FoodBud
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RankingsInsightsMixue SeriesArchiveMethodologyDataSearch中文
FoodBud

Global foodservice chain intelligence. Every figure should link back to a source.

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Company card

Dutch Bros

Medium
Brand

NYSE BROS · US

Listing status
listed
Operating model
Mixed direct + franchise
Scale basis
GMV / system sales
Confidence
Medium
Segment
coffee

SEC first pass gives a useful denominator, but direct/franchise and system sales still need 10-K business-section parsing.

Scale basis note

Terminal transaction scale across the network. Useful for franchise reach, not the same as listed-company revenue.

Compare this operator
Every number has a source row

Metrics below keep source tier, quality, period, and source link visible at the metric level.

Source tiers
S1Official primary — filings, annual reports, prospectuses
S2Official secondary — IR decks, transcripts
S3Supplementary — vetted media, databases
S0Not usable — flagged, never published

Source tiers — S1 official primary · S2 official secondary · S3 supplementary · S0 not usable. Open “Provenance” on any number for its tier, basis, precision, and do-not-use note.

GMV is not revenue

GMV/system sales, revenue, and royalty pool sales are separate scale bases. Screening proxies are directional only.

MetricValuePeriod / basisQualitySource
Stores
Reported restaurant, coffee shop, tea shop, bakery, or comparable chain units.
1,136 stores
FY2025 (year ended Dec 31, 2025): As of December 31, 2025, we had 1,136 shops, of which 811 were company-operated and 325 were franchise, across 25 states
Source-backed
S2 official secondary (opens in new tab)
Press Or Ir · As of December 31, 2025, we had 1,136 shops, of which 811 were company-operated and 325 were franchise, across 25 states
Provenance
Tier: S2 official secondary
Source: Press Or Ir
Scale
Terminal transaction scale across the network. Useful for franchise reach, not the same as listed-company revenue.
$2.22B
FY2025 (year ended Dec 31, 2025): Systemwide sales $2,223,576
GMV / system salesTerminal transaction scale across the network. Useful for franchise reach, not the same as listed-company revenue.
Source-backed
S2 official secondary (opens in new tab)
Press Or Ir · Systemwide sales $2,223,576
Provenance
Tier: S2 official secondary
Source: Press Or Ir
Basis: GMV / system sales
Precision: Source-backed
Scale per store
Screening proxy: scale divided by store count. It is not audited AUV or unit profit.
$1.96M
Screening proxy
Derived scale_per_store using scale ÷ store_count at the linked scale basis; not a separately reported company metric.
GMV / system salesTerminal transaction scale across the network. Useful for franchise reach, not the same as listed-company revenue.
Source-backed
S1 official primary (opens in new tab)
Operator Metric Source · Source used for operator metric extraction.
Provenance
Tier: S1 official primary
Source: Operator Metric Source
Basis: GMV / system sales
Precision: Derived
Profit signal
Profit signal from the source period. Read with local accounting and segment mix in mind.
$79.84M
Directional proxy
A2 stale-FX: latest disclosed FY2025 (year ended Dec 31, 2025) USD 79842000 (tier S3, source_tier/type not S1/S2 company source (S3/media_or_aggre); stored USD kept — not refreshed (no S1/S2 same-basis FX-verifiable source). Pending company-source/Cowork upgrade.
Profit-positiveScale basis not specified. Use as a screening signal until a source pack is attached.
Directional proxy
S3 supplementary (opens in new tab)
Media Or Aggregator · Latest disclosed FY2025 (year ended Dec 31, 2025): net income of $79.84M for the fiscal year ending December 31, 2025 | stored scale/profit USD may reflect an earlier FY — value/FX refresh pending (separate A2 workstream).
Provenance
Tier: S3 supplementary
Source: Media Or Aggregator
Basis: Profit-positive
Revenue
Source-backed operating metric from the locked research snapshot.
$1.64B
USD 1.64B revenue (RevenueFromContractWithCustomerExcludingAssessedTax)
Revenue proxyRecognized company revenue. Useful for accounting scale, but not directly comparable with GMV/system sales.
Source-backed
S1 official primary (opens in new tab)
Operator Metric Source · Source used for operator metric extraction.
Provenance
Tier: S1 official primary
Source: Operator Metric Source
Basis: Revenue proxy
Precision: Source-backed

Market data (listed companies)

Market valuation · fluctuates · not operational scale · do not compare with GMV / system sales. Listed companies only.

MetricValuePeriod / basisQualitySource
Market cap
Public market capitalization captured in the locked source snapshot.
$9.02B
May 22, 2026: Dutch Bros (BROS) had a closing stock price of $52.12 on May 22, 2026
Market cap (USD)Scale basis not specified. Use as a screening signal until a source pack is attached.
Source-backed
S3 supplementary (opens in new tab)
Media Or Aggregator · Dutch Bros (BROS) had a closing stock price of $52.12 on May 22, 2026
Provenance
Tier: S3 supplementary
Source: Media Or Aggregator
Basis: Market cap (USD)
Precision: Market snapshot · not operational scale
⚠ Do not use for: Market valuation · not operational scale · never compare with GMV/system sales

Operator profile

12/19 source-backed

Classification, firmographics, ownership and operating dimensions — source-backed where disclosed, marked as a gap (never inferred) where not.

Format & positioning
Cuisine (primary)
coffee cafeS3 supplementary (opens in new tab)
Cuisine (secondary)
tea beverageS3 supplementary (opens in new tab)
Service model
coffee cafetier3_reference (opens in new tab)
Price tier
mid
Company
Founded
1,992secondary (opens in new tab)
HQ country
United Statessecondary (opens in new tab)
CEO
Christine Baronesecondary (opens in new tab)
Employees
32,000 headcountsecondary (opens in new tab)
Ownership
Parent
Independent / public-standalone (Dutch Bros Inc.; NYSE:BROS). A 'controlled company' — co-founder Travis Boersma holds ~73% voting power via multi-class stockencyclopedic/news (opens in new tab)
PE / holding
TSG Consumer Partners (PE) — minority investor since 2018 pre-IPO (~22% voting at 2021 IPO), steadily reduced via secondaries; Boersma family retains controlcompany/news (opens in new tab)
Recent M&A
not disclosed
Growth
Revenue YoY
27.9%S1 official primary (opens in new tab)
Net new units
154 unitsS1 official primary (opens in new tab)
Pricing & digital
Avg check
not disclosed
Digital sales
68%primary (opens in new tab)
Loyalty members
15,000,000secondary (opens in new tab)~
Franchise terms
Royalty
not disclosed
Franchise fee
not disclosed
By-market footprint
United States
1,136 storesS1 official primary (opens in new tab)

Store counts by market/region — footprint context, not a same-basis comparison.

Disclosed store model

disclosed7/7 source-backed

Company-operated vs franchised footprint, AUV and store-level economics — taken verbatim from each operator's own filing, never inferred. A separate axis from company scale and single-store economics.

Total stores
1,136 stores
1,136 shops at 2025-12-31: 811 company-operated and 325 franchise shops across 25 states.
Source-backedS1 official primary (opens in new tab)
Revenue
$1.6B
USD 1.64B revenue (RevenueFromContractWithCustomerExcludingAssessedTax)
Source-backedS1 official primary (opens in new tab)
Scale
$2.2B
USD 2.224B FY2025 systemwide sales; systemwide AUV USD 2.115M; company-operated shop AUV USD 2.061M; systemwide same shop sales +5.6%.
Source-backedS1 official primary (opens in new tab)
Company-operated
see brand drilldown
Franchised
see brand drilldown

Brand drilldown

non-additive

Per-brand detail — NOT additive (brands may use different bases / periods) and NOT counted in rankings. Listed for transparency only.

Dutch Bros
AUV — average unit volume
2,000,000 USD per shop year
2024_or_latest
Source-backedS2 official secondary (opens in new tab)
Company same-store sales
0.106 YOY growth 2024
2024_or_latest
Source-backedS2 official secondary (opens in new tab)
Store contribution margin
29.7%
2024_or_latest
Source-backedS2 official secondary (opens in new tab)
Operating margin
29.7%
FY2024
Source-backedS1 official primary (opens in new tab)

Single-store model

4/8 source-backed

Unit economics are a separate axis from company-level scale — never read as the same number. Each field keeps its source, period, and quality; derived/estimated rows and gaps are marked.

AUV / unit sales
Secondary relay (FDD/10-K/release); confirm vs primary.
System AUV $2.0m 2024 (record).
2024_or_latest
Source-backedS2 official secondary (opens in new tab)
Single-store profit
Secondary relay (FDD/10-K/release); confirm vs primary.
Company shop contribution margin 29.7% 2024 (+150bps).
2024_or_latest
Source-backedS2 official secondary (opens in new tab)
Initial investment
GAP — not fabricated.
—
GapSource (opens in new tab)
Franchise fee / royalty
GAP — not fabricated.
—
GapSource (opens in new tab)
Payback period
GAP — not fabricated.
—
GapSource (opens in new tab)
Same-store sales
Secondary relay (FDD/10-K/release); confirm vs primary.
Company-operated same-shop +10.6% FY2024.
2024_or_latest
Source-backedS2 official secondary (opens in new tab)
Store open / close
GAP — not fabricated.
—
GapSource (opens in new tab)
Company-operated share
Secondary relay (FDD/10-K/release); confirm vs primary.
Grows primarily company-owned (+ franchise tail).
2024_or_latest
EstimatedS2 official secondary (opens in new tab)

Cost structure

3/6 source-backed

Where each revenue dollar goes, latest disclosed year. Slices use each operator's reported base — % of revenue unless the row notes otherwise (% of GMV, restaurant-level, franchise goods-supply COGS). Grey = not separately disclosed. This is a separate axis from company scale and single-store economics.

Food / COGS25.5%
FY2024S2 official secondary (opens in new tab)Estimated
Base company shop revenue $1,165.8M. Bev/food/packaging 25.5/labor 27.1 (est from $). Shop contribution margin 29.7% (incl 130bps pre-opening). SG&A 18.3% of total rev.
Labor27.1%
FY2024S2 official secondary (opens in new tab)Estimated
Base company shop revenue $1,165.8M. Bev/food/packaging 25.5/labor 27.1 (est from $). Shop contribution margin 29.7% (incl 130bps pre-opening). SG&A 18.3% of total rev.
Rent / occupancy—
FY2024Gap
Base company shop revenue $1,165.8M. Bev/food/packaging 25.5/labor 27.1 (est from $). Shop contribution margin 29.7% (incl 130bps pre-opening). SG&A 18.3% of total rev.
Delivery commission—
FY2024Gap
Base company shop revenue $1,165.8M. Bev/food/packaging 25.5/labor 27.1 (est from $). Shop contribution margin 29.7% (incl 130bps pre-opening). SG&A 18.3% of total rev.
Marketing—
FY2024Gap
Base company shop revenue $1,165.8M. Bev/food/packaging 25.5/labor 27.1 (est from $). Shop contribution margin 29.7% (incl 130bps pre-opening). SG&A 18.3% of total rev.
Operating margin29.7%
FY2024· restaurant_level (shop contribution, non-GAAP)S1 official primary (opens in new tab)Source-backed
Base company shop revenue $1,165.8M. Bev/food/packaging 25.5/labor 27.1 (est from $). Shop contribution margin 29.7% (incl 130bps pre-opening). SG&A 18.3% of total rev.
Not separately disclosed17.7%

Supply chain

1 suppliers · 0 with S1 filing

Who supplies this brand — reverse-extracted from each supplier's own filing (top-customer / related-party disclosure). The % is the supplier's revenue share from this brand (supplier-side, not procurement spend), unless a note says otherwise. Each edge keeps its period, source tier, and audit link; named relationships without a disclosed % are shown as such.

Trilliant Food & Nutrition, LLC
Other
discloses as: Dutch Bros
—named (no % disclosed)S3 newssource (opens in new tab)

Peers in this segment

StarbucksRevenue proxyTH InternationalRevenue proxy

Same segment — each operator keeps its own scale basis; this is navigation, not a like-for-like comparison.