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	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
Net Income	92.25	59.7	76.25	67.26	14.55	191.96
Depreciation & Amortization	100.23	103.41	96.48	91.33	82.38	65.66
Loss (Gain) From Sale of Assets	0.22	-	-	-	-	-0.64
Asset Writedown & Restructuring Costs	9.83	49.77	21.82	29.88	18.5	4.47
Stock-Based Compensation	18.68	18.95	16.97	13.99	18.62	15.28
Other Operating Activities	-29.77	-21.85	-11.31	7.18	-7.89	25.5
Change in Accounts Receivable	10.01	5.55	-10.34	-2.04	23.07	-24.01
Change in Inventory	60.87	6.91	31.5	0.13	-21.22	-24.46
Change in Accounts Payable	0.59	2.6	2.76	-2.22	-27.36	40.77
Change in Other Net Operating Assets	9.22	23.86	41.01	-5.57	-44.35	-41.11
Operating Cash Flow	272.12	248.89	265.15	199.95	56.3	253.41
Operating Cash Flow Growth	13.51%	-6.13%	32.61%	255.16%	-77.78%	42.17%
Capital Expenditures	-60.22	-76.28	-64.09	-90.58	-147.92	-140
Sale of Property, Plant & Equipment	0.05	0.02	1.71	2.08	1.16	0.49
Other Investing Activities	-	-20	-	-	0.15	0.39
Investing Cash Flow	-60.18	-96.25	-62.38	-88.51	-146.62	-139.12
Short-Term Debt Issued	-	-	-	30	-	100
Total Debt Issued	-	-	-	30	-	100
Short-Term Debt Repaid	-	-	-	-30	-	-100
Long-Term Debt Repaid	-	-1.89	-1.58	-1.67	-1.57	-1.26
Total Debt Repaid	-1.7	-1.89	-1.58	-31.67	-1.57	-101.26
Net Debt Issued (Repaid)	-1.7	-1.89	-1.58	-1.67	-1.57	-1.26
Issuance of Common Stock	2.14	3.6	11.72	7.95	10.47	15.27
Repurchase of Common Stock	-217.53	-241.02	-94.99	-3.47	-15.54	-1.69
Financing Cash Flow	-217.09	-239.31	-84.84	2.8	-6.64	12.32
Net Cash Flow	-5.15	-86.67	117.93	114.24	-96.96	126.61
Free Cash Flow	211.9	172.62	201.06	109.36	-91.62	113.41
Free Cash Flow Growth	23.44%	-14.15%	83.85%	-	-	33.41%
Free Cash Flow Margin	10.69%	8.58%	10.01%	5.23%	-4.45%	6.53%
Free Cash Flow Per Share	19.00	14.67	16.40	8.86	-7.37	9.23
Cash Income Tax Paid	70.72	52.03	35.73	-28.14	41.22	35.97
Levered Free Cash Flow	208.97	151.58	181.65	117.89	-83.72	103.13
Unlevered Free Cash Flow	208.97	151.58	181.65	117.89	-83.65	103.25
Change in Working Capital	80.69	38.92	64.94	-9.7	-69.86	-48.82

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