The Boston Beer Company, Inc. (SAM) Key Metrics
SAM valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.88B
- Enterprise value
- $1.49B
- P/E (TTM)
- — 10-yr median 48.2
- Forward P/E
- 16.4
- PEG ratio
- 0.77
- Price / sales
- 1.0 10-yr median 2.5
- Price / book
- 2.4 10-yr median 5.2
- EV / EBITDA
- 7.8 10-yr median 17.5
- Dividend yield
- —
- Beta
- 0.82
SAM key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsSAM valuation Price multiples at each fiscal year-end price.
SAM returns How much profit the business earns on the capital it uses.
SAM per-share figures Results divided by the shares outstanding at year-end.
SAM financial health Debt, liquidity and how easily interest is covered.
SAM efficiency & capital use Working capital cycle and where the cash goes.
SAM valuation history
SAM returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
SAM debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
SAM cash returned to shareholders
SAM price vs earnings per share
SAM key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $2.07B | $3.53B | $4.24B | $4.07B | $6.28B | $12.21B | $4.50B | $2.83B | $2.33B | $2.17B |
| Enterprise value | $1.88B | $3.36B | $3.98B | $3.94B | $6.32B | $12.12B | $4.52B | $2.72B | $2.26B | $2.08B |
| P/E ratio | 19.1 | 59.2 | 55.6 | 60.5 | 431.6 | 63.6 | 40.9 | 30.5 | 23.5 | 24.9 |
| Price / sales | 1.0 | 1.8 | 2.1 | 1.9 | 3.1 | 7.0 | 3.6 | 2.8 | 2.7 | 2.4 |
| Price / book | 2.4 | 3.9 | 3.9 | 3.8 | 6.4 | 12.8 | 6.1 | 6.1 | 5.5 | 4.9 |
| Price / free cash flow | 9.6 | 20.5 | 21.1 | 37.2 | — | 107.7 | 52.9 | 26.2 | 22.6 | 20.8 |
| Price / operating cash flow | 7.7 | 14.2 | 16.0 | 20.3 | 111.6 | 48.2 | 25.2 | 17.3 | 17.1 | 14.1 |
| EV / sales | 0.9 | 1.7 | 2.0 | 1.9 | 3.1 | 7.0 | 3.6 | 2.7 | 2.6 | 2.3 |
| EV / EBITDA | 7.7 | 13.7 | 19.0 | 19.0 | 48.9 | 38.6 | 22.4 | 16.1 | 13.4 | 11.1 |
| EV / free cash flow | 8.7 | 19.5 | 19.8 | 36.0 | — | 106.9 | 53.2 | 25.2 | 22.0 | 20.0 |
| Earnings yield | 5.2% | 1.7% | 1.8% | 1.7% | 0.2% | 1.6% | 2.4% | 3.3% | 4.3% | 4.0% |
| Free cash flow yield | 10.4% | 4.9% | 4.7% | 2.7% | −1.5% | 0.9% | 1.9% | 3.8% | 4.4% | 4.8% |
| Dividend yield | — | — | — | 0.1% | 0.1% | 0.1% | — | — | 0.0% | 1.8% |
| Shareholder yield (dividends + buybacks) | 9.9% | 6.8% | 2.2% | 0.2% | 0.3% | 0.1% | 0.0% | 3.1% | 6.2% | 9.4% |
| Share price at fiscal year-end | $195.13 | $299.98 | $345.59 | $329.52 | $505.10 | $994.29 | $377.85 | $240.84 | $191.10 | $169.85 |
| Per share | ||||||||||
| Revenue per share | $196.97 | $170.96 | $163.86 | $169.33 | $165.46 | $141.37 | $104.96 | $84.85 | $70.85 | $70.84 |
| Earnings per share | $10.24 | $5.07 | $6.22 | $5.45 | $1.17 | $15.63 | $9.24 | $7.90 | $8.13 | $6.83 |
| Operating cash flow per share | $25.49 | $21.14 | $21.63 | $16.20 | $4.53 | $20.63 | $14.97 | $13.93 | $11.16 | $12.05 |
| Free cash flow per share | $20.34 | $14.66 | $16.40 | $8.86 | −$7.37 | $9.23 | $7.14 | $9.20 | $8.46 | $8.15 |
| Cash per share | $21.08 | $17.99 | $24.35 | $14.63 | $2.16 | $13.29 | $3.08 | $9.24 | $5.39 | $7.11 |
| Book value per share | $79.86 | $77.81 | $87.94 | $86.56 | $79.08 | $77.91 | $61.78 | $39.23 | $34.77 | $34.90 |
| Tangible book value per share | $67.85 | $66.86 | $73.89 | $71.26 | $61.69 | $60.29 | $43.57 | $38.74 | $34.31 | $34.46 |
| Dividends per share | — | — | — | $0.28 | $0.41 | $1.11 | — | — | $0.00 | $3.14 |
| Capex per share | $5.15 | $6.48 | $5.23 | $7.34 | $11.89 | $11.40 | $7.83 | $4.73 | $2.71 | $3.90 |
| Debt per share | $3.57 | $3.29 | $3.69 | $4.39 | $4.94 | $5.82 | $5.14 | $0.00 | $0.00 | $0.04 |
| Shares outstanding | 10.6M | 11.8M | 12.3M | 12.3M | 12.4M | 12.3M | 11.9M | 11.7M | 12.2M | 12.8M |
| Change in shares outstanding | −10.0% | −3.9% | −0.7% | −0.7% | +1.2% | +3.1% | +1.5% | −3.7% | −4.8% | −5.4% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 12.3% | 6.0% | 7.1% | 6.6% | 1.5% | 22.7% | 18.4% | 21.0% | 22.8% | 19.2% |
| Return on invested capital (ROIC) | 14.6% | 6.6% | 7.9% | 6.8% | 0.8% | 23.6% | 19.9% | 26.0% | 27.6% | 24.2% |
| Return on assets (ROA) | 8.9% | 4.5% | 5.3% | 4.8% | 1.0% | 16.3% | 13.9% | 15.3% | 16.6% | 13.8% |
| Return on tangible assets | 10.2% | 5.3% | 6.1% | 5.5% | 1.2% | 16.1% | 15.0% | 14.6% | 17.6% | 14.1% |
| Free cash flow margin | 10.3% | 8.6% | 10.0% | 5.2% | −4.5% | 6.5% | 6.8% | 10.8% | 11.9% | 11.5% |
| Income quality (OCF / net income) | 2.49 | 4.17 | 3.48 | 2.97 | 3.87 | 1.32 | 1.62 | 1.76 | 1.37 | 1.77 |
| Financial health | ||||||||||
| Total debt | $37.9M | $38.8M | $45.3M | $54.1M | $61.5M | $71.5M | $61.1M | $0 | $0 | $471,000 |
| Cash & short-term investments | $223.4M | $211.8M | $298.5M | $180.6M | $26.9M | $163.3M | $36.7M | $108.4M | $65.6M | $91.0M |
| Net debt | −$185.5M | −$173.0M | −$253.2M | −$126.4M | $34.6M | −$91.8M | $24.5M | −$108.4M | −$65.6M | −$90.6M |
| Debt / equity | 0.04 | 0.04 | 0.04 | 0.05 | 0.06 | 0.07 | 0.08 | 0.00 | 0.00 | 0.00 |
| Debt / assets | 0.03 | 0.03 | 0.03 | 0.04 | 0.04 | 0.05 | 0.06 | 0.00 | 0.00 | 0.00 |
| Net debt / EBITDA | −0.76 | −0.70 | −1.21 | −0.61 | 0.27 | −0.29 | 0.12 | −0.64 | −0.39 | −0.48 |
| Current ratio | 1.65 | 1.80 | 2.25 | 2.07 | 1.35 | 1.59 | 1.21 | 1.92 | 1.65 | 1.98 |
| Quick ratio | 1.29 | 1.30 | 1.74 | 1.35 | 0.77 | 1.09 | 0.62 | 1.34 | 1.16 | 1.47 |
| Interest coverage | — | — | 9.1 | 35.5 | 72.7 | — | 61.3 | 89.7 | 210.7 | 819.4 |
| Working capital | $165.0M | $185.7M | $280.2M | $219.0M | $90.2M | $153.8M | $38.0M | $111.1M | $66.6M | $99.7M |
| Invested capital | $660.8M | $743.1M | $824.7M | $942.1M | $1.02B | $865.2M | $760.1M | $351.9M | $357.9M | $356.0M |
| Tangible asset value | $719.0M | $787.2M | $905.8M | $879.7M | $767.2M | $740.5M | $518.8M | $454.5M | $417.8M | $440.9M |
| Net current asset value | $70.3M | $83.5M | $151.4M | $71.0M | −$58.0M | −$38.1M | $5.8M | $52.0M | $22.2M | $24.5M |
| Graham number | $135.62 | $94.22 | $110.94 | $103.01 | $45.63 | $165.52 | $113.33 | $83.49 | $79.76 | $73.21 |
| Graham net-net per share | −$1.57 | −$1.05 | $4.56 | −$3.83 | −$17.74 | −$12.70 | −$6.25 | −$0.39 | −$1.88 | −$2.49 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | $3.5M | $5.1M | $13.6M | — | — | $0 | $40.1M |
| Share buybacks (net) | $204.9M | $238.6M | $92.9M | $3.5M | $15.5M | $1.7M | $0 | $88.3M | $144.6M | $164.7M |
| Dividend payout ratio | — | — | — | 5.2% | 34.8% | 7.1% | — | — | 0.0% | 45.9% |
| Dividends + buybacks / free cash flow | 95.0% | 138.2% | 46.2% | 6.4% | — | 13.5% | 0.0% | 81.8% | 140.4% | 196.4% |
| Capex / revenue | 2.6% | 3.8% | 3.2% | 4.3% | 7.2% | 8.1% | 7.5% | 5.6% | 3.8% | 5.5% |
| Capex / operating cash flow | 20.2% | 30.6% | 24.2% | 45.3% | 262.7% | 55.2% | 52.3% | 34.0% | 24.3% | 32.4% |
| Capex / depreciation | 0.60 | 0.81 | 0.73 | 1.11 | 2.05 | 2.13 | 1.66 | 1.07 | 0.64 | 1.01 |
| Stock-based compensation / revenue | 1.0% | 0.9% | 0.8% | 0.7% | 0.9% | 0.9% | 1.0% | 1.0% | 0.7% | 0.7% |
| SG&A / revenue | 38.4% | 36.9% | 36.4% | 35.2% | 36.0% | 32.6% | 37.5% | 39.7% | 38.4% | 35.6% |
| Efficiency | ||||||||||
| Days sales outstanding | 13.1 | 12.4 | 12.3 | 15.3 | 17.5 | 16.2 | 15.6 | 15.6 | 16.9 | 15.6 |
| Days of inventory on hand | 33.7 | 38.0 | 41.7 | 44.2 | 40.6 | 46.9 | 50.6 | 45.6 | 45.6 | 44.5 |
| Days payables outstanding | 29.3 | 28.5 | 27.1 | 25.3 | 30.1 | 39.2 | 35.5 | 32.2 | 34.8 | 34.0 |
| Cash conversion cycle (days) | 17.5 | 21.9 | 26.9 | 34.2 | 28.0 | 23.9 | 30.8 | 29.0 | 27.7 | 26.1 |
| Receivables turnover | 27.93 | 29.43 | 29.65 | 23.86 | 20.87 | 22.58 | 23.36 | 23.43 | 21.62 | 23.43 |
| Payables turnover | 12.45 | 12.83 | 13.48 | 14.44 | 12.14 | 9.31 | 10.30 | 11.34 | 10.49 | 10.73 |
| Inventory turnover | 10.82 | 9.61 | 8.75 | 8.26 | 9.00 | 7.78 | 7.21 | 8.00 | 8.01 | 8.20 |
| Asset turnover | 1.71 | 1.50 | 1.41 | 1.49 | 1.47 | 1.47 | 1.57 | 1.65 | 1.45 | 1.43 |
| Average receivables | $74.7M | $68.4M | $67.8M | $87.6M | $98.6M | $76.9M | $53.5M | $42.5M | $39.9M | $38.7M |
| Average payables | $91.1M | $87.3M | $85.7M | $85.1M | $103.8M | $99.0M | $61.7M | $42.6M | $39.4M | $41.7M |
| Average inventory | $104.8M | $116.5M | $132.1M | $148.8M | $140.0M | $118.5M | $88.1M | $60.5M | $51.6M | $54.5M |
| Intangibles / total assets | 10.7% | 10.3% | 12.0% | 13.3% | 15.6% | 15.4% | 22.9% | 0.9% | 1.0% | 0.9% |
Computed from SAM's annual financial statements (latest annual report filed February 24, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
SAM valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Boston Beer traded at 19.1 times earnings, against a 10-year median of 48.2. Boston Beer earned a return on equity of 12.3% and a return on invested capital of 14.6% in fiscal 2025. It ended the year with $37.9 million of debt and $223.4 million in cash and short-term investments, a net cash position of $185.5 million. It returned $204.9 million to shareholders: $0 in dividends and $204.9 million in share buybacks, 95% of free cash flow. The share count fell 17.2% from 12.8M to 10.6M over 9 years.
See the SAM income statement, the SAM chart for price history, or the SAM stock overview for the latest quote and news.
SAM key metrics FAQ
What is Boston Beer's P/E ratio?
Boston Beer traded at 19.1 times earnings at the end of fiscal 2025.
What is Boston Beer's EV/EBITDA?
Boston Beer's enterprise value was 7.7 times EBITDA at the end of fiscal 2025 (enterprise value $1.9 billion, EBITDA $243.9 million); the current EV/EBITDA is 7.8.
What is Boston Beer's return on equity?
Boston Beer's return on equity (ROE) was 12.3% in fiscal 2025: net income of $108.5 million on average shareholders' equity of $881.2 million.
What is Boston Beer's ROIC?
Boston Beer's return on invested capital was 14.6% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Boston Beer have?
Boston Beer had total debt of $37.9 million at the end of fiscal 2025, a debt-to-equity ratio of 0.04 and more cash than debt.
Does Boston Beer buy back its shares?
Yes. Boston Beer spent $204.9 million on net share repurchases in fiscal 2025 Shares outstanding changed −10.0% over the year, to 10.6M..
What is Boston Beer's free cash flow yield?
Boston Beer generated $215.6 million of free cash flow in fiscal 2025, a free cash flow yield of 10.4% on its market value at year-end ($2.1 billion).
What is Boston Beer's current ratio?
Boston Beer's current ratio was 1.65 at the end of fiscal 2025: current assets were 1.65 times current liabilities.