SAM
The Boston Beer Company, Inc.
Is SAM Halal?
Brewer and producer of alcoholic beverages (Samuel Adams, Truly, Twisted Tea) — alcohol production is an explicit business-activity disqualifier.
What You Should Know
The Boston Beer Company, Inc. produces and sells beer, hard seltzer, hard cider and flavored malt beverages under Samuel Adams, Truly, Twisted Tea, Angry Orchard and Dogfish Head. Its March 28, 2026 Form 10-Q reports $1,171.049 million of assets, $164.124 million of cash, $86.935 million of accounts receivable and $433.930 million of net revenue; no separate interest-bearing debt or securities balance is identified. The core alcohol business is an explicit activity-level disqualifier regardless of the financial ratios, and the filing's $1.890 million net interest income does not create a purification remedy.
⚠️ Concerns
- •Boston Beer's primary business is producing and selling alcoholic beverages (khamr), an explicit activity-level disqualifier
- •Alcohol revenue is expected to be overwhelmingly dominant and above any incidental-revenue tolerance
- •Financial ratios cannot cure a prohibited core business and purification is not a remedy
- •Non-alcoholic experiments remain ancillary to an alcohol-centric business
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-28; calculated 2026-07-15.
0 / 1,171.049
164.124 / 1,171.049
251.059 / 1,171.049
1.89 / 433.93
- Financial
- Pass
- Overall
- Fails
Known asset-based financial ratios pass the examined limits, but the core alcohol business fails the activity screen.
- Financial
- Pass
- Overall
- Fails
Known asset-based financial ratios pass the examined limits; the overall result fails because alcohol is the core business, not an index-membership claim.
- Financial
- Pass
- Overall
- Fails
Known financial ratios pass the examined Malaysia limits, but the activity screen fails; this is not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A licensed historical market-cap series is not stored; market-cap analysis cannot override the failed alcohol activity screen.
Business-activity disclosure
Boston Beer produces and sells alcoholic beverages including Samuel Adams beer, Truly Hard Seltzer, Twisted Tea, Angry Orchard and Dogfish Head products. Production and sale of khamr is an explicit business-activity disqualifier; any non-alcoholic experiments do not change the core activity assessment.
Limitation: The filing does not provide a universal Sharia revenue taxonomy, but the company's named brands and reported business model identify alcohol as the core activity.
Purification
Purification is not a remedy for an investment whose core business is producing and selling alcohol.
Inputs, assumptions and primary sources
- Amounts are USD millions from Boston Beer's March 28, 2026 Form 10-Q.
- The balance sheet reports no separate interest-bearing borrowings; operating lease liabilities are excluded.
- Cash and cash equivalents are $164.124 million and no separate interest-bearing securities balance is identified.
- Accounts receivable, net is $86.935 million; income tax and note receivables are excluded.
- First-quarter net revenue is $433.930 million and interest income, net is $1.890 million; net revenue is used as a conservative disclosed proxy for core alcohol revenue because the filing does not provide a universal Sharia product taxonomy.
- Beer, hard seltzer, hard cider and flavored malt beverages are alcoholic products and are the core business activity.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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