Dutch Bros (BROS) Operating Margin (2020 - 2026)
Dutch Bros (BROS) recorded Operating Margin of 12.78% in Q2 2026, down 0.36 percentage points from 13.15% a year earlier but up 5.40 percentage points from the prior quarter.
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Analysis
Dutch Bros (BROS) Operating Margin (2020 - 2026) Analysis & Trends
On a TTM basis, Dutch Bros' Operating Margin came in at 9.57% as of Jun 30, 2026, up 0.34 percentage points year-over-year; for FY2025, it was 9.84%, up 1.56 percentage points from FY2024.
- Annual Operating Margin has increased for four straight years, with a five-year change of +6.48 percentage points (FY2020 to FY2025).
- Across earlier years, Operating Margin came in at 8.28% in FY2024 (+3.50 pp), 4.79% in FY2023 (+5.14 pp), -0.35% in FY2022 (+21.99 pp) and -22.34% in FY2021 (-25.70 pp).
- Quarterly Operating Margin has ranged from -88.35% in Q3 2021 to 13.15% in Q2 2025 over the past five years.
- On a year-over-year basis, Operating Margin rose in five of the last eight quarters, with an average year-over-year change of +1.03 percentage points.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 90.95 percentage points in Q3 2022, against a drop of 97.53 percentage points in Q3 2021 at the low end.
- Per Business Quant, the preceding three quarters came in at 7.39% (Q1 2026), 7.66% (Q4 2025) and 9.79% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Mcdonalds | 171.96 Bn | 166.78 Bn | 6.42 Bn | 47.02% |
| 2 | Starbucks | 110.34 Bn | 97.96 Bn | - | 10.52% |
| 3 | Yum Brands | 41.48 Bn | 38.36 Bn | 1.47 Bn | 30.20% |
| 4 | Chipotle Mexican Grill | 39.00 Bn | 34.98 Bn | - | 15.70% |
| 5 | Restaurant Brands International | 25.80 Bn | 21.35 Bn | 1.38 Bn | 28.41% |
| 6 | Darden Restaurants | 24.38 Bn | 23.48 Bn | 1.68 Bn | 9.98% |
| 7 | Restaurant Brands International Limited Partnership | 17.01 Bn | 12.57 Bn | 1.38 Bn | 28.41% |
| 8 | Yum China Holdings | 15.57 Bn | 9.23 Bn | 537.00 Mn | 11.09% |
| 9 | Texas Roadhouse | 11.21 Bn | 10.55 Bn | - | 8.50% |
| 10 | Dutch Bros | 5.53 Bn | 4.46 Bn | 151.06 Mn | 12.78% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 12.78% |
| Mar 31, 2026 | 7.39% |
| Dec 31, 2025 | 7.66% |
| Sep 30, 2025 | 9.79% |
| Jun 30, 2025 | 13.15% |
| Mar 31, 2025 | 8.75% |
| Dec 31, 2024 | 4.60% |
| Sep 30, 2024 | 9.61% |
| Jun 30, 2024 | 9.91% |
| Mar 31, 2024 | 9.30% |
| Dec 31, 2023 | 0.86% |
| Sep 30, 2023 | 9.34% |
| Jun 30, 2023 | 7.84% |
| Mar 31, 2023 | -0.12% |
| Dec 31, 2022 | 1.87% |
| Sep 30, 2022 | 2.61% |
| Jun 30, 2022 | 1.43% |
| Mar 31, 2022 | -9.35% |
| Dec 31, 2021 | -5.06% |
| Sep 30, 2021 | -88.35% |
API Access
Dutch Bros Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=BROS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "BROS", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=BROS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();