Description
1). Go to Yahoo! Finance, Mergent or other source to retrieve financial data (Income Statement, Balance Sheet and Statement of Cash Flows) for a company of your choice to analyze.
2). Examine the ratios for your company’s Liquidity, Asset Management, Debt Management and Profitability/Returns.
3). Calculate the Cost of Equity, using the Beta from Yahoo!, then apply Beta to the Equity Risk Premium and add the Risk-Free Rate for the Cost of Equity.
4). Compare your company’s Cost of Equity (from above) to its Return on Equity (from 2 above) and determine the Spread between them. What does this Spread tell you?
In three to five pages, summarize your company’s financial health and comment on whether you think it is adding value through its investments (assets) and financing choices (debt and equity). Use the news articles you researched about your company to give specifics.
Be sure to include pdf’s of the information you retrieved (articles) and the Excel workbook used for your calculations.
Unformatted Attachment Preview
Average Return on Equity
Cost of Equity
Spread
Liquidity Ratios
Current Ratio
Quick Ratio
Asset Management Ratios
Inventory Turnover
Days Sales Outstanding (DSO)
2022
Current Assets
Current Liabilities
Current Assets – Inventories
Current Liabilities
Cost of Goods Sold
Inventory
Accounts Receivable
Sales/365
Fixed Asset Turnover
Sales
Net Fixed Assets
Total Asset Turnover
Sales
Total Assets
Debt Management Ratios
Debt Ratio
Times Interest Earned
Profitability Ratios
Profit Margin
Total Liabilities
Total Assets
EBIT
Interest Expense
Net Income
Sales
Return on Assets (ROA)
Net Income
Total Assets
Return on Equity (ROE)
Net Income
Total Equity
Market Valuation Ratios
Price per Share (fiscal year end)
Price/Earnings (PE)
Price per share
Earnings per share
2021
Market/Book (MB)
Price per share x Shares Out
Book Value of Equity
2020
2019
2018
Cost of Equity
Company
Beta (for your company from Yahoo! Finance)
Riskfree Rate =
Equity Risk Premium used in cost of equity =
Cost of Equity
4,60%
7,86%
Monthly Stock Returns: for regression
Date
Firm
31-Oct-23
30-Sep-23
31-Aug-23
31-Jul-23
30-Jun-23
31-May-23
30-Apr-23
31-Mar-23
1-Mar-23
1-Feb-23
1-Jan-23
1-Dec-22
31-Oct-22
30-Sep-22
31-Aug-22
31-Jul-22
30-Jun-22
31-May-22
30-Apr-22
31-Mar-22
1-Mar-22
1-Feb-22
1-Jan-22
1-Dec-21
31-Oct-21
30-Sep-21
31-Aug-21
31-Jul-21
30-Jun-21
31-May-21
30-Apr-21
31-Mar-21
1-Mar-21
1-Feb-21
1-Jan-21
1-Dec-20
31-Oct-20
30-Sep-20
31-Aug-20
31-Jul-20
30-Jun-20
31-May-20
30-Apr-20
31-Mar-20
1-Mar-20
1-Feb-20
1-Jan-20
1-Dec-19
31-Oct-19
30-Sep-19
31-Aug-19
31-Jul-19
S&P
30-Jun-19
31-May-19
30-Apr-19
31-Mar-19
1-Mar-19
1-Feb-19
1-Jan-19
1-Dec-18
31-Oct-18
Date
Open
High
Low
Close* Adj Close** Volume
31-Oct-23 4.201,27 4.373,62 4.197,74 4.365,98
4.365,98 17.121.980.000
30-Sep-23 4.284,52 4.393,57 4.103,78 4.193,80
4.193,80 79.952.900.000
31-Aug-23 4.530,60 4.541,25 4.238,63 4.288,05
4.288,05 73.482.980.000
31-Jul-23 4.578,83 4.584,62 4.335,31 4.507,66
4.507,66 86.840.820.000
30-Jun-23 4.450,48 4.607,07 4.385,05 4.588,96
4.588,96 75.063.200.000
31-May-23 4.183,03 4.458,48 4.171,64 4.450,38
4.450,38 87.983.140.000
30-Apr-23 4.166,79 4.231,10 4.048,28 4.179,83
4.179,83 88.929.200.000
31-Mar-23 4.102,20 4.170,06 4.049,35 4.169,48
4.169,48 70.861.260.000
1-Mar-23 3.963,34 4.110,75 3.808,86 4.109,31
4.109,31 113.094.800.000
1-Feb-23 4.070,07 4.195,44 3.943,08 3.970,15
3.970,15 80.392.280.000
1-Jan-23 3.853,29 4.094,21 3.794,33 4.076,60
4.076,60 80.763.810.000
1-Dec-22 4.087,14 4.100,96 3.764,49 3.839,50
3.839,50 85.249.330.000
31-Oct-22 3.901,79 4.080,11 3.698,15 4.080,11
4.080,11 92.671.910.000
30-Sep-22 3.609,78 3.905,42 3.491,58 3.871,98
3.871,98 95.823.760.000
31-Aug-22 3.936,73 4.119,28 3.584,13 3.585,62
3.585,62 94.241.020.000
31-Jul-22 4.112,38 4.325,28 3.954,53 3.955,00
3.955,00 92.252.350.000
30-Jun-22 3.781,00 4.140,15 3.721,56 4.130,29
4.130,29 81.688.320.000
31-May-22 4.149,78 4.177,51 3.636,87 3.785,38
3.785,38 106.116.710.000
30-Apr-22 4.130,61 4.307,66 3.810,32 4.132,15
4.132,15 108.860.390.000
31-Mar-22 4.540,32 4.593,45 4.124,28 4.131,93
4.131,93 90.367.840.000
1-Mar-22 4.363,14 4.637,30 4.157,87 4.530,41
4.530,41 123.546.260.000
1-Feb-22 4.519,57 4.595,31 4.114,65 4.373,94
4.373,94 92.667.710.000
1-Jan-22 4.778,14 4.818,62 4.222,62 4.515,55
4.515,55 95.562.890.000
1-Dec-21 4.602,82 4.808,93 4.495,12 4.766,18
4.766,18 92.750.180.000
31-Oct-21 4.610,62 4.743,83 4.560,00 4.567,00
4.567,00 88.268.840.000
30-Sep-21 4.317,16 4.608,08 4.278,94 4.605,38
4.605,38 80.253.600.000
31-Aug-21 4.528,80 4.545,85 4.305,91 4.307,54
4.307,54 85.528.860.000
31-Jul-21 4.406,86 4.537,36 4.367,73 4.522,68
4.522,68 80.500.760.000
30-Jun-21 4.300,73 4.429,97 4.233,13 4.395,26
4.395,26 84.255.620.000
31-May-21 4.216,52 4.302,43 4.164,40 4.297,50
4.297,50 102.544.180.000
30-Apr-21 4.191,98 4.238,04 4.056,88 4.204,11
4.204,11 88.321.860.000
31-Mar-21 3.992,78 4.218,78 3.992,78 4.181,17
4.181,17 83.124.090.000
1-Mar-21 3.842,51 3.994,41 3.723,34 3.972,89
3.972,89 122.371.150.000
1-Feb-21 3.731,17 3.950,43 3.725,62 3.811,15
3.811,15 99.082.320.000
1-Jan-21 3.764,61 3.870,90 3.662,71 3.714,24
3.714,24 106.117.800.000
1-Dec-20 3.645,87 3.760,20 3.633,40 3.756,07
3.756,07 96.375.680.000
31-Oct-20 3.296,20 3.645,99 3.279,74 3.621,63
3.621,63 101.247.180.000
30-Sep-20 3.385,87 3.549,85 3.233,94 3.269,96
3.269,96 89.938.980.000
31-Aug-20 3.507,44 3.588,11 3.209,45 3.363,00
3.363,00 92.310.780.000
31-Jul-20 3.288,26 3.514,77 3.284,53 3.500,31
3.500,31 82.466.520.000
30-Jun-20 3.105,92 3.279,99 3.101,17 3.271,12
3.271,12 96.928.130.000
31-May-20 3.038,78 3.233,13 2.965,66 3.100,29
3.100,29 131.458.880.000
30-Apr-20 2.869,09 3.068,67 2.766,64 3.044,31
3.044,31 107.135.190.000
31-Mar-20 2.498,08 2.954,86 2.447,49 2.912,43
2.912,43 123.608.160.000
1-Mar-20 2.974,28 3.136,72 2.191,86 2.584,59
2.584,59 162.185.380.000
1-Feb-20 3.235,66 3.393,52 2.855,84 2.954,22
2.954,22 84.436.590.000
1-Jan-20 3.244,67 3.337,77 3.214,64 3.225,52
3.225,52 77.287.980.000
1-Dec-19 3.143,85 3.247,93 3.070,33 3.230,78
3.230,78 72.325.540.000
31-Oct-19 3.050,72 3.154,26 3.050,72 3.140,98
3.140,98 72.410.620.000
30-Sep-19 2.983,69 3.050,10 2.855,94 3.037,56
3.037,56 77.720.640.000
31-Aug-19 2.909,01 3.021,99 2.891,85 2.976,74
2.976,74 74.178.980.000
31-Jul-19 2.980,32 3.013,59 2.822,12 2.926,46
2.926,46 80.269.220.000
30-Jun-19 2.971,41 3.027,98 2.952,22 2.980,38
2.980,38 70.599.470.000
31-May-19 2.751,53 2.964,15 2.728,81 2.941,76
2.941,76 71.250.630.000
30-Apr-19 2.952,33 2.954,13 2.750,52 2.752,06
2.752,06 77.250.740.000
31-Mar-19 2.848,63 2.949,52 2.848,63 2.945,83
2.945,83 70.090.370.000
1-Mar-19 2.798,22 2.860,31 2.722,27 2.834,40
2.834,40 79.159.660.000
1-Feb-19 2.702,32 2.813,49 2.681,83 2.784,49
2.784,49 70.638.770.000
1-Jan-19 2.476,96 2.708,95 2.443,96 2.704,10
2.704,10 80.859.870.000
1-Dec-18 2.790,50 2.800,18 2.346,58 2.506,85
2.506,85 84.162.180.000
31-Oct-18 2.717,58 2.815,15 2.631,09 2.760,17
2.760,17 80.620.020.000
*Close price adjusted for splits.**Adjusted close price adjusted for splits and dividend and/or capital gain distributions.
capital gain distributions.
Average Return on Equity
49.36% Note: in this particular case, it makes sense to go back a few years and take an average
Cost of Equity
5.04%
Spread
44.32%
a few years and take an average ROE (2017-2015).
Liquidity Ratios
Current Ratio
2019
2018
Current Assets
Current Liabilities
$
$
5,653,900
6,168,700
0.92
2.20
Current Assets – Inventories
Current Liabilities
$
$
4,124,500
6,168,700
0.67
1.95
Cost of Goods Sold
Inventory
$
$
8,526,900
1,529,400
5.58
7.26
Accounts Receivable
Sales/365
$
$
879,200
72,626
12.11
10.23
Fixed Asset Turnover
Sales
Net Fixed Assets
$
$
26,508,600
6,431,700
4.12
4.17
Total Asset Turnover
Sales
Total Assets
$
$
26,508,600
19,219,600
1.38
1.02
Total Liabilities
Total Assets
$
$
25,450,600
19,219,600
1.32
0.95
EBIT
Interest Expense
$
$
4,797,200
331,000
14.49
34.94
Net Income
Sales
$
$
3,599,200
26,508,600
13.6%
18.3%
Return on Assets (ROA)
Net Income
Total Assets
$
$
3,599,200
19,219,600
18.7%
18.7%
Return on Equity (ROE)
Net Income
Total Equity
$
$
3,599,200
(6,232,200)
-57.8% 384.3%
Quick Ratio
Asset Management Ratios
Inventory Turnover
Days Sales Outstanding (DSO)
Debt Management Ratios
Debt Ratio
Times Interest Earned
Profitability Ratios
Profit Margin
94.9%
Market Valuation Ratios
Price per Share (for YE 9/30)
Price/Earnings (PE)
$82.83 $56.00
Price per share
Earnings per share
$
$
82.83
2.95
28.08
17.13
Market/Book (MB)
Price per share x Shares Out
Book Value of Equity
$ 101,149,408
$ (6,232,200)
-16.23
66.21
2017
2016
2015
1.25
1.05
1.19
0.93
0.74
0.83
6.63
6.17
5.96
14.19
13.16
13.70
4.55
4.70
4.69
1.56
1.49
1.54
0.62
0.59
0.53
47.68
52.64
56.36
12.9%
13.2%
14.4%
20.1%
19.7%
22.2%
52.9%
47.8%
47.4%
49.4% Note: in this particular case, it makes sense to go back a few years and take an average.
$51.52 $48.98 $56.97
25.89
25.64
30.96
13.70
12.25
14.65
Cost of Equity
Company
Starbucks
Beta (from Regression)
Riskfree Rate =
Equity Risk Premium used in cost of equity =
0.76
0.71%
5.69%
Cost of Equity
5.04%
SUMMARY OUTPUT
Regression Statistics
Multiple R
0.530066398
R Square
0.280970386
Adjusted R Square
0.268573324
Standard Error
0.05172881
Observations
60
ANOVA
df
Regression
Residual
Total
1
58
59
SS
MS
F
Significance F
0.060646639 0.060646639 22.66427155 1.32666E-05
0.155200446 0.00267587
0.215847085
Coefficients Standard Error
t Stat
P-value
0.000960095
0.006858028 0.139995742 0.889148387
0.761322019
0.159918058 4.760700741 1.32666E-05
Intercept
X Variable 1
RESIDUAL OUTPUT
Observation
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
Predicted Y
-0.019171415
0.064136969
0.001344463
-0.012386021
-0.037665823
-0.002182917
0.051200583
0.003015206
0.012627052
0.001653599
0.02807062
3.1858E-05
2.02801E-05
-0.013829103
0.026977911
0.014816736
0.01457585
0.029279873
0.00066379
0.007881432
0.00977335
0.004624928
0.015690782
0.001376106
0.015655877
0.017852411
0.003792245
0.02710584
0.043730179
-0.028691397
Residuals
0.037879474
0.036672177
-0.020203416
-0.006601343
0.049993097
-0.039943261
-0.022251987
-0.061138984
-0.036457788
0.042614158
-0.011789082
-0.031384161
-0.033836028
-0.005934261
0.065352927
-0.052643663
-0.019979152
0.000600449
0.03069038
0.020719428
0.049334082
-0.084168976
-0.089949124
0.014926297
-0.032198824
0.003186614
0.050547525
-0.028589121
-0.054525745
0.033796131
Lower 95%
Upper 95%
-0.01276774 0.014687929
0.441211246 1.081432793
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
-0.019507666
0.003029958
0.017411001
0.004646748
0.028384099
0.024000144
0.00422943
-0.051878208
0.014556816
-0.068911676
0.060864262
0.023593353
0.014606226
0.030890327
-0.04911794
0.053438146
0.010954846
-0.01281346
0.014040504
0.016515252
0.026880854
0.022726153
-0.000279408
-0.063075069
-0.09429597
0.097529254
0.035434141
0.014959586
0.042909944
0.01961655
0.038841959
-0.008557566
-0.033044372
-0.138130951
0.044082782
-0.003767361
0.066597804
0.07703655
0.130457913
0.039321758
-0.002789638
0.007519222
0.048985395
0.014038576
0.028263054
0.053831148
0.118593184
0.032561995
-0.094869711
-0.060170499
-0.016592289
0.011565074
-0.034866239
-0.012370022
-0.063597763
0.069644504
-0.019012932
-0.06604464
-0.002958842
-0.029285917
Lower 95.0% Upper 95.0%
-0.01276774 0.014687929
0.441211246 1.081432793
Monthly Stock Returns: for regression
Date
8/1/2015
9/1/2015
10/1/2015
11/1/2015
12/1/2015
1/1/2016
2/1/2016
3/1/2016
4/1/2016
5/1/2016
6/1/2016
7/1/2016
8/1/2016
9/1/2016
10/1/2016
11/1/2016
12/1/2016
1/1/2017
2/1/2017
3/1/2017
4/1/2017
5/1/2017
6/1/2017
7/1/2017
8/1/2017
9/1/2017
10/1/2017
11/1/2017
12/1/2017
1/1/2018
2/1/2018
3/1/2018
4/1/2018
5/1/2018
6/1/2018
7/1/2018
8/1/2018
9/1/2018
10/1/2018
11/1/2018
12/1/2018
1/1/2019
2/1/2019
3/1/2019
SBUX
S&P
0.018708
0.100809
-0.01886
-0.01899
0.012327
-0.04213
0.028949
-0.05812
-0.02383
0.044268
0.016282
-0.03135
-0.03382
-0.01976
0.092331
-0.03783
-0.0054
0.02988
0.031354
0.028601
0.059107
-0.07954
-0.07426
0.016302
-0.01654
0.021039
0.05434
-0.00148
-0.0108
0.005105
0.019334
-0.00553
-0.01563
-0.13348
0.072467
0.020233
0.070827
0.025158
0.145015
-0.02959
0.058075
0.031113
0.063592
-0.02644
0.082983
0.000505
-0.01753
-0.05074
-0.00413
0.065991
0.002699
0.015325
0.000911
0.03561
-0.00122
-0.00123
-0.01943
0.034175
0.018201
0.017884
0.037198
-0.00039
0.009091
0.011576
0.004814
0.019349
0.000546
0.019303
0.022188
0.00372
0.034343
0.056179
-0.03895
-0.02688
0.002719
0.021608
0.004842
0.036022
0.030263
0.004294
-0.0694
0.017859
-0.09178
0.078684
0.029729
0.017924
4/1/2019
5/1/2019
6/1/2019
7/1/2019
8/1/2019
9/1/2019
10/1/2019
11/1/2019
12/1/2019
1/1/2020
2/1/2020
3/1/2020
4/1/2020
5/1/2020
6/1/2020
7/1/2020
8/1/2020
0.044929
-0.02085
0.107269
0.129548
0.019749
-0.08083
-0.04366
0.010289
0.034291
-0.03515
-0.07545
-0.15789
0.167174
0.016421
-0.05109
0.039951
-0.00967
0.039313
-0.06578
0.06893
0.013128
-0.01809
0.017181
0.020432
0.034047
0.02859
-0.00163
-0.08411
-0.12512
0.126844
0.045282
0.018388
0.055101
0.024505
Date
Open
High
Low
Close
Adj Close Volume
8/1/2015
52.99
56.21
51.27
55.95
50.805 3.1E+07
9/1/2015
53
58.96
52.74
56.84 51.7554 1.9E+08
10/1/2015
56.99
64
55.89
62.57 56.9728
2E+08
11/1/2015
63.01
63.19
59.5
61.39 55.8984 1.4E+08
12/1/2015
61.08
62.54
58.27
60.03
54.837 1.7E+08
1/1/2016
58.77
60.88
54.94
60.77
55.513 2.6E+08
2/1/2016
60.66
61.79
52.63
58.21 53.1745 2.2E+08
3/1/2016
58.77
60.45
56.57
59.7 54.7138 1.8E+08
4/1/2016
59.61
61.64
55.29
56.23 51.5336
2E+08
5/1/2016
56.29
57.6
54.19
54.89 50.3055 1.6E+08
6/1/2016
54.76
57.19
53.41
57.12 52.5324 1.9E+08
7/1/2016
57.04
58.84
56.06
58.05 53.3878
2E+08
8/1/2016
58
58.05
54.85
56.23 51.7139 1.8E+08
9/1/2016
56.3
56.65
52.9
54.14 49.9652 1.9E+08
10/1/2016
54.1
54.46
52.59
53.07 48.9777 1.5E+08
11/1/2016
53.14
58.25
50.84
57.97 53.4999 2.4E+08
12/1/2016
57.34
59.54
55.4
55.52 51.4761 1.7E+08
1/1/2017
55.91
59
54.88
55.22
51.198 1.9E+08
2/1/2017
55.49
57.85
53.81
56.87 52.7278
2E+08
3/1/2017
57.27
58.66
54.09
58.39
54.381 2.3E+08
4/1/2017
58.28
61.94
57.38
60.06 55.9364 1.8E+08
5/1/2017
60
63.61
58.87
63.61 59.2426 1.6E+08
6/1/2017
63.51
64.87
57.96
58.31 54.5302 1.7E+08
7/1/2017
58.9
59.66
53.41
53.98 50.4809 2.2E+08
8/1/2017
54.57
56.12
52.58
54.86 51.3039 2.4E+08
9/1/2017
54.9
55.6
53.05
53.71 50.4551 1.8E+08
10/1/2017
53.86
56.43
53.66
54.84 51.5167 1.8E+08
11/1/2017
55.1
58.14
54.05
57.82 54.3161 2.2E+08
12/1/2017
57.5
60.05
56.46
57.43 54.2355 1.8E+08
1/1/2018
57.95
61.94
56.55
56.81
53.65 2.4E+08
2/1/2018
56.28
57.92
53.56
57.1 53.9239 2.4E+08
3/1/2018
57
60.7
55.68
57.89 54.9665 1.9E+08
4/1/2018
57.52
60.18
55.38
57.57 54.6626 1.8E+08
5/1/2018
57.67
59.04
55.54
56.67 53.8081 1.5E+08
6/1/2018
56.84
57.94
47.37
48.85 46.6255 3.4E+08
7/1/2018
48.64
52.85
48.4
52.39 50.0043 2.4E+08
8/1/2018
52.24
54.44
51.2
53.45 51.0161
2E+08
9/1/2018
53.44
57.84
53.21
56.84 54.6294 1.8E+08
10/1/2018
56.91
59.7
54.71
58.27 56.0038 2.9E+08
11/1/2018
58.3
68.98
58.07
66.72 64.1252 3.3E+08
12/1/2018
67.37
68.15
60.42
64.4 62.2277 2.5E+08
1/1/2019
63.68
69.49
61.4
68.14 65.8415 2.8E+08
2/1/2019
68.59
72.07
67.08
70.26
67.89 2.2E+08
3/1/2019
70.63
74.48
69.03
74.34 72.2073 1.9E+08
4/1/2019
74.76
77.79
73.73
77.68 75.4515 1.5E+08
5/1/2019
77.67
79.65
74.33
76.06 73.8779 1.7E+08
Monthly Return
0.01871
0.10081
-0.01886
-0.01899
0.01233
-0.04213
0.02895
-0.05812
-0.02383
0.04427
0.01628
-0.03135
-0.03382
-0.01976
0.09233
-0.03783
-0.0054
0.02988
0.03135
0.0286
0.05911
-0.07954
-0.07426
0.0163
-0.01654
0.02104
0.05434
-0.00148
-0.0108
0.0051
0.01933
-0.00553
-0.01563
-0.13348
0.07247
0.02023
0.07083
0.02516
0.14501
-0.02959
0.05807
0.03111
0.06359
0.04493
-0.02085
6/1/2019
7/1/2019
8/1/2019
9/1/2019
10/1/2019
11/1/2019
12/1/2019
1/1/2020
2/1/2020
3/1/2020
4/1/2020
5/1/2020
6/1/2020
7/1/2020
8/1/2020
76.12
84.62
95
96.42
88.63
84.79
85.38
88.12
85.07
77.92
63
74.9
77.66
74
76.48
85.2
99.72
98.14
97.21
88.89
86.73
89.3
94.13
90.51
82.62
79.61
80.06
83.62
78.49
76.6
75.65
84.03
93.03
87.61
82.13
81.03
83.82
84.52
75.72
50.02
60.9
70.65
71.06
71.82
74.76
83.83
94.69
96.56
88.42
84.56
85.43
87.92
84.83
78.43
65.74
76.73
77.99
73.59
76.53
75.79
81.8028
92.4002
94.2249
86.6088
82.8279
83.6801
86.5496
83.5077
77.2075
65.0169
75.886
77.1321
73.1918
76.1159
75.38
1.6E+08
0.10727
1.7E+08
0.12955
1.4E+08
0.01975
1.3E+08
-0.08083
1.4E+08 Note: because
-0.04366
Starbucks as a fiscal year end of 9/
1.4E+08
0.01029
1.3E+08
0.03429
1.7E+08
-0.03515
1.7E+08
-0.07545
4.5E+08
-0.15789
2.8E+08
0.16717
2E+08
0.01642
2.6E+08
-0.05109
1.9E+08
0.03995
4.1E+07
-0.00967
Date
Open
High
Low
Close
Adj Close Volume
8/1/2015 2104.49 2112.66 1867.01 1972.18 1972.18 8.5E+10
9/1/2015 1970.09 2020.86 1871.91 1920.03 1920.03
8E+10
10/1/2015 1919.65 2094.32
1893.7 2079.36 2079.36 8.6E+10
11/1/2015 2080.76 2116.48 2019.39 2080.41 2080.41 7.6E+10
12/1/2015 2082.93 2104.27 1993.26 2043.94 2043.94 8.4E+10
1/1/2016
2038.2
2038.2 1812.29 1940.24 1940.24 9.2E+10
2/1/2016 1936.94 1962.96
1810.1 1932.23 1932.23 9.3E+10
3/1/2016 1937.09 2072.21 1937.09 2059.74 2059.74 9.3E+10
4/1/2016 2056.62 2111.05
2033.8
2065.3
2065.3 8.1E+10
5/1/2016 2067.17 2103.48 2025.91 2096.95 2096.95 7.9E+10
6/1/2016 2093.94 2120.55 1991.68 2098.86 2098.86 8.7E+10
7/1/2016 2099.34 2177.09 2074.02
2173.6
2173.6
7E+10
8/1/2016 2173.15 2193.81 2147.58 2170.95 2170.95 7.6E+10
9/1/2016 2171.33 2187.87 2119.12 2168.27 2168.27 7.7E+10
10/1/2016 2164.33
2169.6 2114.72 2126.15 2126.15 7.3E+10
11/1/2016 2128.68
2214.1 2083.79 2198.81 2198.81 8.8E+10
12/1/2016 2200.17 2277.53 2187.44 2238.83 2238.83 7.5E+10
1/1/2017 2251.57 2300.99 2245.13 2278.87 2278.87
7E+10
2/1/2017 2285.59 2371.54 2271.65 2363.64 2363.64 6.9E+10
3/1/2017 2380.13 2400.98 2322.25 2362.72 2362.72 8.2E+10
4/1/2017 2362.34 2398.16 2328.95
2384.2
2384.2 6.5E+10
5/1/2017
2388.5 2418.71 2352.72
2411.8
2411.8
8E+10
6/1/2017 2415.65 2453.82
2405.7 2423.41 2423.41 8.1E+10
7/1/2017 2431.39 2484.04
2407.7
2470.3
2470.3 6.3E+10
8/1/2017
2477.1 2490.87 2417.35 2471.65 2471.65 7.1E+10
9/1/2017 2474.42 2519.44 2446.55 2519.36 2519.36 6.6E+10
10/1/2017
2521.2 2582.98
2520.4 2575.26 2575.26 7.1E+10
11/1/2017 2583.21 2657.74 2557.45 2584.84 2584.84 9.5E+10
12/1/2017
2645.1 2694.97 2605.52 2673.61 2673.61 6.5E+10
1/1/2018 2683.73 2872.87 2682.36 2823.81 2823.81 7.7E+10
2/1/2018 2816.45 2835.96 2532.69 2713.83 2713.83
8E+10
3/1/2018 2715.22
2801.9 2585.89 2640.87 2640.87 7.6E+10
4/1/2018 2633.45 2717.49
2553.8 2648.05 2648.05
7E+10
5/1/2018 2642.96 2742.24 2594.62 2705.27 2705.27 7.6E+10
6/1/2018
2718.7 2791.47 2691.99 2718.37 2718.37 7.7E+10
7/1/2018 2704.95 2848.03 2698.95 2816.29 2816.29 6.5E+10
8/1/2018 2821.17
2916.5 2796.34 2901.52 2901.52 6.9E+10
9/1/2018 2896.96 2940.91 2864.12 2913.98 2913.98 6.2E+10
10/1/2018 2926.29 2939.86 2603.54 2711.74 2711.74 9.1E+10
11/1/2018 2717.58 2815.15 2631.09 2760.17 2760.17
8E+10
12/1/2018
2790.5 2800.18 2346.58 2506.85 2506.85 8.4E+10
1/1/2019 2476.96 2708.95 2443.96
2704.1
2704.1
8E+10
2/1/2019 2702.32 2813.49 2681.83 2784.49 2784.49
7E+10
3/1/2019 2798.22 2860.31 2722.27
2834.4
2834.4 7.9E+10
4/1/2019 2848.63 2949.52 2848.63 2945.83 2945.83
7E+10
5/1/2019 2952.33 2954.13 2750.52 2752.06 2752.06 7.7E+10
Monthly Return
-0.02644
0.08298
0.0005
-0.01753
-0.05074
-0.00413
0.06599
0.0027
0.01532
0.00091
0.03561
-0.00122
-0.00123
-0.01943
0.03417
0.0182
0.01788
0.0372
-0.00039
0.00909
0.01158
0.00481
0.01935
0.00055
0.0193
0.02219
0.00372
0.03434
0.05618
-0.03895
-0.02688
0.00272
0.02161
0.00484
0.03602
0.03026
0.00429
-0.0694
0.01786
-0.09178
0.07868
0.02973
0.01792
0.03931
-0.06578
6/1/2019
7/1/2019
8/1/2019
9/1/2019
10/1/2019
11/1/2019
12/1/2019
1/1/2020
2/1/2020
3/1/2020
4/1/2020
5/1/2020
6/1/2020
7/1/2020
8/1/2020
2751.53
2971.41
2980.32
2909.01
2983.69
3050.72
3143.85
3244.67
3235.66
2974.28
2498.08
2869.09
3038.78
3105.92
3288.26
2964.15
3027.98
3013.59
3021.99
3050.1
3154.26
3247.93
3337.77
3393.52
3136.72
2954.86
3068.67
3233.13
3279.99
3352.54
2728.81
2952.22
2822.12
2891.85
2855.94
3050.72
3070.33
3214.64
2855.84
2191.86
2447.49
2766.64
2965.66
3101.17
3284.53
2941.76
2980.38
2926.46
2976.74
3037.56
3140.98
3230.78
3225.52
2954.22
2584.59
2912.43
3044.31
3100.29
3271.12
3351.28
2941.76
2980.38
2926.46
2976.74
3037.56
3140.98
3230.78
3225.52
2954.22
2584.59
2912.43
3044.31
3100.29
3271.12
3351.28
7.1E+10
7E+10
8E+10
7.4E+10
7.8E+10
7.2E+10
7.2E+10
7.7E+10
8.4E+10
1.6E+11
1.2E+11
1.1E+11
1.3E+11
9.7E+10
2.2E+10
0.06893
0.01313
-0.01809
0.01718
0.02043
0.03405
0.02859
-0.00163
-0.08411
-0.12512
0.12684
0.04528
0.01839
0.0551
0.02451
Powered by Clearbit
Starbucks Corp. (NMS: SBUX)
Exchange rate used is that of the Year End reported date
As Reported Annual Income Statement
Report Date
Currency
Audit Status
Consolidated
Scale
Company-operated stores revenues
Licensed stores revenues
Global consumer products group (CPG), foodservice & other revenues
Total net revenues
Cost of sales including occupancy costs
Store operating expenses
Other operating expenses
Depreciation & amortization expenses
General & administrative expenses
Restructuring & impairments
Total operating expenses
Income from equity investees
Operating income (loss)
Gain resulting from acquisition of joint venture
Net gain resulting from divestiture of certain operations
Loss on extinguishment of debt
Interest income & other income, net
Interest expense
Interest Rate
Earnings (loss) before income taxes – United States
Earnings (loss) before income taxes – foreign
Earnings (loss) before income taxes
EBIT – Earnings Before Interest and Taxes
EBITDA – Earnings Before Interest Taxes Depreciation and Amort
Current United States federal income taxes expense (benefit)
Current United States state & local income taxes sxpense (benefit)
Current foreign income taxes expense (benefit)
Total current income taxes expense (benefit)
Deferred United States federal income taxes expense (benefit)
Deferred United States state & lcoal income taxes expense (benefit)
Deferred foreign income taxes expense (benefit)
Total deferred income taxes expense (benefit)
Income tax expense (benefit)
Tax Rate
Net earnings (loss) including noncontrolling interests
Net earnings (loss) attributable to noncontrolling interests
Net earnings attributable to Starbucks Corporation
Weighted average shares outstanding – basic
09/29/2019
USD
Not Qualified
Yes
Thousands
21544400
2875000
2089200
26508600
8526900
10493600
371000
1377300
1824100
135800
22728700
298000
4077900
622800
96500
331000
2.96%
3518700
947500
4466200
4797200
6174500
1414300
447800
458300
2320400
-1074500
-322400
-51900
-1448800
871600
19.5%
3594600
4600
3599200
1221200
09/30/2018
USD
Not
Available
Yes
Thousands
19690300
2652200
2377000
24719500
10174500
7193200
539300
1247000
1759000
224400
21137400
301200
3883300
1376400
499200
191400
170300
1.87%
4826000
5780000
5950300
7197300
156200
52000
327000
535200
633700
101500
-8400
726800
1262000
21.8%
4518000
300
4518300
1382700
Weighted average shares outstanding – diluted
Year end shares outstanding
Net earnings (loss) per share – basic
Net earnings (loss) per share – diluted
Cash dividends declared per share
Total number of employees
Number of common stockholders
Foreign currency translation adjustments
1233200
1184600
2.95
2.92
1.49
346000
18000
-146200
1394600
1309100
3.27
3.24
291000
18100
-220000
10/01/2017
10/02/2016
09/27/2015
USD
USD
USD
Not Qualified Not Qualified Not Qualified
Yes
Thousands
17650700
2355000
2381100
22386800
9038200
6493300
553800
1011400
1393300
153500
18643500
391400
4134700
275300
92500
2.35%
3393000
924500
4317500
4410000
5421400
931000
170800
216600
1318400
121200
14200
-21200
114200
1432600
33.2%
2884900
-200
2884700
1449500
Yes
Thousands
16844100
2154200
2317600
21315900
8511100
6064300
545400
980800
1360600
17462200
318200
4171900
108000
81300
2.26%
3415700
782900
4198600
4279900
5260700
704100
166500
218500
1089100
351300
25800
-86500
290600
1379700
32.9%
2818900
-1200
2817700
1471600
Yes
Thousands
15197300
1861900
2103500
19162700
7787500
5411100
522400
893900
1196700
15811600
249900
3601000
390600
-61100
43000
70500
3.00%
2837200
1065800
3903000
3973500
4867400
801000
150100
172200
1123300
56500
4000
-40100
20400
1143700
29.3%
2759300
-1900
2757400
1495900
1461500
1431600
1.99
1.97
1.05
277000
18100
-38300
1486700
1460500
1.91
1.9
0.85
254000
18100
85500
1513400
1485100
1.84
1.82
0.68
238000
17900
-222700
Powered by Clearbit
Starbucks Corp. (NMS: SBUX)
Exchange rate used is that of the Year End reported date
As Reported Annual Balance Sheet
Report Date
Currency
Audit Status
Consolidated
Scale
Cash & cash equivalents
Short-term investments – available-for-sale securities
Short-term investments – trading securities
Short-term investments
Accounts receivable, gross
Allowance for doubtful accounts
Accounts receivable, net
Coffee – unroasted
Coffee – roasted
Other merchandise held for sale
Packaging & other supplies
Inventories
Prepaid expenses & other current assets
Deferred income taxes, net
Total current assets
Long-term investments
Equity method investments
Cost method investments
Equity & cost investments
Land
Buildings
Leasehold improvements
Store equipment
Roasting equipment
Furniture, fixtures & other property, plant & equipment
Work in progress
Property, plant & equipment, gross
Accumulated depreciation
Property, plant & equipment, net
Deferred income taxes, net
Other long-term assets
Other intangible assets
Goodwill
Total assets
Accounts payable
Accrued compensation & related costs
Accrued occupancy costs
Accrued taxes
09/29/2019
USD
Not Qualified
Yes
Thousands
2,686,600
4,000
66,500
70,500
885,900
6,700
879,200
656,500
276,500
288,000
308,400
1,529,400
488,200
5,653,900
220,000
336,100
59,900
396,000
46,800
691,500
7,948,600
2,659,500
769,600
1,799,000
358,500
14,273,500
7,841,800
6,431,700
1,765,800
479,600
781,800
3,490,800
19,219,600
09/30/2018
USD
Not Available
Yes
Thousands
8,756,300
106,200
75,300
181,500
701,100
8,000
693,100
588,600
281,200
273,100
257,600
1,400,500
1,462,800
12,494,200
267,700
296,000
38,700
334,700
46,800
557,300
7,372,800
2,400,200
658,800
1,659,300
501,900
13,197,100
7,268,000
5,929,100
134,700
412,200
1,042,200
3,541,600
24,156,400
1,189,700
176,900
–
1,179,300
656,800
164,200
286,600
Accrued dividend payable
Accrued capital & other operating expenditures
Self insurance reserves
Accrued business taxes
Other accrued liabilities
Accrued liabilities
Accrued payroll & benefits
Insurance reserves
Stored value card liability
Income taxes payable
Deferred revenue
Current portion of long-term debt
Total current liabilities
Senior notes
Aggregate unamortized premium (discount)
Hedge accounting fair value adjustment
Less: current portion of long-term debt
Long-term debt
Deferred revenue
Other long-term liabilities
Total liabilities
Common stock
Additional paid-in capital
Retained earnings (accumulated deficit)
Available-for-sale securities
Cash flow hedges
Net investment hedges
Translation adjustment & other accumulated comprehensive income
Translation adjustment
Accumulated other comprehensive income (loss)
Total shareholders’ equity
Noncontrolling interests
Total equity
Total liabilities and equity
D/E
D/E Averages
485,700
703,900
210,500
176,700
1,753,700
664,600
1,291,700
1,269,000
6,168,700
11,238,300
(83,100)
11,800
11,167,000
6,744,400
1,370,500
25,450,600
1,200
41,100
(5,771,200)
3,900
11,000
(10,100)
(508,100)
(503,300)
(6,232,200)
1,200
(6,231,000)
19,219,600
445,400
745,400
2,298,400
213,700
1,642,900
349,900
5,684,200
9,090,200
6,775,700
1,430,500
22,980,600
1,300
41,100
1,457,400
(4,900)
17,700
19,600
(362,700)
(330,300)
1,169,500
6,300
1,175,800
24,156,400
(1.79)
1.53
7.73
10/01/2017
USD
Not Qualified
Yes
Thousands
2,462,300
151,700
76,900
228,600
880,200
9,800
870,400
541,000
301,100
301,100
220,800
1,364,000
358,100
5,283,400
542,300
432,800
48,800
481,600
46,900
481,700
6,401,000
2,110,700
619,800
1,514,100
409,800
11,584,000
6,664,500
4,919,500
795,400
362,800
441,400
1,539,200
14,365,600
10/02/2016
USD
Not Qualified
Yes
Thousands
2,128,800
65,700
68,700
134,400
778,200
9,400
768,800
561,600
300,400
308,600
207,900
1,378,500
350,000
4,760,500
1,141,700
305,700
48,800
354,500
46,600
458,400
5,892,900
1,931,700
605,400
1,366,900
271,400
10,573,300
6,039,500
4,533,800
885,400
417,700
516,300
1,719,600
14,329,500
09/27/2015
USD
Not Qualified
Yes
Thousands
1,530,100
15,500
65,800
81,300
729,800
10,800
719,000
529,400
279,700
318,300
179,000
1,306,400
334,200
381,700
4,352,700
312,500
306,400
45,600
352,000
46,600
411,500
5,409,600
1,707,500
542,400
1,281,700
242,500
9,641,800
5,553,500
4,088,300
828,900
415,900
520,400
1,575,400
12,446,100
782,500
524,500
151,300
226,600
730,600
510,800
137,500
368,400
684,200
522,300
137,200
259,000
429,500
602,600
1,934,500
215,200
1,288,500
4,220,700
3,955,300
(17,500)
(5,200)
3,932,600
755,300
8,908,600
1,400
41,100
5,563,200
(2,500)
(4,100)
14,000
(163,000)
(155,600)
5,450,100
6,900
5,457,000
14,365,600
365,100
617,300
1,999,100
246,000
1,171,200
400,000
4,546,900
3,600,000
2,200
400,000
3,602,200
689,700
8,438,800
1,500
41,100
5,949,800
1,100
10,900
1,300
(121,700)
(108,400)
5,884,000
6,700
5,890,700
14,329,500
297,000
545,200
1,760,700
224,800
983,800
3,653,500
2,347,500
2,347,500
625,300
6,626,300
1,500
41,100
5,974,800
(100)
25,600
1,300
(226,200)
(199,400)
5,818,000
1,800
5,819,800
12,446,100
0.72
0.58
0.61
0.40
Purchase answer to see full
attachment
