Dutch Bros Inc. · Eating & Drinking Places

BROS

Moderate riskNext report: In 7 days (est.)

View price ↗

The short version

A profitable company with growing sales.

Going well

Sales up 33% in the latest quarter vs a year ago
Profitable
Sales up 28% last year

Watch out for

Share count growing 34.3% a year (dilution)

Money moves

Insiders sold $12.8M in the last 30 days, all through pre-planned sales
Institutions cut 1.1% from their holdings in the quarter ending June 2026 (277 bought, 226 sold)
Held by Ray Dalio (Bridgewater)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$42.05+1.3% that day

Company value: $5.7B; Share price times all shares
Price vs profit (P/E): 58.4x; You pay about $58 for each $1 of yearly profit
Price vs sales: 3.0x; Company value is 3.0 times a year of sales
Cash vs value: 5%; Cash as a share of company value
Debt vs value: 4%; Debt as a share of company value

From BROS's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$550.9M+32% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $1.9B, up 30% from the 12 months before. Over 5 years, sales grew about 38% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of BROS. Starting points are the company's recent numbers.

Sales growth+30% a yearRecently: +30% a yearProfit margin5%Last 12 months: 4.9%P/E at the end40xToday: 58.4x. Many steady companies trade at 12x to 25xShare count change+10% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$7.0B

Profit in 5 years$349M

Price these guesses point to$64.41+53% vs $42.05 todayAbout +8.9% a year, before dividends

What today's price needs: with a 5% margin and a 40x P/E, sales would have to grow about 19% a year for 5 years just to match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

2/6Weak

MissReturn on equity 15%+Earns a lot on the money owners have in the business.13.1%
PassDebt under half of equityNot relying on borrowed money.0.30x equity
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.4.9%
MissProfitable every yearSteady profits, not one good year.3 of 7 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$54.4M
MissShare count not growingNot diluting owners. Falling means buybacks.+142.5% in 3 years

Revenue: $1.6B; +27.9% vs prior year
5-year growth: +38.0%/yr; revenue, per year
Total debt: $202.5M; 0.30x equity
Current ratio: 1.49x; short-term assets / bills due

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: gross margin 40%+. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Jun 30, 2026

Reported Aug 5

Revenue: $550.9M; +32.5% YoY
EPS: $0.28; vs $0.20
Op. margin: 12.8%; -0.3 pts
Gross margin: 27.4%; -1.5 pts
Free cash flow: $39.9M
Share count: +6.3%; vs a year ago

Insider rating

Last 90 days

43Mixed

Pre-planned sales of $12.8M (weaker signal)

50 is neutral. Buying by more insiders, top executives and bigger stakes raises it. Selling lowers it; pre-planned sales count less.

Weekly insider trend

13 weeks agoBoughtSoldThis week

Filing buzz

Last 7 days vs normal

72/ 100

This week: 3
Normal week: 1.2
vs normal: 2.6x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Steady-1.1%

Institutions cut 1.1% from their holdings. 277 bought, 226 sold.

Shares held by institutions130.6M

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

+32.9%

Cash runwayAt last year's cash burn

Cash flow positive

Debt to equityLatest balance sheet: debt compared with what owners have

0.3x · $200.5M debt

Shares outstandingLatest reported

135M

Why moderate risk

Share count growing 32.9% a year (dilution)

Earnings reports

Last 12

Next reportIn 7 days (est.)Estimated from the same quarter last year

Results filedAug 5
Results filedMay 6
Results filedFeb 12
Results filedNov 5, 2025
Results filedAug 6, 2025

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

5%+ holder update (passive)Aug 12 · View filing ↗Big holder 5%+ holder update (passive)Aug 6 · View filing ↗Big holder

Insider trades

Open-market buys and sells, last 90 days

Bought$00 insiders

Sold$12.8M3 insiders, 3 pre-planned

Insider	Trade	Shares	Avg price	Value	Owns after	Date
Travis BoersmaExecutive Chairman of Board	Sell	146K	$44.01	$6.4M	2M	Oct 20Filing ↗
-5.8% of their holdings 2 trades Held via DM Individual Aggregator, LLC Pre-planned sale (10b5-1) Also Director and 10% owner Filed 2 days after
DM Trust Aggregator, LLC10% owner	Sell	95K	$44.01	$4.2M	4M	Oct 20Filing ↗
-2.1% of their holdings Pre-planned sale (10b5-1) Filed 2 days after
DM Individual Aggregator, LLC10% owner	Sell	51K	$44.01	$2.2M	2M	Oct 20Filing ↗
-2.1% of their holdings Pre-planned sale (10b5-1) Filed 2 days after