Starbucks FY2026: comps up 6.2%, non-GAAP EPS $2.72, FY27 guide $3.15-$3.25
Starbucks closed fiscal 2026 with global comparable sales up 6.2% and non-GAAP EPS of $2.72, up 27.7%, and guided fiscal 2027 non-GAAP EPS to $3.15–$3.25. The catch is revenue: management expects it to fall about 1% as China moves to a licensed model. Read the year on a non-GAAP basis, because a $536.3 million China divestiture gain and a 34.2% GAAP tax rate distort the reported figures.
1 · Expected vs. Actual
Free preview belowGAAP EPS of $2.21 rose 35.6% and non-GAAP EPS of $2.72 rose 27.7%. GAAP leans on the $536.3 million pre-tax China divestiture gain, and the GAAP tax rate jumped to 34.2% from 25.9%, so neither number is clean. In Q4, GAAP EPS of $0.59 sits below the $0.73 consensus while non-GAAP EPS of $0.80 sits above it.
Full-year revenue rose 2.0% to $37.91 billion, or 2.1% in constant currency. The fourth quarter fell 4.5% to $9.14 billion because China's retail stores converted to a licensed joint venture, shifting sales from company-operated revenue into product sales and royalties. North America carried the year: Q4 segment revenue rose 6.2% to $7.33 billion on 7.9% comparable sales, while International dropped 36.9% to $1.31 billion for the same China reason.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-13
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