Financials Starbucks Corporation

Equities

SBUX

US8552441094

Restaurants & Bars

Real-time Estimate Cboe BZX Other stock markets 01:16:29 2025-12-05 pm EST			5-day change	1st Jan Change
85.24 ^USD	+0.29%		-1.89%	-6.35%

Dec. 04	Starbucks Workers United says hundreds of new union Starbucks baristas join longest ULP strike	RE
Dec. 04	Comstock Holding Companies, Inc. Celebrates Starbucks Opening at Loudoun Station	CI

Projected Income Statement: Starbucks Corporation

Fiscal Period: September	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	29,061	32,250	35,976	36,176	37,184	38,221	40,920	43,183
Change	-	10.98%	11.55%	0.56%	2.79%	2.79%	7.06%	5.53%
EBITDA ¹	6,501	6,136	7,164	6,921	5,376	5,785	6,748	7,538
Change	-	-5.62%	16.76%	-3.39%	-22.32%	7.6%	16.65%	11.71%
EBIT ¹	5,262	4,855	5,801	5,409	3,692	4,052	4,956	5,632
Change	-	-7.73%	19.49%	-6.77%	-31.75%	9.77%	22.3%	13.65%
Interest Paid ¹	-469.8	-482.9	-550.1	-562	-542.6	-559.1	-568.8	-570.4
Earnings before Tax (EBT) ¹	5,357	4,232	5,402	4,970	2,507	3,583	4,408	5,120
Change	-	-21%	27.65%	-8%	-49.55%	42.9%	23.01%	16.16%
Net income ¹	4,199	3,282	4,124	3,761	1,856	2,689	3,307	3,827
Change	-	-21.85%	25.69%	-8.82%	-50.64%	44.87%	22.98%	15.71%
Announcement Date	10/28/21	11/3/22	11/2/23	10/30/24	10/29/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: September	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4
Net sales ¹	6,749	6,668	7,496	8,147	8,050	7,636	8,150	8,414	8,714	8,720	9,168	9,374	9,425	8,563	9,114	9,074	9,398	8,762	9,456	9,569	9,621	9,026	9,747	9,937	10,324	9,721	10,487	10,991
Change	-	-1.21%	12.43%	8.67%	-1.18%	-5.15%	6.74%	3.24%	3.56%	0.07%	5.14%	2.24%	0.55%	-9.15%	6.43%	-0.44%	3.57%	-6.77%	7.93%	1.2%	0.55%	-6.19%	7.99%	1.96%	3.89%	-5.84%	7.88%	4.81%
EBITDA ¹	1,359	1,386	1,850	1,907	1,536	1,321	1,771	1,590	1,586	1,587	1,933	2,058	1,851	1,471	1,898	1,702	1,529	1,136	1,384	1,327	1,430	1,177	1,553	1,597	1,624	1,426	1,837	1,964
Change	-	1.99%	33.51%	3.1%	-19.45%	-14.02%	34.08%	-10.23%	-0.23%	0.04%	21.81%	6.43%	-10.06%	-20.53%	29.04%	-10.33%	-10.14%	-25.71%	21.82%	-4.12%	7.78%	-17.72%	31.96%	2.81%	1.73%	-12.23%	28.83%	6.95%
EBIT ¹	1,048	1,076	1,540	1,597	1,213	996.4	1,373	1,273	1,259	1,245	1,591	1,706	1,485	1,099	1,518	1,307	1,122	717.2	956.4	896.2	1,016	753.5	1,116	1,160	1,307	1,012	1,376	1,467
Change	-	2.61%	43.19%	3.7%	-24.06%	-17.86%	37.8%	-7.31%	-1.05%	-1.12%	27.78%	7.24%	-12.94%	-26.02%	38.09%	-13.88%	-14.17%	-36.06%	33.35%	-6.29%	13.33%	-25.81%	48.06%	4%	12.62%	-22.58%	36.05%	6.59%
Charge d'intérêts ¹	-120.7	-115	-113.4	-120.6	-115.3	-119.1	-123.1	-125.3	-129.7	-136.3	-140.9	-143.2	-140.1	-140.6	-141.3	-140	-127.2	-127.3	-142.3	-145.8	-140	-140.1	-142.6	-142.4	-144.9	-146	-147.2	-147.8
Earnings before Tax (EBT) ¹	808.3	889.9	1,411	2,248	1,062	876.1	1,192	1,101	1,135	1,210	1,464	1,593	1,379	992.4	1,404	1,194	1,022	502.1	818.9	163.9	872.2	663.2	1,001	1,066	944.2	864.3	1,223	1,356
Change	-	10.1%	58.59%	59.26%	-52.73%	-17.54%	36.08%	-7.63%	3.07%	6.57%	21.06%	8.8%	-13.43%	-28.04%	41.51%	-15%	-14.36%	-50.89%	63.1%	-79.99%	432.18%	-23.97%	50.91%	6.51%	-11.43%	-8.46%	41.52%	10.89%
Net income ¹	622.2	659.4	1,153	1,764	815.9	674.5	912.9	878.3	855.2	908.3	1,142	1,219	1,024	772.4	1,055	909.3	780.8	384.2	558.3	133.1	662.9	491.9	741.5	804.1	709.8	647.7	919.1	1,017
Change	-	5.98%	74.92%	52.97%	-53.76%	-17.33%	35.34%	-3.79%	-2.63%	6.21%	25.7%	6.8%	-15.98%	-24.6%	36.56%	-13.79%	-14.13%	-50.79%	45.31%	-76.16%	398.07%	-25.8%	50.74%	8.45%	-11.73%	-8.74%	41.89%	10.66%
Announcement Date	1/26/21	4/27/21	7/27/21	10/28/21	2/1/22	5/3/22	8/2/22	11/3/22	2/2/23	5/2/23	8/1/23	11/2/23	1/30/24	4/30/24	7/30/24	10/30/24	1/28/25	4/29/25	7/29/25	10/29/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Starbucks Corporation

Fiscal Period: September	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	7,998	12,226	11,848	12,282	12,855	14,063	14,822	15,733
Change	-	52.86%	-3.09%	3.66%	4.67%	9.4%	5.4%	6.15%
Announcement Date	10/28/21	11/3/22	11/2/23	10/30/24	10/29/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Starbucks Corporation

Fiscal Period: September	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	1,470	1,841	2,334	2,778	2,306	2,334	2,382	2,644
Change	-	25.26%	26.74%	19.02%	-16.99%	1.26%	2.03%	10.99%
Free Cash Flow (FCF) ¹	4,519	2,556	3,675	3,318	2,442	3,411	3,646	3,610
Change	-	-43.44%	43.78%	-9.71%	-26.4%	39.67%	6.91%	-1.01%
Announcement Date	10/28/21	11/3/22	11/2/23	10/30/24	10/29/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Starbucks Corporation

Fiscal Period: September	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	22.37%	19.03%	19.91%	19.13%	14.46%	15.14%	16.49%	17.46%
EBIT Margin (%)	18.11%	15.05%	16.13%	14.95%	9.93%	10.6%	12.11%	13.04%
EBT Margin (%)	18.43%	13.12%	15.02%	13.74%	6.74%	9.37%	10.77%	11.86%
Net margin (%)	14.45%	10.18%	11.46%	10.4%	4.99%	7.04%	8.08%	8.86%
FCF margin (%)	15.55%	7.93%	10.22%	9.17%	6.57%	8.92%	8.91%	8.36%
FCF / Net Income (%)	107.62%	77.89%	89.1%	88.23%	131.54%	126.82%	110.25%	94.32%
Profitability
ROA	13.82%	11.55%	14.19%	12.37%	5.86%	8.24%	10.16%	10.94%
ROE	-	-	-	-	-	-	-	-
Financial Health
Leverage (Debt/EBITDA)	1.23x	1.99x	1.65x	1.77x	2.39x	2.43x	2.2x	2.09x
Debt / Free cash flow	1.77x	4.78x	3.22x	3.7x	5.26x	4.12x	4.06x	4.36x
Capital Intensity
CAPEX / Current Assets (%)	5.06%	5.71%	6.49%	7.68%	6.2%	6.11%	5.82%	6.12%
CAPEX / EBITDA (%)	22.61%	30.01%	32.57%	40.13%	42.88%	40.35%	35.3%	35.07%
CAPEX / FCF (%)	32.53%	72.04%	63.5%	83.71%	94.41%	68.45%	65.32%	73.24%
Items per share
Cash flow per share ¹	5.052	3.797	5.219	5.378	4.165	4.113	5.03	5.868
Change	-	-24.84%	37.44%	3.04%	-22.55%	-1.26%	22.3%	16.66%
Dividend per Share ¹	2.29	2	2.16	2.32	2.45	2.513	2.625	2.846
Change	-	-12.66%	8%	7.41%	5.6%	2.56%	4.47%	8.43%
Book Value Per Share ¹	-4.51	-7.58	-6.997	-6.572	-7.122	-7.465	-7.384	-7.57
Change	-	-68.09%	7.69%	6.08%	-8.37%	-4.82%	1.09%	-2.52%
EPS ¹	3.54	2.83	3.58	3.31	1.63	2.379	2.939	3.446
Change	-	-20.06%	26.5%	-7.54%	-50.76%	45.94%	23.53%	17.28%
Nbr of stocks (in thousands)	1,179,100	1,147,400	1,145,400	1,133,200	1,136,700	1,137,100	1,137,100	1,137,100
Announcement Date	10/28/21	11/3/22	11/2/23	10/30/24	10/29/25	-	-	-