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 1,19,075 - -
Change - -24.12% 4.38% 5.76% -14.08% 25.62% - -
Enterprise Value (EV) 1 1,39,715 1,12,176 1,16,171 1,22,611 1,07,644 1,37,943 1,37,628 1,38,447
Change - -19.71% 3.56% 5.54% -12.21% 28.15% -0.23% 0.6%
P/E 31.6x 30.8x 25.4x 29.4x 51.2x 45.7x 33.5x 28.1x
PBR -24.8x -11.5x -13x -14.8x -11.7x -15.8x -16.3x -18.4x
PEG - -1.5x 1x -3.9x -1x 1.1x 0.9x 1.4x
Capitalization / Revenue 4.53x 3.1x 2.9x 3.05x 2.55x 3.13x 3.08x 2.93x
EV / Revenue 4.81x 3.48x 3.23x 3.39x 2.89x 3.63x 3.56x 3.41x
EV / EBITDA 21.5x 18.3x 16.2x 17.7x 20x 23.6x 20.7x 18.5x
EV / EBIT 26.6x 23.1x 20x 22.7x 29.2x 32.1x 27x 23.3x
EV / FCF 30.9x 43.9x 31.6x 37x 44.1x 42.8x 35.1x 33.7x
FCF Yield 3.23% 2.28% 3.16% 2.71% 2.27% 2.34% 2.85% 2.96%
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% 2.41% 2.5% 2.59%
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 37,988 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 2,667 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 83.39 104.47 104.47 104.47
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
46.29x3.67x23.9x2.38% 12TCr
23.32x1.18x11.63x2.39% 5.23TCr
19.37x1.96x11.83x2.97% 2.46TCr
33.26x1.45x12.14x0.71% 1.2TCr
13.29x1.64x8.03x2.09% 998.28Cr
33.1x0.49x9.22x2.82% 983.86Cr
41.1x2.91x15.99x0.35% 877Cr
12.89x1.05x6.39x6.99% 822.46Cr
16.01x2.8x11.02x2.93% 758.23Cr
112.95x4.57x36.04x-.--% 709.71Cr
Average 35.16x 2.17x 14.62x 2.36% 2.59TCr
Weighted average by Cap. 36.44x 2.60x 17.71x 2.39%

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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