Dutch Bros (BROS) FY2023 results: revenue $966 million, up 30.7% on the year
Dutch Bros Inc. (BROS) reported revenue of $966 million for fiscal 2023, the year ended 31 December 2023, up 30.7% on the year before. Net income was $2 million, and diluted earnings per share $0.03. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2024.
Revenue
$966 million
+30.7% on the year
FY2019FY2023
Operating margin
4.8%
-0.4% a year earlier
FY2019FY2023
Net income
$2 million
FY2019FY2023
Diluted EPS
$0.03
FY2019FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
140
59.9
80.4
+133.6%
Capital expenditure
228
188
118
+21.6%
Free cash flow
-88.5
-128
-38.1
Free cash flow margin
-9.2%
-17.3%
-7.6%
Cash from investing
-227
-193
-121
Cash from financing
201
134
27.6
+49.4%
Depreciation and amortisation
69.1
44.7
25.2
+54.6%
Share-based compensation
39.2
41.7
158
-5.8%
Diluted shares, weighted
62m
52m
46m
+19.7%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
364
129
94.5
+182.2%
Non-controlling interest
312
123
119
+153.6%
Redeemable equity
n/a
n/a
0.0
Debt
99.1
210
67.7
-52.8%
Operating lease liabilities
191
161
0.0
+18.7%
Finance lease liabilities
368
237
n/a
+55.1%
Other liabilities
430
326
272
+31.7%
Total liabilities and equity
1,764
1,186
554
+48.7%
Fixed assets
542
365
302
+48.4%
Goodwill
21.6
21.6
18.7
0.0%
Intangible assets
5.4
8.8
11.1
-38.5%
Cash and equivalents
134
20.2
18.5
+561.8%
Receivables
9.1
12.0
10.6
-23.8%
Inventory
47.0
39.2
23.3
+19.7%
Other assets
1,005
719
169
+39.7%
Total assets
1,764
1,186
554
+48.7%
10-K for the year ended 31 December 2023, filed 23 February 2024: the filing.