Gutenberg Research
  • Home
  • Models
  • Education
    • Cooperative Education Program >
      • Enroll Today >
        • Program Enrollment (Virtual)
        • Program Enrollment (Bootcamp - Boston)
        • Program Enrollment (Bootcamp - New York)
      • Training Hub (Winter'22-'23) >
        • Meetings >
          • Kick-off Call/Orientation (Winter'22-'23)
          • Meeting 1: Building the Model (Winter'22-'23)
          • Meeting 2: Entering Your Forecast Into The Model (Winter'22-'23)
          • Meeting 3: Target Valuation (Winter'22-'23)
          • Meeting 4: Live Starbucks Release (Winter'22-'23)
          • Meeting 5: Live FOMC Policy Release & ERP Update (Winter'22-'23)
        • Classes >
          • Class 1 - Introduction to Financial Modeling (Winter'22-'23)
          • Class 2 - Building the Income Statement (Winter'22-'23)
          • Class 3 - Balance Sheet and Cash Flow Modeling (Winter'22-'23)
          • Class 4 - Model Calibration & Forecasting (Winter'22-'23)
          • Class 5 - The DCF Inputs: Beta, ERP, CAPM, & WACC (Winter'22-'23)
          • Class 6 - Discounted Cash Flow Valuation (Winter'22-'23)
          • Class 7 - Market Multiple-Based Valuation (Winter'22-'23)
          • Class 8 - How to Use Your Earnings Model (Winter'22-'23)
        • Other Program Links >
          • About the Exam
          • Co-op Program Exam
          • Model Submission (Winter'22-'23)
          • Co-op Bio Form
          • Co-op Q&A (Winter'22-'23)
    • Books >
      • Procrastinator's Guide - SBUX >
        • Templates - SBUX
      • Book Registration - Third Edition >
        • Templates - Third Edition
      • Book Registration - Second Edition >
        • Templates - Second Edition
  • About
    • Contact
    • Email Distribution Sign-up
    • Terms of Use
    • Privacy Policy

Starbucks Corp (NASDAQ:SBUX) Earnings Model  

Author: Jordan Weisberg, Published: October 23, 2021 Category: Earnings Preview (Prior to the F4Q2021 SBUX Results)

Notes From the Model Developer: I strongly believe that Starbucks growth will continue to be substantial. Watching the company grow over the last 10 years has been nothing short of remarkable. With a brand known for excellence in coffee and incredible service, there are no signs for any decline in sales. Especially after covid hopefully ending soon or at least being controlled things should start to get back to normal. As you stated in your presentation, the integration of mobile ordering and curbside pickup made up for those sales lost from going into the physical stores. I believe the mobile ordering industry has helped businesses grow. And brands like Starbucks who already have a substantial market share, now have an even larger opportunity to make money even with rising inflation rates. My three main aspects I will be focusing on are: 1) I am expecting Growth from around 33,000 to 55,000 stores over the next 10 years, this really stands out because that means the CFO expects revenues to basically double over the next 10 years. Not even including increasing online sales and inflation.
2) I really could also see the licensing opportunities as a huge aspect to really help continue Starbucks huge growth potential. Starbucks is expecting more growth outside of the US and China, adding other countries especially larger ones with more people such as India, Japan, and Canada, would offer substantial growth. 3) The part expecting enterprise growth to go from 8-10% offers some substantial growth opportunities with a new channel development occurring. By channel development I understand this as the integration of more online sales and mobile ordering/curbside. The entire mobile ordering system essentially has grown the entire fast-food industry, especially helping people who have severe anxiety and do not like talking in public to place their order...click to continue reading
SBUX Model (J.Weisberg)
File Size: 807 kb
File Type: xlsx
Download File

Forecast Notes
File Size: 19 kb
File Type: docx
Download File

ERP Model (J.Weisberg)
File Size: 2351 kb
File Type: xlsx
Download File


​Disclosure: ​The author of this article/model has no financial investment or other conflict of interest related to the subject company or other companies discussed. Any views made or implied in the content represent the author’s opinions.
Gutenberg Research is a media and education company. The information presented on our website and within Gutenberg Research models, files, or other content does not represent investment advice. Data and information presented on this website, or on third party websites posted by us, within our models, files, and other content is for demonstration only, and is presented “as is”. Neither Gutenberg Research nor any Gutenberg Research agents or associates are liable for any errors, delays, incompleteness of data presented, or for actions taken based on reliance on any information contained on this website or within Gutenberg Research models or other content. Investors should consult a professional investment adviser prior to making investment decisions. By accessing this site and/or receiving our models or other content you are deemed to have read and agreed to our Terms of Use posted on this website. This website uses Cookies, refer to our Privacy Policy for details. The Gutenberg Research logo is among the registered and unregistered trademarks of Gutenberg Research LLC. © Gutenberg Research LLC 2023. All Rights Reserved.