What is Dutch Bros's remeasurement gain on tras?

Dutch Bros (BROS) reported remeasurement gain on tras of -$4.77M in Q4 2025.

What does remeasurement gain on tras mean?

Adjustments to liabilities owed to former owners based on tax savings.

How do you interpret remeasurement gain on tras?

Changes reflect the company's obligation to share tax benefits with historical stakeholders, impacting future cash availability.

How does remeasurement gain on tras compare across companies?

Specific to companies that went public via structures like Up-C; less common in traditional corporate structures.

Dutch Bros BROS Remeasurement gain on TRAs

Discontinued — last reported Q4 '25

Remeasurement gain on TRAs at other companies

EvercoreEVR

$19.38M—

Tradeweb Markets Inc.TW

$335.8M-9.2%

Tradeweb Markets Inc.TW

$15.17M-10.5%

Fifth Third BankFITB

$0-100%

Tradeweb Markets Inc.TW

$9.79M+13.8%

Tradeweb Markets Inc.TW

$719K-76.5%

Other financials

Income statement

See full

Revenue$464.4M+30.8%

Gross profit$107.5M+19.4%

Operating income$34.3M+10.4%

Net income$16.1M+4.8%

EPS (diluted)$0.130.0%

Balance sheet

See full

Cash & equivalents$263.5M-16.7%

Total debt$1.1B+12.1%

Total equity$696.4M+16.3%

Total assets$3.1B+12.3%

Cash flow

See full

Operating cash flow$84.7M+130%

CapEx$57.0M+25.1%

Free cash flow$27.7M+420%

Valuation

See full

Market cap$9.7B-10.3%

Enterprise value$10.58B-7.2%

P/E120.4×-128×

P/S5.6×-2.4×

Profitability

See full

Gross margin25.3%-1.1pp

Operating margin9.4%+1.2pp

Net margin4.6%+1.4pp

FCF margin5.2%+2.8pp

Returns & leverage

See full

Return on equity12.4%+3.9pp

Debt / equity1.6×-0.1×

Current ratio1.3×-0.6×

Where this comes from

Reported directly by Dutch Bros in its filing.

Tagged under the XBRL concept bros:IncreaseDecreaseToTaxReceivableAgreements.

The official record: Dutch Bros’s 10-K, filed February 13, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Dutch Bros's remeasurement gain on tras?: Dutch Bros (BROS) reported remeasurement gain on tras of -$4.77M in Q4 2025.
What does remeasurement gain on tras mean?: Adjustments to liabilities owed to former owners based on tax savings.
How do you interpret remeasurement gain on tras?: Changes reflect the company's obligation to share tax benefits with historical stakeholders, impacting future cash availability.
How does remeasurement gain on tras compare across companies?: Specific to companies that went public via structures like Up-C; less common in traditional corporate structures.