Earnings per Share
Calculation of net earnings per common share (“EPS”) — basic and diluted (in millions, except EPS):
Fiscal Year EndedSep 28, 2025Sep 29, 2024Oct 1, 2023
Net earnings attributable to Starbucks$1,856.4 $3,760.9 $4,124.5 
Weighted average common shares outstanding (for basic calculation)1,136.0 1,133.8 1,146.8 
Dilutive effect of outstanding common stock options and RSUs3.8 3.5 4.5 
Weighted average common and common equivalent shares outstanding (for diluted calculation)1,139.8 1,137.3 1,151.3 
EPS — basic$1.63 $3.32 $3.60 
EPS — diluted$1.63 $3.31 $3.58 
Potential dilutive shares consist of the incremental common shares issuable upon the exercise of outstanding stock options (both vested and non-vested) and unvested RSUs, calculated using the treasury stock method. The calculation of dilutive shares outstanding excludes anti-dilutive stock options or unvested RSUs, which were immaterial in the periods presented.

Historical Timeline

Fiscal YearFiled
2025Nov 14, 2025Showing above
2024Nov 20, 2024
2023Nov 17, 2023
2022Nov 18, 2022
2021Nov 19, 2021
2020Nov 12, 2020
2019Nov 15, 2019
2018Nov 16, 2018
2017Nov 17, 2017
2016Nov 18, 2016
2015Nov 12, 2015

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.