Filing Flows › Boston Beer (SAM) › Q3 2026 › vs Q3 2025
Boston Beer (SAM) Q3 2026 vs Q3 2025 (year over year)
Boston Beer's revenue fell $17.4M (-3%) from $537M in Q3 2025 to $520M in Q3 2026. Gross margin 51.7% against 50.8% (+0.9 pts).
Boston Beer, Q3 2026: revenue $520M (-3% year over year), operating margin 10.8%, net earnings $43.2M, operating cash flow $76.6M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 51.7% | 50.8% | +0.9 pts |
| Operating margin | 10.8% | 11.5% | -0.7 pts |
| Net margin | 8.3% | 8.6% | -0.3 pts |
| Free cash flow margin | 13.1% | 16.6% | -3.5 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $520M | $537M | −$17.4M | -3% |
| Gross profit | $269M | $273M | −$4.0M | -1% |
| Cost of revenue | $251M | $264M | −$13.4M | -5% |
| Other income, net | $2.6M | $2.1M | $475K | +23% |
| Operating profit | $56.3M | $62.0M | −$5.7M | -9% |
| Operating expenses | $213M | $211M | $1.7M | +0.8% |
| Pre-tax earnings | $58.9M | $64.2M | −$5.2M | -8% |
| Sales & marketing | $165M | $165M | $443K | +0.3% |
| General & admin | $42.9M | $44.9M | −$2.1M | -5% |
| Other operating costs | $4.7M | $1.4M | $3.3M | +233% |
| Net earnings | $43.2M | $46.2M | −$3.0M | -6% |
| Income tax | $15.7M | $18.0M | −$2.3M | -13% |
| Depreciation & amortization | $20.9M | $22.5M | −$1.6M | -7% |
| Share-based compensation | $3.7M | $3.5M | $172K | +5% |
| Working capital & other | $8.9M | $29.6M | −$20.7M | -70% |
| Operating cash flow | $76.6M | $102M | −$25.2M | -25% |
| Free cash flow (OCF − capex) | $68.3M | $89.2M | −$21.0M | -24% |
| Capital expenditures | $8.4M | $12.6M | −$4.2M | -33% |
Questions
How much did Boston Beer's revenue grow year over year in Q3 2026?
Boston Beer's revenue fell $17.4M (-3%) from $537M in Q3 2025 to $520M in Q3 2026. Gross margin 51.7% against 50.8% (+0.9 pts).