Starbucks stock forecast

The weighted scenario is $72.08 in October 2027, before reaching $93.20 in October 2029. It hinges on whether transaction growth—not just a higher ticket—can pay for renewal.

Where could Starbucks shares be by 2029?

The forecast points to a weak near-term path and only a small three-year gain. The probability-weighted price is $72.08 in October 2027, or a 22% loss including dividends. It is $86.91 in October 2028, a 4% loss, before reaching $93.20 in October 2029, a 5% gain.

The October 2029 outcomes range from $43.43 in the bear case to $168.66 in the bull case, against today’s $95.76.

What has to go right or wrong for Starbucks?

The bear case earnings are $2,625 million in 2027 and $2,698 million in 2028, reaching $2,772 million in 2029. Revenue rises only from $37,500 million to $38,000 million before reaching $38,500 million. Margins remain near 7.0% and 7.1%, then reach 7.2%. The bull case reaches $3,272 million in 2027 and $4,300 million in 2028, then $5,000 million in 2029. It assumes revenue reaches $43,000 million and margin reaches 11.6%, requiring durable traffic gains and labor productivity. The uneven earnings record and restructuring burden support the wider downside.

How much cash does Starbucks really make?

Free cash flow is operating cash flow less spending on property and equipment. In fiscal 2025, Starbucks generated $4,747.5 million of operating cash and spent $2,305.5 million on property and equipment. Calculated free cash flow was therefore $2,442.0 million.

What does an investor pay for Starbucks today?

The forward P/E measures the price against estimated earnings per share. The current multiple implies about $3.15 of earnings over the next twelve months, but that estimate can be distorted by repurchases, restructuring and the one-time $536.3 million China divestiture gain.