Short answer
Starbucks (SBUX) filed its Q4 2025 10-Q quarterly report on Jan 28, 2026 for the quarter ended Dec 28, 2025. Quarterly revenue was $9.9B (up 5.5% year over year) with net income of $293M.
Q4 2025 key financials · XBRL
- Revenue
- $9.9B
- +5.5% YoY
- Net income
- $293M
- −62.4% YoY
- Operating margin
- 9.0%
- EPS (diluted)
- $0.26
- −62.3% YoY
Source: XBRL data from the Starbucks (SBUX) Q4 2025 10-Q on SEC EDGAR. USD.
Starbucks Q4 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $9.9B, up 5.5% YoY vs $9.4B; company-operated stores +5.2% ($8.2B vs $7.8B), licensed stores down 0.5% ($1.1B vs $1.1B)
- Operating margin 9.0% vs 11.9% YoY, contracting 290 bps due to labor investments and inflationary pressures including coffee prices and tariffs
- Best performing segment: International revenue +10% to $2.1B with operating margin expanding 100 bps to 13.7%, driven by sales leverage and lower expenses
- Worst performing segment: North America margin contracted 480 bps to 11.9%, operating income down 27% to $867M despite 3% revenue growth to $7.3B
- Cash $3.9B vs $3.7B prior quarter, operating cash flow $1.6B vs $2.1B YoY, capex $0.3B down $0.6B; plans to use China joint venture proceeds for debt reduction and growth investments
- Management expects macroeconomic pressures easing in H2 FY26, continued execution of “Back to Starbucks” strategy, and transaction close for China JV early 2026
Risk Factors
- No new or materially changed risk factors reported since last 10-K
- Carried-forward operational risk: exposure to changing consumer preferences and global supply chain disruptions
- Carried-forward regulatory risk: compliance with evolving food safety and labor laws across multiple jurisdictions
- Carried-forward financial risk: foreign currency fluctuations impacting international revenue and costs
- Carried-forward liquidity risk: ongoing debt maturities requiring refinancing and cash flow management
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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