SAM (The Boston Beer Company, Inc.) Stock Financials & Earnings | Market Cap Arena

SAM (The Boston Beer Company, Inc.) Stock Financials & Earnings | Market Cap Arena

SAMThe Boston Beer Company, Inc.

Mkt Cap$3B

Consumer Defensive·Beverages - Alcoholic·🇺🇸 United States·NYSE

Revenue (TTM)$2.1B

Net Income (TTM)$108M

EPS (TTM)$9.74

Free Cash Flow (TTM)$216M

Gross Margin45.6%

Op. Margin6.9%

Net Margin5.2%

FCF Margin10.3%

P/S Ratio (TTM)1.2x

P/E Ratio (TTM)23.3x

YoY Rev Growth+3.7%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$410M	$156M	-$14M
Q2 23	$603M	$274M	$78M
Q3 23	$602M	$275M	$62M
Q4 23	$394M	$148M	-$26M
Q1 24	$426M	$186M	$15M
Q2 24	$579M	$266M	$71M
Q3 24	$605M	$280M	$46M
Q4 24	$402M	$161M	-$56M
Q1 25	$454M	$219M	$34M
Q2 25	$588M	$293M	$82M
Q3 25	$537M	$273M	$63M
Q4 25	$508M	$168M	-$34M

Valuation

Quarter	P/S	P/E
Q1 23	1.2x	42.0x
Q2 23	1.2x	39.0x
Q3 23	1.2x	30.5x
Q4 23	1.3x	33.2x
Q1 24	1.3x	25.9x
Q2 24	1.3x	27.5x
Q3 24	1.3x	31.5x
Q4 24	1.3x	42.4x
Q1 25	1.2x	35.4x
Q2 25	1.2x	31.8x
Q3 25	1.3x	27.4x
Q4 25	1.2x	23.3x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	-$18M	-$35M
Q2 23	$119M	$101M
Q3 23	$131M	$117M
Q4 23	$33M	$17M
Q1 24	-$5M	-$21M
Q2 24	$96M	$76M
Q3 24	$116M	$99M
Q4 24	$42M	$18M
Q1 25	$2M	-$8M
Q2 25	$127M	$112M
Q3 25	$102M	$89M
Q4 25	$40M	$22M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$17M
Q2 23	$17M
Q3 23	$14M
Q4 23	$15M
Q1 24	$16M
Q2 24	$20M
Q3 24	$17M
Q4 24	$24M
Q1 25	$10M
Q2 25	$14M
Q3 25	$13M
Q4 25	$18M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	-4.7%	-1.9%
Q2 23	-2.1%	-3.7%
Q3 23	+0.9%	-3.2%
Q4 23	-12.0%	-9.6%
Q1 24	+3.9%	-3.1%
Q2 24	-4.0%	-3.2%
Q3 24	+0.6%	+3.6%
Q4 24	+2.2%	+9.2%
Q1 25	+6.5%	+2.3%
Q2 25	+1.5%	-0.5%
Q3 25	-11.2%	-15.3%
Q4 25	+26.3%	+18.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$4M	1.0%
Q2 23	$4M	0.7%
Q3 23	$4M	0.7%
Q4 23	$5M	1.2%
Q1 24	$7M	1.7%
Q2 24	$4M	0.7%
Q3 24	$4M	0.6%
Q4 24	$4M	1.1%
Q1 25	$6M	1.3%
Q2 25	$0	0.0%
Q3 25	$3M	0.6%
Q4 25	$12M	2.4%

OpEx Breakdown

Quarter	G&A	S&M
Q1 23	$44M	$125M
Q2 23	$45M	$149M
Q3 23	$42M	$153M
Q4 23	$44M	$129M
Q1 24	$50M	$120M
Q2 24	$48M	$144M
Q3 24	$44M	$148M
Q4 24	$48M	$140M
Q1 25	$48M	$138M
Q2 25	$46M	$160M
Q3 25	$45M	$165M
Q4 25	$52M	$148M

Revenue Segments

Quarter	Operating Segments
Q2 25	$588M
Q3 25	$537M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$123M	$0	$123M
Q2 23	$208M	$0	$208M
Q3 23	$311M	$0	$311M
Q4 23	$298M	$0	$298M
Q1 24	$205M	$0	$205M
Q2 24	$219M	$0	$219M
Q3 24	$256M	$0	$256M
Q4 24	$212M	$0	$212M
Q1 25	$152M	$0	$152M
Q2 25	$212M	$0	$212M
Q3 25	$250M	$0	$250M
Q4 25	$223M	$0	$223M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	12M	-0.2%
Q2 23	12M	-0.3%
Q3 23	12M	-0.4%
Q4 23	12M	-0.5%
Q1 24	12M	-0.9%
Q2 24	12M	-1.3%
Q3 24	12M	-1.8%
Q4 24	11M	-1.9%
Q1 25	11M	-1.6%
Q2 25	11M	-1.9%
Q3 25	11M	-2.1%
Q4 25	11M	-2.2%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$682K	1K
FY 15	$672K	1K
FY 16	$602K	2K
FY 17	$600K	1K
FY 18	$645K	2K
FY 19	$587K	2K
FY 20	$717K	2K
FY 21	$809K	3K
FY 22	$4M	500
FY 23	$4M	475
FY 24	$4M	475
FY 25	$4M	550