Dutch Bros Inc. cash flow statement

In fiscal 2025, Dutch Bros Inc.'s operations generated $296m of cash; it spent $241m on capital projects, leaving free cash flow of $54.4m.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Dutch Bros Inc.: cash flow statement, annual
Fiscal year	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash from operations	57	54	80	60	140	246	296	366
Depreciation and amortisation	10	16	25	45	69	93	115	120
Stock-based pay	7	35	158	42	39	11	18	21
Capital spending	39	41	118	188	228	222	241	271
Free cash flow	17	13	−38	−128	−89	25	54	95
Free cash flow after stock pay	10	−22	−196	−170	−128	13	36	74
Share buybacks	0	0	288	0	0	—	—	—

US$ millions unless shown otherwise. Fiscal quarters.

Dutch Bros Inc.: cash flow statement, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Cash from operations	83	62	37	90	89	80	85	112
Depreciation and amortisation	24	26	26	21	22	32	38	28
Stock-based pay	3	3	4	5	5	5	5	7
Capital spending	57	43	46	54	70	71	57	72
Free cash flow	26	19	−9	36	19	8	28	40
Free cash flow after stock pay	23	16	−13	31	14	4	22	33

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Dutch Bros Inc.'s SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Dutch Bros Inc.