Starbucks (SBUX) FY2023 results: revenue $36.0 billion, up 11.6% on the year
Starbucks Corp. (SBUX) reported revenue of $36.0 billion for fiscal 2023, the year ended 1 October 2023, up 11.6% on the year before. Net income was $4.1 billion, up 25.7%, and diluted earnings per share $3.58. The figures are the company's own, from the 10-K it filed with the SEC on 17 November 2023.
Revenue
$36.0 billion
+11.6% on the year
FY2016FY2023
Operating margin
16.3%
14.3% a year earlier
FY2016FY2023
Net income
$4.1 billion
+25.7% on the year
FY2016FY2023
Diluted EPS
$3.58
+26.5% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
6,009
4,397
5,989
+36.6%
Capital expenditure
2,334
1,841
1,470
+26.7%
Free cash flow
3,675
2,556
4,519
+43.8%
Free cash flow margin
10.2%
7.9%
15.6%
Cash from investing
-2,271
-2,146
-320
Cash from financing
-2,991
-5,638
-3,651
Depreciation and amortisation
1,450
1,529
1,524
-5.2%
Share-based compensation
303
272
319
+11.5%
Buybacks
984
4,013
0.0
-75.5%
Dividends paid
2,432
2,263
2,119
+7.4%
Dividend per share
$2.16
$2.00
$2.29
+8.0%
Diluted shares, weighted
1,151m
1,158m
1,186m
-0.6%
Shares outstanding at period end
1,143m
1,148m
1,180m
-0.5%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
-7,995
-8,707
-5,321
Non-controlling interest
7.0
7.9
6.7
-11.4%
Short-term borrowings
33.5
n/a
0.0
Debt
15,366
15,044
14,616
+2.1%
Operating lease liabilities
7,925
7,515
7,738
+5.5%
Other liabilities
14,109
14,118
14,353
-0.1%
Total liabilities and equity
29,446
27,978
31,393
+5.2%
Fixed assets
7,387
6,560
6,370
+12.6%
Goodwill
3,218
3,284
3,677
-2.0%
Intangible assets
120
156
350
-22.7%
Investments
649
644
444
+0.8%
Cash and equivalents
3,552
2,818
6,456
+26.0%
Receivables
1,184
1,176
940
+0.7%
Inventory
1,806
2,177
1,604
-17.0%
Other assets
11,529
11,164
11,552
+3.3%
Total assets
29,446
27,978
31,393
+5.2%
10-K for the year ended 1 October 2023, filed 17 November 2023: the filing.