Including a small contribution from new store openings, total sales grew by 1. At actual exchange rates, sales grew by 1.
Fixed-Charge Coverage Ratio Checking the financial health of Starbucks is an important step in ratio analysis. Leases are similar to regular debt except that U. While there is no standard for this ratio, the higher fixed-charge coverage ratio is, the more cushion Starbucks will have to cover its fixed charges.
While most analysts consider only book value of debt in their calculation of this ratio, some financial professionals also lump operating leases and minority interest into this calculation.
Operating Margin Ratio As with any other business, Starbucks must generate profit margins and returns that are relatively higher than those of its competitors. Operating margin is one of the most important margin ratios for Starbucks.
It provides more comparability against competitors whose reliance on borrowing to finance operations varies. Firms with strong economic moats typically have higher ROE compared to rivals. For this reason, analysts typically look into another metric called return on invested capital ROICwhich is calculated as after-tax operating income divided by invested capital.
Invested capital represents total equity, debt and capital lease obligation.
One short-coming of this ratio, though, is that it does not take into account any off-balance sheet financing Starbucks has, such as operating leases. One way around this issue is to capitalize and include operating leases in the calculation of the ROIC ratio.
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Starbucks Financial Statement Analysis 09/08/ [pic] Starbucks Financial Statement Analysis The intent of this paper is to research and analyze the financial statement of Starbucks, a locally originated (yet global) publicly traded, Pacific Northwest Company.
Resources used are the K, the DataMonitor company profile, Mint Global, and the NetAdvantage Corporate Social Responsibility .
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