Dutch Bros Inc. operates and franchises drive-thru shops. It offers Dutch Bros hot and cold espresso-based beverages, and cold brew coffee products, as well as Blue Rebel energy drinks, tea, lemonade, smoothies, and other beverages through company-operated shops and online channels. Based on the Dutch Bros Inc. stock forecasts from 8 analysts, the average analyst target price for Dutch Bros Inc. is USD 49.00 over the next 12 months. Dutch Bros Inc.’s average analyst rating is Buy . Stock Target Advisor’s own stock analysis of Dutch Bros Inc. is Slightly Bearish, which is based on 3 positive signals and 5 negative signals. At the last closing, Dutch Bros Inc.’s stock price was USD 39.85. Dutch Bros Inc.’s stock price has changed by +29.38% over the past week, -16.58% over the past month and 0% over the last year.

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BROS:NYE (Dutch Bros Inc.)
Restaurants | NYE | Common Stock
Values as of 1st Jun, 2022
Stock Target Advisor
Detailed Stock Report
Report Date: 2nd June, 2022
Last Close
USD 39.85
Change
+2.30(+6.13%)
Market Cap
USD 6.12B
1 Yr Capital Gain
N/A
1 Yr Dividend Return
N/A
1 Yr Total
Return
N/A
Earning Growth (5 yr)
-147.03%
Average Target Price
49.00(+22.96% )
Average Analyst
Rating
Buy
Fundamental
Analysis
Slightly Bearish
Our view of the stock is Slightly Bearish with a score of 3.7 out of 10, where 0 is very bearish and 10 very bullish
What to like
Positive cash flow
The company had positive total cash flow in the most recent four quarters.
Positive free cash flow
The company had positive total free cash flow in the most recent four quarters.
High Gross Profit to Asset Ratio
This stock is in the top quartile compared to its peers on Gross Profit to Asset Ratio. This is a popular measure among value investors for showing superior returns in
the long run.
What to not like
Overpriced compared to book value
The stock is trading high compared to its peers median on a price to book value basis.
Overpriced on cashflow basis
The stock is trading high compared to its peers on a price to cash flow basis. It is priced above the median for its sectors. Proceed with caution if you are considering
to buy.
Overpriced on free cash flow basis
The stock is trading high compared to its peers on a price to free cash flow basis. It is priced above the median for its sectors. Proceed with caution if you are
considering to buy.
Low Earnings Growth
This stock has shown below median earnings growth in the previous 5 years compared to its sector
Low Revenue Growth
This stock has shown below median revenue growth in the previous 5 years compared to its sector

2. Page 2 of 9 Any information in this report is not , and should not be regarded as investment advice or as a recommendation regarding any particular security or course of
action. We recommend seeking a licensed professional for investment advice.
BROS:NYE (Dutch Bros Inc.)
Restaurants | | Common Stock
Stock Target Advisor
Detailed Stock Report
Report Date: 2nd June, 2022
Adjusted Closing Share Volume
Relative Returns Relative Performance (Total Returns)
Security Capital Gain Dividend Return Total Return
BROS
Dutch Bros Inc.
+8.6% 0 +8.6%
VTI
Vanguard Index Funds -
Vanguard Total Stock Market
ETF
-11.3% +1% -10.3%
Company Overview
Dutch Bros Inc. operates and franchises drive-thru shops. It offers Dutch Bros hot and cold espresso-based beverages, and cold brew coffee
products, as well as Blue Rebel energy drinks, tea, lemonade, smoothies, and other beverages through company-operated shops and online
channels. As of May 11, 2022, it operated 572 drive-thru coffee locations across 12 states in the United States. The company was founded in
1992 and is headquartered in Grants Pass, Oregon.

3. Page 3 of 9 Any information in this report is not , and should not be regarded as investment advice or as a recommendation regarding any particular security or course of
action. We recommend seeking a licensed professional for investment advice.
Company Website
https://www.dutchbros.com
Address
110 SW 4th Street, Grants Pass, OR, United States, 97526
Fiscal Year End
December
Employees
11500
Technical Indicators
Value Value
Beta N/A 52 Week High 81.40
Short Ratio 3.38 52 Week Low 20.05
Shorted Shares 9,421,882 200 Day Moving Average 50.60
Shorted Shares Previous Month 7,886,270 50 Day Moving Average 45.73
Shares Held By Insiders 1,491.40% Short Percentage 3.00%
Shares Held by Institutions 59.45 Dividend Yield N/A

4. Page 4 of 9 Any information in this report is not , and should not be regarded as investment advice or as a recommendation regarding any particular security or course of
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BROS:NYE (Dutch Bros Inc.)
Restaurants | | Common Stock
Stock Target Advisor
Detailed Stock Report
Report Date: 2nd June, 2022
Market Performance
Market Performance vs. Industry / Classification (Restaurants) Market Performance vs. Exchange (Nasdaq Global Select)
Value Sector Median
Percentile
Rank
Grade Market Median Percentile Rank Grade
YTD
Capital Gain -21.72% -17.7% 33% -10.8% 23%
Dividend Return N/A 0.7% N/A 1.1% N/A
Total Return -21.72% -16.3% 28% -9.9% 21%
Trailing 12 Months
Capital Gain N/A -20.3% N/A -9.9% N/A
Dividend Return N/A 0.9% N/A 2.7% N/A
Total Return N/A -20.3% N/A -7.2% N/A
Trailing 5 Years
Capital Gain N/A 24.6% N/A 6.9% N/A
Dividend Return N/A 11.4% N/A 12.8% N/A
Total Return N/A 24.6% N/A 22.4% N/A
Average Annual (5 Year Horizon)
Capital Gain N/A 13.6% N/A 4.9% N/A
Dividend Return N/A 2.3% N/A 2.2% N/A
Total Return N/A 15.4% N/A 8.0% N/A
Risk Return Profile
Volatility (Standard
Deviation)
N/A 36.8% N/A 23.1% N/A
Risk Adjusted Return N/A N/A N/A 39.9% N/A
Market Capitalization 6.12B 1.77B 61% 1.27B 77%

5. Page 5 of 9 Any information in this report is not , and should not be regarded as investment advice or as a recommendation regarding any particular security or course of
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Key Financial Ratios
Ratios vs. Industry / Classification (Computer Hardware) Ratios vs. Exchange (Nasdaq Global Select)
Value Sector Median
Percentile
Rank
Grade Market Median Percentile Rank Grade
Market Value
peratio N/A 16.3 N/A 16.4 N/A
pbratio 14.1 3.6 15% 1.6 5%
pcfratio 76.1 16.1 11% 7.4 4%
pfcfratio 106.0 14.4 6% 10.9 3%
Management Effectiveness
retequity N/A -5.1% N/A 10.0% N/A
retinvcap -56.80% 10.7% 6% 5.6% 4%
retass -13.23% 3.4% 11% 2.5% 4%
debtequityratio 1.67% 23.1% 54% 68.3% 91%
Technical Ratios
yield N/A 2.7% N/A 3.0% N/A
sratio 3.38 3.38 50% 2.05 31%
spercent 27.73% 3.0% 6% 3.8% 21%
beta N/A 1.22 N/A 1.03 N/A

6. Page 6 of 9 Any information in this report is not , and should not be regarded as investment advice or as a recommendation regarding any particular security or course of
action. We recommend seeking a licensed professional for investment advice.
BROS:NYE (Dutch Bros Inc.)
Restaurants | | Common Stock
Stock Target Advisor
Detailed Stock Report
Report Date: 2nd June, 2022
Recent Analyst Ratings
Price Action Rating Action Analyst Rating Price date
Target Up JP Morgan & Company USD 40 2022-05-26
Maintains Barclays Equal-Weight USD 53 » USD 25 2022-05-13
Downgraded by Stifel Nicolaus Research Buy » Hold USD 70 » USD 30 2022-05-12
Target Lowered by Robert W Baird USD 60 » USD 30 2022-05-12
Target Lowered by Bank of America USD 80 » USD 64 2022-05-12
Target Lowered by Cowen USD 65 » USD 35 2022-05-12
Initiated by Gordon Haskett Buy USD 64 2022-04-13
Target Lowered by Piper Sandler Overweight USD 85 » USD 75 2022-04-05
Target Lowered by Cowen Outperform USD 70 » USD 65 2022-03-02
Maintains Barclays Equal-Weight USD 56 » USD 53 2021-12-15
Target Raised by JP Morgan & Company Overweight » Overweight USD 47 » USD 58 2021-12-14
Maintains Cowen Outperform USD 50 » USD 70 2021-11-11
Reiterated by Piper Sandler Overweight USD 60 » USD 85 2021-11-11
Target Raised by Stifel Nicolaus Research Buy USD 52 » USD 70 2021-11-11
Target Raised by Bank of America Buy USD 55 » USD 80 2021-10-27
Initiates Coverage On Cowen Outperform USD 50 2021-10-11
Initiated by Robert W Baird Outperform USD 56 2021-10-11
Initiated by Bank of America Buy USD 55 2021-10-11
Initiated by Piper Sandler Overweight USD 60 2021-10-11
Initiated by William Blair Outperform 2021-10-11
Initiated by Stifel Nicolaus Research Buy USD 52 2021-10-11
Initiates Coverage On Barclays Equal-Weight USD 40 2021-10-11
Initiated by JP Morgan & Company Overweight USD 47 2021-10-11
Initiated by Jefferies Financial LLC Buy USD 60 2021-10-11

7. Page 7 of 9 Any information in this report is not , and should not be regarded as investment advice or as a recommendation regarding any particular security or course of
action. We recommend seeking a licensed professional for investment advice.
BROS:NYE (Dutch Bros Inc.)
Restaurants | | Common Stock
Stock Target Advisor
Detailed Stock Report
Report Date: 2nd June, 2022
Annual Financial (USD)

8. Page 8 of 9 Any information in this report is not , and should not be regarded as investment advice or as a recommendation regarding any particular security or course of
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BROS:NYE (Dutch Bros Inc.)
Restaurants | | Common Stock
Stock Target Advisor
Detailed Stock Report
Report Date: 2nd June, 2022
Quarterly Financial (USD)

9. Page 9 of 9 Any information in this report is not , and should not be regarded as investment advice or as a recommendation regarding any particular security or course of
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BROS:NYE (Dutch Bros Inc.)
Restaurants | | Common Stock
Stock Target Advisor
Detailed Stock Report
Report Date: 2nd June, 2022
Largest Industry Peers for Restaurants
Symbol Company Name Price(Change) Market Cap
MCD McDonald’s Corporation -2.93 (-1.2%) USD 186.27B
CMG Chipotle Mexican Grill Inc -27.83 (-2.0%) USD 39.22B
YUM Yum! Brands Inc -2.05 (-1.7%) USD 34.15B
QSR Restaurant Brands Internationa.. -0.66 (-1.3%) USD 23.43B
YUMC Yum China Holdings Inc -0.66 (-1.5%) USD 18.18B
DRI Darden Restaurants Inc -1.07 (-0.9%) USD 15.72B
DPZ Domino's Pizza Inc -2.32 (-0.6%) USD 13.09B
SG Sweetgreen Inc. -0.61 (-3.3%) USD 2.09B
CNNE Cannae Holdings Inc -0.32 (-1.6%) USD 1.77B
SHAK Shake Shack Inc -1.58 (-3.2%) USD 1.76B
The Stock Target Advisor platform run millions of calculations every day on over 30,000 Canadian and American stocks, comparing and
ranking their financial and market performance against their sectors and exchange.
We represent the percentile ranking using the following grading system.
Letter Grade Percentage Letter Grade Percentage Letter Grade Percentage
A+ 97%-100% A 93%-96% A- 90%-92%
B+ 97%-89% B 83%-86% B- 80%-82%
C+ 77%-79% C 73%-76% C- 70%-72%
D+ 67%-69% D 63%-66% D- 60%-62%
F 0%-59%