BROS - Dutch Bros Inc.
Price:
--
--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$74.85
DETAILS
HIGH:
$87.00
LOW:
$61.00
MEDIAN:
$75.00
CONSENSUS:
$74.85
UPSIDE:
43.61%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|
| Revenue | |||||||
| Revenue | 1,638.2 | 1,281.0 | 965.8 | 739.0 | 497.9 | 327.4 | 238.4 |
| Cost of Revenue | 1,214.2 | 940.9 | 714.5 | 558.1 | 344.6 | 211.5 | 142.3 |
| Gross Profit | 423.9 | 340.1 | 251.3 | 180.9 | 153.3 | 115.9 | 96.1 |
| Operating Expenses | |||||||
| R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| SG&A Expenses | 259.4 | 234.0 | 205.1 | 183.5 | 264.5 | 104.9 | 65.8 |
| Other Expenses | 3.4 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Expenses | 262.8 | 234.0 | 205.1 | 183.5 | 264.5 | 104.9 | 65.8 |
| Operating Income | |||||||
| Operating Income | 161.2 | 106.1 | 46.2 | (2.6) | (111.2) | 11 | 30.3 |
| Interest Expense | 28.3 | 27.0 | 32.3 | 18.0 | 7.1 | 3.7 | 2.3 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profitability | |||||||
| EBITDA | 279.1 | 204.9 | 118.4 | 46.1 | (87.2) | 26.2 | 40.5 |
| EBIT | 163.9 | 111.9 | 49.2 | 1.4 | (112.5) | 10.6 | 30.8 |
| Income Before Tax | 135.6 | 84.9 | 16.9 | (16.7) | (119.6) | 6.9 | 28.5 |
| Income Tax Expense | 18.3 | 18.4 | 7.0 | 2.6 | (1.6) | 1.2 | 0.1 |
| Net Income | 79.8 | 35.3 | 1.7 | (4.8) | (12.7) | 5.7 | 28.4 |
| Per Share Data | |||||||
| EPS (Basic) | 0.64 | 0.31 | 0.03 | -0.09 | -0.28 | – | 0.61 |
| EPS (Diluted) | 0.63 | 0.31 | 0.03 | -0.09 | -0.28 | – | 0.61 |
| Shares Outstanding | 125.3 | 114.2 | 62.1 | 51.9 | 45.9 | 46.7 | 46.7 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|
| Current Assets | |||||||
| Cash & Cash Equivalents | 269.4 | 293.4 | 133.5 | 20.2 | 18.5 | 31.6 | 15.6 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 18.4 | 10.6 | 9.1 | 12.0 | 10.6 | 10.8 | 6.6 |
| Inventory | 48.9 | 36.5 | 47.0 | 39.2 | 23.3 | 15.6 | 10.9 |
| Other Current Assets | 20.7 | 17.5 | 15.6 | 10.9 | 0 | 5.0 | 3.7 |
| Total Current Assets | 357.4 | 357.9 | 205.3 | 82.3 | 61.3 | 63.1 | 36.8 |
| Non-Current Assets | |||||||
| Property, Plant & Equipment | 1,679.8 | 1,373.8 | 1,124.8 | 782.7 | 302.0 | 165.4 | 103.2 |
| Goodwill | 21.6 | 21.6 | 21.6 | 21.6 | 18.7 | 18.1 | 16.5 |
| Intangible Assets | 1.5 | 2.9 | 5.4 | 8.8 | 11.1 | 11.3 | 10.5 |
| Long-Term Investments | 0.0 | 0.8 | 0.8 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 2.3 | 1.8 | 3.0 | 2.1 | 1.6 | 1.6 | 1.2 |
| Total Non-Current Assets | 2,651.9 | 2,143.1 | 1,558.8 | 1,104.0 | 492.4 | 196.6 | 131.4 |
| Total Assets | 3,009.3 | 2,501.1 | 1,764.0 | 1,186.4 | 553.7 | 259.7 | 168.3 |
| Current Liabilities | |||||||
| Account Payables | 37.6 | 32.2 | 30.0 | 21.3 | 20.4 | 16.1 | 13.0 |
| Short-Term Debt | 40.3 | 17.3 | 4.5 | 113.5 | 64.2 | 21.1 | 4.2 |
| Deferred Revenue | 55.7 | 42.9 | 30.3 | 25.3 | 22.8 | 11.2 | 7.5 |
| Other Current Liabilities | 56.6 | 7.1 | 22.2 | 25.6 | 6.9 | 11.5 | 8.2 |
| Total Current Liabilities | 240.5 | 203.1 | 138.1 | 212.7 | 138.7 | 59.9 | 32.9 |
| Non-Current Liabilities | |||||||
| Long-Term Debt | 196.3 | 219.8 | 93.2 | 96.3 | 3.5 | 74.0 | 22.9 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 813.4 | 627.8 | 290.9 | 220.9 | 113.1 | 45.1 | 9.6 |
| Total Non-Current Liabilities | 1,870.9 | 1,534.1 | 950.0 | 721.7 | 201.2 | 123.8 | 57.4 |
| Total Liabilities | 2,111.4 | 1,737.2 | 1,088.1 | 934.4 | 340.0 | 183.7 | 90.3 |
| Stockholders' Equity | |||||||
| Common Stock | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | (1,459.8) | (859.7) |
| Retained Earnings | 99.5 | 19.7 | (15.6) | (17.3) | (12.7) | 0 | 0 |
| Accumulated Other Comprehensive Income | 0.0 | 0.6 | 0.5 | 0.8 | 0 | 0 | 0 |
| Total Stockholders' Equity | 680.8 | 537.4 | 364.3 | 129.1 | 94.5 | 76.0 | 78.0 |
| Total Liabilities & Equity | 3,009.3 | 2,501.1 | 1,764.0 | 1,186.4 | 553.7 | 259.7 | 168.3 |
| Debt Metrics | |||||||
| Total Debt | 1,089.0 | 942.9 | 676.6 | 625.4 | 150.7 | 95.1 | 47.9 |
| Net Debt | 819.6 | 649.6 | 543.0 | 605.2 | 132.2 | 63.5 | 32.3 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||
| Net Income | 117.3 | 66.5 | 1.7 | (19.3) | (120.0) | 5.7 | 28.4 |
| Depreciation & Amortization | 115.1 | 93.0 | 47.8 | 44.7 | 25.2 | 15.5 | 9.7 |
| Stock-Based Compensation | 18.0 | 11.5 | 39.2 | 41.7 | 157.7 | 35.1 | 6.8 |
| Change in Working Capital | 9.7 | 46.9 | 6.0 | (15.1) | 17.9 | (3.4) | 11.6 |
| Other Non-Cash Items | 17.8 | 13.2 | 39.2 | 6.8 | 2.2 | 0.1 | 0.3 |
| Operating Cash Flow | 295.5 | 246.4 | 139.9 | 59.9 | 80.4 | 53.5 | 56.7 |
| Investing Activities | |||||||
| Capital Expenditure | (241.1) | (221.7) | (228.5) | (187.9) | (118.4) | (40.6) | (39.5) |
| Acquisitions | 0 | 0 | 0 | (6.1) | (5.4) | (5.1) | (0.5) |
| Purchases of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Sales/Maturities of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing Activities | 0.1 | 9.7 | 1.2 | 1.4 | 2.7 | 0.1 | 0.0 |
| Investing Cash Flow | (241.1) | (212.1) | (227.3) | (192.6) | (121.1) | (45.6) | (39.9) |
| Financing Activities | |||||||
| Net Debt Issuance | (54.3) | 128.4 | (126.1) | 141.3 | 21.2 | 15.8 | (6.1) |
| Stock Repurchased | 0 | (1.1) | 0 | (3.9) | (287.7) | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | (213.3) | (7.8) | (6.6) |
| Other Financing Activities | (24.1) | (1.9) | (4.4) | (3.0) | (17.5) | 0 | 0 |
| Financing Cash Flow | (78.4) | 125.4 | 200.7 | 134.4 | 27.6 | 8.1 | (12.7) |
| Cash Position | |||||||
| Net Change in Cash | (23.9) | 159.8 | 113.4 | 1.7 | (13.1) | 16.1 | 4.1 |
| Cash at Beginning | 293.4 | 133.5 | 20.2 | 18.5 | 31.6 | 15.6 | 11.5 |
| Cash at End | 269.4 | 293.4 | 133.5 | 20.2 | 18.5 | 31.6 | 15.6 |
| Free Cash Flow | 54.4 | 24.7 | (88.5) | (128.0) | (38.1) | 13.0 | 17.2 |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|
| Income Statement | |||||||
| Revenue | 1,638.2 | 1,281.0 | 965.8 | 739.0 | 497.9 | 327.4 | 238.4 |
| Gross Profit | 423.9 | 340.1 | 251.3 | 180.9 | 153.3 | 115.9 | 96.1 |
| Operating Income | 161.2 | 106.1 | 46.2 | (2.6) | (111.2) | 11 | 30.3 |
| Net Income | 79.8 | 35.3 | 1.7 | (4.8) | (12.7) | 5.7 | 28.4 |
| EPS (Diluted) | 0.63 | 0.31 | 0.03 | -0.09 | -0.28 | – | 0.61 |
| Balance Sheet | |||||||
| Cash & Equivalents | 269.4 | 293.4 | 133.5 | 20.2 | 18.5 | 31.6 | 15.6 |
| Total Assets | 3,009.3 | 2,501.1 | 1,764.0 | 1,186.4 | 553.7 | 259.7 | 168.3 |
| Total Debt | 1,089.0 | 942.9 | 676.6 | 625.4 | 150.7 | 95.1 | 47.9 |
| Stockholders' Equity | 680.8 | 537.4 | 364.3 | 129.1 | 94.5 | 76.0 | 78.0 |
| Cash Flow | |||||||
| Operating Cash Flow | 295.5 | 246.4 | 139.9 | 59.9 | 80.4 | 53.5 | 56.7 |
| Capital Expenditure | (241.1) | (221.7) | (228.5) | (187.9) | (118.4) | (40.6) | (39.5) |
| Free Cash Flow | 54.4 | 24.7 | (88.5) | (128.0) | (38.1) | 13.0 | 17.2 |