Starbucks Corporation (SBUX)
Pretax margin
| 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 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 5,645,900 | 5,401,800 | 4,909,600 | 4,636,900 | 4,302,900 | 4,230,100 | 5,376,600 | 5,595,700 | 5,610,000 | 5,356,100 | 3,551,000 | 1,328,200 | 832,100 | 1,168,000 | 1,730,100 | 4,218,900 | 4,649,500 | 4,471,000 | 4,397,900 | 3,748,700 |
| Revenue (ttm) | US$ in thousands | 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 | 26,065,200 | 25,552,500 |
| Pretax margin | 15.39% | 15.02% | 14.02% | 13.64% | 13.07% | 13.12% | 16.81% | 17.86% | 18.48% | 18.43% | 13.10% | 5.57% | 3.59% | 4.97% | 7.19% | 15.82% | 17.24% | 16.87% | 16.87% | 14.67% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $5,645,900K ÷ $36,687,000K
= 15.39%
To analyze Starbucks Corp.'s pretax margin, we can observe the trend in the pretax margin ratio over the past eight quarters. The pretax margin measures the company's profitability before taxes as a percentage of its total revenue.
From the data provided, we can see that the pretax margin has fluctuated over the past two years, with a peak of 17.87% in the second quarter of 2022 and a low of 13.08% in the first quarter of 2023. This indicates some variability in the company's ability to generate profits before taxes relative to its revenue during this period.
Overall, while the pretax margin has shown some fluctuations, it has generally remained above 13%, indicating that Starbucks Corp. has been able to maintain a healthy level of profitability before taxes. However, it would be beneficial to further analyze the reasons behind the fluctuations in the pretax margin to understand the factors influencing the company's profitability over the quarters.
Peer comparison
Dec 31, 2023