Starbucks Corp.
SBUX - Insider Information
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+ FollowMarket Cap$125.56B
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Earnings Call Q4 2026
October 29, 2026 - AI Summary
Strong Q4 + full-year turnaround/growth momentum (what’s good):
- Q4 FY26: net revenues $9.1B (-3.9% YoY) mainly due to Starbucks China deconsolidation/licensing transition; but global comps +7.2% (5th straight positive quarter), U.S. comps +7.7%.
- Profitability improved meaningfully: consolidated operating margin ~14% (+450 bps YoY); Q4 EPS $0.80 (~+54% YoY).
- Full year FY26: net revenues $37.9B (+2.1%); consolidated operating margin ~11.9% (+200 bps); EPS $2.72 (~+27%), above the high end of guidance.
- Management attributes performance to “Back to Starbucks” fundamentals: better service consistency (Green Apron Service), stronger brand/menu, and more earnings flowing from sales growth.
Demand/brand drivers in North America (what’s good and specific):
- North America company-operated comps +7.9% (Q4) driven by double-digit Canada and strong U.S. results.
- Starbucks improved operational execution: “coffeehouses feel like Starbucks again”:
- >80% of NA company-operated stores delivered positive comps in Q4 (up from <50% prior year).
- Daily delivery availability ~90% of NA company-operated stores.
- 1,700+ uplifts completed in NA by fiscal year-end; uplifted stores show transaction lift across access points/dayparts/loyalty.
- Rewards/digital strength: 90-day active Starbucks Rewards members reached 36M (record); more members moving to higher tiers, contributing to transactions and sales growth.
- Menu/merch strength: noted performance in espresso, Refreshers, Matcha, and artisanal bake case; global merch activations (e.g., Peanuts, Unicorn launch) drove record weekend/sales days.
International and channel mix (what’s good, but also a headwind):
- Q4 International: net revenues $1.3B, operating income $261M, with positive system-wide comps.
- International company-operated comps +0.9% (UK strong; Japan tough comparisons).
- China transition to licensing/joint venture continues to affect reported YoY revenue comparability: China’s retail operations are deconsolidated, so YoY changes are driven by accounting/reporting structure, not necessarily demand collapse.
- Channel Development: net revenues $494M (-8.9% YoY) mainly from coffee price tailwinds missing (earlier year quarters) and consumer choicefulness; operating income roughly flat.
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$38.20
65.2% downside
Current Fair Value
65.2% downsideOvervalued by 65.2% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $125.56 Billion |
|---|---|
| Enterprise Value | $146.37 Billion |
| Annual dividend | $2.48 |
| Dividend yield | 2.39% |
| Earnings per Share | $2.21 |
| Beta | 0.98 |
| Outstanding Shares | 1,144,600,000 |
Return
| Return on Equity | -32.92% |
|---|---|
| Return on Assets | 8.93% |
| Return on Invested Capital | 23.69% |
Valuation & Multiples
| P/E Ratio | 46.91 |
|---|---|
| PEG | 11.48 |
| Price to Sales | 3.32 |
| Price to Book Ratio | -15.67 |
| Enterprise Value to Revenue | 3.86 |
| Enterprise Value to EBIT | 33.61 |
| Enterprise Value to Net Income | 57 |
| Total Debt to Enterprise | 0.17 |
| Debt to Equity | -3.16 |
Revenue Sources
No data
Last Earnings Call
Report Date
November 4, 2026
EPS Estimate
$0.68
Consensus analyst estimateRevenue Estimate
$9.22 B
Consensus analyst estimateNext Earnings Call
Expected Date
January 27, 2027
EPS Estimate
$0.75
Consensus analyst estimateRevenue Estimate
$9.36 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 74.61% |
|---|---|
| Total Calls | 60,000▼ 99.78% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 3.09%▼ 83.27% |
|---|---|
| Total Invested | $3.30B▼ 96.71% |
| Investors Holding | 995▼ 1518.00% |
About Starbucks Corp.
346,000 employees
CEO: Kevin Johnson
Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with nearly 33,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in th...