Income Statement The Boston Beer Company, Inc.

Equities

SAM

US1005571070

Brewers

Market Closed - Nyse Other stock markets 16:00:02 2026-02-11 EST			5-day change	1st Jan Change
250.83 ^USD	+1.34%		+6.44%	+28.55%

02-10	Boston Beer CMO Lesya Lysyj Steps Down	MT
02-10	The Boston Beer Company, Inc. Announces Stepping Down of Lesya Lysyj as Chief Marketing Officer, Effective March 6, 2026	CI

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Published financial data: THE BOSTON BEER COMPANY, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	1.74B	2.06B	2.09B	2.01B	2.01B
Total Revenues	1.74B	2.06B	2.09B	2.01B	2.01B
Cost of Goods Sold, Total	914M	1.26B	1.23B	1.16B	1.12B
Gross Profit	823M	798M	862M	852M	894M
Selling General & Admin Expenses, Total	566M	741M	736M	731M	742M
Other Operating Expenses, Total	566M	741M	736M	731M	742M
Operating Income	257M	57.17M	126M	122M	152M
Interest Expense, Total	-199K	-110K	-	-	-
Interest And Investment Income	-	-	2.56M	11M	13.25M
Net Interest Expenses	-199K	-110K	2.56M	11M	13.25M
Other Non Operating Income (Expenses)	222K	-978K	-1.92M	-1.41M	-1.62M
EBT, Excl. Unusual Items	257M	56.09M	127M	131M	163M
Merger & Related Restructuring Charges	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Asset Writedown	-4.47M	-18.5M	-29.88M	-21.82M	-49.77M
Other Unusual Items	-8.2M	-30.68M	-5.38M	-	-26.05M
EBT, Incl. Unusual Items	244M	6.91M	91.44M	110M	87.6M
Income Tax Expense	52.27M	-7.64M	24.17M	33.34M	27.91M
Earnings From Continuing Operations	192M	14.55M	67.26M	76.25M	59.7M
Net Income to Company	192M	14.55M	67.26M	76.25M	59.7M
Net Income - (IS)	192M	14.55M	67.26M	76.25M	59.7M
Preferred Dividend and Other Adjustments	1.16M	52K	158K	154K	140K
Net Income to Common Incl Extra Items	191M	14.5M	67.1M	76.1M	59.56M
Net Income to Common Excl. Extra Items	191M	14.5M	67.1M	76.1M	59.56M
Per Share Items
Net EPS - Basic	15.73	1.19	5.46	6.23	5.07
Basic EPS - Continuing Operations	15.73	1.19	5.46	6.23	5.07
Basic Weighted Average Shares Outstanding	12.13M	12.24M	12.29M	12.22M	11.75M
Net EPS - Diluted	15.53	1.17	5.44	6.21	5.06
Diluted EPS - Continuing Operations	15.53	1.17	5.44	6.21	5.06
Diluted Weighted Average Shares Outstanding	12.28M	12.44M	12.34M	12.26M	11.77M
Normalized Basic EPS	13.24	2.86	6.44	6.72	8.7
Normalized Diluted EPS	13.07	2.82	6.41	6.7	8.68
Supplemental Items
EBITDA	323M	129M	207M	210M	246M
EBITA	257M	57.43M	126M	122M	152M
EBIT	257M	57.17M	126M	122M	152M
EBITDAR	334M	141M	218M	219M	256M
Total Revenues (As Reported)	1.74B	2.06B	2.09B	2.01B	2.01B
Effective Tax Rate - (Ratio)	21.4	-110.64	26.44	30.42	31.86
Current Domestic Taxes	34.57M	-2.4M	15.14M	44.21M	47.85M
Total Current Taxes	34.57M	-2.4M	15.14M	44.21M	47.85M
Deferred Domestic Taxes	17.7M	-5.25M	9.04M	-10.87M	-19.94M
Total Deferred Taxes	17.7M	-5.25M	9.04M	-10.87M	-19.94M
Normalized Net Income	161M	35.05M	79.19M	82.13M	102M
Interest on Long-Term Debt	143K	121K	71K	138K	222K
Non-Cash Pension Expense	2.9M	-	-	-	-
Supplemental Operating Expense Items
Advertising Expense	211M	291M	227M	234M	241M
Selling and Marketing Expenses	448M	607M	578M	556M	552M
General and Administrative Expenses	118M	134M	158M	175M	190M
Net Rental Expense, Total	11.41M	11.42M	10.68M	8.94M	9.98M
Imputed Operating Lease Interest Expense	273K	148K	-	-	-
Imputed Operating Lease Depreciation	11.13M	11.27M	-	-	-
Stock-Based Comp., S&M Exp. (Total)	4.47M	5.61M	5.18M	6.6M	7.12M
Stock-Based Comp., G&A Exp. (Total)	10.82M	13M	8.8M	10.37M	11.84M
Total Stock-Based Compensation	15.28M	18.62M	13.99M	16.97M	18.95M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	163M	26.85M	181M	298M	212M
Total Cash And Short Term Investments	163M	26.85M	181M	298M	212M
Accounts Receivable, Total	78.36M	55.02M	56.67M	67M	61.42M
Other Receivables	10.39M	53.42M	10.13M	1.71M	6.68M
Total Receivables	88.75M	108M	66.8M	68.71M	68.1M
Inventory	131M	149M	148M	116M	117M
Prepaid Expenses	19.69M	19.46M	23.68M	15.88M	17.29M
Deferred Tax Assets Current	-	-	-	-	-
Restricted Cash	-	39.47M	-	-	-
Other Current Assets, Total	10.54M	2M	3.78M	4.66M	2.92M
Total Current Assets	413M	345M	423M	504M	417M
Gross Property Plant And Equipment	1.12B	1.21B	1.28B	1.33B	1.36B
Accumulated Depreciation	-439M	-494M	-568M	-648M	-719M
Net Property Plant And Equipment	682M	718M	712M	678M	644M
Goodwill	113M	113M	113M	113M	113M
Other Intangibles, Total	104M	104M	76.32M	59.64M	16.45M
Loans Receivable Long-Term	-	-	-	-	16.74M
Other Long-Term Assets, Total	67.63M	108M	96.97M	76.24M	42.94M
Total Assets	1.38B	1.39B	1.42B	1.43B	1.25B
Liabilities
Accounts Payable, Total	122M	85.92M	84.25M	87.24M	87.28M
Accrued Expenses, Total	81.3M	66.94M	59.49M	68.4M	70.66M
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	9.68M	9.23M	9.8M	10.37M	7.64M
Current Income Taxes Payable	10.13M	7.34M	7.23M	6.76M	7.44M
Unearned Revenue Current, Total	13.52M	8.05M	6.84M	8.9M	11.3M
Other Current Liabilities	23.14M	77.62M	36.66M	41.62M	47.31M
Total Current Liabilities	259M	255M	204M	223M	232M
Long-Term Debt	-	-	-	-	-
Long-Term Leases	61.8M	55.31M	45.8M	37.61M	31.14M
Deferred Tax Liability Non Current	92.66M	87.5M	96.59M	85.72M	65.8M
Other Non Current Liabilities	7.97M	5.47M	5.57M	5.44M	5.26M
Total Liabilities	422M	403M	352M	352M	334M
Common Stock, Total	122K	123K	123K	121K	114K
Additional Paid In Capital	600M	612M	630M	656M	676M
Retained Earnings	357M	372M	439M	422M	240M
Comprehensive Income and Other	-252K	-194K	-210K	-57K	-696K
Total Common Equity	957M	983M	1.07B	1.08B	916M
Total Equity	957M	983M	1.07B	1.08B	916M
Total Liabilities And Equity	1.38B	1.39B	1.42B	1.43B	1.25B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	12.15M	12.2M	12.19M	11.91M	11.08M
ECS Total Common Shares Outstanding	12.07M	12.16M	12.21M	11.99M	11.17M
Book Value / Share	79.3	80.85	87.48	89.93	82.05
Tangible Book Value	741M	767M	880M	906M	787M
Tangible Book Value Per Share	61.36	63.08	72.02	75.56	70.5
Total Debt	71.49M	64.54M	55.6M	47.98M	38.78M
Net Debt	-91.8M	37.69M	-125M	-251M	-173M
Debt Equivalent of Unfunded Proj. Benefit Obligation	-	-	-	-	-
Debt Equivalent Oper. Leases	91.26M	91.32M	85.44M	71.56M	79.85M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	69.27M	78.54M	81.22M	55.12M	48.32M
Inventories - Work In Process, Total	16.85M	17.76M	20.37M	18.75M	18.88M
Inventories - Finished Goods, Total	44.79M	52.81M	46.85M	41.91M	49.96M
Land - (BS)	25.75M	25.67M	25.78M	25.75M	25.98M
Buildings, Total	174M	208M	238M	247M	257M
Machinery, Total	673M	759M	798M	818M	875M
Full Time Employees	2.42K	2.54K	2.68K	2.79K	2.54K
Accumulated Allowance for Doubtful Accounts (Supple)	535K	353K	418K	427K	47K

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	192M	14.55M	67.26M	76.25M	59.7M
Depreciation & Amortization - CF	65.4M	71.84M	81.1M	96.23M	103M
Amortization of Goodwill and Intangible Assets - (CF)	253K	253K	253K	253K	613K
Depreciation & Amortization, Total	65.66M	72.1M	81.36M	96.48M	103M
(Gain) Loss From Sale Of Asset	-639K	-217K	-237K	-	-
Asset Writedown & Restructuring Costs	4.47M	18.5M	29.88M	21.82M	49.77M
Stock-Based Compensation (CF)	15.28M	18.62M	13.99M	16.97M	18.95M
Tax Benefit from Stock Options	-	-	-	-	-
Provision and Write-off of Bad Debts	488K	-182K	-	-	-
Other Operating Activities, Total	25.01M	2.79M	17.4M	-11.31M	-21.85M
Change In Accounts Receivable	-24.01M	23.07M	-2.04M	-10.34M	5.55M
Change In Inventories	-24.46M	-21.22M	131K	31.5M	6.91M
Change In Accounts Payable	40.77M	-27.36M	-2.22M	2.76M	2.6M
Change in Other Net Operating Assets	-41.11M	-44.35M	-5.57M	41.01M	23.86M
Cash from Operations	253M	56.3M	200M	265M	249M
Capital Expenditure	-140M	-148M	-90.58M	-64.09M	-76.28M
Sale of Property, Plant, and Equipment	487K	1.16M	2.08M	1.71M	23K
Cash Acquisitions	-	-	-	-	-
Sale (Purchase) of Intangible assets	-	-	-	-	-
Other Investing Activities, Total	392K	145K	-	-	-20M
Cash from Investing	-139M	-147M	-88.51M	-62.38M	-96.25M
Short Term Debt Issued, Total	100M	-	30M	-	-
Total Debt Issued	100M	-	30M	-	-
Short Term Debt Repaid, Total	-100M	-	-30M	-	-
Long-Term Debt Repaid, Total	-1.26M	-1.57M	-1.67M	-1.58M	-1.89M
Total Debt Repaid	-101M	-1.57M	-31.67M	-1.58M	-1.89M
Issuance of Common Stock	15.27M	10.46M	7.95M	11.72M	3.6M
Repurchase of Common Stock	-1.69M	-15.54M	-3.47M	-94.99M	-241M
Other Financing Activities, Total	-	-	-	-	-
Cash from Financing	12.32M	-6.64M	2.8M	-84.84M	-239M
Net Change in Cash	127M	-96.96M	114M	118M	-86.67M
Supplemental Items
Cash Interest Paid	246K	-	-	-	-
Cash Income Tax Paid (Refund)	35.97M	41.22M	-28.14M	35.73M	52.03M
Levered Free Cash Flow	108M	-94M	108M	182M	152M
Unlevered Free Cash Flow	108M	-93.94M	108M	182M	152M
Change In Net Working Capital	-6.89M	72.46M	-24.37M	-56.14M	-10.62M
Net Debt Issued / Repaid	-1.26M	-1.57M	-1.67M	-1.58M	-1.89M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	13.2	2.58	5.61	5.34	7.08
Return on Total Capital	17.59	3.44	7.25	6.77	9.12
Return On Equity %	22.68	1.5	6.56	7.1	5.99
Return on Common Equity	22.54	1.49	6.54	7.09	5.97
Margin Analysis
Gross Profit Margin %	47.38	38.77	41.24	42.44	44.4
SG&A Margin	32.58	35.99	35.21	36.37	36.86
EBITDA Margin %	18.57	6.28	9.92	10.45	12.21
EBITA Margin %	14.81	2.79	6.04	6.08	7.57
EBIT Margin %	14.79	2.78	6.03	6.06	7.54
Income From Continuing Operations Margin %	11.05	0.71	3.22	3.8	2.97
Net Income Margin %	11.05	0.71	3.22	3.8	2.97
Net Avail. For Common Margin %	10.99	0.7	3.21	3.79	2.96
Normalized Net Income Margin	9.25	1.7	3.79	4.09	5.07
Levered Free Cash Flow Margin	6.23	-4.57	5.16	9.04	7.53
Unlevered Free Cash Flow Margin	6.24	-4.57	5.16	9.04	7.53
Asset Turnover
Asset Turnover	1.43	1.49	1.49	1.41	1.5
Fixed Assets Turnover	2.72	2.94	2.93	2.89	3.04
Receivables Turnover (Average Receivables)	26.16	30.85	37.43	32.48	31.35
Inventory Turnover (Average Inventory)	7.71	9	8.26	8.75	9.61
Short Term Liquidity
Current Ratio	1.59	1.35	2.07	2.25	1.8
Quick Ratio	0.97	0.53	1.21	1.64	1.21
Operating Cash Flow to Current Liabilities	0.98	0.22	0.98	1.19	1.07
Days Sales Outstanding (Average Receivables)	13.91	11.8	9.91	11.21	11.61
Days Outstanding Inventory (Average Inventory)	47.19	40.45	44.94	41.59	37.88
Average Days Payable Outstanding	38.4	29.56	25.71	27.78	28.34
Cash Conversion Cycle (Average Days)	22.71	22.69	29.14	25.02	21.14
Long Term Solvency
Total Debt/Equity	7.47	6.56	5.2	4.45	4.23
Total Debt / Total Capital	6.95	6.16	4.95	4.26	4.06
LT Debt/Equity	6.46	5.62	4.29	3.49	3.4
Long-Term Debt / Total Capital	6.01	5.28	4.07	3.34	3.26
Total Liabilities / Total Assets	30.6	29.09	24.79	24.62	26.71
EBIT / Interest Expense	1.29K	519.76	-	-	-
EBITDA / Interest Expense	1.68K	1.28K	-	-	-
(EBITDA - Capex) / Interest Expense	974.58	-65.76	-	-	-
Total Debt / EBITDA	0.21	0.46	0.25	0.22	0.15
Net Debt / EBITDA	-0.27	0.27	-0.57	-1.14	-0.68
Total Debt / (EBITDA - Capex)	0.37	-8.92	0.44	0.31	0.22
Net Debt / (EBITDA - Capex)	-0.47	-5.21	-0.98	-1.62	-0.96
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	38.93	18.5	1.59	-3.91	0.21
Gross Profit, 1 Yr. Growth %	33.95	-2.05	8.05	-1.12	4.85
EBITDA, 1 Yr. Growth %	53.66	-58.87	60.45	1.23	17.06
EBITA, 1 Yr. Growth %	67.37	-76.93	119.94	-3.35	24.85
EBIT, 1 Yr. Growth %	67.21	-77.01	120.47	-3.36	24.6
Earnings From Cont. Operations, 1 Yr. Growth %	74.44	-92.42	362.19	13.36	-21.71
Net Income, 1 Yr. Growth %	74.44	-92.42	362.19	13.36	-21.71
Normalized Net Income, 1 Yr. Growth %	67.82	-77.45	125.9	3.72	24.36
Diluted EPS Before Extra, 1 Yr. Growth %	69.58	-92.47	364.51	14.2	-18.46
Accounts Receivable, 1 Yr. Growth %	44.03	-29.78	3	18.22	-8.32
Inventory, 1 Yr. Growth %	23.46	13.91	-0.45	-22.01	1.2
Net Property, Plant and Equip., 1 Yr. Growth %	14.58	5.29	-0.82	-4.72	-5.01
Total Assets, 1 Yr. Growth %	30.81	0.58	2.45	0.65	-12.59
Tangible Book Value, 1 Yr. Growth %	42.73	3.6	14.66	2.96	-13.09
Common Equity, 1 Yr. Growth %	30.09	2.76	8.66	0.88	-15
Cash From Operations, 1 Yr. Growth %	42.17	-77.78	255.16	32.61	-6.13
Capital Expenditures, 1 Yr. Growth %	50.16	5.66	-38.76	-29.25	19.02
Levered Free Cash Flow, 1 Yr. Growth %	61.56	-191.15	-214.8	54.08	-16.55
Unlevered Free Cash Flow, 1 Yr. Growth %	61.75	-190.98	-214.88	54.08	-16.55
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	32.06	28.31	9.72	-1.2	-1.87
Gross Profit, 2 Yr. CAGR %	26.73	13.97	2.88	3.36	1.82
EBITDA, 2 Yr. CAGR %	38.35	-20.02	-18.77	27.45	8.86
EBITA, 2 Yr. CAGR %	48.54	-37.27	-28.77	45.8	9.96
EBIT, 2 Yr. CAGR %	48.47	-37.38	-28.8	45.97	9.74
Earnings From Cont. Operations, 2 Yr. CAGR %	43.93	-63.63	-40.81	128.9	-5.79
Net Income, 2 Yr. CAGR %	43.93	-63.63	-40.81	128.9	-5.79
Normalized Net Income, 2 Yr. CAGR %	48.22	-37.87	-28.62	53.07	13.57
Diluted EPS Before Extra, 2 Yr. CAGR %	40.91	-64.26	-40.85	130.32	-3.5
Accounts Receivable, 2 Yr. CAGR %	51.65	0.57	-14.96	10.35	4.11
Inventory, 2 Yr. CAGR %	36.51	18.59	6.49	-11.89	-11.16
Net Property, Plant and Equip., 2 Yr. CAGR %	32.23	9.84	2.19	-2.79	-4.87
Total Assets, 2 Yr. CAGR %	46.8	14.7	1.51	1.55	-6.2
Tangible Book Value, 2 Yr. CAGR %	27.64	21.6	8.99	8.66	-5.4
Common Equity, 2 Yr. CAGR %	44.18	15.62	5.67	4.7	-7.4
Cash From Operations, 2 Yr. CAGR %	24.51	-43.8	-11.17	117.02	11.57
Capital Expenditures, 2 Yr. CAGR %	58.88	25.96	-19.56	-34.18	-8.24
Levered Free Cash Flow, 2 Yr. CAGR %	18.1	23.01	2.29	47.3	13.39
Unlevered Free Cash Flow, 2 Yr. CAGR %	18.16	22.96	2.23	47.36	13.39
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	26.25	27.38	18.7	4.97	-0.73
Gross Profit, 3 Yr. CAGR %	22.28	15.91	11.96	1.53	3.86
EBITDA, 3 Yr. CAGR %	23.95	-8.46	0.87	-12.58	23.89
EBITA, 3 Yr. CAGR %	29.6	-21.01	-4.7	-21.14	38.45
EBIT, 3 Yr. CAGR %	29.56	-21.13	-4.74	-21.17	38.47
Earnings From Cont. Operations, 3 Yr. CAGR %	24.68	-46.05	-15.13	-26.49	60.08
Net Income, 3 Yr. CAGR %	24.68	-46.05	-15.13	-26.49	60.08
Normalized Net Income, 3 Yr. CAGR %	29.39	-21.72	-4.46	-19.16	42.83
Diluted EPS Before Extra, 3 Yr. CAGR %	24.3	-46.92	-15.97	-26.34	62.93
Accounts Receivable, 3 Yr. CAGR %	32.42	17.32	1.37	-5.09	3.74
Inventory, 3 Yr. CAGR %	37.23	28.52	11.87	-4.01	-7.73
Net Property, Plant and Equip., 3 Yr. CAGR %	21.05	22.56	6.16	-0.17	-3.54
Total Assets, 3 Yr. CAGR %	34.27	29.41	10.46	1.22	-3.4
Tangible Book Value, 3 Yr. CAGR %	21.02	19.06	19.24	6.94	0.86
Common Equity, 3 Yr. CAGR %	31.22	28.79	13.25	4.05	-2.33
Cash From Operations, 3 Yr. CAGR %	23.06	-29.9	3.9	1.52	64.13
Capital Expenditures, 3 Yr. CAGR %	61.9	38.68	-0.96	-22.93	-19.81
Levered Free Cash Flow, 3 Yr. CAGR %	3.1	6.59	20.21	20.77	21.88
Unlevered Free Cash Flow, 3 Yr. CAGR %	3.13	6.57	20.21	20.72	21.91
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	12.59	17.82	19.36	15.07	10
Gross Profit, 5 Yr. CAGR %	10.4	11.66	13.89	10.72	7.79
EBITDA, 5 Yr. CAGR %	10.1	-7.12	4.13	4.5	3.99
EBITA, 5 Yr. CAGR %	10.45	-16.01	1.35	0.93	0.87
EBIT, 5 Yr. CAGR %	10.43	-16.09	1.31	0.89	0.81
Earnings From Cont. Operations, 5 Yr. CAGR %	14.3	-30.12	-7.45	-3.82	-11.51
Net Income, 5 Yr. CAGR %	14.3	-30.12	-7.45	-3.82	-11.51
Normalized Net Income, 5 Yr. CAGR %	10.59	-16.34	1.33	2.36	2.38
Diluted EPS Before Extra, 5 Yr. CAGR %	16.48	-29.65	-7.64	-4.52	-11.19
Accounts Receivable, 5 Yr. CAGR %	14.98	8.44	10.92	14.48	2.46
Inventory, 5 Yr. CAGR %	18.32	23.22	23.99	10.51	2.01
Net Property, Plant and Equip., 5 Yr. CAGR %	10.7	11.93	13.12	11.71	1.6
Total Assets, 5 Yr. CAGR %	16.4	17.62	20.06	17.45	3.47
Tangible Book Value, 5 Yr. CAGR %	10.11	11.72	16.06	14.79	8.7
Common Equity, 5 Yr. CAGR %	15.72	17.1	20.33	18.55	4.49
Cash From Operations, 5 Yr. CAGR %	8.48	-18.25	8.02	10.16	6.91
Capital Expenditures, 5 Yr. CAGR %	13.54	24.27	22.39	2.93	-3.94
Levered Free Cash Flow, 5 Yr. CAGR %	7.42	-2.86	1.78	18.54	19.53
Unlevered Free Cash Flow, 5 Yr. CAGR %	7.45	-2.88	1.78	18.54	19.53