Dutch Bros Inc. (BROS) Key Metrics
BROS valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $7.22B
- Enterprise value
- $6.24B
- P/E (TTM)
- 57.2
- Forward P/E
- 32.6
- PEG ratio
- 1.30
- Price / sales
- 3.8 10-yr median 4.7
- Price / book
- 6.6 10-yr median 11.3
- EV / EBITDA
- 19.5 10-yr median 31.5
- Dividend yield
- —
- Beta
- 2.31
BROS key metrics, 2019–2025
Fiscal year ended December 31, 2025 · U.S. dollarsBROS valuation Price multiples at each fiscal year-end price.
BROS returns How much profit the business earns on the capital it uses.
BROS per-share figures Results divided by the shares outstanding at year-end.
BROS financial health Debt, liquidity and how easily interest is covered.
BROS efficiency & capital use Working capital cycle and where the cash goes.
BROS valuation history
BROS returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
BROS debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
BROS cash returned to shareholders
BROS price vs earnings per share
BROS key metrics
2019–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Valuation | |||||||
| Market capitalization | $7.70B | $6.01B | $1.97B | $1.46B | $2.33B | — | — |
| Enterprise value | $8.52B | $6.66B | $2.51B | $2.07B | $2.47B | — | — |
| P/E ratio | 96.4 | 170.5 | — | — | — | — | — |
| Price / sales | 4.7 | 4.7 | 2.0 | 2.0 | 4.7 | — | — |
| Price / book | 11.3 | 11.2 | 5.4 | 11.3 | 24.7 | — | — |
| Price / free cash flow | 141.5 | 243.4 | — | — | — | — | — |
| Price / operating cash flow | 26.1 | 24.4 | 14.1 | 24.4 | 29.1 | — | — |
| EV / sales | 5.2 | 5.2 | 2.6 | 2.8 | 5.0 | — | — |
| EV / EBITDA | 30.5 | 32.5 | 21.2 | 44.9 | — | — | — |
| EV / free cash flow | 156.6 | 269.7 | — | — | — | — | — |
| Earnings yield | 1.0% | 0.6% | 0.1% | −0.3% | −0.5% | — | — |
| Free cash flow yield | 0.7% | 0.4% | −4.5% | −8.8% | −1.6% | — | — |
| Dividend yield | — | — | 0.0% | 0.3% | 9.1% | — | — |
| Shareholder yield (dividends + buybacks) | — | 0.0% | 0.1% | 0.6% | 21.5% | — | — |
| Share price at fiscal year-end | $61.22 | $52.38 | $31.67 | $28.19 | $50.91 | — | — |
| Per share | |||||||
| Revenue per share | $13.03 | $11.16 | $15.56 | $14.25 | $10.86 | $7.00 | $5.10 |
| Earnings per share | $0.63 | $0.31 | $0.03 | −$0.09 | −$0.28 | $0.12 | $0.61 |
| Operating cash flow per share | $2.35 | $2.15 | $2.25 | $1.15 | $1.75 | $1.15 | $1.21 |
| Free cash flow per share | $0.43 | $0.22 | −$1.43 | −$2.47 | −$0.83 | $0.28 | $0.37 |
| Cash per share | $2.14 | $2.56 | $2.15 | $0.39 | $0.40 | $0.68 | $0.33 |
| Book value per share | $5.41 | $4.68 | $5.87 | $2.49 | $2.06 | $1.63 | $1.67 |
| Tangible book value per share | $5.23 | $4.47 | $5.43 | $1.90 | $1.41 | $1.00 | $1.09 |
| Dividends per share | — | — | $0.00 | $0.08 | $4.65 | $0.17 | $0.14 |
| Capex per share | $1.92 | $1.93 | $3.68 | $3.62 | $2.58 | $0.87 | $0.84 |
| Debt per share | $8.66 | $8.22 | $10.90 | $12.06 | $3.29 | $2.03 | $1.02 |
| Shares outstanding | 125.8M | 114.8M | 62.1M | 51.9M | 45.9M | 46.7M | 46.7M |
| Change in shares outstanding | +9.6% | +84.9% | +19.7% | +13.1% | −1.9% | 0.0% | — |
| Returns & profitability | |||||||
| Return on equity (ROE) | 13.1% | 7.8% | 0.7% | −4.3% | −14.9% | 7.4% | 36.4% |
| Return on invested capital (ROIC) | 10.4% | 7.9% | 3.3% | −0.4% | −48.0% | 7.3% | 27.4% |
| Return on assets (ROA) | 2.9% | 1.7% | 0.1% | −0.5% | −3.1% | 2.7% | 16.9% |
| Return on tangible assets | 2.7% | 1.4% | 0.1% | −0.4% | −2.4% | 2.5% | 20.1% |
| Free cash flow margin | 3.3% | 1.9% | −9.2% | −17.3% | −7.6% | 4.0% | 7.2% |
| Income quality (OCF / net income) | 3.70 | 6.99 | 81.44 | — | — | 9.35 | 2.00 |
| Financial health | |||||||
| Total debt | $1.09B | $942.9M | $676.6M | $625.4M | $150.7M | $95.1M | $47.9M |
| Cash & short-term investments | $269.4M | $293.4M | $133.5M | $20.2M | $18.5M | $31.6M | $15.6M |
| Net debt | $819.6M | $649.6M | $543.0M | $605.2M | $132.2M | $63.5M | $32.3M |
| Debt / equity | 1.60 | 1.75 | 1.86 | 4.84 | 1.59 | 1.25 | 0.61 |
| Debt / assets | 0.36 | 0.38 | 0.38 | 0.53 | 0.27 | 0.37 | 0.28 |
| Net debt / EBITDA | 2.94 | 3.17 | 4.59 | 13.13 | — | 2.43 | 0.80 |
| Current ratio | 1.49 | 1.76 | 1.49 | 0.39 | 0.44 | 1.05 | 1.12 |
| Quick ratio | 1.28 | 1.58 | 1.15 | 0.20 | 0.27 | 0.79 | 0.79 |
| Interest coverage | 5.7 | 3.9 | 1.4 | -0.1 | -15.7 | 2.9 | 12.9 |
| Working capital | $116.9M | $154.9M | $67.1M | −$130.4M | −$77.4M | $3.2M | $3.9M |
| Invested capital | $1.50B | $1.19B | $907.4M | $734.4M | $226.7M | $139.5M | $110.3M |
| Tangible asset value | $874.7M | $739.3M | $648.9M | $221.5M | $183.9M | $46.6M | $50.9M |
| Net current asset value | −$1.75B | −$1.38B | −$882.8M | −$852.1M | −$278.7M | −$120.6M | −$53.4M |
| Graham number | $8.79 | $5.69 | $1.91 | — | — | $2.12 | $4.77 |
| Graham net-net per share | −$14.34 | −$12.35 | −$14.89 | −$17.07 | −$6.58 | −$2.91 | −$1.37 |
| Capital allocation | |||||||
| Dividends paid | — | — | $0 | $4.2M | $213.3M | $7.8M | $6.6M |
| Share buybacks (net) | — | $1.1M | $1.9M | $3.9M | $287.7M | $0 | $0 |
| Dividend payout ratio | — | — | 0.0% | — | — | 135.4% | 23.3% |
| Dividends + buybacks / free cash flow | — | 4.3% | — | — | — | 59.7% | 38.4% |
| Capex / revenue | 14.7% | 17.3% | 23.7% | 25.4% | 23.8% | 12.4% | 16.6% |
| Capex / operating cash flow | 81.6% | 90.0% | 163.3% | 313.7% | 147.4% | 75.8% | 69.6% |
| Capex / depreciation | 2.09 | 2.38 | 3.30 | 4.20 | 4.70 | 2.61 | 4.08 |
| Stock-based compensation / revenue | 1.1% | 0.9% | 4.1% | 5.6% | 31.7% | 10.7% | 2.8% |
| SG&A / revenue | 15.8% | 18.3% | 21.2% | 24.8% | 53.2% | 32.1% | 27.6% |
| Efficiency | |||||||
| Days sales outstanding | 3.2 | 2.8 | 4.0 | 5.6 | 7.9 | 9.7 | 10.1 |
| Days of inventory on hand | 12.8 | 16.2 | 22.0 | 20.5 | 20.6 | 22.9 | 28.0 |
| Days payables outstanding | 10.5 | 12.1 | 13.1 | 13.6 | 19.3 | 25.1 | 33.5 |
| Cash conversion cycle (days) | 5.6 | 6.9 | 12.9 | 12.4 | 9.1 | 7.4 | 4.7 |
| Receivables turnover | 113.03 | 129.91 | 91.59 | 65.37 | 46.36 | 37.51 | 36.01 |
| Payables turnover | 34.77 | 30.26 | 27.89 | 26.76 | 18.86 | 14.52 | 10.91 |
| Inventory turnover | 28.43 | 22.55 | 16.58 | 17.84 | 17.70 | 15.96 | 13.04 |
| Asset turnover | 0.59 | 0.60 | 0.65 | 0.85 | 1.22 | 1.53 | 1.42 |
| Average receivables | $14.5M | $9.9M | $10.5M | $11.3M | $10.7M | $8.7M | $6.6M |
| Average payables | $34.9M | $31.1M | $25.6M | $20.9M | $18.3M | $14.6M | $13.0M |
| Average inventory | $42.7M | $41.7M | $43.1M | $31.3M | $19.5M | $13.2M | $10.9M |
| Intangibles / total assets | 0.8% | 1.0% | 1.5% | 2.6% | 5.4% | 11.3% | 16.1% |
Computed from BROS's annual financial statements (latest annual report filed February 13, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
BROS valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Dutch Bros traded at 96.4 times earnings. Based on the latest twelve months, the trailing P/E is 57.2 and the forward P/E is 32.6. Dutch Bros earned a return on equity of 13.1% and a return on invested capital of 10.4% in fiscal 2025. It ended the year with $1.1 billion of debt and $269.4 million in cash and short-term investments, net debt of $819.6 million. The share count rose 169.0% from 46.7M to 125.8M over 6 years.
See the BROS income statement, the BROS chart for price history, or the BROS stock overview for the latest quote and news.
BROS key metrics FAQ
What is Dutch Bros's P/E ratio?
Dutch Bros's trailing P/E ratio is 57.2 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 32.6. At the end of fiscal 2025 it was 96.4.
What is Dutch Bros's EV/EBITDA?
Dutch Bros's enterprise value was 30.5 times EBITDA at the end of fiscal 2025 (enterprise value $8.5 billion, EBITDA $279.1 million); the current EV/EBITDA is 19.5.
What is Dutch Bros's return on equity?
Dutch Bros's return on equity (ROE) was 13.1% in fiscal 2025: net income of $79.8 million on average shareholders' equity of $609.1 million.
What is Dutch Bros's ROIC?
Dutch Bros's return on invested capital was 10.4% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Dutch Bros have?
Dutch Bros had total debt of $1.1 billion at the end of fiscal 2025, a debt-to-equity ratio of 1.60 and $819.6 million of net debt (2.94 times EBITDA).
What is Dutch Bros's free cash flow yield?
Dutch Bros generated $54.4 million of free cash flow in fiscal 2025, a free cash flow yield of 0.7% on its market value at year-end ($7.7 billion).
What is Dutch Bros's current ratio?
Dutch Bros's current ratio was 1.49 at the end of fiscal 2025: current assets were 1.49 times current liabilities.