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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

Aug 5, 2026 (In 1 week)
Revenue estimate$525.3M
EPS estimate$0.29

Financials

Q4 2025

Income statement

See full
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

See full
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

See full
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

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

Returns & leverage

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

Segments

By segment

See full
Franchising and other$34.0M+19.0%

Versus estimates

Revenue

Q1 2026$464.4MBeat by $14.7M
Q4 2025$443.6MBeat by $18.8M
Q3 2025$423.6MBeat by $10.0MQ2 2025$415.8MBeat by $4.0MQ1 2025$355.2MBeat by $10.9MQ4 2024$342.8MBeat by $24.0M

Diluted EPS

Q1 2026$0.16In line
Q4 2025$0.17Beat by $0.07
Q3 2025$0.19Beat by $0.02Q2 2025$0.26Beat by $0.08Q1 2025$0.14Beat by $0.04Q4 2024$0.07Beat by $0.05

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Questions, answered.

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.