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Dutch Bros Inc (BROS) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

CONSUMER CYCLICAL · RESTAURANTS · DATA UPDATED 2026-09-19

Dutch Bros Inc (BROS) operates in the RESTAURANTS industry and is headquartered in Tempe, United States with about 27,000 employees. Its market capitalization is roughly $7 billion. In the fiscal year ended 2025-12-31, BROS reported $1.6B in revenue and $80M in net income.

Dutch Bros Inc., together with its subsidiaries, operates and franchises drive-thru shops in the United States. The company sells and distributes coffee, coffee-related products, and accessories. It operates through Company-Operated Shops and Franchising and Other segments.

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BROS Revenue & Earnings History — Annual Income Statement

Income statementTTM → 2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-31
Total Revenue$1.9B$1.6B$1.3B$966M$739M$498M$327M$238M
Gross Profit$471M$424M$340M$251M$181M$153M$116M$96M
Gross Margin %25.0%25.9%26.6%26.0%24.5%30.8%35.4%40.3%
Operating Income (EBIT)$181M$161M$106M$46M($3M)($111M)$11M$30M
Operating Margin %9.6%9.8%8.3%4.8%-0.4%-22.3%3.4%12.7%
Net Income$91M$80M$35M$2M($5M)($13M)$6M$28M
Net Margin %4.8%4.9%2.8%0.2%-0.6%-2.5%1.8%11.9%
EBITDA$279M$205M$118M$46M($87M)$26M$40M
Earnings Per Share (EPS)$0.72$0.63$0.31$0.03$-0.09$-0.28$0.12$0.61
Shares Outstanding (M)126M115M62M52M46M47M47M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

BROS Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement2026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-302024-06-30
Total Revenue$551M$464M$444M$424M$416M$355M$343M$338M$325M
Gross Profit$151M$106M$107M$107M$120M$90M$88M$90M$90M
Gross Margin %27.4%22.8%24.1%25.2%28.9%25.3%25.7%26.6%27.8%
Operating Income (EBIT)$70M$36M$34M$41M$55M$31M$16M$33M$32M
Operating Margin %12.7%7.7%7.7%9.8%13.2%8.8%4.6%9.6%9.9%
Net Income$37M$16M$21M$17M$26M$15M$4M$13M$12M
Net Margin %6.7%3.5%4.8%4.1%6.2%4.3%1.1%3.7%3.7%
EBITDA$51M$70M$71M$74M$57M$40M$57M$55M
Earnings Per Share (EPS)$0.28$0.13$0.17$0.14$0.20$0.13$0.03$0.11$0.12
Shares Outstanding (M)127M127M127M127M122M115M114M102M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

BROS Free Cash Flow History

Cash flowTTM → 2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-31
Cash from Operations (CFO)$366M$296M$246M$140M$60M$80M$54M$57M
Capital Expenditures (CapEx)$270M$241M$222M$228M$188M$118M$41M$39M
Free Cash Flow (FCF)$95M$54M$25M($89M)($128M)($38M)$13M$17M
FCF Margin %5.1%3.3%1.9%-9.2%-17.3%-7.6%4.0%7.2%
Dividends Paid$0M$4M$213M$8M$7M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

BROS Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow2026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-302024-06-30
Cash from Operations (CFO)$112M$85M$80M$89M$90M$37M$62M$83M$60M
Capital Expenditures (CapEx)$72M$57M$71M$70M$54M$46M$43M$57M$64M
Free Cash Flow (FCF)$40M$28M$8M$19M$36M($9M)$19M$26M($5M)
FCF Margin %7.3%6.0%1.9%4.5%8.6%-2.4%5.7%7.8%-1.5%

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

BROS Balance Sheet History

Balance sheet2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-31
Total Assets$3.4B$3.0B$2.5B$1.8B$1.2B$554M$260M$168M
Cash & Cash Equivalents$269M$269M$293M$134M$20M$19M$32M$16M
Total Liabilities$2.4B$2.1B$1.7B$1.1B$934M$340M$184M$90M
Total Debt (Short + Long-Term)$237M$264M$117M$227M$71M$45M$27M
Total Shareholders' Equity$798M$681M$537M$364M$129M$95M$76M$78M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive BROS viewer.

BROS Metric Deep Dives

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