SAMNYSEMalt BeveragesFiscal year ends December 27
BOSTON BEER CO INC
Financials through Q2 FY2026, quarter ended Jun 27, 2026Last filing: 10-Q on Jul 23, 2026
$181.82+1.00 (+0.55%)
Close on Oct 19, 2026
- Market cap
- $1.88B
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
48.5%+1.6 pts over 5 years
Operating margin
7.4%−6.7 pts over 5 years
Net margin
5.5%−5.5 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -2.4% | -2.0% | +2.5% | +7.4% | |
| Gross profit | +6.6% | +3.4% | +3.2% | +6.6% | |
| Operating income | +90.7% | +16.9% | -9.9% | -0.7% | |
| Net income | +81.7% | +17.3% | -10.8% | +1.0% | |
| EPS, diluted | +95.5% | +22.0% | -8.6% | +3.2% | |
| Free cash flow | +24.9% | +25.4% | +13.7% | +8.6% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 19.2% | 22.7% | 12.3% | |
| Return on assets | 13.9% | 15.8% | 8.9% | |
| Current ratio | 1.91 | 1.59 | 1.65 | |
| Inventory turnover | 8.2× | 7.8× | 9.7× | |
| Capex to revenue | 5.5% | 8.1% | 2.8% | |
| Diluted shares | 13M | 12M | 11M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Boston Beer generated $1.04B from operations and spent $967.34M on capital expenditure, dividends and share buybacks. 45% of that went back into the business.
Generated
$1.04B
Used
$967.34M
Capital expenditure$433.43M45%Dividends$00%Share buybacks$533.92M55%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin5.5%
×Asset turnover1.61×
×Equity multiplier1.39×
=Return on equity, FY202512.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 5.5% | 1.61× | 1.39× | 12.3% |
| FY2024 | 3.0% | 1.50× | 1.34× | 6.0% |
| FY2023 | 3.8% | 1.41× | 1.33× | 7.1% |
| FY2022 | 3.2% | 1.49× | 1.37× | 6.6% |
| FY2021 | 0.7% | 1.49× | 1.43× | 1.5% |
| FY2020 | 11.1% | 1.43× | 1.44× | 22.7% |
| FY2019 | 8.8% | 1.48× | 1.42× | 18.4% |
| FY2018 | 9.3% | 1.65× | 1.37× | 21.0% |
| FY2017 | 11.5% | 1.46× | 1.36× | 22.8% |
| FY2016 | 9.6% | 1.44× | 1.39× | 19.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$108.47M
- Cash generatingOperating cash flow above zero$270.16M
- Return on assets improvedROA up on the prior year4.2% → 8.7%
- Earnings backed by cashOperating cash flow above net income$270.16M vs $108.47M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.80 → 1.65
- No dilutionShare count did not rise12M → 11M
- Gross margin improvedGross margin up on the prior year44.40% → 48.48%
- More efficientAsset turnover rose1.41 → 1.57