Dutch Bros vs Wendy's
Wendy's is the larger business, with $2.18bn of revenue in fiscal 2025 against $1.64bn for Dutch Bros (1.3 times as much). Dutch Bros grew faster (27.9% against -3.1%). Wendy's kept more of each dollar of sales as profit: a net margin of 7.6% against 4.9%. Dutch Bros carries less debt relative to equity (30.3% against 2376.1%).
| Latest fiscal year | Dutch BrosBROS, 2025 | Wendy'sWEN, 2025 |
|---|---|---|
| Revenue | $1.64bn | $2.18bn |
| Revenue growth | 27.9% | -3.1% |
| Net income | $79.8m | $165m |
| Operating margin | 9.8% | 15.8% |
| Net margin | 4.9% | 7.6% |
| Return on equity | 13.1% | 87.6% |
| Free cash flow | $54.4m | $243m |
| Cash | $269m | $301m |
| Total debt | $206m | $2.79bn |
| Debt to equity | 30.3% | 2376.1% |
| Dividend per share | — | $0.67 |
| Dividend yield | — | 7.7% |
| Share buybacks | — | $201m |
| Employees | — | — |
| Market value | $5.86bn | $1.38bn |
| Price vs our value range | Above our value range | Below our value range |
| Moat score | 19 (Weak) | 73 (Strong) |
| Insider trades, 12 months | 2 buys, 81 sales | 2 buys, 0 sales |