Dutch Bros Inc. most recently reported annual revenue of $1.6B, net profit of $80.0M. Revenue grew at an average annual rate of 38.0% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.
Dutch Bros Inc.: Revenue rose from $238.0M in 2019 to $1.6B in 2025, a change of +588.2% over 6 years; net profit was positive in 5 of 7 reported years; operating margin moved from 12.7% to 9.8%, a shift of -2.9 percentage points; the most recent year shows net profit of $80.0M.
Income Statement — 7 Years (USD millions)
Metric
2019
2020
2021
2022
2023
2024
2025
Revenue
$238.0M
$327.0M
$498.0M
$739.0M
$966.0M
$1.3B
$1.6B
Operating Expenses
$208.0M
$316.0M
$609.0M
$742.0M
$920.0M
$1.2B
$1.5B
Operating Profit
$30.0M
$11.0M
$-111.0M
$-3.0M
$46.0M
$106.0M
$161.0M
Operating Margin
12.7%
3.4%
-22.3%
-0.3%
4.8%
8.3%
9.8%
Other Income
$-2.0M
$-4.0M
$-8.0M
$-14.0M
$-29.0M
$-21.0M
$-26.0M
Interest
$2.0M
$4.0M
$7.0M
$18.0M
$32.0M
$27.0M
$28.0M
Depreciation
$10.0M
$16.0M
$25.0M
$45.0M
$69.0M
$93.0M
$115.0M
Profit Before Tax
$28.0M
$7.0M
$-120.0M
$-17.0M
$17.0M
$85.0M
$136.0M
Tax
$310,000
$17.0M
$1.4M
$-15.6M
$41.2M
$21.7M
$13.5M
Net Profit
$28.0M
$6.0M
$-13.0M
$-5.0M
$2.0M
$35.0M
$80.0M
EPS
$0.61
$0.00
$-0.28
$-0.09
$0.03
$0.31
$0.63
Dividend Payout
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
Quarterly Results — Last 12 Quarters (USD millions)
8 duplicate period labels in the source data were collapsed.
Metric
Sep '23
Dec '23
Mar '24
Jun '24
Sep '24
Dec '24
Mar '25
Jun '25
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
$265.0M
$254.0M
$275.0M
$325.0M
$338.0M
$343.0M
$355.0M
$416.0M
$424.0M
$444.0M
$464.0M
$551.0M
Operating Expenses
$240.0M
$252.0M
$250.0M
$293.0M
$306.0M
$327.0M
$324.0M
$361.0M
$382.0M
$410.0M
$428.0M
$480.0M
Operating Profit
$25.0M
$2.0M
$26.0M
$32.0M
$33.0M
$16.0M
$31.0M
$55.0M
$41.0M
$34.0M
$36.0M
$70.0M
Operating Margin
9.3%
0.9%
9.3%
9.9%
9.6%
4.6%
8.8%
13.2%
9.8%
7.7%
7.7%
12.8%
Interest
$9.0M
$6.0M
$6.0M
$7.0M
$7.0M
$7.0M
$7.0M
$7.0M
$7.0M
$7.0M
$7.0M
$7.0M
Profit Before Tax
$15.0M
$-3.0M
$25.0M
$26.0M
$26.0M
$7.0M
$24.0M
$46.0M
$35.0M
$31.0M
$27.0M
$64.0M
Tax
$12.0M
$-23.1M
$35.1M
$14.8M
$17.8M
$14.8M
$6.1M
$15.9M
$21.9M
$6.4M
$12.4M
$19.6M
Net Profit
$4.0M
$-1.0M
$7.0M
$12.0M
$13.0M
$4.0M
$15.0M
$26.0M
$17.0M
$21.0M
$16.0M
$37.0M
EPS
$0.07
$-0.02
$0.08
$0.12
$0.11
$0.03
$0.13
$0.20
$0.14
$0.17
$0.13
$0.28
Over the 7 years reported for Dutch Bros Inc., borrowings increased from $48.0M in 2019 to $1.1B in 2025, cash stood at $269.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 1.49 times.
Balance Sheet — 7 Years (USD millions)
Metric
2019
2020
2021
2022
2023
2024
2025
Total Assets
$168.0M
$260.0M
$554.0M
$1.2B
$1.8B
$2.5B
$3.0B
Current Assets
$37.0M
$63.0M
$61.0M
$82.0M
$205.0M
$358.0M
$357.0M
Cash
$16.0M
$32.0M
$19.0M
$20.0M
$134.0M
$293.0M
$269.0M
Inventory
$11.0M
$16.0M
$23.0M
$39.0M
$47.0M
$36.0M
$49.0M
Receivables
$7.0M
$11.0M
$11.0M
$12.0M
$9.0M
$11.0M
$18.0M
Fixed Assets
$103.0M
$165.0M
$302.0M
$783.0M
$1.1B
$1.4B
$1.7B
Capital Work in Progress
$0
$0
$0
$0
$0
$0
$0
Investments
$0
$0
$0
$0
$1.0M
$1.0M
$0
Other Assets
$17.0M
$18.0M
$19.0M
$22.0M
$22.0M
$22.0M
$22.0M
Total Liabilities
$90.0M
$184.0M
$340.0M
$934.0M
$1.1B
$1.7B
$2.1B
Current Liabilities
$33.0M
$60.0M
$139.0M
$213.0M
$138.0M
$203.0M
$240.0M
Borrowings
$48.0M
$95.0M
$151.0M
$625.0M
$677.0M
$943.0M
$1.1B
Other Liabilities
$42.0M
$89.0M
$189.0M
$309.0M
$412.0M
$794.0M
$1.0B
Equity
$-860.0M
$-1.5B
$0
$0
$0
$0
$0
Reserves
$78.0M
$76.0M
$95.0M
$129.0M
$364.0M
$537.0M
$681.0M
For Dutch Bros Inc., operating cash flow was positive in 7 of 7 reported years; free cash flow in the latest year was $54.0M; free cash flow was positive in 4 of 7 years; financing activities used $24.0M in the latest year, which covers debt repayment, dividends and buybacks.
Cash Flow Statement — 7 Years (USD millions)
Metric
2019
2020
2021
2022
2023
2024
2025
Operating Cash Flow
$57.0M
$54.0M
$80.0M
$60.0M
$140.0M
$246.0M
$296.0M
Investing Cash Flow
$-79.0M
$-86.0M
$-240.0M
$-380.0M
$-456.0M
$-434.0M
$-482.0M
Financing Cash Flow
$0
$0
$-305.0M
$-7.0M
$-4.0M
$-3.0M
$-24.0M
Net Cash Flow
$4.0M
$16.0M
$-13.0M
$2.0M
$113.0M
$160.0M
$-24.0M
Free Cash Flow
$17.0M
$13.0M
$-38.0M
$-128.0M
$-89.0M
$25.0M
$54.0M
Valuation & Return Ratios
Metric
Value
PEG Ratio
1.00
EV / EBITDA
25.40
FCF Yield
1.44%
Quick Ratio
1.19
Interest Coverage
13.05
Return 1Y
-31.13%
Return 3Y
58.03%
Return 5Y
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Dutch Bros Inc. (BROS) financials — frequently asked questions
What is Dutch Bros Inc.'s annual revenue?
Dutch Bros Inc. (BROS) reported annual revenue of $1.6B in its most recent fiscal year.
What is Dutch Bros Inc.'s net profit?
Dutch Bros Inc. (BROS) reported net profit of $80.0M in its most recent fiscal year.
What is BROS EV/EBITDA?
Dutch Bros Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is 25.40.