The Boston Beer Company Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 27, 2025	Dec '24 Dec 28, 2024	Dec '23 Dec 30, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 25, 2021	Dec '20 Dec 26, 2020
Revenue	1,982	2,013	2,009	2,090	2,058	1,736
Revenue Growth (YoY)	-1.14%	0.21%	-3.91%	1.59%	18.50%	38.93%
Cost of Revenue	1,036	1,119	1,156	1,228	1,260	921.98
Gross Profit	945.58	893.73	852.37	861.99	797.79	814.45
Selling, General & Admin	787.83	741.94	730.55	735.93	740.62	565.78
Operating Expenses	787.83	741.94	730.55	735.93	740.62	565.78
Operating Income	157.75	151.79	121.82	126.05	57.17	248.67
Interest Expense	-	-	-	-	-0.11	-0.2
Interest & Investment Income	10.55	13.25	11	2.56	-	-
Other Non Operating Income (Expenses)	-1.99	-1.62	-1.41	-1.92	-0.98	0.22
EBT Excluding Unusual Items	166.31	163.42	131.41	126.7	56.09	248.7
Asset Writedown	-9.83	-49.77	-21.82	-29.88	-18.5	-4.47
Other Unusual Items	-26.05	-26.05	-	-5.38	-30.68	-
Pretax Income	130.42	87.6	109.59	91.44	6.91	244.23
Income Tax Expense	38.18	27.91	33.34	24.17	-7.64	52.27
Net Income	92.25	59.7	76.25	67.26	14.55	191.96
Preferred Dividends & Other Adjustments	0.27	0.14	0.15	0.16	0.05	1.16
Net Income to Common	91.97	59.56	76.1	67.11	14.5	190.8
Net Income Growth	14.84%	-21.71%	13.36%	362.19%	-92.42%	74.44%
Shares Outstanding (Basic)	11	12	12	12	12	12
Shares Outstanding (Diluted)	11	12	12	12	12	12
Shares Change (YoY)	-6.70%	-4.01%	-0.70%	-0.73%	1.25%	3.15%
EPS (Basic)	8.26	5.07	6.23	5.46	1.19	15.73
EPS (Diluted)	8.25	5.06	6.21	5.44	1.17	15.53
EPS Growth	23.12%	-18.46%	14.20%	364.51%	-92.47%	69.58%
Free Cash Flow	211.9	172.62	201.06	109.36	-91.62	113.41
Free Cash Flow Per Share	19.00	14.67	16.40	8.86	-7.37	9.23
Gross Margin	47.72%	44.40%	42.44%	41.24%	38.77%	46.90%
Operating Margin	7.96%	7.54%	6.07%	6.03%	2.78%	14.32%
Profit Margin	4.64%	2.96%	3.79%	3.21%	0.70%	10.99%
Free Cash Flow Margin	10.69%	8.58%	10.01%	5.23%	-4.45%	6.53%
EBITDA	248.57	245.79	209.96	207.41	129.27	314.33
EBITDA Margin	12.54%	12.21%	10.45%	9.92%	6.28%	18.10%
D&A For EBITDA	90.81	93.99	88.14	81.36	72.1	65.66
EBIT	157.75	151.79	121.82	126.05	57.17	248.67
EBIT Margin	7.96%	7.54%	6.07%	6.03%	2.78%	14.32%
Effective Tax Rate	29.27%	31.86%	30.42%	26.44%	-	21.40%
Revenue as Reported	1,982	2,013	2,009	2,090	2,058	1,736
Advertising Expenses	-	240.9	233.5	226.7	291.3	211.2

Source: S&P Global Market Intelligence. Standard template. Financial Sources.