JESSE BARONE, DYLAN BURTIS, TIM GRIFFIN, ANOUSHA NIKJOUIAN
THE MAN BEHIND THE BEER
COMPETITIVE ADVANTAGE• Freshest Beer
Program• Corporate Citizen• Wide range of Beer
Portfolio
39
BOSTON BEER VS. BEVERAGES-BREWERS INDUSTRY
Avg 5Yr ROE
Avg 5Yr Rev
Avg 5Yr EPS
Avg Debt
Avg PE
0
10
20
30
40
50
60
Beverages - BrewersBoston Beer
PERCENT CHANGE IN PERFORMANCE GROWTH
Boston Beer Annual Data
2002-2011
Sales 42 % ↑Earnings Per Share (EPS)
10.8 %↑
Return on Equity (ROE)
31.3 %↑
Net Income 12.9 %↑Book Value/Share 34.6 %↑
GROWTH FORECAST
NameP/E
(TTM)P/E (Fwd
12 Mo.) PEG
1 Year EPS
Growth Rate
Next 3-5 yrs EPS
Growth RateSAM 24.1x 23.5x 1.86x 2.5% 25.0%
Brewers Industry 22.3x 22.2x 0.0x 11.4% 19.3%
Consumer Defensive Sector
19.5x 17.7x -0.01x 26.6% 6.7%
S&P 500 19.1x 16.0x -0.38x 10.6% 5.4%
GO FOR IT• Brand Equity• Innovation• Small Company – Potential Growth