Dutch Bros (BROS) FY2024 results: revenue $1.3 billion, up 32.6% on the year
Dutch Bros Inc. (BROS) reported revenue of $1.3 billion for fiscal 2024, the year ended 31 December 2024, up 32.6% on the year before. Net income was $35 million, up 1952.3%, and diluted earnings per share $0.34. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2025.
Revenue
$1.3 billion
+32.6% on the year
FY2019FY2024
Operating margin
8.3%
4.8% a year earlier
FY2019FY2024
Net income
$35 million
+1,952.3% on the year
FY2019FY2024
Diluted EPS
$0.34
+1,033.3% on the year
FY2019FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
246
140
59.9
+76.1%
Capital expenditure
222
228
188
-2.9%
Free cash flow
24.7
-88.5
-128
Free cash flow margin
1.9%
-9.2%
-17.3%
Cash from investing
-212
-227
-193
Cash from financing
125
201
134
-37.5%
Depreciation and amortisation
93.0
69.1
44.7
+34.5%
Share-based compensation
11.5
39.2
41.7
-70.7%
Diluted shares, weighted
104m
62m
52m
+67.7%
Shares outstanding at period end
154m
n/a
n/a
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
537
364
129
+47.5%
Non-controlling interest
226
312
123
-27.3%
Debt
238
99.1
210
+140.3%
Operating lease liabilities
309
191
161
+61.6%
Finance lease liabilities
369
368
237
+0.4%
Other liabilities
821
430
326
+90.9%
Total liabilities and equity
2,501
1,764
1,186
+41.8%
Fixed assets
684
542
365
+26.1%
Goodwill
21.6
21.6
21.6
0.0%
Intangible assets
2.9
5.4
8.8
-45.6%
Cash and equivalents
293
134
20.2
+119.7%
Receivables
10.6
9.1
12.0
+16.2%
Inventory
36.5
47.0
39.2
-22.3%
Other assets
1,452
1,005
719
+44.5%
Total assets
2,501
1,764
1,186
+41.8%
10-K for the year ended 31 December 2024, filed 13 February 2025: the filing.