Starbucks (SBUX) FY2014 results: revenue $16.4 billion, up 10.4% on the year
Starbucks Corp. (SBUX) reported revenue of $16.4 billion for fiscal 2014, the year ended 28 September 2014, up 10.4% on the year before. Net income was $2.1 billion, up 24816.9%, and diluted earnings per share $1.35. The figures are the company's own, from the 10-K it filed with the SEC on 14 November 2014.
Revenue
$16.4 billion
+10.4% on the year
FY2007FY2014
Operating margin
18.7%
-2.2% a year earlier
FY2007FY2014
Net income
$2.1 billion
+24,816.9% on the year
FY2007FY2014
Diluted EPS
$1.35
+27,000.0% on the year
FY2007FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
16,448
14,892
13,300
+10.4%
Cost of revenue
6,859
6,382
5,813
+7.5%
Gross profit
9,589
8,510
7,486
+12.7%
Gross margin
58.3%
57.1%
56.3%
Operating income
3,081
-325
1,997
Operating margin
18.7%
-2.2%
15.0%
Interest expense
64.1
28.1
32.7
+128.1%
Pre-tax income
3,160
-230
2,059
Income tax
1,092
-239
674
Effective tax rate
34.6%
n/a
32.8%
Net income
2,068
8.3
1,384
+24,816.9%
Net margin
12.6%
0.1%
10.4%
Diluted EPS
$1.35
$0.01
$0.90
+27,000.0%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
608
2,908
1,750
-79.1%
Capital expenditure
1,161
1,151
856
+0.8%
Free cash flow
-553
1,757
894
Free cash flow margin
-3.4%
11.8%
6.7%
Cash from investing
-818
-1,411
-974
Cash from financing
-623
-108
-746
Depreciation and amortisation
748
656
581
+14.2%
Share-based compensation
183
142
154
+28.7%
Buybacks
759
588
549
+29.0%
Dividends paid
783
629
513
+24.5%
Dividend per share
$0.55
$0.45
$0.36
+23.6%
Diluted shares, weighted
1,526m
1,525m
1,546m
+0.1%
Shares outstanding at period end
1,499m
1,506m
1,499m
-0.5%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
5,272
4,480
5,109
+17.7%
Non-controlling interest
1.7
2.1
5.5
-19.0%
Debt
2,048
1,299
550
+57.6%
Other liabilities
3,431
5,735
2,555
-40.2%
Total liabilities and equity
10,753
11,517
8,219
-6.6%
Fixed assets
3,519
3,200
2,659
+10.0%
Goodwill
856
863
399
-0.8%
Intangible assets
274
275
144
-0.5%
Investments
454
716
964
-36.7%
Cash and equivalents
1,708
2,576
1,189
-33.7%
Receivables
631
561
486
+12.4%
Inventory
1,091
1,111
1,242
-1.8%
Other assets
2,220
2,214
1,137
+0.3%
Total assets
10,753
11,517
8,219
-6.6%
10-K for the year ended 28 September 2014, filed 14 November 2014: the filing.