Cash flow The Boston Beer Company, Inc.

Equities

SAM

US1005571070

Brewers

Market Closed - Nyse Other stock markets 16:00:02 2026-04-13 EDT			5-day change	1st Jan Change
243.13 ^USD	-5.47%		-1.51%	+24.60%

04-10	Boston Beer Moves for Post-Trial Motions in Ardagh Contract Dispute	MT
04-10	Boston Beer Co Inc - Jury verdict orders Boston Beer to pay $175.5 million in damages to Ardagh - SEC filing	RE

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Published financial data: THE BOSTON BEER COMPANY, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	2.06B	2.09B	2.01B	2.01B	1.96B
Total Revenues	2.06B	2.09B	2.01B	2.01B	1.96B
Cost of Goods Sold, Total	1.26B	1.23B	1.16B	1.12B	1.01B
Gross Profit	798M	862M	852M	894M	953M
Selling General & Admin Expenses, Total	741M	736M	731M	742M	801M
Other Operating Expenses, Total	741M	736M	731M	742M	801M
Operating Income	57.17M	126M	122M	152M	152M
Interest Expense, Total	-110K	-	-	-	-
Interest And Investment Income	-	2.56M	11M	13.25M	9.94M
Net Interest Expenses	-110K	2.56M	11M	13.25M	9.94M
Other Non Operating Income (Expenses)	-978K	-1.92M	-1.41M	-1.62M	-1.36M
EBT, Excl. Unusual Items	56.09M	127M	131M	163M	160M
Merger & Related Restructuring Charges	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Asset Writedown	-18.5M	-29.88M	-21.82M	-49.77M	-6.96M
Other Unusual Items	-30.68M	-5.38M	-	-26.05M	-
EBT, Incl. Unusual Items	6.91M	91.44M	110M	87.6M	153M
Income Tax Expense	-7.64M	24.17M	33.34M	27.91M	44.99M
Earnings From Continuing Operations	14.55M	67.26M	76.25M	59.7M	108M
Net Income to Company	14.55M	67.26M	76.25M	59.7M	108M
Net Income - (IS)	14.55M	67.26M	76.25M	59.7M	108M
Preferred Dividend and Other Adjustments	52K	158K	154K	140K	300K
Net Income to Common Incl Extra Items	14.5M	67.1M	76.1M	59.56M	108M
Net Income to Common Excl. Extra Items	14.5M	67.1M	76.1M	59.56M	108M
Per Share Items
Net EPS - Basic	1.19	5.46	6.23	5.07	9.9
Basic EPS - Continuing Operations	1.19	5.46	6.23	5.07	9.9
Basic Weighted Average Shares Outstanding	12.24M	12.29M	12.22M	11.75M	10.93M
Net EPS - Diluted	1.17	5.44	6.21	5.06	9.89
Diluted EPS - Continuing Operations	1.17	5.44	6.21	5.06	9.89
Diluted Weighted Average Shares Outstanding	12.44M	12.34M	12.26M	11.77M	10.94M
Normalized Basic EPS	2.86	6.44	6.72	8.7	9.17
Normalized Diluted EPS	2.82	6.41	6.7	8.68	9.17
Supplemental Items
EBITDA	129M	207M	210M	246M	242M
EBITA	57.43M	126M	122M	152M	154M
EBIT	57.17M	126M	122M	152M	152M
EBITDAR	141M	218M	219M	256M	255M
Total Revenues (As Reported)	2.06B	2.09B	2.01B	2.01B	1.96B
Effective Tax Rate - (Ratio)	-110.64	26.44	30.42	31.86	29.32
Current Domestic Taxes	-2.4M	15.14M	44.21M	47.85M	45.51M
Current Foreign Taxes	-	-	-	-	635K
Total Current Taxes	-2.4M	15.14M	44.21M	47.85M	46.14M
Deferred Domestic Taxes	-5.25M	9.04M	-10.87M	-19.94M	-1.15M
Total Deferred Taxes	-5.25M	9.04M	-10.87M	-19.94M	-1.15M
Normalized Net Income	35.05M	79.19M	82.13M	102M	100M
Interest on Long-Term Debt	121K	71K	138K	222K	122K
Non-Cash Pension Expense	-	-	-	-	-
Supplemental Operating Expense Items
Advertising Expense	291M	227M	234M	241M	286M
Selling and Marketing Expenses	607M	578M	556M	552M	610M
General and Administrative Expenses	134M	158M	175M	190M	191M
Net Rental Expense, Total	11.42M	10.68M	8.94M	9.98M	12.35M
Imputed Operating Lease Interest Expense	148K	-	-	-	-
Imputed Operating Lease Depreciation	11.27M	-	-	-	-
Stock-Based Comp., S&M Exp. (Total)	5.61M	5.18M	6.6M	7.12M	7.36M
Stock-Based Comp., G&A Exp. (Total)	13M	8.8M	10.37M	11.84M	14.4M
Total Stock-Based Compensation	18.62M	13.99M	16.97M	18.95M	21.75M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	26.85M	181M	298M	212M	223M
Total Cash And Short Term Investments	26.85M	181M	298M	212M	223M
Accounts Receivable, Total	55.02M	56.67M	67M	61.42M	57.09M
Other Receivables	53.42M	10.13M	1.71M	6.68M	24.26M
Total Receivables	108M	66.8M	68.71M	68.1M	81.35M
Inventory	149M	148M	116M	117M	92.53M
Prepaid Expenses	19.46M	23.68M	15.88M	17.29M	17.5M
Deferred Tax Assets Current	-	-	-	-	-
Restricted Cash	39.47M	-	-	-	-
Other Current Assets, Total	2M	3.78M	4.66M	2.92M	2.82M
Total Current Assets	345M	423M	504M	417M	418M
Gross Property Plant And Equipment	1.21B	1.28B	1.33B	1.36B	1.39B
Accumulated Depreciation	-494M	-568M	-648M	-719M	-784M
Net Property Plant And Equipment	718M	712M	678M	644M	608M
Goodwill	113M	113M	113M	113M	113M
Other Intangibles, Total	104M	76.32M	59.64M	16.45M	14.75M
Loans Receivable Long-Term	-	-	-	16.74M	11.22M
Other Long-Term Assets, Total	108M	96.97M	76.24M	42.94M	29.16M
Total Assets	1.39B	1.42B	1.43B	1.25B	1.19B
Liabilities
Accounts Payable, Total	85.92M	84.25M	87.24M	87.28M	94.98M
Accrued Expenses, Total	66.94M	59.49M	68.4M	70.66M	74.57M
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	9.23M	9.8M	10.37M	7.64M	13.86M
Current Income Taxes Payable	7.34M	7.23M	6.76M	7.44M	6.25M
Unearned Revenue Current, Total	8.05M	6.84M	8.9M	11.3M	13.34M
Other Current Liabilities	77.62M	36.66M	41.62M	47.31M	49.53M
Total Current Liabilities	255M	204M	223M	232M	253M
Long-Term Debt	-	-	-	-	-
Long-Term Leases	55.31M	45.8M	37.61M	31.14M	25.12M
Deferred Tax Liability Non Current	87.5M	96.59M	85.72M	65.8M	64.78M
Other Non Current Liabilities	5.47M	5.57M	5.44M	5.26M	4.88M
Total Liabilities	403M	352M	352M	334M	347M
Common Stock, Total	123K	123K	121K	114K	105K
Additional Paid In Capital	612M	630M	656M	676M	699M
Retained Earnings	372M	439M	422M	240M	148M
Comprehensive Income and Other	-194K	-210K	-57K	-696K	-380K
Total Common Equity	983M	1.07B	1.08B	916M	846M
Total Equity	983M	1.07B	1.08B	916M	846M
Total Liabilities And Equity	1.39B	1.42B	1.43B	1.25B	1.19B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	12.2M	12.19M	11.91M	11.08M	10.22M
ECS Total Common Shares Outstanding	12.16M	12.21M	11.99M	11.17M	10.25M
Book Value / Share	80.85	87.48	89.93	82.05	82.59
Tangible Book Value	767M	880M	906M	787M	719M
Tangible Book Value Per Share	63.08	72.02	75.56	70.5	70.17
Total Debt	64.54M	55.6M	47.98M	38.78M	38.98M
Net Debt	37.69M	-125M	-251M	-173M	-184M
Debt Equivalent of Unfunded Proj. Benefit Obligation	-	-	-	-	-
Debt Equivalent Oper. Leases	91.32M	85.44M	71.56M	79.85M	98.82M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	78.54M	81.22M	55.12M	48.32M	37.4M
Inventories - Work In Process, Total	17.76M	20.37M	18.75M	18.88M	20.37M
Inventories - Finished Goods, Total	52.81M	46.85M	41.91M	49.96M	34.77M
Land - (BS)	25.67M	25.78M	25.75M	25.98M	31M
Buildings, Total	208M	238M	247M	257M	276M
Machinery, Total	759M	798M	818M	875M	882M
Full Time Employees	2.54K	2.68K	2.79K	2.54K	2.74K
Accumulated Allowance for Doubtful Accounts (Supple)	353K	418K	427K	47K	9K

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	14.55M	67.26M	76.25M	59.7M	108M
Depreciation & Amortization - CF	71.84M	81.1M	96.23M	103M	101M
Amortization of Goodwill and Intangible Assets - (CF)	253K	253K	253K	613K	1.7M
Depreciation & Amortization, Total	72.1M	81.36M	96.48M	103M	103M
(Gain) Loss From Sale Of Asset	-217K	-237K	-	-	-
Asset Writedown & Restructuring Costs	18.5M	29.88M	21.82M	49.77M	6.96M
Stock-Based Compensation (CF)	18.62M	13.99M	16.97M	18.95M	21.75M
Tax Benefit from Stock Options	-	-	-	-	-
Provision and Write-off of Bad Debts	-182K	-	-	-	-
Other Operating Activities, Total	2.79M	17.4M	-11.31M	-21.85M	-16.6M
Change In Accounts Receivable	23.07M	-2.04M	-10.34M	5.55M	4.35M
Change In Inventories	-21.22M	131K	31.5M	6.91M	23.4M
Change In Accounts Payable	-27.36M	-2.22M	2.76M	2.6M	5.23M
Change in Other Net Operating Assets	-44.35M	-5.57M	41.01M	23.86M	14.04M
Cash from Operations	56.3M	200M	265M	249M	270M
Capital Expenditure	-148M	-90.58M	-64.09M	-76.28M	-54.56M
Sale of Property, Plant, and Equipment	1.16M	2.08M	1.71M	23K	47K
Cash Acquisitions	-	-	-	-	-
Sale (Purchase) of Intangible assets	-	-	-	-	-
Other Investing Activities, Total	145K	-	-	-20M	-
Cash from Investing	-147M	-88.51M	-62.38M	-96.25M	-54.52M
Short Term Debt Issued, Total	-	30M	-	-	-
Total Debt Issued	-	30M	-	-	-
Short Term Debt Repaid, Total	-	-30M	-	-	-
Long-Term Debt Repaid, Total	-1.57M	-1.67M	-1.58M	-1.89M	-1.73M
Total Debt Repaid	-1.57M	-31.67M	-1.58M	-1.89M	-1.73M
Issuance of Common Stock	10.46M	7.95M	11.72M	3.6M	2.51M
Repurchase of Common Stock	-15.54M	-3.47M	-94.99M	-241M	-205M
Other Financing Activities, Total	-	-	-	-	-
Cash from Financing	-6.64M	2.8M	-84.84M	-239M	-204M
Net Change in Cash	-96.96M	114M	118M	-86.67M	11.56M
Supplemental Items
Cash Interest Paid	-	-	-	-	-
Cash Income Tax Paid (Refund)	41.22M	-28.14M	35.73M	52.03M	63.42M
Levered Free Cash Flow	-94M	108M	182M	152M	191M
Unlevered Free Cash Flow	-93.94M	108M	182M	152M	191M
Change In Net Working Capital	72.46M	-24.37M	-56.14M	-10.62M	-25.95M
Net Debt Issued / Repaid	-1.57M	-1.67M	-1.58M	-1.89M	-1.73M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	2.58	5.61	5.34	7.08	7.77
Return on Total Capital	3.44	7.25	6.77	9.12	10.31
Return On Equity %	1.5	6.56	7.1	5.99	12.31
Return on Common Equity	1.49	6.54	7.09	5.97	12.27
Margin Analysis
Gross Profit Margin %	38.77	41.24	42.44	44.4	48.48
SG&A Margin	35.99	35.21	36.37	36.86	40.75
EBITDA Margin %	6.28	9.92	10.45	12.21	12.33
EBITA Margin %	2.79	6.04	6.08	7.57	7.81
EBIT Margin %	2.78	6.03	6.06	7.54	7.73
Income From Continuing Operations Margin %	0.71	3.22	3.8	2.97	5.52
Net Income Margin %	0.71	3.22	3.8	2.97	5.52
Net Avail. For Common Margin %	0.7	3.21	3.79	2.96	5.5
Normalized Net Income Margin	1.7	3.79	4.09	5.07	5.1
Levered Free Cash Flow Margin	-4.57	5.16	9.04	7.53	9.7
Unlevered Free Cash Flow Margin	-4.57	5.16	9.04	7.53	9.7
Asset Turnover
Asset Turnover	1.49	1.49	1.41	1.5	1.61
Fixed Assets Turnover	2.94	2.93	2.89	3.04	3.14
Receivables Turnover (Average Receivables)	30.85	37.43	32.48	31.35	33.16
Inventory Turnover (Average Inventory)	9	8.26	8.75	9.61	9.66
Short Term Liquidity
Current Ratio	1.35	2.07	2.25	1.8	1.65
Quick Ratio	0.53	1.21	1.64	1.21	1.21
Operating Cash Flow to Current Liabilities	0.22	0.98	1.19	1.07	1.07
Days Sales Outstanding (Average Receivables)	11.8	9.91	11.21	11.61	10.98
Days Outstanding Inventory (Average Inventory)	40.45	44.94	41.59	37.88	37.7
Average Days Payable Outstanding	29.56	25.71	27.78	28.34	33.58
Cash Conversion Cycle (Average Days)	22.69	29.14	25.02	21.14	15.09
Long Term Solvency
Total Debt/Equity	6.56	5.2	4.45	4.23	4.61
Total Debt / Total Capital	6.16	4.95	4.26	4.06	4.4
LT Debt/Equity	5.62	4.29	3.49	3.4	2.97
Long-Term Debt / Total Capital	5.28	4.07	3.34	3.26	2.84
Total Liabilities / Total Assets	29.09	24.79	24.62	26.71	29.1
EBIT / Interest Expense	519.76	-	-	-	-
EBITDA / Interest Expense	1.28K	-	-	-	-
(EBITDA - Capex) / Interest Expense	-65.76	-	-	-	-
Total Debt / EBITDA	0.46	0.25	0.22	0.15	0.15
Net Debt / EBITDA	0.27	-0.57	-1.14	-0.68	-0.72
Total Debt / (EBITDA - Capex)	-8.92	0.44	0.31	0.22	0.19
Net Debt / (EBITDA - Capex)	-5.21	-0.98	-1.62	-0.96	-0.92
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	18.5	1.59	-3.91	0.21	-2.38
Gross Profit, 1 Yr. Growth %	-2.05	8.05	-1.12	4.85	6.58
EBITDA, 1 Yr. Growth %	-58.87	60.45	1.23	17.06	-1.43
EBITA, 1 Yr. Growth %	-76.93	119.94	-3.35	24.85	0.75
EBIT, 1 Yr. Growth %	-77.01	120.47	-3.36	24.6	0.03
Earnings From Cont. Operations, 1 Yr. Growth %	-92.42	362.19	13.36	-21.71	81.71
Net Income, 1 Yr. Growth %	-92.42	362.19	13.36	-21.71	81.71
Normalized Net Income, 1 Yr. Growth %	-77.45	125.9	3.72	24.36	-1.84
Diluted EPS Before Extra, 1 Yr. Growth %	-92.47	364.51	14.2	-18.46	95.4
Accounts Receivable, 1 Yr. Growth %	-29.78	3	18.22	-8.32	-7.05
Inventory, 1 Yr. Growth %	13.91	-0.45	-22.01	1.2	-21.02
Net Property, Plant and Equip., 1 Yr. Growth %	5.29	-0.82	-4.72	-5.01	-5.55
Total Assets, 1 Yr. Growth %	0.58	2.45	0.65	-12.59	-4.51
Tangible Book Value, 1 Yr. Growth %	3.6	14.66	2.96	-13.09	-8.67
Common Equity, 1 Yr. Growth %	2.76	8.66	0.88	-15	-7.63
Cash From Operations, 1 Yr. Growth %	-77.78	255.16	32.61	-6.13	8.54
Capital Expenditures, 1 Yr. Growth %	5.66	-38.76	-29.25	19.02	-28.47
Levered Free Cash Flow, 1 Yr. Growth %	-191.15	-214.8	54.08	-16.55	25.74
Unlevered Free Cash Flow, 1 Yr. Growth %	-190.98	-214.88	54.08	-16.55	25.74
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	28.31	9.72	-1.2	-1.87	-1.09
Gross Profit, 2 Yr. CAGR %	13.97	2.88	3.36	1.82	5.72
EBITDA, 2 Yr. CAGR %	-20.02	-18.77	27.45	8.86	7.42
EBITA, 2 Yr. CAGR %	-37.27	-28.77	45.8	9.96	12.26
EBIT, 2 Yr. CAGR %	-37.38	-28.8	45.97	9.74	11.64
Earnings From Cont. Operations, 2 Yr. CAGR %	-63.63	-40.81	128.9	-5.79	19.27
Net Income, 2 Yr. CAGR %	-63.63	-40.81	128.9	-5.79	19.27
Normalized Net Income, 2 Yr. CAGR %	-37.87	-28.62	53.07	13.57	10.49
Diluted EPS Before Extra, 2 Yr. CAGR %	-64.26	-40.85	130.32	-3.5	26.22
Accounts Receivable, 2 Yr. CAGR %	0.57	-14.96	10.35	4.11	-7.69
Inventory, 2 Yr. CAGR %	18.59	6.49	-11.89	-11.16	-10.6
Net Property, Plant and Equip., 2 Yr. CAGR %	9.84	2.19	-2.79	-4.87	-5.28
Total Assets, 2 Yr. CAGR %	14.7	1.51	1.55	-6.2	-8.64
Tangible Book Value, 2 Yr. CAGR %	21.6	8.99	8.66	-5.4	-10.9
Common Equity, 2 Yr. CAGR %	15.62	5.67	4.7	-7.4	-11.39
Cash From Operations, 2 Yr. CAGR %	-43.8	-11.17	117.02	11.57	0.94
Capital Expenditures, 2 Yr. CAGR %	25.96	-19.56	-34.18	-8.24	-7.73
Levered Free Cash Flow, 2 Yr. CAGR %	23.01	2.29	47.3	13.39	2.44
Unlevered Free Cash Flow, 2 Yr. CAGR %	22.96	2.23	47.36	13.39	2.44
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	27.38	18.7	4.97	-0.73	-2.04
Gross Profit, 3 Yr. CAGR %	15.91	11.96	1.53	3.86	3.39
EBITDA, 3 Yr. CAGR %	-8.46	0.87	-12.58	23.89	5.32
EBITA, 3 Yr. CAGR %	-21.01	-4.7	-21.14	38.45	6.8
EBIT, 3 Yr. CAGR %	-21.13	-4.74	-21.17	38.47	6.4
Earnings From Cont. Operations, 3 Yr. CAGR %	-46.05	-15.13	-26.49	60.08	17.27
Net Income, 3 Yr. CAGR %	-46.05	-15.13	-26.49	60.08	17.27
Normalized Net Income, 3 Yr. CAGR %	-21.72	-4.46	-19.16	42.83	8.18
Diluted EPS Before Extra, 3 Yr. CAGR %	-46.92	-15.97	-26.34	62.93	22.08
Accounts Receivable, 3 Yr. CAGR %	17.32	1.37	-5.09	3.74	0.25
Inventory, 3 Yr. CAGR %	28.52	11.87	-4.01	-7.73	-14.58
Net Property, Plant and Equip., 3 Yr. CAGR %	22.56	6.16	-0.17	-3.54	-5.09
Total Assets, 3 Yr. CAGR %	29.41	10.46	1.22	-3.4	-5.64
Tangible Book Value, 3 Yr. CAGR %	19.06	19.24	6.94	0.86	-6.5
Common Equity, 3 Yr. CAGR %	28.79	13.25	4.05	-2.33	-7.48
Cash From Operations, 3 Yr. CAGR %	-29.9	3.9	1.52	64.13	10.55
Capital Expenditures, 3 Yr. CAGR %	38.68	-0.96	-22.93	-19.81	-15.55
Levered Free Cash Flow, 3 Yr. CAGR %	6.59	20.21	20.77	21.88	17.37
Unlevered Free Cash Flow, 3 Yr. CAGR %	6.57	20.21	20.72	21.91	17.37
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	17.82	19.36	15.07	10	2.5
Gross Profit, 5 Yr. CAGR %	11.66	13.89	10.72	7.79	3.18
EBITDA, 5 Yr. CAGR %	-7.12	4.13	4.5	3.99	-5.07
EBITA, 5 Yr. CAGR %	-16.01	1.35	0.93	0.87	-9.21
EBIT, 5 Yr. CAGR %	-16.09	1.31	0.89	0.81	-9.4
Earnings From Cont. Operations, 5 Yr. CAGR %	-30.12	-7.45	-3.82	-11.51	-10.79
Net Income, 5 Yr. CAGR %	-30.12	-7.45	-3.82	-11.51	-10.79
Normalized Net Income, 5 Yr. CAGR %	-16.34	1.33	2.36	2.38	-8.4
Diluted EPS Before Extra, 5 Yr. CAGR %	-29.65	-7.64	-4.52	-11.19	-8.63
Accounts Receivable, 5 Yr. CAGR %	8.44	10.92	14.48	2.46	-6.14
Inventory, 5 Yr. CAGR %	23.22	23.99	10.51	2.01	-6.7
Net Property, Plant and Equip., 5 Yr. CAGR %	11.93	13.12	11.71	1.6	-2.25
Total Assets, 5 Yr. CAGR %	17.62	20.06	17.45	3.47	-2.84
Tangible Book Value, 5 Yr. CAGR %	11.72	16.06	14.79	8.7	-0.59
Common Equity, 5 Yr. CAGR %	17.1	20.33	18.55	4.49	-2.43
Cash From Operations, 5 Yr. CAGR %	-18.25	8.02	10.16	6.91	1.29
Capital Expenditures, 5 Yr. CAGR %	24.27	22.39	2.93	-3.94	-17.18
Levered Free Cash Flow, 5 Yr. CAGR %	-2.86	1.78	18.54	19.53	13.07
Unlevered Free Cash Flow, 5 Yr. CAGR %	-2.88	1.78	18.54	19.53	13.04