Overview: Starbucks delivered QQ1 2025 revenue of $9.3978 billion, up 3.12% year over year, reflecting ongoing demand and price realignment. However, gross profit declined 9.54% YoY to $2.3011 billion, driving a drop in gross margin to approximately 24.49%. Operating income fell 26.08% YoY to $1.1217 billion, and net income declined 25.98% YoY to $0.7808 billion, with EPS of $0.69, down 25.81% from the prior year. EBITDA stood at $1.5817 billion, and the EBITDARatio was 0.168. The company generated $2.072 billion in cash from operations and $1.3791 billion in free cash flow, while capex totaled about $692.9 million. Starbucks ended the period with a cash balance of $3.6714 billion and net debt of approximately $22.20 billion, against total debt of $25.87 billion. The balance sheet shows total assets of $31.893 billion versus total liabilities of $39.358 billion and negative stockholders’ equity of about -$7.4717 billion, highlighting a leveraged capital structure with substantial intangible assets and goodwill.