BROWN FORMAN CORP BF-B

Consumer staples SIC 2080 - Beverages NAICS Manufacturing › Beverage and Tobacco Product Manufacturing › Beverage Manufacturing derived NYSE

Brown-Forman Corporation (the "Company," "Brown-Forman," "we," "us," or "our" below) was incorporated under the laws of the State of Delaware in 1933, successor to a business founded in 1870 as a partnership and later incorporated under the laws of the Commonwealth of Kentucky in 1901. We primarily manufacture, distill, bottle, import, export, market, and sell a wide variety of beverage alcohol products under recognized brands. We employ approximately 4,900 people (excluding individuals who work on a part-time or temporary basis) on six continents, including approximately 1,900 people in the United States (approximately 7% of whom are represented by a union) and 700 people in Louisville, Kentucky, USA, home of our world headquarters. According to International Wine & Spirit Research (IWSR), we are the largest American-owned premium-plus spirits company. We are a "controlled company" under New York Stock Exchange rules because the Brown family owns more than 50% of our voting stock.

Last close 29.41 2026-10-23
Market cap $13.49B estimated share count
52-week range 22.61 - 31.92

Valuation FY2025 figures against the last close

P/S3.4x
P/E19.2x
P/FCF15.1x
EV/EBITDA15.6x
Dividend yield3.2%
Diluted EPS1.53

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $3.93B$3.98B$4.18B$4.23B$3.93B$3.46B$3.36B$3.32B$3.25B$2.99B
Cost of revenue $1.55B$1.63B$1.65B$1.73B$1.54B$1.37B$1.24B$1.16B$1.05B$973.0M
Gross profit $2.38B$2.34B$2.53B$2.49B$2.39B$2.09B$2.13B$2.17B$2.20B$2.02B
SG&A $807.0M$744.0M$826.0M$742.0M$690.0M$671.0M$642.0M$641.0M$765.0M$657.0M
Operating income $1.00B$1.11B$1.41B$1.13B$1.20B$1.17B$1.09B$1.14B$1.05B$1.01B
Interest expense $103.0M$122.0M$127.0M$90.0M$82.0M$81.0M$82.0M$88.0M$68.0M$59.0M
Pre-tax income $885.0M$1.08B$1.30B$1.02B$1.11B$1.08B$1.01B$1.04B$977.0M$933.0M
Income tax $170.0M$212.0M$274.0M$234.0M$276.0M$178.0M$182.0M$207.0M$260.0M$264.0M
Net income $715.0M$869.0M$1.02B$783.0M$838.0M$903.0M$827.0M$835.0M$717.0M$669.0M
EPS, basic 1.531.842.151.631.751.891.731.741.491.38
EPS, diluted 1.531.842.141.631.741.881.721.731.481.37
Shares, diluted (wtd. avg.) 466.7M472.9M477.2M480.5M480.6M480.7M480.4M482.1M484.2M488.1M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $308.0M$444.0M$446.0M$384.0M$874.0M$1.15B$675.0M$307.0M$239.0M$182.0M
Receivables $832.0M$830.0M$769.0M$855.0M$813.0M$753.0M$570.0M$609.0M$639.0M$557.0M
Inventory $2.54B$2.51B$2.56B$2.28B$1.82B$1.75B$1.69B$1.52B$1.38B$1.27B
Total current assets $3.99B$4.20B$4.04B$3.80B$3.78B$3.92B$3.27B$2.72B$2.56B$2.35B
Property, plant and equipment $1.12B$1.09B$1.07B$1.03B$875.0M$832.0M$848.0M$816.0M$780.0M$713.0M
Goodwill $1.52B$1.50B$1.46B$1.46B$761.0M$779.0M$756.0M$753.0M$763.0M$753.0M
Other intangibles $943.0M$981.0M$990.0M$1.16B$586.0M$676.0M$635.0M$645.0M$670.0M$641.0M
Total assets $7.89B$8.09B$8.17B$7.78B$6.37B$6.52B$5.77B$5.14B$4.98B$4.62B
Short-term debt $351.0M$0$300.0M$0$250.0M$0$333.0M$150.0M$215.0M$249.0M
Total current liabilities $1.23B$1.08B$1.56B$1.08B$1.03B$918.0M$880.0M$703.0M$821.0M$970.0M
Long-term debt $2.08B$2.42B$2.37B$2.68B$2.02B$2.35B$2.27B$2.29B$2.34B$1.69B
Total liabilities $3.87B$4.09B$4.65B$4.51B$3.64B$3.87B$3.79B$3.49B$3.66B$3.25B
Retained earnings $5.00B$4.71B$4.26B$3.64B$3.24B$3.24B$2.71B$2.24B$1.73B$4.47B
Total equity $4.02B$3.99B$3.52B$3.27B$2.74B$2.66B$1.98B$1.65B$1.32B$1.37B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $1.00B$598.0M$647.0M$640.0M$936.0M$817.0M$724.0M$800.0M$653.0M$656.0M
Stock-based compensation $32.0M$28.0M$25.0M$18.0M$15.0M$12.0M$11.0M$14.0M$19.0M$14.0M
Capital expenditure $107.0M$167.0M$228.0M$183.0M$138.0M$62.0M$113.0M$119.0M$127.0M$112.0M
Investing cash flow -$71.0M$249.0M$49.0M-$1.35B-$127.0M$98.0M-$141.0M-$119.0M-$149.0M-$439.0M
Financing cash flow -$1.07B-$843.0M-$618.0M$239.0M-$1.04B-$485.0M-$191.0M-$599.0M-$466.0M-$285.0M
Dividends paid $427.0M$420.0M$404.0M$378.0M$831.0M$338.0M$325.0M$310.0M$773.0M$274.0M
Buybacks $400.0M$0$400.0M$0$0$0$1.0M$207.0M$1.0M$561.0M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-275853.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 2B 4B 6B Revenue, FY2016: 3B Gross profit, FY2016: 2B Net income, FY2016: 669M Revenue, FY2017: 3.2B Gross profit, FY2017: 2.2B Net income, FY2017: 717M Revenue, FY2018: 3.3B Gross profit, FY2018: 2.2B Net income, FY2018: 835M Revenue, FY2019: 3.4B Gross profit, FY2019: 2.1B Net income, FY2019: 827M Revenue, FY2020: 3.5B Gross profit, FY2020: 2.1B Net income, FY2020: 903M Revenue, FY2021: 3.9B Gross profit, FY2021: 2.4B Net income, FY2021: 838M Revenue, FY2022: 4.2B Gross profit, FY2022: 2.5B Net income, FY2022: 783M Revenue, FY2023: 4.2B Gross profit, FY2023: 2.5B Net income, FY2023: 1B Revenue, FY2024: 4B Gross profit, FY2024: 2.3B Net income, FY2024: 869M Revenue, FY2025: 3.9B Gross profit, FY2025: 2.4B Net income, FY2025: 715M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $2.99B $3.25B $3.32B $3.36B $3.46B $3.93B $4.23B $4.18B $3.98B $3.93B
Gross profit $2.02B $2.20B $2.17B $2.13B $2.09B $2.39B $2.49B $2.53B $2.34B $2.38B
Net income $669.0M $717.0M $835.0M $827.0M $903.0M $838.0M $783.0M $1.02B $869.0M $715.0M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01
  • Officer or director change Item 5.02
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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