Dutch Bros Inc.

NYSE:BROS Stock Report

Market Cap: US$9.1b

Dutch Bros Valuation

Is BROS undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of BROS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BROS ($52.32) is trading above our estimate of fair value ($0.83)

Significantly Below Fair Value: BROS is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BROS?

Key metric: As BROS is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for BROS. This is calculated by dividing BROS's market cap by their current revenue.
What is BROS's PS Ratio?
PS Ratio5x
SalesUS$1.19b
Market CapUS$9.08b

Price to Sales Ratio vs Peers

How does BROS's PS Ratio compare to its peers?

The above table shows the PS ratio for BROS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average8x
WING Wingstop
14.4x16.6%US$8.2b
ARMK Aramark
0.6x5.8%US$9.9b
CAVA CAVA Group
14.7x18.6%US$13.4b
TXRH Texas Roadhouse
2.4x9.3%US$11.9b
BROS Dutch Bros
5x17.2%US$9.1b

Price-To-Sales vs Peers: BROS is good value based on its Price-To-Sales Ratio (5x) compared to the peer average (8x).

Price to Sales Ratio vs Industry

How does BROS's PS Ratio compare vs other companies in the US Hospitality Industry?

32 CompaniesPrice / SalesEstimated GrowthMarket Cap
BLMN Bloomin' Brands
0.2x-2.3%US$1.02b
BALY Bally's
0.3x2.2%US$721.02m
TAST Carrols Restaurant Group
0.3x2.9%US$478.64m
GENK GEN Restaurant Group
0.2x18.5%US$236.49m
BROS 5.0xIndustry Avg. 1.6xNo. of Companies32PS01.22.43.64.86+
32 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: BROS is expensive based on its Price-To-Sales Ratio (5x) compared to the US Hospitality industry average (1.6x).

Price to Sales Ratio vs Fair Ratio

What is BROS's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BROS PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio5x
Fair PS Ratio2.3x

Price-To-Sales vs Fair Ratio: BROS is expensive based on its Price-To-Sales Ratio (5x) compared to the estimated Fair Price-To-Sales Ratio (2.3x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst BROS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$52.32
US$53.50
+2.3%
13.9%US$65.00US$38.00n/a12
Dec ’25US$53.73
US$50.42
-6.2%
12.2%US$61.00US$38.00n/a12
Nov ’25US$33.40
US$40.42
+21.0%
12.9%US$49.00US$31.00n/a12
Oct ’25US$32.16
US$40.42
+25.7%
12.9%US$49.00US$31.00n/a12
Sep ’25US$31.00
US$40.42
+30.4%
12.9%US$49.00US$31.00n/a12
Aug ’25US$37.99
US$41.50
+9.2%
12.3%US$50.00US$34.00n/a12
Jul ’25US$41.85
US$39.58
-5.4%
15.5%US$50.00US$30.00n/a12
Jun ’25US$35.39
US$38.50
+8.8%
12.5%US$46.00US$30.00n/a12
May ’25US$27.00
US$35.55
+31.7%
11.6%US$44.00US$30.00n/a13
Apr ’25US$32.94
US$35.85
+8.8%
13.4%US$48.00US$30.00n/a13
Mar ’25US$29.67
US$34.75
+17.1%
14.0%US$48.00US$30.00n/a12
Feb ’25US$27.15
US$34.25
+26.2%
13.8%US$48.00US$29.00n/a12
Jan ’25US$31.67
US$33.50
+5.8%
15.2%US$48.00US$28.00n/a12
Dec ’24US$28.30
US$33.25
+17.5%
15.2%US$48.00US$28.00US$53.7312
Nov ’24US$23.95
US$32.83
+37.1%
17.1%US$48.00US$26.00US$33.4012
Oct ’24US$23.25
US$34.58
+48.7%
14.9%US$48.00US$28.00US$32.1612
Sep ’24US$28.74
US$36.00
+25.3%
16.9%US$53.00US$30.00US$31.0011
Aug ’24US$30.81
US$36.27
+17.7%
18.0%US$53.00US$30.00US$37.9911
Jul ’24US$28.45
US$36.27
+27.5%
18.0%US$53.00US$30.00US$41.8511
Jun ’24US$28.16
US$36.90
+31.0%
17.7%US$53.00US$30.00US$35.3910
May ’24US$30.93
US$38.80
+25.4%
14.7%US$53.00US$32.00US$27.0010
Apr ’24US$31.63
US$38.90
+23.0%
14.6%US$53.00US$32.00US$32.9410
Mar ’24US$31.99
US$39.70
+24.1%
13.6%US$53.00US$34.00US$29.6710
Feb ’24US$38.52
US$40.33
+4.7%
15.0%US$53.00US$31.00US$27.159
Jan ’24US$28.19
US$40.63
+44.1%
16.0%US$53.00US$30.00US$31.678
Dec ’23US$38.15
US$39.67
+4.0%
16.9%US$53.00US$30.00US$28.309

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/19 06:17
End of Day Share Price 2024/12/19 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Dutch Bros Inc. is covered by 16 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
David TarantinoBaird
Ishan MajumdarBaptista Research
Jeffrey BernsteinBarclays