Starbucks Corporation (SBUX)
Fixed asset turnover
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 35,975,600 | 32,250,300 | 29,060,600 | 23,518,000 | 26,508,600 |
| Property, plant and equipment | US$ in thousands | 7,387,100 | 6,560,500 | 6,369,500 | 6,241,400 | 6,431,700 |
| Fixed asset turnover | 4.87 | 4.92 | 4.56 | 3.77 | 4.12 |
September 30, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $35,975,600K ÷ $7,387,100K
= 4.87
Starbucks Corporation's fixed asset turnover has shown a fluctuating trend over the past five years. In the current fiscal year ending September 30, 2023, the fixed asset turnover stands at 4.87, slightly lower than the previous year's ratio of 4.92. This indicates that for every dollar invested in fixed assets, Starbucks generated approximately $4.87 in net sales.
The company's fixed asset turnover has generally been strong, reflecting efficient utilization of its fixed assets to generate revenue. The gradual increase in this ratio from 2019 to 2022 suggests improved efficiency in utilizing fixed assets to drive sales growth. However, the slight decrease in 2023 compared to the previous year may indicate a minor decrease in asset productivity.
Overall, Starbucks has been effectively managing its fixed assets to generate revenue, and investors should continue to monitor future changes in this ratio to assess the company's operational efficiency and asset utilization.
Peer comparison
Sep 30, 2023