The Boston Beer Company, Inc. (SAM) Stock Analysis
Consumer Defensive · Beverages - Brewers · NYSE
The Boston Beer Company, Inc. (SAM) posted $1.96B in revenue for fiscal 2025 (down 2.4% year over year), at a 5.5% net margin, and has compounded revenue about 2.5%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on The Boston Beer Company, Inc.
The Boston Beer Company, Inc. has grown revenue from $906.45M to $1.96B over the last 10 fiscal years, compounding about 2.5% a year. The most recent year was down 2.4%, so growth has cooled from its longer-run pace.
Net margin sits at 5.5%, up 2.5 points year over year on a 48.5% gross margin.
At today's valuation the market is pricing in roughly -4.1% annual free-cash-flow growth — versus the 13.7% it actually delivered over the last five years, so the price is arguably undemanding against what it has already proven.
Synthesised from The Boston Beer Company, Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
The Boston Beer Company, Inc. revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $906.45M | $862.99M | $995.65M | $1.25B | $1.74B | $2.06B | $2.09B | $2.01B | $2.01B | $1.96B |
| Gross profit | $459.67M | $449.90M | $512.24M | $614.17M | $814.45M | $797.79M | $861.99M | $852.37M | $893.73M | $952.58M |
| Net income | $87.35M | $99.05M | $92.66M | $110.04M | $191.96M | $14.55M | $67.26M | $76.25M | $59.70M | $108.47M |
| Net margin | 9.6% | 11.5% | 9.3% | 8.8% | 11.1% | 0.7% | 3.2% | 3.8% | 3.0% | 5.5% |
Source: The Boston Beer Company, Inc. SEC filings (10-K). 17 years of history available in the interactive view.
The Boston Beer Company, Inc.: no obvious red flags in the filings
Our deterministic scan of the filed statements — receivables vs sales, earnings vs cash, dilution, leverage and margins — didn't flag anything. Ask about the risks →
What growth is priced into SAM stock?
At today's market cap of $1.84B, The Boston Beer Company, Inc. is priced for free-cash-flow growth of about -4.1% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $215.59M from the FY ending 2025-12-31). For comparison, free cash flow actually grew 13.7%/yr over the last five fiscal years and revenue 2.5%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 17 years of The Boston Beer Company, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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The Boston Beer Company, Inc. financial history by metric
Compare The Boston Beer Company, Inc. with peers
About The Boston Beer Company, Inc.
The Boston Beer Company, Inc. produces and sells alcohol beverages primarily in the United States. Its flagship beer is Samuel Adams Boston Lager. The company offers various beers, hard ciders, spirits based ready to drink beverages, distilled spirits, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, and Sun Cruiser brand names. It 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 traditional and e-commerce retail outlets. It sells its products in Canada, Mexico, and internationally. The Boston Beer Company, Inc. was founded in 1984 and is based in Boston, Massachusetts.
The Boston Beer Company, Inc. — frequently asked questions
What is The Boston Beer Company, Inc.'s revenue?
The Boston Beer Company, Inc. (SAM) reported revenue of $1.96B for fiscal year 2025, down 2.4% from the prior year, according to its SEC filings.
Is The Boston Beer Company, Inc. profitable?
Yes. SAM earned net income of $108.47M in fiscal 2025, a net margin of 5.5%.
What is SAM's P/E ratio?
The Boston Beer Company, Inc. trades at a price-to-earnings ratio of about 0.0 based on the latest data in our nightly-refreshed cache.
How fast is The Boston Beer Company, Inc. growing?
SAM's revenue grew at roughly 2.5% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does The Boston Beer Company, Inc. have?
As of fiscal year 2025, SAM carried roughly $0 in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is The Boston Beer Company, Inc.'s gross margin?
SAM's gross margin was 48.5% in fiscal 2025 — gross profit of $952.58M on revenue of $1.96B.
What is The Boston Beer Company, Inc.'s market cap?
The Boston Beer Company, Inc. (SAM) has a market capitalization of about $1.84B, based on the latest data in our nightly-refreshed cache.
When does The Boston Beer Company, Inc.'s fiscal year end?
SAM's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into SAM stock?
At today's market cap of $1.84B, The Boston Beer Company, Inc. is priced for free-cash-flow growth of about -4.1% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $215.59M from the FY ending 2025-12-31). For comparison, free cash flow actually grew 13.7%/yr over the last five fiscal years and revenue 2.5%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from The Boston Beer Company, Inc.'s official SEC filings (10-K and 10-Q), covering 17 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.