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Starbucks (SBUX) Q4 FY25 earnings results (fourth quarter fiscal 2025)
10-K filed Nov 14, 2025
Starbucks (SBUX) reported revenue of $9.6B for the fourth quarter fiscal 2025 (Q4 FY25), +5% from a year earlier and +1% from the quarter before. Operating margin was 2.9%, net earnings $133M (1.4% of revenue).
Starbucks, Q4 FY25: revenue $9.6B (+6% year over year), operating margin 2.9%, net earnings $133M, operating cash flow $1.4B. The chart follows the revenue to costs, profit and cash.
| Q4 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $9.6B | +1% | +5% |
| Operating profit | $278M | -70% | -79% |
| Net earnings | $133M | -76% | -85% |
| Operating cash flow | $1.4B | +38% | -10% |
| Free cash flow | $926M | +113% | +26% |
What changed
Revenue was $9.6B in Q4 FY25, up 5% year over year and up 1% from the previous quarter. Beverage was the largest line at 61% of revenue.
Operating profit was $0.28B, a 2.9% margin (down 11.5 points year over year). Operating profit fell $1.0B even though revenue rose $0.50B versus a year earlier, so costs grew faster than sales. Total costs grew 20% against revenue growth of 5%. The fastest-growing cost line was Other operating costs (+21%). Net earnings were $0.13B, down 85% year over year. The effective tax rate was 18.7%.
Operating cash flow was $1.4B (down 10% year over year), 1037% of net earnings. Non-cash charges added back $0.46B of depreciation and amortization and $0.07B of share-based compensation. Working capital and other items added $0.72B. Capital expenditures of $0.46B left free cash flow of $0.93B.
Questions
What was Starbucks' revenue in the fourth quarter fiscal 2025?
Starbucks (SBUX) reported revenue of $9.6B for the fourth quarter fiscal 2025 (Q4 FY25), +5% from a year earlier and +1% from the quarter before.
Was Starbucks profitable in the fourth quarter fiscal 2025?
Operating profit was $278M (2.9% of revenue) and net earnings $133M.
Source: Starbucks 10-K on SEC EDGAR.