price on the filing date of Starbucks Corp.’s Quarterly or Annual Report.

Q1 2019 Calculations

3 Operating profit per share = (Operating income (loss)Q1 2019 + Operating income (loss)Q4 2018 + Operating income (loss)Q3 2018 + Operating income (loss)Q2 2018) ÷ No. shares of common stock outstanding
= (1,015,700,000 + 956,500,000 + 1,038,200,000 + 772,500,000) ÷ 1,243,600,000 = 3.04

4 P/OP ratio = Share price ÷ Operating profit per share
= 67.04 ÷ 3.04 = 22.04

Ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Starbucks Corp.’s P/OP ratio increased from Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.

Price to Sales (P/S)

Starbucks Corp., historical P/S calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Sep 29, 2013 Jun 30, 2013 Mar 31, 2013 Dec 30, 2012
No. shares of common stock outstanding1 1,243,600,000 1,240,600,000 1,349,100,000 1,380,000,000 1,405,600,000 1,422,800,000 1,443,900,000 1,448,100,000 1,457,400,000 1,455,400,000 1,466,600,000 1,464,900,000 1,478,100,000 1,484,800,000 1,484,200,000 1,500,500,000 1,499,600,000 1,496,600,000 1,502,400,000 1,505,600,000 1,511,800,000 1,507,200,000 1,502,800,000 1,497,400,000 1,498,600,000
Selected Financial Data (USD $)
Net revenues (in thousands) 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  3,795,000  3,741,700  3,555,900  3,799,600 
Sales per share3 20.33 19.93 17.87 17.00 16.17 15.73 15.51 15.18 14.87 14.65 13.99 13.76 13.35 12.91 12.42 11.80 11.34 10.99 10.69 10.39 10.14 9.88 0.00 0.00 0.00
Share price1, 2 67.04 68.16 52.39 58.13 56.81 56.93 54.73 60.50 55.22 55.77 57.85 57.72 58.61 61.07 57.14 50.61 44.17 39.06 39.33 35.32 36.95 40.27 35.97 30.42 27.80
P/S ratio4 3.30 3.42 2.93 3.42 3.51 3.62 3.53 3.99 3.71 3.81 4.13 4.19 4.39 4.73 4.60 4.29 3.89 3.55 3.68 3.40 3.64 4.08

Based on: 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), 10-K (filing date: 2013-11-18), 10-Q (filing date: 2013-07-30), 10-Q (filing date: 2013-04-30), 10-Q (filing date: 2013-01-29).

1 Data adjusted for splits and stock dividends.

2 Close price on the filing date of Starbucks Corp.’s Quarterly or Annual Report.

Q1 2019 Calculations

3 Sales per share = (Net revenuesQ1 2019 + Net revenuesQ4 2018 + Net revenuesQ3 2018 + Net revenuesQ2 2018) ÷ No. shares of common stock outstanding
= (6,632,700,000 + 6,303,700,000 + 6,310,300,000 + 6,031,800,000) ÷ 1,243,600,000 = 20.33

4 P/S ratio = Share price ÷ Sales per share
= 67.04 ÷ 20.33 = 3.30

Ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Starbucks Corp.’s P/S ratio increased from Q3 2018 to Q4 2018 but then slightly declined from Q4 2018 to Q1 2019.

Price to Book Value (P/BV)

Starbucks Corp., historical P/BV calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Sep 29, 2013 Jun 30, 2013 Mar 31, 2013 Dec 30, 2012
No. shares of common stock outstanding1 1,243,600,000 1,240,600,000 1,349,100,000 1,380,000,000 1,405,600,000 1,422,800,000 1,443,900,000 1,448,100,000 1,457,400,000 1,455,400,000 1,466,600,000 1,464,900,000 1,478,100,000 1,484,800,000 1,484,200,000 1,500,500,000 1,499,600,000 1,496,600,000 1,502,400,000 1,505,600,000 1,511,800,000 1,507,200,000 1,502,800,000 1,497,400,000 1,498,600,000
Selected Financial Data (USD $)
Shareholders’ equity (in thousands) (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  5,272,000  5,068,800  4,945,100  4,887,400  4,480,200  5,741,500  5,321,400  5,169,300 
Book value per share (BVPS)3 -2.32 0.94 2.96 3.41 4.09 3.83 4.05 3.87 3.98 4.04 3.90 3.48 4.05 3.92 3.95 4.00 3.85 3.52 3.37 3.28 3.23 2.97 3.82 3.55 3.45
Share price1, 2 67.04 68.16 52.39 58.13 56.81 56.93 54.73 60.50 55.22 55.77 57.85 57.72 58.61 61.07 57.14 50.61 44.17 39.06 39.33 35.32 36.95 40.27 35.97 30.42 27.80
P/BV ratio4 72.30 17.71 17.03 13.88 14.86 13.52 15.63 13.88 13.79 14.83 16.60 14.48 15.59 14.48 12.64 11.47 11.09 11.66 10.75 11.43 13.55 9.41 8.56 8.06

Based on: 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), 10-K (filing date: 2013-11-18), 10-Q (filing date: 2013-07-30), 10-Q (filing date: 2013-04-30), 10-Q (filing date: 2013-01-29).

1 Data adjusted for splits and stock dividends.

2 Close price on the filing date of Starbucks Corp.’s Quarterly or Annual Report.

Q1 2019 Calculations

3 BVPS = Shareholders’ equity ÷ No. shares of common stock outstanding
= -2,884,900,000 ÷ 1,243,600,000 = -2.32

4 P/BV ratio = Share price ÷ BVPS
= 67.04 ÷ -2.32 =

Ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return. Starbucks Corp.’s P/BV ratio increased from Q3 2018 to Q4 2018 but then declined significantly from Q4 2018 to Q1 2019.