Starbucks (SBUX) Operating Margin (2009 - 2026)
Starbucks (SBUX) recorded Operating Margin of 10.52% in fiscal Q3 2026 (quarter ended Jun 28, 2026), up 0.62 percentage points from 9.89% a year earlier and up 1.83 percentage points from the prior quarter.
Starbucks (SBUX) Operating Margin (2009 - 2026) Analysis & Trends
On a TTM basis, Starbucks' Operating Margin came in at 7.77% as of Jun 28, 2026, down 3.04 percentage points year-over-year; for FY2025 (ended Sep 28, 2025), it was 7.90%, down 7.05 percentage points from FY2024.
- Annual Operating Margin has a five-year change of +1.26 percentage points (FY2020 to FY2025).
- Across earlier fiscal years, Operating Margin came in at 14.95% in FY2024 (-1.37 pp), 16.32% in FY2023 (+2.00 pp), 14.32% in FY2022 (-2.45 pp) and 16.77% in FY2021 (+10.12 pp).
- The fiscal Q3 2026 figure is the highest quarterly Operating Margin since fiscal Q1 2025.
- On a year-over-year basis, Operating Margin rose in two of the last eight quarters, with an average year-over-year change of -4.04 percentage points.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 9.19 percentage points in fiscal Q4 2021, against a drop of 11.50 percentage points in fiscal Q4 2025 at the low end.
- Per Business Quant, the preceding three fiscal quarters came in at 8.69% (Q2 2026), 8.98% (Q1 2026) and 2.91% (Q4 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Mcdonalds | 171.89 Bn | 166.71 Bn | 6.42 Bn | 47.02% |
| 2 | Starbucks | 109.83 Bn | 97.45 Bn | - | 10.52% |
| 3 | Yum Brands | 41.48 Bn | 38.36 Bn | 1.47 Bn | 30.20% |
| 4 | Chipotle Mexican Grill | 39.16 Bn | 35.14 Bn | - | 15.70% |
| 5 | Restaurant Brands International | 25.80 Bn | 21.36 Bn | 1.38 Bn | 28.41% |
| 6 | Darden Restaurants | 24.38 Bn | 23.48 Bn | 1.68 Bn | 9.98% |
| 7 | Restaurant Brands International Limited Partnership | 17.01 Bn | 12.57 Bn | 1.38 Bn | 28.41% |
| 8 | Yum China Holdings | 15.57 Bn | 9.23 Bn | 537.00 Mn | 11.09% |
| 9 | Texas Roadhouse | 11.21 Bn | 10.55 Bn | - | 8.50% |
| 10 | Luckin Coffee | 10.72 Bn | 9.80 Bn | - | - |
Historic Data
| Date | Value |
|---|---|
| Jun 28, 2026 | 10.52% |
| 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% |
Starbucks Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=SBUX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "SBUX", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=SBUX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();