SAM FY 2025 Earnings Report — The Boston Beer Company, Inc. Revenue & Financial Results | Market Cap Arena

The Boston Beer Company, Inc.SAM

FY 2025 Earnings

Reported February 24, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$2.1B	—	$2.0B	—	3.7%
Op. Income	$145M	—	$76M	—	90.7%
Gross Margin	45.6%	—	44.4%	—	1.2pp
Net Margin	5.2%	—	3.0%	—	2.2pp
EPS (Diluted)	$9.89	—	$5.06	—	95.5%
Free Cash Flow	$216M	—	$173M	—	24.9%

Revenue Flow

Item	Amount
REVENUE	$2.1B
Cost of Revenue	$1.1B
GROSS PROFIT	$953M
R&D Expenses	$0
Selling & Marketing	$610M
General & Administrative	$191M
SG&A Expenses	$801M
Other Expenses	$7M
Operating Expenses	$808M
Cost & Expenses	$1.9B
OPERATING INCOME	$145M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$9M
INCOME BEFORE TAX	$153M
Income Tax Expense	$45M
Net Income from Continuing Ops	$108M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$108M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$108M
D&A	$90M
EBIT	$153M
EBITDA	$244M
EPS	$10
EPS Diluted	$10

Income Statement

Item	Amount
REVENUE	$2.1B
Cost of Revenue	$1.1B
GROSS PROFIT	$953M
R&D Expenses	$0
Selling & Marketing	$610M
General & Administrative	$191M
SG&A Expenses	$801M
Other Expenses	$7M
Operating Expenses	$808M
Cost & Expenses	$1.9B
OPERATING INCOME	$145M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$9M
INCOME BEFORE TAX	$153M
Income Tax Expense	$45M
Net Income from Continuing Ops	$108M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$108M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$108M
D&A	$90M
EBIT	$153M
EBITDA	$244M
EPS	$10
EPS Diluted	$10

Cash Flow Statement

Item	Amount
Net Income	$108M
Depreciation & Amortization	$94M
Stock-Based Compensation	$22M
Deferred Income Tax	-$1M
Other Non-Cash Items	-$62.0K
Change in Working Capital	$47M
OPERATING CASH FLOW	$270M
Capital Expenditure	-$55M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$3M
Other Investing Activities	-$2M
NET CASH FROM INVESTING	-$55M
Net Debt Issuance	-$2M
Common Stock Repurchased	-$205M
Common Dividends Paid	$0
Other Financing Activities	$3M
NET CASH FROM FINANCING	-$204M
FREE CASH FLOW	$216M
Net Change in Cash	$12M

Balance Sheet

Item	Amount
Cash & Equivalents	$223M
Short-Term Investments	$0
Net Receivables	$57M
Inventory	$93M
Other Current Assets	$45M
TOTAL CURRENT ASSETS	$418M
PP&E (Net)	$608M
Goodwill	$113M
Intangible Assets	$15M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$40M
TOTAL NON-CURRENT ASSETS	$776M
TOTAL ASSETS	$1.2B
Account Payables	$95M
Short-Term Debt	$13M
Deferred Revenue	$0
Other Current Liabilities	$145M
TOTAL CURRENT LIABILITIES	$253M
Long-Term Debt	$25M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$65M
Other Non-Current Liabilities	$5M
TOTAL NON-CURRENT LIABILITIES	$95M
TOTAL LIABILITIES	$347M
Common Stock	$105.0K
Additional Paid-In Capital	$0
Retained Earnings	$148M
Treasury Stock	$0
Accum. Other Comp. Income	-$380.0K
Other Equity	$699M
TOTAL STOCKHOLDERS' EQUITY	$846M
Minority Interest	$0
TOTAL EQUITY	$846M
TOTAL LIABILITIES & EQUITY	$1.2B
Total Debt	$38M
Net Debt	-$186M