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How Boston Beer (SAM) makes money
Boston Beer (SAM) made $520M of revenue in the third quarter 2026 (Q3 2026), -3% from a year earlier. Of every dollar of revenue, 52¢ was left as gross profit, 11¢ was left as operating profit, 8¢ was left as net earnings.
Drawing the Sankey…
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $520M | 100.0% |
| Cost of revenue | $251M | 48.3% |
| Gross profit | $269M | 51.7% |
| Operating expenses | $213M | 40.9% |
| Operating profit | $56.3M | 10.8% |
| Income tax | $15.7M | 3.0% |
| Net earnings | $43.2M | 8.3% |
| Operating cash flow | $76.6M | 14.7% |
| Free cash flow | $68.3M | 13.1% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $520M | -3% |
| Q2 2026 | $568M | -3% |
| Q1 2026 | $434M | -4% |
| Q4 2025 | $386M | -4% |
| Q3 2025 | $537M | -11% |
| Q2 2025 | $588M | +2% |
| Q1 2025 | $454M | +6% |
From Boston Beer's 10-Q filed Oct 22, 2026 (on EDGAR).
Questions
How does Boston Beer make money?
Boston Beer (SAM) made $520M of revenue in the third quarter 2026 (Q3 2026), -3% from a year earlier. Of every dollar of revenue, 52¢ was left as gross profit, 11¢ was left as operating profit, 8¢ was left as net earnings.
What is Boston Beer's profit margin?
Net earnings were $43.2M, 8.3% of revenue, in the third quarter 2026; the operating margin was 10.8%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.