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Boston Beer (SAM) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 22, 2026 · Boston Beer (SAM) Q3 2026 earnings results →
Q3 2026 Revenue down 3% year over year to $520M · 8¢ of every $1 of revenue kept as net profit · operating margin 10.8%
Boston Beer made $520M in Q3 2026 (-3% Y/Y). Operating margin 10.8%, net earnings $43.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 22, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $520.1M in Q3 2026, down 3% year over year and down 8% from the previous quarter.
Gross margin was 51.7%, up 0.9 points from Q3 2025. Operating profit was $56.3M, a 10.8% margin (down 0.7 points year over year). Operating expenses grew 1% against a revenue fall of 3%. The fastest-growing cost line was Other operating costs (+233%). Net earnings were $43.2M, down 6% year over year. The effective tax rate was 26.7%.
Operating cash flow was $76.6M (down 25% year over year), 178% of net earnings. Non-cash charges added back $20.9M of depreciation and amortization and $3.7M of share-based compensation. Working capital and other items added $8.9M. Capital expenditures of $8.4M left free cash flow of $68.3M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 22, 2026 | $520M | -3% | 10.8% | $43.2M | $76.6M |
| Q2 2026 | 10-Q | Jul 23, 2026 | $568M | -3% | 12.5% | $51.6M | $138M |
| Q1 2026 | 10-Q | Apr 30, 2026 | $434M | -4% | -43.9% | −$145M | −$20.4M |
| Q4 2025 | 10-K | Feb 24, 2026 | $386M | -4% | -8.6% | −$22.5M | $39.9M |
| Q3 2025 | 10-Q | Oct 23, 2025 | $537M | -11% | 11.5% | $46.2M | $102M |
| Q2 2025 | 10-Q | Jul 24, 2025 | $588M | +2% | 14.0% | $60.4M | $126M |
| Q1 2025 | 10-Q | Apr 24, 2025 | $454M | +6% | 7.4% | $24.4M | $1.9M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Boston Beer
The Boston Beer Company, Inc. and certain subsidiaries (the “Company”) are engaged in the business of selling alcohol beverages throughout the United States and in selected international markets, under the trade names “The Boston Beer Company®”, “Twisted Tea Brewing Company®”, “Hard Seltzer Beverage Company”, “Angry Orchard® Cider Company”, “Dogfish Head® Craft Brewery”, “Dogfish Head Distilling Co.”, “Angel City® Brewing Company”, “Coney Island® Brewing Company”, "Green Rebel Brewing Co.", “TeaPot Worldwide”, “Sun Cruiser Beverage Co.","American Fermentation Company LLC", and "Sinless Spirits Company".
In its own words, from its 10-K, filed Feb 24, 2026.
Boston Beer against its Malt Beverages peers
The largest companies of the same SEC industry, each at its latest quarter.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| SAM Boston Beer | Q3 2026 | $520M | -3% | 10.8% |
| TAP Molson Coors Beverage | Q3 2026 | $3.4B | -2% | 11.5% |
Source: Boston Beer 10-Q on SEC EDGAR · CIK 949870 · Malt Beverages
13F: who owns SAM and who is buying
More on SAM
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results