Starbucks Corporation (SBUX)

Gross profit margin

Sep 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019
Gross profit (ttm) US$ in thousands 22,714,400 23,349,700 23,527,000 22,908,700 22,109,100 21,389,700 20,579,000 20,150,000 20,191,500 19,758,700 19,144,000 18,221,400 19,461,700 16,490,300 15,577,200 15,413,600 15,957,500 17,205,500 16,796,900 15,761,800
Revenue (ttm) US$ in thousands 36,176,200 36,530,200 36,687,000 35,975,600 35,016,200 33,998,000 32,913,800 32,250,300 31,982,800 31,329,200 30,361,600 29,060,600 27,117,000 23,842,600 23,170,300 23,518,000 24,061,900 26,662,800 26,973,000 26,508,600
Gross profit margin 62.79% 63.92% 64.13% 63.68% 63.14% 62.91% 62.52% 62.48% 63.13% 63.07% 63.05% 62.70% 71.77% 69.16% 67.23% 65.54% 66.32% 64.53% 62.27% 59.46%

September 30, 2024 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $22,714,400K ÷ $36,176,200K
= 62.79%

Over the past few years, Starbucks Corporation's gross profit margin has shown relatively stable performance, ranging from a low of 59.46% in December 2019 to a high of 71.77% in September 2021. In the most recent period ending September 30, 2024, the gross profit margin was 62.79%. This indicates that for every dollar of revenue generated, Starbucks retains approximately 62.79 cents after accounting for the cost of goods sold.

The general trend shows that Starbucks has maintained gross profit margins above 60% consistently, reflecting the company's ability to effectively manage its production costs and pricing strategies. However, there was a significant spike in the gross profit margin in the first quarter of 2023, reaching 71.77%, which could be attributed to various factors such as favorable product mix, cost efficiencies, or pricing adjustments during that period.

Overall, the gross profit margin trend suggests that Starbucks has been able to maintain healthy profitability levels in its operations, indicating efficiency in managing the costs associated with producing and selling its products. Investors and stakeholders typically view a stable and healthy gross profit margin positively as it indicates the company's ability to generate profits from its core business activities.


Peer comparison

Sep 30, 2024

Company name
Symbol
Gross profit margin
Starbucks Corporation
SBUX
62.79%
Shake Shack Inc
SHAK
48.84%
The Wendy’s Co
WEN
42.85%

See also:

Starbucks Corporation Gross Profit Margin (Quarterly Data)