Boston Beer CoMEX:SAM 69 ROC (Joel Greenblatt) % is 14.40% as of Mar. 2026, which is 47% below its 10-year median of 26.94. GuruFocus rates MEX:SAM with a GF Score™ of 69/100 and a GF Value™ of MXN5,535.20 (Significantly Undervalued). Among 212 Beverages - Alcoholic companies, Boston Beer Co ranks better than 66.51% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Boston Beer Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 14.40%.
The historical rank and industry rank for Boston Beer Co's ROC (Joel Greenblatt) % or its related term are showing as below:
MEX:SAM'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 8.07 Med: 26.94 Max: 38.96
Current: 22.41
During the past 13 years, Boston Beer Co's highest ROC (Joel Greenblatt) % was 38.96%. The lowest was 8.07%. And the median was 26.94%.
MEX:SAM's ROC (Joel Greenblatt) % is ranked better than 66.51% of 212
companies
in the Beverages - Alcoholic industry
Industry Median: 11.825
vs MEX:SAM: 22.41
Boston Beer Co's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 2.20% per year.
Boston Beer Co (MEX:SAM) ROC (Joel Greenblatt) % Explanation
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
Boston Beer Co ROC (Joel Greenblatt) % Related Terms
Boston Beer Co ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Boston Beer Co's ROC (Joel Greenblatt) % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
MEX:SAM vs TAP, BUD, STZ: ROC (Joel Greenblatt) % Comparison
For the Beverages - Brewers subindustry, Boston Beer Co's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Boston Beer Co ROC (Joel Greenblatt) % vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, Boston Beer Co's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Boston Beer Co's ROC (Joel Greenblatt) % falls into.
Boston Beer Co ROC (Joel Greenblatt) % Calculation
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a ROC (Joel Greenblatt) % of 14.40% mean?
Boston Beer Co (MEX:SAM) has a ROC (Joel Greenblatt) % of 14.40% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Boston Beer Co and its competitors. This is 47% below median its historical median of 26.94. Over the past decade, Boston Beer Co's ROC (Joel Greenblatt) % has ranged from 8.07 to 38.96. According to the industry distribution chart, Boston Beer Co ranks #71 out of 212 companies in the Beverages - Alcoholic industry, placing it in the top 33.5%.
Is Boston Beer Co's ROC (Joel Greenblatt) % too high?
Boston Beer Co's current ROC (Joel Greenblatt) % of 14.40% is 47% below median its 10-year median of 26.94. Over the past 10 years, this metric has ranged from a low of 8.07 to a high of 38.96. The Beverages - Alcoholic industry median ROC (Joel Greenblatt) % is 11.83. Boston Beer Co's value of 14.40% is 21.8% above this industry median. Based on the distribution chart, Boston Beer Co ranks #71 out of 212 companies in the Beverages - Alcoholic industry, which is above the industry midpoint. Overall, Boston Beer Co has a GF Score™ of 69/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Boston Beer Co's ROC (Joel Greenblatt) % compare to TAP and BUD?
According to the Beverages - Alcoholic industry distribution chart, Boston Beer Co ranks #71 out of 212 companies for ROC (Joel Greenblatt) %. This puts Boston Beer Co in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 11.83. Boston Beer Co's value of 14.40% is 21.8% above this benchmark. Historically, Boston Beer Co's own ROC (Joel Greenblatt) % has ranged from 8.07 to 38.96 over the past decade. While the company's 10-year median is 26.94 vs. the industry median of 11.83, Boston Beer Co has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC (Joel Greenblatt) % for a Beverages - Alcoholic company?
The median ROC (Joel Greenblatt) % among Beverages - Alcoholic companies is 11.83, based on 212 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Boston Beer Co's current ROC (Joel Greenblatt) % of 14.40% is 21.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Boston Beer Co and its competitors. For the Beverages - Alcoholic industry, the median ROC (Joel Greenblatt) % is 11.83 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Boston Beer Co's current ROC (Joel Greenblatt) % is 14.40%, which is 47% below median its own 10-year median of 26.94. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Boston Beer Co stock overvalued right now?
Based on GuruFocus' analysis, Boston Beer Co (MEX:SAM) is currently considered Significantly Undervalued. The stock's GF Value™ is MXN5,535.20, compared to a current price of MXN3,295.00 — trading 40.5% below its estimated fair value. The current ROC (Joel Greenblatt) % is 14.40%, which is 47% below median its 10-year median of 26.94 and 21.8% above the Beverages - Alcoholic industry median of 11.83. Boston Beer Co's overall GF Score™ is 69/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Boston Beer Co (MEX:SAM), the current ROC (Joel Greenblatt) % is 14.40% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Boston Beer Co (MEX:SAM) Overvalued in 2026?
Based on GuruFocus' analysis, Boston Beer Co stock appears to be undervalued.
The current stock price of MXN3,295.00 is trading 40.5% below its estimated GF Value™ of MXN5,535.20.
GuruFocus considers Boston Beer Co to be Significantly Undervalued.
Key valuation signals for MEX:SAM:
ROC (Joel Greenblatt) %: 14.40% (47% below median its 10-year median of 26.94)
GF Value™: MXN5,535.20 vs. price of MXN3,295.00 (40.5% below fair value)
Industry Position: 21.8% above the Beverages - Alcoholic median (#71 of 212)
No single metric tells the full story. See the MEX:SAM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Boston Beer is a top player in high-end malt beverages and adjacent categories in the US, with strong positions in craft beer, flavored malt beverages, hard cider, and hard seltzer. The bulk of volume and revenue is concentrated in four brands: Samuel Adams, Angry Orchard, Twisted Tea, and Truly. Beverages are produced using a hybrid model leveraging both in-house capacities and third-party breweries through contract arrangements. While the firm is required to use distributors to reach end markets, including retailers and on-premises operators, it also employs 500 internal sales representatives to educate the market about its products. The firm generates almost all sales in the US.
69GF Score
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