Cash flow Dutch Bros Inc.

Stocks

BROS

US26701L1008

Restaurants & Bars

Market Closed - NYSE Other stock markets 21:00:02 15/07/2026 BST			5-day change	1st Jan Change
63.86 ^USD	-0.30%		-1.65%	+4.31%

07-15	Restaurants, Food Distributors Poised for Mixed Second Quarter, Morgan Stanley Says	MT
07-15	Restaurant Sector Remains Mixed as Stronger Operators Outperform, Morgan Stanley Says	MT

2a1864a8b3973dd74fcd.MzOFJIt23D4IkBQJCdDXbWeihS8WKCG4Yxu9J3rJjQE.RUnfHN8jkgtixWcwbaimNVH4y0BHb2nADFCLHiCswmAKAP9QzCypDGHlXQ

Published financial data: DUTCH BROS INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	498M	739M	966M	1.28B	1.64B
Total Revenues	498M	739M	966M	1.28B	1.64B
Cost of Goods Sold, Total	346M	558M	714M	941M	1.21B
Gross Profit	152M	181M	251M	340M	424M
Selling General & Admin Expenses, Total	265M	181M	202M	216M	255M
Other Operating Expenses, Total	265M	181M	202M	216M	255M
Operating Income	-113M	384K	49.17M	124M	169M
Interest Expense, Total	-7.09M	-18.02M	-32.32M	-27.02M	-28.3M
Net Interest Expenses	-7.09M	-18.02M	-32.32M	-27.02M	-28.3M
Other Non Operating Income (Expenses)	46K	3.98M	3.02M	5.81M	4.75M
EBT, Excl. Unusual Items	-120M	-13.66M	19.87M	103M	146M
Restructuring Charges	-	-	-	-17.88M	-8.24M
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Legal Settlements	-	-	-1.95M	-	-
Other Unusual Items	67.32M	-3M	-1M	-75K	-2M
EBT, Incl. Unusual Items	-53M	-16.65M	16.92M	84.88M	136M
Income Tax Expense	-1.63M	2.6M	6.97M	18.44M	18.35M
Earnings From Continuing Operations	-51.38M	-19.25M	9.95M	66.45M	117M
Net Income to Company	-51.38M	-19.25M	9.95M	66.45M	117M
Minority Interest	38.46M	14.5M	-8.23M	-31.19M	-37.43M
Net Income - (IS)	-12.91M	-4.75M	1.72M	35.26M	79.84M
Preferred Dividend and Other Adjustments	-	-	-	-	-
Net Income to Common Incl Extra Items	-12.91M	-4.75M	1.72M	35.26M	79.84M
Net Income to Common Excl. Extra Items	-12.91M	-4.75M	1.72M	35.26M	79.84M
Per Share Items
Net EPS - Basic	-0.28	-0.09	0.03	0.34	0.64
Basic EPS - Continuing Operations	-0.28	-0.09	0.03	0.34	0.64
Basic Weighted Average Shares Outstanding	45.86M	51.87M	62.07M	104M	125M
Net EPS - Diluted	-0.28	-0.09	0.03	0.34	0.64
Diluted EPS - Continuing Operations	-0.28	-0.09	0.03	0.34	0.64
Diluted Weighted Average Shares Outstanding	45.86M	51.87M	62.07M	104M	126M
Normalized Basic EPS	-0.8	0.11	0.07	0.32	0.43
Normalized Diluted EPS	-0.8	0.11	0.07	0.32	0.43
Payout Ratio	-1.65K	-	-	-	-
Supplemental Items
EBITDA	-88.06M	45.11M	118M	217M	285M
EBITA	-110M	4.42M	52.56M	127M	171M
EBIT	-113M	384K	49.17M	124M	169M
EBITDAR	-78.09M	65.56M	143M	254M	338M
Total Revenues (As Reported)	498M	739M	966M	1.28B	1.64B
Effective Tax Rate - (Ratio)	3.07	-15.61	41.18	21.72	13.53
Current Domestic Taxes	1.04M	1.52M	1.04M	3.05M	730K
Total Current Taxes	1.04M	1.52M	1.04M	3.05M	730K
Deferred Domestic Taxes	-2.66M	1.08M	5.93M	15.39M	17.62M
Total Deferred Taxes	-2.66M	1.08M	5.93M	15.39M	17.62M
Normalized Net Income	-36.74M	5.96M	4.18M	33.08M	53.73M
Interest on Long-Term Debt	-	9.3M	17.52M	22.05M	23.29M
Supplemental Operating Expense Items
Advertising Expense	30.65M	32.33M	29.9M	39.21M	-
Net Rental Expense, Total	9.96M	20.44M	24.66M	37.22M	53.32M
Imputed Operating Lease Interest Expense	4.6M	7.59M	9.79M	9.94M	11.88M
Imputed Operating Lease Depreciation	5.36M	12.85M	14.86M	27.29M	41.43M
Stock-Based Comp., COGS (Total)	-	-	-	887K	2.14M
Stock-Based Comp., SG&A Exp. (Total)	158M	41.66M	39.22M	10.6M	15.89M
Total Stock-Based Compensation	158M	41.66M	39.22M	11.48M	18.02M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	18.51M	20.18M	134M	293M	269M
Trading Asset Securities, Total	-	1.46M	1.37M	953K	466K
Total Cash And Short Term Investments	18.51M	21.64M	135M	294M	270M
Accounts Receivable, Total	10.64M	11.97M	9.12M	10.6M	18.39M
Total Receivables	10.64M	11.97M	9.12M	10.6M	18.39M
Inventory	23.34M	39.23M	46.95M	36.49M	48.92M
Prepaid Expenses	8.8M	9.49M	14.27M	16.55M	20.2M
Total Current Assets	61.29M	82.32M	205M	358M	357M
Gross Property Plant And Equipment	357M	855M	1.24B	1.55B	1.94B
Accumulated Depreciation	-55.05M	-72.5M	-116M	-177M	-262M
Net Property Plant And Equipment	302M	783M	1.12B	1.37B	1.68B
Long-term Investments	-	1.71M	837K	832K	-
Goodwill	18.72M	21.63M	21.63M	21.63M	21.63M
Other Intangibles, Total	11.1M	8.8M	5.42M	2.95M	1.51M
Deferred Tax Assets Long-Term	159M	289M	403M	742M	947M
Other Long-Term Assets, Total	1.56M	421K	3.03M	1.76M	2.38M
Total Assets	554M	1.19B	1.76B	2.5B	3.01B
Liabilities
Accounts Payable, Total	20.44M	21.27M	29.96M	32.22M	37.62M
Accrued Expenses, Total	24.51M	27.45M	47.18M	76.29M	83.82M
Short-term Borrowings	64.1M	111M	-	-	-
Current Portion of Long-Term Debt	103K	2.61M	4.49M	17.31M	3.88M
Current Portion of Leases	3.39M	17.29M	19.72M	27.24M	36.47M
Unearned Revenue Current, Total	22.81M	25.34M	30.35M	42.87M	55.66M
Other Current Liabilities	6.92M	7.86M	6.42M	7.14M	23.05M
Total Current Liabilities	142M	213M	138M	203M	240M
Long-Term Debt	525K	94.92M	90.15M	220M	196M
Long-Term Leases	82.57M	400M	562M	679M	852M
Unearned Revenue Non Current	5.03M	6.12M	6.68M	8.02M	8.92M
Other Non Current Liabilities	113M	221M	291M	628M	813M
Total Liabilities	344M	934M	1.09B	1.74B	2.11B
Common Stock, Total	2K	2K	2K	1K	1K
Additional Paid In Capital	106M	146M	379M	517M	581M
Retained Earnings	-12.91M	-17.31M	-15.59M	19.67M	99.51M
Comprehensive Income and Other	-	813K	544K	628K	48K
Total Common Equity	93.5M	129M	364M	537M	681M
Minority Interest	117M	123M	312M	226M	217M
Total Equity	210M	252M	676M	764M	898M
Total Liabilities And Equity	554M	1.19B	1.76B	2.5B	3.01B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	50M	58.07M	81.21M	116M	127M
ECS Total Common Shares Outstanding	49.87M	57.96M	80.63M	115M	127M
Book Value / Share	1.87	2.23	4.52	4.66	5.36
Tangible Book Value	63.68M	98.68M	337M	513M	658M
Tangible Book Value Per Share	1.28	1.7	4.18	4.44	5.18
Total Debt	151M	625M	677M	943M	1.09B
Net Debt	132M	604M	542M	649M	819M
Debt Equivalent Oper. Leases	79.7M	164M	197M	298M	427M
Minority Interest, Total (Incl. Fin. Div)	117M	123M	312M	226M	217M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	5.55M	21.34M	28.52M	14.59M	25.52M
Inventories - Finished Goods, Total	17.8M	17.89M	18.43M	21.89M	23.4M
Land - (BS)	5.24M	7.96M	7.34M	7.02M	7.02M
Buildings, Total	78.45M	158M	269M	487M	616M
Machinery, Total	67.48M	103M	167M	229M	305M
Full Time Employees	11K	14K	16K	18K	23K
Assets under Capital Lease - Gross	89.94M	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-10.98M	-	-	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	-12.91M	-4.75M	1.72M	35.26M	79.84M
Depreciation & Amortization - CF	21.69M	40.69M	65.75M	90.54M	114M
Amortization of Goodwill and Intangible Assets - (CF)	3.53M	4.03M	3.39M	2.47M	1.44M
Depreciation & Amortization, Total	25.22M	44.73M	69.14M	93M	115M
(Gain) Loss From Sale Of Asset	657K	-340K	-23K	-1.28M	300K
Stock-Based Compensation (CF)	158M	41.66M	39.22M	11.48M	18.02M
Other Operating Activities, Total	-108M	-6.28M	23.84M	61.06M	72.58M
Change In Accounts Receivable	193K	-1.32M	2.84M	-1.47M	-7.79M
Change In Inventories	-7.67M	-15.82M	-7.72M	10.46M	-12.43M
Change In Accounts Payable	2.15M	1.61M	3.9M	3.66M	3.71M
Change in Unearned Revenues	11.71M	3.37M	5.57M	13.86M	13.69M
Change in Other Net Operating Assets	11.47M	-2.96M	1.43M	20.4M	12.48M
Cash from Operations	80.38M	59.88M	140M	246M	296M
Capital Expenditure	-118M	-188M	-228M	-222M	-241M
Sale of Property, Plant, and Equipment	2.74M	1.36M	1.18M	9.67M	66K
Cash Acquisitions	-5.39M	-6.05M	-	-	-
Sale (Purchase) of Intangible assets	-	-	-	-	-
Cash from Investing	-121M	-193M	-227M	-212M	-241M
Short Term Debt Issued, Total	65M	158M	90M	2.45M	-
Long-Term Debt Issued, Total	201M	1.38M	1.65M	150M	250M
Total Debt Issued	266M	159M	91.65M	152M	250M
Short Term Debt Repaid, Total	-15M	-10M	-203M	-2.45M	-
Long-Term Debt Repaid, Total	-230M	-7.82M	-15.04M	-21.59M	-303M
Total Debt Repaid	-245M	-17.82M	-218M	-24.04M	-303M
Issuance of Common Stock	525M	-	331M	-	-
Repurchase of Common Stock	-299M	-3.9M	-1.9M	-1.07M	-12.52M
Common Dividends Paid	-213M	-	-	-	-
Common & Preferred Stock Dividends Paid	-213M	-	-	-	-
Other Financing Activities, Total	-6.21M	-3M	-2.47M	-1.89M	-13.11M
Cash from Financing	27.58M	134M	201M	125M	-78.43M
Net Change in Cash	-13.13M	1.67M	113M	160M	-23.95M
Supplemental Items
Cash Interest Paid	7.35M	17.61M	34.97M	39.1M	38.97M
Cash Income Tax Paid (Refund)	886K	1.32M	1.73M	2.25M	996K
Levered Free Cash Flow	13.84M	-120M	-87.24M	-5.28M	-2.03M
Unlevered Free Cash Flow	18.27M	-108M	-67.04M	11.61M	15.66M
Change In Net Working Capital	-24.58M	7.12M	-22.33M	-51.33M	-17.75M
Net Debt Issued / Repaid	21.24M	141M	-126M	128M	-52.79M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	-17.41	0.03	2.08	3.64	3.84
Return on Total Capital	14.11	0.04	2.76	5.07	5.73
Return On Equity %	8.22	-8.27	2.14	9.23	14.11
Return on Common Equity	1.89	-4.25	0.7	7.82	13.11
Margin Analysis
Gross Profit Margin %	30.48	24.48	26.02	26.55	25.88
SG&A Margin	53.23	24.43	20.93	16.87	15.54
EBITDA Margin %	-17.69	6.1	12.25	16.94	17.37
EBITA Margin %	-22.04	0.6	5.44	9.88	10.43
EBIT Margin %	-22.75	0.05	5.09	9.68	10.34
Income From Continuing Operations Margin %	-10.32	-2.61	1.03	5.19	7.16
Net Income Margin %	-2.59	-0.64	0.18	2.75	4.87
Net Avail. For Common Margin %	-2.59	-0.64	0.18	2.75	4.87
Normalized Net Income Margin	-7.38	0.81	0.43	2.58	3.28
Levered Free Cash Flow Margin	2.78	-16.19	-9.03	-0.41	-0.12
Unlevered Free Cash Flow Margin	3.67	-14.67	-6.94	0.91	0.96
Asset Turnover
Asset Turnover	1.22	0.85	0.65	0.6	0.59
Fixed Assets Turnover	2.13	1.36	1.01	1.03	1.07
Receivables Turnover (Average Receivables)	46.36	65.37	91.59	129.91	113.03
Inventory Turnover (Average Inventory)	17.78	17.84	16.58	22.55	28.43
Short Term Liquidity
Current Ratio	0.43	0.39	1.49	1.76	1.49
Quick Ratio	0.2	0.16	1.04	1.5	1.2
Operating Cash Flow to Current Liabilities	0.56	0.28	1.01	1.21	1.23
Days Sales Outstanding (Average Receivables)	7.87	5.58	3.99	2.82	3.23
Days Outstanding Inventory (Average Inventory)	20.52	20.46	22.01	16.23	12.84
Average Days Payable Outstanding	18.84	13.26	12.94	12.23	10.39
Cash Conversion Cycle (Average Days)	9.56	12.78	13.05	6.82	5.67
Long Term Solvency
Total Debt/Equity	71.69	248.2	100.1	123.44	121.29
Total Debt / Total Capital	41.76	71.28	50.02	55.24	54.81
LT Debt/Equity	39.53	196.31	96.52	117.61	116.8
Long-Term Debt / Total Capital	23.02	56.38	48.23	52.64	52.78
Total Liabilities / Total Assets	62.04	78.76	61.68	69.46	70.16
EBIT / Interest Expense	-15.97	0.02	1.52	4.59	5.99
EBITDA / Interest Expense	-12.41	3.64	4.42	9.41	11.94
(EBITDA - Capex) / Interest Expense	-29.11	-6.79	-2.65	1.2	3.42
Total Debt / EBITDA	-1.71	9.54	4.73	3.71	3.22
Net Debt / EBITDA	-1.5	9.21	3.79	2.55	2.42
Total Debt / (EBITDA - Capex)	-0.73	-5.11	-7.91	28.98	11.26
Net Debt / (EBITDA - Capex)	-0.64	-4.94	-6.34	19.94	8.47
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	52.06	48.43	30.68	32.64	27.88
Gross Profit, 1 Yr. Growth %	31.11	18.01	38.9	35.35	24.64
EBITDA, 1 Yr. Growth %	-436.04	-152.45	162.25	80.18	30.21
EBITA, 1 Yr. Growth %	-923.45	-104.1	1.09K	131.22	33.48
EBIT, 1 Yr. Growth %	-1.16K	-100.35	12.71K	141.68	34.96
Earnings From Cont. Operations, 1 Yr. Growth %	-	-61.92	-151.69	567.7	76.49
Net Income, 1 Yr. Growth %	-	-62.51	-136.15	1.95K	126.45
Normalized Net Income, 1 Yr. Growth %	-994.97	-116.19	-29.84	498.23	57.98
Diluted EPS Before Extra, 1 Yr. Growth %	-	-67.27	-130.2	1.13K	87.13
Accounts Receivable, 1 Yr. Growth %	-1.78	12.42	-23.75	16.16	73.49
Inventory, 1 Yr. Growth %	49.84	68.04	19.69	-22.29	34.06
Net Property, Plant and Equip., 1 Yr. Growth %	82.56	159.18	43.71	22.14	22.27
Total Assets, 1 Yr. Growth %	113.24	114.26	48.69	41.78	20.32
Tangible Book Value, 1 Yr. Growth %	-104.28	52.53	241.8	52.03	28.25
Common Equity, 1 Yr. Growth %	-106.4	36.61	182.18	47.49	26.69
Cash From Operations, 1 Yr. Growth %	50.1	-25.5	133.65	76.13	19.93
Capital Expenditures, 1 Yr. Growth %	191.91	58.62	21.6	-2.94	8.75
Levered Free Cash Flow, 1 Yr. Growth %	-2.92	-1.13K	-27.08	-93.85	-53.33
Unlevered Free Cash Flow, 1 Yr. Growth %	10.13	-776.99	-38.15	-117.67	24.91
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	44.52	50.24	39.28	31.66	30.24
Gross Profit, 2 Yr. CAGR %	25.69	24.92	28.03	37.11	29.89
EBITDA, 2 Yr. CAGR %	48.43	30.38	17.28	119.35	53.69
EBITA, 2 Yr. CAGR %	83.4	-43.13	-30.14	435.12	76.71
EBIT, 2 Yr. CAGR %	93.36	-81.32	-33.51	1.7K	81.68
Earnings From Cont. Operations, 2 Yr. CAGR %	-	-	-55.63	85.78	243.28
Net Income, 2 Yr. CAGR %	-	-	-63.19	172.36	581.72
Normalized Net Income, 2 Yr. CAGR %	43.68	17.59	-66.3	135.52	211.71
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-	-68.56	92.53	379.22
Accounts Receivable, 2 Yr. CAGR %	26.81	5.08	-7.42	-5.89	41.96
Inventory, 2 Yr. CAGR %	46.25	58.68	41.82	-3.56	2.07
Net Property, Plant and Equip., 2 Yr. CAGR %	71.09	117.52	92.99	32.49	22.2
Total Assets, 2 Yr. CAGR %	81.39	113.75	78.49	45.2	30.61
Tangible Book Value, 2 Yr. CAGR %	-73.2	-74.26	128.33	127.95	39.64
Common Equity, 2 Yr. CAGR %	-67.02	-70.26	96.34	104.01	36.7
Cash From Operations, 2 Yr. CAGR %	19.06	5.75	31.94	102.86	45.34
Capital Expenditures, 2 Yr. CAGR %	73.24	115.18	38.88	8.64	2.74
Levered Free Cash Flow, 2 Yr. CAGR %	-	187.59	174.52	-78.99	-84.63
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	153.99	104.63	-67.28	-51.17
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	45.81	43.41	37.03	30.39
Gross Profit, 3 Yr. CAGR %	-	23.49	29.42	30.43	32.82
EBITDA, 3 Yr. CAGR %	-	4.12	64.58	36.15	84.77
EBITA, 3 Yr. CAGR %	-	-48.65	56.7	5.51	238.17
EBIT, 3 Yr. CAGR %	-	-76.68	64.73	3.7	661.28
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-	-	9.54	82.63
Net Income, 3 Yr. CAGR %	-	-	-	40.62	156.11
Normalized Net Income, 3 Yr. CAGR %	-	-30.54	-1.01	-3.53	108.08
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	-	6.65	90.71
Accounts Receivable, 3 Yr. CAGR %	-	21.82	-5.57	-0.14	15.4
Inventory, 3 Yr. CAGR %	-	53.18	44.44	16.05	7.63
Net Property, Plant and Equip., 3 Yr. CAGR %	-	96.49	89.45	65.7	28.99
Total Assets, 3 Yr. CAGR %	-	91.75	89.39	65.3	36.38
Tangible Book Value, 3 Yr. CAGR %	-	-51.9	-39.04	99.38	88.19
Common Equity, 3 Yr. CAGR %	-	-46.84	-37.04	78.48	74.05
Cash From Operations, 3 Yr. CAGR %	-	1.84	37.73	45.28	70.26
Capital Expenditures, 3 Yr. CAGR %	-	68.22	77.9	23.25	8.67
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	82.02	-23.02	-74.3
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	58.61	-10.16	-47.53
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	-	39.98	37.99
Gross Profit, 5 Yr. CAGR %	-	-	-	28.77	29.6
EBITDA, 5 Yr. CAGR %	-	-	-	40.27	60.72
EBITA, 5 Yr. CAGR %	-	-	-	31.13	65.74
EBIT, 5 Yr. CAGR %	-	-	-	32.57	72.79
Normalized Net Income, 5 Yr. CAGR %	-	-	-	13.2	65.61
Accounts Receivable, 5 Yr. CAGR %	-	-	-	9.87	11.15
Inventory, 5 Yr. CAGR %	-	-	-	27.3	25.71
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	-	67.83	58.98
Total Assets, 5 Yr. CAGR %	-	-	-	71.56	63.23
Tangible Book Value, 5 Yr. CAGR %	-	-	-	-10.38	-15.08
Common Equity, 5 Yr. CAGR %	-	-	-	-8.97	-14.15
Cash From Operations, 5 Yr. CAGR %	-	-	-	34.16	40.73
Capital Expenditures, 5 Yr. CAGR %	-	-	-	41.23	42.82
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-	-32.48
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-	-1.4