Dutch Bros (BROS) Gross Margin (2020 - 2026)
Dutch Bros (BROS) posted Gross Margin of 23.14% for Q1 2026, down 4.17% on a QoQ basis from 24.15% in Q4 2025, and down 220.0% year-over-year from 19.29% in Q1 2025.
Dutch Bros (BROS) Gross Margin (2020 - 2026) Analysis & Trends
Dutch Bros' Gross Margin history runs 7 years deep, the most recent figure standing at 23.14% for Q1 2026.
- Quarterly Gross Margin fell 220.0% year-over-year to 23.14% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 25.26% (down 106.0% YoY) and the FY2025 annual result came in at 25.88%, down 67.0% from the prior year.
- Gross Margin was 23.14% for Q1 2026 at Dutch Bros, down from 24.15% in the prior quarter.
- Across five years, Gross Margin topped out at 28.87% in Q2 2025 and bottomed at 20.37% in Q1 2022.
- A 5-year average of 25.48% and a median of 25.45% in 2022 frame the typical range for Gross Margin.
- Annual changes were most pronounced in 2022 — Gross Margin slumped 1280 bps — and 2023, when it soared 436 bps.
- Dutch Bros' Gross Margin stood at 26.93% in 2022, then decreased by 14 bps to 23.27% in 2023, then rose by 10 bps to 25.66% in 2024, then decreased by 6 bps to 24.15% in 2025, then declined by 4 bps to 23.14% in 2026.
- Business Quant data shows BROS's Gross Margin at 23.14% in Q1 2026, 24.15% in Q4 2025, and 25.21% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Starbucks | 118.28 Bn | 116.58 Bn | 6.32 Bn | 66.34% |
| 2 | Yum Brands | 41.26 Bn | 40.58 Bn | 1.38 Bn | 67.12% |
| 3 | Chipotle Mexican Grill | 41.21 Bn | 40.34 Bn | 2.61 Bn | 84.44% |
| 4 | Restaurant Brands International | 25.26 Bn | 24.25 Bn | 2.14 Bn | 94.61% |
| 5 | Darden Restaurants | 22.64 Bn | 22.40 Bn | 3.31 Bn | 98.82% |
| 6 | Yum China Holdings | 15.35 Bn | 13.92 Bn | 2.31 Bn | 70.56% |
| 7 | Texas Roadhouse | 12.76 Bn | 12.54 Bn | 1.40 Bn | 86.00% |
| 8 | Dominos Pizza | 11.11 Bn | 10.98 Bn | 478.23 Mn | 40.04% |
| 9 | Dutch Bros | 8.18 Bn | 7.92 Bn | 107.48 Mn | 23.14% |
| 10 | Brinker International | 8.13 Bn | 8.07 Bn | 1.10 Bn | 74.62% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 23.14% |
| Dec 31, 2025 | 24.15% |
| Sep 30, 2025 | 25.21% |
| Jun 30, 2025 | 28.87% |
| Mar 31, 2025 | 25.34% |
| Dec 31, 2024 | 25.66% |
| Sep 30, 2024 | 26.63% |
| Jun 30, 2024 | 27.79% |
| Mar 31, 2024 | 26.09% |
| Dec 31, 2023 | 23.27% |
| Sep 30, 2023 | 28.42% |
| Jun 30, 2023 | 28.51% |
| Mar 31, 2023 | 23.19% |
| Dec 31, 2022 | 26.93% |
| Sep 30, 2022 | 25.45% |
| Jun 30, 2022 | 24.15% |
| Mar 31, 2022 | 20.37% |
| Dec 31, 2021 | 24.46% |
| Sep 30, 2021 | 30.06% |
| Jun 30, 2021 | 36.95% |