vs
Dutch Bros Inc.（BROS）与DigitalOcean Holdings, Inc.（DOCN）财务数据对比。点击上方公司名可切换其他公司
Dutch Bros Inc.的季度营收约是DigitalOcean Holdings, Inc.的1.9倍（$464.4M vs $242.4M），DigitalOcean Holdings, Inc.净利率更高（10.6% vs 5.1%，领先5.5%），Dutch Bros Inc.同比增速更快（30.8% vs 18.3%），过去两年Dutch Bros Inc.的营收复合增速更高（19.6% vs 14.5%）
Dutch Bros Inc.是美国上市得来速咖啡连锁品牌，1992年由戴恩·博尔斯马与特拉维斯·博尔斯马创立，原总部位于俄勒冈州格兰茨帕斯，2025年迁至亚利桑那州坦佩。品牌拥有直营及加盟门店，主力布局美国西部市场，目前扩张范围最东已覆盖佛罗里达州奥兰多。
DigitalOcean Holdings, Inc.是美国跨国科技企业及云服务提供商，总部位于美国科罗拉多州布鲁姆菲尔德，在全球布局15个数据中心，面向开发者、初创企业及中小微企业提供稳定易用的云基础设施即服务平台，助力各类技术团队高效开展业务。
BROS vs DOCN — 直观对比
营收规模更大
BROS
是对方的1.9倍
$242.4M
营收增速更快
BROS
高出12.5%
18.3%
净利率更高
DOCN
高出5.5%
5.1%
两年增速更快
BROS
近两年复合增速
14.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $464.4M | $242.4M |
| 净利润 | $23.7M | $25.7M |
| 毛利率 | 23.1% | 58.7% |
| 营业利润率 | 7.4% | 16.0% |
| 净利率 | 5.1% | 10.6% |
| 营收同比 | 30.8% | 18.3% |
| 净利润同比 | 5.3% | 40.5% |
| 每股收益（稀释后） | $0.13 | $0.23 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收BROSDOCN
| Q1 26 | $464.4M | — | ||
| Q4 25 | $443.6M | $242.4M | ||
| Q3 25 | $423.6M | $229.6M | ||
| Q2 25 | $415.8M | $218.7M | ||
| Q1 25 | $355.2M | $210.7M | ||
| Q4 24 | $342.8M | $204.9M | ||
| Q3 24 | $338.2M | $198.5M | ||
| Q2 24 | $324.9M | $192.5M |
净利润BROSDOCN
| Q1 26 | $23.7M | — | ||
| Q4 25 | $21.4M | $25.7M | ||
| Q3 25 | $17.5M | $158.4M | ||
| Q2 25 | $25.6M | $37.0M | ||
| Q1 25 | $15.4M | $38.2M | ||
| Q4 24 | $3.6M | $18.3M | ||
| Q3 24 | $12.6M | $32.9M | ||
| Q2 24 | $11.9M | $19.1M |
毛利率BROSDOCN
| Q1 26 | 23.1% | — | ||
| Q4 25 | 24.1% | 58.7% | ||
| Q3 25 | 25.2% | 59.6% | ||
| Q2 25 | 28.9% | 59.9% | ||
| Q1 25 | 25.3% | 61.4% | ||
| Q4 24 | 25.7% | 57.1% | ||
| Q3 24 | 26.6% | 60.2% | ||
| Q2 24 | 27.8% | 61.0% |
营业利润率BROSDOCN
| Q1 26 | 7.4% | — | ||
| Q4 25 | 7.7% | 16.0% | ||
| Q3 25 | 9.8% | 19.6% | ||
| Q2 25 | 13.1% | 16.3% | ||
| Q1 25 | 8.7% | 17.9% | ||
| Q4 24 | 4.6% | 15.9% | ||
| Q3 24 | 9.6% | 12.4% | ||
| Q2 24 | 9.9% | 11.6% |
净利率BROSDOCN
| Q1 26 | 5.1% | — | ||
| Q4 25 | 4.8% | 10.6% | ||
| Q3 25 | 4.1% | 69.0% | ||
| Q2 25 | 6.2% | 16.9% | ||
| Q1 25 | 4.3% | 18.1% | ||
| Q4 24 | 1.1% | 8.9% | ||
| Q3 24 | 3.7% | 16.6% | ||
| Q2 24 | 3.7% | 9.9% |
每股收益（稀释后）BROSDOCN
| Q1 26 | $0.13 | — | ||
| Q4 25 | $0.17 | $0.23 | ||
| Q3 25 | $0.14 | $1.51 | ||
| Q2 25 | $0.20 | $0.39 | ||
| Q1 25 | $0.13 | $0.39 | ||
| Q4 24 | $0.03 | $0.21 | ||
| Q3 24 | $0.11 | $0.33 | ||
| Q2 24 | $0.12 | $0.20 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $263.5M | $254.5M |
| 总债务越低越好 | $199.3M | $1.3B |
| 股东权益账面价值 | $920.5M | $-28.7M |
| 总资产 | $3.1B | $1.8B |
| 负债/权益比越低杠杆越低 | 0.22× | — |
8季度趋势，按日历期对齐
现金及短期投资BROSDOCN
| Q1 26 | $263.5M | — | ||
| Q4 25 | $269.4M | $254.5M | ||
| Q3 25 | $267.2M | $236.6M | ||
| Q2 25 | $254.4M | $387.7M | ||
| Q1 25 | $316.4M | $360.4M | ||
| Q4 24 | $293.4M | $428.4M | ||
| Q3 24 | $281.1M | $439.9M | ||
| Q2 24 | $260.9M | $443.1M |
总债务BROSDOCN
| Q1 26 | $199.3M | — | ||
| Q4 25 | $202.5M | $1.3B | ||
| Q3 25 | $202.3M | $1.3B | ||
| Q2 25 | $203.3M | — | ||
| Q1 25 | $284.2M | — | ||
| Q4 24 | $238.0M | $1.5B | ||
| Q3 24 | $241.2M | — | ||
| Q2 24 | $244.3M | — |
股东权益BROSDOCN
| Q1 26 | $920.5M | — | ||
| Q4 25 | $680.8M | $-28.7M | ||
| Q3 25 | $656.6M | $-69.6M | ||
| Q2 25 | $636.2M | $-175.2M | ||
| Q1 25 | $599.1M | $-210.7M | ||
| Q4 24 | $537.4M | $-203.0M | ||
| Q3 24 | $523.1M | $-211.7M | ||
| Q2 24 | $509.1M | $-253.8M |
总资产BROSDOCN
| Q1 26 | $3.1B | — | ||
| Q4 25 | $3.0B | $1.8B | ||
| Q3 25 | $2.9B | $1.7B | ||
| Q2 25 | $2.8B | $1.7B | ||
| Q1 25 | $2.8B | $1.6B | ||
| Q4 24 | $2.5B | $1.6B | ||
| Q3 24 | $2.4B | $1.5B | ||
| Q2 24 | $2.4B | $1.5B |
负债/权益比BROSDOCN
| Q1 26 | 0.22× | — | ||
| Q4 25 | 0.30× | — | ||
| Q3 25 | 0.31× | — | ||
| Q2 25 | 0.32× | — | ||
| Q1 25 | 0.47× | — | ||
| Q4 24 | 0.44× | — | ||
| Q3 24 | 0.46× | — | ||
| Q2 24 | 0.48× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $84.7M | $57.3M |
| 自由现金流经营现金流 - 资本支出 | — | $31.1M |
| 自由现金流率自由现金流/营收 | — | 12.8% |
| 资本支出强度资本支出/营收 | — | 10.8% |
| 现金转化率经营现金流/净利润 | 3.58× | 2.23× |
| 过去12个月自由现金流最近4个季度 | — | $180.5M |
8季度趋势，按日历期对齐
经营现金流BROSDOCN
| Q1 26 | $84.7M | — | ||
| Q4 25 | $79.6M | $57.3M | ||
| Q3 25 | $89.1M | $95.8M | ||
| Q2 25 | $89.9M | $92.4M | ||
| Q1 25 | $36.9M | $64.1M | ||
| Q4 24 | $62.2M | $71.3M | ||
| Q3 24 | $83.5M | $73.4M | ||
| Q2 24 | $59.5M | $71.3M |
自由现金流BROSDOCN
| Q1 26 | — | — | ||
| Q4 25 | $8.5M | $31.1M | ||
| Q3 25 | $18.9M | $88.0M | ||
| Q2 25 | $35.7M | $59.3M | ||
| Q1 25 | $-8.7M | $2.1M | ||
| Q4 24 | $19.5M | $26.1M | ||
| Q3 24 | $26.4M | $16.0M | ||
| Q2 24 | $-4.9M | $39.5M |
自由现金流率BROSDOCN
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | 12.8% | ||
| Q3 25 | 4.5% | 38.3% | ||
| Q2 25 | 8.6% | 27.1% | ||
| Q1 25 | -2.4% | 1.0% | ||
| Q4 24 | 5.7% | 12.7% | ||
| Q3 24 | 7.8% | 8.1% | ||
| Q2 24 | -1.5% | 20.5% |
资本支出强度BROSDOCN
| Q1 26 | — | — | ||
| Q4 25 | 16.0% | 10.8% | ||
| Q3 25 | 16.6% | 3.4% | ||
| Q2 25 | 13.0% | 15.2% | ||
| Q1 25 | 12.8% | 29.4% | ||
| Q4 24 | 12.5% | 22.1% | ||
| Q3 24 | 16.9% | 28.9% | ||
| Q2 24 | 19.8% | 16.6% |
现金转化率BROSDOCN
| Q1 26 | 3.58× | — | ||
| Q4 25 | 3.73× | 2.23× | ||
| Q3 25 | 5.09× | 0.60× | ||
| Q2 25 | 3.51× | 2.50× | ||
| Q1 25 | 2.40× | 1.68× | ||
| Q4 24 | 17.23× | 3.91× | ||
| Q3 24 | 6.60× | 2.23× | ||
| Q2 24 | 4.99× | 3.73× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
BROS
| Company-operated shops | $429.1M | 92% |
| Franchising and other | $35.4M | 8% |
DOCN
| Scalers | $84.3M | 35% |
| Scalers Plus | $69.9M | 29% |
| Builders | $64.1M | 26% |
| Learners Testers And Other | $24.1M | 10% |
