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Boston Beer Co. Inc. (SAM)

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Boston Beer Co. Inc. (SAM) reported revenue of $520 million for Q3 FY2026, the quarter ended 26 September 2026, down 3.2% on the same quarter a year earlier. Net income was $43 million, down 6.5% on the year, and diluted earnings per share $4.21. The figures are the company's own, from the 10-Q it filed with the SEC on 22 October 2026.

Revenue$520 milliondown 3.2%
Net income$43 milliondown 6.5%
Diluted EPS$4.21
QuarterQ3 FY2026ended 26 September 2026

Boston Beer (SAM) in brief

Boston Beer (SAM) reported revenue of $2.0 billion for fiscal 2025, the year ended 27 December 2025, down 2.4% on the year before.
Read moreNet income was $108 million and diluted earnings per share $9.89. Revenue was $2.0 billion in fiscal 2024, $2.0 billion in fiscal 2023, $2.1 billion in fiscal 2022 and $2.1 billion in fiscal 2021. Net income in the same years was $60 million, $76 million, $67 million and $15 million. Over the twelve months to 26 September 2026, Boston Beer reported revenue of $1.9 billion and net loss of $73 million. Revenue grew 2.5% a year, compounded, over the five years to fiscal 2025. At 26 September 2026 it carried $0 million of debt and $308 million of cash. At the close of 27 October 2026 the market cap of Boston Beer was $2.0 billion.

Ratios

From the filings

ROE-9.9%
ROCE-13.1%
Operating margin-5.1%
Net margin-3.8%
FCF margin9.7%
Interest covern/a
Debt to equity0.00
Cash conversionn/a
Share count, last 12 months-5.5%
Sales CAGR, 3 years-2.0%
Profit CAGR, 3 years17.3%
EPS, TTM-$6.83

At the close of 27 October 2026

Price$200.20
Market cap$2.0 billion
Stock P/En/a
Price to book2.78
EV / EBITDAn/a
Dividend yieldn/a
Market cap / sales1.07
52-week high$260.05
52-week low$161.08
Price, 1 year-12.0%
Price CAGR, 3 years-14.4%
Price CAGR, 5 years-16.6%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Boston Beer Co. Inc.'s balance sheet shows no borrowings, so debt here is nil; lease liabilities are a separate line. Nothing here is a valuation or a view.
SAMgreeksoup.ai
Daily prices to 27 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on SAM

Dividendsno dividend in its filings for fiscal 2009 onward
Filings22 in twelve months: 15 current reports (8-K), about 7 other events; 5 officer or director change; 4 results of operations; 1 change in control
Planned insider sales1 Form 144 notice in twelve months, $642,043; latest 4 November 2025
Options tapeput/call 0.58 by open interest at the 27 October 2026 close; the straddle prices a 6.5% move to 20 November 2026
13F holders330 funds reported a position for the quarter to 30 June 2026; largest BlackRock, Inc.
Insider trading2 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest1.7 million shares short, 9.18 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 20 quarters

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue348430616596448410603602394426579605402454588537386434568520
Cost of revenue248257350339282254329327246240313325242235295264218220282251
Gross profit99.8173266258166156274275148186266280161219293273168214286269
Gross margin29%40%43%43%37%38%45%46%38%44%46%46%40%48%50%51%43%49%50%52%
Operating income-72.9-2.271.438.4-16.8-13.978.461.5-25.915.470.845.8-56.033.882.162.0-33.0-19070.856.3
Operating margin-21%-1%12%6%-4%-3%13%10%-7%4%12%8%-14%7%14%12%-9%-44%12%11%
Pre-tax income-73.3-2.370.938.2-15.4-12.480.164.1-22.218.873.349.1-53.635.884.164.2-30.6-18972.358.9
Tax raten/an/a25%29%n/an/a28%29%n/a33%29%32%n/a32%28%28%n/an/a29%27%
Net income-51.8-2.053.327.3-11.4-9.058.045.3-18.112.652.333.5-38.824.460.446.2-22.5-14551.643.2
Net margin-15%-0%9%5%-3%-2%10%8%-5%3%9%6%-10%5%10%9%-6%-33%9%8%
Diluted EPS-$4.08-$0.16$4.31$2.21-$0.93-$0.73$4.72$3.70-$1.49$1.04$4.39$2.86-$3.38$2.16$5.45$4.25-$2.12-$13.88$4.96$4.21
Operating cash flow5.3-41.0163103-25.0-17.811913132.8-4.996.011641.91.912610239.9-20.413876.6
Capital expenditure27.023.827.019.520.317.317.514.015.315.720.416.723.59.914.212.617.812.310.58.4
Free cash flow-21.7-64.813583.9-45.3-35.110111717.4-20.675.699.218.4-8.011289.222.1-32.812768.3
Buybacksn/an/an/an/an/a21.124.816.630.450.063.063.062.749.452.250.850.023.326.625.4
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 17 fiscal years and the trailing twelve months

FY2009FY2010FY2011 †FY2012FY2013FY2014FY2015FY2016 †FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue4154645135807399039609068639961,2501,7362,0582,0902,0092,0131,9651,908
Cost of revenue2012072282653544384584474134836369221,2601,2281,1561,1191,012971
Gross profit214256285315385465502460450512614814798862852894953937
Gross margin51.5%55.3%55.5%54.3%52.1%51.5%52.3%50.7%52.1%51.4%49.1%46.9%38.8%41.2%42.4%44.4%48.5%49.1%
Operating income54.381.210495.61131471561381161161452448.090.810076.0145-96.4
Operating margin13.1%17.5%20.2%16.5%15.3%16.2%16.3%15.2%13.4%11.6%11.6%14.1%0.4%4.3%5.0%3.8%7.4%-5.1%
Pre-tax income54.481.110495.51131461551371161161442446.991.411087.6153-88.3
Income tax23.231.037.436.042.154.956.649.817.123.634.352.3-7.624.233.327.945.0-15.2
Effective tax rate42.8%38.2%36.2%37.7%37.5%37.7%36.5%36.3%14.7%20.3%23.8%21.4%-110.6%26.4%30.4%31.9%29.3%n/a
Net income31.150.166.159.570.490.798.487.399.092.711019214.667.376.259.7108-73.1
Net margin7.5%10.8%12.9%10.2%9.5%10.0%10.3%9.6%11.5%9.3%8.8%11.1%0.7%3.2%3.8%3.0%5.5%-3.8%
Diluted EPS$2.17$3.52$4.81$4.39$5.18$6.69$7.25$6.79$8.09$7.82$9.16$15.53$1.17$5.44$6.21$5.06$9.89-$6.83
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

FY2009FY2010FY2011 †FY2012FY2013FY2014FY2015FY2016 †FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow65.667.872.895.3100.014116915413616317825356.3200265249270234
Capital expenditure17.013.619.666.010115274.249.933.055.593.214014890.664.176.354.649.1
Free cash flow48.654.253.229.3-0.7-10.694.510410310885.0113-91.6109201173216185
Free cash flow margin11.7%11.7%10.4%5.1%-0.1%-1.2%9.8%11.5%11.9%10.8%6.8%6.5%-4.5%5.2%10.0%8.6%11.0%9.7%
Cash from investing-17.0-13.6-19.6-67.3-103n/an/a-46.0-32.9-55.3-259-139-147-88.5-62.4-96.3-54.5-49.0
Cash from financing-2.2-60.8-52.7-3.0-21.6n/an/a-111-128-65.38.912.3-6.62.8-84.8-239-204-128
Depreciation and amortisation16.917.418.820.225.935.142.949.651.352.056.365.772.181.488.194.090.486.2
Share-based compensation4.13.16.26.57.36.96.76.16.310.012.315.318.614.017.019.021.822.5
Buybacks7.168.062.818.029.67.913616514588.3n/an/an/an/a92.9239202125
Diluted shares, weighted14m14m14m13m14m13m14m13m12m12m12m12m12m12m12m12m11m10m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2009FY2010FY2011 †FY2012FY2013FY2014FY2015FY2016 †FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity1731661852453024364614474244607369579831,0691,078916846736
Debtn/an/an/a0.60.60.50.50.4n/an/an/a0.00.00.00.00.00.00.0
Operating lease liabilitiesn/an/an/an/an/an/an/an/an/an/a53.959.253.845.336.230.225.121.7
Finance lease liabilitiesn/an/an/an/an/an/an/an/an/an/an/a2.61.50.51.50.90.0n/a
Other liabilitiesn/a92.987.7114141168184169146180264360348306314303322482
Total liabilities and equityn/a2592723594446056456165706401,0541,3791,3871,4211,4301,2501,1941,239
Owned
Fixed assetsn/a143144190267382410408384390541623665668643616578543
Goodwilln/a1.41.42.53.73.73.73.73.73.7113113113113113113113113
Intangible assetsn/an/an/an/an/an/an/an/an/a2.110410410476.359.616.414.813.5
Cash and equivalents55.549.049.574.549.576.494.291.065.610836.716326.9181298212223308
Receivablesn/a20.023.231.542.036.939.036.733.734.154.478.455.056.767.061.457.183.0
Inventoryn/a26.634.144.456.451.356.552.550.770.210613114914811611792.598.1
Other assetsn/a18.720.816.725.955.342.223.631.631.699.116727517813411411581.5
Total assetsn/a2592723594446056456165706401,0541,3791,3871,4211,4301,2501,1941,239
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded7.4%2.5%-2.0%-3.7%
Profit growth, compounded1.0%-10.8%17.3%n/a
Return on equity, average13.2%6.8%8.8%12.8%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Boston Beer's revenue in fiscal 2025?

Boston Beer (SAM) reported revenue of $2.0 billion for fiscal 2025, the year ended 27 December 2025, down 2.4% on the year before.

How much did Boston Beer earn in fiscal 2025?

Net income was $108 million for fiscal 2025, and diluted earnings per share $9.89.

What is Boston Beer's market cap?

The market cap of Boston Beer was $2.0 billion at the close of 27 October 2026.

How much debt does Boston Beer have?

At 26 September 2026 Boston Beer carried $0 million of debt and $308 million of cash.

Peers: Beer & Liquor

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Coca-Cola Co. KO$392.3 billion27.3839.6%29.6%6.5%1.202.3%
PepsiCo Inc. PEP$181.9 billion16.7748.9%15.3%6.4%2.334.3%
Anheuser-Busch InBev SA/NV BUD *$164.3 billion24.017.8%26.0%-0.7%0.842.8%
Diageo plc DEO *$51.7 billion29.8616.0%11.4%-0.7%1.983.6%
Keurig Dr Pepper Inc. KDP$47.4 billion35.205.7%16.2%27.5%1.202.6%
Ambev S.A. ABEV *$45.3 billion14.6617.6%26.4%-1.4%0.04n/a
Constellation Brands, Inc. STZ$22.3 billion11.7222.4%30.2%-4.3%1.203.1%
Brown Forman Corp. BF.B$13.5 billion18.4018.2%25.4%-0.8%0.613.2%
Molson Coors Beverage Co. TAP$7.4 billionn/a-22.8%-19.5%-2.6%0.764.8%
Primo Brands Corp. PRMB$7.0 billion73.853.4%7.2%11.5%1.732.3%
Vita Coco Company, Inc. COCO$3.1 billion27.5128.1%19.9%26.0%0.00n/a
Boston Beer Co. Inc. SAM$2.0 billionn/a-9.9%-5.1%-3.7%0.00n/a
2 companies share its SEC industry code (Malt Beverages); the rest are the names nearest in size in its wider industry, Beer & Liquor, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q26 September 202622 October 2026EDGAR
10-Q27 June 202623 July 2026EDGAR
10-Q28 March 202630 April 2026EDGAR
10-K27 December 202524 February 2026EDGAR
10-Q27 September 202523 October 2025EDGAR
10-Q28 June 202524 July 2025EDGAR
10-Q29 March 202524 April 2025EDGAR
10-K28 December 202425 February 2025EDGAR
10-Q28 September 202424 October 2024EDGAR
10-Q29 June 202425 July 2024EDGAR