Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
Historical Valuation Ratios (Summary)
Starbucks Corp., historical price multiples (quarterly data)
Based on: 10-Q (reporting date: 2025-03-30), 10-Q (reporting date: 2024-12-29), 10-K (reporting date: 2024-09-29), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 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).
The financial ratios for the analyzed periods reveal several noteworthy trends and fluctuations.
- Price to Earnings (P/E) Ratio
- This ratio exhibits significant volatility across the quarters. Starting from relatively moderate levels around 27 in late 2018 and early 2019, it sharply increases to a peak exceeding 185 by the end of 2020. This spike suggests heightened market expectations or reduced earnings during that period, possibly influenced by external factors. Following the peak, the P/E ratio declines notably, reaching values near 19–23 through early 2022, indicating a normalization or improvement in earnings. From 2022 onwards, the ratio stabilizes between 24 and 37 with minor fluctuations, reflecting a more consistent valuation relative to earnings in recent quarters.
- Price to Operating Profit (P/OP) Ratio
- This ratio follows a broadly similar trajectory to the P/E ratio, signaling shifts in market valuation compared to operating profits. Initial values in late 2018 and early 2019 hover in the mid-20s, escalating sharply to nearly 100 at the end of 2020. This pattern implies a peak in valuation multiples relative to operating profits during that challenging period. Subsequently, the ratio declines, reaching a stable range near 16 to 26 throughout 2022 and 2023, suggesting a recovery in operating profit metrics and/or adjustments in market pricing. This trend of stabilization continues into the first quarter of 2025.
- Price to Sales (P/S) Ratio
- The P/S ratio demonstrates a less volatile but still meaningful variation. It remains in a narrower band, starting around 3.7 to 3.8 in 2019, experiences a moderate increase to a peak of about 5.7 by late 2020, coinciding with peaks in P/E and P/OP ratios. Post-2020, there is a gradual reduction in the ratio, falling back towards a range of 2.3 to 3.8 from 2022 through early 2025. This movement suggests more stable or improving sales figures relative to market price after the peak period, endorsing a recovery phase in sales valuation.
- Price to Book Value (P/BV) Ratio
- No data is available for this ratio across the reviewed periods, preventing any analysis or conclusions regarding the valuation relative to book value.
Overall, the data indicates a period of elevated valuation multiples during late 2020, possibly reflecting market uncertainty or changes in earnings and operating profits, followed by a steady return to more historically typical levels in subsequent years. Sales valuations experienced less dramatic shifts but followed a similar pattern of peaking and normalization. These trends collectively reflect the company's financial performance cyclicality and market perception over the recent years.
Price to Earnings (P/E)
Starbucks Corp., historical P/E calculation (quarterly data)
| Mar 30, 2025 | Dec 29, 2024 | Sep 29, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 1,136,400,000 | 1,135,900,000 | 1,133,800,000 | 1,133,200,000 | 1,132,700,000 | 1,132,200,000 | 1,136,700,000 | 1,145,400,000 | 1,146,400,000 | 1,149,300,000 | 1,147,800,000 | 1,147,400,000 | 1,146,900,000 | 1,150,300,000 | 1,173,200,000 | 1,179,100,000 | 1,178,300,000 | 1,177,300,000 | 1,173,700,000 | 1,169,000,000 | 1,168,300,000 | 1,173,700,000 | 1,181,000,000 | 1,197,000,000 | 1,211,200,000 | 1,243,600,000 | ||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||||||
| Net earnings (loss) attributable to Starbucks (in thousands) | 384,200) | 780,800) | 909,300) | 1,054,800) | 772,400) | 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) | ||||||||
| Earnings per share (EPS)2 | 2.75 | 3.10 | 3.32 | 3.59 | 3.67 | 3.79 | 3.63 | 3.30 | 3.10 | 2.89 | 2.86 | 3.63 | 3.84 | 3.82 | 3.58 | 2.40 | 0.85 | 0.56 | 0.79 | 1.14 | 2.90 | 3.17 | 3.05 | 0.00 | 0.00 | 0.00 | ||||||||
| Share price1, 3 | 84.85 | 100.41 | 98.26 | 75.94 | 88.49 | 94.08 | 105.57 | 101.26 | 114.46 | 109.15 | 97.95 | 83.71 | 74.33 | 98.76 | 110.78 | 126.03 | 116.15 | 104.69 | 93.53 | 74.64 | 78.69 | 88.60 | 84.21 | 96.65 | 77.68 | 67.04 | ||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||||||
| P/E ratio4 | 30.82 | 32.43 | 29.62 | 21.14 | 24.11 | 24.81 | 29.09 | 30.66 | 36.91 | 37.77 | 34.26 | 23.05 | 19.34 | 25.86 | 30.95 | 52.55 | 137.44 | 185.40 | 118.26 | 65.20 | 27.12 | 27.92 | 27.63 | — | — | — | ||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| P/E Ratio, Competitors5 | ||||||||||||||||||||||||||||||||||
| Airbnb Inc. | — | 30.61 | 33.58 | 50.83 | 17.28 | 20.59 | 20.59 | 14.19 | 39.65 | 40.05 | 44.53 | 36.29 | 59.77 | 96.17 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Booking Holdings Inc. | — | 29.37 | 28.00 | 29.34 | 24.42 | 24.55 | 31.09 | 18.68 | 22.74 | 23.90 | 29.87 | 28.26 | 50.57 | 164.32 | 86.68 | 261.79 | 206.85 | 136.53 | 1,696.44 | — | — | — | — | — | — | — | ||||||||
| Chipotle Mexican Grill Inc. | — | 42.75 | 50.81 | 51.16 | 49.35 | 65.94 | 58.48 | 44.26 | 47.35 | 54.42 | 49.37 | 50.59 | 55.45 | 61.35 | 67.03 | 69.94 | 87.74 | 102.77 | 122.18 | — | — | — | — | — | — | — | ||||||||
| McDonald’s Corp. | — | 27.33 | 27.00 | 25.61 | 23.42 | 22.51 | 25.23 | 23.23 | 26.39 | 31.34 | 31.22 | 34.24 | 31.53 | 25.65 | 24.15 | 25.57 | 25.43 | 33.98 | 33.31 | — | — | — | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2025-03-30), 10-Q (reporting date: 2024-12-29), 10-K (reporting date: 2024-09-29), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
EPS
= (Net earnings (loss) attributable to StarbucksQ2 2025
+ Net earnings (loss) attributable to StarbucksQ1 2025
+ Net earnings (loss) attributable to StarbucksQ4 2024
+ Net earnings (loss) attributable to StarbucksQ3 2024)
÷ No. shares of common stock outstanding
= (384,200,000 + 780,800,000 + 909,300,000 + 1,054,800,000)
÷ 1,136,400,000 = 2.75
3 Closing price as at the filing date of Starbucks Corp. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/E ratio = Share price ÷ EPS
= 84.85 ÷ 2.75 = 30.82
5 Click competitor name to see calculations.
The financial data reveals notable trends in share price, earnings per share (EPS), and the price-to-earnings (P/E) ratio over multiple quarters from late 2018 through early 2025. A detailed examination of each metric provides insights into the company's valuation and profitability dynamics during this period.
- Share Price
- The share price displays considerable volatility over the analyzed timeframe. Starting at $67.04 in December 2018, the price generally trended upward, peaking at $126.03 in June 2021. However, this peak was followed by a period of decline and fluctuations, with prices moving between approximately $74 and $110 from late 2021 through 2024. In early 2025, the share price declined again to $84.85 by the last reported quarter. This pattern suggests periods of investor optimism and correction, potentially influenced by broader market conditions or company-specific events.
- Earnings Per Share (EPS)
- EPS data starts appearing from June 2019 at $3.05 and shows an initial upward trend reaching $3.82 in January 2022. Following this peak, EPS remains relatively stable, fluctuating between approximately $2.75 and $3.79 in subsequent quarters. A noticeable dip occurs around June to September 2020, where EPS fell significantly to a low of $0.56, likely reflecting external challenges during that period. The recovery back to prior levels indicates resilience in earnings capability.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio exhibits substantial variability, reflecting changing market expectations relative to earnings. Initially around 27.6 in mid-2019, the ratio surged dramatically to a peak of over 185 in December 2020, coinciding with a trough in EPS. This elevated P/E signals heightened investor expectations or valuation despite depressed earnings during that period. Subsequently, the P/E ratio declined to more moderate levels near the high twenties and low thirties from 2021 onward, indicating a reversion toward normalized valuation consistent with stabilized earnings. Some moderate fluctuations persist, but the general downward trend from the peak suggests normalization following the prior earnings trough.
Overall, the data illustrates a cycle of earnings decline and recovery around the 2020 period, mirrored by significant swings in valuation multiples and share price. The company's earnings have generally recovered to near pre-2020 levels, while the share price and P/E ratio reflect market adjustments to changing earnings and external factors. Recent quarters indicate a period of relative stability in earnings accompanied by moderate share price fluctuations and valuation adjustments.
Price to Operating Profit (P/OP)
Starbucks Corp., historical P/OP calculation (quarterly data)
| Mar 30, 2025 | Dec 29, 2024 | Sep 29, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 1,136,400,000 | 1,135,900,000 | 1,133,800,000 | 1,133,200,000 | 1,132,700,000 | 1,132,200,000 | 1,136,700,000 | 1,145,400,000 | 1,146,400,000 | 1,149,300,000 | 1,147,800,000 | 1,147,400,000 | 1,146,900,000 | 1,150,300,000 | 1,173,200,000 | 1,179,100,000 | 1,178,300,000 | 1,177,300,000 | 1,173,700,000 | 1,169,000,000 | 1,168,300,000 | 1,173,700,000 | 1,181,000,000 | 1,197,000,000 | 1,211,200,000 | 1,243,600,000 | ||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||||||
| Operating income (loss) (in thousands) | 601,000) | 1,121,700) | 1,307,000) | 1,517,500) | 1,098,900) | 1,485,400) | 1,706,300) | 1,583,900) | 1,327,500) | 1,253,100) | 1,195,600) | 1,295,500) | 948,900) | 1,177,800) | 1,482,300) | 1,488,700) | 987,600) | 913,500) | 558,400) | (703,900) | 487,400) | 1,219,800) | 1,083,200) | 1,121,300) | 857,700) | 1,015,700) | ||||||||
| Operating profit per share2 | 4.00 | 4.44 | 4.77 | 5.13 | 5.19 | 5.39 | 5.16 | 4.68 | 4.42 | 4.08 | 4.02 | 4.27 | 4.44 | 4.47 | 4.15 | 3.35 | 1.49 | 1.07 | 1.33 | 1.78 | 3.35 | 3.65 | 3.45 | 0.00 | 0.00 | 0.00 | ||||||||
| Share price1, 3 | 84.85 | 100.41 | 98.26 | 75.94 | 88.49 | 94.08 | 105.57 | 101.26 | 114.46 | 109.15 | 97.95 | 83.71 | 74.33 | 98.76 | 110.78 | 126.03 | 116.15 | 104.69 | 93.53 | 74.64 | 78.69 | 88.60 | 84.21 | 96.65 | 77.68 | 67.04 | ||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||||||
| P/OP ratio4 | 21.21 | 22.61 | 20.60 | 14.82 | 17.06 | 17.45 | 20.44 | 21.64 | 25.87 | 26.73 | 24.35 | 19.58 | 16.72 | 22.12 | 26.68 | 37.64 | 77.96 | 98.18 | 70.29 | 41.82 | 23.50 | 24.29 | 24.39 | — | — | — | ||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | ||||||||||||||||||||||||||||||||||
| Airbnb Inc. | — | 31.20 | 34.83 | 57.42 | 52.39 | 62.62 | 65.01 | 34.45 | 46.61 | 45.09 | 46.78 | 35.98 | 57.78 | 88.47 | 232.24 | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Booking Holdings Inc. | — | 20.41 | 21.80 | 22.96 | 19.32 | 19.08 | 22.85 | 15.07 | 16.75 | 17.88 | 17.91 | 14.98 | 19.34 | 28.66 | 40.46 | 66.89 | — | — | — | — | — | — | — | — | — | — | ||||||||
| Chipotle Mexican Grill Inc. | — | 34.15 | 40.67 | 40.74 | 38.97 | 52.39 | 46.13 | 34.75 | 36.84 | 42.00 | 38.25 | 40.02 | 45.28 | 50.34 | 54.38 | 65.08 | 81.53 | 109.79 | 149.81 | — | — | — | — | — | — | — | ||||||||
| McDonald’s Corp. | — | 19.19 | 18.95 | 18.13 | 16.68 | 16.33 | 18.35 | 16.94 | 19.22 | 22.47 | 20.58 | 22.04 | 20.38 | 17.56 | 17.59 | 18.44 | 18.19 | 22.17 | 21.51 | — | — | — | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2025-03-30), 10-Q (reporting date: 2024-12-29), 10-K (reporting date: 2024-09-29), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Operating profit per share
= (Operating income (loss)Q2 2025
+ Operating income (loss)Q1 2025
+ Operating income (loss)Q4 2024
+ Operating income (loss)Q3 2024)
÷ No. shares of common stock outstanding
= (601,000,000 + 1,121,700,000 + 1,307,000,000 + 1,517,500,000)
÷ 1,136,400,000 = 4.00
3 Closing price as at the filing date of Starbucks Corp. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 84.85 ÷ 4.00 = 21.21
5 Click competitor name to see calculations.
The data reveals notable fluctuations in the share price and operating profit per share over the examined periods, reflecting underlying market and operational dynamics.
- Share Price Trends
- The share price demonstrated an overall upward trajectory from the end of 2018 through early 2021, peaking at 126.03 USD in June 2021. Subsequent to this peak, the price experienced notable volatility and a general decline, particularly evident in the latter half of 2022 when values dropped below 75 USD, the lowest in the observed timeframe.
- Beginning in early 2023, the share price showed signs of recovery, increasing past 100 USD at points; however, the fluctuations continued, with values oscillating and ending lower at 84.85 USD by March 2025. This indicates a period of instability, potentially influenced by external economic conditions or company-specific factors.
- Operating Profit per Share
- Operating profit per share data commences from late 2019, initially at 3.45 USD and rising gradually to a peak of 5.39 USD in June 2023. This upward trend suggests improvements in operational efficiency or profitability.
- A slight decline followed after the peak, with values decreasing to 4 USD by March 2025, signaling a potential plateau or challenges in sustaining profit margins at elevated levels.
- Price to Operating Profit (P/OP) Ratio
- The P/OP ratio exhibited substantial variance, ranging from as low as approximately 14.82 to highs exceeding 98.18. Early in the dataset, the ratio remained around mid-20s, but spiked dramatically during 2020, coinciding with the global economic disruption, reaching a peak of 98.18. This suggests market overvaluation relative to operating profit during that period or a compression in profits.
- Post-2020, the ratio declined and stabilized in the teens to mid-20s, indicating a normalization in the relationship between share price and operating profitability. The decrease aligns with the recovery in operating profit and adjustment of market valuation to more sustainable levels.
- Overall Insights
- The interplay between share price, operating profit per share, and the P/OP ratio suggests that market valuation responded sensitively to changes in profitability and broader economic conditions. The sharp ratio increases during 2020 correspond with declining profits and share price volatility, reflecting investor uncertainty.
- Subsequent recovery in operating profits helped restore valuation multiples to more moderate levels, though recent downward trends in share price and profits toward early 2025 may warrant monitoring for potential emerging risks or shifts in company performance.
Price to Sales (P/S)
Starbucks Corp., historical P/S calculation (quarterly data)
| Mar 30, 2025 | Dec 29, 2024 | Sep 29, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 1,136,400,000 | 1,135,900,000 | 1,133,800,000 | 1,133,200,000 | 1,132,700,000 | 1,132,200,000 | 1,136,700,000 | 1,145,400,000 | 1,146,400,000 | 1,149,300,000 | 1,147,800,000 | 1,147,400,000 | 1,146,900,000 | 1,150,300,000 | 1,173,200,000 | 1,179,100,000 | 1,178,300,000 | 1,177,300,000 | 1,173,700,000 | 1,169,000,000 | 1,168,300,000 | 1,173,700,000 | 1,181,000,000 | 1,197,000,000 | 1,211,200,000 | 1,243,600,000 | ||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||||||
| Net revenues (in thousands) | 8,761,600) | 9,397,800) | 9,074,000) | 9,113,900) | 8,563,000) | 9,425,300) | 9,373,600) | 9,168,300) | 8,719,800) | 8,713,900) | 8,414,200) | 8,150,100) | 7,635,600) | 8,050,400) | 8,146,700) | 7,496,500) | 6,668,000) | 6,749,400) | 6,203,100) | 4,222,100) | 5,995,700) | 7,097,100) | 6,747,000) | 6,823,000) | 6,305,900) | 6,632,700) | ||||||||
| Sales per share2 | 31.98 | 31.82 | 31.91 | 32.19 | 32.25 | 32.40 | 31.65 | 30.57 | 29.66 | 28.64 | 28.10 | 27.87 | 27.32 | 26.39 | 24.77 | 23.00 | 20.23 | 19.68 | 20.04 | 20.58 | 22.82 | 22.98 | 22.45 | 0.00 | 0.00 | 0.00 | ||||||||
| Share price1, 3 | 84.85 | 100.41 | 98.26 | 75.94 | 88.49 | 94.08 | 105.57 | 101.26 | 114.46 | 109.15 | 97.95 | 83.71 | 74.33 | 98.76 | 110.78 | 126.03 | 116.15 | 104.69 | 93.53 | 74.64 | 78.69 | 88.60 | 84.21 | 96.65 | 77.68 | 67.04 | ||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||||||
| P/S ratio4 | 2.65 | 3.16 | 3.08 | 2.36 | 2.74 | 2.90 | 3.34 | 3.31 | 3.86 | 3.81 | 3.49 | 3.00 | 2.72 | 3.74 | 4.47 | 5.48 | 5.74 | 5.32 | 4.67 | 3.63 | 3.45 | 3.86 | 3.75 | — | — | — | ||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| P/S Ratio, Competitors5 | ||||||||||||||||||||||||||||||||||
| Airbnb Inc. | — | 6.92 | 8.01 | 8.62 | 7.97 | 9.93 | 9.95 | 8.07 | 10.03 | 9.33 | 10.04 | 7.36 | 10.11 | 11.65 | 16.64 | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Booking Holdings Inc. | — | 6.63 | 6.94 | 6.41 | 5.48 | 5.36 | 6.24 | 4.80 | 5.24 | 5.29 | 5.35 | 4.30 | 5.33 | 6.83 | 9.22 | 10.85 | 11.93 | 16.99 | 14.73 | — | — | — | — | — | — | — | ||||||||
| Chipotle Mexican Grill Inc. | — | 5.81 | 6.89 | 6.91 | 6.53 | 8.38 | 7.28 | 5.43 | 5.68 | 6.25 | 5.14 | 4.86 | 5.15 | 5.36 | 5.80 | 6.91 | 7.52 | 6.61 | 7.26 | — | — | — | — | — | — | — | ||||||||
| McDonald’s Corp. | — | 8.68 | 8.56 | 8.14 | 7.55 | 7.51 | 8.38 | 7.74 | 8.72 | 9.20 | 8.32 | 8.70 | 8.13 | 7.68 | 7.85 | 8.27 | 8.07 | 8.94 | 8.20 | — | — | — | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2025-03-30), 10-Q (reporting date: 2024-12-29), 10-K (reporting date: 2024-09-29), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Sales per share
= (Net revenuesQ2 2025
+ Net revenuesQ1 2025
+ Net revenuesQ4 2024
+ Net revenuesQ3 2024)
÷ No. shares of common stock outstanding
= (8,761,600,000 + 9,397,800,000 + 9,074,000,000 + 9,113,900,000)
÷ 1,136,400,000 = 31.98
3 Closing price as at the filing date of Starbucks Corp. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= 84.85 ÷ 31.98 = 2.65
5 Click competitor name to see calculations.
The share price of the company experienced notable fluctuations over the observed periods. Initially, the share price showed an upward trajectory from US$67.04 at the end of 2018, reaching a peak around early 2021 at US$126.03. Following this peak, the price exhibited volatility, with several periods of decline and partial recovery, ultimately settling near US$84.85 by the first quarter of 2025.
Sales per share data, available starting mid-2019, demonstrated a generally steady increase over time. Beginning at approximately US$22.45 in June 2019, sales per share rose consistently, reaching around US$31.98 by the first quarter of 2025. This pattern indicates sustained growth in sales relative to the number of shares outstanding, suggestive of incremental revenue generation or operational expansion.
The Price-to-Sales (P/S) ratio, a valuation metric, presented considerable variability throughout the timeframe. Early observations around mid-2019 revealed ratios near 3.75 to 3.86. The ratio subsequently escalated sharply, peaking above 5.7 in early 2021, coinciding with the highest share price levels. After this peak, the P/S ratio decreased broadly, descending to lows near 2.36 by late 2024, before marginally rising again to approximately 2.65 by early 2025.
The observed dynamics indicate that while sales per share have steadily improved, investor valuation relative to sales has been more volatile. Peaks in the P/S ratio corresponded with elevated share prices, possibly reflecting periods of heightened market optimism or expectations. Subsequent declines in the P/S suggest a reassessment of company value relative to sales at those times. Overall, despite fluctuations in share price and valuation multiples, the fundamental sales metric displays positive growth momentum.
Price to Book Value (P/BV)
Starbucks Corp., historical P/BV calculation (quarterly data)
| Mar 30, 2025 | Dec 29, 2024 | Sep 29, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 1,136,400,000 | 1,135,900,000 | 1,133,800,000 | 1,133,200,000 | 1,132,700,000 | 1,132,200,000 | 1,136,700,000 | 1,145,400,000 | 1,146,400,000 | 1,149,300,000 | 1,147,800,000 | 1,147,400,000 | 1,146,900,000 | 1,150,300,000 | 1,173,200,000 | 1,179,100,000 | 1,178,300,000 | 1,177,300,000 | 1,173,700,000 | 1,169,000,000 | 1,168,300,000 | 1,173,700,000 | 1,181,000,000 | 1,197,000,000 | 1,211,200,000 | 1,243,600,000 | ||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||||||
| Shareholders’ deficit (in thousands) | (7,622,500) | (7,471,700) | (7,448,900) | (7,945,400) | (8,449,400) | (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) | ||||||||
| Book value per share (BVPS)2 | -6.71 | -6.58 | -6.57 | -7.01 | -7.46 | -7.61 | -7.03 | -7.29 | -7.42 | -7.55 | -7.59 | -7.55 | -7.64 | -7.35 | -4.54 | -5.77 | -6.50 | -6.72 | -6.65 | -7.38 | -6.45 | -5.76 | -5.28 | -3.61 | -4.16 | -2.32 | ||||||||
| Share price1, 3 | 84.85 | 100.41 | 98.26 | 75.94 | 88.49 | 94.08 | 105.57 | 101.26 | 114.46 | 109.15 | 97.95 | 83.71 | 74.33 | 98.76 | 110.78 | 126.03 | 116.15 | 104.69 | 93.53 | 74.64 | 78.69 | 88.60 | 84.21 | 96.65 | 77.68 | 67.04 | ||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||||||
| P/BV ratio4 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | ||||||||||||||||||||||||||||||||||
| Airbnb Inc. | — | 9.79 | 10.57 | 11.01 | 10.46 | 12.88 | 12.09 | 8.49 | 18.03 | 15.36 | 15.16 | 10.67 | 14.23 | 16.27 | 20.88 | 28.80 | 28.30 | 27.60 | — | — | — | — | — | — | — | — | ||||||||
| Booking Holdings Inc. | — | — | — | — | — | — | — | — | — | 89.53 | 32.84 | 18.79 | 19.51 | 19.54 | 16.35 | 18.03 | 17.84 | 20.15 | 20.46 | 14.74 | 17.94 | 15.43 | — | — | — | — | ||||||||
| Chipotle Mexican Grill Inc. | — | 19.12 | 21.32 | 21.01 | 18.75 | 25.43 | 23.47 | 17.95 | 19.07 | 22.64 | 18.74 | 17.58 | 19.46 | 19.67 | 19.05 | 21.50 | 23.66 | 19.92 | 21.52 | 19.42 | 18.92 | 14.72 | — | — | — | — | ||||||||
| McDonald’s Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2025-03-30), 10-Q (reporting date: 2024-12-29), 10-K (reporting date: 2024-09-29), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
BVPS = Shareholders’ deficit ÷ No. shares of common stock outstanding
= -7,622,500,000 ÷ 1,136,400,000 = -6.71
3 Closing price as at the filing date of Starbucks Corp. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= 84.85 ÷ -6.71 = —
5 Click competitor name to see calculations.
The share price exhibits a generally fluctuating pattern over the analyzed periods. Starting from $67.04 at the end of 2018, the price experienced a steady increase through mid-2019, reaching near $96.65 in June 2019. This was followed by some volatility, with a decline and then recovery, peaking around $126.03 in June 2021. Post this peak, the share price showcased a downward trend with intermittent recoveries, ultimately settling at $84.85 by March 2025.
The book value per share (BVPS) remains consistently negative throughout the periods, indicating book equity deficits or intangible assets exceeding liabilities. The BVPS values show a slight worsening trend from -2.32 at the end of 2018 reaching lows around -7.64 in early 2022. Despite some variance, it marginally improves towards -6.71 by March 2025 but stays significantly negative, reflecting persistent challenges in net asset value per share.
The absence of values for the price-to-book value ratio (P/BV) limits direct analysis of valuation relative to book equity. However, given the negative BVPS, traditional P/BV ratios would not be meaningful or are possibly omitted for that reason.
Overall, the data reveals a volatile but generally upward trend in share price until mid-2021, followed by a declining phase. Concurrently, the persistent negative book value per share highlights underlying balance sheet challenges, which may influence investor sentiment and valuation metrics. The disconnect between rising prices during certain intervals despite negative BVPS suggests market perception driven by factors beyond book equity, such as earnings prospects or brand strength.