Starbucks (SBUX) Operating Margin (2009 - 2026)
Starbucks (SBUX) reported Operating Margin of 8.69% for Q1 2026, up 183.0% year-over-year from 3.07% in Q1 2025, and down 3.3% on a QoQ basis from 8.98% in Q4 2025.
Starbucks (SBUX) has 18 years of Operating Margin data on file, last reported at 8.69% in Q1 2026.
- Quarterly Operating Margin rose 183.0% year-over-year to 8.69% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 7.62% (down 489.0% YoY) and the FY2025 annual result came in at 7.9%, down 705.0% from the prior year.
- Operating Margin slipped to 8.69% in Q1 2026 per SBUX's latest filing, from 8.98% in the prior quarter.
- Across five years, Operating Margin topped out at 18.2% in Q4 2023 and bottomed at 2.91% in Q3 2025.
- The 5-year median for Operating Margin is 14.29% (2022), against an average of 12.84%.
- The widest annual swing landed in 2023, when Operating Margin surged 399 bps; it then tumbled 1150 bps in 2025.
- Tracing SBUX's Operating Margin over 5 years: stood at 14.21% in 2022, then advanced by 11 bps to 15.76% in 2023, then dropped by 24 bps to 11.94% in 2024, then slipped by 25 bps to 8.98% in 2025, then retreated by 3 bps to 8.69% in 2026.
- Per Business Quant, the three latest SBUX Operating Margin figures stand at 8.69% (Q1 2026), 8.98% (Q4 2025), and 2.91% (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Starbucks | 110.27 Bn | 108.58 Bn | 9.40 Bn | 8.69% |
| 2 | Yum Brands | 40.90 Bn | 40.21 Bn | 1.38 Bn | 31.28% |
| 3 | Chipotle Mexican Grill | 39.62 Bn | 38.75 Bn | 2.61 Bn | 12.86% |
| 4 | Restaurant Brands International | 25.25 Bn | 25.79 Bn | 2.14 Bn | 26.77% |
| 5 | Darden Restaurants | 23.41 Bn | 23.17 Bn | 3.31 Bn | 12.15% |
| 6 | Yum China Holdings | 15.07 Bn | 13.64 Bn | 3.24 Bn | 13.67% |
| 7 | Texas Roadhouse | 11.59 Bn | 11.39 Bn | 1.40 Bn | 8.96% |
| 8 | Dominos Pizza | 10.51 Bn | 10.27 Bn | 464.51 Mn | 20.02% |
| 9 | Cava | 8.67 Bn | 8.28 Bn | 797.57 Mn | 1.02% |
| 10 | Dutch Bros | 7.47 Bn | 7.43 Bn | 107.48 Mn | 7.39% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 29, 2026 | 8.69% |
| Dec 28, 2025 | 8.98% |
| Sep 28, 2025 | 2.91% |
| Jun 29, 2025 | 9.89% |
| Mar 30, 2025 | 6.86% |
| Dec 29, 2024 | 11.94% |
| Sep 29, 2024 | 14.40% |
| Jun 30, 2024 | 16.65% |
| Mar 31, 2024 | 12.83% |
| Dec 31, 2023 | 15.76% |
| Oct 1, 2023 | 18.20% |
| Jul 2, 2023 | 17.28% |
| Apr 2, 2023 | 15.22% |
| Jan 1, 2023 | 14.38% |
| Oct 2, 2022 | 14.21% |
| Jul 3, 2022 | 15.90% |
| Apr 3, 2022 | 12.43% |
| Jan 2, 2022 | 14.63% |
| Oct 3, 2021 | 18.19% |
| Jun 27, 2021 | 19.86% |
| Mar 28, 2021 | 14.81% |
| Dec 27, 2020 | 13.53% |
| Sep 27, 2020 | 9.00% |
| Jun 28, 2020 | -16.67% |
| Mar 29, 2020 | 8.13% |
| Dec 29, 2019 | 17.19% |
| Sep 29, 2019 | 16.06% |
| Jun 30, 2019 | 16.43% |
| Mar 31, 2019 | 13.60% |
| Dec 30, 2018 | 15.31% |
| Sep 30, 2018 | 15.18% |
| Jul 1, 2018 | 16.45% |
| Apr 1, 2018 | 12.81% |
| Dec 31, 2017 | 18.38% |
| Oct 1, 2017 | 17.94% |
| Jul 2, 2017 | 18.44% |
| Apr 2, 2017 | 17.67% |
| Jan 1, 2017 | 19.76% |
| Oct 2, 2016 | 21.49% |
| Jun 26, 2016 | 19.52% |
| Mar 27, 2016 | 17.31% |
| Dec 27, 2015 | 19.69% |
| Sep 27, 2015 | 19.72% |
| Jun 28, 2015 | 19.23% |
| Mar 29, 2015 | 17.04% |
| Dec 28, 2014 | 19.06% |
| Sep 28, 2014 | 20.45% |
| Jun 29, 2014 | 18.50% |
| Mar 30, 2014 | 16.63% |
| Dec 29, 2013 | 19.19% |
| Sep 29, 2013 | -55.83% |
| Jun 30, 2013 | 16.47% |
| Mar 31, 2013 | 15.33% |
| Dec 30, 2012 | 16.62% |
| Sep 30, 2012 | 15.55% |
| Jul 1, 2012 | 18.79% |
| Apr 1, 2012 | 17.07% |
| Jan 1, 2012 | 20.35% |
| Oct 2, 2011 | 14.78% |
| Jul 3, 2011 | 16.64% |
| Apr 3, 2011 | 16.40% |
| Jan 2, 2011 | 20.47% |
| Oct 3, 2010 | 36.50% |
| Jun 27, 2010 | 14.99% |
| Mar 28, 2010 | 15.96% |
| Dec 27, 2009 | 82.04% |
| Sep 27, 2009 | 2.86% |
| Jun 28, 2009 | 10.13% |
| Mar 29, 2009 | 11.01% |