CluenexDutch Bros BRBR
Dutch Bros scores good on business quality (6.9 of 10). Here is why, in plain words, and what our sealed record shows.
Why it matters
- What Dutch Bros does
BellRing Brands sells ready-to-drink protein shakes and powders primarily through the Premier Protein and Dymatize brands. Consumers buy these products through club stores, mass merchandisers, and online retailers for daily nutritional supplementation.
- What it does best
BellRing scales protein shake volume exceptionally fast, backed by a revenue growth rate of 16.1% that places it in the top decile of its sector at the 92nd percentile. Unlike Coty with its 63% gross margin, BellRing trades higher margin for massive club-store distribution scale.
- The main risk
A recent stock slide shows market jitters despite strong performance. The single operational threat is input cost volatility for dairy proteins, which can compress its 28.6% gross margin if supplier prices spike unexpectedly.
Quality, check by check
Scored against its own industry, from company filings.
Operating margin stands at 13.3% with an ROE of 23.7%. Margins are stable rather than expanding, as marketing and distribution scale offset raw material costs to keep net income at $171 million.
Brand loyalty locks in mainstream consumers via massive club-store shelf space. Its revenue growth ranks in the 92nd sector percentile, creating a distribution footprint rivals cannot easily replicate.
Revenue growth hit 16.1%, powered by Dymatize sales jumping 27%. This rate accelerates from historical periods, outpacing the broader consumer defensive sector.
Net debt sits at $1.0 billion against $225 million of free cash flow. Interest coverage of 3.9x means debt servicing is manageable, but the heavy debt load keeps the financial profile mixed.
Insiders
Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.
1 insider bought $20K on the open market.
Our sealed record on BRBR
Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.
The first sealed verdicts appear here on Oct 11, 2026.
Questions
Dutch Bros scores good on the Cluenex quality check (6.9 of 10), measured against its own industry. Profitability is fair, moat strong, growth fast and financial health fair.
In the last 90 days of SEC Form 4 filings: 1 insider bought $20K on the open market.
Not scheduled yet.
See BRBR today
- Today's verdict on BRBR, and why
- Fair value with cautious, base and optimistic cases
- The exact price that would change the verdict
- Which stocks each signal names, the night it fires
Cite this page: Cluenex, “Dutch Bros (BRBR)”, https://cluenex.com/stocks/brbr/, data as of Oct 10, 2026.