What is Starbucks Tokenized Stock (SBUXON)?

Article Summary

• 📈 SBUXON recorded a Total Asset Value growth reaching $2.1 million with a 7.53% increase in the last 30 days as of May 2026.
• ☕ Starbucks’ market capitalization reached $119.58 billion as of May 2026, ranking it as the 183rd most valuable company in the world.
• 🚀 Starbucks’ annual revenue hit a record high of $37.70 billion in 2025, a significant increase from $36.14 billion the previous year.
• 🎯 Analysts on the X platform project the SBUX stock price target to increase toward the $120 to $160 range after successfully breaking out of an 8-year consolidation phase.
• 📜 Since its IPO in 1992 at an initial price of $17, SBUX stock has provided extraordinary returns through 6 stock splits.

History of Starbucks Corporation and SBUX Stock

Starbucks was founded in 1971 in Seattle by Jerry Baldwin, Zev Siegl, and Gordon Bowker. Initially, the store did not serve ready-to-drink coffee, focusing solely on selling high-quality roasted coffee beans and coffee-making equipment.

A major transformation occurred when Howard Schultz took over the company in 1987. Inspired by Italian espresso bar culture, Schultz introduced the “third place” concept—a comfortable communal social space between home and work. This vision successfully sparked massive global expansion, bringing Starbucks to the public market (IPO) in 1992, and turning it into the largest coffeehouse chain in the world.

Starbucks’ historic move in the capital market began on June 26, 1992, when the company officially conducted its IPO on the NASDAQ stock exchange under the ticker code SBUX. At that time, SBUX shares were offered at an initial price of $17 per share. The injection of funds from this IPO became the primary catalyst that funded the company’s massive expansion in both North America and global markets.

Along with its remarkable valuation growth over several decades, Starbucks stock has undergone 6 stock splits with a 2-for-1 ratio, cementing it as one of the most historically successful performing stocks in the food and beverage sector.

What is SBUXon and How Does it Work?

Starbucks Tokenized Stock (SBUXON), issued by platforms like Ondo Finance, is a crypto asset in the Real-World Asset (RWA) category whose value is pegged 1:1 to physical Starbucks stock (SBUX). As its foundation, the original shares are purchased and securely stored by licensed custodian institutions. To ensure price accuracy in the crypto market, this ecosystem relies heavily on the Chainlink oracle network and smart contracts, which synchronize price movements from traditional exchanges to the blockchain in real-time.

Issued on EVM-based blockchain networks (such as Ethereum), SBUXON introduces fractional ownership. This feature allows traders from all over the world to buy tiny fractions of Starbucks shares with far lower capital directly through Centralized Exchanges (CEX) like Pintu and Web3 wallets (non-custodial wallets) like MetaMask.

In practice, this tokenized stock offers much higher and more transparent trading flexibility compared to conventional systems. The entire process, from transaction execution to settlement, runs instantly without requiring multiple intermediary layers, thanks to smart contract automation.

SBUXon Metrics and Performance

According to data on rwa.xyz as of May 2026, Starbucks (Ondo Tokenized) shows stable growth with a Total Asset Value reaching $2.1 million (+7.53% in 30 days) and a Net Asset Value (NAV) of $106 (+9.13%). Since the initial surge in September 2025, its value trend has consistently moved upward and is currently held by 87 on-chain holders.

In terms of infrastructure, the market capitalization of this asset is heavily dominated by the Ethereum network ($2.1 million), with a very minimal portion on Solana and the BNB Chain. Meanwhile, the monthly transfer volume of $37.32 thousand (down 5.57%) indicates that investors currently prefer to hold the token rather than actively trade it.

SBUX Stock Performance from 1996 to 2026

Market Cap SBUX from 1996 to 2026

Based on data from Companiesmarketcap.com as of May 9, 2026, Starbucks’ market capitalization chart since 1996 shows an impressive long-term growth trend. After growing steadily until 2009, its valuation soared exponentially past $50 billion in the mid-2010s and peaked close to $150 billion in late 2021 to early 2022.

Although the market has experienced sharp volatility and fluctuations since 2022, Starbucks’ market capitalization has proven resilient. As of May 2026, its valuation stands strong at $119.58 billion, confirming its position as the 183rd most valuable company in the world.

Revenue SBUX from 1996 to 2025

As of 2025, Starbucks’ revenue chart since 1996 shows a consistent and solid historical growth trend. The revenue curve climbed steadily for over two decades, successfully surpassing the $10 billion mark in the late 2000s and breaking through $20 billion in the mid-2010s, proving its successful operational expansion.

The only significant decline in this trend occurred around 2020, but was quickly followed by a highly aggressive rebound. Revenue surged sharply past the $30 billion mark, eventually hitting a record high of $37.70 billion in 2025. This figure marks an impressive performance increase compared to the 2024 revenue of $36.14 billion.

P/E Ratio SBUX from 2001 to 2025

Starbucks’ Price-to-Earnings (P/E) ratio chart from 2001 to May 2026 predominantly shows stable movement at a low level. The only exception was an extreme anomaly during the 2013–2014 period, where the P/E ratio jumped dramatically near the 2,500 level before dropping drastically back to its normal range.

After sideways movement and slight fluctuations around 2020–2021, the P/E ratio has again shown a sharp upward trend recently. As of May 9, 2026, Starbucks’ P/E (TTM) ratio spiked significantly to touch 87.1, up drastically compared to its position at the end of 2024, which was only at the 28.9 level.

P/S Ratio SBUX from 2001 to 2025

Starbucks’ Price-to-Sales (P/S) ratio chart for the 2001–2026 period shows cyclical and volatile movement. After dropping below level 1 during the 2008–2009 crisis, the ratio gradually recovered and soared sharply, peaking above 5 in 2021.

After passing that peak, the P/S ratio fluctuated downwards and closed at 2.53 at the end of 2025. However, the latest data records an extreme anomaly: although the visual chart as of May 9, 2026, sits at 3.18, the latest financial report (TTM) actually shows that the P/S ratio plummeted drastically to the -14.3 level.

SBUX Stock Performance According to Experts on X

SBUX Breakout Signal to $160

According to the analysis by @Nebraskangooner on the X platform, $SBUX stock recently broke out of a massive consolidation pattern that had lasted for 8 years. This breakout signals the end of a long stagnation phase and the beginning of a potential strong uptrend.

The upside target projection is in the $160 range, which would bring the price to a new all-time high . However, this bullish momentum heavily relies on the price’s ability to consistently stay above the newly breached support trendline.

Institutional Analysis: TD Cowen Upgrades SBUX to $120

Quoting a tweet from the @wallstengine account on the X platform, TD Cowen officially upgraded its rating on $SBUX stock to “Buy” with a new price target (PT) of $120. The increase from the previous target of $106 is based on various tangible driving factors believed to trigger a positive revision in the company’s sales figures.

TD Cowen projects that heavy investments in labor will be compensated for by operational efficiencies, a lower cost of goods sold (COGS), as well as non-core cost-cutting measures. This optimism was immediately reflected in the pre-market price movement, which rose to $107.46, showcasing the market’s positive response to Starbucks’ future margin growth prospects.

Differences Between SBUX vs. SBUXon

Here are the differences between the traditional SBUX stock and the Ondo Tokenized Stock SBUXon:

Legality and Taxation of Starbucks Tokenized Stock (SBUXON)

Stock tokenization in Indonesia is currently legal but limited under the strict supervision of the Financial Services Authority (OJK) in accordance with Law Number 4 of 2023 (UU P2SK). This regulation categorizes digital assets resembling securities as Financial Sector Technological Innovations (ITSK), whose supervision has been transferred from Bappebti to OJK. Trading for the retail public is only allowed for platforms that have entered the Regulatory Sandbox or hold a special license from the relevant authorities.

Operationally, OJK Regulation (POJK) Number 3 of 2024 requires every financial asset tokenization organizer to go through a rigorous testing process to ensure consumer protection. Offering tokenized stocks without an official license is considered illegal because they must comply with transparency standards and ownership rights stipulated in Law Number 8 of 1995 concerning the Capital Market. Without compliance with these rules, these instruments have no valid operational legality within Indonesian jurisdiction.

From the taxation aspect in 2026, crypto asset investments in Indonesia refer to Minister of Finance Regulation (PMK) Number 50 of 2025, which officially took effect on August 1, 2025. Through this regulation, Value Added Tax (VAT) on the delivery of crypto assets is officially abolished, as crypto assets are now categorized as digital financial assets equated with securities, according to the mandate of Law Number 4 of 2023 (UU P2SK). Instead, every crypto asset investment is subject to a 0.21% Income Tax (PPh) collected through the trading organizer. The supervision of the crypto asset industry is now officially under the OJK, having replaced Bappebti since January 10, 2025.

Conclusion

SBUXON is a Real-World Asset (RWA) innovation that allows Starbucks stock to be traded on a blockchain network with 24/7 flexibility and a fractional ownership system. Amid positive analyst projections targeting the $120 to $160 price range, this asset offers access efficiency for digital investors compared to the traditional capital market system. However, this growth potential must remain aligned with an understanding of technological risks as well as compliance with OJK regulations to ensure consumer protection in Indonesia’s evolving investment ecosystem.

How to Buy Starbucks Tokenized Stocks (SBUXon) on Pintu?

On Pintu, purchasing SBUXon can start with a very affordable nominal amount, starting from just IDR 11,000, so users can gain exposure to Starbucks Corporation’s valuation without large capital.

Besides SBUXon, Pintu also provides various other tokenized stocks such as TLTon, MAon, and similar assets through the Market Tokenized Stocks page, enabling users to easily access diverse global stocks in an on-chain format.

Here is an easy way to buy SBUXon on Pintu:

1. Log in to the Pintu homepage.
2. Go to the Market page.
3. Search for and select the SBUXon crypto asset.
4. Enter the nominal amount you want to buy, and continue following the subsequent steps.

FAQ

What is Starbucks Tokenized Stock (SBUXON) and how is it different from regular Starbucks stock?

SBUXON is a digital version of Starbucks stock that runs on a blockchain. The main differences are that SBUXON can be bought fractionally (in small amounts), traded 24/7, and does not require a US brokerage account, unlike regular stock on the NASDAQ exchange which follows strict trading hours.

How does SBUXON work as an RWA issued by Ondo?

Ondo Finance purchases real Starbucks shares in the US capital market and stores them with a professional custodian. Afterward, they issue SBUXON tokens at a 1:1 ratio, ensuring the token’s price always tracks the price movement of the real Starbucks stock.

Is SBUXON safe and truly backed by real Starbucks shares?

SBUXON is fully backed by real shares as collateral (underlying asset). However, its security heavily relies on the credibility of Ondo Finance as the issuer and the technological security of the smart contracts used.

How do you buy and sell SBUXON on the Pintu app using Rupiah?

Open the Pintu app, ensure you have a Rupiah balance, search for the “SBUXON” asset in the search bar, then select “Buy” (Beli). You can enter the desired Rupiah nominal amount, and the transaction will be processed instantly.

What are the investment risks of SBUXON compared to buying Starbucks stock directly on a US exchange?

Besides the risk of stock price declines, SBUXON carries technological risks (potential bugs on the blockchain) and third-party risks (reliance on the Ondo/Pintu platforms). Unlike buying directly on a US exchange, this investment is not protected by traditional investor insurance schemes like SIPC in the United States.