7 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $1.6B | $80M | 25.9% | 9.8% | $54M | $202M | $269M |
| 2024 | $1.3B | $35M | 26.6% | 8.3% | $25M | $238M | $293M |
| 2023 | $966M | $2M | 26.0% | 4.8% | -$89M | $99M | $134M |
| 2022 | $739M | -$5M | 24.5% | -0.4% | -$128M | $100M | $20M |
| 2021 | $498M | -$13M | 30.8% | -22.3% | -$38M | $4M | $19M |
| 2020 | $327M | $0 | 35.4% | 3.4% | $13M | $28M | $32M |
| 2019 | $238M | $0 | 40.3% | 12.7% | $17M | — | — |
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $464M | $16M | 23.1% | 7.4% | $28M | $201M | $264M |
| Dec '25 | $444M | $21M | 24.1% | 7.7% | $8M | $202M | $269M |
| Sep '25 | $424M | $17M | 25.2% | 9.8% | $19M | $202M | $267M |
| Jun '25 | $416M | $26M | 28.9% | 13.1% | $36M | $203M | $254M |
| Mar '25 | $355M | $15M | 25.3% | 8.7% | -$9M | $284M | $316M |
| Dec '24 | $343M | $4M | 25.7% | 4.6% | $19M | $238M | $293M |
| Sep '24 | $338M | $13M | 26.6% | 9.6% | $26M | $241M | $281M |
| Jun '24 | $325M | $12M | 27.8% | 9.9% | -$5M | $244M | $261M |
| Mar '24 | $275M | $7M | 26.1% | 9.3% | -$16M | $247M | $263M |
| Dec '23 | $254M | -$1M | 23.3% | 0.9% | -$16M | $99M | $134M |
| Sep '23 | $265M | $4M | 28.4% | 9.3% | -$16M | $98M | $150M |
| Jun '23 | $250M | $3M | 28.5% | 7.8% | -$16M | $99M | $24M |
| Mar '23 | $197M | -$4M | 23.2% | -0.1% | -$40M | $99M | $14M |
| Dec '22 | $202M | -$663000 | 26.9% | 1.9% | -$36M | $100M | $20M |
| Sep '22 | $199M | $2M | 25.5% | 2.6% | -$25M | $101M | $35M |
| Jun '22 | $186M | -$906000 | 24.1% | 1.4% | -$26M | $101M | $21M |
| Mar '22 | $152M | -$5M | 20.4% | -9.3% | -$41M | $101M | $27M |
| Dec '21 | $140M | -$2M | 24.5% | -5.1% | -$36M | $4M | $19M |
| Sep '21 | $130M | -$11M | 30.1% | -88.3% | -$23M | $2M | $26M |
| Jun '21 | $129M | $0 | 36.9% | 11.0% | $14M | — | — |
How the market has priced BROS against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, Dutch Bros Inc.'s revenue has grown 38.0% per year. These are computed facts, not advice.
As of FY2025, Dutch Bros Inc. reported $202M of total debt against $269M of cash.
In FY2025, gross margin was 25.9%, operating margin 9.8%, and net margin 4.9%.
As of Jun '26, Dutch Bros Inc. traded at a price-to-earnings ratio of about 106.0× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.