Dutch Bros: Peers

The FY2025 (Dec) proxy of Dutch Bros names 13 peer companies for pay. Pay versus performance data of Dutch Bros for that year is not on file, so it has no rank.

Pay peer group, FY2025 (Dec) proxy


Shake Shack
Cava Group
Celsius Holdings	Not disclosed	Not disclosed
El Pollo Loco Holdings, Inc.	Not disclosed	Not disclosed
First Watch Restaurant Group, Inc.	Not disclosed	Not disclosed
Jack in the Box Inc.	Not disclosed	Not disclosed
Krispy Kreme, Inc.	Not disclosed	Not disclosed
Papa John's International Inc.	Not disclosed	Not disclosed
Portillo's Inc.	Not disclosed	Not disclosed
Potbelly Corporation	Not disclosed	Not disclosed
Sweetgreen, Inc.	Not disclosed	Not disclosed
Wendy's Co.	Not disclosed	Not disclosed
Wingstop	Not disclosed	Not disclosed

13 companies

Changes by year

FY2025 (Dec) proxy

AddedCava Grouppay peer groupdue to their growth and business model
AddedSweetgreen, Inc.pay peer groupdue to their growth and business model
RemovedChuy’s Holdings, Inc. Chuy’s Holdings, Inc.pay peer groupOur 2024 peer group included BJ’s Restaurants, Inc., Dine Brands Global, Inc., and Chuy’s Holdings, Inc. Chuy’s Holdings, Inc. was acquired by Darden Restaurants, Inc. in October 2024 and is no longer publicly listed

FY2024 (Dec) proxy

AddedCelsius Holdingspay peer groupdue to their growth and business model
AddedFirst Watch Restaurant Group, Inc.pay peer groupdue to their growth and business model
AddedPortillo’s Inc.pay peer groupdue to their growth and business model
RemovedNoodles & Companypay peer groupdue to their growth and market cap, which are not aligned with ours
RemovedRed Robin Gourmet Burgers, Inc.pay peer groupdue to their growth and market cap, which are not aligned with ours

FY2023 (Dec) proxy

AddedKrispy Kreme, Inc.pay peer groupTo keep the peer group at an appropriate size, we added Krispy Kreme, Inc. and Noodles & Company, each of which were recommended by Semler Brossy as relevant business comparators
AddedNoodles & Companypay peer groupTo keep the peer group at an appropriate size, we added Krispy Kreme, Inc. and Noodles & Company, each of which were recommended by Semler Brossy as relevant business comparators
RemovedDenny’s Corporationpay peer groupfollowing its acquisition
RemovedJ. Alexander’s Holdings, Inc.pay peer groupfollowing its acquisition
RemovedRuth’s Hospitality Group, Inc.pay peer groupfollowing its acquisition

The comes from the company's proxy. CEO pay and of each company come from its own Pay versus Performance table for the same fiscal year. Each company counts TSR from its own start year, so two values compare only when the start years match.