SBUX

STARBUCKS CORPConsumer

10-K for period ending 2025-09-28filed 2025-11-14accession 0000829224-25-000114filing on sec.gov ↗

answer key

field	SEC value	XBRL concept	printed on
Total revenue	$37.2B	Revenues	Total net revenues
Operating income	$2.9B	OperatingIncomeLoss	Operating income
Net income attributable to the company	$1.9B	NetIncomeLoss	Net earnings including noncontrolling interests · Net earnings attributable to Starbucks
Diluted EPS	$1.63	EarningsPerShareDiluted	Earnings per share - basic · Earnings per share - diluted
Cash and cash equivalents	$3.2B	CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	Cash and cash equivalents
Total assets	$32.0B	Assets	TOTAL ASSETS · TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY/(DEFICIT)
Total liabilities	$40.1B	Liabilities	Total liabilities
Total shareholders' equity attributable to the company	-$8.1B	StockholdersEquity	Total shareholders’ deficit
Net cash from operating activities	$4.7B	NetCashProvidedByUsedInOperatingActivities	Net cash provided by operating activities
Net cash from investing activities	-$2.5B	NetCashProvidedByUsedInInvestingActivities	Net cash used in investing activities
Net cash from financing activities	-$2.3B	NetCashProvidedByUsedInFinancingActivities	Net cash used in financing activities

Income statement

table #22 · score 51.3 vs 30 runner-up · in millions

Fiscal Year Ended	Sep 28,2025	Sep 29,2024	Oct 1,2023
Net revenues:
Company-operated stores	30,744.8	29,765.9	29,462.3
Licensed stores	4,350.4	4,505.1	4,512.7
Other	2,089.2	1,905.2	2,000.6
Total net revenues	37,184.4	36,176.2	35,975.6
Product and distribution costs	11,658.2	11,180.6	11,409.1
Store operating expenses	17,058.9	15,286.5	14,720.3
Other operating expenses	584.6	565.6	539.4
Depreciation and amortization expenses	1,684.7	1,512.6	1,362.6
General and administrative expenses	2,617.2	2,523.3	2,441.3
Restructuring and impairments	892.0	-	21.8
Total operating expenses	34,495.6	31,068.6	30,494.5
Income from equity investees	247.8	301.2	298.4
Gain from sale of assets	-	-	91.3
Operating income	2,936.6	5,408.8	5,870.8
Interest income and other, net	113.3	122.8	81.2
Interest expense	(542.6)	(562.0)	(550.1)
Earnings before income taxes	2,507.3	4,969.6	5,401.9
Income tax expense	650.6	1,207.3	1,277.2
Net earnings including noncontrolling interests	1,856.7	3,762.3	4,124.7
Net earnings attributable to noncontrolling interests	0.3	1.4	0.2
Net earnings attributable to Starbucks	1,856.4	3,760.9	4,124.5
Earnings per share - basic	1.63	3.32	3.60
Earnings per share - diluted	1.63	3.31	3.58
Weighted average shares outstanding:
Basic	1,136.0	1,133.8	1,146.8
Diluted	1,139.8	1,137.3	1,151.3

Balance sheet

table #24 · score 53.8 vs 25.8 runner-up · in millions

Sep 28,2025	Sep 29,2024
ASSETS
Current assets:
Cash and cash equivalents	3,219.8	3,286.2
Short-term investments	247.2	257.0
Accounts receivable, net	1,277.5	1,213.8
Inventories	2,185.6	1,777.3
Prepaid expenses and other current assets	452.2	313.1
Total current assets	7,382.3	6,847.4
Long-term investments	246.9	276.0
Equity investments	466.2	463.9
Property, plant and equipment, net	8,493.5	8,665.5
Operating lease, right-of-use asset	9,315.7	9,286.2
Deferred income taxes, net	1,826.9	1,766.7
Other long-term assets	752.5	617.0
Other intangible assets	166.8	100.9
Goodwill	3,368.9	3,315.7
TOTAL ASSETS	32,019.7	31,339.3
LIABILITIES AND SHAREHOLDERS’ EQUITY/(DEFICIT)
Current liabilities:
Accounts payable	1,852.8	1,595.5
Accrued liabilities	2,359.7	2,194.7
Accrued payroll and benefits	1,093.9	786.6
Current portion of operating lease liability	1,564.5	1,463.1
Stored value card liability and current portion of deferred revenue	1,840.6	1,781.2
Current portion of long-term debt	1,498.9	1,248.9
Total current liabilities	10,210.4	9,070.0
Long-term debt	14,575.9	14,319.5
Operating lease liability	8,972.2	8,771.6
Deferred revenue	5,772.6	5,963.6
Other long-term liabilities	577.8	656.2
Total liabilities	40,108.9	38,780.9
Shareholders’ deficit:
Common stock ($0.001 par value) - authorized, 2,400.0 shares; issued and outstanding, 1,136.9 and 1,133.5 shares, respectively	1.1	1.1
Additional paid-in capital	634.1	322.6
Retained deficit	(8,272.5)	(7,343.8)
Accumulated other comprehensive income/(loss)	(459.3)	(428.8)
Total shareholders’ deficit	(8,096.6)	(7,448.9)
Noncontrolling interests	7.4	7.3
Total deficit	(8,089.2)	(7,441.6)
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY/(DEFICIT)	32,019.7	31,339.3

Cash flow statement

table #25 · score 55 vs 8.8 runner-up · in millions

Fiscal Year Ended	Sep 28,2025	Sep 29,2024	Oct 1,2023
OPERATING ACTIVITIES:
Net earnings including noncontrolling interests	1,856.7	3,762.3	4,124.7
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	1,771.5	1,592.4	1,450.3
Deferred income taxes, net	(90.6)	(13.8)	(59.4)
Income earned from equity method investees, net	(274.2)	(306.4)	(301.8)
Distributions received from equity method investees	294.4	333.3	222.8
Gain on sale of assets	-	-	(91.3)
Stock-based compensation	318.3	308.3	302.7
Non-cash lease costs	1,513.8	1,314.9	1,365.9
Loss on disposal, impairment, and accelerated amortization of assets	834.7	121.5	101.4
Other	17.3	31.9	26.8
Cash provided by/(used in) changes in operating assets and liabilities:
Accounts receivable	(89.7)	18.4	(4.1)
Inventories	(408.4)	42.8	366.4
Income taxes payable	103.8	(61.9)	52.5
Accounts payable	261.0	28.0	100.1
Deferred revenue	(120.7)	(72.2)	(110.8)
Operating lease liability	(1,576.7)	(1,294.9)	(1,443.8)
Other operating assets and liabilities	336.3	291.0	(93.7)
Net cash provided by operating activities	4,747.5	6,095.6	6,008.7
INVESTING ACTIVITIES:
Purchases of investments	(333.6)	(627.5)	(610.5)
Sales of investments	1.1	10.3	2.5
Maturities and calls of investments	391.8	768.2	616.9
Additions to property, plant and equipment	(2,305.5)	(2,777.5)	(2,333.6)
Acquisitions, net of cash acquired	(177.1)	-	-
Proceeds from sale of assets	-	-	110.0
Other	(62.1)	(72.7)	(56.1)
Net cash used in investing activities	(2,485.4)	(2,699.2)	(2,270.8)
FINANCING ACTIVITIES:
Net (payments)/proceeds from issuance of commercial paper	-	-	(175.0)
Net proceeds from issuance of short-term debt	2.4	123.8	114.6
Repayments of short-term debt	(7.8)	(157.5)	(78.8)
Net proceeds from issuance of long-term debt	1,748.5	1,995.3	1,497.8
Repayments of long-term debt	(1,250.0)	(1,825.1)	(1,000.0)
Proceeds from issuance of common stock	77.0	108.0	167.4
Cash dividends paid	(2,771.4)	(2,585.0)	(2,431.8)
Repurchase of common stock	-	(1,266.7)	(984.4)
Minimum tax withholdings on share-based awards	(87.4)	(100.4)	(89.3)
Other	(9.3)	(10.6)	(11.1)
Net cash used in financing activities	(2,298.0)	(3,718.2)	(2,990.6)
Effect of exchange rate changes on cash and cash equivalents	(30.5)	56.5	(14.2)
Net increase/(decrease) in cash and cash equivalents	(66.4)	(265.3)	733.1
CASH AND CASH EQUIVALENTS:
Beginning of period	3,286.2	3,551.5	2,818.4
End of period	3,219.8	3,286.2	3,551.5
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid during the period for:
Interest, net of capitalized interest	588.3	570.7	524.3
Income taxes	715.6	1,373.3	1,294.2