How does Starbucks (SBUX) make money?

Starbucks (SBUX) primarily makes money through Beverage Member, which accounts for 60.5% of total revenue. For TTM through Q4 2025, Starbucks generated $37.70B in total revenue with a net profit margin of 3.6%.

What is Starbucks (SBUX) gross profit margin?

Starbucks (SBUX) reported a gross profit margin of 20.6% for TTM through Q4 2025, equivalent to $7.76B in gross profit. This means Starbucks retains 20.6% of each revenue unit after direct costs of production.

What is Starbucks (SBUX) operating profit margin?

Starbucks (SBUX) reported an operating profit margin of 9% for TTM through Q4 2025, equivalent to $3.39B in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.

What is Starbucks (SBUX) net profit margin?

Starbucks (SBUX) reported a net profit margin of 3.6% for TTM through Q4 2025, equivalent to $1.37B in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.

How much does Starbucks (SBUX) spend on capital expenditures?

Starbucks (SBUX) spent $1.94B on capital expenditures in TTM through Q4 2025 (5.1% of total revenue). Capital expenditures represent investments in physical assets such as property, equipment, and infrastructure.

What is Starbucks (SBUX) free cash flow?

Starbucks (SBUX) generated $2.34B in free cash flow for TTM through Q4 2025 (6.2% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.

What is Starbucks (SBUX) effective tax rate?

Starbucks (SBUX) had an effective tax rate of 53.1% for TTM through Q4 2025. This is the actual percentage of pre-tax income paid as income taxes.

How Starbucks (SBUX) Makes Money: A Visual Guide

Starbucks (SBUX) generated $37.70B in revenue, earning $1.37B in net profit (3.6% margin). Its largest revenue source is Beverage Member (60.5% of revenue). Below is an interactive breakdown of how revenue flows through the income statement.

Starbucks (SBUX) Income Statement Flow — TTM through Q4 2025

Calculated from the four most recent reported quarters, ending December 28, 2025 (reported January 28, 2026).

Frequently asked questions

How does Starbucks (SBUX) make money?: Starbucks (SBUX) primarily makes money through Beverage Member, which accounts for 60.5% of total revenue. For TTM through Q4 2025, Starbucks generated $37.70B in total revenue with a net profit margin of 3.6%.
What is Starbucks (SBUX) gross profit margin?: Starbucks (SBUX) reported a gross profit margin of 20.6% for TTM through Q4 2025, equivalent to $7.76B in gross profit. This means Starbucks retains 20.6% of each revenue unit after direct costs of production.
What is Starbucks (SBUX) operating profit margin?: Starbucks (SBUX) reported an operating profit margin of 9% for TTM through Q4 2025, equivalent to $3.39B in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.
What is Starbucks (SBUX) net profit margin?: Starbucks (SBUX) reported a net profit margin of 3.6% for TTM through Q4 2025, equivalent to $1.37B in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.
How much does Starbucks (SBUX) spend on capital expenditures?: Starbucks (SBUX) spent $1.94B on capital expenditures in TTM through Q4 2025 (5.1% of total revenue). Capital expenditures represent investments in physical assets such as property, equipment, and infrastructure.
What is Starbucks (SBUX) free cash flow?: Starbucks (SBUX) generated $2.34B in free cash flow for TTM through Q4 2025 (6.2% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.
What is Starbucks (SBUX) effective tax rate?: Starbucks (SBUX) had an effective tax rate of 53.1% for TTM through Q4 2025. This is the actual percentage of pre-tax income paid as income taxes.

Data & methodology

What is a Sankey diagram?: A Sankey diagram shows how money flows through a company from revenue to net profit. The width of each flow represents its proportion.
How is the data calculated?: We use the income statement from company filings. For TTM (Trailing Twelve Months), we use a pre-aggregated twelve-month view aligned with our latest four quarterly periods. Revenue flows to cost of revenue and gross profit, then to operating expenses (R&D, S&M, G&A) and operating profit.
When was this data last updated?: Based on company filings through TTM through Q4 2025.