Dutch Bros Inc (BROS) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Dutch Bros Inc stock $12.32, price $34.57, that is 64.4% below the price, quality 35 out of 100. Rating: strongly overvalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
Keep an eye on it?Free in your watchlist: 5 stocks without an account, 10 with oneYes, for free
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range $22.81 – $85.37 · fair‑value band $6.18 – $15.92 · the $34.57 price screens above the $12.32 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
Follow Dutch Bros in your weekly email
Every Wednesday you see whether Dutch Bros is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Dutch Bros Inc., together with its subsidiaries, operates and franchises drive-thru shops in the United States. The company sells and distributes coffee, coffee-related products, and accessories. It operates through Company-Operated Shops and Franchising and Other segments.
Show moreShow less
The company sells its products under various brands such as Dutch Bros, Dutch Bros Coffee, Dutch Bros Rebel, Dutch Bros, and Blue Rebel. Dutch Bros Inc. was founded in 1992 and is based in Tempe, Arizona.
Stock analysis
Dutch Bros Inc (BROS) currently trades at $34.57, while our model-based Fair Value estimate is $12.32, 64% below the price, so the stock looks overvalued today.
Show more
Valuation
Bull case: the Growth Earnings group reads highest at a median of $26.45 per share, and 0 of the 24 models we run sit above the $34.57 price.
Bear case: the Asset-Based group reads lowest at $3.19, and 24 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $6.18 (bear) to $15.92 (bull), the price of $34.57 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 35/100 (below-average quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Dutch Bros Inc reported revenue of $1.6B in FY2025 versus $498M in FY2021, a compound +34.7%/yr. Reported net income was $79.8M in FY2025.
Key figures
Market cap $6.1B Mid · P/E ratio 44.9 · P/S ratio 2.37 · EPS (TTM) $0.7700 · Net margin 4.9% · Return on equity 14.6% · Return on assets (EBIT) −1.6% · Operating margin 12.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 44 out of 100 (low confidence).
What moves the price
The share trades about 53% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −31% fair-value upside, at −64%, BROS screens richer than that median.
Fair Value models
Bear$6.18Fair Value $12.32Bull$15.92
Price $34.57 · Downside -64.4%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($0.6540 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, one officer or director bought shares worth $205,480, on Aug 13, 2026. Over the same period, 2 people sold shares worth $314.3M.
SaleDM Trust Aggregator, LLC10% owner8× since Nov 24, 2025: 5,446,346 shares, avg. $52.75$287.3MNov 4, 202610b5-1 plan
SaleDM Individual Aggregator, LLC10% owner8× since Nov 24, 2025: 3,053,651 shares, avg. $52.84$161.4MNov 4, 202610b5-1 plan
SaleTravis BoersmaExecutive Chairman of Board, Director, 10% owner8× since Nov 24, 2025: 8,499,997 shares, avg. $52.78$448.7MNov 4, 202610b5-1 plan
BuyTodd Allan PenegorDirector2× since May 15, 2026: 4,000 shares, avg. $51.37$205,480Aug 13, 2026
SaleChristine BaroneCEO and President, Director42,031 shares at $60.13$2.5MJun 10, 202610b5-1 plan
Plus 16 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+27.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+30.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+38.0%
Start year 2020 (pandemic)
Revenue growth 6 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+37.9%
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+69.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+69.5%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.3% → 10%
2025 sits 279% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+44.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+22.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +41.2% a year for the price and +19.5% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (99 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: The business shows potential for faster expansion through conversion of acquired sites but faces a limited durable moat in a highly competitive restaurant sector.
Main risk: The added capital spending and operational demands from converting acquired sites could outpace the benefits of faster scale and pressure margins.
Dutch Bros is converting dozens of acquired drive-thru sites from a failed competitor to accelerate its rollout of company-owned stores. This shift boosts near-term revenue growth but also lifts capital spending and operational demands. Will tighter control over locations strengthen margins over time, or will the added costs outpace the benefits of faster scale?
Price, fair value, quality and upside side by side.
Free, no sign-up
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Restaurants · 202 stocks
Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score35 · Bottom 25%
Fair Value upside−64.4% · Bottom 25%
Profitability
Return on equity (12 months)14.6% · Above median
Return on assets3.9% · Above median
Net margin (12 months)7.2% · Top 25%
Operating margin (12 months)12.9% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)32.5% · Top 25%
Balance sheet
Debt / equity0.29× · Above median
Valuation Multiplesvs Restaurants median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Dutch Bros Inc (BROS) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of $12.32 versus a price of $34.57, about 64% lower (overvalued).
What is the fair value of BROS?
Our model-based fair value for Dutch Bros Inc is $12.32 (as of Nov 6, 2026), built from audited fundamentals. The current price: $34.57.
What is the quality score of BROS?
Dutch Bros Inc has a Quality Score of 35/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Dutch Bros Inc (BROS)?
Our model-based price target is the fair value of $12.32 (as of Nov 6, 2026) from 24 valuation models. Cautious scenario $6.18, optimistic scenario $15.92. It is a calculation from audited fundamentals, not an analyst target.
What is the Dutch Bros Inc stock forecast for 2026?
Our models put fair value at $12.32, about 64% lower versus a price of $34.57 (overvalued). Cautious scenario $6.18, optimistic scenario $15.92. The calculation is refreshed regularly with new filings.
What is the revenue of Dutch Bros Inc (BROS)?
Dutch Bros Inc reported trailing-twelve-month revenue of about $1.9B (latest available figure, as of Nov 6, 2026).
What growth is priced into Dutch Bros Inc (BROS)?
For today's price to be fair in a discounted-cash-flow model, Dutch Bros Inc would have to grow free cash flow by +44.6 % per year for five years (discount rate 12.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +38.0 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of BROS use?
Our models discount Dutch Bros Inc at 12.0 %: a base by market capitalisation (mid), damped by beta 1.93, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Dutch Bros Inc that is +44.6 % per year a year over ten years, using the same discount rate (12.0 %) and the same formula as our fair value.
How much growth has Dutch Bros Inc (BROS) delivered so far?
Over the past 5 years revenue at Dutch Bros Inc grew +38.0 % a year. The price currently implies +44.6 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Dutch Bros Inc (BROS) growing?
The median revenue growth in the sector is +4.6 % a year. That is the yardstick for the growth priced into Dutch Bros Inc (+44.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Dutch Bros Inc (BROS)?
The free-cash-flow yield on the price is 1.17 %: that much free cash flow Dutch Bros Inc produces per unit of market value. When it exceeds the discount rate of our models (12.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Dutch Bros Inc (BROS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Dutch Bros Inc it is $12.32 per share (as of Nov 6, 2026), against a price of $34.57. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Dutch Bros Inc stock overvalued or undervalued in 2026?
As of Nov 6, 2026, BROS trades above its calculated fair value: price $34.57, fair value $12.32, a gap of about −64% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of BROS?
No. The price is what the market pays today ($34.57); the fair value is what the company's own numbers justify ($12.32). For Dutch Bros Inc the two are $22.25 per share apart. That gap is exactly why we show both numbers side by side.
How much is Dutch Bros Inc worth?
The market values Dutch Bros Inc at about $6.1B (market capitalisation, as of Nov 6, 2026). Per share that is $34.57; our models calculate a fair value of $12.32 per share.
What do the bullish and bearish scenarios say about BROS?
Our models span a range for Dutch Bros Inc: cautious scenario $6.18, base $12.32, optimistic $15.92 per share (as of Nov 6, 2026, price $34.57). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BROS?
Dutch Bros Inc trades at a price-to-earnings ratio of 44.9 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $12.32 is built from several models across several years. Other multiples: PEG 1.4, P/B 8.9, P/S 4.7, EV/EBITDA 27.3.
What is the PEG ratio of BROS?
The PEG ratio of Dutch Bros Inc is 1.40 (P/E divided by earnings growth, as of Nov 6, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Dutch Bros Inc (BROS)?
Balance-sheet figures for Dutch Bros Inc (as of Nov 6, 2026): return on equity 14.6%, debt of 0.29 per unit of equity. They feed the Quality Score of 35/100, which measures business quality independently of the share price.
How far is BROS from its 52-week high?
Dutch Bros Inc trades at $34.57, about 53% below its 52-week high of $73.31 and at the low of $34.57 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of $12.32 is for.
Which stocks are comparable to Dutch Bros Inc?
From the same area (Consumer Cyclical) we also value McDonald's Corporation, Starbucks Corporation, Yum! Brands, Inc, Chipotle Mexican Grill, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Dutch Bros Inc stock attractive at the current price?
The data as of Nov 6, 2026: price $34.57, calculated fair value $12.32 (−64%), Quality Score 35/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of BROS calculated?
We run Dutch Bros Inc through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $12.32, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. Dutch Bros Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Dutch Bros Inc (BROS)?
The closing price on Nov 5, 2026 was $34.57. Our model-based fair value is $12.32, about 64% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Dutch Bros Inc right now?
The price sits above even our optimistic bull case ($15.92). The favourable scenario is already priced in. Weak quality (35/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range ($6.18 to $15.92) leaves room in how you read the outcome.
Key figures of Dutch Bros Inc
How large is the market capitalisation of Dutch Bros Inc (BROS)?
The market capitalisation of Dutch Bros Inc is $6.1B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Dutch Bros Inc (BROS)?
The price-to-sales ratio of Dutch Bros Inc is 2.37 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Dutch Bros Inc (BROS)?
Earnings per share at Dutch Bros Inc are $0.7700 (price ÷ EPS = P/E 44.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Dutch Bros Inc (BROS)?
The net margin of Dutch Bros Inc is 4.9% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Dutch Bros Inc (BROS)?
The return on equity (ROE) of Dutch Bros Inc is 14.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Dutch Bros Inc (BROS)?
On an EBIT basis the return on assets of Dutch Bros Inc is −1.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Dutch Bros Inc (BROS)?
The operating margin of Dutch Bros Inc is 12.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Dutch Bros Inc (BROS)?
Revenue at Dutch Bros Inc is growing +32.5% versus a year earlier (3y avg +30.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Dutch Bros Inc (BROS)?
Earnings per share at Dutch Bros Inc are growing +37.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Dutch Bros Inc (BROS) carry?
The net debt of Dutch Bros Inc is $820M (fiscal year 2025, ≈ 15.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch Dutch Bros Inc in the live analysis
One click puts Dutch Bros Inc on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.
Some data
Nov 6, 2026