Starbucks (SBUX) Q1 FY2025 earnings: revenue $9.4 billion, down 0.3% on the year
Starbucks Corp. (SBUX) reported revenue of $9.4 billion for Q1 FY2025, the quarter ended 29 December 2024, down 0.3% on the same quarter a year earlier. Net income was $781 million, down 23.8% on the year, and diluted earnings per share $0.69. The figures are the company's own, from the 10-Q it filed with the SEC on 28 January 2025.
Revenue
$9.4 billion
-0.3% on the year · +3.6% on the quarter
Q2 FY2023Q1 FY2025
Operating margin
11.9%
15.8% a year earlier
Q2 FY2023Q1 FY2025
Net income
$781 million
-23.8% on the year · -14.1% on the quarter
Q2 FY2023Q1 FY2025
Diluted EPS
$0.69
-23.3% on the year · -13.8% on the quarter
Q2 FY2023Q1 FY2025
this quarterthe same quarter a year earlierHover a bar for its figure.
Income statement (profit and loss)
$ million
Q1 FY2025
Q4 FY2024
Q1 FY2024
On the quarter
On the year
Last 8 quarters
Revenue
9,398
9,074
9,425
+3.6%
-0.3%
Operating income
1,122
1,307
1,485
-14.2%
-24.5%
Operating margin
11.9%
14.4%
15.8%
Interest expense
127
140
140
-9.1%
-9.2%
Pre-tax income
1,022
1,194
1,379
-14.4%
-25.9%
Income tax
241
284
355
-15.0%
-31.9%
Effective tax rate
23.6%
23.8%
25.7%
Net income
781
909
1,024
-14.1%
-23.8%
Net margin
8.3%
10.0%
10.9%
Diluted EPS
$0.69
$0.80
$0.90
-13.8%
-23.3%
$ 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
Q1 FY2025
Q4 FY2024
Q1 FY2024
On the quarter
On the year
Last 8 quarters
Operating cash flow
2,072
1,536
2,384
+34.9%
-13.1%
Capital expenditure
693
798
596
-13.2%
+16.3%
Free cash flow
1,379
737
1,788
+87.0%
-22.9%
Free cash flow margin
14.7%
8.1%
19.0%
Cash from investing
-855
-850
-569
Cash from financing
-755
-644
-2,409
Depreciation and amortisation
432
401
384
+7.7%
+12.4%
Share-based compensation
101
71.8
94.8
+40.1%
+6.1%
Buybacks
0.0
0.0
1,267
Dividends paid
692
646
648
+7.1%
+6.8%
Dividend per share
$0.61
$0.61
$0.57
0.0%
+7.0%
Diluted shares, weighted
1,138m
1,137m
1,141m
+0.1%
-0.2%
Shares outstanding at period end
1,136m
1,134m
1,132m
+0.2%
+0.3%
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
Q1 FY2025
Q4 FY2024
Q1 FY2024
On the quarter
On the year
Last 8 quarters
Shareholders' equity
-7,472
-7,449
-8,616
Non-controlling interest
7.1
7.3
7.1
-2.7%
0.0%
Short-term borrowings
n/a
0.0
350
Debt
15,561
15,568
14,666
-0.0%
+6.1%
Operating lease liabilities
8,857
8,772
8,139
+1.0%
+8.8%
Other liabilities
14,940
14,441
14,634
+3.5%
+2.1%
Total liabilities and equity
31,893
31,339
29,180
+1.8%
+9.3%
Fixed assets
8,684
8,666
7,612
+0.2%
+14.1%
Goodwill
3,288
3,316
3,303
-0.8%
-0.5%
Intangible assets
170
101
116
+69.0%
+47.2%
Investments
513
533
623
-3.7%
-17.6%
Cash and equivalents
3,671
3,286
3,000
+11.7%
+22.4%
Receivables
1,242
1,214
1,165
+2.3%
+6.6%
Inventory
1,732
1,777
1,646
-2.6%
+5.2%
Other assets
12,594
12,447
11,715
+1.2%
+7.5%
Total assets
31,893
31,339
29,180
+1.8%
+9.3%
Questions
What was Starbucks' revenue in Q1 FY2025?
Starbucks (SBUX) reported revenue of $9.4 billion for Q1 FY2025, the quarter ended 29 December 2024, down 0.3% on the same quarter a year earlier.
How much did Starbucks earn in Q1 FY2025?
Net income for Q1 FY2025 was $781 million, down 23.8% on the year, and diluted earnings per share $0.69.
When did Starbucks report Q1 FY2025 results?
Starbucks filed its 10-Q for the quarter ended 29 December 2024 with the SEC on 28 January 2025.
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-Q for the period ended 29 December 2024, filed 28 January 2025: the filing.