A Business at a Glance
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BROWN FORMAN CORP
BF-B
$12.2B
Mkt Cap
$26.08
+1.48%
BROWN FORMAN CORP (BF-B) has a current P/E ratio of 15.3, compared to its historical median P/E of 33.3. The stock is currently considered Cheap based on its historical valuation range.
BROWN FORMAN CORP (BF-B) has a 5-year average return on invested capital (ROIC) of 17.1%. This indicates strong capital allocation and a potential competitive advantage.
BROWN FORMAN CORP (BF-B) has a market capitalization of $12.2B. It is classified as a large-cap stock.
Yes, BROWN FORMAN CORP (BF-B) pays a dividend with a trailing twelve-month yield of 3.50%. The company also returns capital through share buybacks, with a buyback yield of 3.28%.
Based on historical P/E analysis, BROWN FORMAN CORP (BF-B) appears cheap. The current P/E of 15.3 is 54% below its historical median of 33.3. The estimated fair value CAGR (P/E method) is 1.3%.
BROWN FORMAN CORP (BF-B) operates in the Beverages industry, within the Consumer Defensive sector.
BROWN FORMAN CORP (BF-B) reported annual revenue of $3.9 billion in its most recent fiscal year, based on SEC EDGAR filings.
Brown-Forman Corporation manufactures, distills, bottles, imports, exports, markets, and sells a diverse portfolio of more than 40 spirit, ready-to-drink cocktail, and wine brands globally, with Jack Daniel's Tennessee Whiskey as its flagship and the world's #1 selling American whiskey. The company operates through a mixed distribution model: in the United States, it sells to distributors or state governments due to direct-to-consumer prohibitions, while internationally it employs owned distribution in 16+ markets (including Australia, Brazil, France, Germany, Japan, Mexico, Spain, and the United Kingdom), partner distribution arrangements, and government-controlled channels depending on regulatory frameworks and market attractiveness. The business is characterized by significant inventory requirements due to multi-year aging mandates for whiskeys, tequilas, rums, and other spirits, creating capital-intensive operations with long product development cycles. Brown-Forman competes primarily in premium-and-above price segments against major global competitors including Diageo, Pernod Ricard, and LVMH, differentiating through brand recognition, product quality, packaging, and marketing investments across media, sponsorships, and distillery visitor programs. The company operates across over 170 countries with approximately 5,000 employees, generating 44% of net sales from the United States and 56% from international markets, with Mexico, Germany, Australia, and the United Kingdom as significant secondary markets.
【Premium portfolio expansion】 Management emphasizes building enduring consumer connections through creative marketing platforms and brand-building investments designed to drive brand recognition, trial, and loyalty globally. The company continues to evaluate and adapt its route-to-consumer strategy based on changing market dynamics, regulatory frameworks, and competitive conditions, as evidenced by recent distribution model adjustments including the launch of owned distribution in Italy effective May 1, 2025. Brown-Forman remains committed to sustainable growth and preserving its position as a family-controlled, independent company, leveraging its portfolio quality, geographic reach, talent diversity, and return on investment as core strategic pillars. The company faces a competitive environment with considerable growth opportunities in premium spirits, though it acknowledges ongoing volatility and the need for agility and resilience in its operations.
No forward guidance provided.
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K
| Metric | TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|---|---|
| Revenue | 3.9B | 3.9B | 4.0B | 4.2B | 4.2B | 3.9B |
| Net Income | 715M | 715M | 869M | 1.0B | 783M | 838M |
| EPS | $1.53 | $1.53 | $1.84 | $2.14 | $1.63 | $1.74 |
| Free Cash Flow | 893M | 893M | 431M | 419M | 457M | 798M |
| ROIC | 12.8% | 12.8% | 14.3% | 18.5% | 17.7% | 22.1% |
| Gross Margin | 60.5% | 60.5% | 58.9% | 60.5% | 59.0% | 60.8% |
| Debt/Equity | 0.65 | 0.65 | 0.68 | 0.91 | 0.92 | 0.83 |
| Dividends/Share | $0.91 | $0.92 | $0.89 | $0.85 | $0.79 | $1.74 |
| Operating Income | 1.0B | 1.0B | 1.1B | 1.4B | 1.1B | 1.2B |
| Operating Margin | 25.5% | 25.5% | 27.8% | 33.8% | 26.7% | 30.6% |
| ROE | 17.8% | 17.8% | 23.1% | 30.2% | 26.1% | 31.1% |
| Shares Outstanding | 467M | 467M | 472M | 479M | 480M | 482M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 4.1B | 4.0B | 3.0B | 3.2B | 3.3B | 3.4B | 3.5B | 3.9B | 4.2B | 4.2B | 4.0B | 3.9B | 3.9B |
| Gross Margin | 53.3% | 53.5% | 67.5% | 67.8% | 65.2% | 63.2% | 60.5% | 60.8% | 59.0% | 60.5% | 58.9% | 60.5% | 60.5% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 697M | 688M | 657M | 765M | 641M | 642M | 671M | 690M | 742M | 826M | 744M | 807M | 807M |
| EBIT | 1.0B | 1.5B | 1.0B | 1.0B | 1.1B | 1.1B | 1.2B | 1.2B | 1.1B | 1.4B | 1.1B | 1.0B | 1.0B |
| Op. Margin | 25.1% | 38.2% | 33.7% | 32.3% | 34.4% | 32.4% | 33.7% | 30.6% | 26.7% | 33.8% | 27.8% | 25.5% | 25.5% |
| Net Income | 684M | 1.1B | 669M | 717M | 835M | 827M | 903M | 838M | 783M | 1.0B | 869M | 715M | 715M |
| Net Margin | 16.7% | 26.6% | 22.3% | 22.1% | 25.1% | 24.6% | 26.1% | 21.3% | 18.5% | 24.5% | 21.9% | 18.2% | 18.2% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 46M | 19M | 19M |
| Returns on Capital | |||||||||||||
| ROIC | 29.9% | 43.3% | 22.1% | 20.3% | 26.4% | 23.3% | 24.5% | 22.1% | 17.7% | 18.5% | 14.3% | 12.8% | 12.8% |
| ROE | 35.9% | 68.3% | 45.6% | 53.4% | 50.7% | 45.7% | 39.0% | 31.1% | 26.1% | 30.2% | 23.1% | 17.8% | 17.8% |
| ROA | 16.3% | 25.5% | 15.2% | 14.9% | 16.2% | 15.2% | 14.7% | 13.0% | 11.1% | 12.8% | 10.7% | 8.9% | 9.1% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 608M | 524M | 656M | 653M | 800M | 724M | 817M | 936M | 640M | 647M | 598M | 1.0B | 1.0B |
| Free Cash Flow | 488M | 416M | 544M | 526M | 681M | 611M | 755M | 798M | 457M | 419M | 431M | 893M | 893M |
| Owner Earnings | 542M | 453M | 584M | 570M | 714M | 639M | 728M | 842M | 542M | 535M | 483M | 876M | 876M |
| CapEx | 120M | 108M | 112M | 127M | 119M | 113M | 62M | 138M | 183M | 228M | 167M | 107M | 107M |
| Maint. CapEx | 51M | 56M | 58M | 64M | 72M | 74M | 77M | 79M | 80M | 87M | 87M | 92M | 92M |
| Growth CapEx | 69M | 52M | 54M | 63M | 47M | 39M | 0 | 59M | 103M | 141M | 80M | 15M | 15M |
| D&A | 51M | 56M | 58M | 64M | 72M | 74M | 77M | 79M | 80M | 87M | 87M | 92M | 92M |
| CapEx/OCF | 19.7% | 20.6% | 17.5% | 19.4% | 14.9% | 15.6% | 7.6% | 14.7% | 28.6% | 35.2% | 27.9% | N/A | 10.7% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 256M | 266M | 274M | 773M | 310M | 325M | 338M | 831M | 378M | 404M | 420M | 427M | 427M |
| Dividend Yield | 1.6% | 0.8% | 1.8% | 4.0% | 1.4% | 1.2% | 1.1% | 2.7% | 1.2% | 1.5% | 2.2% | N/A | 3.5% |
| Share Buybacks | 462M | 1.1B | 561M | 1.0M | 207M | 1.0M | 0 | 0 | 0 | 400M | 0 | 400M | 400M |
| Buyback Yield | 2.8% | 6.8% | 3.6% | 0.0% | 0.9% | 0.0% | N/A | N/A | N/A | 1.8% | N/A | 0.0% | 3.3% |
| Stock-Based Comp | 15M | 15M | 14M | 19M | 14M | 11M | 12M | 15M | 18M | 25M | 28M | 32M | 32M |
| Debt Repayment | 0 | 250M | 0 | 250M | 0 | 0 | 0 | 0 | 250M | 0 | 300M | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 443M | 975M | 2.0B | 2.3B | 1.8B | 1.9B | 1.4B | 1.4B | 2.6B | 2.8B | 2.3B | 2.3B | 2.3B |
| Cash & Equiv. | 370M | 263M | 182M | 239M | 307M | 675M | 1.1B | 868M | 374M | 446M | 444M | 308M | 308M |
| Long-Term Debt | 743M | 1.2B | 1.7B | 2.3B | 2.3B | 2.3B | 2.4B | 2.0B | 2.7B | 2.4B | 2.4B | 2.1B | 2.1B |
| Debt/Equity | 0.62 | 0.96 | 1.57 | 1.94 | 1.48 | 1.32 | 0.96 | 0.83 | 0.92 | 0.91 | 0.68 | 0.65 | 0.65 |
| Interest Coverage | 38.0 | 33.3 | 17.1 | 15.4 | 13.0 | 13.3 | 14.4 | 14.7 | 12.5 | 11.1 | 9.1 | 9.7 | 9.7 |
| Equity | 1.9B | 1.6B | 1.4B | 1.3B | 1.6B | 2.0B | 2.7B | 2.7B | 3.3B | 3.5B | 4.0B | 4.0B | 4.0B |
| Total Assets | 4.2B | 4.2B | 4.6B | 5.0B | 5.1B | 5.8B | 6.5B | 6.4B | 7.8B | 8.2B | 8.1B | 7.9B | 7.9B |
| Total Liabilities | 2.3B | 2.6B | 3.3B | 3.7B | 3.5B | 3.8B | 3.9B | 3.6B | 4.5B | 4.6B | 4.1B | 3.9B | 3.9B |
| Intangibles | 611M | 595M | 641M | 670M | 645M | 635M | 676M | 586M | 1.2B | 990M | 981M | 943M | 943M |
| Retained Earnings | 3.3B | 4.1B | 4.5B | 1.7B | 2.2B | 2.7B | 3.2B | 3.2B | 3.6B | 4.3B | 4.7B | 5.0B | 5.0B |
| Working Capital | 1.3B | 1.4B | 1.4B | 1.7B | 2.0B | 2.4B | 3.0B | 2.7B | 2.7B | 2.5B | 3.1B | 2.8B | 2.8B |
| Current Assets | 2.3B | 2.2B | 2.4B | 2.6B | 2.7B | 3.3B | 3.9B | 3.8B | 3.8B | 4.0B | 4.2B | 4.0B | 4.0B |
| Current Liabilities | 958M | 791M | 970M | 821M | 703M | 880M | 918M | 1.0B | 1.1B | 1.6B | 1.1B | 1.2B | 1.2B |
| Per Share Data | |||||||||||||
| EPS | 1.28 | 1.04 | 1.37 | 1.48 | 1.73 | 1.72 | 1.88 | 1.74 | 1.63 | 2.14 | 1.84 | 1.53 | 1.53 |
| Owner EPS | 1.02 | 0.44 | 1.20 | 1.18 | 1.48 | 1.33 | 1.52 | 1.75 | 1.13 | 1.12 | 1.02 | 1.87 | 1.87 |
| Book Value | 3.58 | 1.53 | 2.81 | 2.72 | 3.41 | 4.11 | 5.53 | 5.68 | 6.80 | 7.35 | 8.45 | 8.60 | 8.60 |
| Cash Flow/Share | 1.14 | 0.51 | 1.34 | 1.35 | 1.66 | 1.51 | 1.70 | 1.94 | 1.33 | 1.35 | 1.27 | 2.14 | 1.73 |
| Dividends/Share | 0.48 | 0.52 | 0.56 | 1.61 | 0.65 | 0.68 | 0.71 | 1.74 | 0.79 | 0.85 | 0.89 | 0.92 | 0.91 |
| Shares Out. | 532.7M | 1.0B | 488.3M | 484.5M | 482.7M | 480.8M | 480.3M | 481.6M | 480.4M | 478.5M | 472.3M | 467.3M | 467.3M |
| Valuation | |||||||||||||
| P/E Ratio | 23.8 | 15.4 | 23.6 | 33.3 | 27.6 | 33.7 | 36.9 | 36.8 | 37.6 | 21.5 | 18.1 | N/A | 17.0 |
| P/FCF | 33.4 | 78.8 | 29.0 | 45.4 | 33.8 | 45.6 | 44.1 | 38.6 | 64.5 | 52.6 | 36.5 | N/A | 13.6 |
| EV/EBIT | 16.3 | 11.3 | 17.7 | 24.8 | 21.7 | 26.7 | 28.8 | 26.1 | 28.1 | 17.1 | 15.9 | N/A | 14.5 |
| Price/Book | 8.6 | 10.5 | 11.5 | 18.2 | 14.0 | 14.1 | 12.5 | 11.3 | 9.0 | 6.3 | 3.9 | N/A | 3.0 |
| Price/Sales | 3.9 | 4.2 | 4.0 | 6.0 | 6.5 | 7.8 | 9.1 | 8.0 | 7.2 | 6.5 | 4.7 | N/A | 3.1 |
| FCF Yield | 3.0% | 2.5% | 3.5% | 2.2% | 3.0% | 2.2% | 2.3% | 2.6% | 1.6% | 1.9% | 2.7% | N/A | 7.3% |
| Market Cap | 16.3B | 16.4B | 15.8B | 23.9B | 23.1B | 27.9B | 33.3B | 30.8B | 29.5B | 22.0B | 15.7B | 0 | 12.2B |
| Avg. Price | 30.04 | 33.28 | 31.91 | 40.24 | 44.75 | 54.51 | 65.65 | 65.07 | 63.60 | 56.77 | 39.85 | 0.00 | 26.08 |
| Year-End Price | 30.58 | 32.06 | 32.27 | 49.31 | 47.76 | 58.00 | 69.37 | 64.04 | 61.36 | 46.02 | 33.31 | 0.00 | 26.08 |
BROWN FORMAN CORP passes 5 of 9 quality checks, suggesting mixed fundamentals.
BROWN FORMAN CORP trades at 15.3x trailing earnings, compared to its 15-year median P/E of 33.3x, suggesting it is currently Cheap relative to its historical range. On a free-cash-flow basis, the stock trades at 7.2x vs a median of 44.1x. The company's 5-year average ROIC is 17.1% with a gross margin of 59.9%. Total shareholder yield (dividends + buybacks) is 6.8%. At current prices, the estimated annualized return to fair value is +12.7%.
BROWN FORMAN CORP (BF-B) has a net profit margin of 18.2%. This is a healthy margin.
BROWN FORMAN CORP (BF-B) generated $893 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
BROWN FORMAN CORP (BF-B) has a debt-to-equity ratio of 0.65. This indicates moderate leverage.
BROWN FORMAN CORP (BF-B) reported earnings per share (EPS) of $1.53 in its most recent fiscal year.
BROWN FORMAN CORP (BF-B) has a return on equity (ROE) of 17.8%. This indicates the company generates strong returns for shareholders.
BROWN FORMAN CORP (BF-B) has a 5-year average gross margin of 59.9%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 18 years of financial data for BROWN FORMAN CORP (BF-B), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
BROWN FORMAN CORP (BF-B) has a book value per share of $8.60, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management emphasizes building enduring consumer connections through creative marketing platforms and brand-building investments designed to drive brand recognition, trial, and loyalty globally. The company continues to evaluate and adapt its route-to-consumer strategy based on changing market dynamics, regulatory frameworks, and competitive conditions, as evidenced by recent distribution model adjustments including the launch of owned distribution in Italy effective May 1, 2025. Brown-Forman remains committed to sustainable growth and preserving its position as a family-controlled, independent company, leveraging its portfolio quality, geographic reach, talent diversity, and return on investment as core strategic pillars. The company faces a competitive environment with considerable growth opportunities in premium spirits, though it acknowledges ongoing volatility and the need for agility and resilience in its operations.
No recent press releases.