Analysis of Long-term (Investment) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
Starbucks Corp., long-term (investment) activity ratios
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).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Starbucks Corp. net fixed asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Starbucks Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 and from 2022 to 2023. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Starbucks Corp. total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Net Fixed Asset Turnover
Starbucks Corp., net fixed asset turnover calculation, comparison to benchmarks
| Oct 1, 2023 | Oct 2, 2022 | Oct 3, 2021 | Sep 27, 2020 | Sep 29, 2019 | Sep 30, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Net revenues | 35,975,600) | 32,250,300) | 29,060,600) | 23,518,000) | 26,508,600) | 24,719,500) | |
| Property, plant and equipment, net | 7,387,100) | 6,560,500) | 6,369,500) | 6,241,400) | 6,431,700) | 5,929,100) | |
| Long-term Activity Ratio | |||||||
| Net fixed asset turnover1 | 4.87 | 4.92 | 4.56 | 3.77 | 4.12 | 4.17 | |
| Benchmarks | |||||||
| Net Fixed Asset Turnover, Competitors2 | |||||||
| Airbnb Inc. | 61.98 | 69.41 | 38.27 | 12.50 | — | — | |
| Booking Holdings Inc. | 27.25 | 25.55 | 13.33 | 8.99 | 20.41 | — | |
| Chipotle Mexican Grill Inc. | 4.55 | 4.43 | 4.27 | 3.78 | 3.83 | — | |
| McDonald’s Corp. | 0.95 | 0.92 | 0.94 | 0.77 | 0.87 | — | |
| Net Fixed Asset Turnover, Sector | |||||||
| Consumer Services | 2.76 | 2.59 | 2.27 | 1.74 | 2.08 | — | |
| Net Fixed Asset Turnover, Industry | |||||||
| Consumer Discretionary | 3.50 | 3.47 | 3.31 | 3.37 | 3.71 | — | |
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).
1 2023 Calculation
Net fixed asset turnover = Net revenues ÷ Property, plant and equipment, net
= 35,975,600 ÷ 7,387,100 = 4.87
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Starbucks Corp. net fixed asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Starbucks Corp., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks
| Oct 1, 2023 | Oct 2, 2022 | Oct 3, 2021 | Sep 27, 2020 | Sep 29, 2019 | Sep 30, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Net revenues | 35,975,600) | 32,250,300) | 29,060,600) | 23,518,000) | 26,508,600) | 24,719,500) | |
| Property, plant and equipment, net | 7,387,100) | 6,560,500) | 6,369,500) | 6,241,400) | 6,431,700) | 5,929,100) | |
| Operating lease, right-of-use asset | 8,412,600) | 8,015,600) | 8,236,000) | 8,134,100) | —) | —) | |
| Property, plant and equipment, net (including operating lease, right-of-use asset) | 15,799,700) | 14,576,100) | 14,605,500) | 14,375,500) | 6,431,700) | 5,929,100) | |
| Long-term Activity Ratio | |||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 2.28 | 2.21 | 1.99 | 1.64 | 4.12 | 4.17 | |
| Benchmarks | |||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | |||||||
| Airbnb Inc. | 35.54 | 32.43 | 13.98 | 5.16 | — | — | |
| Booking Holdings Inc. | 14.35 | 13.01 | 8.31 | 5.29 | 11.09 | — | |
| Chipotle Mexican Grill Inc. | 1.72 | 1.64 | 1.54 | 1.38 | 1.41 | — | |
| McDonald’s Corp. | 0.66 | 0.64 | 0.61 | 0.50 | 0.56 | — | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | |||||||
| Consumer Services | 1.66 | 1.55 | 1.29 | 0.99 | 1.39 | — | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | |||||||
| Consumer Discretionary | 2.68 | 2.66 | 2.51 | 2.57 | 3.13 | — | |
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).
1 2023 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Net revenues ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= 35,975,600 ÷ 15,799,700 = 2.28
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Starbucks Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 and from 2022 to 2023. |
Total Asset Turnover
Starbucks Corp., total asset turnover calculation, comparison to benchmarks
| Oct 1, 2023 | Oct 2, 2022 | Oct 3, 2021 | Sep 27, 2020 | Sep 29, 2019 | Sep 30, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Net revenues | 35,975,600) | 32,250,300) | 29,060,600) | 23,518,000) | 26,508,600) | 24,719,500) | |
| Total assets | 29,445,500) | 27,978,400) | 31,392,600) | 29,374,500) | 19,219,600) | 24,156,400) | |
| Long-term Activity Ratio | |||||||
| Total asset turnover1 | 1.22 | 1.15 | 0.93 | 0.80 | 1.38 | 1.02 | |
| Benchmarks | |||||||
| Total Asset Turnover, Competitors2 | |||||||
| Airbnb Inc. | 0.48 | 0.52 | 0.44 | 0.32 | — | — | |
| Booking Holdings Inc. | 0.88 | 0.67 | 0.46 | 0.31 | 0.70 | — | |
| Chipotle Mexican Grill Inc. | 1.23 | 1.25 | 1.13 | 1.00 | 1.09 | — | |
| McDonald’s Corp. | 0.45 | 0.46 | 0.43 | 0.36 | 0.44 | — | |
| Total Asset Turnover, Sector | |||||||
| Consumer Services | 0.74 | 0.71 | 0.59 | 0.49 | 0.73 | — | |
| Total Asset Turnover, Industry | |||||||
| Consumer Discretionary | 0.97 | 0.96 | 0.88 | 0.84 | 0.94 | — | |
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).
1 2023 Calculation
Total asset turnover = Net revenues ÷ Total assets
= 35,975,600 ÷ 29,445,500 = 1.22
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Starbucks Corp. total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Equity Turnover
Starbucks Corp., equity turnover calculation, comparison to benchmarks
| Oct 1, 2023 | Oct 2, 2022 | Oct 3, 2021 | Sep 27, 2020 | Sep 29, 2019 | Sep 30, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Net revenues | 35,975,600) | 32,250,300) | 29,060,600) | 23,518,000) | 26,508,600) | 24,719,500) | |
| Shareholders’ equity (deficit) | (7,994,800) | (8,706,600) | (5,321,200) | (7,805,100) | (6,232,200) | 1,169,500) | |
| Long-term Activity Ratio | |||||||
| Equity turnover1 | — | — | — | — | — | 21.14 | |
| Benchmarks | |||||||
| Equity Turnover, Competitors2 | |||||||
| Airbnb Inc. | 1.21 | 1.51 | 1.25 | 1.16 | — | — | |
| Booking Holdings Inc. | — | 6.14 | 1.77 | 1.39 | 2.54 | — | |
| Chipotle Mexican Grill Inc. | 3.22 | 3.65 | 3.29 | 2.96 | 3.32 | — | |
| McDonald’s Corp. | — | — | — | — | — | — | |
| Equity Turnover, Sector | |||||||
| Consumer Services | — | — | 23.06 | — | — | — | |
| Equity Turnover, Industry | |||||||
| Consumer Discretionary | 3.86 | 4.21 | 3.74 | 4.82 | 5.84 | — | |
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).
1 2023 Calculation
Equity turnover = Net revenues ÷ Shareholders’ equity (deficit)
= 35,975,600 ÷ -7,994,800 = —
2 Click competitor name to see calculations.