Dutch Bros Inc. logo BROS - Dutch Bros Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 21
HOLD 1
SELL 0
STRONG
SELL
0
| PRICE TARGET: $74.85 DETAILS
HIGH: $87.00
LOW: $61.00
MEDIAN: $75.00
CONSENSUS: $74.85
UPSIDE: 43.61%
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1
Revenue
Revenue 464.4 443.6 423.6 415.8 355.2 342.8 338.2 324.9 275.1 254.1 264.5 249.9 197.3 201.8 198.6 186.4 152.2 140.1 129.8 129.2 98.8 89.9 86.7 75.4 75.4
Cost of Revenue 358.4 336.5 316.8 295.8 265.2 254.8 248.2 234.6 203.3 195.0 189.3 178.6 151.5 147.5 148.1 141.4 121.2 106.2 90.8 81.5 66.5 64.2 52.5 47.5 47.5
Gross Profit 106.0 107.1 106.8 120.0 90.0 87.9 90.1 90.3 71.8 59.1 75.2 71.2 45.7 54.4 50.6 45.0 31.0 33.8 39.0 47.7 32.3 25.7 34.2 28.0 28.0
Operating Expenses
R&D Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
SG&A Expenses 70.1 71.9 64.4 65.4 58.9 72.2 57.5 58.1 46.2 56.9 50.5 51.7 46.0 50.6 45.4 42.3 45.2 41.4 153.7 33.5 36.0 30.6 26.2 24.1 24.1
Other Expenses 0 1.2 0.9 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Operating Expenses 70.1 73.2 65.3 65.4 58.9 72.2 57.5 58.1 46.2 56.9 50.5 51.7 46.0 50.6 45.4 42.3 45.2 41.4 153.7 33.5 36.0 30.6 26.2 24.1 24.1
Operating Income
Operating Income 35.9 34.0 41.5 54.7 31.1 15.8 32.5 32.2 25.6 2.2 24.7 19.6 (0.2) 3.8 5.2 2.7 (14.2) (7.6) (114.7) 14.3 (3.7) (4.9) 8.0 3.8 3.8
Interest Expense (7.2) 7.4 6.7 6.8 7.1 6.8 6.9 7.0 6.4 6.1 9.3 9.1 7.9 6.9 5.0 3.6 2.5 1.8 2.4 1.8 1.0 1.1 0.9 0.8 0.8
Interest Income 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Profitability
EBITDA 66.7 70.3 70.7 73.5 57.5 39.8 57.2 55.4 52.6 22.7 42.7 37.1 15.9 22.6 15.0 13.3 (4.8) (0.3) (109.0) 19.9 1.6 (0.2) 11.7 7.4 7.4
EBIT 35.9 38.6 41.6 52.4 31.1 14.2 33.3 33.0 31.4 3.0 24.6 20.6 1.1 9.4 3.2 2.7 (14.0) (7.7) (115.7) 14.2 (3.8) (4.6) 7.6 3.8 3.8
Income Before Tax 27.0 31.1 34.9 45.6 23.9 7.5 26.4 26.0 25.0 (3.1) 15.2 11.6 (6.8) 2.5 (1.8) (0.9) (16.5) (9.6) (118.1) 12.4 (4.8) (5.7) 6.7 2.8 2.8
Income Tax Expense 3.3 2.0 7.7 7.2 1.5 1.1 4.7 3.9 8.8 0.7 1.8 1.9 2.6 5.3 (3.4) 0.9 (0.2) (0.9) (1.3) 0.5 0.0 0.5 0 0.2 0.2
Net Income 16.1 21.4 17.5 25.6 15.4 3.6 12.6 11.9 7.1 (1.4) 4.2 2.8 (3.8) (0.7) 1.8 (0.9) (4.9) (6.2) (85.5) 11.9 (4.8) (6.2) 6.7 2.6 2.6
Per Share Data
EPS (Basic) 0.13 0.17 0.14 0.20 0.13 0.03 0.11 0.12 0.08 -0.02 0.07 0.05 -0.07 -0.01 0.03 -0.02 -0.10 -0.12 -0.25 0.25 -0.10 -0.13 0.14 0.06 0.05
EPS (Diluted) 0.13 0.17 0.14 0.20 0.13 0.03 0.11 0.12 0.08 -0.02 0.07 0.05 -0.07 -0.01 0.03 -0.02 -0.10 -0.12 -0.23 0.25 -0.10 -0.13 0.14 0.06 0.05
Shares Outstanding 127.1 127.0 127.0 126.4 120.8 114.7 113.8 102.0 83.3 75.4 59.4 56.7 56.7 55.3 53.1 50.9 48.1 45.9 45.0 46.8 46.7 46.7 46.7 48.3 49.1
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q1
Current Assets
Cash & Cash Equivalents 263.5 269.4 267.2 254.4 316.4 293.4 281.1 260.9 262.7 133.5 149.8 23.7 14.3 20.2 34.6 21.3 26.8 18.5 25.9 19.6 (31.6) 31.6 (15.6)
Short-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 63.3 0 31.2
Net Receivables 18.8 18.4 14.3 13.5 11.6 10.6 10.4 12.3 11.7 9.1 9.1 9.4 8.8 12.0 14.4 14.1 12.9 10.6 11.0 12.1 0 10.8 0
Inventory 37.4 48.9 45.3 42.4 38.2 36.5 38.4 46.7 45.4 47.0 50.3 47.6 44.0 39.2 33.7 32.9 26.9 23.3 18.5 13.3 0 15.6 0
Other Current Assets 20.8 20.7 14.3 15.2 16.6 17.5 12.2 14.7 15.3 15.6 12.2 14.1 14.3 10.9 0 0 0 0 0 4.3 0 0 0
Total Current Assets 340.5 357.4 341.1 325.6 382.9 357.9 342.0 334.6 335.1 205.3 221.4 94.8 81.3 82.3 93.8 75.3 72.4 61.3 62.5 49.3 31.6 63.1 15.6
Non-Current Assets
Property, Plant & Equipment 1,797.5 1,679.8 1,597.8 1,505.6 1,423.9 1,373.8 1,342.2 1,291.3 1,200.6 1,124.8 1,054.3 957.0 866.1 782.7 708.2 617.6 554.7 302.0 250.1 204.6 0 165.4 0
Goodwill 21.6 21.6 21.6 21.6 21.6 21.6 21.6 21.6 21.6 21.6 21.6 21.6 21.6 21.6 21.6 21.6 21.6 18.7 18.7 18.2 0 18.1 0
Intangible Assets 1.3 1.5 1.8 2.0 2.4 2.9 3.5 4.0 4.6 5.4 6.2 7.0 7.9 8.8 9.8 10.9 11.9 11.1 12.1 11.3 0 11.3 0
Long-Term Investments 0 0.0 0.1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Assets 1.0 2.3 9.9 2.2 4.3 2.6 3.6 4.1 4.1 3.9 5.2 3.1 1.7 2.1 2.7 0.8 0.4 1.6 1.6 1.8 (31.6) 1.8 (15.6)
Total Non-Current Assets 2,764.8 2,651.9 2,580.9 2,486.7 2,382.3 2,143.1 2,089.5 2,042.7 1,738.2 1,558.8 1,417.6 1,273.5 1,183.7 1,104.0 1,035.5 874.3 812.1 492.4 441.1 235.9 (31.6) 196.6 (15.6)
Total Assets 3,105.3 3,009.3 2,922.0 2,812.2 2,765.2 2,501.1 2,431.5 2,377.3 2,073.3 1,764.0 1,639.0 1,368.3 1,265.0 1,186.4 1,129.3 949.5 884.5 553.7 503.6 285.2 0 259.7 0
Current Liabilities
Account Payables 41.7 37.6 38.2 33.6 31.6 32.2 31.9 36.1 38.8 30.0 27.7 24.6 24.1 21.3 27.0 22.5 21.8 20.4 24.6 18.6 0 16.1 0
Short-Term Debt 43.0 40.3 3.9 3.9 22.6 17.3 15.7 14.2 12.6 4.5 3.9 184.3 153.6 113.5 88.4 48.2 27.5 64.2 34.2 33.0 0 18.8 0
Deferred Revenue 56.5 55.7 45.6 43.5 39.7 42.9 35.7 31.4 29.1 30.3 22.4 22.3 21.8 25.3 28.8 27.0 23.8 22.8 17.2 14.5 0 11.2 0
Other Current Liabilities 71.5 56.6 64.2 56.2 52.0 56.9 45.1 37.7 28.7 37.8 7.6 7.5 7.3 25.6 6.9 6.6 6.7 6.9 5.0 20.9 0 1.4 0
Total Current Liabilities 255.2 240.5 224.5 198.9 196.7 203.1 180.4 153.1 146.5 138.1 120.8 294.1 252.8 212.7 190.4 139.5 112.7 138.7 102.0 87.1 0 59.9 0
Non-Current Liabilities
Long-Term Debt 195.4 196.3 196.0 196.8 260.8 219.8 224.4 229.0 233.6 93.2 92.7 94.5 95.7 96.3 96.9 97.5 97.3 3.5 2.0 191.7 0 24.4 0
Deferred Tax Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2.7 0
Other Non-Current Liabilities 806.4 813.4 825.3 823.9 794.3 627.8 611.4 605.0 395.8 290.9 219.2 218.8 219.6 220.9 226.5 165.1 165.1 113.1 113.3 68.3 0 42.3 0
Total Non-Current Liabilities 1,929.6 1,870.9 1,832.5 1,779.4 1,772.2 1,534.1 1,498.4 1,494.4 1,230.8 950.0 847.6 804.1 763.4 721.7 695.1 586.8 558.4 201.2 192.0 325.4 0 123.8 0
Total Liabilities 2,184.8 2,111.4 2,057.0 1,978.3 1,968.9 1,737.2 1,678.8 1,647.5 1,377.4 1,088.1 968.4 1,098.2 1,016.3 934.4 885.5 726.3 671.1 340.0 294.0 412.5 0 183.7 0
Stockholders' Equity
Common Stock 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 (1,837.9) 0 0 0
Retained Earnings 115.6 99.5 78.1 60.6 35.0 19.7 0 3.4 (8.5) (15.6) (14.2) (18.4) (21.2) (17.3) (16.6) (18.1) (17.2) (12.7) (6.7) 0 0 0 0
Accumulated Other Comprehensive Income 0.1 0.0 0.2 0.3 0.4 0.6 0.3 1.1 0.9 0.5 1.1 0.9 0.6 0.8 0.8 0.1 0 0 0 0 (1,459.8) 0 (859.7)
Total Stockholders' Equity 696.4 680.8 656.6 636.2 599.1 537.4 523.1 509.1 417.1 364.3 331.7 135.4 128.3 129.1 125.7 108.5 105.4 94.5 94.9 (127.3) (1,459.8) 76.0 (859.7)
Total Liabilities & Equity 3,105.3 3,009.3 2,922.0 2,812.2 2,765.2 2,501.1 2,431.5 2,377.3 2,073.3 1,764.0 1,639.0 1,368.3 1,265.0 1,186.4 1,129.3 949.5 884.5 553.7 503.6 285.2 (1,459.8) 259.7 (859.7)
Debt Metrics
Total Debt 1,160.4 1,089.0 1,036.6 980.9 1,021.2 942.9 928.6 910.8 861.4 676.6 645.6 783.1 709.0 625.4 568.3 479.6 429.4 150.7 111.6 285.0 0 95.1 0
Net Debt 896.8 819.6 769.4 726.5 704.8 649.6 647.5 649.9 598.6 543.0 495.8 759.4 694.7 605.2 533.7 458.3 402.6 132.2 85.7 265.4 31.6 63.5 15.6
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1
Operating Activities
Net Income 16.1 29.2 27.3 38.4 22.5 6.4 21.7 22.2 16.2 (1.4) 13.4 9.7 (9.4) (2.8) 1.6 (1.8) (16.3) (8.7) (116.8) 11.9 (4.8) (6.2) 6.7 2.6 2.6
Depreciation & Amortization 30.8 31.7 29.1 27.9 26.4 25.5 23.9 22.4 21.3 19.7 18.1 16.5 14.8 13.2 11.8 10.5 9.2 7.5 6.7 5.7 5.3 4.4 4.1 3.5 3.5
Stock-Based Compensation 0 4.5 4.6 4.7 4.2 3.3 3.0 3.3 1.9 0 9.7 10.1 9.2 10.7 10.6 10.4 9.9 10.0 124.8 8.3 14.7 11.7 9.8 6.8 6.8
Change in Working Capital 7.7 9.9 15.2 6.7 (22.2) 18.9 27.3 5.1 (4.5) 15.9 2.8 2.4 (15.0) (6.1) 1.1 (4.3) (5.8) 0.3 0.8 14.6 0.6 0.7 1.1 0.2 0.2
Other Non-Cash Items 27.1 1.3 5.6 6.0 5.0 8.1 3.9 3.3 (2.1) 10.5 3.5 2.1 1.4 (2.6) 4.6 2.1 2.7 0.1 2.2 0.2 (0.2) 0.0 0.0 (2.7) (2.7)
Operating Cash Flow 84.7 79.6 89.1 89.9 36.9 62.2 83.5 59.5 41.2 45.0 49.1 42.8 3.1 17.1 26.1 17.5 (0.8) 8.1 16.1 40.7 15.5 10.9 21.8 10.4 10.4
Investing Activities
Capital Expenditure (57) (71.2) (70.2) (54.2) (45.6) (42.8) (57.1) (64.4) (57.5) (60.7) (65.4) (59.0) (43.3) (53.2) (50.8) (43.9) (40.0) (44.3) (39.2) (27.0) (7.9) (15.0) (11.1) (7.2) (7.2)
Acquisitions 0 0 0 0 0 0 0 0 0 0.9 0 0.0 0 0 0 0 (6.1) 0 (2.9) (2.5) 0 (5.1) 0 0 0
Purchases of Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Sales/Maturities of Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Investing Activities 0 0.0 0 0.0 0.0 0.1 0.9 8.7 0 0 0.0 0.0 0.2 0.1 0 1.3 0.0 0.0 1.7 0.1 0.9 0.0 0.1 0 0
Investing Cash Flow (76.8) (71.1) (70.2) (54.2) (45.5) (42.7) (56.1) (55.8) (57.5) (59.8) (65.4) (59.0) (43.0) (53.2) (50.8) (42.6) (46.0) (44.3) (40.4) (29.3) (7.1) (20.1) (11.1) (7.2) (7.2)
Financing Activities
Net Debt Issuance (6.7) (5.8) (5.1) (84.7) 42.8 (6.0) (6.4) (5.6) 146.3 (2.2) (186.9) 25.7 36.0 21.7 38.0 19.9 61.7 29.2 (188.0) 179.2 (1.5) 4.0 (1.3) 0 0
Stock Repurchased 0 0 (1.0) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Dividends Paid 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (4.2) (205.5) (3.6) (0.6) (4.0) (1.6) (1.6)
Other Financing Activities (7.1) (0.5) 0 (13.0) (11.1) (1.3) (0.7) (0.0) (0.9) 1.4 329.3 0 (1.9) 0 0 (0.2) (6.6) (0.3) 222.8 0 0 0 0 6.6 6.6
Financing Cash Flow (13.8) (6.3) (6.1) (97.7) 31.7 (7.3) (7.1) (5.6) 145.4 (1.4) 142.4 25.7 34.1 21.7 38.0 19.7 55.0 28.9 30.6 (26.8) (5.1) 3.4 (5.3) 5.0 5.0
Cash Position
Net Change in Cash (5.9) 2.2 12.8 (62.0) 23.1 12.2 20.2 (1.8) 129.2 (16.2) 126.1 9.4 (5.9) (14.4) 13.3 (5.5) 8.2 (7.4) 6.3 (15.4) 3.3 (5.8) 5.4 8.2 8.2
Cash at Beginning 269.4 267.2 254.4 316.4 293.4 281.1 260.9 262.7 133.5 149.8 23.7 14.3 20.2 34.6 21.3 26.8 18.5 25.9 19.6 35.0 31.6 37.5 32.0 23.8 0
Cash at End 263.5 269.4 267.2 254.4 316.4 293.4 281.1 260.9 262.7 133.5 149.8 23.7 14.3 20.2 34.6 21.3 26.8 18.5 25.9 19.6 35.0 31.6 37.5 32.0 8.2
Free Cash Flow 27.7 8.5 18.9 35.7 (8.7) 19.5 26.4 (4.9) (16.3) (15.7) (16.4) (16.3) (40.2) (36.1) (24.7) (26.4) (40.7) (36.3) (23.1) 13.8 7.5 (4.1) 10.7 3.2 3.2
Key Metrics 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1
Income Statement
Revenue 464.4 443.6 423.6 415.8 355.2 342.8 338.2 324.9 275.1 254.1 264.5 249.9 197.3 201.8 198.6 186.4 152.2 140.1 129.8 129.2 98.8 89.9 86.7 75.4 75.4
Gross Profit 106.0 107.1 106.8 120.0 90.0 87.9 90.1 90.3 71.8 59.1 75.2 71.2 45.7 54.4 50.6 45.0 31.0 33.8 39.0 47.7 32.3 25.7 34.2 28.0 28.0
Operating Income 35.9 34.0 41.5 54.7 31.1 15.8 32.5 32.2 25.6 2.2 24.7 19.6 (0.2) 3.8 5.2 2.7 (14.2) (7.6) (114.7) 14.3 (3.7) (4.9) 8.0 3.8 3.8
Net Income 16.1 21.4 17.5 25.6 15.4 3.6 12.6 11.9 7.1 (1.4) 4.2 2.8 (3.8) (0.7) 1.8 (0.9) (4.9) (6.2) (85.5) 11.9 (4.8) (6.2) 6.7 2.6 2.6
EPS (Diluted) 0.13 0.17 0.14 0.20 0.13 0.03 0.11 0.12 0.08 -0.02 0.07 0.05 -0.07 -0.01 0.03 -0.02 -0.10 -0.12 -0.23 0.25 -0.10 -0.13 0.14 0.06 0.05
Balance Sheet
Cash & Equivalents 263.5 269.4 267.2 254.4 316.4 293.4 281.1 260.9 262.7 133.5 149.8 23.7 14.3 20.2 34.6 21.3 26.8 18.5 25.9 19.6 (31.6) 31.6 (15.6)
Total Assets 3,105.3 3,009.3 2,922.0 2,812.2 2,765.2 2,501.1 2,431.5 2,377.3 2,073.3 1,764.0 1,639.0 1,368.3 1,265.0 1,186.4 1,129.3 949.5 884.5 553.7 503.6 285.2 0 259.7 0
Total Debt 1,160.4 1,089.0 1,036.6 980.9 1,021.2 942.9 928.6 910.8 861.4 676.6 645.6 783.1 709.0 625.4 568.3 479.6 429.4 150.7 111.6 285.0 0 95.1 0
Stockholders' Equity 696.4 680.8 656.6 636.2 599.1 537.4 523.1 509.1 417.1 364.3 331.7 135.4 128.3 129.1 125.7 108.5 105.4 94.5 94.9 (127.3) (1,459.8) 76.0 (859.7)
Cash Flow
Operating Cash Flow 84.7 79.6 89.1 89.9 36.9 62.2 83.5 59.5 41.2 45.0 49.1 42.8 3.1 17.1 26.1 17.5 (0.8) 8.1 16.1 40.7 15.5 10.9 21.8 10.4 10.4
Capital Expenditure (57) (71.2) (70.2) (54.2) (45.6) (42.8) (57.1) (64.4) (57.5) (60.7) (65.4) (59.0) (43.3) (53.2) (50.8) (43.9) (40.0) (44.3) (39.2) (27.0) (7.9) (15.0) (11.1) (7.2) (7.2)
Free Cash Flow 27.7 8.5 18.9 35.7 (8.7) 19.5 26.4 (4.9) (16.3) (15.7) (16.4) (16.3) (40.2) (36.1) (24.7) (26.4) (40.7) (36.3) (23.1) 13.8 7.5 (4.1) 10.7 3.2 3.2