Starbucks

SBUX · Consumer Discretionary · Market cap $123B

Q3 FY26 Mar 30 – Jun 28, 2026 reported Jul 29, 2026

Revenue$9.3B −1% year over year

Gross profit$6.5B

Operating profit$1B

Net profit$1B 11% margin

Numbers and detail

All figures in billions of U.S. dollars, for Q3 FY26 (period ends Jun 28, 2026).
Item	Value	Share of revenue	Year over year
Revenue	9.3	100%	−1%
Beverage	5.4	58%	−5%
Other Products	2	22%	+5%
Food	1.9	20%	+4%
Cost of revenue	−2.8	30%
Gross profit	6.5	70% margin	+1pp
Store operating expenses	−4.1	45%	+0pp
G&A	−0.6	6%	+0pp
Other operating expenses	−0.4	5%	+0pp
Depreciation & amortization	−0.4	4%	+0pp
Operating profit	1	11% margin	+1pp
Tax	−0.4
Net profit	1	11%	+5pp

All figures in billions of U.S. dollars, for Q2 FY26 (period ends Mar 29, 2026).
Item	Value	Share of revenue	Year over year
Revenue	9.5	100%	+9%
Beverage	5.7	60%	+7%
Other Products	2	21%	+15%
Food	1.8	19%	+8%
Cost of revenue	−3.2	34%
Gross profit	6.3	66% margin	−2pp
Store operating expenses	−4.3	46%	+0pp
G&A	−0.6	6%	+0pp
Depreciation & amortization	−0.4	4%	+0pp
Other operating expenses	−0.2	2%	+0pp
Operating profit	0.8	9% margin	+2pp
Tax	−0.2
Interest & other costs	−0.1
Net profit	0.5	5%	+1pp

All figures in billions of U.S. dollars, for Q1 FY26 (period ends Dec 28, 2025).
Item	Value	Share of revenue	Year over year
Revenue	9.9	100%	+6%
Beverage	5.9	60%	+5%
Other Products	2.1	21%	+8%
Food	1.9	19%	+5%
Cost of revenue	−3.3	33%
Gross profit	6.6	67% margin	−2pp
Store operating expenses	−4.6	46%	+0pp
G&A	−0.6	6%	+0pp
Depreciation & amortization	−0.4	4%	+0pp
Other operating expenses	−0.2	2%	+0pp
Operating profit	0.9	9% margin	−3pp
Tax	−0.5
Interest & other costs	−0.1
Net profit	0.3	3%	−5pp

All figures in billions of U.S. dollars, for Q4 FY25 (period ends Sep 28, 2025).
Item	Value	Share of revenue	Year over year
Revenue	9.6	100%	+5%
Beverage	5.8	60%	+6%
Other Products	2	21%	+3%
Food	1.8	19%	+7%
Cost of revenue	−3.1	32%
Gross profit	6.5	68% margin	−1pp
Store operating expenses	−0.4	178%	+0pp
G&A	−2.6	27%	+0pp
Depreciation & amortization	−1.7	18%	+0pp
Other operating expenses	−1.5	15%	+0pp
Operating profit	0.3	3% margin	−11pp
Interest & other costs	−0.2
Net profit	0.1	1%	−9pp

Quarter by quarter

Pick a quarter and the diagram above changes. Bars compare revenue across the quarters we hold.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q3 FY26	Mar 30 – Jun 28, 2026	Jul 29, 2026	$9.3B	−1%	11%	$1B	11%
Q2 FY26	Mar 29, 2026	Apr 28, 2026	$9.5B	+9%	8%	$0.5B	5%
Q1 FY26	Sep 29 – Dec 28, 2025	Jan 28, 2026	$9.9B	+6%	9%	$0.3B	3%
Q4 FY25	Jun 30 – Sep 28, 2025	Nov 14, 2025	$9.6B	+5%	3%	$0.1B	1%