Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $906M | $863M | $996M | $1.25B | $1.74B | $2.06B | $2.09B | $2.01B | $2.01B | $1.96B |
| Revenue growth | — | -4.8% | 15.4% | 25.5% | 38.9% | 18.5% | 1.6% | -3.9% | 0.2% | -2.4% |
| Gross profit | $460M | $450M | $512M | $614M | $814M | $798M | $862M | $852M | $894M | $953M |
| Gross margin | 50.7% | 52.1% | 51.4% | 49.1% | 46.9% | 38.8% | 41.2% | 42.4% | 44.4% | 48.5% |
| Operating income | $138M | $116M | $116M | $145M | $244M | $8.00M | $90.8M | $100M | $76.0M | $145M |
| Operating margin | 15.2% | 13.4% | 11.6% | 11.6% | 14.1% | 0.4% | 4.3% | 5.0% | 3.8% | 7.4% |
| Net income | $87.3M | $99.0M | $92.7M | $110M | $192M | $14.6M | $67.3M | $76.3M | $59.7M | $108M |
| Net margin | 9.6% | 11.5% | 9.3% | 8.8% | 11.1% | 0.7% | 3.2% | 3.8% | 3.0% | 5.5% |
| EPS (diluted) | $6.79 | $8.09 | $7.82 | $9.16 | $15.53 | $1.17 | $5.44 | $6.21 | $5.06 | $9.89 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $154M | $136M | $163M | $178M | $253M | $56.3M | $200M | $265M | $249M | $270M |
| Capital expenditures | $49.9M | $33.0M | $55.5M | $93.2M | $140M | $148M | $90.6M | $64.1M | $76.3M | $54.6M |
| Free cash flow | $104M | $103M | $108M | $85.0M | $113M | -$91.6M | $109M | $201M | $173M | $216M |
| Share buybacks | $165M | $145M | $88.3M | — | — | — | — | $92.9M | $239M | $202M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $91.0M | $65.6M | $108M | $36.7M | $163M | $26.9M | $181M | $298M | $212M | $223M |
| Total assets | $616M | $570M | $640M | $1.05B | $1.38B | $1.39B | $1.42B | $1.43B | $1.25B | $1.19B |
| Total liabilities | $169M | $146M | $180M | $318M | $422M | $403M | $352M | $352M | $334M | $347M |
| Shareholders' equity | $447M | $424M | $460M | $736M | $957M | $983M | $1.07B | $1.08B | $916M | $846M |
| Retained earnings | $97.6M | $52.1M | $55.7M | $165M | $357M | $372M | $439M | $422M | $240M | $148M |
| Shares (wtd avg diluted) | 12.8M | 12.2M | 11.7M | 11.9M | 12.3M | 12.4M | 12.3M | 12.3M | 11.8M | 10.9M |
Every figure is extracted from BOSTON BEER CO INC’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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