BROS
$43.82+2.24%
Dutch Bros Inc.Stock · Consumer DiscretionaryUS Stock Market · 0.01% of VTIRussell 1000 · 0.01% of IWBRussell 3000 · 0.01% of IWV
BROS financial statements
The full income statement, balance sheet, and cash-flow statement for Dutch Bros Inc. (BROS), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 154.2M2024-09 154.2M2024-12 154.2M2025-03 162.7M2025-06 164.5M2025-09 164.5M2025-12 164.5M2026-03 164.8M2026-06 174.7M+13.3% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
PeriodRangeOrderChangeFiguresAs-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 1.64B+27.9% | 1.28B+32.6% | 966M+30.7% | 739M+48.4% | 498M+52.1% | |
| Cost of revenue | 1.21B+29.0% | 941M+31.7% | 714M+28.0% | 558M+62.0% | 345M+62.9% | |
| Selling, general & administrative | 263M+12.3% | 234M+14.1% | 205M+11.7% | 184M-30.6% | 265M+152.1% | |
| Operating income | 161M+51.9% | 106M+129.5% | 46.2M+1869.6% | -2.61M+97.7% | -111M-1111.1% | |
| Other non-operating income | 2.75M-52.7% | 5.81M+92.6% | 3.02M-24.1% | 3.98M+420.6% | -1.24M-241.6% | |
| Pre-tax income | 136M+59.8% | 84.9M+401.7% | 16.9M | — | — | |
| Income tax | 18.3M-0.5% | 18.4M+164.6% | 6.97M+168.1% | 2.60M+259.6% | -1.63M-293.1% | |
| 79.8M+126.5% | 35.3M+1952.3% | 1.72M+136.1% | -4.75M+62.5% | -12.7M | ||
| Net income to non-controlling interest | 37.4M+20.0% | 31.2M+278.8% | 8.23M+156.8% | -14.5M+61.7% | -37.9M | |
| $0.64+88.2% | $0.34+1033.3% | $0.03+133.3% | -$0.09+67.9% | -$0.28 | ||
| EPS (basic) | $0.64+88.2% | $0.34+1033.3% | $0.03+133.3% | -$0.09+67.9% | -$0.28 | |
| Weighted-avg shares (basic) | 125M+21.1% | 104M+66.7% | 62.1M+19.7% | 51.9M+13.1% | 45.9M | |
| Weighted-avg shares (diluted) | 126M+20.8% | 104M+67.7% | 62.1M+19.7% | 51.9M+13.1% | 45.9M | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 357M-0.2% | 358M+74.4% | 205M+149.3% | 82.3M+34.3% | 61.3M-2.8% | ||
| Cash & equivalents | 269M-8.2% | 293M+119.7% | 134M+561.8% | 20.2M+9.0% | 18.5M-41.5% | |
| Accounts receivable | 18.4M+73.5% | 10.6M+16.2% | 9.12M-23.8% | 12.0M+12.4% | 10.6M-1.8% | |
| Inventory | 48.9M+34.1% | 36.5M-22.3% | 47.0M+19.7% | 39.2M+68.0% | 23.3M+49.8% | |
| Prepaid expenses | 20.7M+18.1% | 17.5M+11.9% | 15.6M+42.8% | 10.9M+24.5% | 8.80M+75.4% | |
| 3.01B+20.3% | 2.50B+41.8% | 1.76B+48.7% | 1.19B+114.3% | 554M+113.2% | ||
| Property, plant & equipment | 825M+20.5% | 684M+26.1% | 542M+48.4% | 365M+21.0% | 302M+82.6% | |
| Operating lease right-of-use | 449M+42.4% | 315M+57.9% | 200M+17.9% | 169M | 0.00 | |
| Goodwill | 21.6M+0.0% | 21.6M+0.0% | 21.6M+0.0% | 21.6M+15.6% | 18.7M+3.5% | |
| Intangible assets | 1.51M-48.8% | 2.95M-45.6% | 5.42M-38.5% | 8.80M-20.7% | 11.1M-1.9% | |
| Deferred tax assets | 947M+27.5% | 742M+84.2% | 403M+39.6% | 289M+81.6% | 159M-17.6% | |
| Other non-current assets | 25.5M-6.1% | 27.2M+602.9% | 3.87M+81.7% | 2.13M+36.2% | 1.56M-0.7% | |
| 240M+18.4% | 203M+47.0% | 138M-35.1% | 213M+53.3% | 139M+131.7% | ||
| Accounts payable | 37.6M+16.8% | 32.2M+7.6% | 30.0M+40.8% | 21.3M+4.1% | 20.4M+27.0% | |
| Accrued liabilities | — | 26.5M+68.1% | 15.8M+63.1% | 9.67M-53.9% | 21.0M+108.9% | |
| Deferred revenue | 55.7M+29.8% | 42.9M+41.3% | 30.3M+19.8% | 25.3M+11.1% | 22.8M+103.8% | |
| Short-term & current debt | 3.88M-77.6% | 17.3M+285.5% | 4.49M+72.1% | 2.61M+2433.0% | 103K-97.3% | |
| Current lease liability | 19.2M+37.1% | 14.0M+36.5% | 10.2M+9.9% | 9.32M | 0.00 | |
| Other current liabilities | 99.2M+19.0% | 83.4M+1197.9% | 6.42M+8.1% | 5.94M-8.2% | 6.47M+352.8% | |
| Finance lease liability (current) | 17.3M+30.5% | 13.3M+39.8% | 9.48M+19.0% | 7.97M | — | |
| 2.11B+21.5% | 1.74B+59.7% | 1.09B+16.4% | 934M+174.8% | 340M+85.1% | ||
| Long-term debt | 196M-10.7% | 220M+135.9% | 93.2M-3.2% | 96.3M+2649.0% | 3.50M-85.6% | |
| Deferred revenue (non-current) | 8.92M+11.3% | 8.02M+20.1% | 6.68M+9.1% | 6.12M+21.7% | 5.03M+6.0% | |
| Non-current lease liability | 450M+45.4% | 309M+61.6% | 191M+18.7% | 161M | 0.00 | |
| Operating lease liability (total) | 469M+45.0% | 323M+60.3% | 202M+18.2% | 171M | — | |
| Finance lease liability (total) | 420M+9.8% | 383M+1.4% | 377M+53.9% | 245M | — | |
| Finance lease liability | 403M+9.0% | 369M+0.4% | 368M+55.1% | 237M | — | |
| Other non-current liabilities | 0.00-100.0% | 8.00K+0.0% | 8.00K+0.0% | 8.00K-98.8% | 680K+45.9% | |
| 681M+26.7% | 537M+47.5% | 364M+182.2% | 129M+36.6% | 94.5M+24.4% | ||
| Preferred stock | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Additional paid-in capital | 581M+12.4% | 517M+36.3% | 379M+160.5% | 146M+35.8% | 107M | |
| Retained earnings | 99.5M+406.0% | 19.7M+226.1% | -15.6M+9.9% | -17.3M-36.5% | -12.7M | |
| Accumulated other comprehensive income | 48.0K-92.4% | 628K+15.4% | 544K-33.1% | 813K | 0.00 | |
| Non-controlling interest | 217M-4.2% | 226M-27.3% | 312M+153.6% | 123M+3.1% | 119M | |
| Total equity incl. non-controlling | 898M+17.5% | 764M+13.0% | 676M+168.2% | 252M+17.9% | 214M+175.8% | |
| Total liabilities & equity | 3.01B+20.3% | 2.50B+41.8% | 1.76B+48.7% | 1.19B+114.3% | 554M+113.2% | |
| Common shares outstanding | 165M+6.7% | 154M-12.9% | 177M+8.2% | 164M+0.1% | 164M | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 296M+19.9% | 246M+76.1% | 140M+133.6% | 59.9M-25.5% | 80.4M+50.1% | ||
| Depreciation & amortization | 115M+23.8% | 93.0M+34.5% | 69.1M+54.6% | 44.7M+77.4% | 25.2M+62.3% | |
| Share-based compensation | 18.0M+57.0% | 11.5M-70.7% | 39.2M-5.8% | 41.7M-73.6% | 158M+349.5% | |
| Deferred income taxes | 17.6M+14.5% | 15.4M+159.5% | 5.93M+450.1% | 1.08M+140.5% | -2.66M-1980.5% | |
| Change in receivables | 7.79M+428.4% | 1.47M+151.9% | -2.84M-315.0% | 1.32M+785.0% | -193K-104.6% | |
| Change in inventory | 12.4M+218.8% | -10.5M-235.5% | 7.72M-51.2% | 15.8M+106.3% | 7.67M+67.2% | |
| Change in payables | 3.71M+1.3% | 3.66M-6.3% | 3.90M+143.0% | 1.61M-25.4% | 2.15M+515.8% | |
| -241M-13.7% | -212M+6.7% | -227M-18.0% | -193M-59.0% | -121M-165.7% | ||
| Capital expenditure | 241M+8.7% | 222M-2.9% | 228M+21.6% | 188M+58.6% | 118M+191.9% | |
| Free cash flow | 54.4M+120.3% | 24.7M+127.9% | -88.5M+30.8% | -128M-236.2% | -38.1M-393.4% | |
| Acquisitions | 0.00 | 0.00 | 0.00-100.0% | 6.05M+12.3% | 5.39M+5.8% | |
| Proceeds from sale of PP&E | 66.0K-99.3% | 9.67M+721.2% | 1.18M | — | — | |
| -78.4M-162.5% | 125M-37.5% | 201M+49.4% | 134M+387.2% | 27.6M+241.5% | ||
| Long-term debt issued | 250M+66.7% | 150M+9007.5% | 1.65M+19.8% | 1.38M-99.3% | 200M+3709.5% | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00-100.0% | 288M | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net change in cash | -23.9M-115.0% | 160M+41.0% | 113M+6680.3% | 1.67M+112.7% | -13.1M-181.8% | |
| Interest paid | 39.0M-0.3% | 39.1M+11.8% | 35.0M+98.5% | 17.6M+139.6% | 7.35M+92.0% | |
| Income taxes paid | 996K-55.8% | 2.25M+30.2% | 1.73M+31.5% | 1.32M+48.5% | 886K+162.1% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 10.1B+24.7% | 8.08B+44.0% | 5.61B+21.5% | 4.61B-44.6% | 8.33B | |
| P/E | 126.2×-44.9% | 229.1×-90.0% | 2282.9× | — | — | |
| P/S | 6.1×-2.5% | 6.3×+2.7% | 6.1×-9.9% | 6.8×-59.3% | 16.7× | |
| P/B | 14.8×-1.6% | 15.0×-11.1% | 16.9×-53.9% | 36.7×-58.3% | 88.1× | |
| P/FCF | 185.1×-43.4% | 327.1× | — | — | — | |
| Earnings yield | 0.79%+81.6% | 0.44%+896.5% | 0.04% | — | — | |
| FCF yield | 0.54%+76.7% | 0.31% | — | — | — | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: BROS’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all BROS filings on SEC EDGAR → Not investment advice.