Stock Analysis on Net
Stock Analysis on Net

Starbucks Corp. (NASDAQ:SBUX)

Common-Size Income Statement

Starbucks Corp., common-size consolidated income statement

Microsoft Excel
12 months ended: Oct 1, 2023 Oct 2, 2022 Oct 3, 2021 Sep 27, 2020 Sep 29, 2019 Sep 30, 2018
Company-operated stores 81.90 82.41 84.67 81.49 81.27 79.65
Licensed stores 12.54 11.33 9.23 9.89 10.85 10.73
Other 5.56 6.26 6.09 8.62 7.88 9.62
Net revenues 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Product and distribution costs -31.71 -31.99 -30.07 -32.72 -32.17 -41.16
Wages and benefits -24.28 -25.29 -24.05 -26.07 -22.41 0.00
Occupancy costs -7.98 -8.29 -8.81 -10.15 -9.10 0.00
Other expenses -8.66 -8.47 -8.19 -9.54 -8.08 0.00
Store operating expenses (legacy) 0.00 0.00 0.00 0.00 0.00 -29.10
Store operating expenses -40.92% -42.05% -41.06% -45.77% -39.59% -29.10%
Cost of revenues -72.63% -74.04% -71.13% -78.49% -71.75% -70.26%
Gross profit 27.37% 25.96% 28.87% 21.51% 28.25% 29.74%
Other operating expenses -1.50 -1.43 -1.24 -1.83 -1.40 -2.18
Depreciation and amortization expenses -3.79 -4.49 -4.96 -6.09 -5.20 -5.04
General and administrative expenses -6.79 -6.30 -6.65 -7.14 -6.88 -7.12
Restructuring and impairments -0.06 -0.14 -0.59 -1.19 -0.51 -0.91
Income from equity investees 0.83 0.73 1.33 1.37 1.12 1.22
Gain from sale of assets 0.25 0.00 0.00 0.00 0.00 0.00
Operating income 16.32% 14.32% 16.77% 6.64% 15.38% 15.71%
Gain resulting from acquisition of joint venture 0.00 0.00 0.00 0.00 0.00 5.57
Net gain resulting from divestiture of certain operations 0.00 0.00 2.97 0.00 2.35 2.02
Interest income and other, net 0.23 0.30 0.31 0.17 0.36 0.77
Interest expense -1.53 -1.50 -1.62 -1.86 -1.25 -0.69
Earnings before income taxes 15.02% 13.12% 18.43% 4.95% 16.85% 23.38%
Income tax expense -3.55 -2.94 -3.98 -1.02 -3.29 -5.11
Net earnings including noncontrolling interests 11.47% 10.18% 14.45% 3.93% 13.56% 18.28%
Net (earnings) loss attributable to noncontrolling interests 0.00 -0.01 0.00 0.02 0.02 0.00
Net earnings attributable to Starbucks 11.46% 10.18% 14.45% 3.95% 13.58% 18.28%

Based on: 10-K (reporting date: 2023-10-01), 10-K (reporting date: 2022-10-02), 10-K (reporting date: 2021-10-03), 10-K (reporting date: 2020-09-27), 10-K (reporting date: 2019-09-29), 10-K (reporting date: 2018-09-30).

Income statement item Description The company
Operating income The net result for the period of deducting operating expenses from operating revenues. Starbucks Corp. operating income as a percentage of net revenues decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.
Earnings before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Starbucks Corp. earnings before income taxes as a percentage of net revenues decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.
Net earnings attributable to Starbucks The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Starbucks Corp. net earnings attributable to Starbucks as a percentage of net revenues decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.