Starbucks Corporation
SBUX · scored from FY2025 filings · Narrow moat
On the watchlist
The four filters
Pricing power97
Median gross margin 67.9% over 4y, very stable.
Returns on capital100
Median ROIC 93.3%, above the 9% hurdle in 100% of years.
Balance-sheet safety26
Net debt/EBITDA 2.7x, interest coverage 5x.
Capital discipline42
Owner earnings -4.5%/yr, share count shrinking (buybacks).
Margin of safety
Above valueOn sale
- Owner earnings (normalized)
- $3.8B
- Est. intrinsic value / share
- $36.76
- Recent price
- —
- Discount to value
- No price data
Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).
Moat Score history
Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.