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Dutch Bros vs Wendy's: BROS and WEN compared
Dutch Bros is the larger company: $550M of revenue in its latest quarter (Q3 2026) against $547M for Wendy's (Q3 2026). Dutch Bros is growing faster (+30% against -0.5% a year earlier). Wendy's is more profitable, with an operating margin of 10.2% against 9.6%.
Where the money goes: BROS and WEN
Dutch Bros (BROS) · Q3 2026
Dutch Bros, Q3 2026: revenue $550M (+30% year over year), operating margin 9.6%, net earnings $27.2M, operating cash flow $100M. The chart follows the revenue to costs, profit and cash.
Wendy's (WEN) · Q3 2026
Wendy's, Q3 2026: revenue $547M (-0.5% year over year), operating margin 10.2%, net earnings $15.1M, operating cash flow $79.0M. The chart follows the revenue to costs, profit and cash.
| Dutch Bros (BROS) | Wendy's (WEN) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $550M | $547M |
| Revenue growth, Y/Y | +30% | -0.5% |
| Operating margin | 9.6% | 10.2% |
| Net earnings | $27.2M | $15.1M |
| Net margin | 4.9% | 2.8% |
| Operating cash flow | $100M | $79.0M |
| Free cash flow | $14.8M | $61.7M |
| Market value | $4.7B | $1.6B |
| P/E | 50.5× | 16.1× |
| Analysts’ mean target | $62.64 | $7.53 |
Where the revenue comes from
Dutch Bros
- Company-operated shops: $515M (94%)
- Franchising and other: $34.8M (6%)
Wendy's
- Sales: $235M (43%)
- Franchise royalty revenue and fees: $142M (26%)
- Advertising funds revenue: $111M (20%)
- Franchise rental income: $58.5M (11%)
Questions
Which is bigger, Dutch Bros or Wendy's?
Dutch Bros is the larger company: $550M of revenue in its latest quarter (Q3 2026) against $547M for Wendy's (Q3 2026).
Is Dutch Bros or Wendy's growing faster?
Dutch Bros is growing faster (+30% against -0.5% a year earlier).
Which is more profitable, Dutch Bros or Wendy's?
Wendy's is more profitable, with an operating margin of 10.2% against 9.6%.
More: Dutch Bros earnings · how Dutch Bros makes money · Wendy's earnings · how Wendy's makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.