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The Boston Beer Company, Inc.

The Boston Beer Company, Inc.

NYSE•SAM
CEO: Mr. C. James Koch
Sector: Consumer Defensive
Industry: Beverages - Alcoholic
Listing Date: 1995-11-21
The Boston Beer Company, Inc. produces and sells alcohol beverages primarily in the United States. The company's flagship beer is Samuel Adams Boston Lager. It offers various beers, hard ciders, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names. The company markets and sells its products to a network wholesaler in the United States, as well as wholesalers, importers, or other agencies that in turn sell to retailers, such as grocery stores, club stores, convenience stores, liquor stores, bars, restaurants, stadiums, and other e-commerce retail outlets. It sells its products in Canada, Europe, Israel, Australia, New Zealand, the Caribbean, the Pacific Rim, Mexico, and Central and South America. The Boston Beer Company, Inc. was founded in 1984 and is based in Boston, Massachusetts.
Contact Information
One Design Center Place, Suite 850, Boston, MA, 02210, United States
617-368-5000
www.bostonbeer.com
Market Cap
$2.21B
P/E (TTM)
23.3
22
Dividend Yield
--
52W High
$323.98
52W Low
$185.34
52W Range
9%
6.2
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Strong • 6.2 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$537.49M-11.23%
4-Quarter Trend

EPS

$4.25+48.08%
4-Quarter Trend

FCF

$89.24M-10.04%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Strong Net Income Growth Net income reached $131.00M for 39 weeks, showing substantial 33.1% increase compared to prior period results.
Gross Margin Expansion Gross profit margin improved significantly to 49.7% for 39 weeks, driven by COGS savings per barrel achieved.
Operating Income Rises Operating income grew to $177.90M for 39 weeks, marking a 34.8% increase year-over-year comparison.
Increased Cash Balances Cash and cash equivalents increased to $250.45M by period end, reflecting strong operating cash flow generation.

Risk Factors

Shipment Volume Declines Total shipment volume fell 13.7% to 1,936K barrels for the quarter, driven by major brand softness.
Unfavorable Tariff Cost Exposure Estimated 2025 tariff costs range from $9M to $13M, potentially impacting gross margin by 40 to 60 basis points.
Future Production Shortfall Fees Anticipates recognizing $31M in future shortfall fees, with $14M expected to be expensed in remainder of 2025.
Intangible Asset Amortization Begins Dogfish Head trademark shifted from indefinite to 10-year amortization, impacting future asset valuation assessments.

Outlook

Sufficient Liquidity Confirmed Cash balance of $250.5M plus $150.0M unused credit line expected to fund future cash requirements adequately.
New CEO Leadership Jim Koch assumed CEO role in August 2025, forgoing salary and bonus, signaling leadership transition completion.
Third-Party Production Extended City Brewing agreements extended through 2028, retaining capacity commitment, subject to volume shortfall risk.

Peer Comparison

Revenue (TTM)

United Natural Foods, Inc.UNFI
$31.78B
+2.6%
Flowers Foods, Inc.FLO
$5.13B
+0.3%
The Chefs' Warehouse, Inc.CHEF
$4.04B
+8.9%

Gross Margin (Latest Quarter)

The Boston Beer Company, Inc.SAM
50.8%
+4.5 pp
Compañía Cervecerías Unidas S.A.CCU
42.5%
-0.8 pp
Freshpet, Inc.FRPT
39.5%
-0.8 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
FRPT$2.61B21.111.3%28.3%
COCO$2.49B36.023.9%3.0%
FLO$2.41B12.413.7%54.7%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
+7.8%
Steady Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 27, 2025|Filed: Oct 23, 2025|
    Revenue: $537.49M-11.2%
    |
    EPS: $4.25+48.1%
    Beat
  • Form 10-Q - Q2 2025

    Period End: Jun 28, 2025|Filed: Jul 24, 2025|
    Revenue: $587.95M+1.5%
    |
    EPS: $5.45+23.9%
    Beat
  • Form 10-Q - Q1 2025

    Period End: Mar 29, 2025|Filed: Apr 24, 2025|
    Revenue: $453.87M+6.5%
    |
    EPS: $2.16+105.7%
    Beat
  • Form 10-K - FY 2024

    Period End: Dec 28, 2024|Filed: Feb 25, 2025|
    Revenue: $2.01B+0.2%
    |
    EPS: $5.07-18.6%
    Beat
  • Form 10-Q - Q3 2024

    Period End: Sep 28, 2024|Filed: Oct 24, 2024|
    Revenue: $605.48M+0.6%
    |
    EPS: $2.87-22.4%
    Miss
  • Form 10-Q - Q2 2024

    Period End: Jun 29, 2024|Filed: Jul 25, 2024|
    Revenue: $579.10M-4.0%
    |
    EPS: $4.40-7.0%
    Miss
  • Form 10-Q - Q1 2024

    Period End: Mar 30, 2024|Filed: Apr 25, 2024|
    Revenue: $426.05M+3.9%
    |
    EPS: $1.05-243.8%
    Beat
  • Form 10-K - FY 2023

    Period End: Dec 30, 2023|Filed: Feb 27, 2024|
    Revenue: $2.01B-3.9%
    |
    EPS: $6.23+14.1%
    Beat