Filing Flows › Starbucks (SBUX) › Q3 FY26 › vs Q2 FY26
Starbucks (SBUX) Q3 FY26 vs Q2 FY26 (quarter over quarter)
Starbucks's revenue fell $209M (-2%) from $9.5B in Q2 FY26 to $9.3B in Q3 FY26. The biggest changes: Beverage (1) −$215M (-4%); Food (2) +$32.7M (+2%); Other (3) −$26.5M (-1%). Operating margin 10.5% against 8.7% (+1.8 pts).
Starbucks, Q3 FY26: revenue $9.3B (-1% year over year), operating margin 10.5%, net earnings $1.0B, operating cash flow $1.6B. The chart draws each line against Q2 FY26, the increases inside each band.
Margins
| Q3 FY26 | Q2 FY26 | Change | |
|---|---|---|---|
| Operating margin | 10.5% | 8.7% | +1.8 pts |
| Net margin | 11.2% | 5.4% | +5.8 pts |
| Free cash flow margin | 14.5% | 1.0% | +13.5 pts |
Every line
| Line | Q3 FY26 | Q2 FY26 | Change | % |
|---|---|---|---|---|
| Beverage (1) | $5.4B | $5.7B | −$215M | -4% |
| Other (3) | $2.0B | $2.0B | −$26.5M | -1% |
| Food (2) | $1.9B | $1.8B | $32.7M | +2% |
| Revenue | $9.3B | $9.5B | −$209M | -2% |
| Other income, net | $439M | −$100M | $539M | — |
| Operating profit | $980M | $828M | $152M | +18% |
| Costs & expenses | $8.3B | $8.7B | −$361M | -4% |
| Pre-tax earnings | $1.4B | $728M | $691M | +95% |
| General & admin | $599M | $618M | −$19.3M | -3% |
| Other operating costs | $7.7B | $8.1B | −$342M | -4% |
| Net earnings | $1.0B | $511M | $534M | +105% |
| Income tax | $374M | $217M | $157M | +72% |
| Depreciation & amortization | $390M | $389M | $500K | +0.1% |
| Share-based compensation | $71.1M | $93.2M | −$22.1M | -24% |
| Working capital & other | $136M | −$629M | $765M | — |
| Operating cash flow | $1.6B | $364M | $1.3B | +350% |
| Free cash flow (OCF − capex) | $1.4B | $91.8M | $1.3B | 15× |
| Capital expenditures | $291M | $273M | $18.7M | +7% |
Questions
How much did Starbucks's revenue grow quarter over quarter in Q3 FY26?
Starbucks's revenue fell $209M (-2%) from $9.5B in Q2 FY26 to $9.3B in Q3 FY26.
What drove Starbucks's revenue change in Q3 FY26?
Beverage (1) −$215M (-4%); Food (2) +$32.7M (+2%); Other (3) −$26.5M (-1%).