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Financials · BROS

Dutch Bros Inc. (BROS) financials

For the twelve months ended Sep 30, 2026, Dutch Bros Inc. reported $2.01B of revenue and $102.03M of net income.

Revenue, TTM
$2.01B
Revenue growth, YoY
+30.7%
Net income, TTM
$102.03M
Net income growth, YoY
+64.3%
Net margin
5.1%
Free cash flow, TTM
$90.93M
EPS, diluted, TTM
$0.78
Cash
$194.61M
Total debt
$197.64M
P/E
61.64
P/S
3.13
Market cap
$6.29B
Annual revenue$1.64B
FY2019FY2025
Annual net income$79.84M
FY2019FY2025
Annual free cash flow$54.41M
FY2019FY2025

BROS revenue and earnings growth

BROS revenueQ3 2026$549.84M

Quarter YoY
+29.8%
QoQ
-0.2%
FY YoY
+27.9%
5Y CAGR
+38.0%

BROS revenue was $549.84M in fiscal Q3 2026 (ended Sep 30, 2026), up 29.8% from a year earlier and down 0.2% from the prior quarter. For the full fiscal 2025 it was $1.64B, up 27.9% from fiscal 2024. Compound annual growth was +38.0% over 5 years. It rose in each of the last 6 fiscal years. Fiscal 2025 is the highest of the 7 fiscal years on file.

BROS net incomeQ3 2026$27.16M

Quarter YoY
+55.2%
QoQ
-27.4%
FY YoY
+126.5%

BROS net income was $27.16M in fiscal Q3 2026 (ended Sep 30, 2026), up 55.2% from a year earlier and down 27.4% from the prior quarter. For the full fiscal 2025 it was $79.84M, up 126.5% from fiscal 2024. Fiscal 2025 is the highest of the 7 fiscal years on file.

BROS EPSQ3 2026$0.20

Quarter YoY
+42.9%
QoQ
-28.6%
FY YoY
+88.2%

BROS diluted EPS was $0.20 in fiscal Q3 2026 (ended Sep 30, 2026), up 42.9% from a year earlier and down 28.6% from the prior quarter. For the full fiscal 2025 it was $0.64, up 88.2% from fiscal 2024.

BROS free cash flowQ3 2026$14.81M

Quarter YoY
-21.7%
QoQ
-62.9%
FY YoY
+120.3%
5Y CAGR
+33.2%

BROS free cash flow was $14.81M in fiscal Q3 2026 (ended Sep 30, 2026), down 21.7% from a year earlier and down 62.9% from the prior quarter. For the full fiscal 2025 it was $54.41M, up 120.3% from fiscal 2024. Compound annual growth was +33.2% over 5 years. Fiscal 2025 is the highest of the 7 fiscal years on file.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
Revenue$1.64B$1.28B$965.78M$739.01M$497.88M$327.41M$238.37M
Cost of revenue$1.21B$940.89M$714.48M$558.10M$344.57M$211.48M$142.31M
Gross profit$423.95M$340.13M$251.30M$180.92M$153.30M$115.94M$96.06M
Selling, general and admin$262.77M$234.04M$205.07M$183.53M$264.53M$104.94M$65.76M
Operating income$161.18M$106.09M$46.22M-$2.61M-$111.23M$11.00M$30.30M
Pre-tax income$135.62M$84.89M$16.92M----
Income tax$18.35M$18.43M$6.97M$2.60M-$1.63M$843.0K$89.0K
Net income$79.84M$35.26M$1.72M-$4.75M-$12.68M$0$0
EPS, basic$0.64$0.34$0.03-$0.09-$0.28--
EPS, diluted$0.64$0.34$0.03-$0.09-$0.28--
Diluted shares125.8M104.1M62.1M51.9M45.9M--

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
Cash and equivalents$269.40M$293.35M$133.54M$20.18M$18.51M$31.64M$15.58M
Receivables$18.39M$10.60M$9.12M$11.97M$10.64M$10.84M-
Inventory$48.92M$36.49M$46.95M$39.23M$23.34M$15.58M-
Current assets$357.38M$357.94M$205.26M$82.32M$61.29M$63.07M-
Goodwill$21.63M$21.63M$21.63M$21.63M$18.71M$18.07M$16.53M
Total assets$3.01B$2.50B$1.76B$1.19B$553.70M$259.66M-
Current liabilities$240.50M$203.07M$138.12M$212.68M$138.73M$59.87M-
Short-term debt$3.88M$17.31M$4.49M$2.61M$103.0K$3.79M-
Long-term debt$196.29M$219.75M$93.17M$96.30M$3.50M$24.37M-
Total debt$200.18M$237.07M$97.67M$98.91M$3.61M$28.16M-
Total liabilities$2.11B$1.74B$1.09B$934.38M$339.97M$183.67M-
Shareholders' equity$680.82M$763.87M$675.92M$251.98M$213.73M$77.49M-

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
Operating cash flow$295.55M$246.43M$139.91M$59.88M$80.38M$53.55M$56.70M
Capital expenditures$241.13M$221.74M$228.46M$187.88M$118.44M$40.58M$39.47M
Free cash flow$54.41M$24.69M-$88.54M-$128.00M-$38.07M$12.97M$17.24M
Investing cash flow-$241.07M-$212.07M-$227.28M-$192.57M-$121.09M-$45.57M-$39.95M
Financing cash flow-$78.43M$125.45M$200.73M$134.36M$27.58M$8.08M-$12.68M
Stock-based compensation$18.02M$11.48M$39.22M$41.66M$157.72M$35.09M$6.76M
Depreciation and amortization$115.13M$93.00M$69.14M$44.73M$25.22M$15.54M$9.67M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
Revenue growth, YoY27.9%32.6%30.7%48.4%52.1%37.4%-
Net income growth, YoY126.5%1952.3%-----
EPS growth, YoY88.2%------
Gross margin25.9%26.6%26.0%24.5%30.8%35.4%40.3%
Operating margin9.8%8.3%4.8%-0.4%-22.3%3.4%12.7%
Net margin4.9%2.8%0.2%-0.6%-2.5%0.0%0.0%
Free cash flow margin3.3%1.9%-9.2%-17.3%-7.6%4.0%7.2%
Return on equity11.7%4.6%0.3%-1.9%-5.9%0.0%-
Return on assets2.7%1.4%0.1%-0.4%-2.3%0.0%-
Current ratio1.491.761.490.390.441.05-
Debt to equity0.290.310.140.390.020.36-

Source: XBRL data Dutch Bros Inc. files with the SEC, latest filing dated Nov 5, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

BROS peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
BROS$2.01B+30.7%$102.03M5.1%$6.29B
MCD$27.78B+5.8%$8.99B32.4%$199.16B
SBUX$38.34B+4.5%$1.98B5.2%$124.76B
CMG$12.71B+7.9%$1.38B10.8%$45.22B
YUM$8.80B+9.1%$3.44B39.1%$43.90B
QSR$9.78B+5.5%$1.76B18.1%$34.98B
DRI$13.37B+8.1%$1.18B8.8%$26.00B
YUMC$12.71B+9.9%$1.00B7.9%$16.82B
ARMK$19.85B+11.0%$382.91M1.9%$14.43B

BROS FAQ

9 questions
  • What is BROS revenue?
    Dutch Bros Inc. (BROS) reported $2.01B of revenue for the twelve months ended Sep 30, 2026. That is up 30.7% from the year before. Revenue for fiscal 2025 was $1.64B.
  • Is BROS profitable?
    Yes. Dutch Bros Inc. earned $102.03M in net income for the twelve months ended Sep 30, 2026, a net margin of 5.1%.
  • How much cash and debt does BROS have?
    Dutch Bros Inc. reported $194.61M in cash and cash equivalents and $197.64M of debt on its most recent balance sheet in SEC filings.
  • How fast is BROS revenue growing?
    Dutch Bros Inc.'s revenue changed +27.9% in fiscal 2025, to $1.64B. Its compound annual growth rate was +38.0% over 5 years.
  • What is BROS gross margin?
    Dutch Bros Inc.'s gross profit was $497.43M on $2.01B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 24.8%.
  • What is BROS free cash flow?
    Dutch Bros Inc. generated $90.93M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $376.67M less capital expenditures.
  • What is BROS earnings per share?
    Diluted earnings per share were $0.78 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did BROS last report financial results?
    The latest statements here come from Dutch Bros Inc.'s 10-Q filed on Nov 5, 2026, covering the period ended Sep 30, 2026.
  • Where does this BROS financial data come from?
    Quantisnow builds these statements from the structured XBRL data Dutch Bros Inc. files with the SEC. It is provided for information only and is not investment advice.