The Boston Beer Company Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 27, 2025	Dec '24 Dec 28, 2024	Dec '23 Dec 30, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 25, 2021
Net Income	108.47	59.7	76.25	67.26	14.55
Depreciation & Amortization	102.56	103.41	96.48	91.33	82.38
Asset Writedown & Restructuring Costs	6.96	49.77	21.82	29.88	18.5
Stock-Based Compensation	21.75	18.95	16.97	13.99	18.62
Other Operating Activities	-16.6	-21.85	-11.31	7.18	-7.89
Change in Accounts Receivable	4.35	5.55	-10.34	-2.04	23.07
Change in Inventory	23.41	6.91	31.5	0.13	-21.22
Change in Accounts Payable	5.23	2.6	2.76	-2.22	-27.36
Change in Other Net Operating Assets	14.04	23.86	41.01	-5.57	-44.35
Operating Cash Flow	270.16	248.89	265.15	199.95	56.3
Operating Cash Flow Growth	8.54%	-6.13%	32.61%	255.16%	-77.78%
Capital Expenditures	-54.56	-76.28	-64.09	-90.58	-147.92
Sale of Property, Plant & Equipment	0.05	0.02	1.71	2.08	1.16
Other Investing Activities	-	-20	-	-	0.15
Investing Cash Flow	-54.52	-96.25	-62.38	-88.51	-146.62
Short-Term Debt Issued	-	-	-	30	-
Total Debt Issued	-	-	-	30	-
Short-Term Debt Repaid	-	-	-	-30	-
Long-Term Debt Repaid	-1.73	-1.89	-1.58	-1.67	-1.57
Total Debt Repaid	-1.73	-1.89	-1.58	-31.67	-1.57
Net Debt Issued (Repaid)	-1.73	-1.89	-1.58	-1.67	-1.57
Issuance of Common Stock	2.51	3.6	11.72	7.95	10.47
Repurchase of Common Stock	-204.87	-241.02	-94.99	-3.47	-15.54
Financing Cash Flow	-204.08	-239.31	-84.84	2.8	-6.64
Net Cash Flow	11.56	-86.67	117.93	114.24	-96.96
Free Cash Flow	215.6	172.62	201.06	109.36	-91.62
Free Cash Flow Growth	24.90%	-14.15%	83.85%	-	-
Free Cash Flow Margin	10.97%	8.58%	10.01%	5.23%	-4.45%
Free Cash Flow Per Share	19.71	14.67	16.40	8.86	-7.37
Cash Income Tax Paid	63.42	52.03	35.73	-28.14	41.22
Levered Free Cash Flow	190.6	151.58	181.65	117.89	-83.72
Unlevered Free Cash Flow	190.6	151.58	181.65	117.89	-83.65
Change in Working Capital	47.02	38.92	64.94	-9.7	-69.86

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