Starbucks (HAM:SRB) Cyclically Adjusted PB Ratio: (As of Sep. 16, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

HAM:SRB Starbucks Corp HAM:SRB
84 GF Score
Price €84.24
GF Value €84.80
Valuation Fairly Valued
! 7 Warning Signs
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What is Starbucks Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Starbucks  (HAM:SRB) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Starbucks Cyclically Adjusted PB Ratio Related Terms


Starbucks Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Starbucks's Cyclically Adjusted PB Ratio 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.

Starbucks Cyclically Adjusted PB Ratio Chart

Starbucks Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 150.68 0.00 0.00 0.00 0.00

Starbucks Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PB Ratio 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 0.00 0.00 0.00 0.00 0.00

HAM:SRB vs MCD, CMG, YUM: Cyclically Adjusted PB Ratio Comparison

For the Restaurants subindustry, Starbucks's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio 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 Cyclically Adjusted PB Ratio vs Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, Starbucks's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Starbucks's Cyclically Adjusted PB Ratio falls into.


HAM:SRB
84GF Score
Starbucks Corp HAM:SRB
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Starbucks Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Starbucks's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Starbucks's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=-5.884/333.9520*333.9520
=-5.884

Current CPI (Jun. 2026) = 333.9520.

Starbucks Quarterly Data

Book Value per Share CPI Adj_Book
201609 3.589 241.428 4.964
201612 3.776 241.432 5.223
201703 3.624 243.801 4.964
201706 3.548 244.955 4.837
201709 3.224 246.819 4.362
201712 3.407 246.524 4.615
201803 2.775 249.554 3.713
201806 2.505 251.989 3.320
201809 0.773 252.439 1.023
201812 -2.026 251.233 -2.693
201903 -3.706 254.202 -4.869
201906 -3.143 256.143 -4.098
201909 -4.825 256.759 -6.276
201912 -5.127 256.974 -6.663
202003 -5.877 258.115 -7.604
202006 -6.569 257.797 -8.510
202009 -5.669 260.280 -7.274
202012 -5.488 260.474 -7.036
202103 -5.525 264.877 -6.966
202106 -4.859 271.696 -5.972
202109 -3.886 274.310 -4.731
202112 -6.453 278.802 -7.729
202203 -6.866 287.504 -7.975
202206 -7.222 296.311 -8.139
202209 -7.735 296.808 -8.703
202212 -7.070 296.797 -7.955
202303 -6.820 301.836 -7.546
202306 -6.675 305.109 -7.306
202309 -6.603 307.789 -7.164
202312 -6.883 306.746 -7.493
202403 -6.901 312.332 -7.379
202406 -6.536 314.175 -6.947
202409 -5.882 315.301 -6.230
202412 -6.347 315.605 -6.716
202503 -6.205 319.799 -6.480
202506 -5.756 322.561 -5.959
202509 -6.055 324.800 -6.226
202512 -6.265 324.054 -6.456
202603 -6.442 330.213 -6.515
202606 -5.884 333.952 -5.884

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book 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.

Is Starbucks (HAM:SRB) Overvalued in 2026?

Based on GuruFocus' analysis, Starbucks stock appears to be undervalued. The current stock price of €84.24 is trading 0.7% below its estimated GF Value™ of €84.80. GuruFocus considers Starbucks to be Fairly Valued.

Key valuation signals for HAM:SRB:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €84.80 vs. price of €84.24 (0.7% below fair value)
  • GF Score™: 84/100 with 7 warning signs

No single metric tells the full story. See the HAM:SRB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Starbucks Business Description

Address 2401 Utah Avenue South, Seattle, WA, USA, 98134
Starbucks stands out as the world's biggest and most recognizable coffee brand, powered by ultracustomizable beverages in-store and a sweeping footprint of nearly 41,000 cafes in over 80 countries. About 52% are company-operated, with the balance run by licensees. The company operates roasteries and sells across its North America (74% of revenue as of the end of fiscal 2025), international (21%), and channel development (5%) segments. The brand collects revenue from company-operated stores, licensee royalties, equipment and product sales, retail ready-to-drink beverages, and packaged coffee.
84GF Score

Get the complete analysis for HAM:SRB

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€84.24
Price
€84.80
GF Value