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Dutch Bros BROS Operating margin

Operating margin at other companies

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StarbucksSBUX
7.6%-4.9pp
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Yum! BrandsYUM
31.5%0.0pp
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4%+2.4pp
Restaurant Brands International logo
Restaurant Brands InternationalQSR
24.7%-1.6pp
McDonald's logo
McDonald'sMCD
46.3%+1.0pp
Keurig Dr Pepper logo
Keurig Dr PepperKDP
20.8%+3.9pp

Other financials

Income statement

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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

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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

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Operating cash flow$84.7M+130%
CapEx$57.0M+25.1%
Free cash flow$27.7M+420%

Valuation

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Market cap$9.7B-10.3%
Enterprise value$10.58B-7.2%
P/E120.4×-128×
P/S5.6×-2.4×

Profitability

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Gross margin25.3%-1.1pp
Net margin4.6%+1.4pp
FCF margin5.2%+2.8pp

Returns & leverage

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Return on equity12.4%+3.9pp
Debt / equity1.6×-0.1×
Current ratio1.3×-0.6×

Where this comes from

Calculated from Dutch Bros’s reported figures.

Based on trailing twelve months.

The official record: Dutch Bros’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Dutch Bros's operating margin?
Dutch Bros (BROS) reported operating margin of 9.4% in Q1 2026.
How has Dutch Bros's operating margin changed year-over-year?
Dutch Bros's operating margin increased by 14.8% year-over-year, from 8.2% to 9.4%.
What is the long-term trend for Dutch Bros's operating margin?
Over 3 years (2021 to 2025), Dutch Bros's operating margin has grown at a -23.9% compound annual growth rate (CAGR), from -22.3% to 9.8%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.