SBUXStarbucks

Consumer discretionary · Restaurants · Nasdaq

Starbucks is the premier roaster, marketer, and retailer of specialty coffee in the world, operating in 89 markets. 10-K, Item 1

Employees: 381,000
Headquarters: Seattle, WA
CEO: Brian R. Niccol
Next results: around Jan 27, 2027

Compare with peers → Embed

RevenueFY2016–25 $37.2B+2.8% Highest in 10 years 10-K FY2025 · XBRL Net incomeFY2016–25 $1.9B−50.6% FY2024: $3.8B 10-K FY2025 · XBRL Free cash flowFY2016–25 $2.4B−26.4% FY2024: $3.3B 10-K FY2025 · XBRL Operating marginFY2016–25 7.9%−7.1 pts 19.6% in FY2016 10-K FY2025 · XBRL

What changed

10-K filed Nov 14, 2025 against Nov 20, 2024

Area	What changed	Source
Risk factors	58 new paragraphs, nothing like them in the previous 10-K	10-K Item 1A
Inventory growing faster than revenue	Inventory +23.0% vs revenue +2.8% (+20.2 pts)	10-K · XBRL
Accounting checks	10 other checks clear, 1 worth a look	10-K · XBRL
Insiders	No open-market buys in the last 90 days	Form 4
Filings	1 in the last 30 days	EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

What's new, in their words

10-K filed Nov 14, 2025

Paragraphs in Risk Factors that were not in the 10-K filed 2024-11-20. Quoted as filed.

Various factors, events, or conditions may result in a diminution or erosion of trust in our brand value. Adverse developments pertaining to the matters discussed elsewhere in this risk factors section may negatively impact the value of our brands. Such developments may include difficulties executing strategic initiatives, adapting to…
10-K, Item 1A

All 58 new paragraphs →

Accounting checks

latest 10-K

10 of 11 clear 1 worth a look. Checks, not verdicts.

!
Inventory growing faster than revenueInventory +23.0% vs revenue +2.8% (+20.2 pts)
✓
Receivables +5.2% vs revenue +2.8% (+2.5 pts)
✓
Cash from operations $4.7B vs net income $1.9B (FY ending 2025-09-28)
✓
Same auditor in both 10-Ks: DELOITTE & TOUCHE LLP
✓
No statement of substantial doubt about going concern
✓
No 8-K item 4.02 in the last 2 years
✓
No NT 10-K or NT 10-Q in the last 2 years
✓
The same matters as last year: Goodwill Impairment Assessments for China Reporting Unit
✓
No sentence in the 10-K concludes that controls were not effective because of a material weakness
✓
No 8-K item 2.06 in the last 2 years
✓
No 8-K item 1.03 in the last 2 years

How each check works, with sources →

In the last 30 days

All filings →

Oct 29, 20268-K Quarterly results 8-K item 2.02

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