STARBUCKS CORP（SBUX）の決算・業績分析
STARBUCKS CORPの2025年有価証券報告書をAI分析。売上高$37.2B(+2.8%)。営業利益$2.9B。Consumer Discretionary。
目次
STARBUCKS CORPの2025年度 業績サマリー
STARBUCKS CORP（証券コード: SBUX）の2025年度決算・業績分析。売上高は$37.2B（前年比+2.8%）。営業利益は$2.9B（前年比-45.7%）。純利益は$1.9B（前年比-50.6%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
STARBUCKS CORPの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue grew 11.0% YoY to $32.3B (XBRL), but net income fell 21.9% YoY to $3.3B (XBRL).
- Operating income declined 5.2% YoY to $4.6B (XBRL), despite a 19.1% EBITDA margin (XBRL).
- Negative equity ratio of -27.1% (XBRL) and debt-to-equity ratio of -4.68x (XBRL) highlight significant leverage risks.
- Current ratio of 0.78x (XBRL) indicates potential liquidity challenges, while $4.0B in share repurchases (XBRL) reflects aggressive shareholder returns.
STARBUCKS CORPの売上高変化の要因
- •Revenue increased to $32.3B (XBRL), reflecting a 7.8% CAGR over five years (XBRL). However, net income declined 21.9% YoY to $3.3B (XBRL), with a 5-year CAGR of -1.8% (XBRL). The Global Coffee Alliance with Nestlé drives grocery and foodservice revenue, while licensed stores contribute additional sales. Operating income fell 5.2% YoY to $4.6B (XBRL), suggesting rising costs or margin compression.
STARBUCKS CORPの営業利益変化の要因
- •Operating margin remained stable at 14.3% (XBRL), but operating income declined 5.2% YoY (XBRL). Net margin fell to 10.2% (XBRL), down from prior years. EBITDA of $6.1B (XBRL) reflects 19.1% margin (XBRL), though ROE is negative at -41.0% (XBRL) due to declining equity. ROA of 11.1% (XBRL) and ROIC of 10.8% (XBRL) indicate mixed asset efficiency.
STARBUCKS CORPの事業リスクと対応
Brand relevance and execution risks: Failure to maintain brand value could harm financial results (10-K).
Strategic initiative implementation risks: Ineffective growth management may impact business performance (10-K).
Supply chain risks: Coffee bean cost/availability fluctuations could disrupt operations (10-K).
Macroeconomic risks: Economic conditions may adversely affect financial performance (10-K).
Competitive risks: Intense competition could reduce profitability (10-K).
Regulatory and data privacy risks: Non-compliance with laws and unauthorized access to customer data pose liabilities (10-K).
STARBUCKS CORPの今後の見通し・業績予想
STARBUCKS CORPの事業内容
Starbucks operates as a global roaster, marketer, and retailer of specialty coffee, with revenue generated through company-operated stores, licensed stores, and grocery/foodservice channels via its Global Coffee Alliance with Nestlé (10-K). Key products include Starbucks Coffee®, Teavana®, Ethos®, and Starbucks Reserve® (10-K). Competitive advantages include brand recognition, global store expansion, digital platform innovation, and ethical sourcing via C.A.F.E. Practices (10-K). The company serves consumers in both developed and high-growth markets, with no significant customer concentration reported (10-K).
STARBUCKS CORPのAI業績分析レポート（2024年度）
Starbucks Corp (SBUX) FY2024 Annual Report Analysis
Highlights
Business Overview
Starbucks operates as a global roaster, marketer, and retailer of specialty coffee, with revenue generated through company-operated stores, licensed stores, and grocery/foodservice channels via its Global Coffee Alliance with Nestlé (10-K). Key products include Starbucks Coffee®, Teavana®, Ethos®, and Starbucks Reserve® (10-K). Competitive advantages include brand recognition, global store expansion, digital platform innovation, and ethical sourcing via C.A.F.E. Practices (10-K). The company serves consumers in both developed and high-growth markets, with no significant customer concentration reported (10-K).
Revenue Analysis
Revenue increased to $32.3B (XBRL), reflecting a 7.8% CAGR over five years (XBRL). However, net income declined 21.9% YoY to $3.3B (XBRL), with a 5-year CAGR of -1.8% (XBRL). The Global Coffee Alliance with Nestlé drives grocery and foodservice revenue, while licensed stores contribute additional sales. Operating income fell 5.2% YoY to $4.6B (XBRL), suggesting rising costs or margin compression.
Profitability Analysis
Operating margin remained stable at 14.3% (XBRL), but operating income declined 5.2% YoY (XBRL). Net margin fell to 10.2% (XBRL), down from prior years. EBITDA of $6.1B (XBRL) reflects 19.1% margin (XBRL), though ROE is negative at -41.0% (XBRL) due to declining equity. ROA of 11.1% (XBRL) and ROIC of 10.8% (XBRL) indicate mixed asset efficiency.
Balance Sheet Analysis
Total equity fell to -$8.0B (XBRL) in FY2024, with an equity ratio of -27.1% (XBRL) and debt-to-equity ratio of -4.68x (XBRL). Total assets stood at $29.4B (XBRL), but liquidity is strained with a current ratio of 0.78x (XBRL). Long-term debt totaled $13.5B (XBRL), highlighting significant leverage.
Cash Flow Analysis
Operating cash flow of $4.4B (XBRL) supported $2.6B in free cash flow (FCF) after $1.8B in CapEx (XBRL). Financing activities consumed $5.6B (XBRL), driven by $2.3B in dividends (XBRL) and $4.0B in share repurchases (XBRL). Investing cash flow was -$2.1B (XBRL), reflecting capital expenditures.
Working Capital Analysis
Cash conversion cycle (CCC) was 16 days (XBRL), with receivables days at 13, inventory days at 20, and payables days at 18 (XBRL). Efficient working capital management is evident, though inventory days remain slightly elevated.
Risks
Outlook
Management guidance and forward-looking trends are not explicitly detailed in the provided data (10-K).
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 24.7B | 26.5B | 23.5B | 29.1B | 32.3B | 36.0B |
| Operating Income | 3.9B | 4.1B | 1.6B | 4.9B | 4.6B | 5.9B |
| Net Income | 4.5B | 3.6B | 928M | 4.2B | 3.3B | 4.1B |
| Total Assets | 24.2B | 19.2B | 29.4B | 28.0B | 29.4B | 31.3B |
| Total Equity | -6.2B | -7.8B | -5.3B | -8.7B | -8.0B | -7.4B |
| Operating Cash Flow | 11.9B | 5.0B | 1.6B | 6.0B | 4.4B | 6.0B |
Consumer Discretionaryの企業一覧
STARBUCKS CORPと同じ「Consumer Discretionary」セクターの企業