Financial Statements

The Boston Beer Company, Inc. (SAM)

$309.84

+1.87 (+0.61%)

Cash Flow Statement

All numbers are in thousands
Year XLSX
2023
XLSX
2022
XLSX
2021
XLSX
2020
XLSX
2019
Operating Cash Flow 265,151199,94556,297253,407178,242
Net Income 76,25067,26314,553191,960110,041
Depreciation & Amortization 88,14181,35672,09665,65756,271
Deferred income taxes -10,8719,097-5,22517,6557,404
Stock-based compensation 16,97113,98818,61515,28212,337
Change in working capital 64,936-9,702-69,860-48,817-13,845
Other non-cash items 29,72437,94326,11811,6706,034
Investing Cash Flow -62,378-88,506-146,617-139,117-258,829
Investments in PPE -64,087-90,582-147,919-139,996-93,233
Acquisitions 1,7092,0761,157487-165,517
Investment purchases --2,076--487-1,173
Sales/Maturities of investments -7,946-15,2741,173
Other Investing Activites --5,870145-14,395-79
Financing Cash Flow -84,8422,800-6,64112,3228,858
Debt repayment -1,575-31,672-1,570-101,260-97,378
Dividends payments --3,474-5,071-13,582-
Common Stock Repurchased -92,877-3,474-15,536-1,692-
Common Stock Issuance 11,7237,94610,46515,2741,173
Other Financing Activites -2,11333,4745,071113,582105,063
Accounts receivables -10,340-2,04223,071-24,014-12,260
Accounts payables 2,763-2,219-27,36140,77121,417
Inventory 31,500131-26,016-24,463-24,932
Other working capital 41,013-5,572-39,554-41,1111,930
Cash at beginning of period 180,56066,321163,28236,670108,399
Cash at end of period 298,491180,56066,321163,28236,670
Capital Expenditure -64,087-90,582-147,919-139,996-93,233
Net cash flow / Change in cash 117,931114,239-96,961126,612-71,729
Free Cash Flow 201,064109,363-91,622113,41185,009

The Boston Beer Company, Inc. income statement is the only one that provides an overview of company sales and net income
The reasoning behind the adjustment, however, is that free cash flow is meant to measure money being spent right now, not transactions that happened in the past. This makes The Boston Beer Company, Inc. FCF a useful instrument for identifying growing companies with high up-front costs, which may eat into earnings now but have the potential to pay off later.