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 1,22,927 - -
Change - -24.12% 4.38% 5.76% -14.08% 29.68% - -
Enterprise Value (EV) 1 1,39,715 1,12,176 1,16,171 1,22,611 1,07,644 1,41,795 1,41,480 1,42,300
Change - -19.71% 3.56% 5.54% -12.21% 31.73% -0.22% 0.58%
P/E 31.6x 30.8x 25.4x 29.4x 51.2x 47.2x 34.6x 29x
PBR -24.8x -11.5x -13x -14.8x -11.7x -16.3x -16.8x -19x
PEG - -1.5x 1x -3.9x -1x 1.2x 1x 1.5x
Capitalization / Revenue 4.53x 3.1x 2.9x 3.05x 2.55x 3.24x 3.18x 3.03x
EV / Revenue 4.81x 3.48x 3.23x 3.39x 2.89x 3.73x 3.66x 3.5x
EV / EBITDA 21.5x 18.3x 16.2x 17.7x 20x 24.3x 21.3x 19x
EV / EBIT 26.6x 23.1x 20x 22.7x 29.2x 33x 27.8x 23.9x
EV / FCF 30.9x 43.9x 31.6x 37x 44.1x 44x 36.1x 34.7x
FCF Yield 3.23% 2.28% 3.16% 2.71% 2.27% 2.27% 2.77% 2.88%
Dividend per Share 2 2.29 2 2.16 2.32 2.45 2.516 2.61 2.69
Rate of return 2.05% 2.3% 2.37% 2.38% 2.94% 2.33% 2.42% 2.49%
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% 72.3%
Net sales 1 29,061 32,250 35,976 36,176 37,184 37,988 38,639 40,632
EBITDA 1 6,501 6,136 7,164 6,921 5,376 5,835 6,643 7,497
EBIT 1 5,262 4,855 5,801 5,409 3,692 4,296 5,091 5,950
Net income 1 4,199 3,282 4,124 3,761 1,856 2,666 3,536 4,189
Net Debt 1 7,998 12,226 11,848 12,282 12,855 18,868 18,553 19,373
Reference price 2 111.71 87.11 91.08 97.36 83.39 107.85 107.85 107.85
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.($)
47.17x3.73x24.3x2.33% 12TCr
23.16x1.18x11.56x2.41% 5.21TCr
19.15x1.94x11.71x3.01% 2.45TCr
34.4x1.44x12.05x0.7% 1.17TCr
14.01x1.75x8.8x2.34% 1.02TCr
33.04x0.49x9.21x2.83% 987.56Cr
13.81x1.13x6.91x6.54% 864.52Cr
41.63x2.94x16.19x0.34% 850.98Cr
122.6x4.98x39.27x-.--% 781.9Cr
16.87x3.09x12.19x2.72% 806.86Cr
Average 36.58x 2.27x 15.22x 2.32% 2.64TCr
Weighted average by Cap. 37.50x 2.67x 18.16x 2.37%

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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