The Boston Beer Company, Inc.
Rank #23Capital ReturnSAM · NYSE · Consumer Defensive
The Boston Beer Company, Inc. (SAM) — Rank #23 by gross profitability (GP/assets 0.76) · ROE 15.2% · Piotroski F-Score N/A.
As-of 2026-09-15 · CIK 0000949870 · all metrics point-in-time as of the filing date.
About
The Boston Beer Company, Inc. produces and sells alcohol beverages primarily in the United States.
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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.
- Industry
- Beverages - Brewers
- Sector
- Consumer Defensive
- State
- MA
- Filer Category
- Large accelerated filer
- Fiscal Year End
- December 27
- Website
- bostonbeer.com
Price History
Company Snapshot
P/E and reverse DCF are the primary valuation lenses at this stage.
Market Cap
$1.77B
P/E (annual)
17.1
P/S (annual)
0.9
P/B
2.5
P/OCF (annual)
6.5
Shareholder Yield
7.0%
Employees
2,736
Industry
Beverages - Brewers
Exchange
NYSE
Signal Flags
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
1/2 passTerry Smith quality gate
Passes 1/5 Terry Smith thresholds1 of 5 threshold not computable from filed data.
What Growth Is Priced In
Implied revenue growth (10Y)
-4.0%
The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).
Buyback tailwind: -7.0% — per-share value needs a total required return of -11.0% once share-count change is priced in.
vs. own 6-year median revenue growth: 0.9%
within its own historyCost-of-equity sensitivity (implied growth at different discount rates)
r = 8%
-7.6%
r = 10% (base)
-4.0%
r = 12%
-0.9%
Net debt / market cap: -14.3%
Valuation History
Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.
P / E
Price / diluted EPS
P / S
Price / revenue per share
P / B
Price / book value per share
P / GP
Price / gross profit per share
P / FCF
Price / free cash flow per share
FCF yield, shareholder yield, and buyback activity are the primary reads at this stage.
Profitability
Gross profitability (GP / assets)
0.76
Primary signal (Novy-Marx).
1st of 18 SIC 20 peers
Return on equity
15.2%
Gross margin
48.5%
5th of 18 SIC 20 peers
Revenue growth (YoY)
-2.4%
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
-2.0%
Revenue CAGR (5Y)
2.5%
Earnings CAGR (3Y)
17.3%
FCF CAGR (3Y)
25.4%
Anti-fragile safety
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
0.76
12th of 18 SIC 20 peers (best = lowest)
Current ratio
1.05×
18th of 18 SIC 20 peers
Quick ratio
0.74×
Net cash
$265.55M
Cash & equivalents minus total debt.
Recession resistance
Revenue through recessions
Worst single-year YoY revenue decline, 17 years of history
Cash-flow health
Free cash flow
$215.59M
Operating cash flow minus capex.
Positive free cash flow
FCF / net income
0.99
Cash-backing of earnings.
FCF/NI divergence
Unfavorable divergence (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
1.1%
Stock-based comp intensity.
Piotroski F-Score
F-Score
N/A
Only 8/9 components determinable.