Starbucks (SBUX) FY2018 results: revenue $24.7 billion, up 10.4% on the year
Starbucks Corp. (SBUX) reported revenue of $24.7 billion for fiscal 2018, the year ended 30 September 2018, up 10.4% on the year before. Net income was $4.5 billion, up 56.6%, and diluted earnings per share $3.24. The figures are the company's own, from the 10-K it filed with the SEC on 16 November 2018.
Revenue
$24.7 billion
+10.4% on the year
FY2011FY2018
Operating margin
15.7%
18.5% a year earlier
FY2011FY2018
Net income
$4.5 billion
+56.6% on the year
FY2011FY2018
Diluted EPS
$3.24
+64.5% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
24,720
22,387
21,316
+10.4%
Cost of revenue
7,931
7,066
8,511
+12.2%
Gross profit
16,789
15,321
12,805
+9.6%
Gross margin
67.9%
68.4%
60.1%
Operating income
3,883
4,135
4,172
-6.1%
Operating margin
15.7%
18.5%
19.6%
Interest expense
170
92.5
81.3
+84.1%
Pre-tax income
5,780
4,318
4,199
+33.9%
Income tax
1,262
1,433
1,380
-11.9%
Effective tax rate
21.8%
33.2%
32.9%
Net income
4,518
2,885
2,818
+56.6%
Net margin
18.3%
12.9%
13.2%
Diluted EPS
$3.24
$1.97
$1.90
+64.5%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
11,938
4,252
4,698
+180.8%
Capital expenditure
1,976
1,519
1,440
+30.1%
Free cash flow
9,961
2,732
3,258
+264.6%
Free cash flow margin
40.3%
12.2%
15.3%
Cash from investing
-2,362
-850
-2,223
Cash from financing
-3,243
-3,079
-1,873
Depreciation and amortisation
1,306
1,067
1,030
+22.4%
Share-based compensation
250
176
218
+42.2%
Buybacks
7,134
2,042
1,996
+249.3%
Dividends paid
1,743
1,450
1,178
+20.2%
Dividend per share
$1.32
$0.00
$0.85
Diluted shares, weighted
1,395m
1,462m
1,487m
-4.6%
Shares outstanding at period end
1,309m
1,432m
1,460m
-8.6%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,170
5,450
5,884
-78.5%
Non-controlling interest
6.3
6.9
6.7
-8.7%
Short-term borrowings
0.0
0.0
0.0
Debt
9,440
3,933
3,585
+140.0%
Other liabilities
13,540
4,976
4,854
+172.1%
Total liabilities and equity
24,156
14,366
14,330
+68.2%
Fixed assets
5,929
4,920
4,534
+20.5%
Goodwill
3,542
1,539
1,720
+130.1%
Intangible assets
1,042
441
516
+136.1%
Investments
449
771
1,276
-41.7%
Cash and equivalents
8,756
2,462
2,129
+255.6%
Receivables
693
870
769
-20.4%
Inventory
1,400
1,364
1,378
+2.7%
Other assets
2,344
1,998
2,008
+17.3%
Total assets
24,156
14,366
14,330
+68.2%
10-K for the year ended 30 September 2018, filed 16 November 2018: the filing.