SBUXStarbucks Corporation
Is the business good?
The checks split: earnings fully cash-backed (2.6×), but margins compressing.
Operating profit is fully backed by cash. Conversion is improving vs a year ago.
Operating profit is falling even as sales grow, costs are outrunning the top line.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is SBUX?
Starbucks Corporation keeps 7.8% of every revenue dollar as operating profit, against 7.8% for the median Restaurants name.
Operating margin · Restaurants median 7.8% · 12 months to Q3 2026
- Cash conversion
- 2.60×
Cash conversion · 1.66× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- +0.35%
Share count, year on year · flat: no meaningful dilution
| Year | Operating margin |
|---|---|
| FY2020 | 6.6% |
| FY2021 | 17% |
| FY2022 | 14% |
| FY2023 | 16% |
| FY2024 | 15% |
| FY2025 | 7.9% |
Details›
- Operating margin12 months to Q3 2026
- 7.8%
- Net margin12 months to Q3 2026
- 5.2%
- Free cash flow margin
- 9.5%
- Revenue, trailing twelve months
- $38.3B
- Free cash flow, trailing twelve months
- $3.64B
- Net income, trailing twelve months
- $1.98B
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.