Starbucks vs Chipotle Business Model (2026)
Starbucks earns most from Company-operated stores (82.7%), while Chipotle earns most from Food and beverage (99.5%). Computed from Starbucks 10-K FY2025 and Chipotle 10-K FY2025.
Last checked 2026-10-18 on the official pages.
Starbucks
Amounts in millions of USD. Shares are computed from the filing.
| Revenue line | Value | % of total | Filing |
|---|---|---|---|
| Company-operated stores | $30,745 million ($30.7 billion) | 82.7% | 10-K FY2025 ↗ |
| Licensed stores | $4,350 million ($4.4 billion) | 11.7% | 10-K FY2025 ↗ |
| Other revenue | $2,089 million ($2.1 billion) | 5.6% | 10-K FY2025 ↗ |
| Total revenue | $37,184 million ($37.2 billion) | — | 10-K FY2025 ↗ |
Chipotle
Amounts in millions of USD. Shares are computed from the filing.
| Revenue line | Value | % of total | Filing |
|---|---|---|---|
| Food and beverage | $11,866 million ($11.9 billion) | 99.5% | 10-K FY2025 ↗ |
| Delivery service | $60 million | 0.5% | 10-K FY2025 ↗ |
| Total revenue | $11,926 million ($11.9 billion) | — | 10-K FY2025 ↗ |
Shared business models
Company and model pages
Starbucks: Loyalty and stored value · Retail margin
Chipotle: Retail margin
Frequently asked questions
How does Starbucks make money?
Starbucks makes money mainly from Company-operated stores. Its FY2025 total revenue was $37,184 million ($37.2 billion), with Company-operated stores the biggest disclosed revenue line at $30,745 million ($30.7 billion) and 82.7% of total revenue (computed from the 10-K FY2025). Starbucks earns royalties and license fees while supplying products to licensed stores.
How does Chipotle make money?
Chipotle makes money mainly from Food and beverage. Its FY2025 total revenue was $11,926 million ($11.9 billion), with Food and beverage the biggest disclosed revenue line at $11,866 million ($11.9 billion) and 99.5% of total revenue (computed from the 10-K FY2025). Chipotle’s food and beverage revenue comes from selling food and drinks.