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Starbucks (NEOE:SBUX) Cyclically Adjusted FCF per Share : C$0.95 (As of Mar. 2025)


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What is Starbucks Cyclically Adjusted FCF per Share?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted FCF per Share and the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years.

Starbucks's adjusted free cash flow per share for the three months ended in Mar. 2025 was C$-0.078. Add all the adjusted free cash flow per share for the past 10 years together and divide the count will get our Cyclically Adjusted FCF per Share, which is C$0.95 for the trailing ten years ended in Mar. 2025.

During the past 12 months, Starbucks's average Cyclically Adjusted FCF Growth Rate was 3.40% per year. During the past 3 years, the average Cyclically Adjusted FCF Growth Rate was 13.20% per year. During the past 5 years, the average Cyclically Adjusted FCF Growth Rate was 12.40% per year. During the past 10 years, the average Cyclically Adjusted FCF Growth Rate was 21.60% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted FCF Growth Rate using Cyclically Adjusted FCF per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted FCF Growth Rate of Starbucks was 65.10% per year. The lowest was 8.70% per year. And the median was 26.30% per year.

As of today (2025-05-31), Starbucks's current stock price is C$23.75. Starbucks's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2025 was C$0.95. Starbucks's Cyclically Adjusted Price-to-FCF of today is 25.00.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of Starbucks was 103.06. The lowest was 22.65. And the median was 45.19.


Starbucks Cyclically Adjusted FCF per Share Historical Data

The historical data trend for Starbucks's Cyclically Adjusted FCF per Share can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Starbucks Cyclically Adjusted FCF per Share Chart

Starbucks Annual Data
Trend Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24
Cyclically Adjusted FCF per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only - - 0.79 0.84 0.95

Starbucks Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Cyclically Adjusted FCF per Share Get a 7-Day Free Trial 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 0.93 0.94 0.95 0.95 0.95

Competitive Comparison of Starbucks's Cyclically Adjusted FCF per Share

For the Restaurants subindustry, Starbucks's Cyclically Adjusted Price-to-FCF, along with its competitors' market caps and Cyclically Adjusted Price-to-FCF data, can be viewed below:

* 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. Note that "N/A" values will not show up in the chart.


Starbucks's Cyclically Adjusted Price-to-FCF Distribution in the Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, Starbucks's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

* The bar in red indicates where Starbucks's Cyclically Adjusted Price-to-FCF falls into.


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Starbucks Cyclically Adjusted FCF per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted FCF per Share and the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years.

What is Cyclically Adjusted FCF per Share? How do we calculate Cyclically Adjusted FCF per Share?

Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted FCF per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the free cash flow per share from 2001 through 2010.

We adjusted the 2001 free cash flow per share data with the total inflation from 2001 through 2010 to the equivalent free cash flow in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's free cash flow is $1 a share in 2001, then the 2001's equivalent free cash flow in 2010 is $1.4 a share. If Wal-Mart's free cash flow is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 free cash flow in 2010 is $1.35. So on and so forth, you get the equivalent free cash flow per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted FCF per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Starbucks's adjusted Free Cash Flow per Share data for the three months ended in Mar. 2025 was:

Adj_FreeCashFlowPerShare= Free Cash Flow per Share /CPI of Mar. 2025 (Change)*Current CPI (Mar. 2025)
=-0.078/134.9266*134.9266
=-0.078

Current CPI (Mar. 2025) = 134.9266.

Starbucks Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201506 0.075 100.684 0.101
201509 0.112 100.392 0.151
201512 0.249 99.792 0.337
201603 0.040 100.470 0.054
201606 0.131 101.688 0.174
201609 0.189 101.861 0.250
201612 0.232 101.863 0.307
201703 0.025 102.862 0.033
201706 0.149 103.349 0.195
201709 0.106 104.136 0.137
201712 0.261 104.011 0.339
201803 -0.002 105.290 -0.003
201806 0.139 106.317 0.176
201809 1.589 106.507 2.013
201812 0.437 105.998 0.556
201903 -0.005 107.251 -0.006
201906 0.167 108.070 0.209
201909 0.134 108.329 0.167
201912 0.333 108.420 0.414
202003 -0.427 108.902 -0.529
202006 -0.181 108.767 -0.225
202009 0.269 109.815 0.331
202012 0.342 109.897 0.420
202103 0.124 111.754 0.150
202106 0.304 114.631 0.358
202109 0.231 115.734 0.269
202112 0.331 117.630 0.380
202203 -0.067 121.301 -0.075
202206 0.196 125.017 0.212
202209 0.134 125.227 0.144
202212 0.265 125.222 0.286
202303 0.070 127.348 0.074
202306 0.259 128.729 0.271
202309 0.307 129.860 0.319
202312 0.440 129.419 0.459
202403 -0.038 131.776 -0.039
202406 0.239 132.554 0.243
202409 0.184 133.029 0.187
202412 0.361 133.157 0.366
202503 -0.078 134.927 -0.078

Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.


Starbucks  (NEOE:SBUX) Cyclically Adjusted FCF per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted FCF per Share may underestimate the company's free cash flow. Cyclically Adjusted Price-to-FCF can seem to be too high even the actual Price-to-Free-Cash-Flow is low.

For the Cyclically Adjusted Price-to-FCF, the free cash flow per share of the past 10 years are inflation-adjusted and averaged. The result is used for P/FCF calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted Price-to-FCF is also called CAPFCF Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted free cash flow per share of a company over the past 10 years.

Starbucks's Cyclically Adjusted Price-to-FCF of today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/Cyclically Adjusted FCF per Share
=23.75/0.95
=25.00

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of Starbucks was 103.06. The lowest was 22.65. And the median was 45.19.


Be Aware

Cyclically Adjusted Price-to-FCF works better for cyclical companies. It gives you a better idea on the company's real free cash flow value.


Starbucks Cyclically Adjusted FCF per Share Related Terms

Thank you for viewing the detailed overview of Starbucks's Cyclically Adjusted FCF per Share provided by GuruFocus.com. Please click on the following links to see related term pages.


Starbucks Business Description

Industry
Address
2401 Utah Avenue South, Seattle, WA, USA, 98134
Starbucks is one of the most widely recognized restaurant brands in the world, operating more than 40,000 stores across more than 80 countries as of the end of fiscal 2024. The firm operates in three segments: North America, international markets, and channel development (grocery and ready-to-drink beverage). The coffee chain generates revenue from company-operated stores, royalties, sales of equipment and products to license partners, ready-to-drink beverages, packaged coffee sales, and single-serve products.