Starbucks (SBUX) Q4 FY2023 earnings: revenue $9.4 billion, up 11.4% on the year
Starbucks Corp. (SBUX) reported revenue of $9.4 billion for Q4 FY2023, the quarter ended 1 October 2023, up 11.4% on the same quarter a year earlier. Net income was $1.2 billion, up 38.8% on the year, and diluted earnings per share $1.06. The figures are the company's own, from the 10-K it filed with the SEC on 17 November 2023.
Revenue
$9.4 billion
+11.4% on the year · +2.2% on the quarter
Q1 FY2022Q4 FY2023
Operating margin
18.2%
14.2% a year earlier
Q1 FY2022Q4 FY2023
Net income
$1.2 billion
+38.8% on the year · +6.8% on the quarter
Q1 FY2022Q4 FY2023
Diluted EPS
$1.06
+39.5% on the year · +7.1% on the quarter
Q1 FY2022Q4 FY2023
this quarterthe same quarter a year earlierHover a bar for its figure.
Income statement (profit and loss)
$ million
Q4 FY2023
Q3 FY2023
Q4 FY2022
On the quarter
On the year
Last 8 quarters
Revenue
9,374
9,168
8,414
+2.2%
+11.4%
Operating income
1,706
1,584
1,196
+7.7%
+42.7%
Operating margin
18.2%
17.3%
14.2%
Interest expense
143
141
125
+1.6%
+14.2%
Pre-tax income
1,593
1,464
1,101
+8.8%
+44.7%
Income tax
374
322
223
+15.9%
+67.9%
Effective tax rate
23.5%
22.0%
20.2%
Net income
1,219
1,142
878
+6.8%
+38.8%
Net margin
13.0%
12.5%
10.4%
Diluted EPS
$1.06
$0.99
$0.76
+7.1%
+39.5%
$ million except per share. Read moreFourth quarters are the year less the first three quarters. Free 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
Q4 FY2023
Q3 FY2023
Q4 FY2022
On the quarter
On the year
Last 8 quarters
Operating cash flow
1,945
1,703
1,100
+14.2%
+76.9%
Capital expenditure
700
632
546
+10.7%
+28.1%
Free cash flow
1,246
1,071
554
+16.3%
+124.9%
Free cash flow margin
13.3%
11.7%
6.6%
Cash from investing
-865
-499
-770
Cash from financing
-878
-830
-565
Depreciation and amortisation
376
342
360
+10.0%
+4.5%
Share-based compensation
74.2
69.2
64.9
+7.2%
+14.3%
Buybacks
285
220
0.0
+29.6%
Dividends paid
607
607
562
-0.1%
+8.0%
Dividend per share
$0.57
$0.53
$0.53
+7.5%
+7.5%
Diluted shares, weighted
1,149m
1,150m
1,152m
-0.1%
-0.3%
Shares outstanding at period end
1,143m
1,145m
1,148m
-0.2%
-0.5%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q4 FY2023
Q3 FY2023
Q4 FY2022
On the quarter
On the year
Last 8 quarters
Shareholders' equity
-7,995
-8,349
-8,707
Non-controlling interest
7.0
7.0
7.9
0.0%
-11.4%
Short-term borrowings
33.5
34.5
n/a
-2.9%
Debt
15,366
15,380
15,044
-0.1%
+2.1%
Operating lease liabilities
7,925
7,691
7,515
+3.0%
+5.5%
Other liabilities
14,109
13,969
14,118
+1.0%
-0.1%
Total liabilities and equity
29,446
28,733
27,978
+2.5%
+5.2%
Fixed assets
7,387
7,054
6,560
+4.7%
+12.6%
Goodwill
3,218
3,251
3,284
-1.0%
-2.0%
Intangible assets
120
124
156
-3.1%
-22.7%
Investments
649
502
644
+29.4%
+0.8%
Cash and equivalents
3,552
3,357
2,818
+5.8%
+26.0%
Receivables
1,184
1,140
1,176
+3.9%
+0.7%
Inventory
1,806
1,987
2,177
-9.1%
-17.0%
Other assets
11,529
11,318
11,164
+1.9%
+3.3%
Total assets
29,446
28,733
27,978
+2.5%
+5.2%
Questions
What was Starbucks' revenue in Q4 FY2023?
Starbucks (SBUX) reported revenue of $9.4 billion for Q4 FY2023, the quarter ended 1 October 2023, up 11.4% on the same quarter a year earlier.
How much did Starbucks earn in Q4 FY2023?
Net income for Q4 FY2023 was $1.2 billion, up 38.8% on the year, and diluted earnings per share $1.06.
When did Starbucks report Q4 FY2023 results?
Starbucks filed its 10-K for the year that ended with the quarter on 17 November 2023; the fourth quarter is the year less the first three.
Each quarter as filed, linked to its filing. Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.
10-K for the period ended 1 October 2023, filed 17 November 2023: the filing.