Short answer
Starbucks (SBUX) filed its fiscal 2025 10-K annual report with the SEC on Nov 14, 2025. It reported revenue of $37.2B (+2.8% year over year) and net income of $1.9B.
- Top risk flagged: Cybersecurity risk overseen by CISO with 20+ years experience, reporting quarterly to Audit Committee on incidents and mitigation efforts
FY2025 key financial metrics · XBRL
- Revenue
- $37.2B
- +2.8% YoY
- Net income
- $1.9B
- −50.6% YoY
- Operating margin
- 7.9%
- −7.1 pp YoY
- EPS (diluted)
- $1.63
- −50.8% YoY
- ROE
- -22.9%
- +27.6 pp YoY
- Operating cash flow
- $4.7B
- −22.1% YoY
Source: XBRL data from the Starbucks (SBUX) FY2025 10-K on SEC EDGAR. USD.
Starbucks FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model not detailed here; focus on governance, ethics, and proxy disclosures
- Introduced a new code of ethics for senior finance officers, publicly accessible on company website
- Enhanced disclosure policies for ethics amendments and waivers relating to key executives
- Proxy Statement to include detailed information on executive compensation, stock ownership, and governance
- No operational or product updates; emphasis on corporate governance and regulatory compliance
Management Discussion & Analysis
- Revenue $37.2B, up 3% YoY from $36.2B, driven by net new stores and acquisitions
- Operating income $2.9B, down from $5.4B, operating margin 7.9% vs 15.0%, impacted by restructuring and inflation
- International segment revenue +7%, best performer; North America segment +1%, worst with 2% comparable store sales decline
- Capital expenditures $2.3B, dividends and buybacks returned $2.8B to shareholders
- Fiscal 2026 expects reduced North America revenues due to store closures, slight margin accretion, continued macroeconomic challenges
Risk Factors
- Cybersecurity risk overseen by CISO with 20+ years experience, reporting quarterly to Audit Committee on incidents and mitigation efforts
- Risk Management Committee, co-managed by CFO and Chief Legal Officer, reviews cybersecurity and IT risks at least quarterly
- Board and Audit Committee responsible for cybersecurity and data privacy risk governance, integrated into Enterprise Risk Management program
Generated from the filing text; verify against the original. How to read a 10-K
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