Starbucks SBUX
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
SBUX among Consumer discretionary peers
Six ratios from the latest 10-K. Each corner is the share of 46 peers the company is above, not a score.
What changed
58 new risk paragraphs and 1 accounting fact worth reading about. 10-K filed Nov 14, 2025 against Nov 20, 2024.
Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.
Accounting checks
11 checks on the latest 10-K. Checks, not verdicts.
1fact worth reading about the other 10 checks found nothing to note
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Inventory growing faster than revenueInventory +23.0% vs revenue +2.8% (+20.2 pts)
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Receivables +5.2% vs revenue +2.8% (+2.5 pts)
9 more checks with nothing to note
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Cash from operations $4.7B vs net income $1.9B (FY ending Sep 28, 2025)
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Same auditor in both 10-Ks: DELOITTE & TOUCHE LLP
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No statement of substantial doubt about going concern
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No 8-K item 4.02 in the last 2 years
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No NT 10-K or NT 10-Q in the last 2 years
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The same matters as last year: Goodwill Impairment Assessments for China Reporting Unit
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No sentence in the 10-K concludes that controls were not effective because of a material weakness
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No 8-K item 2.06 in the last 2 years
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No 8-K item 1.03 in the last 2 years
In their words
58 paragraphs in Risk Factors that were not in the 10-K filed Nov 20, 2024. Quoted as filed.
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Item 1A · new paragraph · not in the 10-K filed Nov 20, 2024 10-K, ITEM 1A
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…
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Item 1A · new paragraph · not in the 10-K filed Nov 20, 2024 10-K, ITEM 1A
Our continued success depends on our ability to adapt brand, marketing, promotional, advertising, and pricing strategies to shifting economic conditions, competitive pressures, and evolving customer preferences. We operate in a complex and costly marketing environment. Decisions to collaborate or refrain from collaborating with certain…
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Item 1A · new paragraph · not in the 10-K filed Nov 20, 2024 10-K, ITEM 1A
We undertake these initiatives in the context of ongoing efforts to adapt to shifting consumer behaviors amid economic volatility, optimize our mix of licensed and company-operated stores, expand relevant product offerings across dayparts, and drive growth in cold beverages and Channel Development partnerships, while also advancing…
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Item 1A · new paragraph · not in the 10-K filed Nov 20, 2024 10-K, ITEM 1A
Our success depends on attracting and retaining customers. Financial performance may be adversely affected by reduced discretionary spending, lack of acceptance of new products, brands, or platforms, or declining demand for existing offerings. We have previously been, and may in the future be, unable to accurately predict consumer…
New risk paragraphs, against peers
Latest 10-K of each, Consumer discretionary companies closest in revenue
Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.
Financial performance
Last 4 fiscal years · 10-K XBRL
| Metric | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Revenue | $32.3B | $36.0B | $36.2B | $37.2B |
| Net income | $3.3B | $4.1B | $3.8B | $1.9B |
| Operating cash flow | $4.4B | $6.0B | $6.1B | $4.7B |
| Free cash flow | $2.6B | $3.7B | $3.3B | $2.4B |
Revenue, FY2016 to FY2025
Ten fiscal years, each from its own 10-K · XBRL · USD
$37.2B ▲ 2.8% in FY2025$1.9B ▼ 50.6% in FY2025$2.4B ▼ 26.4% in FY2025
Recent filings
1 filing in the last 30 days · SEC EDGAR
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8-KOct 29, 2026Quarterly results 8-K item 2.02
About the company
Starbucks, Seattle, WA · from the 10-K filed Nov 14, 2025
Starbucks is the premier roaster, marketer, and retailer of specialty coffee in the world, operating in 89 markets. Formed in 1985, Starbucks Corporation’s common stock trades on the Nasdaq Global Select Market (“Nasdaq”) under the symbol “SBUX.” We purchase and roast high-quality coffees that we sell, along with handcrafted coffee, tea, and other beverages and a variety of high-quality food items through company-operated stores (“stores” or “coffeehouses”). We also sell a variety of coffee and tea products and license our trademarks through other channels, such as licensed stores as well as grocery and foodservice through our Global Coffee Alliance with Nestlé S.A. (“Nestlé”).
- Headquarters
- Seattle, WA
- Country
- United States
- Reports in
- USD
- Listed on
- Nasdaq
- Fiscal year ends
- September 28
- Last results
- Oct 29, 2026
- Incorporated in
- WA
Employees, at the top of the page: "As of September 28, 2025, Starbucks employed approximately 381,000 people worldwide" (10-K). Address and exchange: SEC's company file.
Email alerts
Sources
The 10-K filed Nov 14, 2025 (open at SEC), compared with the 10-K filed Nov 20, 2024. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.
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