Starbucks Corporation Valuation Date 11th Feb 2025

(in USD millions)

Segment Information 12 months 12 months 12 months 12 months
Sep 30, 2020 Sep 30, 2021 Sep 30, 2022 Sep 30, 2023

North America 16,296 20,448 23,371 26,570

Growth% -10% 25% 14% 14%
Median
Assuming increasing Low to mid-single-digit gradual growth

International 5,231 6,922 6,940 7,488

Growth% -17% 32% 0% 8%
Median
Assuming increasing Low to mid-single-digit gradual growth

Channel Development 1,925 1,594 1,844 1,894

Growth% -3% -17% 16% 3%
Median
Assuming increasing Low to mid-single-digit gradual growth

Corporate And Other 66 98 96 25

Growth% 0% 47% -2% -74%
Median
Assuming increasing Low to mid-single-digit gradual growth
Total revenue excluding Elimitation 23,518.00 29,060.60 32,250.30 35,975.60
24% 11% 12%

Source Historical 10Ks and MD&A of FY'2024

 12 months 12 months 12 months 12 months 12 months 12 months 12 Months
Sep 30, 2024 Sep 30, 2025 Sep 30, 2026 Sep 30, 2027 Sep 30, 2028 Sep 30, 2029 Sep 30, 2030

27,010 28,198 30,285 33,010 37,528 42,665 48,505

2%
13.69%
4% 7% 9%

7,339 7,486 7,935 8,530 8,553 8,576 8,599

-2%
0%
2% 6% 8%

1,770 1,796 1,868 1,999 1,931 1,866 1,802

-7%
-3%
2% 4% 7%

58 60 63 67 67 67 67
136%
0%
3% 5% 7%
36,176.20 37,539.68 40,150.31 43,606.20 48,079.24 53,173.04 58,972.19
1% 4% 7% 9% 10% 11% 11%
Starbucks Corporation
(in USD million except per Share Data)
Income Statement 12 months 12 months 12 months
Sep 30, Sep 30, Sep 30,
2020 2021 2022
Net revenues 23,518.00 29,060.60 32,250.30

Product and distribution costs (COGS) 7,694.90 8,738.70 10,317.40

Gross Profit 15,823.10 20,321.90 21,932.90

Store operating expenses 10,764.00 11,930.90 13,561.80

Other operating expenses 430.3 359.5 461.5
General and administrative expenses 1,679.60 1,932.60 2,032.00
Restructuring and impairments 278.7 170.4 46
Total operating expenses 13,152.60 14,393.40 16,101.30
EBIDTA 2,670.50 5,928.50 5,831.60

Depreciation and amortization expenses 1,431.30 1,441.70 1,447.90

Income from equity investees 322.5 385.3 234.1
Gain from sale of assets 0 0 0
EBIT 1,561.70 4,872.10 4,617.80

Net gain resulting from divestiture of certain operations 0 864.5 0

Interest income and other, net 39.7 90.1 97
Interest expense (437) (470) (483)
Earnings before income taxes 1,164.40 5,356.90 4,231.90
Income tax expense 239.7 1,156.60 948.5
Net earnings including noncontrolling interests 924.7 4,200.30 3,283.40
Net earnings/(loss) attributable to noncontrolling interests (4) 1 2
Net earnings attributable to Starbucks 928.3 4,199.30 3,281.60

Cash Dividends Paid 1923.5 2,119.00 2,263.30

Repurchase of Common Stock 1698.9 0.00 4,013.00
Total 3622.4 2,119.00 6,276.30
390% 50% 191%
207% 50% 69%

Retention Ratio
ROE
Earnings per share — basic 0.79 3.57 2.85
Earnings per share — diluted 0.79 3.54 2.83
Weighted average shares outstanding:
Basic 1,172.80 1,177.60 1,153.30
Diluted 1,181.80 1,185.50 1,158.50
Non-Controlling Interests -0.389% 0.024% 0.055%

COGS % 32.7% 30.1% 32.0%

Product and distribution costs Average %

Store operating expenses % 46% 41% 42%

Average
Other operating expenses % 2% 1% 1%
Average
General and administrative expenses % 7.1% 6.7% 6.3%
Average
Restructuring and impairments % 1.19% 0.59% 0.14%
Average

Income Tax percentage 20.6% 21.6% 22.4%

Income from Equity Investees 1.37% 1.33% 0.73%

Average

Interest income and other, net 3.41% 1.68% 2.29%

Average
12 months 12 months 12 months 12 months 12 months 12 months 12 months 12 Months
Sep 30, Sep 30, Sep 30, Sep 30, Sep 30, Sep 30, Sep 30, Sep 30,
2023 2024 2025 2026 2027 2028 2029 2030
35,975.60 36,176.20 37,540 40,150 43,606 48,079 53,173 58,972

11,409.10 11,180.60 11,818 12,639 13,727 15,135 16,739 18,565

24,566.50 24,995.60 25,722 27,511 29,879 32,944 36,434 40,408

14,720.30 15,286.50 15,921 17,028 18,493 20,390 22,551 25,010

539.4 565.6 568 607 659 727 804 892
2,441.30 2,523.30 2,542 2,718 2,952 3,255 3,600 3,993
21.8 0 54 57 62 69 76 84
17,722.80 18,375.40 19,083 20,411 22,167 24,441 27,031 29,979
6,843.70 6,620.20 6,639 7,100 7,712 8,503 9,403 10,429

1,362.60 1,512.60 1,579 1,676 1,820 2,006 2,218 2,461

298.4 301.2 382 408 443 489 541 600
91.3 0 - - - - - -
5,870.80 5,408.80 5,441 5,832 6,335 6,985 7,726 8,568

0 0 - - - - - -
81.2 122.8 113 123 136 152 170 191
(550) (562) (593) (546) (486) (427) (405) (339)
5,401.90 4,969.60 4,961 5,409 5,985 6,711 7,491 8,421
1,277.20 1,207.30 1,116 1,217 1,347 1,510 1,686 1,895
4,124.70 3,762.30 3,844 4,192 4,638 5,201 5,805 6,526
0 1 1 1 1 1 1 2
4,124.50 3,760.90 3,844 4,191 4,637 5,200 5,804 6,524

2,431.80 2,585.00 1921.76798 2095.49096 2318.49043 2599.83751 2901.76046 3261.99194

989.40 1,266.70
3,421.20 3,851.70
83% 102%
59% 69%
50% 69%
31%

3.6 3.32
3.58 3.31

1,146.80 1,133.80
1,151.30 1,137.30
0.005% 0.037%
0.0238%
31.7% 30.9%
31.5%

41% 42%
42%
1% 2%
1.5%
6.8% 7.0%
6.8%
0.06% 0.00%
0.14% 0.39%

23.6% 24.3%
22.5%
0.83% 0.83%
0.83% 1.02%

1.50% 2.47%
2.27%
Starbucks Corporation
(in USD million except per Share Data)
Property, Plant & Equipment 12 Months 12 Months 12 Months
Sep 30, 2020 Sep 30, 2021 Sep 30, 2022

Opening Balance 6,432 6,241 6,370

Add: Net Addition during the Period 1,017 1,346 1,446
Total Depreciable Assets During the Year 7,449 7,588 7,816
Less: Depreciation during the year 1,208 1,218 1,255
Closing Balance-WDV 6,241 6,370 6,561
Source
Total Depreciation and Amortization 1,431 1,442 1,448
PPE Turnover Ratio 3.16 3.83 4.13

Depreciation Rate 16.2% 16.1% 16.1%

Finite Lived Intangible Assets, net 12 Months 12 Months 12 Months

Sep 30, 2020 Sep 30, 2021 Sep 30, 2022

Opening Balance-WDV 578.40 457.10 253.50

Net Sale/Purchase during the Period 102.40 19.80 -2.40
Total Amortizable Assets During the Year 680.80 476.90 251.10
Less: Amortisation during the year 223.70 223.40 192.70
Closing Balance-WDV 457.10 253.50 58.40
Indefinite Lived Intangible Assets 95.00 96.40 97.50
Total Other Intangible Assets 552.10 349.90 155.90

Source
Amortisation Rate
 $

12 Months 12 Months 12 Months 12 Months 12 Months 12 Months 12 Months

Sep 30, 2023 Sep 30, 2024 Sep 30, 2025 Sep 30, 2026 Sep 30, 2027 Sep 30, 2028 Sep 30, 2029

6,561 7,387 8,666 8,420 9,006 9,781 10,784

2,168 2,771 1,320 2,260 2,594 3,008 3,360
8,728 10,158 9,986 10,680 11,599 12,789 14,144
1,341 1,492 1,565 1,674 1,818 2,005 2,217
7,387 8,666 8,420 9,006 9,781 10,784 11,927

1,363 1,512.6 1,579 1,676 1,820 2,006 2,218

4.12 3.56 3.76

15.4% 14.7% 16%

12 Months 12 Months 12 Months 12 Months 12 Months 12 Months 12 Months

Sep 30, 2023 Sep 30, 2024 Sep 30, 2025 Sep 30, 2026 Sep 30, 2027 Sep 30, 2028 Sep 30, 2029

58.40 41.10 21.40 7.40 5.30 3.50 2.30

4.20 0.70 0.00 0.00 0.00 0.00 0.00
62.60 41.80 21.40 7.40 5.30 3.50 2.30
21.50 20.40 14.00 2.10 1.80 1.20 0.80
41.10 21.40 7.40 5.30 3.50 2.30 1.50
79.40 79.50 79.50 79.50 79.50 79.50 79.50
120.50 100.90 86.90 84.80 83.00 81.80 81.00
 12 Months
Sep 30, 2030

11,927
3,760
15,687
2,459
13,228

2,461

12 Months
Sep 30, 2030

1.50
0.00
1.50
1.50
0.00
79.50
79.50
Starbucks Corporation
(in USD million except Interest Rates )

Mandatory Debt Repayment Date Interest Rate Effective Interest Rate

August 2025 notes 9/30/2025 3.80% 3.72%

February 2026 notes 9/30/2026 4.75% 4.79%
June 2026 notes 9/30/2026 2.45% 2.51%
February 2027 notes 9/30/2027 4.85% 4.96%
March 2027 notes 9/30/2027 2.00% 2.06%
March 2028 notes 9/30/2028 3.50% 3.53%
November 2028 notes 9/30/2029 4.00% 3.96%

August 2029 notes^{(2)} 9/30/2029 3.55% 3.84%

March 2030 notes 9/30/2030 2.25% 3.08%
November 2030 notes 9/30/2031 2.55% 2.58%
February 2031 notes 9/30/2031 4.90% 5.05%
February 2032 notes 9/30/2032 3.00% 3.15%
February 2033 notes 9/30/2033 4.80% 3.80%
February 2034 notes 9/30/2034 5.00% 5.13%
June 2045 notes 9/30/2045 4.30% 4.35%
December 2047 notes 9/30/2048 3.75% 3.77%
November 2048 notes 9/30/2049 4.50% 4.50%
August 2049 notes 9/30/2049 4.45% 4.45%
March 2050 notes 9/30/2050 3.35% 3.36%
November 2050 notes 9/30/2051 3.50% 3.53%
Total
Aggregate debt issuance costs and
unamortized premium/(discount), net
Hedge accounting fair value
adjustment^{(2)}
Total
 12 months
Average Rate Balance As on 30 Sep 2024 INTEREST Particulars
30-Sep-25
3.76% 1250 47 OPENING BAL 15,568
4.77% 1000 48 DEBT TAKEN 0
2.48% 500 12 DEBT REPAID 1250
4.90% 1000 49 CLOSING BAL 14,318
2.03% 500 10
3.51% 600 21
3.98% 750 30 LONG TERM 12,818

Current Portion
of Long-Term
3.70% 1000 37 Debt 1500
2.67% 750 20
2.57% 1250 32
4.97% 500 25 INTEREST 592.82
3.08% 1000 31
4.30% 500 21
5.06% 500 25
4.32% 350 15
3.76% 500 19
4.50% 1000 45
4.45% 1000 44
3.36% 500 17
3.51% 1250 44
15700

-113.8

-17.8
15568.4
12 months 12 months 12 months 12 months 12 Months
30-Sep-26 30-Sep-27 30-Sep-28 30-Sep-29 30-Sep-30
14,318 12,818 11,318 10,718 8,968
0 0 0 0 0
1500 1500 600 1750 750
12,818 11,318 10,718 8,968 8,218

11,318 10,718 8,968 8,218 8,218

1500 600 1750 750 0

545.82 485.73 426.54 405.45 338.66

Starbucks Corporation
(in USD million except per Share Data)
Balance Sheet as of:
Sep 27, 2020
ASSETS
Current assets:
Cash and cash equivalents 4,350.90
Short-term investments 281.20
Accounts receivable, net 883.40
Inventories 1,551.40
Prepaid expenses and other current assets 739.50
Total current assets 7,806.40

Long-Term Assets :
Long-term investments 206.10
Equity investments 478.70
Property, plant and equipment, net 6,241.40
Operating lease, right-of-use asset 8,134.10
Deferred income taxes, net 1,789.90
Other long-term assets 568.60
Other intangible assets 552.10
Goodwill 3,597.20
Total Long-term Assets 21,568.10
TOTAL ASSETS 29,374.50

LIABILITIES AND SHAREHOLDERS’ EQUITY/(DEFICIT)

Current liabilities:
Accounts payable 997.90
Accrued liabilities 1,160.70
Accrued payroll and benefits 696.00
Income taxes payable 98.20
Current portion of operating lease liability 1,248.80
Stored value card liability and current portion of deferred revenue 1,456.50
Short-term debt 438.80
Current portion of long-term debt 1,249.90
Total current liabilities 7346.8

Long Term Liabilities

Long-term debt 14,659.60
Operating lease liability 7,661.70
Deferred revenue 6,598.50
Other long-term liabilities 907.30
Total Long-term Liabilities 29,827.10
Total liabilities 37,173.90

Shareholders’ deficit:
 Common stock ($0.001 par value) — authorized, 2,400.0 shares; issued and
outstanding, 1,133.5 and
1,142.6 shares, respectively 1.20
Additional paid-in capital 373.90
Retained deficit -7,815.60
Accumulated other comprehensive income/(loss) -364.60
Total shareholders’ deficit -7805.1
Noncontrolling interests 5.70
Total deficit -7799.4

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY/(DEFICIT) 29,374.50

Checksum 0.00

Revenue 23,518.00
ARTR 26.62
DSO 14

COGS 7694.90
APTR 8
DPO 47.3

Inventory Turnover Ratio 5

DIO 74 days
Oct 3, 2021 Oct 2, 2022 Oct 1, 2023 Sep 29, 2024 Sep 30, 2025 Sep 30, 2026 Sep 30, 2027

6,455.70 2,818.40 3,551.50 3,286.20 3,778.87 3,664.29 3,541.60

162.20 364.50 401.50 257.00 257.00 257.00 257.00
940.00 1,175.50 1,184.10 1,213.80 1,297.56 1,387.79 1,507.24
1,603.90 2,176.60 1,806.40 1,777.30 2,158.86 2,308.99 2,507.73
594.60 483.70 359.90 313.10 313.10 313.10 313.10
9,756.40 7,018.70 7,303.40 6,847.40 7,805.38 7,931.17 8,126.68

281.70 279.10 247.40 276.00 276.00 276.00 276.00

268.50 311.20 439.90 463.90 463.90 463.90 463.90
6,369.50 6,560.50 7,387.10 8,665.50 8,420.30 9,005.87 9,781.04
8,236.00 8,015.60 8,412.60 9,286.20 9,286.20 9,286.20 9,286.20
1,874.80 1,799.70 1,769.80 1,766.70 1,766.70 1,766.70 1,766.70
578.50 554.20 546.50 617.00 617.00 617.00 617.00
349.90 155.90 120.50 100.90 86.90 84.80 83.00
3,677.30 3,283.50 3,218.30 3,315.70 3,315.70 3,315.70 3,315.70
21,636.20 20,959.70 22,142.10 24,491.90 24,232.70 24,816.17 25,589.54
31,392.60 27,978.40 29,445.50 31,339.30 32,038.08 32,747.34 33,716.22

1,211.60 1,441.40 1,544.30 1,595.50 1,621.60 1,734.37 1,883.65

1,973.20 2,137.10 2,145.10 2,194.70 2,194.70 2,194.70 2,194.70
772.30 761.70 828.30 786.60 786.60 786.60 786.60
348.00 0.00 0.00 0.00 0.00 0.00 0.00
1,251.30 1,245.70 1,275.30 1,463.10 1,463.10 1,463.10 1,463.10
1,596.10 1,641.90 1,700.20 1,781.20 1,781.20 1,781.20 1,781.20
0.00 175.00 33.50 0 0.00 0.00 0.00
998.90 1,749.00 1,818.60 1,248.90 1,500.00 1,500.00 600.00
8151.4 9151.8 9345.3 9070 9,347.20 9,459.97 8,709.25

13,616.90 13,119.90 13,547.60 14,319.50 12,818.40 11,318.40 10,718.40

7,738.00 7,515.20 7,924.80 8,771.60 8,771.60 8,771.60 8,771.60
6,463.00 6,279.70 6,101.80 5,963.60 5,963.60 5,963.60 5,963.60
737.80 610.50 513.80 656.20 656.20 656.20 656.20
28,555.70 27,525.30 28,088.00 29,710.90 28,209.80 26,709.80 26,109.80
36,707.10 36,677.10 37,433.30 38,780.90 37,557.00 36,169.77 34,819.05
 1.20 1.10 1.10 1.10 1.10 1.10 1.10
846.10 205.30 38.10 322.60 322.60 322.60 322.60
-6,315.70 -8,449.80 -7,255.80 -7,343.80 -5,422.03 -3,326.54 -1,008.05
147.20 -463.20 -778.20 -428.80 -428.80 -428.80 -428.80
-5321.2 -8706.6 -7994.8 -7448.9 -5,527.13 -3,431.64 -1,113.15
6.70 7.90 7.00 7.30 8.22 9.21 10.32
-5314.5 -8698.7 -7987.8 -7441.6 -5,518.92 -3,422.43 -1,102.83

31,392.60 27,978.40 29,445.50 31,339.30 32,038.08 32,747.34 33,716.22

0.00 0.00 0.00 0.00 0.00 0.00 0.00

29,060.60 32,250.30 35,975.60 36,176.20 37,539.68 40,150.31 43,606.20

30.92 27.44 30.38 29.80
12 13 12 12
Historical Average DSO = 13

8738.70 10317.40 11409.10 11180.60 11,817.56 12,639.39 13,727.30

7 7 7 7
50.6 51.0 49.4 52.1
Historical Average DPO = 50

5 5 6 6
67 days 77 days 58 days 58 days
Historical Average DIO = 66.68
Sep 30, 2028 Sep 30, 2029 Sep 30, 2030

4,321.93 4,084.34 5,015.17

257.00 257.00 257.00
1,661.86 1,837.92 2,038.37
2,764.97 3,057.91 3,391.41
313.10 313.10 313.10
9,318.85 9,550.27 11,015.05

276.00 276.00 276.00

463.90 463.90 463.90
10,784.36 11,926.92 13,227.69
9,286.20 9,286.20 9,286.20
1,766.70 1,766.70 1,766.70
617.00 617.00 617.00
81.80 81.00 79.50
3,315.70 3,315.70 3,315.70
26,591.66 27,733.42 29,032.69
35,910.51 37,283.69 40,047.74

2,076.87 2,296.91 2,547.41

2,194.70 2,194.70 2,194.70
786.60 786.60 786.60
0.00 0.00 0.00
1,463.10 1,463.10 1,463.10
1,781.20 1,781.20 1,781.20
0.00 0.00 0.00
1,750.00 750.00 0.00
10,052.47 9,272.51 8,773.01

8,968.40 8,218.40 8,218.40

8,771.60 8,771.60 8,771.60
5,963.60 5,963.60 5,963.60
656.20 656.20 656.20
24,359.80 23,609.80 23,609.80
34,412.27 32,882.31 32,382.81
 1.10 1.10 1.10
322.60 322.60 322.60
1,591.79 4,493.55 7,755.54
-428.80 -428.80 -428.80
1,486.69 4,388.45 7,650.44
11.56 12.94 14.49
1,498.24 4,401.39 7,664.93

35,910.51 37,283.69 40,047.74

0.00 0.00 0.00

48,079.24 53,173.04 58,972.19

15,135.42 16,738.96 18,564.54

Starbucks Corporation
(in USD million except per Share Data)
12 Months
Cash Flow Statement
Sep 30, 2025
OPERATING ACTIVITIES:
Net earnings including noncontrolling interests 3,844
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization 1,579
Interest Expense 593
Cash provided by/(used in) changes in operating assets and liabilities:
Accounts receivable (84)
Inventories (382)
Accounts payable 26
Net cash provided by operating activities 5,577

INVESTING ACTIVITIES:
Additions to property, plant and equipment (1,320)
Proceeds from sale of assets -
Net cash used in investing activities (1,320)

FINANCING ACTIVITIES:
Interest Expense (593)
Repayments of short-term debt -
Repayments of long-term debt (1,250)
Cash dividends paid (1,922)
Repurchase of common stock -
Net cash used in financing activities -3,765
Net increase/(decrease) in cash and cash equivalents 493
CASH AND CASH EQUIVALENTS:
Beginning of period 3,286.20
End of period 3,778.87
 12 Months 12 Months 12 Months 12 Months 12 Months
Sep 30, 2026 Sep 30, 2027 Sep 30, 2028 Sep 30, 2029 Sep 30, 2030

4,192 4,638 5,201 5,805 6,526

1,676 1,820 2,006 2,218 2,461

546 486 427 405 339

(90) (119) (155) (176) (200)

(150) (199) (257) (293) (334)
113 149 193 220 251
6,287 6,775 7,415 8,180 9,041

(2,260) (2,594) (3,008) (3,360) (3,760)

- - - - -
(2,260) (2,594) (3,008) (3,360) (3,760)

(546) (486) (427) (405) (339)

- - - - -
(1,500) (1,500) (600) (1,750) (750)
(2,095) (2,318) (2,600) (2,902) (3,262)
- - - - -
-4,141 -4,304 -3,626 -5,057 -4,351
-115 -123 780 -238 931

3,778.87 3,664.29 3,541.60 4,321.93 4,084.34

3,664.29 3,541.60 4,321.93 4,084.34 5,015.17
Starbucks Corporation
(in USD million except per Share Data)

Weight of Debt & Equity (Target Capital Structure)

As on 11-02-2025

Competitors Debt Equity Debt% Equity %

McDonald's Corporation 39195 221,632.99 15.03% 84.97%
Chipotle Mexican Grill 4541 76,142.83 5.63% 94.37%
Yum! Brands Inc 12290 40,930.30 23.09% 76.91%
Darden Restaurants 1370 23,079.62 5.60% 94.40%
Industry Median 10.33% 89.67%
Starbucks 25820 125,885.81 17.02% 82.98%

As on : 11-02-2025
Risk Free Rate 4.536%
S&P Rating for Starbucks BBB+
Credit default Spread % 1.20%

Cost of Debt (Rating Method) 5.74%

ERP ( Historical) 7.15%

ERP(Rating Method) 4.12%
Bottom-Up Beta 0.75
Cost of Equity 7.65% rf+beta*ERP
Cost of Equity (Historical) 9.93%

WACC wd*(1-t)*rd+we*re
Wd 10.33%
Tax 21%
Rd 5.74%
We 89.67%
Re 7.65%
WACC 7.32%
Starbucks Corporation
(in USD million except per Share Data)

As on: 11-02-2025
Company Regression Beta
McDonald's Corporation 0.58
Chipotle Mexican Grill 1.10
Yum! Brands Inc 0.63
Darden Restaurants 0.74
Restaurants Brands Int 0.54
S&P 500 1.00
Starbucks Corp 0.94

Beta 0.94 $ 0.58

Starbucks Corporation McDonald's Corporation

Date Price %Change Date Price %Change
9/2/2025 112.12 -0.07% 9/2/2025 309.64 5.21%
2/2/2025 112.2 4.20% 2/2/2025 294.3 1.94%
01/26/2025 107.68 8.98% 01/26/2025 288.7 1.14%
01/19/2025 98.81 3.87% 01/19/2025 285.46 1.61%
12/1/2025 95.13 3.12% 12/1/2025 280.95 -0.48%
5/1/2025 92.25 -0.36% 5/1/2025 282.31 -4.23%
12/29/2024 92.58 0.36% 12/29/2024 294.78 0.40%
12/22/2024 92.25 4.87% 12/22/2024 293.62 0.32%
12/15/2024 87.97 -9.70% 12/15/2024 292.68 -1.32%
8/12/2024 97.42 -2.69% 8/12/2024 296.6 -0.80%
1/12/2024 100.11 -2.29% 1/12/2024 298.98 1.00%
11/24/2024 102.46 -0.04% 11/24/2024 296.01 1.97%
11/17/2024 102.5 4.15% 11/17/2024 290.28 -0.80%
10/11/2024 98.42 0.89% 10/11/2024 292.63 -2.12%
3/11/2024 97.55 -1.34% 3/11/2024 298.97 1.27%
10/27/2024 98.87 1.60% 10/27/2024 295.21 0.89%
10/20/2024 97.31 0.49% 10/20/2024 292.61 -7.57%
10/13/2024 96.84 1.35% 10/13/2024 316.56 3.78%
6/10/2024 95.55 -1.07% 6/10/2024 305.04 0.42%
09/29/2024 96.58 -0.80% 09/29/2024 303.76 0.02%
09/22/2024 97.36 1.36% 09/22/2024 303.69 2.31%
09/15/2024 96.05 -2.56% 09/15/2024 296.83 0.10%
8/9/2024 98.57 8.14% 8/9/2024 296.53 2.42%
1/9/2024 91.15 -3.62% 1/9/2024 289.51 0.29%
08/25/2024 94.57 0.58% 08/25/2024 288.66 -0.30%
08/18/2024 94.02 -0.83% 08/18/2024 289.52 3.96%
11/8/2024 94.81 26.26% 11/8/2024 278.49 3.95%
4/8/2024 75.09 -1.04% 4/8/2024 267.91 -3.17%
07/28/2024 75.88 2.47% 07/28/2024 276.69 9.80%
07/21/2024 74.05 -6.59% 07/21/2024 252 -2.05%
07/14/2024 79.27 5.93% 07/14/2024 257.28 1.33%
7/7/2024 74.83 -1.60% 7/7/2024 253.9 1.12%
06/30/2024 76.05 -2.31% 06/30/2024 251.09 -1.47%
06/23/2024 77.85 -2.58% 06/23/2024 254.84 -1.75%
06/16/2024 79.91 0.33% 06/16/2024 259.39 2.29%
9/6/2024 79.65 -2.19% 9/6/2024 253.58 -1.03%
2/6/2024 81.43 1.51% 2/6/2024 256.21 -1.04%
05/26/2024 80.22 1.71% 05/26/2024 258.89 0.30%
05/19/2024 78.87 1.31% 05/19/2024 258.11 -5.24%
12/5/2024 77.85 2.29% 12/5/2024 272.38 -0.95%
5/5/2024 76.11 4.10% 5/5/2024 275 1.73%
04/28/2024 73.11 -17.16% 04/28/2024 270.32 -1.01%
04/21/2024 88.25 0.73% 04/21/2024 273.09 0.40%
04/14/2024 87.61 3.17% 04/14/2024 271.99 1.72%
7/4/2024 84.92 -2.22% 7/4/2024 267.39 0.26%
03/31/2024 86.85 -4.97% 03/31/2024 266.69 -5.41%
03/24/2024 91.39 0.75% 03/24/2024 281.95 -0.24%
03/17/2024 90.71 0.65% 03/17/2024 282.63 1.25%
10/3/2024 90.12 -1.03% 10/3/2024 279.14 -4.58%
3/3/2024 91.06 -2.25% 3/3/2024 292.55 0.63%
02/25/2024 93.16 -2.57% 02/25/2024 290.73 -2.36%
02/18/2024 95.62 2.57% 02/18/2024 297.75 1.96%
11/2/2024 93.22 -4.19% 11/2/2024 292.02 0.88%
4/2/2024 97.3 4.63% 4/2/2024 289.47 -2.55%
01/28/2024 92.99 0.20% 01/28/2024 297.05 1.64%
01/21/2024 92.8 -1.13% 01/21/2024 292.26 -2.75%
01/14/2024 93.86 2.04% 01/14/2024 300.53 2.41%
7/1/2024 91.98 -1.09% 7/1/2024 293.47 1.55%
12/31/2023 92.99 -3.15% 12/31/2023 288.99 -2.54%
12/24/2023 96.01 0.77% 12/24/2023 296.51 1.65%
12/17/2023 95.28 -1.52% 12/17/2023 291.7 1.54%
10/12/2023 96.75 0.14% 10/12/2023 287.27 0.61%
3/12/2023 96.61 -2.61% 3/12/2023 285.53 -0.15%
11/26/2023 99.2 -3.48% 11/26/2023 285.96 1.21%
11/19/2023 102.78 -2.64% 11/19/2023 282.54 2.46%
12/11/2023 105.57 1.19% 12/11/2023 275.75 2.97%
5/11/2023 104.33 1.64% 5/11/2023 267.79 -0.03%
10/29/2023 102.65 11.55% 10/29/2023 267.87 4.73%
10/22/2023 92.02 -2.30% 10/22/2023 255.76 -0.91%
10/15/2023 94.19 2.96% 10/15/2023 258.11 3.95%
8/10/2023 91.48 -1.48% 8/10/2023 248.31 0.04%
1/10/2023 92.85 1.73% 1/10/2023 248.22 -5.78%
09/24/2023 91.27 -2.57% 09/24/2023 263.44 -3.23%
09/17/2023 93.68 -2.65% 09/17/2023 272.22 -2.16%
10/9/2023 96.23 1.00% 10/9/2023 278.23 -0.35%
3/9/2023 95.28 -2.78% 3/9/2023 279.22 -0.61%
08/27/2023 98 2.64% 08/27/2023 280.94 -1.28%
08/20/2023 95.48 -1.80% 08/20/2023 284.58 1.01%
08/13/2023 97.23 -3.72% 08/13/2023 281.74 -2.38%
6/8/2023 100.99 0.31% 6/8/2023 288.62 0.56%
07/30/2023 100.68 -0.56% 07/30/2023 287.02 -2.38%
07/23/2023 101.25 -1.53% 07/23/2023 294.03 -0.53%
07/16/2023 102.82 1.19% 07/16/2023 295.61 0.23%
9/7/2023 101.61 5.79% 9/7/2023 294.94 0.97%
2/7/2023 96.05 -3.04% 2/7/2023 292.1 -2.11%
06/25/2023 99.06 0.73% 06/25/2023 298.41 2.93%
06/18/2023 98.34 -3.47% 06/18/2023 289.91 -1.29%
11/6/2023 101.87 3.99% 11/6/2023 293.7 2.41%
4/6/2023 97.96 -1.55% 4/6/2023 286.79 -1.08%
05/28/2023 99.5 0.98% 05/28/2023 289.91 1.35%
05/21/2023 98.53 -6.62% 05/21/2023 286.04 -3.22%
05/14/2023 105.51 -0.57% 05/14/2023 295.55 -0.20%
7/5/2023 106.12 -1.02% 7/5/2023 296.14 -0.16%
04/30/2023 107.21 -6.19% 04/30/2023 296.6 0.29%
04/23/2023 114.29 5.64% 04/23/2023 295.75 1.26%
04/16/2023 108.19 0.67% 04/16/2023 292.06 1.07%
9/4/2023 107.47 2.67% 9/4/2023 288.98 2.15%
2/4/2023 104.68 0.53% 2/4/2023 282.89 1.17%
03/26/2023 104.13 5.89% 03/26/2023 279.61 3.05%
03/19/2023 98.34 -0.36% 03/19/2023 271.33 1.55%
12/3/2023 98.7 -0.68% 12/3/2023 267.2 1.97%
5/3/2023 99.38 -4.95% 5/3/2023 262.03 -2.62%
02/26/2023 104.55 2.90% 02/26/2023 269.07 2.04%
02/19/2023 101.6 -5.14% 02/19/2023 263.68 -2.34%
12/2/2023 107.1 0.01% 12/2/2023 269.99 2.88%
5/2/2023 107.09 2.67% 5/2/2023 262.42 -0.69%
01/29/2023 104.3 -4.33% 01/29/2023 264.23 -3.02%
01/22/2023 109.02 3.79% 01/22/2023 272.46 1.44%
01/15/2023 105.04 -2.04% 01/15/2023 268.58 -0.12%
8/1/2023 107.23 0.51% 8/1/2023 268.89 -0.22%
1/1/2023 106.69 7.55% 1/1/2023 269.47 2.25%
12/25/2022 99.2 0.95% 12/25/2022 263.53 -1.51%
12/18/2022 98.27 -0.57% 12/18/2022 267.57 0.54%
11/12/2022 98.83 -2.91% 11/12/2022 266.12 -2.18%
4/12/2022 101.79 -3.10% 4/12/2022 272.04 -0.50%
11/27/2022 105.05 5.51% 11/27/2022 273.4 -0.58%
11/20/2022 99.56 1.64% 11/20/2022 275 0.60%
11/13/2022 97.95 0.59% 11/13/2022 273.37 0.73%
 6/11/2022 97.38 6.01% 6/11/2022 271.39 -1.18%
10/30/2022 91.86 5.46% 10/30/2022 274.62 0.04%
10/23/2022 87.1 -1.70% 10/23/2022 274.52 7.85%
10/16/2022 88.61 2.59% 10/16/2022 254.55 4.68%
9/10/2022 86.37 -0.76% 9/10/2022 243.16 4.28%
2/10/2022 87.03 3.29% 2/10/2022 233.19 1.06%
09/25/2022 84.26 0.11% 09/25/2022 230.74 -6.18%
09/18/2022 84.17 -7.82% 09/18/2022 245.95 -3.51%
11/9/2022 91.31 2.95% 11/9/2022 254.91 -1.78%
4/9/2022 88.69 6.93% 4/9/2022 259.52 1.97%
08/28/2022 82.94 -1.33% 08/28/2022 254.51 -0.95%
08/21/2022 84.06 -3.29% 08/21/2022 256.95 -3.60%
08/14/2022 86.92 -1.57% 08/14/2022 266.54 1.66%
7/8/2022 88.31 3.01% 7/8/2022 262.18 1.14%
07/31/2022 85.73 1.12% 07/31/2022 259.23 -1.57%
07/24/2022 84.78 1.42% 07/24/2022 263.37 3.69%
07/17/2022 83.59 4.99% 07/17/2022 253.99 -0.40%
10/7/2022 79.62 0.43% 10/7/2022 255.01 0.70%
3/7/2022 79.28 0.03% 3/7/2022 253.24 0.11%
06/26/2022 79.26 1.47% 06/26/2022 252.96 2.04%
06/19/2022 78.11 8.68% 06/19/2022 247.9 5.77%
12/6/2022 71.87 -5.02% 12/6/2022 234.38 -1.26%
5/6/2022 75.67 -4.28% 5/6/2022 237.38 -4.42%
05/29/2022 79.05 3.05% 05/29/2022 248.36 -1.39%
05/22/2022 76.71 4.52% 05/22/2022 251.87 7.68%
05/15/2022 73.39 -2.92% 05/15/2022 233.91 -4.54%
8/5/2022 75.6 -1.20% 8/5/2022 245.04 -2.29%
1/5/2022 76.52 2.52% 1/5/2022 250.78 0.65%
04/24/2022 74.64 -4.21% 04/24/2022 249.16 -0.40%
04/17/2022 77.92 -1.99% 04/17/2022 250.17 -0.14%
10/4/2022 79.5 -2.48% 10/4/2022 250.51 -0.38%
3/4/2022 81.52 -10.90% 3/4/2022 251.46 0.89%
03/27/2022 91.49 4.62% 03/27/2022 249.25 3.17%
03/20/2022 87.45 -2.40% 03/20/2022 241.58 1.11%
03/13/2022 89.6 8.30% 03/13/2022 238.92 5.31%
6/3/2022 82.73 -8.11% 6/3/2022 226.87 -3.79%
02/27/2022 90.03 -2.75% 02/27/2022 235.81 -5.47%
02/20/2022 92.58 -0.81% 02/20/2022 249.45 -0.46%
02/13/2022 93.34 -0.42% 02/13/2022 250.6 -1.79%
6/2/2022 93.73 -1.34% 6/2/2022 255.16 -1.88%
01/30/2022 95 -2.27% 01/30/2022 260.06 1.55%
01/23/2022 97.21 0.93% 01/23/2022 256.09 0.59%
01/16/2022 96.31 -3.81% 01/16/2022 254.59 -1.21%
9/1/2022 100.12 -6.93% 9/1/2022 257.71 -3.50%
2/1/2022 107.57 -8.04% 2/1/2022 267.06 -0.38%
12/26/2021 116.97 4.09% 12/26/2021 268.07 0.80%
12/19/2021 112.37 3.44% 12/19/2021 265.95 1.62%
12/12/2021 108.63 -6.94% 12/12/2021 261.7 -1.23%
5/12/2021 116.73 4.94% 5/12/2021 264.97 6.27%
11/28/2021 111.24 0.52% 11/28/2021 249.33 -0.27%
11/21/2021 110.66 -0.11% 11/21/2021 250.01 -0.77%
11/14/2021 110.78 -0.84% 11/14/2021 251.95 0.51%
7/11/2021 111.72 -4.44% 7/11/2021 250.67 -1.59%
10/31/2021 116.91 10.22% 10/31/2021 254.71 3.73%
10/24/2021 106.07 -7.40% 10/24/2021 245.55 2.98%
10/17/2021 114.55 2.78% 10/17/2021 238.44 -1.57%
10/10/2021 111.45 0.21% 10/10/2021 242.25 -2.20%
3/10/2021 111.22 -1.51% 3/10/2021 247.7 1.96%
09/26/2021 112.92 -1.04% 09/26/2021 242.93 -1.42%
09/19/2021 114.11 0.62% 09/19/2021 246.42 1.62%
12/9/2021 113.41 -4.97% 12/9/2021 242.49 1.38%
5/9/2021 119.34 1.83% 5/9/2021 239.18 0.15%
08/29/2021 117.19 1.80% 08/29/2021 238.82 0.56%
08/22/2021 115.12 0.43% 08/22/2021 237.48 -0.42%
08/15/2021 114.63 -1.82% 08/15/2021 238.49 -0.14%
8/8/2021 116.76 -1.92% 8/8/2021 238.82 1.08%
1/8/2021 119.05 -1.96% 1/8/2021 236.26 -2.66%
07/25/2021 121.43 -3.60% 07/25/2021 242.71 -0.10%
07/18/2021 125.97 6.10% 07/18/2021 242.96 3.50%
11/7/2021 118.73 1.07% 11/7/2021 234.75 -0.39%
4/7/2021 117.47 2.17% 4/7/2021 235.68 0.88%
06/27/2021 114.97 1.71% 06/27/2021 233.63 0.52%
06/20/2021 113.04 3.04% 06/20/2021 232.42 1.22%
06/13/2021 109.7 -2.54% 06/13/2021 229.62 -3.09%
6/6/2021 112.56 0.51% 6/6/2021 236.93 1.52%
05/30/2021 111.99 -1.66% 05/30/2021 233.38 -0.22%
05/23/2021 113.88 2.67% 05/23/2021 233.89 1.15%
05/16/2021 110.92 -0.25% 05/16/2021 231.24 -0.21%
9/5/2021 111.2 -2.75% 9/5/2021 231.72 -1.33%
2/5/2021 114.34 -0.13% 2/5/2021 234.84 -0.53%
04/25/2021 114.49 -2.61% 04/25/2021 236.08 0.64%
04/18/2021 117.56 -0.66% 04/18/2021 234.58 0.64%
11/4/2021 118.34 4.56% 11/4/2021 233.08 0.69%
4/4/2021 113.18 3.47% 4/4/2021 231.48 2.78%
03/28/2021 109.38 -0.47% 03/28/2021 225.21 0.00%
03/21/2021 109.9 3.35% 03/21/2021 225.21 1.25%
03/14/2021 106.34 -1.36% 03/14/2021 222.44 4.76%
7/3/2021 107.81 2.48% 7/3/2021 212.34 2.40%
02/28/2021 105.2 -2.62% 02/28/2021 207.37 0.60%
02/21/2021 108.03 4.51% 02/21/2021 206.14 -2.87%
02/14/2021 103.37 02/14/2021 212.24
 1.10 0.63 0.74

Chipotle Mexican Grill Yum! Brands Inc Darden Restaurants

Date Price %Change Date Price %Change Date
9/2/2025 57.65 0.66% 9/2/2025 148.08 3.15% 9/2/2025
2/2/2025 57.27 -1.85% 2/2/2025 143.56 10.01% 2/2/2025
01/26/2025 58.35 2.91% 01/26/2025 130.5 1.75% 01/26/2025
01/19/2025 56.7 -1.43% 01/19/2025 128.26 2.35% 01/19/2025
12/1/2025 57.52 1.81% 12/1/2025 125.32 1.68% 12/1/2025
5/1/2025 56.5 -5.36% 5/1/2025 123.25 -7.64% 5/1/2025
12/29/2024 59.7 -1.78% 12/29/2024 133.44 -1.32% 12/29/2024
12/22/2024 60.78 -1.76% 12/22/2024 135.23 2.17% 12/22/2024
12/15/2024 61.87 -4.21% 12/15/2024 132.36 -3.39% 12/15/2024
8/12/2024 64.59 -1.24% 8/12/2024 137 -0.46% 8/12/2024
1/12/2024 65.4 6.31% 1/12/2024 137.63 -0.94% 1/12/2024
11/24/2024 61.52 -0.79% 11/24/2024 138.94 2.71% 11/24/2024
11/17/2024 62.01 5.76% 11/17/2024 135.27 1.26% 11/17/2024
10/11/2024 58.63 -0.31% 10/11/2024 133.59 -2.64% 10/11/2024
3/11/2024 58.81 0.38% 3/11/2024 137.21 3.68% 3/11/2024
10/27/2024 58.59 -1.43% 10/27/2024 132.34 -0.53% 10/27/2024
10/20/2024 59.44 0.08% 10/20/2024 133.04 -0.92% 10/20/2024
10/13/2024 59.39 1.26% 10/13/2024 134.27 0.19% 10/13/2024
6/10/2024 58.65 2.70% 6/10/2024 134.02 -1.87% 6/10/2024
09/29/2024 57.11 -0.40% 09/29/2024 136.57 -2.39% 09/29/2024
09/22/2024 57.34 0.19% 09/22/2024 139.92 7.87% 09/22/2024
09/15/2024 57.23 1.98% 09/15/2024 129.71 -2.95% 09/15/2024
8/9/2024 56.12 4.55% 8/9/2024 133.65 -0.16% 8/9/2024
1/9/2024 53.68 -4.28% 1/9/2024 133.87 -0.78% 1/9/2024
08/25/2024 56.08 4.41% 08/25/2024 134.92 -0.44% 08/25/2024
08/18/2024 53.71 2.36% 08/18/2024 135.52 -1.37% 08/18/2024
11/8/2024 52.47 -5.54% 11/8/2024 137.4 0.45% 11/8/2024
4/8/2024 55.55 5.67% 4/8/2024 136.79 1.19% 4/8/2024
07/28/2024 52.57 5.50% 07/28/2024 135.18 5.57% 07/28/2024
07/21/2024 49.83 -6.93% 07/21/2024 128.05 0.88% 07/21/2024
07/14/2024 53.54 -7.16% 07/14/2024 126.93 -3.34% 07/14/2024
7/7/2024 57.67 -8.10% 7/7/2024 131.31 1.70% 7/7/2024
06/30/2024 62.75 0.16% 06/30/2024 129.12 -2.52% 06/30/2024
06/23/2024 62.65 -2.43% 06/23/2024 132.46 -1.36% 06/23/2024
06/16/2024 64.21 -1.86% 06/16/2024 134.29 -1.83% 06/16/2024
9/6/2024 65.43 3.23% 9/6/2024 136.79 -2.27% 9/6/2024
2/6/2024 63.38 1.26% 2/6/2024 139.97 1.85% 2/6/2024
05/26/2024 62.59 -0.70% 05/26/2024 137.43 -0.16% 05/26/2024
05/19/2024 63.03 -1.93% 05/19/2024 137.65 -2.83% 05/19/2024
12/5/2024 64.27 -0.79% 12/5/2024 141.66 2.94% 12/5/2024
5/5/2024 64.78 2.65% 5/5/2024 137.62 2.44% 5/5/2024
04/28/2024 63.11 -0.99% 04/28/2024 134.34 -5.24% 04/28/2024
04/21/2024 63.74 11.08% 04/21/2024 141.77 2.36% 04/21/2024
04/14/2024 57.38 -2.99% 04/14/2024 138.5 0.51% 04/14/2024
7/4/2024 59.15 1.79% 7/4/2024 137.8 1.25% 7/4/2024
03/31/2024 58.11 -0.05% 03/31/2024 136.1 -1.84% 03/31/2024
03/24/2024 58.14 0.87% 03/24/2024 138.65 1.78% 03/24/2024
03/17/2024 57.64 4.55% 03/17/2024 136.23 -0.45% 03/17/2024
10/3/2024 55.13 2.62% 10/3/2024 136.84 -1.95% 10/3/2024
3/3/2024 53.72 -0.11% 3/3/2024 139.56 1.56% 3/3/2024
02/25/2024 53.78 1.61% 02/25/2024 137.42 -0.65% 02/25/2024
02/18/2024 52.93 1.85% 02/18/2024 138.32 2.80% 02/18/2024
11/2/2024 51.97 -1.52% 11/2/2024 134.55 3.29% 11/2/2024
4/2/2024 52.77 6.28% 4/2/2024 130.27 1.18% 4/2/2024
01/28/2024 49.65 6.71% 01/28/2024 128.75 -0.26% 01/28/2024
01/21/2024 46.53 -0.34% 01/21/2024 129.09 -2.43% 01/21/2024
01/14/2024 46.69 2.75% 01/14/2024 132.3 2.45% 01/14/2024
7/1/2024 45.44 2.67% 7/1/2024 129.13 0.62% 7/1/2024
12/31/2023 44.26 -3.24% 12/31/2023 128.34 -1.78% 12/31/2023
12/24/2023 45.74 -0.76% 12/24/2023 130.66 0.51% 12/24/2023
12/17/2023 46.09 1.45% 12/17/2023 130 1.06% 12/17/2023
10/12/2023 45.43 1.27% 10/12/2023 128.64 3.46% 10/12/2023
3/12/2023 44.86 0.40% 3/12/2023 124.34 -2.35% 3/12/2023
11/26/2023 44.68 0.65% 11/26/2023 127.33 -0.92% 11/26/2023
11/19/2023 44.39 2.66% 11/19/2023 128.51 0.67% 11/19/2023
12/11/2023 43.24 1.96% 12/11/2023 127.66 1.36% 12/11/2023
5/11/2023 42.41 3.92% 5/11/2023 125.95 -0.31% 5/11/2023
10/29/2023 40.81 8.11% 10/29/2023 126.34 5.78% 10/29/2023
10/22/2023 37.75 3.06% 10/22/2023 119.44 -0.43% 10/22/2023
10/15/2023 36.63 2.81% 10/15/2023 119.95 2.63% 10/15/2023
8/10/2023 35.63 -2.25% 8/10/2023 116.88 -2.16% 8/10/2023
1/10/2023 36.45 -0.52% 1/10/2023 119.46 -4.39% 1/10/2023
09/24/2023 36.64 -2.32% 09/24/2023 124.94 -0.05% 09/24/2023
09/17/2023 37.51 -1.93% 09/17/2023 125 -2.34% 09/17/2023
10/9/2023 38.25 -1.67% 10/9/2023 127.99 1.15% 10/9/2023
3/9/2023 38.9 0.34% 3/9/2023 126.53 -2.40% 3/9/2023
08/27/2023 38.77 3.28% 08/27/2023 129.64 -0.08% 08/27/2023
08/20/2023 37.54 1.51% 08/20/2023 129.74 0.48% 08/20/2023
08/13/2023 36.98 0.14% 08/13/2023 129.12 -3.79% 08/13/2023
6/8/2023 36.93 -2.33% 6/8/2023 134.2 -0.11% 6/8/2023
07/30/2023 37.81 -1.15% 07/30/2023 134.35 -1.89% 07/30/2023
07/23/2023 38.25 -8.89% 07/23/2023 136.94 -0.44% 07/23/2023
07/16/2023 41.98 2.09% 07/16/2023 137.54 1.46% 07/16/2023
9/7/2023 41.12 -1.03% 9/7/2023 135.56 1.58% 9/7/2023
2/7/2023 41.55 -2.88% 2/7/2023 133.45 -3.68% 2/7/2023
06/25/2023 42.78 4.67% 06/25/2023 138.55 2.18% 06/25/2023
06/18/2023 40.87 0.52% 06/18/2023 135.6 -2.15% 06/18/2023
11/6/2023 40.66 -0.37% 11/6/2023 138.58 3.85% 11/6/2023
4/6/2023 40.81 -1.04% 4/6/2023 133.44 -0.81% 4/6/2023
05/28/2023 41.24 -0.43% 05/28/2023 134.53 3.60% 05/28/2023
05/21/2023 41.42 -1.66% 05/21/2023 129.86 -6.09% 05/21/2023
05/14/2023 42.12 2.96% 05/14/2023 138.28 -0.17% 05/14/2023
7/5/2023 40.91 0.86% 7/5/2023 138.51 0.74% 7/5/2023
04/30/2023 40.56 -1.91% 04/30/2023 137.49 -2.20% 04/30/2023
04/23/2023 41.35 14.86% 04/23/2023 140.58 1.63% 04/23/2023
04/16/2023 36 3.54% 04/16/2023 138.33 2.56% 04/16/2023
9/4/2023 34.77 3.18% 9/4/2023 134.88 2.10% 9/4/2023
2/4/2023 33.7 -1.38% 2/4/2023 132.1 0.02% 2/4/2023
03/26/2023 34.17 5.17% 03/26/2023 132.08 3.32% 03/26/2023
03/19/2023 32.49 0.96% 03/19/2023 127.83 0.77% 03/19/2023
12/3/2023 32.18 3.77% 12/3/2023 126.85 1.82% 12/3/2023
5/3/2023 31.01 2.68% 5/3/2023 124.58 -3.93% 5/3/2023
02/26/2023 30.2 2.27% 02/26/2023 129.67 2.24% 02/26/2023
02/19/2023 29.53 -8.72% 02/19/2023 126.83 -3.95% 02/19/2023
12/2/2023 32.35 2.11% 12/2/2023 132.04 0.56% 12/2/2023
5/2/2023 31.68 -6.44% 5/2/2023 131.31 3.39% 5/2/2023
01/29/2023 33.86 4.89% 01/29/2023 127.01 -0.87% 01/29/2023
01/22/2023 32.28 3.79% 01/22/2023 128.13 1.18% 01/22/2023
01/15/2023 31.1 2.00% 01/15/2023 126.63 -2.76% 01/15/2023
8/1/2023 30.49 8.74% 8/1/2023 130.22 -0.05% 8/1/2023
1/1/2023 28.04 1.05% 1/1/2023 130.29 1.73% 1/1/2023
12/25/2022 27.75 -1.77% 12/25/2022 128.08 -0.64% 12/25/2022
12/18/2022 28.25 -3.39% 12/18/2022 128.9 -0.36% 12/18/2022
11/12/2022 29.24 -4.23% 11/12/2022 129.37 1.30% 11/12/2022
4/12/2022 30.53 -4.89% 4/12/2022 127.71 -1.52% 4/12/2022
11/27/2022 32.1 5.94% 11/27/2022 129.68 2.49% 11/27/2022
11/20/2022 30.3 0.83% 11/20/2022 126.53 1.54% 11/20/2022
11/13/2022 30.05 -0.27% 11/13/2022 124.61 1.04% 11/13/2022
 6/11/2022 30.13 7.80% 6/11/2022 123.33 1.27% 6/11/2022
10/30/2022 27.95 -7.14% 10/30/2022 121.78 3.31% 10/30/2022
10/23/2022 30.1 -2.90% 10/23/2022 117.88 6.17% 10/23/2022
10/16/2022 31 2.75% 10/16/2022 111.03 3.99% 10/16/2022
9/10/2022 30.17 1.99% 9/10/2022 106.77 -1.98% 9/10/2022
2/10/2022 29.58 -1.60% 2/10/2022 108.93 2.44% 2/10/2022
09/25/2022 30.06 -3.50% 09/25/2022 106.34 -3.90% 09/25/2022
09/18/2022 31.15 -8.03% 09/18/2022 110.65 -4.38% 09/18/2022
11/9/2022 33.87 -1.74% 11/9/2022 115.72 -0.32% 11/9/2022
4/9/2022 34.47 6.62% 4/9/2022 116.09 2.97% 4/9/2022
08/28/2022 32.33 -0.71% 08/28/2022 112.74 0.52% 08/28/2022
08/21/2022 32.56 -2.66% 08/21/2022 112.16 -3.85% 08/21/2022
08/14/2022 33.45 0.54% 08/14/2022 116.65 -1.28% 08/14/2022
7/8/2022 33.27 3.90% 7/8/2022 118.16 -0.22% 7/8/2022
07/31/2022 32.02 2.37% 07/31/2022 118.42 -3.36% 07/31/2022
07/24/2022 31.28 16.07% 07/24/2022 122.54 2.59% 07/24/2022
07/17/2022 26.95 3.65% 07/17/2022 119.45 1.10% 07/17/2022
10/7/2022 26 -2.95% 10/7/2022 118.15 0.74% 10/7/2022
3/7/2022 26.79 2.49% 3/7/2022 117.28 0.49% 3/7/2022
06/26/2022 26.14 -1.66% 06/26/2022 116.71 2.00% 06/26/2022
06/19/2022 26.58 6.70% 06/19/2022 114.42 4.49% 06/19/2022
12/6/2022 24.91 -5.43% 12/6/2022 109.5 -4.29% 12/6/2022
5/6/2022 26.34 -4.22% 5/6/2022 114.41 -3.55% 5/6/2022
05/29/2022 27.5 -1.96% 05/29/2022 118.62 -0.96% 05/29/2022
05/22/2022 28.05 8.38% 05/22/2022 119.77 7.01% 05/22/2022
05/15/2022 25.88 -1.86% 05/15/2022 111.92 -0.81% 05/15/2022
8/5/2022 26.37 -2.66% 8/5/2022 112.83 -2.22% 8/5/2022
1/5/2022 27.09 -6.94% 1/5/2022 115.39 -1.38% 1/5/2022
04/24/2022 29.11 -1.72% 04/24/2022 117.01 -4.40% 04/24/2022
04/17/2022 29.62 -7.61% 04/17/2022 122.4 -0.46% 04/17/2022
10/4/2022 32.06 3.82% 10/4/2022 122.97 3.19% 10/4/2022
3/4/2022 30.88 -3.14% 3/4/2022 119.17 0.29% 3/4/2022
03/27/2022 31.88 2.41% 03/27/2022 118.82 -0.67% 03/27/2022
03/20/2022 31.13 -1.95% 03/20/2022 119.62 -1.94% 03/20/2022
03/13/2022 31.75 7.59% 03/13/2022 121.99 4.93% 03/13/2022
6/3/2022 29.51 2.29% 6/3/2022 116.26 -2.08% 6/3/2022
02/27/2022 28.85 -3.64% 02/27/2022 118.73 -4.03% 02/27/2022
02/20/2022 29.94 -1.74% 02/20/2022 123.72 -1.65% 02/20/2022
02/13/2022 30.47 -2.43% 02/13/2022 125.8 3.06% 02/13/2022
6/2/2022 31.23 5.26% 6/2/2022 122.07 -2.55% 6/2/2022
01/30/2022 29.67 5.21% 01/30/2022 125.27 2.48% 01/30/2022
01/23/2022 28.2 2.29% 01/23/2022 122.24 -1.61% 01/23/2022
01/16/2022 27.57 -7.98% 01/16/2022 124.24 -2.22% 01/16/2022
9/1/2022 29.96 -6.26% 9/1/2022 127.06 -6.12% 9/1/2022
2/1/2022 31.96 -8.61% 2/1/2022 135.35 -2.53% 2/1/2022
12/26/2021 34.97 0.00% 12/26/2021 138.86 2.60% 12/26/2021
12/19/2021 34.97 3.83% 12/19/2021 135.34 2.58% 12/19/2021
12/12/2021 33.68 -2.18% 12/12/2021 131.93 -1.45% 12/12/2021
5/12/2021 34.43 8.13% 5/12/2021 133.87 7.24% 5/12/2021
11/28/2021 31.84 -5.63% 11/28/2021 124.83 0.51% 11/28/2021
11/21/2021 33.74 -3.87% 11/21/2021 124.2 -2.17% 11/21/2021
11/14/2021 35.1 -5.80% 11/14/2021 126.96 1.39% 11/14/2021
7/11/2021 37.26 3.82% 7/11/2021 125.22 -1.15% 7/11/2021
10/31/2021 35.89 0.87% 10/31/2021 126.68 1.39% 10/31/2021
10/24/2021 35.58 -0.73% 10/24/2021 124.94 -1.29% 10/24/2021
10/17/2021 35.84 -2.13% 10/17/2021 126.57 1.09% 10/17/2021
10/10/2021 36.62 0.74% 10/10/2021 125.21 1.47% 10/10/2021
3/10/2021 36.35 -0.60% 3/10/2021 123.39 -0.20% 3/10/2021
09/26/2021 36.57 -5.60% 09/26/2021 123.64 -1.50% 09/26/2021
09/19/2021 38.74 1.47% 09/19/2021 125.52 -1.24% 09/19/2021
12/9/2021 38.18 0.42% 12/9/2021 127.09 -2.16% 12/9/2021
5/9/2021 38.02 -0.99% 5/9/2021 129.89 -0.79% 5/9/2021
08/29/2021 38.4 0.05% 08/29/2021 130.92 -0.59% 08/29/2021
08/22/2021 38.38 1.45% 08/22/2021 131.7 -2.05% 08/22/2021
08/15/2021 37.83 0.19% 08/15/2021 134.46 -0.37% 08/15/2021
8/8/2021 37.76 0.05% 8/8/2021 134.96 0.69% 8/8/2021
1/8/2021 37.74 1.26% 1/8/2021 134.03 2.01% 1/8/2021
07/25/2021 37.27 1.77% 07/25/2021 131.39 7.00% 07/25/2021
07/18/2021 36.62 17.33% 07/18/2021 122.79 5.99% 07/18/2021
11/7/2021 31.21 -1.98% 11/7/2021 115.85 -2.30% 11/7/2021
4/7/2021 31.84 1.63% 4/7/2021 118.58 1.39% 4/7/2021
06/27/2021 31.33 3.13% 06/27/2021 116.95 -0.26% 06/27/2021
06/20/2021 30.38 8.54% 06/20/2021 117.25 2.28% 06/20/2021
06/13/2021 27.99 2.38% 06/13/2021 114.64 -4.19% 06/13/2021
6/6/2021 27.34 3.05% 6/6/2021 119.65 0.74% 6/6/2021
05/30/2021 26.53 -3.32% 05/30/2021 118.77 -1.00% 05/30/2021
05/23/2021 27.44 3.16% 05/23/2021 119.97 0.22% 05/23/2021
05/16/2021 26.6 -1.92% 05/16/2021 119.71 0.37% 05/16/2021
9/5/2021 27.12 -4.91% 9/5/2021 119.27 -1.62% 9/5/2021
2/5/2021 28.52 -4.42% 2/5/2021 121.23 1.43% 2/5/2021
04/25/2021 29.84 1.60% 04/25/2021 119.52 1.53% 04/25/2021
04/18/2021 29.37 -4.33% 04/18/2021 117.72 -0.29% 04/18/2021
11/4/2021 30.7 0.23% 11/4/2021 118.06 2.70% 11/4/2021
4/4/2021 30.63 6.47% 4/4/2021 114.96 4.70% 4/4/2021
03/28/2021 28.77 -0.48% 03/28/2021 109.8 1.61% 03/28/2021
03/21/2021 28.91 1.72% 03/21/2021 108.06 0.09% 03/21/2021
03/14/2021 28.42 -2.20% 03/14/2021 107.96 3.01% 03/14/2021
7/3/2021 29.06 9.04% 7/3/2021 104.81 0.46% 7/3/2021
02/28/2021 26.65 -7.59% 02/28/2021 104.33 0.77% 02/28/2021
02/21/2021 28.84 -2.10% 02/21/2021 103.53 -1.52% 02/21/2021
02/14/2021 29.46 02/14/2021 105.13 02/14/2021
 Historical Approach
Using CAPM Formula
CAGR 11.69%
Rf 4.54%
ERP 7.15%

0.54 1.00

Darden Restaurants Restaurants Brands Int S&P 500

Price %Change Date Price %Change Date
192.87 -2.21% 9/2/2025 66.02 2.93% 9/2/2025
197.22 1.01% 2/2/2025 64.14 4.22% 2/2/2025
195.24 4.07% 01/26/2025 61.54 -0.87% 01/26/2025
187.61 3.22% 01/19/2025 62.08 2.65% 01/19/2025
181.75 0.96% 12/1/2025 60.48 -0.66% 12/1/2025
180.02 -4.10% 5/1/2025 60.88 -6.25% 5/1/2025
187.72 0.07% 12/29/2024 64.94 -0.92% 12/29/2024
187.58 -0.01% 12/22/2024 65.54 -1.84% 12/22/2024
187.59 12.54% 12/15/2024 66.77 -2.21% 12/15/2024
166.69 -1.80% 8/12/2024 68.28 -1.03% 8/12/2024
169.75 -3.70% 1/12/2024 68.99 -0.89% 1/12/2024
176.27 5.12% 11/24/2024 69.61 0.74% 11/24/2024
167.69 0.55% 11/17/2024 69.1 2.34% 11/17/2024
166.78 -0.99% 10/11/2024 67.52 -0.69% 10/11/2024
168.44 5.51% 3/11/2024 67.99 -2.84% 3/11/2024
159.65 -0.17% 10/27/2024 69.98 -0.79% 10/27/2024
159.92 -2.84% 10/20/2024 70.54 -0.01% 10/20/2024
164.59 5.02% 10/13/2024 70.55 -0.37% 10/13/2024
156.72 -4.93% 6/10/2024 70.81 -1.32% 6/10/2024
164.84 -1.12% 09/29/2024 71.76 0.67% 09/29/2024
166.71 -2.03% 09/22/2024 71.28 1.42% 09/22/2024
170.17 6.19% 09/15/2024 70.28 1.59% 09/15/2024
160.25 1.79% 8/9/2024 69.18 2.29% 8/9/2024
157.43 -0.46% 1/9/2024 67.63 -2.66% 1/9/2024
158.15 2.65% 08/25/2024 69.48 -1.25% 08/25/2024
154.07 7.47% 08/18/2024 70.36 -0.64% 08/18/2024
143.36 0.18% 11/8/2024 70.81 0.43% 11/8/2024
143.1 -0.65% 4/8/2024 70.51 0.50% 4/8/2024
144.03 1.24% 07/28/2024 70.16 3.21% 07/28/2024
142.27 -0.41% 07/21/2024 67.98 -6.54% 07/21/2024
142.86 0.41% 07/14/2024 72.74 -0.26% 07/14/2024
142.27 -2.03% 7/7/2024 72.93 4.77% 7/7/2024
145.22 -4.03% 06/30/2024 69.61 -1.08% 06/30/2024
151.32 -1.28% 06/23/2024 70.37 1.63% 06/23/2024
153.28 3.02% 06/16/2024 69.24 0.49% 06/16/2024
148.78 0.16% 9/6/2024 68.9 0.17% 9/6/2024
148.54 -1.23% 2/6/2024 68.78 0.29% 2/6/2024
150.39 1.89% 05/26/2024 68.58 1.55% 05/26/2024
147.6 -4.16% 05/19/2024 67.53 -4.70% 05/19/2024
154 3.88% 12/5/2024 70.86 -3.25% 12/5/2024
148.25 -0.67% 5/5/2024 73.24 -3.42% 5/5/2024
149.25 -4.39% 04/28/2024 75.83 2.72% 04/28/2024
156.1 2.36% 04/21/2024 73.82 3.36% 04/21/2024
152.5 -0.36% 04/14/2024 71.42 0.21% 04/14/2024
153.05 -2.11% 7/4/2024 71.27 -4.40% 7/4/2024
156.35 -6.46% 03/31/2024 74.55 -6.17% 03/31/2024
167.15 1.24% 03/24/2024 79.45 0.24% 03/24/2024
165.11 -3.98% 03/17/2024 79.26 0.32% 03/17/2024
171.96 0.23% 10/3/2024 79.01 -0.87% 10/3/2024
171.57 0.16% 3/3/2024 79.7 2.56% 3/3/2024
171.29 1.05% 02/25/2024 77.71 2.08% 02/25/2024
169.51 4.34% 02/18/2024 76.13 -1.37% 02/18/2024
162.46 -3.10% 11/2/2024 77.19 0.22% 11/2/2024
167.66 0.68% 4/2/2024 77.02 -2.89% 4/2/2024
166.52 3.43% 01/28/2024 79.31 3.16% 01/28/2024
160.99 1.10% 01/21/2024 76.88 0.00% 01/21/2024
159.24 1.34% 01/14/2024 76.88 -2.00% 01/14/2024
157.13 -3.05% 7/1/2024 78.45 2.64% 7/1/2024
162.08 -1.35% 12/31/2023 76.43 -2.18% 12/31/2023
164.3 1.52% 12/24/2023 78.13 0.92% 12/24/2023
161.84 -0.40% 12/17/2023 77.42 5.03% 12/17/2023
162.49 2.23% 10/12/2023 73.71 2.50% 10/12/2023
158.95 -0.60% 3/12/2023 71.91 -0.95% 3/12/2023
159.91 2.50% 11/26/2023 72.6 4.66% 11/26/2023
156.01 0.10% 11/19/2023 69.37 -2.46% 11/19/2023
155.86 3.84% 12/11/2023 71.12 3.46% 12/11/2023
150.1 -0.40% 5/11/2023 68.74 1.39% 5/11/2023
150.71 5.77% 10/29/2023 67.8 2.91% 10/29/2023
142.49 1.29% 10/22/2023 65.88 0.61% 10/22/2023
140.67 4.98% 10/15/2023 65.48 4.48% 10/15/2023
134 -2.15% 8/10/2023 62.67 -0.49% 8/10/2023
136.94 -4.38% 1/10/2023 62.98 -5.46% 1/10/2023
143.22 -0.20% 09/24/2023 66.62 -1.77% 09/24/2023
 143.5 -4.37% 09/17/2023 67.82 -1.11% 09/17/2023
150.06 0.41% 10/9/2023 68.58 1.34% 10/9/2023
149.44 -3.93% 3/9/2023 67.67 -3.19% 3/9/2023
155.56 -0.28% 08/27/2023 69.9 2.96% 08/27/2023
155.99 -1.56% 08/20/2023 67.89 -1.16% 08/20/2023
158.47 -1.26% 08/13/2023 68.69 -5.87% 08/13/2023
160.49 -1.21% 6/8/2023 72.97 -0.67% 6/8/2023
162.45 -3.03% 07/30/2023 73.46 -4.49% 07/30/2023
167.52 -1.67% 07/23/2023 76.91 -0.98% 07/23/2023
170.37 1.75% 07/16/2023 77.67 0.49% 07/16/2023
167.44 2.44% 9/7/2023 77.29 2.43% 9/7/2023
163.45 -2.17% 2/7/2023 75.46 -2.66% 2/7/2023
167.08 3.58% 06/25/2023 77.52 2.88% 06/25/2023
161.3 -2.84% 06/18/2023 75.35 -1.41% 06/18/2023
166.01 2.53% 11/6/2023 76.43 1.69% 11/6/2023
161.91 -1.30% 4/6/2023 75.16 -1.60% 4/6/2023
164.04 1.71% 05/28/2023 76.38 4.32% 05/28/2023
161.28 -0.08% 05/21/2023 73.22 -0.05% 05/21/2023
161.41 8.66% 05/14/2023 73.26 0.52% 05/14/2023
148.55 -2.97% 7/5/2023 72.88 1.82% 7/5/2023
153.09 0.76% 04/30/2023 71.58 2.07% 04/30/2023
151.93 0.05% 04/23/2023 70.13 0.89% 04/23/2023
151.85 -0.37% 04/16/2023 69.51 2.98% 04/16/2023
152.42 1.82% 9/4/2023 67.5 2.26% 9/4/2023
149.7 -3.52% 2/4/2023 66.01 -1.68% 2/4/2023
155.16 1.69% 03/26/2023 67.14 7.75% 03/26/2023
152.58 2.75% 03/19/2023 62.31 2.28% 03/19/2023
148.5 3.15% 12/3/2023 60.92 0.64% 12/3/2023
143.97 -2.29% 5/3/2023 60.53 -5.54% 5/3/2023
147.34 1.94% 02/26/2023 64.08 -1.57% 02/26/2023
144.53 -1.07% 02/19/2023 65.1 -3.58% 02/19/2023
146.09 -0.63% 12/2/2023 67.52 -0.15% 12/2/2023
147.02 -0.27% 5/2/2023 67.62 -0.04% 5/2/2023
147.42 -0.64% 01/29/2023 67.65 0.99% 01/29/2023
148.37 0.67% 01/22/2023 66.99 0.18% 01/22/2023
147.38 -1.62% 01/15/2023 66.87 0.78% 01/15/2023
149.8 1.92% 8/1/2023 66.35 1.05% 8/1/2023
146.98 6.25% 1/1/2023 65.66 1.53% 1/1/2023
138.33 -0.37% 12/25/2022 64.67 -0.49% 12/25/2022
138.84 -0.76% 12/18/2022 64.99 -1.52% 12/18/2022
139.9 -1.87% 11/12/2022 65.99 -0.83% 11/12/2022
142.57 -2.00% 4/12/2022 66.54 0.17% 4/12/2022
145.48 -1.96% 11/27/2022 66.43 -0.12% 11/27/2022
148.39 0.85% 11/20/2022 66.51 -0.34% 11/20/2022
147.14 4.24% 11/13/2022 66.74 9.91% 11/13/2022
141.16 -0.13% 6/11/2022 60.72 -0.07% 6/11/2022
141.34 -0.81% 10/30/2022 60.76 2.46% 10/30/2022
142.49 6.88% 10/23/2022 59.3 4.57% 10/23/2022
133.32 2.54% 10/16/2022 56.71 5.70% 10/16/2022
130.02 3.44% 9/10/2022 53.65 2.56% 9/10/2022
125.69 -0.50% 2/10/2022 52.31 -1.64% 2/10/2022
126.32 3.21% 09/25/2022 53.18 -3.99% 09/25/2022
122.39 -5.62% 09/18/2022 55.39 -6.51% 09/18/2022
129.68 -1.04% 11/9/2022 59.25 -2.69% 11/9/2022
131.04 4.69% 4/9/2022 60.89 2.82% 4/9/2022
125.17 0.16% 08/28/2022 59.22 0.14% 08/28/2022
124.97 -3.18% 08/21/2022 59.14 0.05% 08/21/2022
129.07 -2.15% 08/14/2022 59.11 -2.27% 08/14/2022
131.91 6.74% 7/8/2022 60.48 1.49% 7/8/2022
123.58 -0.73% 07/31/2022 59.59 11.15% 07/31/2022
124.49 2.59% 07/24/2022 53.61 2.90% 07/24/2022
121.35 3.64% 07/17/2022 52.1 -0.13% 07/17/2022
117.09 0.27% 10/7/2022 52.17 0.19% 10/7/2022
116.78 2.13% 3/7/2022 52.07 0.93% 3/7/2022
114.35 -4.56% 06/26/2022 51.59 3.70% 06/26/2022
119.81 4.91% 06/19/2022 49.75 4.10% 06/19/2022
114.2 -4.79% 12/6/2022 47.79 -4.72% 12/6/2022
119.94 -4.64% 5/6/2022 50.16 -3.67% 5/6/2022
125.78 -0.21% 05/29/2022 52.07 1.82% 05/29/2022
126.04 8.42% 05/22/2022 51.14 1.51% 05/22/2022
116.25 -9.23% 05/15/2022 50.38 -2.67% 05/15/2022
128.07 -1.56% 8/5/2022 51.76 -1.43% 8/5/2022
130.1 -1.24% 1/5/2022 52.51 -8.02% 1/5/2022
131.73 -1.73% 04/24/2022 57.09 -1.38% 04/24/2022
134.05 1.98% 04/17/2022 57.89 -4.20% 04/17/2022
131.45 3.97% 10/4/2022 60.43 2.16% 10/4/2022
126.43 -2.80% 3/4/2022 59.15 1.60% 3/4/2022
130.07 0.21% 03/27/2022 58.22 1.64% 03/27/2022
129.8 -2.87% 03/20/2022 57.28 -1.92% 03/20/2022
133.63 3.59% 03/13/2022 58.4 3.42% 03/13/2022
129 -2.30% 6/3/2022 56.47 1.75% 6/3/2022
132.04 -8.99% 02/27/2022 55.5 -2.65% 02/27/2022
145.08 0.23% 02/20/2022 57.01 -0.07% 02/20/2022
144.74 0.24% 02/13/2022 57.05 -0.71% 02/13/2022
144.4 4.74% 6/2/2022 57.46 3.09% 6/2/2022
137.86 -0.48% 01/30/2022 55.74 1.40% 01/30/2022
138.52 2.77% 01/23/2022 54.97 -0.76% 01/23/2022
134.78 -5.75% 01/16/2022 55.39 -3.15% 01/16/2022
143 -1.83% 9/1/2022 57.19 -1.90% 9/1/2022
145.66 -3.31% 2/1/2022 58.3 -3.92% 2/1/2022
150.64 1.21% 12/26/2021 60.68 2.31% 12/26/2021
148.84 6.44% 12/19/2021 59.31 3.17% 12/19/2021
139.83 -7.89% 12/12/2021 57.49 -3.41% 12/12/2021
151.81 6.65% 5/12/2021 59.52 6.10% 5/12/2021
142.35 1.28% 11/28/2021 56.1 -3.26% 11/28/2021
140.55 -1.82% 11/21/2021 57.99 1.36% 11/21/2021
143.16 -4.72% 11/14/2021 57.21 0.00% 11/14/2021
150.25 -2.74% 7/11/2021 57.21 -3.74% 7/11/2021
154.48 7.17% 10/31/2021 59.43 4.93% 10/31/2021
144.14 -0.87% 10/24/2021 56.64 -8.59% 10/24/2021
145.4 -2.51% 10/17/2021 61.96 0.96% 10/17/2021
149.15 -3.51% 10/10/2021 61.37 -1.38% 10/10/2021
154.58 -0.88% 3/10/2021 62.23 -0.08% 3/10/2021
155.96 -1.73% 09/26/2021 62.28 -0.27% 09/26/2021
158.7 6.20% 09/19/2021 62.45 -0.75% 09/19/2021
149.43 0.52% 12/9/2021 62.92 -3.04% 12/9/2021
148.66 0.41% 5/9/2021 64.89 0.95% 5/9/2021
148.05 -3.29% 08/29/2021 64.28 -0.51% 08/29/2021
153.08 9.88% 08/22/2021 64.61 3.21% 08/22/2021
139.31 -1.89% 08/15/2021 62.6 -4.15% 08/15/2021
141.99 -1.87% 8/8/2021 65.31 2.64% 8/8/2021
144.7 -0.81% 1/8/2021 63.63 -6.69% 1/8/2021
145.88 0.94% 07/25/2021 68.19 3.43% 07/25/2021
144.52 1.96% 07/18/2021 65.93 4.58% 07/18/2021
141.74 -4.60% 11/7/2021 63.04 -1.99% 11/7/2021
148.58 0.30% 4/7/2021 64.32 -0.77% 4/7/2021
148.13 2.79% 06/27/2021 64.82 -0.45% 06/27/2021
144.11 10.77% 06/20/2021 65.11 -1.63% 06/20/2021
130.1 -6.48% 06/13/2021 66.19 -2.80% 06/13/2021
139.11 3.70% 6/6/2021 68.1 -1.56% 6/6/2021
134.15 -6.34% 05/30/2021 69.18 -0.77% 05/30/2021
143.23 1.75% 05/23/2021 69.72 2.30% 05/23/2021
140.76 0.89% 05/16/2021 68.15 0.74% 05/16/2021
139.52 -2.01% 9/5/2021 67.65 -2.63% 9/5/2021
142.38 -2.96% 2/5/2021 69.48 1.27% 2/5/2021
146.72 1.91% 04/25/2021 68.61 3.56% 04/25/2021
143.97 -1.61% 04/18/2021 66.25 -0.20% 04/18/2021
146.33 2.26% 11/4/2021 66.38 -0.63% 11/4/2021
143.1 -0.82% 4/4/2021 66.8 1.91% 4/4/2021
144.28 -3.15% 03/28/2021 65.55 -3.49% 03/28/2021
148.98 6.57% 03/21/2021 67.92 4.85% 03/21/2021
139.79 -3.86% 03/14/2021 64.78 2.03% 03/14/2021
145.41 3.38% 7/3/2021 63.49 1.63% 7/3/2021
140.66 2.42% 02/28/2021 62.47 4.26% 02/28/2021
137.33 2.48% 02/21/2021 59.92 -1.72% 02/21/2021
134.01 02/14/2021 60.97 02/14/2021
RRI
12%

Price %Change
6,078.74 0.88%
6,025.99 -0.24%
6,040.53 -1.00%
6,101.24 1.74%
5,996.66 2.91%
5,827.04 -1.94%
5,942.47 -0.48%
5,970.84 0.67%
5,930.85 -1.99%
6,051.09 -0.64%
6,090.27 0.96%
6,032.38 1.06%
5,969.34 1.68%
5,870.62 -2.08%
5,995.54 4.66%
5,728.80 -1.37%
5,808.12 -0.96%
5,864.67 0.85%
5,815.03 1.11%
5,751.07 0.22%
5,738.17 0.62%
5,702.55 1.36%
5,626.02 4.02%
5,408.42 -4.25%
5,648.40 0.24%
5,634.61 1.45%
5,554.25 3.93%
5,344.16 -0.04%
5,346.56 -2.06%
5,459.10 -0.83%
5,505.00 -1.97%
5,615.35 0.87%
5,567.19 1.95%
5,460.48 -0.08%
5,464.62 0.61%
5,431.60 1.58%
5,346.99 1.32%
5,277.51 -0.51%
5,304.72 0.03%
5,303.27 1.54%
5,222.68 1.85%
5,127.79 0.55%
5,099.96 2.67%
4,967.23 -3.05%
5,123.41 -1.56%
5,204.34 -0.95%
5,254.35 0.39%
5,234.18 2.29%
5,117.09 -0.13%
5,123.69 -0.26%
5,137.08 0.95%
5,088.80 1.66%
5,005.57 -0.42%
5,026.61 1.37%
4,958.61 1.38%
4,890.97 1.06%
4,839.81 1.17%
4,783.83 1.84%
4,697.24 -1.52%
4,769.83 0.32%
4,754.63 0.75%
4,719.19 2.49%
4,604.37 0.21%
4,594.63 0.77%
4,559.34 1.00%
4,514.02 2.24%
4,415.24 1.31%
4,358.34 5.85%
4,117.37 -2.53%
4,224.16 -2.39%
4,327.78 0.45%
4,308.50 0.48%
4,288.05 -0.74%
4,320.06 -2.93%
4,450.32 -0.16%
4,457.49 -1.29%
4,515.77 2.50%
4,405.71 0.82%
4,369.71 -2.11%
4,464.05 -0.31%
4,478.03 -2.27%
4,582.23 1.01%
4,536.34 0.69%
4,505.42 2.42%
4,398.95 -1.16%
4,450.38 2.35%
4,348.33 -1.39%
4,409.59 2.58%
4,298.86 0.39%
4,282.37 1.83%
4,205.45 0.32%
4,191.98 1.65%
4,124.08 -0.29%
4,136.25 -0.80%
4,169.48 0.87%
4,133.52 -0.10%
4,137.64 0.79%
4,105.02 -0.10%
4,109.31 3.48%
3,970.99 1.39%
3,916.64 1.43%
3,861.59 -4.55%
4,045.64 1.90%
3,970.04 -2.67%
4,079.09 -0.28%
4,090.46 -1.11%
4,136.48 1.62%
4,070.56 2.47%
3,972.61 -0.66%
3,999.09 2.67%
3,895.08 1.45%
3,839.50 -0.14%
3,844.82 -0.20%
3,852.36 -2.08%
3,934.38 -3.37%
4,071.70 1.13%
4,026.12 1.53%
3,965.34 -0.69%
3,992.93 5.90%
3,770.55 -3.35%
3,901.06 3.95%
3,752.75 4.74%
3,583.07 -1.55%
3,639.66 1.51%
3,585.62 -2.91%
3,693.23 -4.65%
3,873.33 -4.77%
4,067.36 3.65%
3,924.26 -3.29%
4,057.66 -4.04%
4,228.48 -1.21%
4,280.15 3.26%
4,145.19 0.36%
4,130.29 4.26%
3,961.63 2.55%
3,863.16 -0.93%
3,899.38 1.94%
3,825.33 -2.21%
3,911.74 6.45%
3,674.84 -5.79%
3,900.86 -5.05%
4,108.54 -1.20%
4,158.24 6.58%
3,901.36 -3.05%
4,023.89 -2.41%
4,123.34 -0.21%
4,131.93 -3.27%
4,271.78 -2.75%
4,392.59 -2.13%
4,488.28 -1.27%
4,545.86 0.06%
4,543.06 1.79%
4,463.12 6.16%
4,204.31 -2.88%
4,328.87 -1.27%
4,384.65 0.82%
4,348.87 -1.58%
4,418.64 -1.82%
4,500.53 1.55%
4,431.85 0.77%
4,397.94 -5.68%
4,662.85 -0.30%
4,677.03 -1.87%
4,766.18 0.85%
4,725.79 2.28%
4,620.64 -1.94%
4,712.02 3.82%
4,538.43 -1.22%
4,594.62 -2.20%
4,697.96 0.32%
4,682.85 -0.31%
4,697.53 2.00%
4,605.38 1.33%
4,544.90 1.64%
4,471.37 1.82%
4,391.34 0.79%
4,357.04 -2.21%
4,455.48 0.51%
4,432.99 -0.57%
4,458.58 -1.69%
4,535.43 0.58%
4,509.37 1.52%
4,441.67 -0.59%
4,468.00 0.71%
4,436.52 0.94%
4,395.26 -0.37%
4,411.79 1.96%
4,327.16 -0.97%
4,369.55 0.40%
4,352.34 1.67%
4,280.70 2.74%
4,166.45 -1.91%
4,247.44 0.41%
4,229.89 0.61%
4,204.11 1.16%
4,155.86 -0.43%
4,173.85 -1.39%
4,232.60 1.23%
4,181.17 0.02%
4,180.17 -0.13%
4,185.47 1.37%
4,128.80 2.71%
4,019.87 1.14%
3,974.54 1.57%
3,913.10 -0.77%
3,943.34 2.64%
3,841.94 0.81%
3,811.15 -2.45%
3,906.71
Starbucks Corporation
(in USD million except per Share Data)

Step -1 Step-2
Company Regression Beta Debt Equity DFL
McDonald's Corporation 0.5775684217791 15% 85% 1.14
Chipotle Mexican Grill 1.1007073685814 6% 94% 1.05
Yum! Brands Inc 0.6268664581851 23% 77% 1.24
Darden Restaurants 0.7357374804839 6% 94% 1.05

Starbucks Corp 0.935388961884 17% 83% 1.16

10% 90%
Regression Beta - SBUX 0.935388961884
Step 4
Debt % 10.33%
Equity % 89.67%
DFL 1.09
Bottom-up Beta 0.75
Unlevered Beta = reg Beta/DFL Step 3 unlevered beta 0.691852
0.506768
1.051182
0.506677
0.702781

0.804958
Starbucks Corporation
(in USD million except per Share Data)

Valuation Date 2/11/2025

First Projection Year 9/30/2025
First Projection Half-Year 3/31/2025

Bottom-Up Beta 0.75

ERP(Rating Method) 4.12%

Risk Free Rate 4.536%
Cost of Equity 7.65%
Cost of Debt (Rating Method) 5.74%
Weight of Equity 89.67%
Weight of Debt 10.33%
WACC 7.32%

Yearly 0.63 1.63 2.63 3.63 4.63

Sep'2025 Sep'2026 Sep'2027 Sep'2028 Sep'2029
EBIT 5,441.06 5,832.32 6,334.81 6,985.41 7,726.02
Tax Rate 21% 21% 21% 21% 21%
NOPAT 4,298.44 4,607.54 5,004.50 5,518.48 6,103.55
(+) D&A 1,579.42 1,676.39 1,820.20 2,006.13 2,218.14
(+) NCWC -439.22 -127.60 -168.91 -218.63 -248.97
(-) Capex -1,320.22 -2,259.86 -2,593.57 -3,008.25 -3,359.90
FCFF 4,118.42 3,896.46 4,062.22 4,297.73 4,712.82

Step 2:
Discount Factor 0.96 0.89 0.83 0.77 0.72

Step 3 : Explicit FCFF Calculation (PV)

17503.59 3938.25 3471.73 3372.42 3324.44 3396.75

Step 4
GGM Exit Multiple
Growth Rate 3.20% EBIDTA 8,677
FCFF Terminal Value 117,931 EV/EBIDTA 18.67
PV of terminal Value 84,998 TV 161999.59
PV of TV 116760.667
Step 5 : Calculation of Operating EV
Operating EV 102501.86 134264.26

Step 6 : Calculation of Non-Operating Assets

Short-term Investments 257
Long-term Investments 276
Equity Investments 463.9
Other-Long Term Assets 617
Non-Operating Assets 1613.9

Step 7 : Total EV 104115.76 135878.16

Step 8: Calculation of Market Value

TEV 104115.76 135878.16
(-) Debt and Debt Equivalent 25,803.10 25,803.10
(-) Minority Interest 7.3 7.3

(+) Cash 3,286.20 3,286.20

Market value of the Firm 81591.56 113353.96

Step 9 : Calculate DCF Value per share

Total Outstading share 1,133.80
DCF Value 71.9629228 99.9770297

Range as per Gordon Growth Exit Multiple

Min 64.55 97.93
Max 80.98 102.06

CMP 111

if CMP is within the range then this implies Neutral

if CMP is above the Max then it's overvalued, then sell it
if the CMP is below the min then it's undervalued, buy it
 Sensitivity Analysis using Gordon Growth
Growth Rate
71.96 2.2% 2.4% 2.6% 2.8% 3.0% 3.2% 3.4%
6.5%
6.7%
6.9%
WACC

7.1%
7.3%
7.5%
7.7%
7.9%
8.1%
8.3%

Sensitivity Analysis using Exit Multiple

EXIT MULTIPLE
99.98 17.67 17.87 18.07 18.27 18.47 18.67 18.87
6.52%
6.72%
6.92%
WACC

7.12%
7.32%
7.52%
7.72%
7.92%
8.12%
8.32%
Trading Comps Venture Capital
DCF Long -Term Investors

Yearly 0.632876712328767 1.632877 2.632877 3.632877

Six-Monthly 0.131506849315068 1.131507 2.131507 3.131507
th Rate
3.6% 3.8% 4.0% 4.2%

19.07 19.27 19.47 19.67

4.632877
4.131507