Starbucks (SBUX) 10-K Summary — Year Ended Oct 1, 2023
Starbucks Corporation operates as a roaster, marketer, and retailer of specialty coffee. The filing reports growth in revenue and profitability for the most recent annual period.
Key takeaway
Year ended Oct 1, 2023 · FY2025 10-K
Starbucks Corporation operates as a roaster, marketer, and retailer of specialty coffee. The filing reports growth in revenue and profitability for the most recent annual period.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$36B
Revenue reported for the fiscal year.
Operating income
$5.9B
Income from operations reported for the year.
Net income
$4.1B
Net income reported for the year.
Operating cash flow
$6B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Oct 3, 2021 | $29.1B | n/a |
| Oct 2, 2022 | $32.3B | +11.0% |
| Oct 1, 2023 | $36B | +11.6% |
Business overview
Starbucks is a global specialty coffee company that sources, roasts, and sells coffee and related products through company-operated and licensed stores. The company also offers packaged coffee and ready-to-drink beverages through various channels. Its business model focuses on the Starbucks brand and customer experience.
Financial performance
Revenue increased compared to the prior year, and operating income and net income also rose. Operating cash flow was positive and supported the company's financial activities.
Material risks
The filing identifies risks including global economic conditions, competition, and supply chain disruptions. Changes in consumer preferences and foreign currency fluctuations are also noted as material factors. The company faces potential impacts from regulatory changes and cybersecurity threats.
Liquidity and capital
The company manages cash and investments to fund operations, debt payments, acquisitions, and shareholder returns through dividends and share repurchases. A revolving credit facility is available for working capital and other corporate purposes.
What to watch
Monitor changes in the company's revenue growth trajectory and operating margin trends in the next filing.