Starbucks (SBUX) FY2017 results: revenue $22.4 billion, up 5.0% on the year
Starbucks Corp. (SBUX) reported revenue of $22.4 billion for fiscal 2017, the year ended 1 October 2017, up 5.0% on the year before. Net income was $2.9 billion, up 2.4%, and diluted earnings per share $1.97. The figures are the company's own, from the 10-K it filed with the SEC on 16 November 2018.
Revenue
$22.4 billion
+5.0% on the year
FY2010FY2017
Operating margin
18.5%
19.6% a year earlier
FY2010FY2017
Net income
$2.9 billion
+2.4% on the year
FY2010FY2017
Diluted EPS
$1.97
+3.7% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
22,387
21,316
19,163
+5.0%
Cost of revenue
7,066
8,511
7,788
-17.0%
Gross profit
15,321
12,805
11,375
+19.7%
Gross margin
68.4%
60.1%
59.4%
Operating income
4,135
4,172
3,601
-0.9%
Operating margin
18.5%
19.6%
18.8%
Interest expense
92.5
81.3
70.5
+13.8%
Pre-tax income
4,318
4,199
3,903
+2.8%
Income tax
1,433
1,380
1,144
+3.8%
Effective tax rate
33.2%
32.9%
29.3%
Net income
2,885
2,818
2,757
+2.4%
Net margin
12.9%
13.2%
14.4%
Diluted EPS
$1.97
$1.90
$1.82
+3.7%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
4,252
4,698
3,749
-9.5%
Capital expenditure
1,519
1,440
1,304
+5.5%
Free cash flow
2,732
3,258
2,445
-16.1%
Free cash flow margin
12.2%
15.3%
12.8%
Cash from investing
-850
-2,223
-1,520
Cash from financing
-3,079
-1,873
-2,256
Depreciation and amortisation
1,067
1,030
934
+3.6%
Share-based compensation
176
218
210
-19.3%
Buybacks
2,042
1,996
1,436
+2.4%
Dividends paid
1,450
1,178
929
+23.1%
Dividend per share
$0.00
$0.85
$0.68
Diluted shares, weighted
1,462m
1,487m
1,513m
-1.7%
Shares outstanding at period end
1,432m
1,460m
1,485m
-2.0%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
5,450
5,884
5,818
-7.4%
Non-controlling interest
6.9
6.7
1.8
+3.0%
Short-term borrowings
0.0
0.0
0.0
Debt
3,933
3,585
2,348
+9.7%
Other liabilities
4,976
4,854
4,249
+2.5%
Total liabilities and equity
14,366
14,330
12,416
+0.3%
Fixed assets
4,920
4,534
4,088
+8.5%
Goodwill
1,539
1,720
1,575
-10.5%
Intangible assets
441
516
520
-14.5%
Investments
771
1,276
394
-39.6%
Cash and equivalents
2,462
2,129
1,530
+15.7%
Receivables
870
769
719
+13.2%
Inventory
1,364
1,378
1,306
-1.1%
Other assets
1,998
2,008
2,283
-0.5%
Total assets
14,366
14,330
12,416
+0.3%
10-K for the year ended 1 October 2017, filed 16 November 2018: the filing.