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Stocks · Consumer staples · Malt Beverages

BOSTON BEER CO INC

SAM Clue Score64
United States Fiscal year ends December CIK 0000949870
$170.51 -0.39% Close, 9 Oct 2026
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Price $170.51 −68.21% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue906.4Operating income137.7Net income87.3EPS, diluted6.79Fiscal year 2017Revenue863.0 −4.8%Operating income115.7Net income99.0 +13.4%EPS, diluted8.09 +19.1%Fiscal year 2018Revenue995.6 +15.4%Operating income115.9Net income92.7 −6.4%EPS, diluted7.82 −3.3%Fiscal year 2019Revenue1,249.8 +25.5%Operating income144.9Net income110.0 +18.8%EPS, diluted9.16 +17.1%Fiscal year 2020Revenue1,736.4 +38.9%Operating income244.2Net income192.0 +74.4%EPS, diluted15.53 +69.5%Fiscal year 2021Revenue2,057.6 +18.5%Operating income8.0Net income14.6 −92.4%EPS, diluted1.17 −92.5%Fiscal year 2022Revenue2,090.3 +1.6%Operating income90.8Net income67.3 +362.2%EPS, diluted5.44 +365.0%Fiscal year 2023Revenue2,008.6 −3.9%Operating income100.0Net income76.3 +13.4%EPS, diluted6.21 +14.2%Fiscal year 2024Revenue2,012.9 +0.2%Operating income76.0Net income59.7 −21.7%EPS, diluted5.06 −18.5%Fiscal year 2025Revenue1,965.0 −2.4%Operating income144.9Net income108.5 +81.7%EPS, diluted9.89 +95.5%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 906.4 863.0 995.6 1,249.8 1,736.4 2,057.6 2,090.3 2,008.6 2,012.9 1,965.0
Growth −4.8% +15.4% +25.5% +38.9% +18.5% +1.6% −3.9% +0.2% −2.4%
Operating income 137.7 115.7 115.9 144.9 244.2 8.0 90.8 100.0 76.0 144.9
Net income 87.3 99.0 92.7 110.0 192.0 14.6 67.3 76.3 59.7 108.5
Growth +13.4% −6.4% +18.8% +74.4% −92.4% +362.2% +13.4% −21.7% +81.7%
EPS, diluted 6.79 8.09 7.82 9.16 15.53 1.17 5.44 6.21 5.06 9.89
Growth +19.1% −3.3% +17.1% +69.5% −92.5% +365.0% +14.2% −18.5% +95.5%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin50.7%Operating margin15.2%Net margin9.6%Free cash flow margin11.5%Fiscal year 2017Gross margin52.1%Operating margin13.4%Net margin11.5%Free cash flow margin11.9%Fiscal year 2018Gross margin51.4%Operating margin11.6%Net margin9.3%Free cash flow margin10.8%Fiscal year 2019Gross margin49.1%Operating margin11.6%Net margin8.8%Free cash flow margin6.8%Fiscal year 2020Gross margin46.9%Operating margin14.1%Net margin11.1%Free cash flow margin6.5%Fiscal year 2021Gross margin38.8%Operating margin0.4%Net margin0.7%Free cash flow margin−4.5%Fiscal year 2022Gross margin41.2%Operating margin4.3%Net margin3.2%Free cash flow margin5.2%Fiscal year 2023Gross margin42.4%Operating margin5.0%Net margin3.8%Free cash flow margin10.0%Fiscal year 2024Gross margin44.4%Operating margin3.8%Net margin3.0%Free cash flow margin8.6%Fiscal year 2025Gross margin48.5%Operating margin7.4%Net margin5.5%Free cash flow margin11.0%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 50.7% 52.1% 51.4% 49.1% 46.9% 38.8% 41.2% 42.4% 44.4% 48.5%
Operating margin 15.2% 13.4% 11.6% 11.6% 14.1% 0.4% 4.3% 5.0% 3.8% 7.4%
Net margin 9.6% 11.5% 9.3% 8.8% 11.1% 0.7% 3.2% 3.8% 3.0% 5.5%
Free cash flow margin 11.5% 11.9% 10.8% 6.8% 6.5% −4.5% 5.2% 10.0% 8.6% 11.0%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow154.2Capital expenditure−49.9Free cash flow104.3Buybacks−164.7Fiscal year 2017Operating cash flow136.0Capital expenditure−33.0Free cash flow103.0 −1.2%Buybacks−144.6Fiscal year 2018Operating cash flow163.4Capital expenditure−55.5Free cash flow108.0 +4.8%Buybacks−88.3Fiscal year 2019Operating cash flow178.2Capital expenditure−93.2Free cash flow85.0 −21.3%Fiscal year 2020Operating cash flow253.4Capital expenditure−140.0Free cash flow113.4 +33.4%Fiscal year 2021Operating cash flow56.3Capital expenditure−147.9Free cash flow−91.6 −180.8%Fiscal year 2022Operating cash flow199.9Capital expenditure−90.6Free cash flow109.4Fiscal year 2023Operating cash flow265.2Capital expenditure−64.1Free cash flow201.1 +83.9%Buybacks−92.9Fiscal year 2024Operating cash flow248.9Capital expenditure−76.3Free cash flow172.6 −14.1%Buybacks−238.6Fiscal year 2025Operating cash flow270.2Capital expenditure−54.6Free cash flow215.6 +24.9%Buybacks−202.4
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 154.2 136.0 163.4 178.2 253.4 56.3 199.9 265.2 248.9 270.2
Capital expenditure −49.9 −33.0 −55.5 −93.2 −140.0 −147.9 −90.6 −64.1 −76.3 −54.6
Free cash flow 104.3 103.0 108.0 85.0 113.4 −91.6 109.4 201.1 172.6 215.6
Growth −1.2% +4.8% −21.3% +33.4% −180.8% +83.9% −14.1% +24.9%
Buybacks −164.7 −144.6 −88.3 n/a n/a n/a n/a −92.9 −238.6 −202.4

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2016Cash91.0Shareholders’ equity446.6Fiscal year 2017Cash65.6Shareholders’ equity423.5Fiscal year 2018Cash108.4Shareholders’ equity460.3Fiscal year 2019Cash36.7Shareholders’ equity735.6Fiscal year 2020Cash163.3Shareholders’ equity957.0Fiscal year 2021Cash26.9Shareholders’ equity983.4Fiscal year 2022Cash180.6Shareholders’ equity1,068.5Fiscal year 2023Cash298.5Shareholders’ equity1,077.9Fiscal year 2024Cash211.8Shareholders’ equity916.2Fiscal year 2025Cash223.4Shareholders’ equity846.3
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 91.0 65.6 108.4 36.7 163.3 26.9 180.6 298.5 211.8 223.4
Shareholders’ equity 446.6 423.5 460.3 735.6 957.0 983.4 1,068.5 1,077.9 916.2 846.3

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 30 Dec 2017 FY2018 29 Dec 2018 FY2019 28 Dec 2019 FY2020 26 Dec 2020 FY2021 25 Dec 2021 FY2022 31 Dec 2022 FY2023 30 Dec 2023 FY2024 28 Dec 2024 FY2025 27 Dec 2025
Margins
50.7% 52.1% 51.4% 49.1% 46.9% 38.8% 41.2% 42.4% 44.4% 48.5%
15.2% 13.4% 11.6% 11.6% 14.1% 0.4% 4.3% 5.0% 3.8% 7.4%
15.1% 13.5% 11.7% 11.6% 14.1% 0.3% 4.4% 5.5% 4.4% 7.8%
9.6% 11.5% 9.3% 8.8% 11.1% 0.7% 3.2% 3.8% 3.0% 5.5%
11.5% 11.9% 10.8% 6.8% 6.5% −4.5% 5.2% 10.0% 8.6% 11.0%
Spending
8.6% 8.5% 9.1% 9.0% 6.8% 6.5% 7.5% 8.7% 9.4% 9.7%
5.5% 3.8% 5.6% 7.5% 8.1% 7.2% 4.3% 3.2% 3.8% 2.8%
36.3% 14.7% 20.3% 23.8% 21.4% −110.6% 26.4% 30.4% 31.9% 29.3%
Returns
19.6% 23.4% 20.1% 15.0% 20.1% 1.5% 6.3% 7.1% 6.5% 12.8%
14.2% 17.4% 14.5% 10.4% 13.9% 1.0% 4.7% 5.3% 4.8% 9.1%
Balance and payout
27.5% 25.6% 28.1% 30.2% 30.6% 29.1% 24.8% 24.6% 26.7% 29.1%
157.9% 140.4% 81.8% n/a n/a n/a n/a 46.2% 138.2% 93.9%