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Shares of Dutch Bros (NYSE: BROS) have soared 71% year to date as of Dec. 4, with most of its gains coming in the wake of the company's third-quarter earnings report from Nov. 6.

Some investors might be hesitant to jump in after the recent spike in the share price, especially with the stock trading at 187 times earnings.

However, there is one chart that shows the stock still has enormous return potential, even after its recent rally.

A reasonably valued restaurant growth stock

Dutch Bros is reinvesting most of its profits back into the business by opening more locations across the U.S. It's operating with a slim net profit margin of just 3.7% last quarter. This is normal for smaller restaurant operators, but it also means investors need to look at other metrics to see the real value in the shares.

Here's a comparison of the price-to-sales (P/S) ratios of Starbucks (NASDAQ: SBUX) and Dutch Bros over their respective trading histories. As you can see, in its three years as a public company, Dutch Bros stock has traded well within the range of P/S multiples that Starbucks has seen over its 30-year trading history.

Data by YCharts.

In fact, Starbucks stock has risen at close to the same rate as its annual revenue growth over the last 30 years. An investor that put $10,000 in Starbucks on Dec. 4, 1994, would have $1.2 million today, excluding dividends.

With revenue growth and expansion being critical to Starbucks' decades of gains, it explains why investors were so excited by Dutch Bros' 28% year-over-year revenue growth in Q3. The company had 950 stores open in just 18 states at the end of the quarter, but it will likely open hundreds, if not thousands, more locations across the U.S. over the next few decades.

Should you invest $1,000 in Dutch Bros right now?

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John Ballard has positions in Dutch Bros. The Motley Fool has positions in and recommends Starbucks. The Motley Fool recommends Dutch Bros. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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