Starbucks (SBUX) FY2013 results: revenue $14.9 billion, up 12.0% on the year
Starbucks Corp. (SBUX) reported revenue of $14.9 billion for fiscal 2013, the year ended 29 September 2013, up 12.0% on the year before. Net income was $8 million, down 99.4%, and diluted earnings per share $0.01. The figures are the company's own, from the 10-K it filed with the SEC on 18 November 2013.
Revenue
$14.9 billion
+12.0% on the year
FY2007FY2013
Operating margin
-2.2%
15.0% a year earlier
FY2007FY2013
Net income
$8 million
-99.4% on the year
FY2007FY2013
Diluted EPS
$0.01
-99.4% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
14,892
13,300
11,700
+12.0%
Cost of revenue
6,382
5,813
4,916
+9.8%
Gross profit
8,510
7,486
6,785
+13.7%
Gross margin
57.1%
56.3%
58.0%
Operating income
-325
1,997
1,728
Operating margin
-2.2%
15.0%
14.8%
Interest expense
28.1
32.7
33.3
-14.1%
Pre-tax income
-230
2,059
1,811
Income tax
-239
674
563
Effective tax rate
n/a
32.8%
31.1%
Net income
8.3
1,384
1,246
-99.4%
Net margin
0.1%
10.4%
10.6%
Diluted EPS
$0.01
$0.90
$0.81
-99.4%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
2,908
1,750
1,612
+66.2%
Capital expenditure
1,151
856
532
+34.5%
Free cash flow
1,757
894
1,080
+96.5%
Free cash flow margin
11.8%
6.7%
9.2%
Cash from investing
-1,411
-974
-1,020
Cash from financing
-108
-746
-608
Depreciation and amortisation
656
581
550
+12.9%
Share-based compensation
142
154
145
-7.4%
Buybacks
588
549
556
+7.1%
Dividends paid
629
513
390
+22.6%
Dividend per share
$0.45
$0.36
$0.28
+23.6%
Diluted shares, weighted
1,525m
1,546m
1,539m
-1.4%
Shares outstanding at period end
1,506m
1,499m
1,490m
+0.5%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
4,480
5,109
4,385
-12.3%
Non-controlling interest
2.1
5.5
2.4
-61.8%
Debt
1,299
550
550
+136.4%
Other liabilities
5,735
2,555
2,424
+124.5%
Total liabilities and equity
11,517
8,219
7,360
+40.1%
Fixed assets
3,200
2,659
2,355
+20.4%
Goodwill
863
399
322
+116.2%
Intangible assets
275
144
112
+91.2%
Investments
716
964
1,010
-25.7%
Cash and equivalents
2,576
1,189
1,148
+116.7%
Receivables
561
486
386
+15.5%
Inventory
1,111
1,242
966
-10.5%
Other assets
2,214
1,137
1,062
+94.7%
Total assets
11,517
8,219
7,360
+40.1%
10-K for the year ended 29 September 2013, filed 18 November 2013: the filing.