Boston Beer Company
S&P 400
Cash Flow
Cash Flow Breakdown
Figures in US$OperatingInvestingFinancing
How to read this: the three bars show where cash moved each year. Operating is cash from the core business (you generally want this positive and growing). Investing is usually negative — money spent on assets or acquisitions. Financing shows money raised from, or returned to, lenders and shareholders. Bars above the line are cash in; bars below are cash out.
Operating Cash Flow vs Capex
Figures in US$Operating Cash FlowCapital Expenditure
How to read this: operating cash flow is the cash the business generated; capital expenditure is what it spent on long-term assets like plant and equipment. The gap between them is roughly free cash flow — the cash left over. A wide gap (operating well above capex) means the business funds its investment comfortably from its own earnings.
| Period | Operating Cash Flow | Investing Cash Flow | Financing Cash Flow | Capital Expenditure |
|---|---|---|---|---|
| FY2014 | $141.21M | $-151.83M | $37.50M | $151.78M |
| FY2015 | $168.68M | $-74.23M | $-76.66M | $74.19M |
| FY2016 | $154.19M | $-46.02M | $-111.33M | $49.91M |
| FY2017 | $135.98M | $-32.93M | $-128.45M | $32.99M |
| FY2018 | $163.45M | $-55.34M | $-65.34M | $55.46M |
| FY2019 | $178.24M | $-258.83M | $8.86M | $93.23M |
| FY2020 | $253.41M | $-139.12M | $12.32M | $140.00M |
| FY2021 | $56.30M | $-146.62M | $-6.64M | $147.92M |
| FY2022 | $199.95M | $-88.51M | $2.80M | $90.58M |
| FY2023 | $265.15M | $-62.38M | $-84.84M | $64.09M |
| FY2024 | $248.89M | $-96.25M | $-239.31M | $76.28M |
| FY2025 | $270.16M | $-54.52M | $-204.08M | $54.56M |
Figures in USD. Educational data only.
Understanding these terms
Plain-English explanations of each figure in the table above, and what a beginner typically looks at. These are educational descriptions only, not advice.
- Operating Cash Flow
- Cash produced by the company's core operations during the period. The US equivalent of "Cash from Operating Activity".How a beginner reads it: A beginner uses this as a reality check on profit, since it reflects cash actually collected. Healthy, consistent operating cash flow underpins a company's ability to invest and repay debt.
- Investing Cash Flow
- Cash used for or generated by buying and selling long-term assets and investments. The US equivalent of "Cash from Investing Activity".How a beginner reads it: A beginner expects this to be negative for companies investing in growth. Reading it next to operating cash flow shows whether the business funds its investments from its own earnings.
- Financing Cash Flow
- Cash flows with lenders and shareholders — borrowing, repaying, issuing shares, buybacks, and dividends. The US equivalent of "Cash from Financing Activity".How a beginner reads it: A beginner reads this to understand whether the company is taking in money (borrowing/issuing) or paying it out (repaying/dividends), and how that fits the operating picture.
- Capital Expenditure
- Money spent on buying or upgrading long-lived assets like plant, equipment, and buildings. Often shortened to "capex".How a beginner reads it: A beginner reads capex against operating cash flow to see whether a company funds its investment from its own earnings. Operating cash flow minus capex is roughly free cash flow.