Dutch Bros Inc.

BROS Consumer Cyclical Restaurants

Dutch Bros Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.6 billion, up 27.9% from fiscal 2024.

Revenue
+29.8%
EPS
+42.9%
Free cash flow
+429.1%
Total debt
−99.2%

Quarter to September 2026, against a year earlier

34.91 9.08 −20.64%
Market cap
$6.0B
P/E
44.8×
Fwd P/E
51.6×
Dividend yield
—
F-score
5/9
Altman Z
2.99
Beneish M
−2.09
Dividend safety
70/100

Dutch Bros Inc. (BROS) Operating margin

Alert me on Operating margin

Dutch Bros Inc.'s operating margin over the twelve months to 30 September 2026 was 9.53%, down 0.3 percentage points from fiscal 2025 (9.84%). Over the past ten years it has ranged from −22.3% (fiscal 2021) to 12.7% (fiscal 2019); the current reading is higher than 86% of that period. That is above the Restaurants industry median of 4.59% and above the Consumer Cyclical sector median of 3.88%.

Operating margin, annual

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Annual newest first

Period Operating margin Change (points)
FY2025 9.84% 1.56
FY2024 8.28% 3.49
FY2023 4.79% 5.14
FY2022 −0.35% 21.99
FY2021 −22.3% (25.70)
FY2020 3.36% (9.35)
FY2019 12.7% —

Quarterly newest first

Period Operating margin Change (points)
Sep 2026 9.61% (3.17)
Jun 2026 12.8% 5.39
Mar 2026 7.39% (0.27)
Dec 2025 7.66% (2.13)
21 more quarters

Against its own ten years

Low −22.3% High 12.7%
Ten-year median 4.79%
Current reading's percentile 90

Operating margin against peers

Company Operating margin
JMKE Jersey Mike�s Subs Inc. compare 38.3%
WING Wingstop Inc. compare 27.7%
DPZ Domino's Pizza Inc compare 19.7%
YUMC Yum China compare 11.3%
EAT Brinker International, Inc. compare 11.0%
BROS Dutch Bros Inc. 9.53%
TXRH Texas Roadhouse, Inc. compare 7.75%
CAKE The Cheesecake Factory Incorporated compare 6.04%
CAVA CAVA Group, Inc. compare 4.86%
Restaurants industry median 4.59%
Consumer Cyclical sector median 3.88%
Market median 0.00%

What Operating margin is

EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.

EBIT ÷ Revenue

The full definition of Operating margin →

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