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Starbucks (SBUX) Financial Analysis
Table of contents
1 Executive Summary 2
2 Introduction .6
2.1 Brief history of Starbucks 6
2.2 The current state of the industry 8
2.3 The position of Starbucks in the industry 12
3 Financial Ratio Analysis 14
3.1 Short-term Financial Stability 14
3.2 Long-term Financial Stability..17
3.3 Operational Efficiency 21
3.4 Profitability 27
3.5 Market value (PER / PBR) 29
4 Strength and Weakness of Starbucks 32
5 Recommendations 34
References 36
Appendix 37
1 Executive Summary
Starbucks Corporation has unarguably been the most successful coffee chain in the past few decades, using their aggressive expansion strategies to push out much of its competitor, and seizing the number one position in its industry. Yet, in the recent few years, the market has shown Starbucks to be in constant decline, as their stock has dropped about $15/share, a value they have been above since 2…(생략)
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as Starbucks’ position in its industry. It talks about the once largest and strongest coffee chain is now going through a tough time, losing its dominant position while their competitors succeed in taking over their place in the specialty eatery industry. These facts enabled us to proceed the financial analysis of the company. We have calculated the ratios it based on its balance sheet and income statement (at the end of September which is Starbucks’ fiscal year) which we were able to obtain from ‘yahoo finance’. We have selected year 2008 as our current year because the data for 2009 was only provided quarterly and thus we could not get an accurate numbers.
There are mainly 5 parts in financial ratio. First one is the liquidity ratio. These are the ratios which indicate the company’s ability to meet its short-term obligation. As you will see in the latter part of this report, all of the liquidity ratios of Starbucks corporation is showing a steady decline and indicates a ratio lowe
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