BROS
Dutch Bros Inc.
BROS has the edge over NKE overall, supported by stronger modeled upside and stronger fundamentals.
NKE
NIKE, Inc.
NKE trails on the overall score without a compensating advantage in the available component scores.
BROS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Healthy | |
| Strong |
BROS's revenue, profitability, cash flow and balance sheet are all currently healthy.
NKE Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Stable | |
| Strong |
NKE's profitability and balance sheet are currently healthy, and its revenue and cash flow are stable.
BROS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 31x | $33.71 | — |
| Current | 43x | $33.71 | — |
| Cheap | 88x | $68.51 | +103% |
| Fair | 162x | $126 | +275% |
| Expensive | 567x | $442 | +1213% |
Historical ranges are pointers, not guarantees.
BROS has the edge over NKE in the historical PE scenario, which offers more potential upside but is not a forecast.
NKE PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 18x | $37.76 | — |
| Cheap | 23x | $47.70 | +26% |
| Forward | 30x | $37.76 | — |
| Fair | 33x | $68.16 | +80% |
| Expensive | 47x | $97.86 | +159% |
Historical ranges are pointers, not guarantees.
NKE's PE is in its cheap range at 18x. On analysts' estimates for next year's earnings, today's price would be 30x, in its fair range.
BROS Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Stable | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for BROS, with profitability holding steady. However, they disagree widely on these estimates.
NKE Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Stable | |
| Decline | |
| Improving | |
| Moderate | |
| Low |
Analysts expect NKE's profitability to improve, but its revenue to decline. However, they disagree widely on these estimates.
BROS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.10 | +41% |
| Q3 2026 | $0.78 | +56% |
| Q2 2026 | $0.72 | +53% |
| Q1 2026 | $0.64 | +64% |
| Q4 2025 | $0.64 | +88% |
| Q3 2025 | $0.50 | +72% |
| Q2 2025 | $0.47 | +88% |
| Q1 2025 | $0.39 | +117% |
| Q4 2024 | $0.34 | +1033% |
BROS has the edge over NKE on earnings, with more consistent year-over-year improvement.
NKE Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.27 | -39% |
| Q3 2026 | $2.09 | +7.2% |
| Q2 2026 | $2.10 | -2.8% |
| Q1 2026 | $1.51 | -50% |
| Q4 2025 | $1.70 | -48% |
| Q3 2025 | $1.95 | -44% |
| Q2 2025 | $2.16 | -42% |
| Q1 2025 | $3.01 | -11% |
| Q4 2024 | $3.24 | -5.3% |
NKE's earnings per share have fallen from their peak: $2.09 over the past year, against $3.82 in late 2021.
BROS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $549.8M | +30% |
| Q2 2026 | $550.9M | +32% |
| Q1 2026 | $464.4M | +31% |
| Q4 2025 | $443.6M | +29% |
| Q3 2025 | $423.6M | +25% |
| Q2 2025 | $415.8M | +28% |
| Q1 2025 | $355.2M | +29% |
| Q4 2024 | $342.8M | +35% |
BROS has the edge over NKE on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 9.6% | -0.2 points |
| Q2 2026 | 13% | -0.4 points |
| Q1 2026 | 7.4% | -1.4 points |
| Q4 2025 | 7.7% | +3.1 points |
| Q3 2025 | 9.8% | +0.2 points |
| Q2 2025 | 13% | +3.2 points |
| Q1 2025 | 8.8% | -0.6 points |
| Q4 2024 | 4.6% | +3.7 points |
BROS has the edge over NKE on profitability, with a higher operating margin.
NKE Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $11.2B | -4.3% |
| Q2 2026 | $11B | -1.1% |
| Q1 2026 | $11.3B | +0.1% |
| Q4 2025 | $12.4B | +0.6% |
| Q3 2025 | $11.7B | +1.1% |
| Q2 2025 | $11.1B | -12% |
| Q1 2025 | $11.3B | -9.3% |
| Q4 2024 | $12.4B | -7.7% |
NKE's revenue fell from its 2023 peak and has held roughly level since: $11.2B last quarter, down 4.3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 8.2% | +0.3 points |
| Q2 2026 | 12% | +9.2 points |
| Q1 2026 | 5.8% | -1.7 points |
| Q4 2025 | 8% | -3.4 points |
| Q3 2025 | 7.9% | -3.4 points |
| Q2 2025 | 2.9% | -11 points |
| Q1 2025 | 7.5% | -3.8 points |
| Q4 2024 | 11% | -2.9 points |
NKE's operating margin was 8.2% last quarter, about level with the same quarter a year ago.
BROS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $14.8M | -22% |
| Q2 2026 | $39.9M | +12% |
| Q1 2026 | $27.7M | +$36.4M |
| Q4 2025 | $8.5M | -56% |
| Q3 2025 | $18.9M | -28% |
| Q2 2025 | $35.7M | +$40.6M |
| Q1 2025 | -$8.7M | +$7.6M |
| Q4 2024 | $19.5M | +$35.2M |
BROS has the edge over NKE on cash flow, with more consistent year-over-year improvement.
NKE Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$64M | -527% |
| Q2 2026 | $1.5B | +313% |
| Q1 2026 | $284M | -83% |
| Q4 2025 | $386M | -58% |
| Q3 2025 | $15M | -95% |
| Q2 2025 | $363M | -85% |
| Q1 2025 | $1.7B | -11% |
| Q4 2024 | $920M | -65% |
NKE usually generates cash, though not every quarter: the latest was −$64M, but it generated $2.1B over the past year.
BROS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +2.5% | +3.4M shares |
| 1 year | +8.5% | +10.8M shares |
| 3 years | +141% | +80.8M shares |
| 5 years | +195% | +91.4M shares |
| Available history | +181% | +89.1M shares |
BROS has 138M diluted shares, up 8.5% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2022 | — |
| Q4 2021 | — |
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
NKE Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +3.2M shares |
| 1 year | +0.4% | +5.2M shares |
| 3 years | -3.8% | -59.1M shares |
| 5 years | -8.4% | -135M shares |
| Available history | -6.9% | -110M shares |
NKE has the edge over BROS on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | $20M |
| Q3 2025 | $126M |
| Q2 2025 | $199M |
| Q1 2025 | $506M |
| Q4 2024 | $1.1B |
NKE has spent almost nothing on buybacks in the past year.
BROS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.0x | Very low |
| Q2 2026 | -0.2x | Net Cash |
| Q1 2026 | -0.2x | Net Cash |
| Q4 2025 | -0.3x | Net Cash |
| Q3 2025 | -0.3x | Net Cash |
| Q2 2025 | -0.2x | Net Cash |
| Q1 2025 | -0.2x | Net Cash |
| Q4 2024 | -0.3x | Net Cash |
BROS has the edge over NKE on leverage, with a lower net debt burden relative to earnings.
NKE Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.2x | Very low |
| Q2 2026 | 0.1x | Very low |
| Q1 2025 | 0.1x | Very low |
| Q4 2024 | 0.2x | Very low |
| Q3 2024 | 0.1x | Very low |
| Q2 2024 | -0.1x | Net Cash |
| Q1 2024 | -0.0x | Very low |
| Q4 2023 | 0.1x | Very low |
NKE's net debt is less than a year of its operating earnings (EBITDA).
BROS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 31.1 | Neutral |
| Stochastic | 8.2 | Oversold |
BROS's weekly RSI is 31 (neutral) and its Stochastic is 8 (oversold).
NKE Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.0 | Neutral |
| Stochastic | 57.5 | Neutral |
NKE's weekly RSI is 40 (neutral) and its Stochastic is 58 (neutral).
BROS PE vs Consumer Cyclical Sector
| Metric | BROS | Sector median | Relative |
|---|---|---|---|
| PE | 43x | 18x | 140% above |
| PE % | 0 | 57 | 57 pts below |
BROS is trading at 43x earnings, a 140% premium to the Consumer Cyclical sector's median of 18x.
NKE PE vs Consumer Cyclical Sector
| Metric | NKE | Sector median | Relative |
|---|---|---|---|
| PE | 18x | 18x | 0.3% above |
| PE % | 2 | 47 | 45 pts below |
NKE has the edge over BROS on valuation relative to its sector.
BROS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $38.5 | 12% below |
| 20 week MA | $49.0 | 31% below |
| 50 week MA | $53.8 | 37% below |
| 100 week MA | $58.1 | 42% below |
| 200 week MA | $45.3 | 26% below |
BROS is in a downtrend: it's below all five of its weekly moving averages, and 26% below its 200-week average.
NKE Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $36.7 | 2.8% above |
| 20 week MA | $39.2 | 3.6% below |
| 50 week MA | $48.0 | 21% below |
| 100 week MA | $58.4 | 35% below |
| 200 week MA | $79.2 | 52% below |
NKE has the edge over BROS on trend strength, trading above more of its moving averages.
BROS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $43.6 | $52.9 | +21% |
| 2022 | $52.9 | $30.1 | -43% |
| 2023 | $30.1 | $31.7 | +5.3% |
| 2024 | $31.7 | $53.4 | +68% |
| 2025 | $53.4 | $64.0 | +20% |
| 2026 YTD | $64.0 | $33.7 | -47% |
BROS is down 47% so far in 2026, after finishing higher in four of the previous five years.
NKE Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $101.6 | $141.6 | +39% |
| 2021 | $141.6 | $165.7 | +17% |
| 2022 | $165.7 | $116.3 | -30% |
| 2023 | $116.3 | $108.6 | -6.6% |
| 2024 | $108.6 | $76.4 | -30% |
| 2025 | $76.4 | $60.9 | -20% |
| 2026 YTD | $60.9 | $37.8 | -38% |
NKE has the edge over BROS on returns for 2026, with the stronger performance.