Starbucks Corporation
Starbucks Corp is a U.S.-based coffee company that roasts, markets, and sells specialty coffee and related beverages, food, and packaged products through company-operated and licensed coffeehouses. It also sells coffee and tea through grocery, foodservice, and other channels, and operates across a global network of markets.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueRetail coffeehouses selling beverages, food, and merchandise directly to consumers.
Franchised or licensed coffeehouses where partners operate stores under the Starbucks brand.
Packaged coffee, tea, ready-to-drink products, and other branded goods sold through retail and foodservice channels.
Alliance and third-party revenues including the Global Coffee Alliance and cocoa butter sales.
Products
Reported · share of revenue- Beverage60.6 %
- Other Products20.4 %
- Food19.0 %
Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.
Customers
Starbucks serves individual consumers who buy coffee, tea, cold beverages, and food in stores or through mobile ordering. It also sells branded products to grocery, convenience, warehouse club, and foodservice customers, and earns royalties and product sales from licensed operators. Loyalty members and mobile app users are an important customer group because they visit more often and use stored value and rewards features.
Individuals purchasing handcrafted beverages, food, and merchandise in company-operated stores for convenience and brand experience.
Registered Starbucks Card and Rewards members who use stored value, app ordering, and rewards to increase visit frequency.
Local and regional operators that buy product, equipment, and brand rights to run Starbucks-branded stores.
Retailers and foodservice accounts buying packaged coffee, tea, and ready-to-drink products for resale or service.
Strategy
Starbucks is focused on expanding its store base, improving the in-store experience, and strengthening digital and loyalty engagement to support long-term growth. The company is also balancing company-operated and licensed stores by market, while investing in product innovation, supply chain capabilities, and international partnerships such as China.
Store growth is a core driver of revenue and brand reach across mature and emerging markets.
Better service, convenience, and digital ordering support repeat visits and higher traffic.
The app, stored value, and rewards ecosystem deepen customer engagement and frequency.
China is a major growth market where local execution and scale matter for long-term brand growth.
Geography
Starbucks operates in 89 markets, with a large base of company-operated stores in North America and a substantial international licensed-store footprint. The company’s geography matters because store mix, consumer preferences, labor availability, and supply-chain conditions differ by market, while China is a strategically important growth region. Global operations also expose the business to currency, commodity, and weather-related disruptions across sourcing and retail markets.
Risks
Starbucks is exposed to brand, execution, and supply-chain risks because its business depends on customer traffic, product consistency, and a premium brand experience. Coffee, dairy, packaging, and logistics costs can be volatile, while weather, climate events, tariffs, and changing consumer preferences can disrupt demand and margins across its global footprint.
- Brand relevance and brand executionImpact: HighLikelihood: Medium
The business depends on the Starbucks brand to drive traffic, pricing, and loyalty across channels.
Exposure - Coffee and commodity price volatilityImpact: HighLikelihood: Medium
Coffee is central to the product mix and is subject to volatile global supply and pricing.
Exposure - Climate and weather disruptionImpact: HighLikelihood: Medium
Droughts, frosts, wildfires, and extreme weather can affect sourcing regions and store operations.
Exposure: Global sourcing network and international store base
- Supply-chain and tariff exposureImpact: HighLikelihood: Medium
Tariffs, logistics issues, and supplier disruptions can affect product availability and costs.
Exposure - Competitive pressureImpact: MediumLikelihood: Medium
The company competes with specialty coffee, quick-service restaurants, and ready-to-drink brands.
Exposure: Retail coffeehouses and Channel Development
Accounting
Judgemental itemsStore closures can trigger accelerated amortization of ROU assets and lease exit charges.
Impact: Affects operating expenses and restructuring-related charges
Underperforming or closed stores may require impairment of company-operated store assets.
Impact: Can create material non-cash charges in earnings
Brand and reporting-unit valuations depend on cash flow and discount-rate assumptions.
Impact: Could lead to large impairment charges if forecasts weaken
Company-operated store sales, royalties, product sales, and alliance revenue are recognized differently.
Impact: Affects segment mix and comparability across periods
Similar listed companies
Publicly listed companies with a comparable business focus.
PepsiCo, Inc
PEP · Beverages
PepsiCo is a U.S.-based consumer packaged goods company that sells beverages and convenient foods through a global portfolio of brands.
Uber Technologies, Inc
UBER · Services-Business Services, NEC
Farmer Brothers Co
FARM · Miscellaneous Food Preparations & Kindred Products
Farmer Brothers is a U.S.-based coffee and beverage company that roasts, wholesales, and distributes coffee, tea, and allied products under its own brands and private labels.
McDonald's Corporation
MCD · Retail-Eating Places
Salesforce, Inc.
CRM · Services-Prepackaged Software
Scholastic Corporation
SCHL · Books: Publishing or Publishing & Printing
Scholastic Corp is a U.S.-based children’s publishing and media company built around books, classroom reading programs, and educational materials.
Last updated: 24/09/2026