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

Dutch Bros brought in $1.6B of revenue in fiscal 2025, Starbucks $37.2B in fiscal 2025. Revenue changed by +27.9% at Dutch Bros and +2.8% at Starbucks on the year before, so Dutch Bros grew faster. Dutch Bros kept 4.9% of its revenue as net profit, Starbucks 5.0%. Free cash flow was $54.4M at Dutch Bros and $2.4B at Starbucks.

Side by side, latest fiscal year

BROSSBUX
Fiscal year endedFY2025 (December 31, 2025)FY2025 (September 28, 2025)
Revenue$1.6B$37.2B
Revenue growth+27.9%+2.8%
Net income$79.8M$1.9B
Net margin4.9%5.0%
Free cash flow$54.4M$2.4B
Free cash flow margin3.3%6.6%
Earnings per share (diluted)$0.64$1.63
Cash$269.4M$3.2B
Debt$202.5M$16.1B
Price to earnings59.258.2
Market value$6.6B$108.1B
Dividend yieldn/a2.58%
Rank by revenue in sector#386 of 778 · Consumer discretionary#27 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: $1.6BSBUX FY2018: $24.7BSBUX FY2019: $26.5BSBUX FY2020: $23.5BSBUX FY2021: $29.1BSBUX FY2022: $32.3BSBUX FY2023: $36BSBUX FY2024: $36.2BSBUX FY2025: $37.2BFY18FY19FY20FY21FY22FY23FY24FY25
BROS $1.6BSBUX $37.2B
Net income
BROS FY2019: $0BROS FY2021: $0BROS FY2021: -$12.7MBROS FY2022: -$4.8MBROS FY2023: $1.7MBROS FY2024: $35.3MBROS FY2025: $79.8MSBUX FY2018: $4.5BSBUX FY2019: $3.6BSBUX FY2020: $928.3MSBUX FY2021: $4.2BSBUX FY2022: $3.3BSBUX FY2023: $4.1BSBUX FY2024: $3.8BSBUX FY2025: $1.9BFY18FY19FY20FY21FY22FY23FY24FY25
BROS $79.8MSBUX $1.9B
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%SBUX FY2018: 18.3%SBUX FY2019: 13.6%SBUX FY2020: 3.9%SBUX FY2021: 14.5%SBUX FY2022: 10.2%SBUX FY2023: 11.5%SBUX FY2024: 10.4%SBUX FY2025: 5.0%FY18FY19FY20FY21FY22FY23FY24FY25
BROS 4.9%SBUX 5.0%
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%SBUX FY2019: +7.2%SBUX FY2020: -11.3%SBUX FY2021: +23.6%SBUX FY2022: +11.0%SBUX FY2023: +11.6%SBUX FY2024: +0.6%SBUX FY2025: +2.8%FY19FY20FY21FY22FY23FY24FY25
BROS +27.9%SBUX +2.8%
Free cash flow
BROS FY2019: $17.2MBROS FY2021: $13MBROS FY2021: -$38.1MBROS FY2022: -$128MBROS FY2023: -$88.5MBROS FY2024: $24.7MBROS FY2025: $54.4MSBUX FY2018: $10BSBUX FY2019: $3.2BSBUX FY2020: $114.2MSBUX FY2021: $4.5BSBUX FY2022: $2.6BSBUX FY2023: $3.7BSBUX FY2024: $3.3BSBUX FY2025: $2.4BFY18FY19FY20FY21FY22FY23FY24FY25
BROS $54.4MSBUX $2.4B

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

Questions about Dutch Bros and Starbucks

Which is bigger by revenue, Dutch Bros or Starbucks?

Starbucks is bigger by revenue: $37.2B in fiscal 2025, against $1.6B for Dutch Bros in fiscal 2025.

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

Dutch Bros had a net margin of 4.9% in fiscal 2025; Starbucks had 5.0% in fiscal 2025.

Which grew revenue faster, Dutch Bros or Starbucks?

In their latest fiscal years revenue changed by +27.9% at Dutch Bros and +2.8% at Starbucks.

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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