<p>在咖啡市场，近年来最大的惊喜之一是 <strong>Dutch Bros</strong>(BROS -7.63%)。今年早些时候，其股票达到了历史最高点。尽管自那时以来几乎回落到熊市区域，但它似乎已成为继 <strong>Starbucks</strong>(SBUX -1.88%) 之后最受欢迎的咖啡股票。</p>
<p>考虑到目前的状态，Dutch Bros 在未来几年内很可能轻松超越这家成熟的咖啡巨头，而其中一个原因说明了这一点。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzE3NDgvZHV0Y2hfYnJvc19jb2ZmZWVfc2hvcF93aXRoX2xvZ29fYnJvcy5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzE3NDgvZHV0Y2hfYnJvc19jb2ZmZWVfc2hvcF93aXRoX2xvZ29fYnJvcy5qcGcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<h2>为什么股东应该关注 Dutch Bros</h2>
<p>投资者应该关注 Dutch Bros，因为它正在进行区域到全国的扩张。历史上，区域到全国的扩张为 <strong>Home Depot</strong> 和 <strong>Walmart</strong> 等商店带来了超额收益，但对 Dutch Bros 最相关的例子是其最大竞争对手 Starbucks。</p>
<p>当 Starbucks 在 1992 年开始交易时，它只有 165 个门店。在随后的几年中，其全国乃至全球的扩张增长到目前超过 41,000 家门店的规模。这一路径使 Starbucks 在其 33 年的历史中获得了近 26,000% 的回报，但也几乎耗尽了所有剩余的国内增长前景。</p>
<p>现在轮到 Dutch Bros 了。截至 2025 年第二季度末，该公司在 19 个州已增长至 1,043 家门店，比 12 个月前增加了 14%。</p>
<p>这一增长意味着，年初上半年收入为 7.71 亿美元，同比增长 29%。此外，仅适用于开业超过 15 个月的门店的同店销售在今年上半年增长了 5%。</p>
<p>投资者应该预期这种增长将继续。该公司已设定目标，到 2029 年拥有 2,029 家门店，这一目标将在四年内几乎将其规模翻倍。</p>
<p>从股票来看，过去一年其股价上涨了超过 130%。尽管 Dutch Bros 无法保证重复这样的表现，但区域到全国的扩张使得持续的股价增长极为可能。</p>

BROS

<p>Dutch Bros (BROS) 已成为领先的咖啡股票，最近从历史高点回落，但仍显示出增长潜力。该公司正从区域扩展到全国，目标是在 2029 年之前开设 2,029 家门店，这可能推动显著的收入增长。今年上半年收入增长 29%，同店销售额增长 5%，投资者对股票价格的持续增长持乐观态度，过去一年股价已上涨 130%</p>

<p>In the coffee market, one of the biggest surprises in recent years is <strong>Dutch Bros</strong>(BROS -7.63%). Earlier this year, its stock reached an all-time high. Even though it has almost pulled back into bear market territory since then, it appears to have become the most popular coffee stock since <strong>Starbucks</strong>(SBUX -1.88%).</p>
<div class="lb-trans"><p>在咖啡市场，近年来最大的惊喜之一是 <strong>Dutch Bros</strong>(BROS -7.63%)。今年早些时候，其股票达到了历史最高点。尽管自那时以来几乎回落到熊市区域，但它似乎已成为继 <strong>Starbucks</strong>(SBUX -1.88%) 之后最受欢迎的咖啡股票。</p>
</div><p>Given its current state, Dutch Bros could easily outperform the well-established coffee giant over the next few years, and one reason shows why.</p>
<div class="lb-trans"><p>考虑到目前的状态，Dutch Bros 在未来几年内很可能轻松超越这家成熟的咖啡巨头，而其中一个原因说明了这一点。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzE3NDgvZHV0Y2hfYnJvc19jb2ZmZWVfc2hvcF93aXRoX2xvZ29fYnJvcy5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F831748%2Fdutch_bros_coffee_shop_with_logo_bros.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>Why shareholders should focus on Dutch Bros</h2>
<div class="lb-trans"><h2>为什么股东应该关注 Dutch Bros</h2>
</div><p>Investors should focus on Dutch Bros due to its regional-to-national expansion. Historically, regional-to-national expansions have driven outsized gains for stores like <strong>Home Depot</strong> and <strong>Walmart</strong>, but the most relevant example for Dutch Bros is its largest competitor, Starbucks.</p>
<div class="lb-trans"><p>投资者应该关注 Dutch Bros，因为它正在进行区域到全国的扩张。历史上，区域到全国的扩张为 <strong>Home Depot</strong> 和 <strong>Walmart</strong> 等商店带来了超额收益，但对 Dutch Bros 最相关的例子是其最大竞争对手 Starbucks。</p>
</div><p>When Starbucks began trading in 1992, it only had 165 locations. In subsequent years, the national and then global expansion grew to its current footprint of over 41,000 stores. That growth path has earned Starbucks returns of nearly 26,000% over its 33-year history, but has also exhausted nearly all remaining domestic-growth prospects.</p>
<div class="lb-trans"><p>当 Starbucks 在 1992 年开始交易时，它只有 165 个门店。在随后的几年中，其全国乃至全球的扩张增长到目前超过 41,000 家门店的规模。这一路径使 Starbucks 在其 33 年的历史中获得了近 26,000% 的回报，但也几乎耗尽了所有剩余的国内增长前景。</p>
</div><p>Now, it's Dutch Bros' turn. As of the end of the second quarter of 2025, the company has grown to 1,043 shops in 19 states, 14% more shops than 12 months prior.</p>
<div class="lb-trans"><p>现在轮到 Dutch Bros 了。截至 2025 年第二季度末，该公司在 19 个州已增长至 1,043 家门店，比 12 个月前增加了 14%。</p>
</div><p>That increase means that revenue, which came in at $771 million for the first half of the year, rose 29%, compared to the same period last year. Also, same-store sales, which only apply to stores opened for more than 15 months, increased by 5% in the year's first half.</p>
<div class="lb-trans"><p>这一增长意味着，年初上半年收入为 7.71 亿美元，同比增长 29%。此外，仅适用于开业超过 15 个月的门店的同店销售在今年上半年增长了 5%。</p>
</div><p>Investors should expect the growth to continue. The company has outlined a goal of having 2,029 shops by 2029, a target that would nearly double its footprint in four years.</p>
<div class="lb-trans"><p>投资者应该预期这种增长将继续。该公司已设定目标，到 2029 年拥有 2,029 家门店，这一目标将在四年内几乎将其规模翻倍。</p>
</div><p>Looking at the stock, it has increased by just over 130% over the last year. Although Dutch Bros can't guarantee a repeat of that performance, the regional-to-national expansion makes continued stock-price growth highly likely.</p>
<div class="lb-trans"><p>从股票来看，过去一年其股价上涨了超过 130%。尽管 Dutch Bros 无法保证重复这样的表现，但区域到全国的扩张使得持续的股价增长极为可能。</p>
</div>

想要在股市中胜出？一个理由让你将目光投向 Dutch Bros 的股票