Gutenberg Research
  • Home
  • Models
    • Modeling Approach
  • Education
    • Cooperative Education Program
    • Book >
      • 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: Joshua Egan, Published: July 17, 2019 11:30am Category: Earnings Preview (Prior to the F3Q2019 SBUX Results)

​Model Description: The primary drivers of this model are the estimates of comp store sales, net new stores, and the ratio of operating expenses (excluding depreciation) as a percentage of revenue, for each geographic region. Management's guidance is used as a reasonableness check against the forecasts entered into this model. Key assumptions include increased competition in China over the next few quarters from Luckin and other companies, an intensified economic downturn in Europe, and stronger results in the U.S. driven by the recent changes to the customer loyalty program and new beverage launches. As a result of these assumptions, I am modeling a strong improvement in the Americas revenue and operating margin over the course of the next four quarters. ​I am also modeling a slight decline in the CAP Segment revenue growth rate, with a slight contraction in operating margin in the first half of fiscal year 2020.
Starbucks Corp (NASDAQ:SBUX) Americas Segment Forecast
Starbucks Corp (NASDAQ:SBUX) CAP Segment Forecast

SBUX Earnings Model (Joshua Egan).xlsx
File Size: 177 kb
File Type: xlsx
Download File

About the Model Developer

​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 entertainment 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 2022. All Rights Reserved.