Here are the 10-K annual reports from Starbucks Corp (SBUX) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow SBUX and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SBUX filings page.
Starbucks Corporation moved its China retail operations to a licensed joint-venture model in the third quarter of fiscal 2026, transferring 7,991 company-operated coffeehouses to licensed operations through its joint venture with Boyu Capital. As of September 27, 2026, Starbucks had 13,397 company-operated coffeehouses and 28,210 licensed coffeehouses, 41,607 total. During fiscal 2026, 266 and 250 coffeehouses were closed under restructuring plans announced in the fourth quarters of fiscal 2025 and fiscal 2026, respectively.
Company-operated coffeehouses accounted for 82% of fiscal 2026 net revenues, and licensed coffeehouses accounted for 12%. North America generated 76% of total net revenues, International 18%, and Channel Development 6%. Starbucks says the China transition replaced recording the operations’ revenues and expenses with its share of joint-venture income under the equity method of accounting, and expects the change to result in lower revenues and higher operating margin than the historical company-operated model.
Starbucks Corporation (SBUX) filed its Annual Report (Form 10‑K) for fiscal year ended September 28, 2025. The company operates in 89 markets with three segments: North America, International, and Channel Development. Segment revenue mix for fiscal 2025 was North America 74%, International 21%, and Channel Development 5%.
Starbucks reported 40,990 total stores, including 21,514 company‑operated and 19,476 licensed locations. Revenue from company‑operated stores accounted for 83% of total net revenues. As part of its “Back to Starbucks” strategy, the company announced a restructuring plan in the fourth quarter of fiscal 2025, which included closing 627 stores that did not meet brand and financial criteria.
As of March 30, 2025, the aggregate market value of common stock held by non‑affiliates was $111.0 billion. As of November 7, 2025, common shares outstanding were 1,137.1 million. Starbucks employed approximately 381,000 people worldwide, with about 223,000 in the U.S., and partners in approximately 6% of U.S. company‑operated stores represented by unions.