Filing Flows › Starbucks (SBUX) › Q4 FY26 › vs Q4 FY25
Starbucks (SBUX) Q4 FY26 vs Q4 FY25 (year over year)
Starbucks's revenue fell $428M (-4%) from $9.6B in Q4 FY25 to $9.1B in Q4 FY26. The biggest changes: Company-operated coffeehouses −$432M (-5%); Licensed coffeehouses +$103M (+9%); Other −$98.5M (-16%). Operating margin 10.8% against 2.9% (+7.9 pts).
Starbucks, Q4 FY26: revenue $9.1B (-4% year over year), operating margin 10.8%, net earnings $677M, operating cash flow $1.4B. The chart draws each line against Q4 FY25, the increases inside each band.
Margins
| Q4 FY26 | Q4 FY25 | Change | |
|---|---|---|---|
| Operating margin | 10.8% | 2.9% | +7.9 pts |
| Net margin | 7.4% | 1.4% | +6.0 pts |
| Free cash flow margin | 11.0% | 9.7% | +1.4 pts |
Every line
| Line | Q4 FY26 | Q4 FY25 | Change | % |
|---|---|---|---|---|
| Company-operated coffeehouses | $7.4B | $7.9B | −$432M | -5% |
| Licensed coffeehouses | $1.2B | $1.1B | $103M | +9% |
| Other | $516M | $614M | −$98.5M | -16% |
| Revenue | $9.1B | $9.6B | −$428M | -4% |
| Operating profit | $992M | $278M | $714M | +257% |
| Costs & expenses | $8.1B | $9.3B | −$1.1B | -12% |
| Pre-tax earnings | $929M | $164M | $765M | +467% |
| Other expense, net | $62.9M | $114M | −$51.4M | -45% |
| General & admin | $517M | $642M | −$125M | -19% |
| Other operating costs | $7.6B | $8.6B | −$1.0B | -12% |
| Net earnings | $677M | $133M | $544M | +408% |
| Income tax | $252M | $30.7M | $221M | +720% |
| Depreciation & amortization | $384M | $456M | −$71.8M | -16% |
| Share-based compensation | $78.2M | $74.0M | $4.2M | +6% |
| Working capital & other | $245M | $719M | −$474M | -66% |
| Operating cash flow | $1.4B | $1.4B | $2.5M | +0.2% |
| Free cash flow (OCF − capex) | $1.0B | $926M | $82.7M | +9% |
| Capital expenditures | $376M | $456M | −$80.2M | -18% |
Questions
How much did Starbucks's revenue grow year over year in Q4 FY26?
Starbucks's revenue fell $428M (-4%) from $9.6B in Q4 FY25 to $9.1B in Q4 FY26.
What drove Starbucks's revenue change in Q4 FY26?
Company-operated coffeehouses −$432M (-5%); Licensed coffeehouses +$103M (+9%); Other −$98.5M (-16%).