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Dutch Bros BROS Q4 2025 Annual earnings

Reported February 12, 2026 · After market close

Revenue$443.6MBeat by $18.8M
EPS$0.17Beat by $0.07
Revenue estimate$424.8M
EPS estimate$0.10

Next report

Nov 4, 2026 (in 2 months)
Revenue estimate$548.8M
EPS estimate$0.23

Financials

Q4 2025

Income statement

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Revenue$443.6M+29.4%
Gross profit$107.1M+21.8%
Operating income$34.0M+115%
Net income$21.4M+492%
EPS (diluted)$0.17+750%

Balance sheet

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Cash & equivalents$269.4M-8.2%
Total debt$1.1B+15.5%
Total equity$680.8M+26.7%
Total assets$3.0B+20.3%

Cash flow

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Operating cash flow$79.6M+28.0%
CapEx$71.2M+66.4%
Free cash flow$8.5M-56.5%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$7.78B+30.4%
Enterprise value$8.6B+30.0%
P/E97.4×-71.7×
P/S4.7×+0.1×

Profitability

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Gross margin25.9%-0.7pp
Operating margin9.8%+1.6pp
Net margin4.9%+2.1pp
FCF margin3.3%+1.4pp

Returns & leverage

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Return on equity13.1%+5.3pp
Debt / equity1.6×-0.2×
Current ratio1.5×-0.3×

Segments

By segment

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Company-operated shops$409.6M+30.4%
Franchising and other$34.0M+19.0%

FAQ

When did Dutch Bros report Q4 2025 earnings?
Dutch Bros (BROS) reported Q4 2025 earnings on February 12, 2026 after market close.
What were Dutch Bros's Q4 2025 revenue and EPS?
Dutch Bros reported revenue of $443.6M and eps of $0.17 for Q4 2025.
Did Dutch Bros beat estimates in Q4 2025?
Revenue beat the consensus estimate of $424.8M by $18.8M. EPS beat the consensus estimate of $0.10 by $0.07.
How did Dutch Bros's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 29.4% from $342.8M a year earlier and eps grew 142.9% from $0.07.
Where can I find Dutch Bros's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001866581-26-000003) and the 10-K periodic report (0001866581-26-000006) directly on SEC EDGAR. The filing index links above go to sec.gov.