Dutch Bros Inc Financials

BROS

Source SEC Filings (10-K/10-Q) Updated Feb 12, 2026 Currency USD FYE February

This page shows Dutch Bros Inc (BROS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Key Financial Metrics

Revenue

$1.5M

YoY-99.8%

Dutch Bros Inc generated $1.5M in revenue in fiscal year 2025. This represents a decrease of 99.8% from the prior year.

EBITDA

$276K

YoY-99.3%

Dutch Bros Inc's EBITDA was $276K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 99.3% from the prior year.

Free Cash Flow

$54K

YoY+100.0%

Dutch Bros Inc generated $54K in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 100.0% from the prior year.

Net Income

$80K

YoY+101.7%

Dutch Bros Inc reported $80K in net income in fiscal year 2025. This represents an increase of 101.7% from the prior year.

EPS (Diluted)

$0.64

YoY+811.1%

Dutch Bros Inc earned $0.64 per diluted share (EPS) in fiscal year 2025. This represents an increase of 811.1% from the prior year.

Cash & Debt

$269K

YoY-98.7%

Dutch Bros Inc held $269K in cash against $196K in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

127M

Dutch Bros Inc had 127M shares outstanding in fiscal year 2025.

Gross Margin

19.6%

YoY-4.9pp

Dutch Bros Inc's gross margin was 19.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 4.9 percentage points from the prior year.

Operating Margin

10.7%

YoY+11.0pp

Dutch Bros Inc's operating margin was 10.7% in fiscal year 2025, reflecting core business profitability. This is up 11.0 percentage points from the prior year.

Net Margin

5.3%

YoY+5.9pp

Dutch Bros Inc's net profit margin was 5.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 5.9 percentage points from the prior year.

Return on Equity

11.7%

Dutch Bros Inc's ROE was 11.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.

R&D Spending

N/A

Share Buybacks

Dutch Bros Inc spent $0 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

$241K

YoY-99.9%

Dutch Bros Inc invested $241K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 99.9% from the prior year.

BROS Income Statement

Metric	FY25	FY24	FY23	FY22	FY21
Revenue	$1.5M-99.8%	$739.0M+48.4%	$497.9M+52.1%	$327.4M+37.4%	$238.4M
Cost of Revenue	$1.2M-99.8%	$558.1M+62.0%	$344.6M+62.9%	$211.5M+48.6%	$142.3M
Gross Profit	$295K-99.8%	$180.9M+18.0%	$153.3M+32.2%	$115.9M+20.7%	$96.1M
R&D Expenses	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$263K-99.9%	$183.5M-30.6%	$264.5M+152.1%	$104.9M+59.6%	$65.8M
Operating Income	$161K+106.2%	-$2.6M+97.7%	-$111.2M-1111.1%	$11.0M-63.7%	$30.3M
Interest Expense	N/A	N/A	N/A	N/A	N/A
Income Tax	$18K-99.3%	$2.6M+259.6%	-$1.6M-293.1%	$843K+847.2%	$89K
Net Income	$80K+101.7%	-$4.8M+62.5%	-$12.7M	$0	$0
EPS (Diluted)	$0.64+811.1%	$-0.09+67.9%	$-0.28	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$443.6M+4.7%	$423.6M+1.9%	$415.8M+17.1%	$355.2M+39.8%	$254.1M-3.9%	$264.5M+5.9%	$249.9M+26.7%	$197.3M
Cost of Revenue	$336.5M+6.2%	$316.8M+7.1%	$295.8M+11.5%	$265.2M+36.0%	$195.0M+3.0%	$189.3M+6.0%	$178.6M+17.9%	$151.5M
Gross Profit	$107.1M+0.3%	$106.8M-11.1%	$120.0M+33.4%	$90.0M+52.2%	$59.1M-21.4%	$75.2M+5.5%	$71.2M+55.7%	$45.7M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$73.2M+12.1%	$65.3M-0.1%	$65.4M+11.0%	$58.9M+3.5%	$56.9M+12.8%	$50.5M-2.3%	$51.7M+12.4%	$46.0M
Operating Income	$34.0M-18.2%	$41.5M-24.1%	$54.7M+75.9%	$31.1M+1326.0%	$2.2M-91.2%	$24.7M+26.1%	$19.6M+8540.1%	-$232K
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$2.0M-74.1%	$7.7M+5.8%	$7.2M+396.4%	$1.5M+106.1%	$708K-61.3%	$1.8M-1.2%	$1.9M-28.3%	$2.6M
Net Income	$21.4M+22.1%	$17.5M-31.7%	$25.6M+66.9%	$15.4M+1195.1%	-$1.4M-133.3%	$4.2M+53.0%	$2.8M+171.6%	-$3.8M
EPS (Diluted)	$0.17+21.4%	$0.14-30.0%	$0.20+53.8%	$0.13+750.0%	$-0.02-128.6%	$0.07+40.0%	$0.05+171.4%	$-0.07

BROS Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21
Total Assets	$3.0M-99.7%	$1.2B+114.3%	$553.7M+113.2%	$259.7M	N/A
Current Assets	$357K-99.6%	$82.3M+34.3%	$61.3M-2.8%	$63.1M	N/A
Cash & Equivalents	$269K-98.7%	$20.2M+9.0%	$18.5M-41.5%	$31.6M	N/A
Inventory	$49K-99.9%	$39.2M+68.0%	$23.3M+49.8%	$15.6M	N/A
Accounts Receivable	$18K-99.8%	$12.0M+12.4%	$10.6M-1.8%	$10.8M	N/A
Goodwill	$22K-99.9%	$21.6M+15.6%	$18.7M+3.5%	$18.1M+9.3%	$16.5M
Total Liabilities	$2.1M-99.8%	$934.4M+174.8%	$340.0M+85.1%	$183.7M	N/A
Current Liabilities	$240K-99.9%	$212.7M+53.3%	$138.7M+131.7%	$59.9M	N/A
Long-Term Debt	$196K-99.8%	$96.3M+2649.0%	$3.5M-85.6%	$24.4M	N/A
Total Equity	$681K-99.7%	$252.0M+17.9%	$213.7M+175.8%	$77.5M	N/A
Retained Earnings	$100K+100.6%	-$17.3M-36.5%	-$12.7M	$0	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$3.0B+3.0%	$2.9B+3.9%	$2.8B+1.7%	$2.8B+56.8%	$1.8B+7.6%	$1.6B+19.8%	$1.4B+8.2%	$1.3B
Current Assets	$357.4M+4.8%	$341.1M+4.8%	$325.6M-15.0%	$382.9M+86.5%	$205.3M-7.3%	$221.4M+133.5%	$94.8M+16.6%	$81.3M
Cash & Equivalents	$269.4M+0.8%	$267.2M+5.0%	$254.4M-19.6%	$316.4M+137.0%	$133.5M-10.8%	$149.8M+531.6%	$23.7M+65.9%	$14.3M
Inventory	$48.9M+8.0%	$45.3M+6.8%	$42.4M+11.0%	$38.2M-18.6%	$47.0M-6.6%	$50.3M+5.6%	$47.6M+8.3%	$44.0M
Accounts Receivable	$18.4M+28.6%	$14.3M+5.7%	$13.5M+16.3%	$11.6M+27.5%	$9.1M-0.1%	$9.1M-2.6%	$9.4M+6.8%	$8.8M
Goodwill	$21.6M0.0%	$21.6M0.0%	$21.6M0.0%	$21.6M0.0%	$21.6M0.0%	$21.6M0.0%	$21.6M0.0%	$21.6M
Total Liabilities	$2.1B+2.6%	$2.1B+4.0%	$2.0B+0.5%	$2.0B+81.0%	$1.1B+12.4%	$968.4M-11.8%	$1.1B+8.1%	$1.0B
Current Liabilities	$240.5M+7.1%	$224.5M+12.8%	$198.9M+1.1%	$196.7M+42.4%	$138.1M+14.3%	$120.8M-58.9%	$294.1M+16.3%	$252.8M
Long-Term Debt	$196.3M+0.2%	$196.0M-0.4%	$196.8M-24.5%	$260.8M+179.9%	$93.2M+0.5%	$92.7M-1.9%	$94.5M-1.3%	$95.7M
Total Equity	$680.8M+3.7%	$656.6M-21.3%	$833.9M+4.7%	$796.3M+17.8%	$675.9M+0.8%	$670.6M+148.3%	$270.1M+8.6%	$248.7M
Retained Earnings	$99.5M+27.3%	$78.1M+28.8%	$60.6M+73.2%	$35.0M+324.6%	-$15.6M-9.9%	-$14.2M+22.9%	-$18.4M+13.0%	-$21.2M

BROS Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21
Operating Cash Flow	$296K-99.5%	$59.9M-25.5%	$80.4M+50.1%	$53.5M-5.6%	$56.7M
Capital Expenditures	$241K-99.9%	$187.9M+58.6%	$118.4M+191.9%	$40.6M+2.8%	$39.5M
Free Cash Flow	$54K+100.0%	-$128.0M-236.2%	-$38.1M-393.4%	$13.0M-24.7%	$17.2M
Investing Cash Flow	$241K+100.1%	-$192.6M-59.0%	-$121.1M-165.7%	-$45.6M-14.1%	-$39.9M
Financing Cash Flow	$78K-99.9%	$134.4M+387.2%	$27.6M+241.5%	$8.1M+163.7%	-$12.7M
Dividends Paid	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$0	$0-100.0%	$287.7M	$0	$0

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	N/A	N/A	N/A	$36.9M	N/A	N/A	N/A	$3.1M
Capital Expenditures	N/A	N/A	N/A	$45.6M	N/A	N/A	N/A	$43.3M
Free Cash Flow	N/A	N/A	N/A	-$8.7M	N/A	N/A	N/A	-$40.2M
Investing Cash Flow	N/A	N/A	N/A	-$45.5M	N/A	N/A	N/A	-$43.0M
Financing Cash Flow	N/A	N/A	N/A	$31.7M	N/A	N/A	N/A	$34.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

BROS Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21
Gross Margin	19.6%-4.9pp	24.5%-6.3pp	30.8%-4.6pp	35.4%-4.9pp	40.3%
Operating Margin	10.7%+11.0pp	-0.4%+22.0pp	-22.3%-25.7pp	3.4%-9.3pp	12.7%
Net Margin	5.3%+5.9pp	-0.6%+1.9pp	-2.5%-2.5pp	0.0%0.0pp	0.0%
Return on Equity	11.7%	N/A	N/A	N/A	N/A
Return on Assets	2.6%+3.0pp	-0.4%+1.9pp	-2.3%-2.3pp	0.0%	N/A
Current Ratio	1.49+1.1	0.39-0.1	0.44-0.6	1.05	N/A
Debt-to-Equity	0.29-0.1	0.38+0.4	0.02-0.3	0.31	N/A
FCF Margin	3.6%+20.9pp	-17.3%-9.7pp	-7.6%-11.6pp	4.0%-3.3pp	7.2%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	24.1%-1.1pp	25.2%-3.7pp	28.9%+3.5pp	25.3%+2.1pp	23.3%-5.2pp	28.4%-0.1pp	28.5%+5.3pp	23.2%
Operating Margin	7.7%-2.1pp	9.8%-3.4pp	13.2%+4.4pp	8.8%+7.9pp	0.9%-8.5pp	9.3%+1.5pp	7.8%+8.0pp	-0.1%
Net Margin	4.8%+0.7pp	4.1%-2.0pp	6.2%+1.8pp	4.3%+4.9pp	-0.5%-2.1pp	1.6%+0.5pp	1.1%+3.0pp	-1.9%
Return on Equity	3.1%+0.5pp	2.7%-0.4pp	3.1%+1.1pp	1.9%	N/A	0.6%-0.4pp	1.0%	N/A
Return on Assets	0.7%+0.1pp	0.6%-0.3pp	0.9%+0.4pp	0.6%+0.6pp	-0.1%-0.3pp	0.3%+0.1pp	0.2%+0.5pp	-0.3%
Current Ratio	1.49-0.0	1.52-0.1	1.64-0.3	1.95+0.5	1.49-0.3	1.83+1.5	0.320.0	0.32
Debt-to-Equity	0.29-0.0	0.30+0.1	0.24-0.1	0.33+0.2	0.140.0	0.14-0.2	0.35-0.0	0.38
FCF Margin	N/A	N/A	N/A	-2.4%	N/A	N/A	N/A	-20.4%

Financial Health Signals

Financial Profile 43/100

Profitability

Growth

Leverage

100

Liquidity

Cash Flow

Returns

Based on FY2025 annual data. Scores normalized against common benchmarks.

Altman Z-Score Safe

1835.27

Bankruptcy risk indicator. Above 2.99 = safe, below 1.81 = distress.

Piotroski F-Score Neutral

6/9

Financial strength trend (9 signals). 7-9 = strong, 0-3 = weak.

Earnings Quality Cash-Backed

3.70x

Operating cash flow vs net income. Above 1.0x = cash-backed earnings.

Similar Companies

Texas Roadhouse Inc TXRH

$12.0B

Dominos Pizza Inc DPZ

$12.9B

Yum China YUMC

$19.0B

Darden Restaurants Inc DRI

$24.5B

Restaurant Brand QSR

$22.9B

Frequently Asked Questions

What is Dutch Bros Inc's annual revenue?

Dutch Bros Inc (BROS) reported $1.5M in total revenue for fiscal year 2025. This represents a -99.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Dutch Bros Inc's revenue growing?

Dutch Bros Inc (BROS) revenue declined by 99.8% year-over-year, from $739.0M to $1.5M in fiscal year 2025.

Is Dutch Bros Inc profitable?

Yes, Dutch Bros Inc (BROS) reported a net income of $80K in fiscal year 2025, with a net profit margin of 5.3%.

What is Dutch Bros Inc's earnings per share (EPS)?

Dutch Bros Inc (BROS) reported diluted earnings per share of $0.64 for fiscal year 2025. This represents a 811.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Dutch Bros Inc's EBITDA?

Dutch Bros Inc (BROS) had EBITDA of $276K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Dutch Bros Inc have?

As of fiscal year 2025, Dutch Bros Inc (BROS) had $269K in cash and equivalents against $196K in long-term debt.

What is Dutch Bros Inc's gross margin?

Dutch Bros Inc (BROS) had a gross margin of 19.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Dutch Bros Inc's operating margin?

Dutch Bros Inc (BROS) had an operating margin of 10.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Dutch Bros Inc's net profit margin?

Dutch Bros Inc (BROS) had a net profit margin of 5.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Dutch Bros Inc's return on equity (ROE)?

Dutch Bros Inc (BROS) has a return on equity of 11.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Dutch Bros Inc's free cash flow?

Dutch Bros Inc (BROS) generated $54K in free cash flow during fiscal year 2025. This represents a 100.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Dutch Bros Inc's operating cash flow?

Dutch Bros Inc (BROS) generated $296K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Dutch Bros Inc's total assets?

Dutch Bros Inc (BROS) had $3.0M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Dutch Bros Inc's capital expenditures?

Dutch Bros Inc (BROS) invested $241K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Dutch Bros Inc have outstanding?

Dutch Bros Inc (BROS) had 127M shares outstanding as of fiscal year 2025.

What is Dutch Bros Inc's current ratio?

Dutch Bros Inc (BROS) had a current ratio of 1.49 as of fiscal year 2025, which is considered adequate.

What is Dutch Bros Inc's debt-to-equity ratio?

Dutch Bros Inc (BROS) had a debt-to-equity ratio of 0.29 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Dutch Bros Inc's return on assets (ROA)?

Dutch Bros Inc (BROS) had a return on assets of 2.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Dutch Bros Inc's Altman Z-Score?

Dutch Bros Inc (BROS) has an Altman Z-Score of 1835.27, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress.

What is Dutch Bros Inc's Piotroski F-Score?

Dutch Bros Inc (BROS) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals.

Are Dutch Bros Inc's earnings high quality?

Dutch Bros Inc (BROS) has an earnings quality ratio of 3.70x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation.

How financially healthy is Dutch Bros Inc?

Dutch Bros Inc (BROS) scores 43 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks.