The Boston Beer Company, Inc. is an American alcoholic beverage company that produces and sells craft beer, hard cider, hard seltzer, and flavored malt beverages. Headquartered in Boston, Massachusetts, the company is best known for its flagship Samuel Adams brand. It operates primarily in the United States, distributing its products through a network of wholesalers to retail and hospitality outlets.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
1,964,994
2,012,926
2,008,625
2,090,334
Cost of Sales
1,012,414
1,119,194
1,156,256
1,228,348
Gross Profit
952,580
893,732
852,369
861,986
Advertising, Promotional & Selling Expenses
609,953
552,033
555,998
578,400
General & Administrative Expenses
190,790
189,906
174,548
157,534
Impairment of Intangible Assets
—
42,584
16,426
27,100
Impairment of Brewery Assets
6,955
7,184
5,396
2,782
Contract Settlement & Termination Costs
—
26,052
—
5,379
Operating Profit
144,882
75,973
100,001
90,791
Interest Income, net
9,939
13,249
10,995
2,561
Other Expense, net
(1,361)
(1,620)
(1,408)
(1,916)
Total Other Income, net
8,578
11,629
9,587
645
Income Before Provision for Income Taxes
153,460
87,602
109,588
91,436
Provision for Income Taxes
44,991
27,907
33,338
24,173
Consolidated Net Income
108,469
59,695
76,250
67,263
Basic EPS
9.90
5.07
6.23
5.46
Diluted EPS
9.89
5.06
6.21
5.44
Basic Weighted Average Shares Outstanding
10,960
11,774
12,243
12,317
Diluted Weighted Average Shares Outstanding
10,937
11,766
12,258
12,345
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
223,378
211,819
298,491
180,560
Total Cash and Cash Equivalents
223,378
211,819
298,491
180,560
Accounts Receivable
57,094
61,423
66,997
56,672
Other Receivables
24,259
6,681
1,711
10,126
Total Trade Receivables
81,353
68,104
68,708
66,798
Inventories
92,532
117,159
115,773
148,450
Other Current Assets
20,316
20,209
20,538
27,461
Total Current Assets
417,579
417,291
503,510
423,269
Net Property, Plant & Equipment
608,354
644,079
678,068
711,677
Net Intangible Assets
14,753
16,446
59,644
76,324
Goodwill
112,529
112,529
112,529
112,529
Long-Term Investments
11,218
16,738
—
—
Other Long-Term Assets
29,162
42,935
76,242
96,974
Total Assets
1,193,595
1,250,018
1,429,993
1,420,773
Accounts Payable
94,975
87,276
87,245
84,248
Accrued Expenses
144,797
138,618
126,930
111,153
Current Portion of Leases
12,762
5,735
9,113
8,866
Total Current Liabilities
252,534
231,629
223,288
204,267
Leases
25,111
30,205
36,161
45,274
Other Long-Term Liabilities
69,670
71,997
92,615
102,683
Total Long-Term Liabilities
94,781
102,202
128,776
147,957
Total Liabilities
347,315
333,831
352,064
352,224
Common Stock
105
114
121
123
Additional Paid-in Capital
698,811
676,454
656,297
629,515
Accumulated Other Comprehensive Income
(380)
(696)
(57)
(210)
Retained Earnings
147,744
240,315
421,568
439,121
Total Common Shareholders' Equity
846,280
916,187
1,077,929
1,068,549
Total Shareholders' Equity
846,280
916,187
1,077,929
1,068,549
Total Liabilities and Shareholders' Equity
1,193,595
1,250,018
1,429,993
1,420,773
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
108,469
59,695
76,250
67,263
Depreciation & Amortization
90,438
93,992
88,141
81,356
Share-Based Compensation Expense
21,754
18,954
16,971
13,988
Other Adjustments
2,474
37,335
18,853
47,040
Changes in Trade Receivables
4,352
5,548
(10,340)
(2,042)
Changes in Inventories
23,405
6,907
31,500
131
Changes in Accounts Payable
5,227
2,602
2,763
(2,219)
Changes in Accrued Expenses
15,607
12,320
13,884
(50,632)
Changes in Other Operating Activities
(1,568)
11,539
27,129
45,060
Cash from Operating Activities
270,158
248,892
265,151
199,945
Capital Expenditure
(54,563)
(76,277)
(64,087)
(90,582)
Proceeds from Sale of Property, Plant & Equipment
47
23
1,709
2,076
Other Investing Activities
—
(20,000)
—
—
Cash from Investing Activities
(54,516)
(96,254)
(62,378)
(88,506)
Issuance of Short-Term Debt
—
—
—
30,000
Repayments of Short-Term Debt
—
—
—
(30,000)
Net Issuance / (Repayments) of Short-Term Debt
—
—
—
0
Repayments of Long-Term Debt
(1,728)
(1,886)
(1,575)
(1,672)
Net Issuance / (Repayments) of Long-Term Debt
(1,728)
(1,886)
(1,575)
(1,672)
Issuance of Common Shares
2,513
3,597
11,723
7,946
Repurchases of Common Shares
(202,424)
(238,614)
(92,877)
—
Net Issuance / (Repurchases) of Common Shares
(199,911)
(235,017)
(81,154)
7,946
Other Financing Activities
(2,444)
(2,407)
(2,113)
(3,474)
Cash from Financing Activities
(204,083)
(239,310)
(84,842)
2,800
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash