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Starbucks · 2025 report · 12 min

What's in a six-dollar latte?

You hand over six dollars. Before Starbucks keeps a cent, who else gets paid?

COFFEE$
Ticket 01 · The guess

The biggest bite

Starbucks' Form 10‑K shows each of its costs as a share of its revenue. For every dollar Starbucks took in during fiscal 2025, its business year that ended in September 2025, what share went to running its own stores: baristas' pay, rent, marketing and the rest? (A share of a dollar is cents: ten percent is ten cents.)

15%
0%100%
Words to know

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Sources and every number (1)

Sources

  • Starbucks Corporation Form 10-K for the fiscal year ended September 28, 2025 · Starbucks Corporation (filed with the U.S. SEC), 2025

Every number

  • $6example (example number: Simplified example: one six-dollar drink. Real prices vary by drink, size and city.) · Simplified example: one six-dollar drink. Real prices vary by drink, size and city.
  • 45.9%sec.gov ·2025 · Store operating expenses as a share of total net revenues, fiscal 2025, as printed in the MD&A.
  • 55.5%sec.gov ·2025 · Store operating expenses as a share of company-operated store revenue, fiscal 2025, as printed in the MD&A.
  • $2.75example (example number: Worked out: our example six-dollar drink times Starbucks' store operating expenses as a share of total net revenues, fiscal 2025. Rounded to the cent.) · Worked out: our example six-dollar drink times Starbucks' store operating expenses as a share of total net revenues, fiscal 2025. Rounded to the cent.
  1. Lessons›
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  • ·Before this: How Starbucks is organized
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  • ·Free guide: How Starbucks makes money
Skip to the lesson
Back to the home page and map, from TryOwning · Starbucks · Lesson 3
Part 1 of 3Part 1 of 3, 0 done

Starbucks · 2025 report · 12 min

What's in a six-dollar latte?

You hand over six dollars. Before Starbucks keeps a cent, who else gets paid?

COFFEE$
Ticket 01 · The guess

The biggest bite

Starbucks' Form 10‑K shows each of its costs as a share of its revenue. For every dollar Starbucks took in during fiscal 2025, its business year that ended in September 2025, what share went to running its own stores: baristas' pay, rent, marketing and the rest? (A share of a dollar is cents: ten percent is ten cents.)

15%
0%100%
Words to know

Spot something wrong?

Tell us what looks off. No name or email needed.

What kind of problem?

0 / 1000

We'll also send this page, the lesson, ticket 1, so we can find it. Nothing else. Privacy

·
Sources and every number (1)

Sources

  • Starbucks Corporation Form 10-K for the fiscal year ended September 28, 2025 · Starbucks Corporation (filed with the U.S. SEC), 2025

Every number

  • $6example (example number: Simplified example: one six-dollar drink. Real prices vary by drink, size and city.) · Simplified example: one six-dollar drink. Real prices vary by drink, size and city.
  • 45.9%sec.gov ·2025 · Store operating expenses as a share of total net revenues, fiscal 2025, as printed in the MD&A.
  • 55.5%sec.gov ·2025 · Store operating expenses as a share of company-operated store revenue, fiscal 2025, as printed in the MD&A.
  • $2.75example (example number: Worked out: our example six-dollar drink times Starbucks' store operating expenses as a share of total net revenues, fiscal 2025. Rounded to the cent.) · Worked out: our example six-dollar drink times Starbucks' store operating expenses as a share of total net revenues, fiscal 2025. Rounded to the cent.
  1. Lessons›
  2. Big companies›
  3. Starbucks
  • ·Before this: How Starbucks is organized
  • ·Next: Starbucks in China
  • ·Free guide: How Starbucks makes money