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Starbucks Corporation (SBUX)

Valor Justo
Consumer CyclicalRestaurantsUnited States

Fundamental

65

Precio

$94.88

Capitalización Bursátil

$106.76B

Parte 1 · Cuánto vale la empresa

Resumen

Starbucks operates and licenses coffeehouses that sell brewed coffee, espresso drinks, tea, food and branded merchandise, mostly for consumption on the spot or on the go. Company-operated stores generate the bulk of revenue directly; a separate network of licensed stores, run by other operators under the Starbucks name, pays royalties and fees instead. A third, smaller business sells Starbucks-branded coffee and ready-to-drink beverages through grocery stores under long-term arrangements with other companies.

Cómo genera ingresos

Most revenue is the retail price customers pay in company-operated stores for drinks and food, net of the cost of coffee, milk, labor and rent that goes into each cup. Licensed stores instead generate a smaller royalty and product-supply fee per transaction, since the licensee — not Starbucks — collects the retail price and pays store-level costs. The grocery channel earns a share of sales made under the Starbucks brand by manufacturing partners.

Ingresos por segmento

North America73.6%

Company-operated and licensed stores across the United States and Canada, still Starbucks' core and largest business by far.

International21%

Company-operated and licensed stores outside North America, including China, historically Starbucks' fastest-growing region though recently under pressure.

Channel Development5%

Royalties and product sales from Starbucks-branded coffee and ready-to-drink beverages sold through grocery stores by manufacturing partners.

Ventaja competitiva

Marca · Amplia

The Starbucks name lets the company charge a premium for coffee that costs little to make, built on decades of consistent store experience and marketing. That brand recognition supports both the roughly 40,000-store retail network and the licensing fees collected from grocery products bearing the Starbucks name.

Qué impulsa la demanda

Moderadamente cíclico

A daily coffee habit makes demand fairly resilient, but the price of a specialty drink is still discretionary spending that shrinks when household budgets tighten, and comparable-store sales have recently declined in Starbucks' largest market. Demand also depends on execution in China, a market undergoing its own economic slowdown.

Riesgos clave

  • Labor relations and unionization — Starbucks faces ongoing unionization efforts and labor disputes among its store employees, including strikes over pay, staffing and working conditions, which can disrupt operations and raise labor costs.
  • Declining US comparable sales — Comparable store sales in the United States, Starbucks' largest market, have recently declined, reflecting weaker customer traffic that management is trying to reverse through a turnaround plan.
  • China execution and joint venture — Starbucks is restructuring its China business through a joint venture with an outside investor, a market facing its own economic slowdown and intense local competition on price.
  • Commodity cost volatility — The price of coffee beans, dairy and other ingredients is volatile and outside Starbucks' control, and the company may not always be able to pass higher costs on to customers through price increases.

Los argumentos a favor

Buyers argue that the Starbucks brand still commands loyalty and pricing power strong enough to fund a turnaround of its underperforming US stores, while the China joint venture reduces capital risk in a market that still offers long-term growth.

Los argumentos en contra

Sellers worry that declining US comparable sales reflect a weakening brand rather than a temporary stumble, that labor disputes raise costs at a time management is trying to cut them, and that competition and a slowing economy in China limit the international growth story investors have relied on.

Written by the editors, published on 18 de agosto de 2026

Direct competitors

Who this company fights with for the same customers

No editorial profile for this company yet

No competitor list for this company yet.

Balance y Liquidez

Ingresos

$38.34B

Últimos 12 meses (hasta 28/6/2026)

Beneficio Neto

$1.98B

Últimos 12 meses (hasta 28/6/2026)

Flujo de Caja Libre

$2.44B

Patrimonio Neto Total

$-8.10B

Pasivo Total

$40.11B

Ratio de Liquidez

0.76

Cobertura de Intereses

5.35

Deuda/EBITDA

4.77

Beneficio Por Acción

Ingresos y Beneficio Neto

Flujo de Caja Libre

Desglose de Ingresos

Estado histórico

Márgenes en el tiempo

La deuda en el tiempo

Cuánto pesa la deuda

Cuadro de crecimiento

Crecimiento — Ingresos

Estimación de Valor Justo

Caso generalValoración Justa

Valor Justo

$117.25

Precio Actual

$94.88

Margen de Seguridad

+19.1%

Rango de Valor Justo

$76.21 - $158.29

Dispersión entre los métodos de valoración utilizados, no un intervalo de confianza calibrado estadísticamente.

Métodos de Estimación

Precio objetivo de los analistas:$112.23
Flujo de caja descontado (DCF):$238.66
Múltiplo sobre beneficios (P/E):$52.50
Fórmula de crecimiento de Graham:$60.74
Valor de la capacidad de generar beneficios (EPV):$23.86
P/B justificado:$10.16
Descuento de dividendos (Gordon):Datos insuficientes para calcularlo
P/FFO, fondos de operaciones:$50.92
Beneficios de mitad de ciclo:$68.12
Múltiplo sobre ingresos:$57.57
Consenso de Analistas:Comprar (22B / 20H / 4S)
Última Sorpresa de Resultados:+26.06%

Métricas de Valoración

Ratio P/E

54.84

ROE

-22.9%

Ratio P/B

-

P/FCF

29.70

Margen Bruto

-

ROIC

12.8%

Radar de Rentabilidad

Creación de Valor (Ventaja Competitiva)

ROIC

12.8%

WACC

8.7%

ROIC − WACC

+4.1 pp

El ROIC supera el coste del capital: la empresa está creando valor para los accionistas.

Criterios de Análisis Fundamental

Superado (17)

  • EPS shows upward trend
  • Price CAGR 5.42%
  • ROIC 12.8%
  • P/FCF 29.70
  • Operating Margin 7.8%
  • Positive Free Cash Flow
  • Current Ratio
  • Interest Coverage
  • Debt/EBITDA
  • Return on Tangible Assets
  • Low reliance on intangibles
  • ROE 115.7%
  • Revenue Growth 5Y 9.6%
  • Earnings Surprise avg 6.1%
  • Earnings Quality (OCF/NI) 2.51
  • Share Dilution 0.2%
  • Piotroski F-Score 5/9

Fallido (6)

  • EPS CAGR 3.55%
  • CapEx intensity
  • DCF valuation (Overvalued)
  • Analyst Consensus 48% Buy
  • PEG Ratio 3.40
  • Net Margin Trend 5.2% vs 7.2%

No disponible (5)

  • Gross Margin NaN%
  • P/B Ratio NaN
  • Dividend Payout NaN%
  • Debt/Equity ratio
  • Price below Graham Number

Piotroski F-Score

5/9

Señales mixtas: algunas áreas requieren atención

score
criteria

Calidad de los Beneficios

2.51

Alta calidad: beneficios respaldados por efectivo

Dilución de Acciones

0.2%

El número de acciones es estable

Participaciones institucionales

Gobernanza

Equipo Directivo

NombreCargoEdad
Mr. Brian R. NiccolChairman & CEO51
Ms. Catherine R. Smith CPAExecutive VP & CFO61
Mr. Mike GramsEVP & COO54
Mr. Bao Giang Val BauduinPrincipal Accounting Officer and Senior VP of Corporate Finance & Development49
Mr. Brady BrewerChief Executive Officer of Starbucks International52
Ms. Sara KellyExecutive VP & Chief Partner Officer45
Mr. Anand VaradarajanEVP & CTO-
Ms. Pilar RamosExecutive VP & Chief Legal Officer52
Mr. Andy AdamsSenior Vice President of Global Growth & Concepts-
Ms. Janet LandersSenior Vice President of Business Technology-

Riesgo de Auditoría

8

Riesgo del Consejo

5

Riesgo de Compensación

9

Riesgo de Derechos del Accionista

2

Parte 2 · El precio y el momento de entrar

Esta parte no sirve para saber si la empresa vale: sirve para elegir cuándo comprarla, una vez que los fundamentales te han convencido. Dentro: análisis técnico, potencial, caídas históricas, exposición gamma.

Documentos

  • Informe anual (10-K)

    Un resumen anual del negocio, los resultados financieros y los riesgos de la empresa.

    Presentado el 2025-11-14

    Ver documento
  • Informe trimestral (10-Q)

    Una actualización del desempeño financiero de los últimos tres meses.

    Presentado el 2026-07-29

    Ver documento
  • Informe de hecho relevante (8-K)

    Un aviso sobre un hecho relevante, como un cambio de dirección o un anuncio importante.

    Presentado el 2026-09-24

    Ver documento

via SEC EDGAR

Historial de Resultados

via SEC EDGAR

Latest News

Recent headlines for SBUX, sourced from Markets Gazette.

  • 8d agoNEGATIVE
    Starbucks prevede di chiudere l'1% dei punti vendita in Nord America

    Starbucks Corporation announced plans to close approximately 1% of its North American stores, marking the final phase of its restructuring and relaunch initiative. This move, initiated under CEO Brian's leadership, is part of a broader strategy to optimize store performance and adapt to evolving consumer behaviors. While store closures can indicate challenges, investors will watch for signs that this rationalization will lead to improved profitability and a more focused operational footprint, potentially enhancing long-term shareholder value despite short-term disruption.

  • 8/20/2026NEGATIVE
    Starbucks taglia oltre 100 posti di lavoro e completa la ristrutturazione

    Starbucks has eliminated 104 positions as part of a restructuring plan aimed at supporting growth. The layoffs reportedly affected employees who refused a transfer. This move signals a significant internal reorganization and cost-cutting effort by the coffee giant. Investors may view these layoffs as a sign of underlying business challenges or a strategic pivot to improve efficiency and profitability, potentially impacting short-term morale but aiming for long-term financial health.

  • 8/18/2026NEUTRAL
    Nasdaq-100® Inside the Index: Starbucks (SBUX)

    Starbucks Corporation (SBUX), a prominent component of the Nasdaq-100 Index, is undergoing a strategic turnaround. The company-operated store model is reportedly contributing to renewed sales and profit growth. This analysis focuses on the company's internal efforts to revitalize performance, suggesting a potential positive trajectory for the coffeehouse giant. Investors will monitor the effectiveness of these turnaround initiatives in translating into sustained financial gains and market share expansion.

  • 6/19/2026NEGATIVE
    Starbucks Cuts UK, Hong Kong Office Jobs in Restructuring Effort

    Starbucks has initiated layoffs affecting corporate employees in its London and Hong Kong offices as part of a broader restructuring strategy. This move signals a shift towards granting more operational control to third-party licensees for its international store management outside of North America. While the direct impact on store-level operations is not immediately clear, such corporate workforce reductions can be interpreted as a cost-saving measure or a response to evolving business strategies, potentially raising concerns among investors about the company's near-term operational stability and international growth trajectory.

  • 5/15/2026NEUTRAL
    Starbucks Stock Holds Steady As Investors Digest Extensive Corporate Restructuring Plan

    Starbucks Corporation's stock is trading flat as investors analyze a recently filed Form 8-K detailing a significant corporate restructuring plan. While the specifics of the restructuring are still being absorbed by the market, the lack of immediate price movement suggests a neutral short-term reaction. Investors are likely weighing the potential long-term benefits of the restructuring against any immediate costs or uncertainties. Further analysis of the plan's details will be crucial for determining the future impact on the company's performance and stock valuation.

  • 4/29/2026POSITIVE
    Starbucks is winning customers back after investing $500 million in workers and stores

    Starbucks is reportedly regaining customer loyalty following a substantial $500 million investment in its workforce and store infrastructure. The company's strategy focused on increasing barista staffing, optimizing work schedules, and enhancing employee benefits appears to be yielding positive results. This initiative aims to improve customer experience and operational efficiency, potentially leading to increased sales and market share. Investors may view this as a strategic move that strengthens Starbucks' competitive position and long-term growth prospects.

  • 4/29/2026NEUTRAL
    Starbucks CEO on Earnings, Sales Growth, Speedy Service

    Starbucks CEO Brian Niccol discussed the company's recent earnings report, focusing on enhancements to the mobile order experience and the introduction of new menu items. The conversation also touched upon efforts to improve drink consistency. While these initiatives aim to boost customer satisfaction and potentially sales, the news itself is an overview of ongoing strategies rather than a definitive performance indicator. Investors will await concrete sales figures and profit margins to assess the impact of these operational improvements.

  • 4/28/2026POSITIVE
    Starbucks is seeing a resurgence, thanks to younger and lower-income customers

    Starbucks Corporation has announced a significant hike in its outlook, driven by a resurgence in sales that have surpassed Wall Street expectations. The coffee giant is experiencing increased patronage from younger demographics and lower-income customers, a trend that has boosted same-store sales. This strategic shift in customer base is expected to translate into higher revenue and profitability. For investors, this indicates a successful adaptation to evolving consumer preferences and a potential for sustained growth, possibly leading to upward revisions in earnings forecasts and stock price targets.

via Markets Gazette