Dutch Bros BROS Ratios & Valuation
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 25.3%-1.1pp | 25.9%-0.7pp | 26.3%+0.2pp | 26.7%+0.2pp | 26.3%-0.3pp | |
| Operating margin | 9.4%+1.2pp | 9.8%+1.6pp | 9.3%+1.5pp | 9.2%+1.7pp | 8.2%+1.3pp | |
| Net margin | 4.6%+1.4pp | 4.9%+2.1pp | 4%— | 3.9%— | 3.2%— | |
| EBITDA margin | 16.7%+1.3pp | 16.9%+1.3pp | 16.4%+1.3pp | 16.4%+1.5pp | 15.4%+1.3pp | |
| Free cash flow margin | 5.2%+2.8pp | 3.3%+1.4pp | 4.3%+5.1pp | 5%+9.8pp | 2.4%+8.6pp | |
| Returns | ||||||
| Return on equity | 12.4%+3.9pp | 13.1%+5.3pp | 10.5%— | 10%— | 8.6%— | |
| Return on assets | 2.7%+0.9pp | 2.9%+1.2pp | 2.3%— | 2.2%— | 1.8%— | |
| Return on invested capital | 11.4%+1.8pp | 12%+1.9pp | 11%+1.8pp | 10.6%+1.6pp | 9.6%+1.1pp | |
| Efficiency | ||||||
| Asset turnover | 0.6×0.0× | 0.6×0.0× | 0.6×0.0× | 0.6×0.0× | 0.6×-0.1× | |
| Inventory turnover | 34.5×+10.6× | 28.4×+5.9× | 27.1×+7.2× | 23.9×+6.4× | 24×+6.8× | |
| Liquidity | ||||||
| Current ratio | 1.3×-0.6× | 1.5×-0.3× | 1.5×-0.4× | 1.6×-0.5× | 1.9×-0.3× | |
| Quick ratio | 1.2×-0.6× | 1.3×-0.3× | 1.3×-0.4× | 1.4×-0.5× | 1.8×-0.2× | |
| Cash ratio | 1×-0.6× | 1.1×-0.3× | 1.2×-0.4× | 1.3×-0.4× | 1.6×-0.2× | |
| Leverage | ||||||
| Debt-to-equity | 1.6×-0.1× | 1.6×-0.2× | 1.6×-0.2× | 1.5×-0.2× | 1.7×-0.4× | |
| Debt-to-assets | 0.4×0.0× | 0.4×0.0× | 0.4×0.0× | 0.3×0.0× | 0.4×0.0× | |
| Net debt / EBITDA | 3×-0.3× | 3×-0.3× | 3.1×-0.5× | 3.1×-0.9× | 3.4×-0.7× | |
| Per Share | ||||||
| Book value per share | $5.47+10.9% | $5.41+4.9% | $5.15+12.6% | $5.02+0.8% | $4.93-1.4% | |
| Valuation | ||||||
| Market capitalization | $6.44B-10.3% | $7.78B+30.4% | $6.65B+82.3% | $8.93B+127% | $7.18B+133% | |
| Enterprise value | $7.32B-7.2% | $8.6B+30.0% | $7.41B+72.7% | $9.66B+111% | $7.88B+114% | |
| Price / earnings | 79.9×-84.9× | 97.4×-71.7× | 107×— | 156.1×— | 164.8×— | |
| Price / sales | 3.7×-1.6× | 4.7×+0.1× | 4.3×+1.3× | 6.2×+2.6× | 5.3×+2.3× | |
| Price / book | 9.2×-2.7× | 11.4×+0.3× | 10.1×+3.2× | 14×+6.3× | 12×+4.6× | |
| EV / EBITDA | 25.1×-12.5× | 31.1×-2.1× | 29.4×+5.5× | 40.6×+13.0× | 37.6×+12.7× | |
| EV / sales | 4.2×-1.6× | 5.2×+0.1× | 4.8×+1.2× | 6.7×+2.6× | 5.8×+2.3× | |
| Free cash flow yield | 1.4%+1.0pp | 0.7%+0.3pp | 1%+1.3pp | 0.8%+2.2pp | 0.5%+2.6pp | |
| Earnings yield | 1.3%+0.6pp | 1%+0.4pp | 0.9%— | 0.6%— | 0.6%— | |
| PEG ratio | 0.9×— | 0.8×— | —— | —— | —— |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- What are Dutch Bros's profit margins?
- Dutch Bros (BROS) runs a 25.3% gross margin and a 9.4% operating margin, with a 4.6% net margin.
- Where do Dutch Bros's ratios come from?
- Every ratio is computed from Dutch Bros's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.
