• @[email protected]
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    10 months ago

    The glaring error is this screenshot is listing an income figure that is comparable to the 2022 total revenues in the 2022 fiscal report.

    https://www.macrotrends.net/stocks/charts/SBUX/starbucks/ebitda

    It looks like Starbucks 2023 EBITDA was $7.3 Billion and the net income was $4.1 Billion.

    The post makes a good point, but uses garbage data. Why do they do this? Although an $11,000 raise would elliminate the actual net earnings figure.

    • admiralteal
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      10 months ago

      There it is. I kept finding investor reports claiming the same 25 bil number as the net profit, but that’s just goofy if their actual bottom-line was under 5.

      And that $11,000 figure is now about 6x too big. Meaning we’re talking about a less than a dollar raise. Not to even mention ebida is STILL more than bottom-line profits.

      • @[email protected]
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        510 months ago

        From their press release website, $36 biliion consolidated net revenue reported at a 16% profit margin for fiscal year 2023 leaves $5.76 billion after every expense has been deducted.

          • @yacht_boy
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            210 months ago

            First, that assumes the company makes no profit at all. Not a sustainable way to keep a company in business. If they go out of business, 400,000 people lose their jobs and a whole lot of them lose their health insurance. Starbucks is pretty well known for being generous with their benefits.

            Second, wages are typically only about 2/3 or even less of the total compensation, and don’t account for the employer’s share of payroll taxes.

            So figure that you think Starbucks should make half their current profits and give the other half to their employees. That puts it at $6250 per employee, which would likely translate to about $4000/ year before the employees’ portion of taxes, or about a $2/hour raise. Which would be great for employees making maybe $30k/year, but is not exactly going to vault them into the middle class.

    • @[email protected]
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      2010 months ago

      Why do they do this?

      Incredibly frustrating.

      Should we form an eat the rich union, obviously.

      Is sharing garbage data on social media the way to get there, no! Real data (like on wealth concentration) is offensive enough!

    • @isles
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      10 months ago

      It appears they’ve done ~$670MM of stock buybacks this year as well (after a ton of press coverage last year saying they were stopping stock buybacks), which would have been net income.