Want to see BROS full AI Analyst Report?
Top Page
Dutch Bros Inc
(NYSE:BROS)
Select Model
Select Model
Rating:66Neutral
Price Target:
$72.00
▲(34.73% Upside)
Action:Reiterated
Date:06/16/26
The score is driven by improving fundamentals and strong, guidance-supported growth momentum (profitability and cash-flow inflection; raised 2026 outlook), supported by a strong technical uptrend. These positives are meaningfully tempered by very expensive valuation (P/E ~105), elevated leverage, and extended momentum signals (RSI/Stoch), which increase downside risk if cost pressures persist or growth cools.
Positive Factors
Revenue & Profit Growth
Sustained strong top-line and EBITDA expansion demonstrates durable demand and execution across the store base. Robust same‑shop sales and transaction growth indicate underlying customer traction, supporting multi-year unit economics and management's raised 2026 revenue and EBITDA guidance.
Negative Factors
Elevated Leverage
Above-average leverage limits financial flexibility and increases sensitivity to margin shocks or cyclical revenue dips. Although improved from prior years, the debt load constrains optionality for opportunistic investments and raises refinancing and interest‑cost risk if macro rates or cash flow volatility worsen.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & Profit Growth
Sustained strong top-line and EBITDA expansion demonstrates durable demand and execution across the store base. Robust same‑shop sales and transaction growth indicate underlying customer traction, supporting multi-year unit economics and management's raised 2026 revenue and EBITDA guidance.
Read all positive factors
Dutch Bros Inc Key Performance Indicators (KPIs)
Any
Gross Profit by Segment
Breaks down gross profit across business segments (company stores, franchising, retail products), highlighting which parts of the business generate the most margin and where pricing or cost pressure could most impact overall profitability.
Breaks down gross profit across business segments (company stores, franchising, retail products), highlighting which parts of the business generate the most margin and where pricing or cost pressure could most impact overall profitability.
Data provided by:
The Fly
The FlyDutch Bros Inc (BROS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$10.82B
Dividend YieldN/A
Average Volume (3M)3.41M
Price to Earnings (P/E)105.7
Beta (1Y)1.93
Revenue Growth28.39%
EPS Growth64.25%
CountryUS
Employees24,000
SectorConsumer Cyclical
Sector Strength84
IndustryRestaurants
Share Statistics
EPS (TTM)0.64
Shares Outstanding127,292,625
10 Day Avg. Volume3,080,683
30 Day Avg. Volume3,409,886
Financial Highlights & Ratios
PEG Ratio0.90
Price to Book (P/B)11.27
Price to Sales (P/S)4.68
P/FCF Ratio141.01
Enterprise Value/Market Cap1.13
Enterprise Value/Revenue7.01
Enterprise Value/Gross Profit27.85
Enterprise Value/Ebitda46.21
Forecast
1Y Price Target
$79.06Price Target Upside47.93% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering19
EPS Forecast (FY)0.91
Revenue Forecast (FY)$2.08B
Dutch Bros Inc Business Overview & Revenue Model
Company Description
Dutch Bros Inc., in collaboration with its subsidiaries, operates and licenses drive-thru establishments throughout the United States. The company's business model is divided into two primary divisions: its directly owned and managed shops, and it...
How the Company Makes Money
Dutch Bros makes money primarily by selling beverages and related items to customers through its shop network. Its main revenue stream is company-operated shop sales, where revenue is recognized from transactions at the point of sale for drinks an...
Dutch Bros Inc Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Positive
The call presented strong operational and financial momentum: Q1 revenue and EBITDA grew 31% and 26% respectively, same-shop sales and transactions accelerated, AUVs hit record levels, the food rollout and conversions (Clutch) produced outsized performance, and the company raised full-year guidance. Offsetting factors include margin pressure from elevated coffee and higher occupancy costs due to a shift to build-to-suit leases, some one-time R&M/other cost items, and portions of the fleet that cannot accommodate food. Overall, management signaled confidence in growth trajectory while acknowledging cost headwinds that modestly constrain margin expansion.Positive Updates
Strong Revenue and Profit Growth
Total revenues of $464 million in Q1, up 31% year-over-year; adjusted EBITDA of $79 million, up 26% year-over-year; adjusted EPS $0.16 versus $0.14 in prior-year Q1.
Negative Updates
Higher Commodity and Food-Related COGS
Beverage, food and packaging costs were 26.2% of company-operated shop revenue, up 120 basis points YoY, primarily due to higher coffee costs and food rollout; company now anticipates ~60 basis points of total COGS pressure for 2026.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Revenue and Profit Growth
Total revenues of $464 million in Q1, up 31% year-over-year; adjusted EBITDA of $79 million, up 26% year-over-year; adjusted EPS $0.16 versus $0.14 in prior-year Q1.
Read all positive updates
Company Guidance
Management raised full‑year 2026 targets, now forecasting total revenues of $2.05–$2.08 billion (≈25%–27% y/y), system same‑shop sales growth of 4%–6% (with Q2 approaching ~5%), at least 185 system shop openings in 2026 and a clear path to 2,029 shops by 2029, adjusted EBITDA of $370–$380 million (midpoint assumes ~30 bps net adjusted EBITDA margin pressure), and unchanged CapEx guidance of $270–$290 million. The outlook also contemplates roughly 60 bps of total COGS pressure and ~80 bps of full‑year leverage on adjusted SG&A, expects the new food rollout and many Clutch Coffee Bar conversions to be largely complete by end‑of‑Q3 (conversion CapEx incl. purchase allocation ≈$1.4M per shop; Q1 average CapEx per shop ≈$1.3M), and emphasised strong liquidity (~$698M total, including ~$264M cash) supporting execution.Dutch Bros Inc Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
58
Neutral
Cash Flow
66
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.75B | 1.64B | 1.28B | 965.78M | 739.01M | 497.88M |
| Gross Profit | 440.00M | 423.95M | 340.13M | 251.30M | 180.92M | 153.30M |
| EBITDA | 265.14M | 279.06M | 204.91M | 118.38M | 46.09M | -87.25M |
| Net Income | 80.59M | 79.84M | 35.26M | 1.72M | -4.75M | -12.68M |
Balance Sheet | ||||||
| Total Assets | 3.11B | 3.01B | 2.50B | 1.76B | 1.19B | 553.70M |
| Cash, Cash Equivalents and Short-Term Investments | 263.52M | 269.40M | 293.35M | 133.54M | 20.18M | 18.51M |
| Total Debt | 1.16B | 1.09B | 942.91M | 676.58M | 625.42M | 150.69M |
| Total Liabilities | 2.18B | 2.11B | 1.74B | 1.09B | 934.38M | 339.97M |
| Stockholders Equity | 696.45M | 680.82M | 537.37M | 364.35M | 129.12M | 94.52M |
Cash Flow | ||||||
| Free Cash Flow | 90.80M | 54.41M | 24.69M | -88.54M | -128.00M | -38.07M |
| Operating Cash Flow | 343.38M | 295.55M | 246.43M | 139.91M | 59.88M | 80.38M |
| Investing Cash Flow | -272.35M | -241.07M | -212.07M | -227.28M | -192.57M | -121.09M |
| Financing Cash Flow | -123.96M | -78.43M | 125.45M | 200.73M | 134.36M | 27.58M |
Dutch Bros Inc Technical Analysis
Positive
53.44
Price Trends
60.22
Positive
56.15
Positive
56.64
Positive
Market Momentum
2.13
Positive
55.31
Neutral
31.34
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BROS, the sentiment is Positive. The current price of 53.44 is below the 20-day moving average (MA) of 68.07, below the 50-day MA of 60.22, and below the 200-day MA of 56.64, indicating a neutral trend. The MACD of 2.13 indicates Positive momentum. The RSI at 55.31 is Neutral, neither overbought nor oversold. The STOCH value of 31.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BROS.
Dutch Bros Inc Risk Analysis
Dutch Bros Inc disclosed 66 risk factors in its most recent earnings report. Dutch Bros Inc reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Dutch Bros Inc Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $44.38B | 32.56 | 48.45% | ― | 5.67% | -4.28% | |
71 Outperform | $44.76B | 26.21 | -23.33% | 1.84% | 9.65% | 23.32% | |
67 Neutral | $196.45B | 22.68 | -433.90% | 2.31% | 6.76% | 6.96% | |
66 Neutral | $10.82B | 105.72 | 12.07% | ― | 28.39% | 64.25% | |
64 Neutral | $121.28B | 80.67 | -18.33% | 2.88% | 5.88% | -52.37% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
50 Neutral | $1.11B | 39.96 | -6.47% | 4.72% | -2.41% | -64.77% |
* Consumer Cyclical Sector Average
BROS
Dutch Bros Inc
67.56
4.12
6.49%
CMG
Chipotle
35.25
-19.57
-35.70%
MCD
McDonald's
274.60
-20.13
-6.83%
PZZA
Papa John's International
33.49
-11.23
-25.11%
SBUX
Starbucks
106.01
14.99
16.47%
YUM
Yum! Brands
163.54
19.15
13.26%
Dutch Bros Inc Corporate Events
Executive/Board ChangesShareholder Meetings
Dutch Bros Shareholders Back Directors and Governance Proposals
Positive
May 15, 2026
On May 13, 2026, Dutch Bros Inc. held its 2026 annual stockholders’ meeting, at which approximately 95.2% of the company’s voting power was represented remotely or by proxy. Stockholders elected nine directors, including Executive Chai...
Business Operations and StrategyFinancial Disclosures
Dutch Bros Lifts 2026 Outlook After Strong Q1 Results
Positive
May 6, 2026
Dutch Bros Inc., a fast-growing U.S. drive-thru beverage operator and franchisor, specializes in high-quality, customizable hot and cold drinks served with an emphasis on speed and service. Founded in 1992 in Oregon, the company has expanded to 1,...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.