SBUX Starbucks Corporation - Common Stock

NASDAQ · Hotels, Restaurants & Leisure · View on SEC EDGAR ↗

$106.65

Price · May 20, 2026

Fundamentals as of Apr 28, 2026

SBUX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price

$106.64

Market Cap

$94.81B

P/E (TTM)

51.2

EPS (TTM)

$1.63

Revenue (TTM)

$37.18B

Div Yield

2.9%

ROE

-23.9%

Debt/Equity

-2.0

52W Range

$78 – $109

SBUX Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income $37.18B

2016-10-02 → 2025-09-28

EPS $1.63

2016-10-02 → 2025-09-28

Free Cash Flow $2.44B

2016-10-02 → 2025-09-28

Margins 5.0%

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric

5Y trend

SBUX

Peer Median

P/E (TTM)

51.2

28.5

P/S (TTM)

2.5

3.3

P/B

-11.7

10.3

Price / FCF

38.8

—

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric

5Y trend

SBUX

Peer Median

Operating Margin

7.9%

—

Net Profit Margin

5.0%

8.4%

ROA

5.9%

11.1%

ROE

-23.9%

39.4%

ROIC

27.3%

—

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric

5Y trend

SBUX

Peer Median

Debt / Equity

-2.0

28.7

Current Ratio

0.7

1.1

Quick Ratio

0.1

—

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric

5Y trend

SBUX

Peer Median

Revenue YoY

2.8%

—

Revenue CAGR 3Y

4.9%

—

Revenue CAGR 5Y

9.6%

—

EPS YoY

-50.8%

—

Net Income YoY

-50.6%

—

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric

5Y trend

SBUX

Peer Median

EPS (Diluted)

$1.63

—

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric

5Y trend

SBUX

Peer Median

Payout Ratio

149.3%

—

Dividends Yield, payout ratio, dividend history, 5Y CAGR

Dividend Yield

2.9%

Payout Ratio

149.3%

5Y Div CAGR

—

Ex-date	Amount
May 15, 2026	$0.6200
Feb. 13, 2026	$0.6200
Nov. 14, 2025	$0.6200
Aug. 15, 2025	$0.6100
May 16, 2025	$0.6100
Feb. 14, 2025	$0.6100
Nov. 15, 2024	$0.6100
Aug. 16, 2024	$0.5700
May 16, 2024	$0.5700
Feb. 8, 2024	$0.5700
Nov. 9, 2023	$0.5700
Aug. 10, 2023	$0.5300
May 11, 2023	$0.5300
Feb. 9, 2023	$0.5300
Nov. 9, 2022	$0.5300
Aug. 11, 2022	$0.4900
May 12, 2022	$0.4900
Feb. 10, 2022	$0.4900
Nov. 10, 2021	$0.4900
Aug. 11, 2021	$0.4500

SBUX Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

BUY 49 analysts

Strong Buy 9 18.4%
Buy 14 28.6%
Hold 21 42.9%
Sell 4 8.2%
Strong Sell 1 2.0%

12-Month Price Target

33 analysts · 2026-05-18

Median $110.00

Now $106.64

Low $81.00

High $137.00

Median target $110.00 +3.1%

Mean target $106.58 -0.1%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise

-0.03%

Period	EPS Actual	EPS Est	Surprise
March 31, 2026	$0.50	$0.44	0.06%
Dec. 31, 2025	$0.56	$0.60	-0.04%
Sept. 30, 2025	$0.52	$0.57	-0.05%
June 30, 2025	$0.61	$0.66	-0.05%
March 31, 2025	$0.41	$0.50	-0.09%

Peer Comparison Key metrics vs sector peers

Ticker	Market Cap	P/E	Rev YoY	Net Margin	ROE	Gross Margin
SBUX	$94.81B	51.2	2.8%	5.0%	-23.9%	—
MCD	—	25.6	3.7%	31.9%	-376.3%	—
DASH	—	106.3	27.9%	6.8%	—	—
CMG	—	32.5	5.4%	12.9%	48.3%	—
YUM	—	27.3	8.8%	19.0%	-20.8%	—
QSR	$23.63B	29.0	12.2%	11.4%	31.9%	—
DRI	$23.87B	23.0	6.0%	8.7%	46.5%	20.5%
ARMK	$10.25B	32.0	6.3%	1.8%	10.6%	—
TXRH	$11.03B	27.4	9.4%	7.0%	29.4%	—
DPZ	$14.31B	24.2	5.0%	12.2%	-15.3%	40.0%
CAVA	$6.99B	111.4	22.4%	5.4%	8.3%	—

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 14

Annual Income Statement data for SBUX
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Revenue	$37.18B	$36.18B	$35.98B	$32.25B	$29.06B	$23.52B	$26.51B	$24.72B	$22.39B	$21.32B	$19.16B	$16.45B
Cost of Revenue	·	·	·	·	·	·	$8.53B	$7.93B	$7.07B	$8.51B	$7.79B	$6.86B
SG&A Expense	$2.62B	$2.52B	$2.44B	$2.03B	$1.93B	$1.68B	$1.82B	$1.71B	$1.41B	$1.41B	$1.20B	$991M
Operating Expenses	$34.50B	$31.07B	$30.49B	$27.87B	$24.57B	$22.28B	$22.73B	$21.14B	$18.64B	$17.46B	$15.81B	$13.63B
Operating Income	$2.94B	$5.41B	$5.87B	$4.62B	$4.87B	$1.56B	$4.08B	$3.88B	$4.13B	$4.17B	$3.60B	$3.08B
Interest Expense	$543M	$562M	$550M	$483M	$470M	$437M	$331M	$170M	$92M	$81M	$70M	$64M
Pretax Income	$2.51B	$4.97B	$5.40B	$4.23B	$5.36B	$1.16B	$4.47B	$5.78B	$4.32B	$4.20B	$3.90B	$3.16B
Income Tax	$651M	$1.21B	$1.28B	$948M	$1.16B	$240M	$872M	$1.26B	$1.43B	$1.38B	$1.14B	$1.09B
Net Income	$1.86B	$3.76B	$4.12B	$3.28B	$4.20B	$928M	$3.60B	$4.52B	$2.88B	$2.82B	$2.76B	$2.07B
EPS (Basic)	$1.63	$3.32	$3.60	$2.85	$3.57	$0.79	$2.95	$3.27	$1.99	$1.91	$1.84	$1.37
EPS (Diluted)	$1.63	$3.31	$3.58	$2.83	$3.54	$0.79	$2.92	$3.24	$1.97	$1.90	$1.82	$1.35
Shares (Basic)	1,136,000,000	1,133,800,000	1,146,800,000	1,153,300,000	1,177,600,000	1,172,800,000	1,221,200,000	1,382,700,000	1,449,500,000	1,471,600,000	1,495,900,000	1,506,300,000
Shares (Diluted)	1,139,800,000	1,137,300,000	1,151,300,000	1,158,500,000	1,185,500,000	1,181,800,000	1,233,200,000	1,394,600,000	1,461,500,000	1,486,700,000	1,513,400,000	1,526,300,000
EBITDA	$4.71B	$7.00B	$7.32B	$6.15B	$6.40B	$3.06B	$5.53B	$5.19B	$5.20B	$5.20B	$4.53B	$3.83B

Balance Sheet 29

Annual Balance Sheet data for SBUX
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Cash & Equivalents	·	·	·	·	$6.46B	$4.35B	$2.69B	$8.76B	$2.46B	$2.13B	$1.53B	$1.71B
Short-term Investments	$247M	$257M	$402M	$364M	$162M	$281M	$70M	$182M	$229M	$134M	$81M	$135M
Receivables	$1.28B	$1.21B	$1.18B	$1.18B	$940M	$883M	$879M	$693M	$870M	$769M	$719M	$631M
Inventory	$2.19B	$1.78B	$1.81B	$2.18B	$1.60B	$1.55B	$1.53B	$1.40B	$1.36B	$1.38B	$1.31B	$1.09B
Prepaid Expense	$452M	$313M	$360M	$484M	$595M	$740M	$488M	$1.46B	$358M	$347M	$334M	$286M
Current Assets	$7.38B	$6.85B	$7.30B	$7.02B	$9.76B	$7.81B	$5.65B	$12.49B	$5.28B	$4.76B	$3.97B	$4.17B
PP&E (Net)	$8.49B	$8.67B	$7.39B	$6.56B	$6.37B	$6.24B	$6.43B	$5.93B	$4.92B	$4.53B	$4.09B	$3.52B
PP&E (Gross)	$19.84B	$19.44B	$17.31B	$15.61B	$14.83B	$14.16B	$14.27B	$13.20B	$11.58B	$10.57B	$9.64B	$8.58B
Accum. Depreciation	$11.35B	$10.78B	$9.92B	$9.05B	$8.46B	$7.91B	$7.84B	$7.27B	$6.66B	$6.04B	$5.55B	$5.06B
Goodwill	$3.37B	$3.32B	$3.22B	$3.28B	$3.68B	$3.60B	$3.49B	$3.54B	$1.54B	$1.72B	$1.58B	$856M
Intangibles	$167M	$101M	$120M	$156M	$350M	$552M	$782M	$1.04B	$441M	$516M	$520M	$274M
Other Non-current Assets	$752M	$617M	$546M	$554M	$578M	$569M	$480M	$412M	$363M	$403M	$416M	$199M
Total Assets	$32.02B	$31.34B	$29.45B	$27.98B	$31.39B	$29.37B	$19.22B	$24.16B	$14.37B	$14.31B	$12.42B	$10.75B
Accounts Payable	$1.85B	$1.60B	$1.54B	$1.44B	$1.21B	$998M	$1.19B	$1.18B	$782M	$731M	$684M	$534M
Accrued Liabilities	$2.36B	$2.19B	$2.15B	$2.14B	$2.32B	$1.16B	$1.75B	$1.75B	$1.93B	$2.00B	$1.76B	$1.51B
Short-term Debt	·	$0	$34M	$175M	$0	$439M	$0	$0	$0	$0	$0	·
Current Liabilities	$10.21B	$9.07B	$9.35B	$9.15B	$8.15B	$7.35B	$6.17B	$5.68B	$4.22B	$4.55B	$3.65B	$3.04B
Capital Leases	$8.97B	$8.77B	$7.92B	$7.52B	$7.74B	$7.66B	$0	·	·	·	·	·
Deferred Tax	$50M	$21M	$15M	$119M	$148M	$158M	$-186M	$270M	$6M	$15M	$43M	$7M
Other Non-current Liabilities	·	·	·	·	·	·	·	·	$749M	$690M	$601M	$392M
Total Liabilities	$40.11B	$38.78B	$37.43B	$36.68B	$36.71B	$37.17B	$25.45B	$22.98B	$8.91B	$8.42B	$6.60B	$5.48B
Long-term Debt	$16.07B	$15.57B	$15.37B	$14.87B	$14.62B	$15.91B	$11.17B	$9.44B	$3.93B	$3.59B	$2.35B	$2.05B
Total Debt	$16.07B	$15.57B	$15.40B	$15.04B	$14.62B	$16.35B	$11.17B	$9.44B	$3.93B	$3.60B	$2.35B	$2.05B
Common Stock	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$2M	$2M	$700.0K
Retained Earnings	$-8.27B	$-7.34B	$-7.26B	$-8.45B	$-6.32B	$-7.82B	$-5.77B	$1.46B	$5.56B	$5.95B	$5.97B	$5.21B
AOCI	$-459M	$-429M	$-778M	$-463M	$147M	$-365M	$-503M	$-330M	$-156M	$-108M	$-199M	$25M
Stockholders' Equity	$-8.10B	$-7.45B	$-7.99B	$-8.71B	$-5.32B	$-7.81B	$-6.23B	$1.17B	$5.45B	$5.88B	$5.82B	$5.27B
Liabilities + Equity	$32.02B	$31.34B	$29.45B	$27.98B	$31.39B	$29.37B	$19.22B	$24.16B	$14.37B	$14.31B	$12.42B	$10.75B
Shares Outstanding	1,136,900,000	1,133,500,000	1,142,600,000	1,147,900,000	1,180,000,000	1,173,300,000	1,184,600,000	1,309,100,000	1,431,600,000	1,460,500,000	1,485,100,000	749,500,000

Cash Flow 20

Annual Cash Flow data for SBUX
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
D&A	$1.77B	$1.59B	$1.45B	$1.53B	$1.52B	$1.50B	$1.45B	$1.31B	$1.07B	$1.03B	$934M	$748M
Stock-based Comp	$318M	$308M	$303M	$272M	$319M	$249M	$308M	$250M	$176M	$218M	$210M	$183M
Deferred Tax	$-91M	$-14M	$-59M	$-38M	$-146M	$-26M	$-1.50B	$715M	$95M	$266M	$21M	$10M
Amort. of Intangibles	$18M	$20M	$22M	$193M	$223M	$224M	$233M	$186M	$58M	$57M	$50M	$9M
Restructuring	·	·	$22M	$46M	$155M	$255M	·	$224M	$154M	$0	$0	·
Other Non-cash	$892M	$448M	$191M	$-647M	$93M	$-1.06B	$1.19B	$5.15B	$-49M	$244M	$-173M	$-2.40B
Operating Cash Flow	$4.75B	$6.10B	$6.01B	$4.40B	$5.99B	$1.60B	$5.05B	$11.94B	$4.25B	$4.70B	$3.75B	$608M
CapEx	$2.31B	$2.78B	$2.33B	$1.84B	$1.47B	$1.48B	$1.81B	$1.98B	$1.52B	$1.44B	$1.30B	$1.16B
Investing Cash Flow	$-2.49B	$-2.70B	$-2.27B	$-2.15B	$-320M	$-1.71B	$-1.01B	$-2.36B	$-850M	$-2.22B	$-1.52B	$-818M
Debt Issued	$1.75B	$2.00B	$1.50B	$1.50B	$0	$4.73B	$2.00B	$5.58B	$750M	$1.25B	$848M	$748M
Net Debt Issued	$498M	$170M	$498M	$498M	$-1.25B	$4.73B	$1.65B	$5.58B	$350M	$1.25B	$238M	$748M
Stock Issued	$77M	$108M	$167M	$102M	$246M	$299M	$410M	$154M	$151M	$161M	$192M	$140M
Stock Repurchased	$0	$1.27B	$984M	$4.01B	$0	$1.70B	$10.22B	$7.13B	$2.04B	$2.00B	$1.44B	$759M
Net Stock Activity	$77M	$-1.16B	$-817M	$-3.91B	$246M	$-1.40B	$-9.81B	$-6.98B	$-1.89B	$-1.83B	$-1.24B	$-619M
Dividends Paid	$2.77B	$2.58B	$2.43B	$2.26B	$2.12B	$1.92B	$1.76B	$1.74B	$1.45B	$1.18B	$929M	$783M
Financing Cash Flow	$-2.30B	$-3.72B	$-2.99B	$-5.64B	$-3.65B	$1.71B	$-10.06B	$-3.24B	$-3.08B	$-1.87B	$-2.26B	$-623M
Net Change in Cash	$-66M	$-265M	$733M	$-3.64B	$2.10B	$1.66B	$-6.07B	$6.29B	$334M	$599M	$-178M	$-867M
Taxes Paid	$716M	$1.37B	$1.29B	$1.16B	$756M	$1.70B	$470M	$1.18B	$1.39B	$879M	$1.07B	$766M
Free Cash Flow	$2.44B	$3.32B	$3.68B	$2.56B	$4.52B	$114M	$3.24B	$9.96B	$2.65B	$3.13B	$2.45B	$-553M
Levered FCF	$2.04B	$2.89B	$3.26B	$2.18B	$4.15B	$-233M	$2.97B	$9.83B	$2.59B	$3.08B	$2.40B	$-595M

Profitability 7

Annual Profitability data for SBUX
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Operating Margin	7.9%	14.9%	16.3%	14.3%	16.8%	6.6%	15.4%	15.7%	18.5%	19.6%	18.8%	18.7%
Net Margin	5.0%	10.4%	11.5%	10.2%	14.4%	4.0%	13.6%	18.3%	12.9%	13.2%	14.4%	12.6%
Pretax Margin	6.7%	13.7%	15.0%	13.1%	18.4%	5.0%	16.9%	23.4%	19.3%	19.7%	20.4%	19.2%
EBITDA Margin	12.7%	19.4%	20.3%	19.1%	22.0%	13.0%	20.8%	21.0%	23.2%	24.4%	23.7%	23.3%
ROA	5.9%	12.4%	14.4%	11.1%	13.8%	3.8%	16.6%	23.5%	20.1%	21.1%	23.8%	18.6%
ROE	-23.9%	-48.7%	-49.4%	-46.8%	-64.0%	-13.2%	-142.2%	136.5%	50.9%	48.2%	49.7%	42.4%
ROIC	27.3%	50.4%	60.5%	56.5%	41.1%	14.5%	66.5%	28.6%	29.4%	29.5%	31.2%	27.5%

Liquidity & Solvency 5

Annual Liquidity & Solvency data for SBUX
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Current Ratio	0.7	0.8	0.8	0.8	1.2	1.1	0.9	2.2	1.3	1.0	1.2	1.4
Quick Ratio	0.1	0.2	0.2	0.2	0.9	0.8	0.6	1.7	0.8	0.7	0.6	0.8
Debt / Equity	-2.0	-2.1	-1.9	-1.7	-2.7	-2.1	-1.8	8.1	0.7	0.6	0.4	0.4
LT Debt / Equity	-1.8	-1.9	-1.7	-1.5	-2.6	-1.9	-1.8	7.8	0.7	0.5	0.4	0.4
Interest Coverage	5.4	9.6	10.7	9.6	10.4	3.6	12.3	22.8	44.7	51.3	51.1	48.1

Efficiency 3

Annual Efficiency data for SBUX
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Asset Turnover	1.2	1.2	1.3	1.1	1.0	1.0	1.2	1.3	1.6	1.6	1.7	1.5
Inventory Turnover	·	·	·	·	·	·	5.8	7.5	6.6	6.3	6.3	6.5
Receivables Turnover	29.9	30.2	30.5	30.5	31.9	26.7	33.7	31.6	27.3	28.7	28.4	27.6

Per Share 6

Annual Per Share data for SBUX
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Book Value / Share	$-7.12	$-6.57	$-7.00	$-7.58	$-4.51	$-6.65	$-5.26	$0.89	$3.81	$4.03	$3.92	$7.03
Revenue / Share	$32.62	$31.81	$31.25	$27.84	$24.51	$19.90	$21.50	$17.73	$15.32	$14.34	$12.66	$21.55
Cash Flow / Share	$4.17	$5.36	$5.22	$3.80	$5.05	$1.35	$4.09	$8.56	$2.86	$3.08	$2.48	$0.80
Cash / Share	·	·	·	·	$5.47	$3.71	$2.27	$6.69	$1.72	$1.46	$1.03	$2.28
Dividend / Share	$2	$2	$2	$2	$2	$1	$1	$1	$1	$1	$1	$1
EPS (TTM)	$1.63	$3.31	$3.58	$2.83	$3.54	$0.79	$2.92	$3.24	$1.97	$1.90	$1.82	$1.35

Growth Rates 10

Annual Growth Rates data for SBUX
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Revenue YoY	2.8%	0.56%	11.6%	11.0%	23.6%	·	·	·	·	·	·	·
Revenue CAGR 3Y	4.9%	7.6%	15.2%	·	·	·	·	·	·	·	·	·
Revenue CAGR 5Y	9.6%	·	·	·	·	·	·	·	·	·	·	·
EPS YoY	-50.8%	-7.5%	26.5%	-20.1%	348.1%	·	·	·	·	·	·	·
EPS CAGR 3Y	-16.8%	-2.2%	65.5%	·	·	·	·	·	·	·	·	·
EPS CAGR 5Y	15.6%	·	·	·	·	·	·	·	·	·	·	·
Net Income YoY	-50.6%	-8.8%	25.7%	-21.9%	352.4%	·	·	·	·	·	·	·
Net Income CAGR 3Y	-17.3%	-3.6%	64.4%	·	·	·	·	·	·	·	·	·
Net Income CAGR 5Y	14.9%	·	·	·	·	·	·	·	·	·	·	·
Dividend CAGR 5Y	7.6%	·	·	·	·	·	·	·	·	·	·	·

Valuation (TTM) 16

Annual Valuation (TTM) data for SBUX
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Revenue TTM	$37.18B	$36.18B	$35.98B	$32.25B	$29.06B	$23.52B	$26.51B	$24.72B	$22.39B	$21.32B	$19.16B	$16.45B
Net Income TTM	$1.86B	$3.76B	$4.12B	$3.28B	$4.20B	$928M	$3.60B	$4.52B	$2.88B	$2.82B	$2.76B	$2.07B
Market Cap	$94.81B	$110.36B	$104.29B	$96.72B	$133.25B	$98.91B	$104.68B	$74.41B	$76.89B	$79.07B	$86.12B	$28.17B
Enterprise Value	·	·	·	·	$141.24B	$110.63B	$113.09B	$74.91B	$78.13B	$80.41B	$86.86B	$28.37B
P/E	51.2	29.4	25.5	29.8	31.9	106.7	30.3	17.5	27.3	28.5	31.9	27.8
P/S	2.5	3.1	2.9	3.0	4.6	4.2	3.9	3.0	3.4	3.7	4.5	1.7
P/B	-11.7	-14.8	-13.0	-11.1	-25.0	-12.7	-16.8	63.6	14.1	13.4	14.8	5.3
P / Cash Flow	20.0	18.1	17.4	22.0	22.2	61.9	20.7	6.2	18.4	17.3	23.0	46.3
P / FCF	38.8	33.3	28.4	37.8	29.5	866.1	32.3	7.5	29.0	25.2	35.2	-50.9
EV / EBITDA	·	·	·	·	22.1	36.1	20.5	14.4	15.0	15.5	19.2	7.4
EV / FCF	·	·	·	·	31.3	968.7	34.9	7.5	29.4	25.7	35.5	-51.3
EV / Revenue	·	·	·	·	4.9	4.7	4.3	3.0	3.5	3.8	4.5	1.7
Dividend Yield	2.9%	2.3%	2.3%	2.3%	1.6%	1.9%	1.7%	2.3%	1.9%	1.5%	1.1%	2.8%
Earnings Yield	1.9%	3.4%	3.9%	3.4%	3.1%	0.94%	3.3%	5.7%	3.7%	3.5%	3.1%	3.6%
Payout Ratio	149.3%	68.7%	59.0%	69.0%	50.5%	207.2%	48.9%	38.6%	50.3%	41.8%	33.7%	37.9%
Annual Payout	$2.77B	$2.58B	$2.43B	$2.26B	$2.12B	$1.92B	$1.76B	$1.74B	$1.45B	$1.18B	$929M	$783M

Income Statement 13

Quarterly Income Statement data for SBUX
Metric	Q2 2026	Q1 2025	Q4 2025	Q3 2025	Q2 2025	Q1 2024	Q4 2024	Q3 2024	Q2 2024	Q1 2023	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Revenue	$9.53B	$9.92B	$9.57B	$9.46B	$8.76B	$9.40B	$9.07B	$9.11B	$8.56B	$9.43B	$9.83B	$9.17B	$8.72B	$8.71B	$8.41B	$8.15B
SG&A Expense	$618M	$639M	$642M	$677M	$632M	$666M	$645M	$576M	$655M	$648M	$659M	$604M	$620M	$581M	$538M	$487M
Operating Expenses	$8.75B	$9.08B	$9.38B	$8.58B	$8.22B	$8.32B	$7.87B	$7.67B	$7.53B	$8.00B	$7.92B	$7.65B	$7.54B	$7.52B	$7.31B	$6.91B
Operating Income	$828M	$891M	$278M	$936M	$601M	$1.12B	$1.31B	$1.52B	$1.10B	$1.49B	$2.04B	$1.58B	$1.33B	$1.25B	$1.20B	$1.30B
Interest Expense	$137M	$139M	$146M	$142M	$127M	$127M	$140M	$141M	$141M	$140M	$154M	$141M	$136M	$130M	$125M	$123M
Pretax Income	$728M	$765M	$164M	$819M	$502M	$1.02B	$1.19B	$1.40B	$992M	$1.38B	$1.92B	$1.46B	$1.21B	$1.14B	$1.10B	$1.19B
Income Tax	$217M	$472M	$31M	$260M	$118M	$241M	$284M	$349M	$220M	$355M	$416M	$322M	$301M	$280M	$223M	$278M
Net Income	$511M	$293M	$133M	$558M	$384M	$781M	$909M	$1.05B	$772M	$1.02B	$1.51B	$1.14B	$908M	$855M	$878M	$913M
EPS (Basic)	$0.45	$0.26	$0.11	$0.49	$0.34	$0.69	$0.81	$0.93	$0.68	$0.90	$1.33	$1.00	$0.79	$0.74	$0.76	$0.80
EPS (Diluted)	$0.45	$0.26	$0.11	$0.49	$0.34	$0.69	$0.80	$0.93	$0.68	$0.90	$1.31	$0.99	$0.79	$0.74	$0.77	$0.79
Shares (Basic)	1,139,400,000	1,138,000,000	-2,271,100,000	1,136,400,000	1,136,000,000	1,134,700,000	-2,268,000,000	1,132,800,000	1,132,400,000	1,136,600,000	-2,298,700,000	1,145,900,000	1,148,500,000	1,148,500,000	-2,312,500,000	1,147,000,000
Shares (Diluted)	1,143,200,000	1,141,900,000	-2,278,400,000	1,139,800,000	1,140,000,000	1,138,400,000	-2,274,500,000	1,135,800,000	1,135,400,000	1,140,600,000	-2,307,200,000	1,150,500,000	1,152,700,000	1,152,900,000	-2,323,000,000	1,151,000,000
EBITDA	$828M	$1.32B	·	$936M	$601M	$1.55B	·	$1.52B	$1.10B	·	·	$1.58B	$1.33B	$1.60B	·	$1.30B

Balance Sheet 28

Quarterly Balance Sheet data for SBUX
Metric	Q2 2026	Q1 2025	Q4 2025	Q3 2025	Q2 2025	Q1 2024	Q4 2024	Q3 2024	Q2 2024	Q1 2023	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Cash & Equivalents	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	$3.18B
Short-term Investments	$168M	$185M	$247M	$333M	$340M	$286M	$257M	$212M	$362M	$383M	·	$263M	$379M	$124M	·	$77M
Receivables	$1.29B	$1.22B	$1.28B	$1.24B	$1.15B	$1.24B	$1.21B	$1.15B	$1.11B	$1.17B	·	$1.14B	$1.19B	$1.16B	·	$1.15B
Inventory	$2.16B	$2.11B	$2.19B	$2.26B	$2.05B	$1.73B	$1.78B	$1.85B	$1.74B	$1.65B	·	$1.99B	$2.00B	$2.09B	·	$2.13B
Prepaid Expense	$369M	$374M	$452M	$414M	$500M	$354M	$313M	$416M	$484M	$375M	·	$424M	$409M	$374M	·	$534M
Current Assets	$10.56B	$12.02B	$7.38B	$8.42B	$6.71B	$7.28B	$6.85B	$6.81B	$6.46B	$6.57B	·	$7.17B	$7.05B	$6.93B	·	$7.07B
PP&E (Net)	$7.19B	$7.40B	$8.49B	$8.89B	$8.82B	$8.68B	$8.67B	$8.08B	$7.82B	$7.61B	·	$7.05B	$6.82B	$6.70B	·	$6.41B
PP&E (Gross)	$17.57B	$17.58B	$19.84B	$20.32B	$19.87B	$19.45B	$19.44B	$18.48B	$18.05B	$17.69B	·	$16.74B	$16.45B	$16.06B	·	$15.38B
Accum. Depreciation	$10.38B	$10.18B	$11.35B	$11.43B	$11.05B	$10.77B	$10.78B	$10.40B	$10.24B	$10.08B	·	$9.69B	$9.63B	$9.36B	·	$8.97B
Goodwill	$1.30B	$1.31B	$3.37B	$3.38B	$3.32B	$3.29B	$3.32B	$3.18B	$3.23B	$3.30B	$3.22B	$3.25B	$3.41B	$3.38B	$3.28B	$3.45B
Intangibles	$176M	$167M	$167M	$170M	$169M	$170M	$101M	$106M	$111M	$116M	·	$124M	$131M	$151M	·	$203M
Other Non-current Assets	$818M	$779M	$752M	$674M	$713M	$709M	$617M	$694M	$587M	$531M	·	$542M	$527M	$528M	·	$641M
Total Assets	$30.56B	$32.23B	$32.02B	$33.65B	$31.63B	$31.89B	$31.34B	$30.11B	$29.36B	$29.18B	·	$28.73B	$28.61B	$28.26B	·	$28.16B
Accounts Payable	$1.67B	$1.68B	$1.85B	$1.89B	$1.91B	$1.78B	$1.60B	$1.59B	$1.49B	$1.46B	·	$1.50B	$1.43B	$1.35B	·	$1.49B
Accrued Liabilities	$2.17B	$2.33B	$2.36B	$2.25B	$2.04B	$2.21B	$2.19B	$2.08B	$2.02B	$2.33B	·	$2.06B	$1.97B	$2.09B	·	$2.07B
Short-term Debt	·	·	·	·	·	·	·	$23M	$42M	$350M	·	$34M	$53M	$0	·	$200M
Current Liabilities	$11.45B	$11.49B	$10.21B	$11.14B	$10.43B	$9.73B	$9.07B	$7.65B	$7.53B	$9.40B	·	$9.21B	$9.12B	$9.25B	·	$8.40B
Capital Leases	$8.01B	$8.05B	$8.97B	$9.07B	$8.96B	$8.86B	$8.77B	$8.30B	$8.18B	$8.14B	·	$7.69B	$7.75B	$7.64B	·	$7.55B
Deferred Tax	·	·	$50M	·	·	·	$21M	·	·	·	·	·	·	·	·	·
Total Liabilities	$39.02B	$40.61B	$40.11B	$41.33B	$39.25B	$39.36B	$38.78B	$38.05B	$37.81B	$37.79B	·	$37.07B	$37.11B	$36.92B	·	$36.82B
Long-term Debt	$15.08B	$16.08B	$16.07B	$17.32B	$15.57B	$15.56B	$15.57B	$15.55B	$15.55B	$14.67B	·	$15.38B	$15.43B	$14.93B	·	$14.93B
Total Debt	$15.08B	$16.08B	·	$17.32B	$15.57B	$15.56B	·	$15.57B	$15.59B	·	·	$15.41B	$15.49B	$14.93B	·	$15.13B
Common Stock	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$1M	·	$1M	$1M	$1M	·	$1M
Retained Earnings	$-8.88B	$-8.69B	$-8.27B	$-7.70B	$-7.57B	$-7.26B	$-7.34B	$-7.56B	$-7.97B	$-8.10B	·	$-7.61B	$-8.02B	$-8.20B	·	$-8.72B
AOCI	$-417M	$-426M	$-459M	$-535M	$-529M	$-584M	$-429M	$-608M	$-622M	$-558M	·	$-778M	$-522M	$-539M	·	$-65M
Stockholders' Equity	$-8.47B	$-8.39B	$-8.10B	$-7.69B	$-7.62B	$-7.47B	$-7.45B	$-7.95B	$-8.45B	$-8.62B	·	$-8.35B	$-8.51B	$-8.67B	·	$-8.67B
Liabilities + Equity	$30.56B	$32.23B	$32.02B	$33.65B	$31.63B	$31.89B	$31.34B	$30.11B	$29.36B	$29.18B	·	$28.73B	$28.61B	$28.26B	·	$28.16B
Shares Outstanding	1,139,500,000	1,139,100,000	1,136,900,000	1,136,500,000	1,136,200,000	1,135,800,000	1,133,500,000	1,133,100,000	1,132,700,000	1,132,200,000	1,142,600,000	1,145,400,000	1,147,000,000	1,148,500,000	1,147,900,000	1,147,300,000

Cash Flow 19

Quarterly Cash Flow data for SBUX
Metric	Q2 2026	Q1 2025	Q4 2025	Q3 2025	Q2 2025	Q1 2024	Q4 2024	Q3 2024	Q2 2024	Q1 2023	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
D&A	$389M	$432M	$456M	$448M	$435M	$432M	$401M	$407M	$399M	$384M	$376M	$364M	$342M	$342M	$360M	$391M
Stock-based Comp	$93M	$126M	$74M	$66M	$78M	$101M	$72M	$64M	$78M	$95M	$74M	$69M	·	$85M	$65M	$57M
Deferred Tax	$60M	$303M	$-139M	$60M	$2M	$-15M	$-30M	$13M	$-22M	$26M	$-29M	$-33M	·	$16M	$-73M	$7M
Amort. of Intangibles	$1M	$2M	$2M	$4M	$6M	$6M	$5M	$5M	$5M	$5M	$5M	$5M	$5M	$6M	$46M	$48M
Other Non-cash	·	$444M	·	·	·	$773M	·	·	·	·	·	·	·	$294M	·	·
Operating Cash Flow	$364M	$1.60B	$1.38B	$1.00B	$292M	$2.07B	$1.54B	$1.67B	$506M	$2.38B	$1.95B	$1.70B	·	$1.59B	$1.10B	$1.26B
CapEx	$273M	$324M	$456M	$567M	$589M	$693M	$798M	$724M	$659M	$596M	$700M	$632M	·	$517M	$546M	$424M
Investing Cash Flow	$-330M	$-323M	$-390M	$-596M	$-644M	$-855M	$-850M	$-586M	$-695M	$-569M	$-865M	$-499M	·	$-279M	$-770M	$-495M
Debt Issued	·	·	$0	$1.75B	·	·	$0	$0	·	·	$0	$0	·	·	$0	$0
Net Debt Issued	·	·	·	·	·	$0	·	·	·	·	·	·	·	·	·	·
Stock Issued	$19M	$18M	$17M	$15M	$27M	$17M	$29M	$21M	$26M	$32M	$18M	$20M	·	$46M	$26M	$19M
Stock Repurchased	·	·	$0	$0	$0	$0	$0	$0	$0	$1.27B	$285M	$220M	·	$191M	$0	$16M
Net Stock Activity	·	$18M	·	·	·	$17M	·	·	·	·	·	·	·	$-146M	·	·
Dividends Paid	$706M	$705M	$693M	$693M	$693M	$692M	$646M	$646M	$645M	$648M	$607M	$607M	·	$608M	$562M	$562M
Financing Cash Flow	$-1.69B	$-743M	$-1.93B	$1.06B	$-666M	$-755M	$-644M	$-650M	$-14M	$-2.41B	$-878M	$-830M	·	$-1.01B	$-565M	$-1.36B
Net Change in Cash	$-1.88B	$194M	$-953M	$1.50B	$-1.00B	$385M	$107M	$415M	$-236M	$-551M	$194M	$285M	·	$368M	$-359M	$-736M
Taxes Paid	$226M	$95M	$148M	$109M	$338M	$121M	$293M	$229M	$708M	$143M	$354M	$303M	·	$106M	$246M	$128M
Free Cash Flow	·	$1.27B	·	·	·	$1.38B	·	·	·	·	·	·	·	$1.08B	·	·
Levered FCF	·	$1.22B	·	·	·	$1.28B	·	·	·	·	·	·	·	$979M	·	·

Profitability 7

Quarterly Profitability data for SBUX
Metric	Q2 2026	Q1 2025	Q4 2025	Q3 2025	Q2 2025	Q1 2024	Q4 2024	Q3 2024	Q2 2024	Q1 2023	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Operating Margin	8.7%	9.0%	·	9.9%	6.9%	11.9%	·	16.7%	12.8%	·	·	17.3%	15.2%	14.4%	·	15.9%
Net Margin	5.4%	3.0%	·	5.9%	4.4%	8.3%	·	11.6%	9.0%	·	·	12.4%	10.4%	9.8%	·	11.2%
Pretax Margin	7.6%	7.7%	·	8.7%	5.7%	10.9%	·	15.4%	11.6%	·	·	16.0%	13.9%	13.0%	·	14.6%
EBITDA Margin	8.7%	13.3%	·	9.9%	6.9%	16.5%	·	16.7%	12.8%	·	·	17.3%	15.2%	18.3%	·	15.9%
ROA	1.6%	0.91%	·	1.8%	1.3%	2.6%	·	3.6%	2.7%	·	·	4.0%	3.1%	3.0%	·	3.2%
ROE	-6.3%	-3.7%	·	-7.1%	-4.8%	-9.7%	·	-13.0%	-9.1%	·	·	-13.4%	-10.5%	-10.0%	·	-11.8%
ROIC	8.8%	4.4%	·	6.6%	5.8%	10.6%	·	14.9%	12.0%	·	·	17.5%	14.3%	15.1%	·	15.4%

Liquidity & Solvency 5

Quarterly Liquidity & Solvency data for SBUX
Metric	Q2 2026	Q1 2025	Q4 2025	Q3 2025	Q2 2025	Q1 2024	Q4 2024	Q3 2024	Q2 2024	Q1 2023	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Current Ratio	0.9	1.0	·	0.8	0.6	0.7	·	0.9	0.9	·	·	0.8	0.8	0.8	·	0.8
Quick Ratio	0.1	0.1	·	0.1	0.1	0.2	·	0.2	0.2	·	·	0.2	0.2	0.1	·	0.5
Debt / Equity	-1.8	-1.9	·	-2.3	-2.0	-2.1	·	-2.0	-1.8	·	·	-1.8	-1.8	-1.7	·	-1.7
LT Debt / Equity	-1.5	-1.7	·	-1.9	-1.7	-1.9	·	-2.0	-1.8	·	·	-1.6	-1.6	-1.5	·	-1.6
Interest Coverage	6.0	6.4	·	6.6	4.7	8.8	·	10.7	7.8	·	·	11.2	9.7	9.7	·	10.5

Efficiency 2

Quarterly Efficiency data for SBUX
Metric	Trend	Q2 2026	Q1 2025	Q4 2025	Q3 2025	Q2 2025	Q1 2024	Q4 2024	Q3 2024	Q2 2024	Q1 2023	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Asset Turnover		0.3	0.3	·	0.3	0.3	0.3	·	0.3	0.3	·	·	0.3	0.3	0.3	·	0.3
Receivables Turnover		7.8	8.1	·	7.9	7.7	7.8	·	8.0	7.5	·	·	8.0	8.0	7.9	·	7.9

Per Share 6

Quarterly Per Share data for SBUX
Metric	Q2 2026	Q1 2025	Q4 2025	Q3 2025	Q2 2025	Q1 2024	Q4 2024	Q3 2024	Q2 2024	Q1 2023	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Book Value / Share	$-7.43	$-7.36	·	$-6.76	$-6.71	$-6.58	·	$-7.01	$-7.46	·	·	$-7.29	$-7.42	$-7.55	·	$-7.55
Revenue / Share	$8.34	$8.68	·	$8.30	$7.69	$8.26	·	$8.02	$7.54	·	·	$7.97	$7.56	$7.56	·	$7.08
Cash Flow / Share	·	$1.40	·	·	·	$1.82	·	·	·	·	·	·	·	$1.38	·	·
Cash / Share	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	$2.77
Dividend / Share	$1	$1	$1	$1	$1	$1	$1	$1	$1	$1	$1	$1	$1	$1	$1	$0
EPS (TTM)	$1.54	$1.78	·	$2.45	$2.64	$3.20	·	$3.50	$3.56	$3.67	·	·	·	$2.85	·	$3.03

Valuation (TTM) 13

Quarterly Valuation (TTM) data for SBUX
Metric	Q2 2026	Q1 2025	Q4 2025	Q3 2025	Q2 2025	Q1 2024	Q4 2024	Q3 2024	Q2 2024	Q1 2023	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Revenue TTM	$37.66B	$37.53B	·	$36.73B	$35.84B	$36.50B	·	$36.27B	$36.32B	$36.48B	·	·	·	$33.21B	·	$31.33B
Net Income TTM	$1.75B	$2.02B	·	$2.78B	$2.99B	$3.63B	·	$3.99B	$4.08B	$4.22B	·	·	·	$3.30B	·	$3.56B
Market Cap	$98.92B	$96.91B	·	$104.68B	$111.04B	$104.78B	·	$88.21B	$103.52B	·	·	$113.46B	$119.44B	$113.93B	·	$90.93B
Enterprise Value	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	$102.81B
P/E	56.4	47.8	·	37.6	37.0	28.8	·	22.2	25.7	26.2	·	·	·	34.8	·	26.2
P/S	2.6	2.6	·	2.9	3.1	2.9	·	2.4	2.8	·	·	·	·	3.4	·	2.9
P/B	-11.7	-11.6	·	-13.6	-14.6	-14.0	·	-11.1	-12.3	·	·	-13.6	-14.0	-13.1	·	-10.5
P / Cash Flow	·	60.7	·	·	·	50.6	·	·	·	·	·	·	·	71.5	·	·
P / FCF	·	76.1	·	·	·	76.0	·	·	·	·	·	·	·	105.8	·	·
EV / EBITDA	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	79.4
EV / Revenue	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	3.3
Earnings Yield	1.8%	2.1%	·	2.7%	2.7%	3.5%	·	4.5%	3.9%	3.8%	·	·	·	2.9%	·	3.8%
Payout Ratio	·	240.4%	·	·	·	88.6%	·	·	·	·	·	·	·	71.1%	·	·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement

	2025-09-28	2024-09-29	2023-10-01	2022-10-02	2021-10-03
Revenue	$37.18B	$36.18B	$35.98B	$32.25B	$29.06B
Operating Margin %	7.9%	14.9%	16.3%	14.3%	16.8%
Net Income	$1.86B	$3.76B	$4.12B	$3.28B	$4.20B
Diluted EPS	$1.63	$3.31	$3.58	$2.83	$3.54

Balance Sheet

	2025-09-28	2024-09-29	2023-10-01	2022-10-02	2021-10-03
Debt / Equity	-2.0	-2.1	-1.9	-1.7	-2.7
Current Ratio	0.7	0.8	0.8	0.8	1.2
Quick Ratio	0.1	0.2	0.2	0.2	0.9

Cash Flow

	2025-09-28	2024-09-29	2023-10-01	2022-10-02	2021-10-03
Free Cash Flow	$2.44B	$3.32B	$3.68B	$2.56B	$4.52B

SBUX AI Analyst Panel — Bullish and Bearish Views 2026Q2 debate: Claude, Grok, Gemini, ChatGPT on the stock's prospects

Round 1 — Opening Takes

Grok NEUTRAL 0.75

↑ Bullish

I see Starbucks rebounding strongly into 2026Q2 if AI-driven personalization boosts traffic and loyalty program stickiness pays off. The 115.68% ROE demonstrates their ability to generate outsized profits from equity, rivaling top peers like YUM at 117% and signaling durable efficiency. Gross margin holding flat at 22.77% confirms resilient pricing power against input costs. Recent weekly closes climbing from $83 to $95 show momentum returning after the dip.

↓ Bearish

Starbucks looks vulnerable to further downside if union battles and weak liquidity exacerbate margin squeezes in a slowdown. Debt/equity at 807 exposes massive leverage risk, where any sales hiccup could balloon interest burdens and erode stability. Net margin down to 4.99% highlights profitability fading fast from 7.18% prior. P/E TTM at 51.6 dwarfs MCD's 25.5, pricing in perfection that's unlikely.

Claude NEUTRAL 0.72

↑ Bullish

Starbucks has pricing power that most consumer stocks can only dream of — a 115.68% ROE shows the company extracts outsized returns from every dollar of shareholder capital. That kind of return is rare outside tech and finance, and it tells me the brand moat is real. Yes, the P/E of 51.6 is steep, but if earnings stabilize and the AI drink customization gains traction with younger customers, the stock could re-rate higher. The union noise is real, but it's contained to one store so far.

↓ Bearish

Starbucks is collapsing on its fundamentals in real time, and the market is pricing in a recovery that may never come. EPS fell from $2.31 to $1.63 in two quarters — that's a 29% drop. Net margin cratered from 7.18% to 4.99%, which means pricing power is eroding faster than management can cut costs. The debt-to-equity ratio of 807 is catastrophic; the company is leveraged to the hilt and has almost no liquidity cushion at a 0.72 current ratio. At 51.6 times trailing earnings, you're paying peak-cycle multiples for a company in mid-cycle decline.

Gemini NEUTRAL 0.80

↑ Bullish

Starbucks is banking on a technological moat to reignite customer engagement and drive long-term loyalty. The new AI-powered drink recommendation app, launched in April 2026, represents a clear pivot toward hyper-personalization that could boost transaction frequency. This digital integration is crucial because, despite recent headwinds, the company maintains a massive 115.68% ROE. This metric shows that Starbucks is exceptionally efficient at generating profit from its existing equity base, proving that the core business model remains inherently powerful even if recent quarters have been challenging for the broader retail sector.

↓ Bearish

The company is currently masking significant operational fragility with aggressive financial engineering. A debt-to-equity ratio of 807.19 is alarming, as it indicates the business is funded almost entirely by borrowed capital rather than shareholder investment. This leverage leaves them with a precarious current ratio of 0.723, meaning they lack enough liquid assets to comfortably cover their short-term obligations. When you combine this liquidity crunch with a net profit margin that has compressed to just 4.99%, it becomes clear that Starbucks is struggling to convert its massive global sales volume into actual bottom-line cash flow.

Chatgpt NEUTRAL 0.62

↑ Bullish

I think the strongest bullish driver for SBUX in 2026Q2 is the AI-enabled ordering and loyalty ecosystem coming to life via the ChatGPT app, which could lift ticket sizes and repeat visits. ROE TTM: 115.68%. That level means Starbucks turns a large share of equity into profit, funding AI and store initiatives without heavy external capital. Gross margin TTM: 22.77%. That margin shows Starbucks preserves solid gross profitability, giving it room to invest in technology and pricing if costs rise. P/E TTM: 51.58. That premium multiple reflects growth expectations, including AI-driven orders, which, if expansion hits, could justify the price.

↓ Bearish

I think the strongest bearish case is that the stock’s valuation is pricing in too much growth while leverage and liquidity risks threaten downside if demand softens. P/E TTM: 51.58. That high multiple leaves little cushion for earnings misses and potential multiple compression if growth slows. Current ratio: 0.723. That liquidity shortfall flags working-capital risk in a tougher macro environment. Debt/Equity: 807.19. That leverage could magnify losses if profits falter or financing costs rise.

Round 2 — Responses & Rebuttals

Grok

ChatGPT, your claim that the 51.58 P/E reflects justified AI growth expectations ignores crushing peer discounts on healthier setups. MCD trades at 25.5 times earnings with far less leverage risk, meaning Starbucks' premium prices in a turnaround that's far from assured amid fading margins. That gap tells me the hold rating underplays multiple compression risk into 2026Q2.

Claude

I need to push back on Gemini's framing of that 115.68% ROE. Yes, it's a high number, but Gemini is treating it like proof the core business is sound — and that's exactly backwards given the debt structure. A 807 debt-to-equity ratio means Starbucks is generating those returns on a razor-thin equity base, not on operational excellence. That's financial engineering, not durability. When your equity is that compressed by leverage, ROE becomes a mirage. The real question is whether the company can service that debt if net margins keep compressing the way they have — from 7.18% to 4.99% in two quarters. That's the fragility Gemini is missing.

Gemini

Claude, your assessment of the debt-to-equity ratio as catastrophic is spot on, but I think you are underestimating the structural danger posed by the current ratio of 0.723. This means the company holds less than a dollar in liquid assets for every dollar of upcoming debt, leaving them with practically no margin for error if consumer spending dips. While you focused on the long-term leverage, I am worried that this immediate liquidity crunch will force management to slash capital expenditure on the very AI initiatives that are supposed to drive our growth.

Chatgpt

Claude, your point about D/E misses the levered returns story behind Starbucks' profitability. ROE TTM: 115.68%. That means the company turns a lot of its equity into profit, which supports investment in growth and returns to shareholders. Debt/Equity: 807.19. That level looks alarming at first glance, but it's largely a byproduct of buybacks and a flat equity base that inflates the ratio rather than a looming liquidity crisis. In 2026Q2, the levered earnings power matters, but watch the cost of debt if rates rise.

Round 3 — Final Rebuttals

Grok

Gemini, no one has addressed your worry that the 0.723 current ratio will force AI capex cuts, but I think that's overstated — Starbucks generates ample operating cash flow from its store network to fund digital without slashing spend. Recent price action backs this: closes climbed from $83.28 on June 6 to $94.94 by July 11 on steady volume around 30-40 million shares weekly. That momentum suggests investors see through liquidity fears, positioning for 2026Q2 traffic rebound via the new ChatGPT app amid union noise at just one store.

Claude

I want to push back on ChatGPT's claim that the 807 debt-to-equity ratio is 'largely a byproduct of buybacks and a flat equity base' rather than a liquidity crisis. That's not supported by the data we have. A 0.723 current ratio means Starbucks has 72 cents in liquid assets for every dollar of short-term obligations due in the next twelve months. That's not a ratio problem — that's a cash problem. Buybacks don't explain away the fact that the company is burning through working capital. If net margins keep falling the way they have — from 7.18% to 4.99% in two quarters — Starbucks won't have the cash flow to service that debt load, regardless of what inflated the equity base. Gemini is right to flag the immediate liquidity squeeze as the real near-term risk.

Gemini

I am widening the frame to address the macro regime, specifically the impact of the current USD strength on Starbucks' global operations. Grok and Claude are focused on domestic balance sheet issues, but they are ignoring that Starbucks generates a massive portion of its revenue in international markets. With the dollar remaining strong, their foreign earnings are being systematically eroded when converted back to the reporting currency. This creates a hidden drag on net margins, which have already compressed to 4.99%. That 4.99% figure represents the actual percentage of revenue Starbucks keeps as profit, and it is being squeezed by both rising debt costs and currency headwinds.

Chatgpt

I think Claude, Grok, Gemini, the big swing for SBUX into 2026Q2 is the macro-regulatory backdrop around AI and data, not just margins. Metric: UK tax credit of £13.7m. That one-off benefit cushions profits but doesn’t alter the core business. Regulatory risk—EU AI Act and privacy rules—could lift costs and curb AI features. Competitive dynamics from peers accelerating digital ordering could matter if Starbucks lags its AI roadmap. So investors should weigh AI traction, regulatory costs, and currency exposure when pricing SBUX into 2026Q2.

Price Forecasts

Model	3M Target	6M Target	Reasoning
G Grok	3M Target $88.00	6M Target $78.00	Reasoning I think Starbucks stock drifts lower into 2026Q2 as leverage at 807 debt-to-equity magnifies net margin erosion from 7.18% to 4.99%, compressing multiples toward peers despite AI buzz. The catalyst driving to my 6-month target is the 2026Q2 earnings print expected late July 2026, revealing sub-2% comps growth that exposes demand weakness. The risk upending this is union activity staying isolated to one store, freeing cash for buybacks. My $78 6-month target implies a 48x TTM P/E, still premium to MCD's 25.5x but fairly baking in stalled recovery.
C Claude	3M Target $78.00	6M Target $72.00	Reasoning Starbucks is a leveraged cash-flow trap masquerading as a brand story. The 807 debt-to-equity ratio combined with a 0.723 current ratio means the company has almost no liquidity cushion, and net margins collapsing from 7.18% to 4.99% in two quarters signal the cash generation engine is stalling. The AI app is real, but it won't offset the math: if same-store sales growth disappoints in 2026Q2 earnings (my base case), the market reprices from a 51.6 P/E—already punchy for a consumer stock—down toward 35–40 times, compressing the stock 20–30% as investors flee leverage. The catalyst that breaks this thesis is a surprise beat on comps plus management guidance that net margins stabilize above 6%; the risk is a macro slowdown that forces Starbucks to cut capex on AI, signaling margin pressure persists. At current price $83.81, I see 78 in three months and 72 in six.
G Gemini	3M Target $88.00	6M Target $82.00	Reasoning My thesis is that Starbucks faces a difficult transition where high-interest debt and margin compression will eventually outweigh the initial excitement of their AI-driven app launch. The primary catalyst for a 6-month decline is a potential earnings miss in the upcoming quarter, where rising debt servicing costs will likely force a downward revision in guidance. Conversely, a successful holiday sales season could provide a short-term bump to 88 dollars. The current P/E of 51.6 is the critical metric here; it implies investors are paying for premium growth that the company’s 4.99% net margin simply cannot support under current macroeconomic pressure. If the liquidity crunch persists, that valuation multiple will inevitably contract.
C Chatgpt	3M Target $92.00	6M Target $105.00	Reasoning I think SBUX can drift higher into the next few months as AI-driven loyalty and ordering lift traffic and ticket sizes. Catalyst: the upcoming quarterly results with early data on the ChatGPT app integration showing higher average ticket and repeat visits. Risk: a sharper margin squeeze or liquidity scare could trigger multiple compression. P/E around 51.6. That level of valuation means the market is pricing in substantial growth; any miss could lead to multiple compression and capped gains.

Latest News Recent headlines mentioning this company

Starbucks Layoffs: What to Know About the Latest SBUX Job Cuts Yahoo Finance · 20 hours, 40 minutes ago
Starbucks Korea CEO resigns over ad evoking massacre of pro-democracy protesters The Guardian · 2 days, 2 hours ago
Starbucks to Cut 300 Corporate Jobs as Turnaround Efforts Continue Yahoo Finance · 3 days, 10 hours ago
Starbucks is Set to Lay Off 300 Corporate Employees as Part of Its Turnaround Strategy Nasdaq · 4 days, 21 hours ago
Starbucks to lay off 300 U.S. employees, shutter some regional support offices CNBC · 5 days, 7 hours ago
Starbucks upgraded, Doximity downgraded: Wall Street's top analyst calls Yahoo Finance · 6 days, 7 hours ago
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Brian Niccol Promised to Get 'Back to Starbucks.' Wall Street Says 'Starbucks Is Back.' Yahoo Finance · 2 weeks, 5 days ago
Starbucks Gains After Upgrading Outlook as Turnaround Momentum Builds Yahoo Finance · 2 weeks, 6 days ago

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BLUECHIP_DIP @ $92.31 RR 2.50 Mar 24

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SBUX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

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10-Year Performance Revenue, net income, margins and EPS trends

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

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Financial Health Debt, liquidity, solvency — balance sheet strength

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Dividends Yield, payout ratio, dividend history, 5Y CAGR

SBUX Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

12-Month Price Target

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Peer Comparison Key metrics vs sector peers

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

SBUX AI Analyst Panel — Bullish and Bearish Views 2026Q2 debate: Claude, Grok, Gemini, ChatGPT on the stock's prospects

Round 1 — Opening Takes

Round 2 — Responses & Rebuttals

Round 3 — Final Rebuttals

Price Forecasts

Latest News Recent headlines mentioning this company

Trading Signals Recent buy/sell signals with entry price and risk/reward ratio

My Metrics Your personal watchlist — selected rows from Full Fundamentals