Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
EV to EBITDA Ratio, Current
EV to EBITDA Ratio, Historical

Starbucks Corp., EBITDA calculation

US$ in thousands

12 months ended:	Sep 29, 2024	Oct 1, 2023	Oct 2, 2022	Oct 3, 2021	Sep 27, 2020	Sep 29, 2019
Net earnings attributable to Starbucks	3,760,900)	4,124,500)	3,281,600)	4,199,300)	928,300)	3,599,200)
Add: Net income attributable to noncontrolling interest	1,400)	200)	1,800)	1,000)	(3,600)	(4,600)
Add: Income tax expense	1,207,300)	1,277,200)	948,500)	1,156,600)	239,700)	871,600)
Earnings before tax (EBT)	4,969,600)	5,401,900)	4,231,900)	5,356,900)	1,164,400)	4,466,200)
Add: Interest expense	562,000)	550,100)	482,900)	469,800)	437,000)	331,000)
Earnings before interest and tax (EBIT)	5,531,600)	5,952,000)	4,714,800)	5,826,700)	1,601,400)	4,797,200)
Add: Depreciation and amortization	1,592,400)	1,450,300)	1,529,400)	1,524,100)	1,503,200)	1,449,300)
Earnings before interest, tax, depreciation and amortization (EBITDA)	7,124,000)	7,402,300)	6,244,200)	7,350,800)	3,104,600)	6,246,500)

Based on: 10-K (reporting date: 2024-09-29), 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).

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Item	Description	The company
EBITDA	To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital.	Starbucks Corp. EBITDA increased from 2022 to 2023 but then slightly decreased from 2023 to 2024.

Starbucks Corp., current EV/EBITDA calculation, comparison to benchmarks

Selected Financial Data (US$ in thousands)
Enterprise value (EV)	111,772,887)
Earnings before interest, tax, depreciation and amortization (EBITDA)	7,124,000)
Valuation Ratio
EV/EBITDA	15.69
Benchmarks
EV/EBITDA, Competitors¹
Airbnb Inc.	34.55
Booking Holdings Inc.	24.51
Chipotle Mexican Grill Inc.	—
McDonald’s Corp.	17.75
EV/EBITDA, Sector
Consumer Services	18.62
EV/EBITDA, Industry
Consumer Discretionary	24.02

Based on: 10-K (reporting date: 2024-09-29).

¹ Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.

Starbucks Corp., historical EV/EBITDA calculation, comparison to benchmarks

	Sep 29, 2024	Oct 1, 2023	Oct 2, 2022	Oct 3, 2021	Sep 27, 2020	Sep 29, 2019
Selected Financial Data (US$ in thousands)
Enterprise value (EV)¹	123,439,688)	131,421,619)	124,120,910)	137,971,696)	121,059,261)	107,863,110)
Earnings before interest, tax, depreciation and amortization (EBITDA)²	7,124,000)	7,402,300)	6,244,200)	7,350,800)	3,104,600)	6,246,500)
Valuation Ratio
EV/EBITDA³	17.33	17.75	19.88	18.77	38.99	17.27
Benchmarks
EV/EBITDA, Competitors⁴
Airbnb Inc.	—	40.65	36.61	338.63	—	—
Booking Holdings Inc.	—	19.60	19.20	45.39	73.17	10.49
Chipotle Mexican Grill Inc.	—	36.37	29.62	40.00	79.87	34.03
McDonald’s Corp.	—	18.04	20.87	17.49	21.03	17.65
EV/EBITDA, Sector
Consumer Services	—	20.97	22.11	25.46	59.23	16.04
EV/EBITDA, Industry
Consumer Discretionary	—	17.94	19.55	21.16	29.01	17.75

Based on: 10-K (reporting date: 2024-09-29), 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).

¹ See details »

² See details »

³ 2024 Calculation
EV/EBITDA = EV ÷ EBITDA
= 123,439,688 ÷ 7,124,000 = 17.33

⁴ Click competitor name to see calculations.

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Valuation ratio	Description	The company
EV/EBITDA	Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock.	Starbucks Corp. EV/EBITDA ratio decreased from 2022 to 2023 and from 2023 to 2024.

Starbucks Corp. (NASDAQ:SBUX)

Enterprise Value to EBITDA (EV/EBITDA)

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Enterprise Value to EBITDA Ratio, Current

Enterprise Value to EBITDA Ratio, Historical