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Dutch Bros vs Chagee: revenue, profit, margins and growth compared

Dutch Bros brought in $1.6B of revenue in fiscal 2025, Chagee $1.8B in fiscal 2025. Dutch Bros kept 4.9% of its revenue as net profit, Chagee 9.1%. Free cash flow was $54.4M at Dutch Bros and $175.5M at Chagee.

Side by side, latest fiscal year

BROSCHA
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$1.6B$1.8B
Revenue growth+27.9%n/a
Net income$79.8M$167.5M
Net margin4.9%9.1%
Free cash flow$54.4M$175.5M
Free cash flow margin3.3%9.5%
Earnings per share (diluted)$0.64$0.88
Cash$269.4M$1.1B
Debt$202.5Mn/a
Price to earnings59.2n/a
Market value$6.6B$2.2B
Dividend yieldn/an/a
Rank by revenue in sector#386 of 778 · Consumer discretionary#368 of 778 · Consumer discretionary

Over the years

Revenue
BROS FY2019: $238.4MBROS FY2021: $327.4MBROS FY2021: $497.9MBROS FY2022: $739MBROS FY2023: $965.8MBROS FY2024: $1.3BBROS FY2025: $1.6BCHA FY2025: $1.8BFY19FY21FY22FY23FY24FY25
BROS $1.6BCHA $1.8B
Net income
BROS FY2019: $0BROS FY2021: $0BROS FY2021: -$12.7MBROS FY2022: -$4.8MBROS FY2023: $1.7MBROS FY2024: $35.3MBROS FY2025: $79.8MCHA FY2025: $167.5MFY19FY21FY22FY23FY24FY25
BROS $79.8MCHA $167.5M
Net margin
BROS FY2019: 0.0%BROS FY2021: 0.0%BROS FY2021: -2.5%BROS FY2022: -0.6%BROS FY2023: 0.2%BROS FY2024: 2.8%BROS FY2025: 4.9%CHA FY2025: 9.1%FY19FY21FY22FY23FY24FY25
BROS 4.9%CHA 9.1%
Revenue growth
BROS FY2021: +37.4%BROS FY2021: +52.1%BROS FY2022: +48.4%BROS FY2023: +30.7%BROS FY2024: +32.6%BROS FY2025: +27.9%FY21FY22FY23FY24FY25
BROS +27.9%CHA
Free cash flow
BROS FY2019: $17.2MBROS FY2021: $13MBROS FY2021: -$38.1MBROS FY2022: -$128MBROS FY2023: -$88.5MBROS FY2024: $24.7MBROS FY2025: $54.4MCHA FY2025: $175.5MFY19FY21FY22FY23FY24FY25
BROS $54.4MCHA $175.5M

Fiscal years as each company reports them; the two may end in different months.

Questions about Dutch Bros and Chagee

Which is bigger by revenue, Dutch Bros or Chagee?

Chagee is bigger by revenue: $1.8B in fiscal 2025, against $1.6B for Dutch Bros in fiscal 2025.

Which keeps more of its revenue as profit, Dutch Bros or Chagee?

Dutch Bros had a net margin of 4.9% in fiscal 2025; Chagee had 9.1% in fiscal 2025.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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