Dutch Bros (NYSE:BROS) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Dutch Bros (NYSE:BROS) released its quarterly earnings results on Thursday. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.07, FiscalAI reports. Dutch Bros had a return on equity of 8.91% and a net margin of 4.04%.The firm had revenue of $443.61 million for the quarter, compared to the consensus estimate of $424.44 million. During the same period last year, the business posted $0.07 EPS. The company’s revenue for the quarter was up 29.4% on a year-over-year basis.

Here are the key takeaways from Dutch Bros’ conference call:

• Dutch Bros reported strong 2025 results—$1.64 billion in revenue (up 28%) and $303 million in Adjusted EBITDA (up 31%), with record system-wide AUVs of $2.1M and Q4 system same‑shop sales growth of 7.7%.
• Aggressive unit growth—system shop count reached 1,136 after 154 openings in 2025, management targets 2,029 shops by 2029 and now expects at least 181 shop openings in 2026 (including 20 Clutch conversions), while average CapEx per shop declined to ~$1.3M in Q4.
• Transaction drivers scaling—Order Ahead hit ~14% mix in Q4, Dutch Rewards surpassed 15 million members (≈72% of transactions), CPG rollout is live, and the new food program (expanded to ~300 shops) has shown roughly a 4% comp lift in pilot locations.
• Margin and commodity headwinds—elevated coffee costs pressured COGS in 2025 and are expected to cause ~200 basis points of COGS pressure in Q1 2026 and ~80bps for the full year, contributing to modest Adjusted EBITDA margin pressure in 2026 (Adj. EBITDA guide $355–365M).
• Strong liquidity and cash generation—approximately $705 million total liquidity ( ~$269M cash and ~$435M undrawn revolver), consistent net cash additions and free cash flow for a second consecutive year; 2026 CapEx guided to $270–290M.

Dutch Bros Price Performance

Shares of Dutch Bros stock opened at $51.00 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. Dutch Bros has a 52 week low of $47.16 and a 52 week high of $86.88. The stock’s 50-day simple moving average is $60.15 and its 200-day simple moving average is $59.40. The company has a market capitalization of $8.39 billion, a price-to-earnings ratio of 102.00, a PEG ratio of 2.25 and a beta of 2.54.

Key Dutch Bros News

Here are the key news stories impacting Dutch Bros this week:

• Positive Sentiment: Quarterly beat and momentum — Dutch Bros reported stronger-than-expected Q4 results (EPS beat and revenue growth; comps +7.7% led by a +5.4% increase in transactions), supporting tighter margins and profit growth. Dutch Bros Is Boiling After Strong Earnings
• Positive Sentiment: Aggressive growth plan — management reiterated rapid expansion (plan to open at least ~181 new shops in 2026) with FY26 capex guidance (~$270–$290M), which underpins future revenue and unit growth expectations. Dutch Bros Is Boiling After Strong Earnings
• Neutral Sentiment: Call materials and details published — the earnings call transcript and the investor slide deck are available for deeper read on unit economics, geography rollout and food strategy (useful for modeling). Dutch Bros Inc. 2025 Q4 – Results – Earnings Call Presentation
• Negative Sentiment: Large insider selling — recent filings show substantial open‑market sales by insiders (including executive leadership), which can create near‑term selling pressure and concern among investors. Dutch Bros Inc. (BROS) Stock Rises on Q4 2025 Earnings
• Negative Sentiment: Valuation and capital intensity — the stock trades at a high multiple (P/E and PEG elevated) and the planned capex/rapid openings raise near-term cash burn and leverage risk (debt and liabilities have risen), which can make the name vulnerable if unit economics or margins slip. MarketBeat BROS Profile
• Negative Sentiment: Execution risks — initiatives such as expanding food offerings and scaling quickly face operational tests; investors may be trimming exposure until proof of durable margin expansion is clear. Dutch Bros earnings on deck as food expansion faces test

Wall Street Analyst Weigh In

Several brokerages have issued reports on BROS. Zacks Research cut Dutch Bros from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 21st. Piper Sandler cut their price objective on shares of Dutch Bros from $73.00 to $63.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. UBS Group reaffirmed a “buy” rating on shares of Dutch Bros in a report on Monday. Citigroup reissued a “buy” rating on shares of Dutch Bros in a report on Friday. Finally, Mizuho raised their price objective on Dutch Bros from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Dutch Bros presently has a consensus rating of “Moderate Buy” and an average price target of $77.20.

Insider Activity at Dutch Bros

In other news, major shareholder Dm Individual Aggregator, Llc sold 648,089 shares of Dutch Bros stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $55.44, for a total transaction of $35,930,054.16. Following the sale, the insider owned 9,817 shares in the company, valued at $544,254.48. This trade represents a 98.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Travis Boersma sold 1,678,616 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $55.44, for a total transaction of $93,062,471.04. Following the completion of the transaction, the chairman directly owned 9,817 shares in the company, valued at $544,254.48. This trade represents a 99.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,465,214 shares of company stock worth $189,800,291 in the last three months. 42.40% of the stock is owned by corporate insiders.

Institutional Trading of Dutch Bros

A number of institutional investors and hedge funds have recently bought and sold shares of BROS. Lazard Asset Management LLC boosted its holdings in shares of Dutch Bros by 6.5% during the 3rd quarter. Lazard Asset Management LLC now owns 4,434 shares of the company’s stock valued at $232,000 after purchasing an additional 270 shares during the last quarter. Rakuten Securities Inc. lifted its position in shares of Dutch Bros by 557.4% in the second quarter. Rakuten Securities Inc. now owns 447 shares of the company’s stock worth $31,000 after buying an additional 379 shares in the last quarter. GW&K Investment Management LLC boosted its stake in Dutch Bros by 79.4% during the fourth quarter. GW&K Investment Management LLC now owns 863 shares of the company’s stock valued at $53,000 after buying an additional 382 shares during the last quarter. Osterweis Capital Management Inc. purchased a new position in Dutch Bros during the 2nd quarter valued at approximately $27,000. Finally, Prosperity Wealth Management Inc. increased its stake in Dutch Bros by 7.8% in the 3rd quarter. Prosperity Wealth Management Inc. now owns 6,550 shares of the company’s stock worth $343,000 after acquiring an additional 475 shares during the last quarter. 85.54% of the stock is currently owned by institutional investors.

About Dutch Bros

Dutch Bros Coffee, trading on the NYSE under the ticker BROS, is an American drive-through coffee chain known for its quick-service model and community-focused brand. Founded in 1992 by brothers Dane and Travis Boersma in Grants Pass, Oregon, the company began as a single coffee stand and has since expanded its footprint across numerous U.S. markets. Dutch Bros specializes in handcrafted espresso drinks, drip coffee, cold brew, energy drinks, smoothies, teas, and a variety of signature “Dutch Freeze” and “Dutch Frost” blended beverages.

The company operates a mix of company-owned and franchised locations, placing a strong emphasis on speed and customer engagement.