Dutch Bros vs Cava Group
Dutch Bros reported revenue of $1.6 billion in fiscal 2025, 1.4 times Cava Group's $1.2 billion in fiscal 2025. Dutch Bros' revenue grew 27.9% in its latest year, and Cava Group's grew 22.4%. Dutch Bros had an operating margin of 9.8%, against 4.7% at Cava Group. Free cash flow was $54 million at Dutch Bros and $26 million at Cava Group. Their fiscal years end in different months (December 31 and December 28), so the periods don't line up exactly.
Side by side
| Dutch Bros | Cava Group | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 28, 2025 |
| Revenue | $1.6B | $1.2B |
| Revenue growth | 27.9% | 22.4% |
| Revenue growth a year, last 5 years | 38.0% | — |
| Gross margin | 25.9% | — |
| Operating margin | 9.8% | 4.7% |
| Net margin | 4.9% | 5.4% |
| Free cash flow | $54M | $26M |
| Free cash flow margin | 3.3% | 2.2% |
| Return on capital | 11.9% | 13.9% |
| Net debt to EBITDA | 1.3x | −3.0x |
| Dividends and buybacks | $0M | $0M |
| Change in diluted share count | 20.8% | 0.0% |
| Last close | $42.02 | $51.53 |
| P/E at the last close | 58.4× | 93.7× |
| Insider trades, last 12 months | bought $205,480, sold $646.0 million | bought $1.2 million, sold $286.1 million |
| Piotroski F-score | 5 of 9 | 4 of 8 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Dutch BrosCava Group
Operating margin
Percent of revenue
Dutch BrosCava Group
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Dutch BrosCava Group
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Dutch Bros and Cava Group pages.