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Starbucks Corp  (NAS:SBUX) Gross Profit: $13,460 Mil (TTM As of Jun. 2017)

Starbucks Corp's gross profit for the three months ended in Jun. 2017 was $3,412 Mil. Starbucks Corp's gross profit for the trailing twelve months (TTM) ended in Jun. 2017 was $13,460 Mil.

Gross Margin % is calculated as gross profit divided by its revenue. Starbucks Corp's gross profit for the three months ended in Jun. 2017 was $3,412 Mil. Starbucks Corp's Revenue for the three months ended in Jun. 2017 was $5,662 Mil. Therefore, Starbucks Corp's Gross Margin % for the quarter that ended in Jun. 2017 was 60.27%.

Starbucks Corp had a gross margin of 60.27% for the quarter that ended in Jun. 2017 => Durable competitive advantage

During the past 13 years, the highest Gross Margin % of Starbucks Corp was 60.07%. The lowest was 55.26%. And the median was 58.15%.


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

* Premium members only.

Starbucks Corp Annual Data

Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17
Gross Profit Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 8,484.50 9,589.00 11,375.20 12,804.80 13,348.60

Starbucks Corp Quarterly Data

Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17
Gross Profit Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3,457.00 3,437.90 3,152.80 3,412.40 3,345.40

Competitive Comparison
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap.


Calculation

Gross Profit is the different between the sale prices and the cost of buying or producing the goods.

Starbucks Corp's Gross Profit for the fiscal year that ended in Sep. 2017 is calculated as

Gross Profit (A: Sep. 2017 )=Revenue - Cost of Goods Sold
=22386.8 - 9038.2
=13,349

Starbucks Corp's Gross Profit for the quarter that ended in Jun. 2017 is calculated as

Gross Profit (Q: Jun. 2017 )=Revenue - Cost of Goods Sold
=5661.5 - 2249.1
=3,412

Gross Profit for the trailing twelve months (TTM) ended in Jun. 2017 was 3457 (Sep. 2016 ) + 3437.9 (Dec. 2016 ) + 3152.8 (Mar. 2017 ) + 3412.4 (Jun. 2017 ) = $13,460 Mil.

Gross Profit is the numerator in the calculation of Gross Margin:

Starbucks Corp's Gross Margin % for the quarter that ended in Jun. 2017 is calculated as

Gross Margin % (Q: Jun. 2017 )=Gross Profit (Q: Jun. 2017 ) / Revenue (Q: Jun. 2017 )
=(Revenue - Cost of Goods Sold) / Revenue
=3,412 / 5661.5
=60.27 %

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.


Explanation

Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.

Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %

1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key

Starbucks Corp had a gross margin of 60.27% for the quarter that ended in Jun. 2017 => Durable competitive advantage


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