Starbucks (SBUX) FY2020 results: revenue $23.5 billion, down 11.3% on the year
Starbucks Corp. (SBUX) reported revenue of $23.5 billion for fiscal 2020, the year ended 27 September 2020, down 11.3% on the year before. Net income was $928 million, down 74.2%, and diluted earnings per share $0.79. The figures are the company's own, from the 10-K it filed with the SEC on 12 November 2020.
Revenue
$23.5 billion
-11.3% on the year
FY2013FY2020
Operating margin
6.6%
15.4% a year earlier
FY2013FY2020
Net income
$928 million
-74.2% on the year
FY2013FY2020
Diluted EPS
$0.79
-72.9% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
23,518
26,509
24,720
-11.3%
Cost of revenue
n/a
8,527
7,931
Gross profit
n/a
17,982
16,789
Gross margin
n/a
67.8%
67.9%
Operating income
1,562
4,078
3,883
-61.7%
Operating margin
6.6%
15.4%
15.7%
Interest expense
437
331
170
+32.0%
Pre-tax income
1,164
4,466
5,780
-73.9%
Income tax
240
872
1,262
-72.5%
Effective tax rate
20.6%
19.5%
21.8%
Net income
928
3,599
4,518
-74.2%
Net margin
3.9%
13.6%
18.3%
Diluted EPS
$0.79
$2.92
$3.24
-72.9%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,598
5,047
11,938
-68.3%
Capital expenditure
1,484
1,807
1,976
-17.9%
Free cash flow
114
3,240
9,961
-96.5%
Free cash flow margin
0.5%
12.2%
40.3%
Cash from investing
-1,712
-1,011
-2,362
Cash from financing
1,713
-10,057
-3,243
Depreciation and amortisation
1,503
1,449
1,306
+3.7%
Share-based compensation
249
308
250
-19.3%
Buybacks
1,699
10,222
7,134
-83.4%
Dividends paid
1,924
1,761
1,743
+9.2%
Dividend per share
$1.23
$1.49
$1.32
-17.4%
Diluted shares, weighted
1,182m
1,233m
1,395m
-4.2%
Shares outstanding at period end
1,173m
1,185m
1,309m
-1.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
-7,805
-6,232
1,170
Non-controlling interest
5.7
1.2
6.3
+375.0%
Short-term borrowings
n/a
0.0
0.0
Debt
16,348
11,167
9,440
+46.4%
Operating lease liabilities
7,662
0.0
n/a
Other liabilities
13,164
14,284
13,540
-7.8%
Total liabilities and equity
29,374
19,220
24,156
+52.8%
Fixed assets
6,241
6,432
5,929
-3.0%
Goodwill
3,597
3,491
3,542
+3.0%
Intangible assets
552
782
1,042
-29.4%
Investments
487
290
449
+67.7%
Cash and equivalents
4,351
2,687
8,756
+61.9%
Receivables
883
879
693
+0.5%
Inventory
1,551
1,529
1,400
+1.4%
Other assets
11,711
3,130
2,344
+274.2%
Total assets
29,374
19,220
24,156
+52.8%
10-K for the year ended 27 September 2020, filed 12 November 2020: the filing.