The Boston Beer Company, Inc.
NYSE:SAM · New York Stock Exchange
+$3.14 today
Vol 0.15M · Avg 0.25M
Income Statement
Follow revenue through to earnings
Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Stock Ticker Earnings Waterfall
NYSE:SAM · Revenue to Net Income
Key Ratios
Analysis
$2.1B of revenue converted into -$61.2M of net income for the selected period. Gross margin is 45.7% and net margin is -4.8%, showing how much revenue survives after costs and taxes. EPS is $-6.30, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.1B +3.7% | $2.0B +0.2% | $2.0B -3.9% | $2.1B +1.6% | $2.1B | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $1.1B +1.4% | $1.1B -3.2% | $1.2B -5.9% | $1.2B -2.5% | $1.3B | $725.6M | $804.0M | $882.4M |
| Gross Profit | $952.6M +6.6% | $893.7M +4.9% | $852.4M -1.1% | $862.0M +8.0% | $797.8M | $8.9B | $7.6B | $6.2B |
| Gross Margin | 45.6% +1.2pp | 44.4% +2.0pp | 42.4% +1.2pp | 41.2% +2.5pp | 38.8% | 9.8% | 28.9% | 38.3% |
| Research & Development | $0 | $0 | $0 | $0 | $0 | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $800.7M +7.9% | $741.9M +1.6% | $730.5M -0.7% | $735.9M -0.6% | $740.6M | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $807.7M -1.2% | $817.8M +8.7% | $752.4M -2.4% | $771.2M -2.4% | $789.8M | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $90.4M -3.8% | $94.0M +6.6% | $88.1M +8.3% | $81.4M +12.8% | $72.1M | $374.2M | $1.2B | $631.8M |
| EBITDA | $243.9M -0.8% | $245.8M +17.1% | $210.0M +1.2% | $207.4M +60.4% | $129.3M | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 11.7% -0.5pp | 12.2% +1.8pp | 10.5% +0.5pp | 9.9% +3.6pp | 6.3% | 5.6% | 46.3% | 42.0% |
| Operating Income | $144.9M +90.7% | $76.0M -24.0% | $100.0M +10.1% | $90.8M +1035.3% | $8.0M | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 6.9% +3.2pp | 3.8% -1.2pp | 5.0% +0.6pp | 4.3% +4.0pp | 0.4% | 16.6% | 24.1% | 22.0% |
| Interest Income | $0 -100.0% | $13.2M +20.5% | $11.0M +329.3% | $2.6M | $0 | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $0 | $0 | $0 | $0 -100.0% | $110.0K | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | $8.6M -26.2% | $11.6M +21.3% | $9.6M +1386.4% | $645.0K +159.3% | -$1.1M | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $153.5M +75.2% | $87.6M -20.1% | $109.6M +19.9% | $91.4M +1223.4% | $6.9M | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 7.4% +3.0pp | 4.4% -1.1pp | 5.5% +1.1pp | 4.4% +4.0pp | 0.3% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $45.0M +61.2% | $27.9M -16.3% | $33.3M +37.9% | $24.2M +416.2% | -$7.6M | $1.3B | -$1.6B | $745.2M |
| Net Income | $108.5M +81.7% | $59.7M -21.7% | $76.3M +13.4% | $67.3M +362.2% | $14.6M | $4.9B | $4.8B | $4.7B |
| Net Margin | 5.2% +2.2pp | 3.0% -0.8pp | 3.8% +0.6pp | 3.2% +2.5pp | 0.7% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $10 +95.3% | $5 -18.6% | $6 +14.1% | $5 +358.8% | $1 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $10 +95.5% | $5 -18.6% | $6 +14.3% | $5 +365.0% | $1 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $10.6M -9.8% | $11.8M -3.8% | $12.2M -0.6% | $12.3M +0.3% | $12.3M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $10.6M -10.0% | $11.8M -3.9% | $12.3M -0.7% | $12.3M -0.7% | $12.4M | $1.2B | $924.4M | $678.0M |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
The Vita Coco Company, Inc.
NASDAQ:COCO
$4.82B
The Chefs' Warehouse, Inc.
NASDAQ:CHEF
$3.87B
National Beverage Corp.
NASDAQ:FIZZ
$3.42B
United Natural Foods, Inc.
NYSE:UNFI
$3.01B
Chagee Holdings Limited American Depositary Shares
NASDAQ:CHA
$2.22B
Compañía Cervecerías Unidas S.A.
NYSE:CCU
$2.10B
Perdoceo Education Corporation
NASDAQ:PRDO
$2.00B
McGraw Hill, Inc.
NYSE:MH
$1.89B
Flowers Foods, Inc.
NYSE:FLO
$1.63B
The Simply Good Foods Company
NASDAQ:SMPL
$1.14B
SEC Filings
Recent regulatory filings
No filings found.
How much revenue does SAM generate?
The Boston Beer Company, Inc. (SAM) reported $2.09B of revenue in fiscal 2025.
Is SAM profitable?
The Boston Beer Company, Inc. (SAM) reported $108.47M of net income, with a net margin of 5.2%.
Explore More
Continue the stock analysis
Jump to another research area for this company.