Company Valuation: Starbucks Corporation

Data adjusted to current consolidation scope
Fiscal Period: September 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,31,717 99,950 1,04,323 1,10,328 94,789 1,08,121 - -
Change - -24.12% 4.38% 5.76% -14.08% 14.06% - -
Enterprise Value (EV) 1 1,39,715 1,12,176 1,16,171 1,22,611 1,07,644 1,28,663 1,28,254 1,27,494
Change - -19.71% 3.56% 5.54% -12.21% 19.53% -0.32% -0.59%
P/E 31.6x 30.8x 25.4x 29.4x 51.2x 41.5x 30.5x 25.5x
PBR -24.8x -11.5x -13x -14.8x -11.7x -14.4x -14.8x -16.7x
PEG - -1.5x 1x -3.9x -1x 1x 0.8x 1.3x
Capitalization / Revenue 4.53x 3.1x 2.9x 3.05x 2.55x 2.85x 2.8x 2.66x
EV / Revenue 4.81x 3.48x 3.23x 3.39x 2.89x 3.39x 3.32x 3.14x
EV / EBITDA 21.5x 18.3x 16.2x 17.7x 20x 22x 19.3x 17.1x
EV / EBIT 26.6x 23.1x 20x 22.7x 29.2x 29.9x 25.2x 21.5x
EV / FCF 30.9x 43.9x 31.6x 37x 44.1x 39.9x 32.7x 31.1x
FCF Yield 3.23% 2.28% 3.16% 2.71% 2.27% 2.51% 3.06% 3.22%
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 2.286 3.115 3.723
Distribution rate 64.7% 70.7% 60.3% 70.1% 150% 110% 83.8% 72.7%
Net sales 1 29,061 32,250 35,976 36,176 37,184 37,986 38,597 40,576
EBITDA 1 6,501 6,136 7,164 6,921 5,376 5,837 6,636 7,463
EBIT 1 5,262 4,855 5,801 5,409 3,692 4,298 5,083 5,926
Net income 1 4,199 3,282 4,124 3,761 1,856 2,667 3,536 4,189
Net Debt 1 7,998 12,226 11,848 12,282 12,855 20,541 20,133 19,373
Reference price 2 111.71 87.11 91.08 97.36 83.39 94.86 94.86 94.86
Nbr of stocks (in thousands) 11,79,100 11,47,400 11,45,400 11,33,200 11,36,700 11,39,800 - -
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.($)
41.49x3.39x22.04x2.65% 11TCr
22.27x1.14x11.17x2.51% 5.01TCr
17.76x1.83x11.02x3.24% 2.27TCr
29.2x1.32x11.11x0.8% 1.04TCr
33.55x0.48x9.07x2.88% 953.16Cr
12.02x1.44x7.08x2.52% 898.21Cr
34.29x2.42x13.44x0.43% 710.54Cr
13.57x2.38x9.37x3.4% 645.24Cr
10.26x0.82x5.04x8.77% 645.21Cr
Average 23.82x 1.69x 11.04x 3.02% 2.55TCr
Weighted average by Cap. 31.04x 2.32x 15.87x 2.72%

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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