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Dutch Bros vs Wendy's: revenue, profit, margins and growth compared

Dutch Bros brought in $1.6B of revenue in fiscal 2025, Wendy's $2.2B in fiscal 2025. Revenue changed by +27.9% at Dutch Bros and -3.1% at Wendy's on the year before, so Dutch Bros grew faster. Dutch Bros kept 4.9% of its revenue as net profit, Wendy's 7.6%. Free cash flow was $54.4M at Dutch Bros and $242.6M at Wendy's.

Side by side, latest fiscal year

BROSWEN
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 28, 2025)
Revenue$1.6B$2.2B
Revenue growth+27.9%-3.1%
Net income$79.8M$165.1M
Net margin4.9%7.6%
Free cash flow$54.4M$242.6M
Free cash flow margin3.3%11.1%
Earnings per share (diluted)$0.64$0.85
Cash$269.4M$300.8M
Debt$202.5M$2.8B
Price to earnings59.27.7
Market value$6.6B$1.2B
Dividend yieldn/a10.23%
Rank by revenue in sector#386 of 778 · Consumer discretionary#340 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: $1.6BWEN FY2018: $1.6BWEN FY2019: $1.7BWEN FY2020: $1.7BWEN FY2021: $1.9BWEN FY2022: $2.1BWEN FY2023: $2.2BWEN FY2024: $2.2BWEN FY2025: $2.2BFY18FY19FY20FY21FY22FY23FY24FY25
BROS $1.6BWEN $2.2B
Net income
BROS FY2019: $0BROS FY2021: $0BROS FY2021: -$12.7MBROS FY2022: -$4.8MBROS FY2023: $1.7MBROS FY2024: $35.3MBROS FY2025: $79.8MWEN FY2018: $460.1MWEN FY2019: $136.9MWEN FY2020: $117.8MWEN FY2021: $200.4MWEN FY2022: $177.4MWEN FY2023: $204.4MWEN FY2024: $194.4MWEN FY2025: $165.1MFY18FY19FY20FY21FY22FY23FY24FY25
BROS $79.8MWEN $165.1M
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%WEN FY2018: 28.9%WEN FY2019: 8.0%WEN FY2020: 6.8%WEN FY2021: 10.6%WEN FY2022: 8.5%WEN FY2023: 9.4%WEN FY2024: 8.7%WEN FY2025: 7.6%FY18FY19FY20FY21FY22FY23FY24FY25
BROS 4.9%WEN 7.6%
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%WEN FY2019: +7.5%WEN FY2020: +1.5%WEN FY2021: +9.4%WEN FY2022: +10.5%WEN FY2023: +4.1%WEN FY2024: +3.0%WEN FY2025: -3.1%FY19FY20FY21FY22FY23FY24FY25
BROS +27.9%WEN -3.1%
Free cash flow
BROS FY2019: $17.2MBROS FY2021: $13MBROS FY2021: -$38.1MBROS FY2022: -$128MBROS FY2023: -$88.5MBROS FY2024: $24.7MBROS FY2025: $54.4MWEN FY2018: $154.4MWEN FY2019: $214.5MWEN FY2020: $215.4MWEN FY2021: $267.8MWEN FY2022: $174.4MWEN FY2023: $260.4MWEN FY2024: $260.9MWEN FY2025: $242.6MFY18FY19FY20FY21FY22FY23FY24FY25
BROS $54.4MWEN $242.6M

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

Questions about Dutch Bros and Wendy's

Which is bigger by revenue, Dutch Bros or Wendy's?

Wendy's is bigger by revenue: $2.2B in fiscal 2025, against $1.6B for Dutch Bros in fiscal 2025.

Which keeps more of its revenue as profit, Dutch Bros or Wendy's?

Dutch Bros had a net margin of 4.9% in fiscal 2025; Wendy's had 7.6% in fiscal 2025.

Which grew revenue faster, Dutch Bros or Wendy's?

In their latest fiscal years revenue changed by +27.9% at Dutch Bros and -3.1% at Wendy's.

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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