(SAM) Boston Beer - Overview
Sector: Consumer Defensive | Industry: Beverages - Brewers | Exchange: NYSE (USA) | Market Cap: 1.891m USD | Total Return: -23.3% in 12m
Avg Turnover: 55.9M
EPS Trend: 56.4%
Qual. Beats: 0
Rev. Trend: 15.2%
Qual. Beats: 0
Warnings
Interest Coverage Ratio 0.7 is critical
Altman Z'' 0.51 < 1.0 - financial distress zone
Below Avwap Earnings
Tailwinds
No distinct edge detected
The Boston Beer Company, Inc. (SAM) is a prominent American producer of alcoholic beverages, operating across the beer, hard cider, seltzer, and ready-to-drink (RTD) categories. Its portfolio includes core brands such as Samuel Adams, Twisted Tea, Truly Hard Seltzer, and Angry Orchard. The company utilizes a three-tier distribution system, selling products to independent wholesalers who then supply retail channels including grocery stores, bars, and e-commerce platforms.
As a leader in the high-end segment of the U.S. brewing industry, the company relies on a hybrid production model, utilizing both company-owned breweries and contract manufacturing to manage capacity. This flexibility is critical in the Brewers sub-industry, where shifting consumer preferences toward spirits-based RTDs and flavored malt beverages have recently outpaced traditional lager growth. For deeper insights into these shifting market dynamics, you can explore the data further on ValueRay.
Founded in 1984 and headquartered in Boston, Massachusetts, the company maintains a geographic focus on the United States while managing secondary distribution in Canada, Mexico, and other international markets. The business model emphasizes brand innovation and multi-category expansion to mitigate volatility in any single beverage segment.
- Twisted Tea volume growth offsets sustained declines in the hard seltzer category
- Truly brand performance dictates overall segment margins and market share stability
- Aluminum and glass raw material costs impact gross profit margin realization
- Ready-to-drink category expansion drives revenue diversification beyond core craft beer products
- Distributor inventory levels and wholesaler depletion rates influence quarterly earnings guidance
| Net Income: -61.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.16 > 0.02 and ΔFCF/TA 1.36 > 1.0 |
| NWC/Revenue: -1.51% < 20% (prev 8.48%; Δ -10.00% < -1%) |
| CFO/TA 0.21 > 3% & CFO 247.8m > Net Income -61.2m |
| Net Debt (-129.4m) to EBITDA (257.3m): -0.50 < 3 |
| Current Ratio: 0.93 > 1.5 & < 3 |
| Outstanding Shares: last quarter (10.5m) vs 12m ago -7.18% < -2% |
| Gross Margin: 45.82% > 18% (prev 0.45%; Δ 4.54k% > 0.5%) |
| Asset Turnover: 171.5% > 50% (prev 164.5%; Δ 6.92% > 0%) |
| Interest Coverage Ratio: 0.67 > 6 (EBITDA TTM 257.3m / Interest Expense TTM 213.5m) |
| A: -0.03 (Total Current Assets 417.3m - Total Current Liabilities 448.6m) / Total Assets 1.17b |
| B: -0.02 (Retained Earnings -21.4m / Total Assets 1.17b) |
| C: 0.12 (EBIT TTM 142.2m / Avg Total Assets 1.21b) |
| D: -0.04 (Book Value of Equity -21.8m / Total Liabilities 488.5m) |
| Altman-Z'' = 0.51 = B |
| DSRI: 0.98 (Receivables 86.9m/87.8m, Revenue 2.07b/2.04b) |
| GMI: 0.99 (GM 45.82% / 45.41%) |
| AQI: 0.94 (AQ_t 0.14 / AQ_t-1 0.15) |
| SGI: 1.01 (Revenue 2.07b / 2.04b) |
| TATA: -0.26 (NI -61.2m - CFO 247.8m) / TA 1.17b) |
| Beneish M = -3.35 (Cap -4..+1) = AA |
As of May 31, 2026, the stock is trading at USD 177.28 with a total of 226,628 shares traded.
Over the past week, the price has changed by -4.70%,
over one month by -25.04%,
over three months by -21.83% and
over the past year by -23.34%.
Boston Beer has received a consensus analysts rating of 2.86. Therefore, it is recommended to hold SAM.
- StrongBuy: 1
- Buy: 0
- Hold: 11
- Sell: 0
- StrongSell: 2
| Analysts Target Price | 230.4 | 30% |
P/E Forward = 19.1205
P/S = 0.9724
P/B = 2.9001
P/EG = 0.7747
Revenue TTM = 2.07b USD
EBIT TTM = 142.2m USD
EBITDA TTM = 257.3m USD
Long Term Debt = 8.00k USD (from longTermDebtTotal, last fiscal year)
Short Term Debt = 11.5m USD (from shortTermDebt, last quarter)
Debt = 34.7m USD (from shortLongTermDebtTotal, last quarter) (leases 34.7m already included)
Net Debt = -129.4m USD (calculated: Debt 34.7m - CCE 164.1m)
Enterprise Value = 1.76b USD (1.89b + Debt 34.7m - CCE 164.1m)
Interest Coverage Ratio = 0.67 (Ebit TTM 142.2m / Interest Expense TTM 213.5m)
EV/FCF = 9.23x (Enterprise Value 1.76b / FCF TTM 190.8m)
FCF Yield = 10.83% (FCF TTM 190.8m / Enterprise Value 1.76b)
FCF Margin = 9.23% (FCF TTM 190.8m / Revenue TTM 2.07b)
Net Margin = -2.96% (Net Income TTM -61.2m / Revenue TTM 2.07b)
Gross Margin = 45.82% ((Revenue TTM 2.07b - Cost of Revenue TTM 1.12b) / Revenue TTM)
Gross Margin QoQ = 49.31% (prev 33.01%)
Tobins Q-Ratio = 1.50 (Enterprise Value 1.76b / Total Assets 1.17b)
Interest Expense / Debt = 614.5% (Interest Expense 213.5m / Debt 34.7m)
Taxrate = 29.32% (45.0m / 153.5m)
NOPAT = 100.5m (EBIT 142.2m * (1 - 29.32%))
Current Ratio = 0.93 (Total Current Assets 417.3m / Total Current Liabilities 448.6m)
Debt / Equity = 0.05 (Debt 34.7m / totalStockholderEquity, last quarter 682.6m)
Debt / EBITDA = -0.50 (Net Debt -129.4m / EBITDA 257.3m)
Debt / FCF = -0.68 (Net Debt -129.4m / FCF TTM 190.8m)
Total Stockholder Equity = 838.0m (last 4 quarters mean from totalStockholderEquity)
RoA = -5.08% (Net Income -61.2m / Total Assets 1.17b)
RoE = -7.12% (Net Income TTM -61.2m / Total Stockholder Equity 859.4m)
RoCE = 16.55% (EBIT 142.2m / Capital Employed (Equity 859.4m + L.T.Debt 8.00k))
RoIC = 14.77% (NOPAT 100.5m / Invested Capital 680.5m)
WACC = 6.25% (E(1.89b)/V(1.93b) * Re(6.36%) + (debt cost/tax rate unavailable))
Discount Rate = 6.36% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -100.00 | Cagr: -6.47%
[DCF] Terminal Value 75.83% ; FCFF base≈188.6m ; Y1≈194.1m ; Y5≈216.0m
[DCF] Fair Price = 416.0 (EV 3.34b - Net Debt -129.4m = Equity 3.47b / Shares 8.35m; r=8.35% [WACC [floored]]; 5y FCF grow 3.00% → 2.50% )
EPS Correlation: 56.40 | EPS CAGR: 9.44% | SUE: -0.26 | # QB: 0
Revenue Correlation: 15.20 | Revenue CAGR: 0.27% | SUE: -0.05 | # QB: 0
EPS current Quarter (2026-06-30): EPS=4.96 | Chg30d=+0.37% | Revisions=-29% | Analysts=11
EPS next Quarter (2026-09-30): EPS=4.34 | Chg30d=+0.75% | Revisions=-14% | Analysts=11
EPS current Year (2026-12-31): EPS=9.55 | Chg30d=-4.10% | Revisions=-57% | GrowthEPS=-3.4% | GrowthRev=-0.7%
EPS next Year (2027-12-31): EPS=11.09 | Chg30d=-2.53% | Revisions=-54% | GrowthEPS=+16.1% | GrowthRev=+1.6%
[Analyst] Revisions Ratio: -57%