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Starbucks's net profit rose 561% yoy to USD 4,393 mil in 2021

By Helgi Library - May 9, 2022

Starbucks made a net profit of USD 4,393 mil with revenues of USD 30,362 mil in 2021, up by 561% and up by 31%, res...

Starbucks's net profit rose 561% yoy to USD 4,393 mil in 2021

By Helgi Library - May 9, 2022

Starbucks made a net profit of USD 4,393 mil with revenues of USD 30,362 mil in 2021, up by 561% and up by 31%, res...

Starbucks's price/earnings (P/E) fell 83.4% yoy to 31.6 in 2021

By Helgi Library - May 9, 2022

Starbucks stock traded at USD 117 per share at the end 2021 translating into a market capitalization of USD 138,704 mil. Since th...

Profit Statement 2023 2024 2025
Sales USD mil 36,370 39,484 42,922
Gross Profit USD mil 10,911 11,845 12,877
EBITDA USD mil 7,451 8,156 9,061
EBIT USD mil 5,914 6,604 7,680
Financing Cost USD mil ... ... ...
Pre-Tax Profit USD mil 5,538 6,218 7,027
Net Profit USD mil 4,330 4,551 5,485
Dividends USD mil 2,559 2,935 3,410
Balance Sheet 2023 2024 2025
Total Assets USD mil 31,946 33,095 34,301
Non-Current Assets USD mil 24,294 25,225 26,201
Current Assets USD mil 7,652 7,870 8,100
Working Capital USD mil 1,590 1,707 1,832
Shareholders' Equity USD mil -5,014 -3,022 -472
Liabilities USD mil 36,967 36,124 34,780
Total Debt USD mil 23,757 23,762 23,767
Net Debt USD mil 11,825 10,953 10,807
Ratios 2023 2024 2025
ROE % -72.0 -113 -314
ROCE % 17.1 17.2 20.0
Gross Margin % 30.0 30.0 30.0
EBITDA Margin % 20.5 20.7 21.1
EBIT Margin % 16.3 16.7 17.9
Net Margin % 11.9 11.5 12.8
Net Debt/EBITDA 1.59 1.34 1.19
Net Debt/Equity % -236 -362 -2,289
Cost of Financing % ... ... ...
Valuation 2023 2024 2025
Market Capitalisation USD mil 90,110 90,110 90,110
Enterprise Value (EV) USD mil 101,935 101,063 100,917
Number Of Shares mil 1,178 1,178 1,178
Share Price USD 76.5 76.5 76.5
EV/EBITDA 13.7 12.4 11.1
EV/Sales 2.80 2.56 2.35
Price/Earnings (P/E) 20.8 19.8 16.4
Price/Book Value (P/BV) -18.0 -29.8 -191
Dividend Yield % 2.84 3.26 3.78

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overview Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
income statement                                          
Sales USD mil                         22,728 25,278 26,973 23,170 30,362        
Gross Profit USD mil                         6,891 7,376 7,657 4,853 8,682        
EBIT USD mil                         4,118 3,783 4,282 1,255 5,136        
Net Profit USD mil                         4,383 3,029 3,725 665 4,393        
                                             
ROE %                         75.8 210 -77.3 -9.07 -53.7        
EBIT Margin %                         18.1 15.0 15.9 5.42 16.9        
Net Margin %                         19.3 12.0 13.8 2.87 14.5        
Employees                         277,000 291,000 346,000 349,000 383,000 ... ... ... ...
balance sheet                                          
Total Assets USD mil                         18,519 19,981 27,731 29,968 28,834        
Non-Current Assets USD mil                         11,635 12,305 21,832 21,611 21,579        
Current Assets USD mil                         6,884 7,676 5,900 8,358 7,255        
                                             
Shareholders' Equity USD mil                         5,759 -2,879 -6,759 -7,904 -8,450        
Liabilities USD mil                         12,760 22,860 34,490 37,872 37,284        
Non-Current Liabilities USD mil                         5,919 17,433 25,815 29,989 28,363        
Current Liabilities USD mil                         6,841 5,428 8,676 7,884 8,921        
                                             
Net Debt/EBITDA                         0.221 0.801 2.86 4.48 2.40        
Net Debt/Equity %                         19.9 -144 -259 -249 -233        
Cost of Financing %                         2.34 3.12 2.34 2.04 1.91 ... ... ... ...
cash flow                                          
Total Cash From Operations USD mil                         4,557 12,483 4,504 1,597 6,024        
Total Cash From Investing USD mil                         -53.5 -3,267 -887 -1,598 -448        
Total Cash From Financing USD mil                         -2,930 -8,062 -5,321 1,871 -6,654        
Net Change In Cash USD mil                         1,628 1,100 -1,721 1,988 -1,059        
valuation                                          
Market Capitalisation USD mil ... ... ... ... ... ... ... ... ... ... ... ... 83,744 86,465 108,682 126,453 138,704        
Enterprise Value (EV) USD mil ... ... ... ... ... ... ... ... ... ... ... ... 84,892 90,604 126,203 146,127 158,394        
Number Of Shares mil ... ... ... ... ... ... ... ... ... ... ... ... 1,462 1,395 1,233 1,182 1,186        
Share Price USD ... ... ... ... ... ... ... ... ... ... ... ... 57.3 62.0 88.1 107 117        
Price/Earnings (P/E) ... ... ... ... ... ... ... ... ... ... ... ... 19.1 28.5 29.2 190 31.6        
Price/Cash Earnings (P/CE) ... ... ... ... ... ... ... ... ... ... ... ... 15.6 21.0 22.2 63.8 24.5        
EV/EBITDA ... ... ... ... ... ... ... ... ... ... ... ... 16.3 17.5 20.6 33.3 19.3        
Price/Book Value (P/BV) ... ... ... ... ... ... ... ... ... ... ... ... 14.5 -30.0 -16.1 -16.0 -16.4        
Dividend Yield % ... ... ... ... ... ... ... ... ... ... ... ... 1.91 2.15 1.72 2.03 1.60        
income statement Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
income statement                                          
Sales USD mil                         22,728 25,278 26,973 23,170 30,362        
Cost of Goods & Services USD mil                         15,836 17,902 19,316 18,318 21,680 ... ... ... ...
Gross Profit USD mil                         6,891 7,376 7,657 4,853 8,682        
Selling, General & Admin USD mil ... ... ... ...                 1,447 1,799 1,810 1,718 1,986 ... ... ... ...
Research & Development USD mil       ... ... ... ... ...         0 0 0 0 0 ... ... ... ...
Other Operating Expense USD mil ... ... ... ...                 702 752 474 765 460 ... ... ... ...
Other Operating Cost (Income) USD mil ... ... ... ...                 396 280 304 331 343 ... ... ... ...
EBITDA USD mil                         5,195 5,167 6,123 4,388 8,214        
Depreciation USD mil                         981 1,082 1,160 1,319 1,268        
EBIT USD mil                         4,118 3,783 4,282 1,255 5,136        
Net Financing Cost USD mil   ...   ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...
Financing Cost USD mil                         94.6 219 348 466 464 ... ... ... ...
Financing Income USD mil   ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...
FX (Gain) Loss USD mil                         0 0 0 0 0        
(Income) / Loss from Affiliates USD mil                         0 0 0 0 0        
Extraordinary Cost USD mil   ... ... ...                 0 0 0 0 0        
Pre-Tax Profit USD mil                         6,191 3,740 4,645 829 5,611        
Tax USD mil                         1,807 711 925 167 1,217        
Minorities USD mil   ... ... ...                 0.400 -0.400 -4.80 -3.20 1.20        
Net Profit USD mil                         4,383 3,029 3,725 665 4,393        
Net Profit Avail. to Common USD mil                         4,383 3,029 3,725 665 4,393        
Dividends USD mil ... ... ... ...                 1,587 1,847 1,850 2,545 2,201        
growth rates                                          
Total Revenue Growth % ...                       4.85 11.2 6.70 -14.1 31.0        
Operating Cost Growth % ...                       17.5 22.2 -5.00 6.78 -1.03 ... ... ... ...
EBITDA Growth % ...                       -1.85 -0.524 18.5 -28.3 87.2        
EBIT Growth % ...                       -3.02 -8.14 13.2 -70.7 309        
Pre-Tax Profit Growth % ...                       44.6 -39.6 24.2 -82.2 577        
Net Profit Growth % ...                       52.1 -30.9 23.0 -82.2 561        
ratios                                          
ROE %                         75.8 210 -77.3 -9.07 -53.7        
ROA %                         26.9 15.7 15.6 2.30 14.9        
ROCE %                         36.9 23.1 20.5 2.89 19.2        
Gross Margin %                         30.3 29.2 28.4 20.9 28.6        
EBITDA Margin %                         22.9 20.4 22.7 18.9 27.1        
EBIT Margin %                         18.1 15.0 15.9 5.42 16.9        
Net Margin %                         19.3 12.0 13.8 2.87 14.5        
Payout Ratio % ... ... ... ...                 36.2 61.0 49.7 383 50.1        
Cost of Financing %                         2.34 3.12 2.34 2.04 1.91 ... ... ... ...
Net Debt/EBITDA                         0.221 0.801 2.86 4.48 2.40        
balance sheet Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
balance sheet                                          
Cash & Cash Equivalents USD mil ... ... ...                   3,768 4,992 3,109 5,264 4,057        
Receivables USD mil                         852 721 908 888 1,031        
Inventories USD mil                         1,313 1,355 1,409 1,472 1,637        
Other ST Assets USD mil                         951 609 474 734 530        
Current Assets USD mil                         6,884 7,676 5,900 8,358 7,255        
Property, Plant & Equipment USD mil                         5,379 6,039 14,749 14,377 14,601        
LT Investments & Receivables USD mil                         364 265 200 191 300        
Intangible Assets USD mil                         4,921 4,542 4,255 4,213 3,978        
Goodwill USD mil                         3,675 3,560 3,516 3,707 3,676        
Non-Current Assets USD mil                         11,635 12,305 21,832 21,611 21,579        
Total Assets USD mil                         18,519 19,981 27,731 29,968 28,834        
                                             
Trade Payables USD mil                         852 1,101 1,086 1,051 1,289        
Short-Term Debt USD mil                         350 0 2,266 2,510 2,453        
Other ST Liabilities USD mil                         1,899 1,782 1,698 1,884 2,079        
Current Liabilities USD mil                         6,841 5,428 8,676 7,884 8,921        
Long-Term Debt USD mil                         4,567 9,131 18,365 22,428 21,294        
Other LT Liabilities USD mil                         1,356 8,302 7,450 7,561 7,069        
Non-Current Liabilities USD mil                         5,919 17,433 25,815 29,989 28,363        
Liabilities USD mil                         12,760 22,860 34,490 37,872 37,284        
Preferred Equity and Hybrid Capital USD mil   ... ...                   0 0 0 0 0        
Share Capital USD mil                         42.5 42.3 42.3 490 42.3        
Treasury Stock USD mil                         0 0 0 0 0        
Equity Before Minority Interest USD mil                         5,752 -2,885 -6,760 -7,910 -8,457        
Minority Interest USD mil   ... ... ...                 6.80 6.10 0.800 5.70 6.90        
Equity USD mil                         5,759 -2,879 -6,759 -7,904 -8,450        
growth rates                                          
Total Asset Growth % ...                       32.1 7.90 38.8 8.07 -3.79        
Shareholders' Equity Growth % ...                       -0.762 -150 135 16.9 6.91        
Net Debt Growth % ...                       13.7 260 323 12.3 0.079        
Total Debt Growth % ...                       54.3 85.7 126 20.9 -4.78        
ratios                                          
Total Debt USD mil                         4,916 9,131 20,630 24,938 23,747        
Net Debt USD mil                         1,148 4,139 17,522 19,675 19,690        
Working Capital USD mil                         1,313 976 1,231 1,309 1,379        
Capital Employed USD mil                         12,948 13,281 23,063 22,920 22,958        
Net Debt/Equity %                         19.9 -144 -259 -249 -233        
Current Ratio                         1.01 1.41 0.680 1.06 0.813        
Quick Ratio ... ... ...                   0.675 1.05 0.463 0.780 0.570        
cash flow Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
cash flow                                          
Net Profit USD mil                         4,383 3,029 3,725 665 4,393        
Depreciation USD mil                         981 1,082 1,160 1,319 1,268        
Non-Cash Items USD mil                         -941 -170 -1,297 1,110 -406        
Change in Working Capital USD mil                         38.0 8,240 609 -1,700 515        
Total Cash From Operations USD mil                         4,557 12,483 4,504 1,597 6,024        
                                             
Capital Expenditures USD mil ... ... ... ...                 -1,641 -1,979 -1,770 -1,414 -1,563        
Net Change in LT Investment USD mil                         0 0 0 0 0 ... ... ... ...
Net Cash From Acquisitions USD mil ... ... ... ...                 612 -1,838 684 0 1,175 ... ... ... ...
Other Investing Activities USD mil                         976 550 199 -184 -60.4        
Total Cash From Investing USD mil                         -53.5 -3,267 -887 -1,598 -448        
                                             
Dividends Paid USD mil                         -1,515 -1,762 -1,799 -1,968 -2,167        
Issuance Of Shares USD mil                         -3,152 -10,501 -5,999 -341 -3,458        
Issuance Of Debt USD mil                         1,749 4,236 2,494 4,217 -1,029        
Other Financing Activities USD mil                         -11.7 -34.3 -17.2 -37.7 0 ... ... ... ...
Total Cash From Financing USD mil                         -2,930 -8,062 -5,321 1,871 -6,654        
                                             
Effect of FX Rates USD mil ... ... ... ...                 54.0 -54.0 -17.2 117 19.4 ... ... ... ...
Net Change In Cash USD mil                         1,628 1,100 -1,721 1,988 -1,059        
ratios                                          
Days Sales Outstanding days                         13.7 10.4 12.3 14.0 12.4        
Days Sales Of Inventory days                         30.3 27.6 26.6 29.3 27.6 ... ... ... ...
Days Payable Outstanding days                         19.6 22.4 20.5 20.9 21.7 ... ... ... ...
Cash Conversion Cycle days                         24.3 15.6 18.4 22.4 18.2 ... ... ... ...
Cash Earnings USD mil                         5,364 4,111 4,885 1,983 5,661        
Free Cash Flow USD mil                         4,503 9,216 3,617 -0.300 5,576        
Capital Expenditures (As % of Sales) % ... ... ... ...                 7.22 7.83 6.56 6.10 5.15        
other ratios Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
                                           
Employees                         277,000 291,000 346,000 349,000 383,000 ... ... ... ...
Operating Cost (As % of Sales) %                         13.9 15.3 13.6 17.0 12.8 ... ... ... ...
Research & Development (As % of Sales) %       ... ... ... ... ...         0 0 0 0 0 ... ... ... ...
Effective Tax Rate %                         29.2 19.0 19.9 20.2 21.7        
Total Revenue Growth (5-year average) % ... ... ... ... ...               10.7 10.5 9.66 3.26 6.97        
Total Revenue Growth (10-year average) % ... ... ... ... ... ... ... ... ... ...     8.75 9.47 10.6 7.80 9.56        
valuation Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
                                           
Market Capitalisation USD mil ... ... ... ... ... ... ... ... ... ... ... ... 83,744 86,465 108,682 126,453 138,704        
Enterprise Value (EV) USD mil ... ... ... ... ... ... ... ... ... ... ... ... 84,892 90,604 126,203 146,127 158,394        
Number Of Shares mil ... ... ... ... ... ... ... ... ... ... ... ... 1,462 1,395 1,233 1,182 1,186        
Share Price USD ... ... ... ... ... ... ... ... ... ... ... ... 57.3 62.0 88.1 107 117        
EV/EBITDA ... ... ... ... ... ... ... ... ... ... ... ... 16.3 17.5 20.6 33.3 19.3        
Price/Earnings (P/E) ... ... ... ... ... ... ... ... ... ... ... ... 19.1 28.5 29.2 190 31.6        
Price/Cash Earnings (P/CE) ... ... ... ... ... ... ... ... ... ... ... ... 15.6 21.0 22.2 63.8 24.5        
P/FCF ... ... ... ... ... ... ... ... ... ... ... ... 18.6 9.38 30.0 -421,509 24.9        
Price/Book Value (P/BV) ... ... ... ... ... ... ... ... ... ... ... ... 14.5 -30.0 -16.1 -16.0 -16.4        
Dividend Yield % ... ... ... ... ... ... ... ... ... ... ... ... 1.91 2.15 1.72 2.03 1.60        
Free Cash Flow Yield % ... ... ... ... ... ... ... ... ... ... ... ... 5.38 10.7 3.33 < -0.001 4.02        
Earnings Per Share (EPS) USD ... ... ... ... ... ... ... ... ... ... ... ... 3.00 2.17 3.02 0.563 3.71        
Cash Earnings Per Share USD ... ... ... ... ... ... ... ... ... ... ... ... 3.67 2.95 3.96 1.68 4.77        
Free Cash Flow Per Share USD ... ... ... ... ... ... ... ... ... ... ... ... 3.08 6.61 2.93 < -0.001 4.70        
Book Value Per Share USD ... ... ... ... ... ... ... ... ... ... ... ... 3.94 -2.06 -5.48 -6.69 -7.13        
Dividend Per Share USD ... ... ... ... ... ... ... ... ... ... ... ... 1.09 1.34 1.52 2.17 1.87        
EV/Sales ... ... ... ... ... ... ... ... ... ... ... ... 3.74 3.58 4.68 6.31 5.22        
EV/EBIT ... ... ... ... ... ... ... ... ... ... ... ... 20.6 24.0 29.5 116 30.8        
EV/Free Cash Flow ... ... ... ... ... ... ... ... ... ... ... ... 18.9 9.83 34.9 -487,091 28.4        
EV/Capital Employed ... ... ... ... ... ... ... ... ... ... ... ... 6.56 6.82 5.47 6.38 6.90        
Earnings Per Share Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... -27.6 39.1 -81.4 559        
Cash Earnings Per Share Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... -19.7 34.4 -57.6 185        
Book Value Per Share Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... -152 166 22.0 6.58        

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Starbucks's price/earnings (P/E) fell 83.4% yoy to 31.6 in 2021

By Helgi Library - May 9, 2022

Starbucks stock traded at USD 117 per share at the end 2021 translating into a market capitalization of USD 138,704 mil. Since the end of 2016, stock has appreciated by 0% representing an annual average growth of %. In absolute terms, the value of the c...

Starbucks's Capital Expenditures fell 10.5% yoy to USD 1,563 mil in 2021

By Helgi Library - May 9, 2022

Starbucks invested a total of USD 1,563 mil in 2021, up 10.5% compared to the previous year. Historically, between 2009 - 2021, the company's investments stood at a high of USD 1,979 mil in 2018 and a low of USD 330 mil in 2009. As a ...

Starbucks's Capital Expenditures fell 10.5% yoy to USD 1,563 mil in 2021

By Helgi Library - May 9, 2022

Starbucks invested a total of USD 1,563 mil in 2021, up 10.5% compared to the previous year. Historically, between 2009 - 2021, the company's investments stood at a high of USD 1,979 mil in 2018 and a low of USD 330 mil in 2009. As a ...

Starbucks's Net Margin rose 404% yoy to 14.5% in 2021

By Helgi Library - May 9, 2022

Starbucks made a net profit of USD 4,393 mil with revenues of USD 30,362 mil in 2021, up by 561% and up by 31.0%, respectively, compared to the previous year. This translates into a net margin of 14.5%. Historically, between 2005 and 2021, the firmâ...

Starbucks's ROCE rose 562% yoy to 19.2% in 2021

By Helgi Library - May 9, 2022

Starbucks made a net profit of USD 4,393 mil in 2021, up 561% compared to the previous year. Historically, between 2005 and 2021, the company's net profit reached a high of USD 4,393 mil in 2021 and a low of USD 117 mil in 2013. The result implies a retur...

Starbucks's Share Price rose 9.35% yoy to USD 117 in 2021

By Helgi Library - May 9, 2022

Starbucks stock traded at USD 117 per share at the end 2021 implying a market capitalization of USD 138,704 mil. Since the end of 2016, stock has appreciated by % implying an annual average growth of % In absolute terms, the value of the company rose ...

Starbucks's Net Margin rose 404% yoy to 14.5% in 2021

By Helgi Library - May 9, 2022

Starbucks made a net profit of USD 4,393 mil with revenues of USD 30,362 mil in 2021, up by 561% and up by 31.0%, respectively, compared to the previous year. This translates into a net margin of 14.5%. Historically, between 2005 and 2021, the firmâ...

Starbucks's Share Price rose 9.35% yoy to USD 117 in 2021

By Helgi Library - May 9, 2022

Starbucks stock traded at USD 117 per share at the end 2021 implying a market capitalization of USD 138,704 mil. Since the end of 2016, stock has appreciated by % implying an annual average growth of % In absolute terms, the value of the company rose ...

Starbucks's P/FCF rose 100% yoy to 24.9 in 2021

By Helgi Library - May 9, 2022

Starbucks stock traded at USD 117 per share at the end 2021 translating into a market capitalization of USD 138,704 mil. Since the end of 2016, the stock has appreciated by 0% representing an annual average growth of %. At the end of 2021, the firm trade...

Starbucks's Net Debt/EBITDA fell 46.5% yoy to 2.40 in 2021

By Helgi Library - May 9, 2022

Starbucks's net debt stood at USD 19,690 mil and accounted for -233% of equity at the end of 2021. The ratio is up 15.9 pp compared to the previous year. Historically, the firm’s net debt to equity reached a high of 24.2% in 2007 and a low of ...

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Finance

Starbucks has been growing its sales by 13.1% a year on average in the last 5 years. EBITDA has grown on average by 15.6% a year during that time to total of USD 9,061 mil in 2025, or 21.1% of sales. That’s compared to 22.0% average margin seen in last five years.

The company netted USD 5,485 mil in 2025 implying ROE of -314% and ROCE of 20.0%. Again, the average figures were -120% and 17.7%, respectively when looking at the previous 5 years.

Starbucks’s net debt amounted to USD 10,807 mil at the end of 2025, or -2,289% of equity. When compared to EBITDA, net debt was 1.19x, down when compared to average of 1.64x seen in the last 5 years.

Valuation

Starbucks stock traded at USD 76.5 per share at the end of 2025 resulting in a market capitalization of USD 90,110 mil. Over the previous five years, stock price fell by 28.5% or -6.49% a year on average. The closing price put stock at a 12-month trailing EV/EBITDA of 11.1x and price to earnings (PE) of 16.4x as of 2025.