BROS vs DPZ: Dutch Bros and Domino's Pizza compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Domino's Pizza is the larger company, worth $10.1B, about 1.4 times Dutch Bros.
- Dutch Bros grew revenue faster over the last year (+32.5% vs +5.0%).
- Domino's Pizza keeps more of each dollar of revenue as operating profit (19.3% vs 9.6%).
- On earnings, Domino's Pizza is the cheaper stock (17.6x vs 62.7x).
- Dutch Bros's price assumes faster free cash flow growth: about 30% a year, against 1% for Domino's Pizza (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | BROS | DPZ |
|---|---|---|
| Market cap | $7.0B | $10.1B |
| Share price | $38.05 | $309.36 |
| Revenue (last fiscal year) | $1.6B | $4.9B |
| Free cash flow (last fiscal year) | $54M | $672M |
| Revenue growth, last year | +32.5% | +5.0% |
| Revenue growth per year, last 5 fiscal years | +34.7% | +3.2% |
| Operating margin | 9.6% | 19.3% |
| Net margin | 4.9% | 12.2% |
| Return on equity | 11.6% | — |
| P/E (trailing) | 62.7x | 17.6x |
| Price / free cash flow | 128.7x | 15.0x |
| EV / EBITDA | 27.6x | 14.9x |
| FCF growth the price implies | 29.9% | 1.2% |
| Dividend yield | — | 2.4% |
| Debt / equity | 3.01x | — |
| Fundamental grade | D | B |
| Superinvestors holding it | 3 | 4 |
| Insider purchases, last 12 months | 0 | 8 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Dutch Bros
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $498M | -$38M | -22.3% |
| 2022 | $739M | -$128M | -0.35% |
| 2023 | $966M | -$89M | 4.8% |
| 2024 | $1.3B | $25M | 8.3% |
| 2025 | $1.6B | $54M | 9.8% |
Domino's Pizza
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $4.4B | $560M | 17.9% |
| 2022 | $4.5B | $388M | 16.9% |
| 2023 | $4.5B | $485M | 18.3% |
| 2024 | $4.7B | $512M | 18.7% |
| 2025 | $4.9B | $672M | 19.3% |
Where the revenue comes from
Dutch Bros · by segments, 2025
Company-operated shops$1.5B92%
Franchising and other$129M8%
Domino's Pizza · by segments, 2025
Supply Chain$3.0B61%
U S Stores$1.6B33%
International Franchise$339M7%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open BROS in InvestinglyQuestions
Which is bigger, Dutch Bros or Domino's Pizza?
Domino's Pizza (DPZ), at $10.1B against $7.0B.
Is BROS or DPZ cheaper?
By trailing P/E, Domino's Pizza (17.6x) is cheaper than Dutch Bros (62.7x). A lower multiple can also mean the market expects less growth.
Which grows faster, BROS or DPZ?
Dutch Bros: revenue grew +32.5% over the last year, against +5.0%.
More comparisons
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.