Company Valuation: Starbucks Corporation

Data adjusted to current consolidation scope
Fiscal Period: September 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 131,717 99,950 104,323 110,328 94,789 108,144 - -
Change - -24.12% 4.38% 5.76% -14.08% 14.09% - -
Enterprise Value (EV) 1 139,715 112,176 116,171 122,611 107,644 126,162 126,087 125,864
Change - -19.71% 3.56% 5.54% -12.21% 17.2% -0.06% -0.18%
P/E 31.6x 30.8x 25.4x 29.4x 51.2x 41.8x 30.3x 25.3x
PBR -24.8x -11.5x -13x -14.8x -11.7x -14.4x -14.8x -16.7x
PEG - -1.5x 1x -3.9x -1x 1.1x 0.8x 1.3x
Capitalization / Revenue 4.53x 3.1x 2.9x 3.05x 2.55x 2.85x 2.81x 2.67x
EV / Revenue 4.81x 3.48x 3.23x 3.39x 2.89x 3.32x 3.27x 3.11x
EV / EBITDA 21.5x 18.3x 16.2x 17.7x 20x 21.5x 19x 16.8x
EV / EBIT 26.6x 23.1x 20x 22.7x 29.2x 29.3x 24.8x 21.2x
EV / FCF 30.9x 43.9x 31.6x 37x 44.1x 38.7x 32.2x 30.7x
FCF Yield 3.23% 2.28% 3.16% 2.71% 2.27% 2.58% 3.11% 3.26%
Dividend per Share 2 2.29 2 2.16 2.32 2.45 2.516 2.61 2.708
Rate of return 2.05% 2.3% 2.37% 2.38% 2.94% 2.65% 2.75% 2.85%
EPS 2 3.54 2.83 3.58 3.31 1.63 2.27 3.13 3.747
Distribution rate 64.7% 70.7% 60.3% 70.1% 150% 111% 83.4% 72.3%
Net sales 1 29,061 32,250 35,976 36,176 37,184 37,993 38,547 40,484
EBITDA 1 6,501 6,136 7,164 6,921 5,376 5,856 6,648 7,480
EBIT 1 5,262 4,855 5,801 5,409 3,692 4,313 5,082 5,926
Net income 1 4,199 3,282 4,124 3,761 1,856 2,645 3,553 4,215
Net Debt 1 7,998 12,226 11,848 12,282 12,855 18,018 17,943 17,719
Reference price 2 111.71 87.11 91.08 97.36 83.39 94.88 94.88 94.88
Nbr of stocks (in thousands) 1,179,100 1,147,400 1,145,400 1,133,200 1,136,700 1,139,800 - -
Announcement Date 28/10/21 03/11/22 02/11/23 30/10/24 29/10/25 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
18.12x7.22x13.07x3.23% 164B
41.79x3.32x21.55x2.65% 108B
21.96x1.13x11.07x2.53% 49.62B
28.7x3.54x20.05x-.--% 40.9B
14.63x5.39x16.04x2.21% 37.3B
15.61x3.69x11.48x3.69% 24.33B
17.57x1.81x10.91x3.28% 22.41B
30.21x0.94x12.25x0.87% 14.39B
13.86x0.99x6.46x2.9% 13.94B
Average 22.49x 3.11x 13.65x 2.37% 52.79B
Weighted average by Cap. 24.63x 4.43x 15.22x 2.61%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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  5. Valuation Starbucks Corporation