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Brown-Forman (BF.B) Financials

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$34.42 +0.56 (+1.66%)
As of 09:38 AM Eastern
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Annual Income Statements for Brown-Forman

Annual Income Statements for Brown-Forman

This table shows Brown-Forman's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 4/30/2024 4/30/2023 4/30/2022 4/30/2021 4/30/2020 4/30/2019 4/30/2018 4/30/2017 4/30/2016 4/30/2015
Net Income / (Loss) Attributable to Common Shareholders
1,024 783 838 903 827 835 717 669 1,067 684
Consolidated Net Income / (Loss)
1,024 783 838 903 827 835 717 669 1,067 684
Net Income / (Loss) Continuing Operations
1,024 783 838 903 827 835 717 669 1,067 684
Total Pre-Tax Income
1,298 1,017 1,114 1,081 1,009 1,042 977 933 1,489 1,002
Total Operating Income
1,414 1,127 1,204 1,166 1,091 1,144 1,048 1,010 1,533 1,027
Total Gross Profit
2,526 2,494 2,391 2,094 2,127 2,166 2,202 2,021 2,144 2,183
Total Revenue
5,328 5,372 5,081 4,526 4,306 4,276 4,201 3,857 4,011 4,096
Operating Revenue
5,328 5,372 5,081 4,526 4,306 4,276 4,201 3,857 4,011 4,096
Total Cost of Revenue
2,802 2,878 2,690 2,432 2,179 2,110 1,999 1,836 1,867 1,913
Operating Cost of Revenue
2,802 2,878 2,690 2,432 2,179 2,110 1,999 1,836 1,867 1,913
Total Operating Expenses
1,112 1,367 1,187 928 1,036 1,022 1,154 1,011 611 1,156
Selling, General & Admin Expense
826 742 690 671 642 641 765 657 688 697
Marketing Expense
529 506 438 399 383 396 405 372 417 437
Other Operating Expenses / (Income)
24 119 59 -15 11 -15 -16 -18 -9.00 22
Other Special Charges / (Income)
-267 0.00 0.00 -127 0.00 0.00 - - -485 0.00
Total Other Income / (Expense), net
-116 -110 -90 -85 -82 -102 -71 -77 -44 -25
Interest Expense
127 90 82 81 82 88 68 59 46 27
Interest & Investment Income
14 9.00 5.00 2.00 5.00 8.00 6.00 3.00 2.00 2.00
Other Income / (Expense), net
-3.00 -29 -13 -6.00 -5.00 -22 -9.00 -21 - -
Income Tax Expense
274 234 276 178 182 207 260 264 422 318
Basic Earnings per Share
$2.15 $1.63 $1.75 $1.89 $1.73 $1.74 $1.49 $1.38 $2.10 $1.62
Weighted Average Basic Shares Outstanding
472.66M 479.36M 479.05M 478.76M 478.24M 479.90M 481.20M 484.64M 405.95M 211.59M
Diluted Earnings per Share
$2.14 $1.63 $1.74 $1.88 $1.72 $1.73 $1.48 $1.37 $2.09 $1.60
Weighted Average Diluted Shares Outstanding
472.66M 479.36M 479.05M 478.76M 478.24M 479.90M 481.20M 484.64M 405.95M 211.59M
Weighted Average Basic & Diluted Shares Outstanding
472.66M 479.36M 479.05M 478.76M 478.24M 479.90M 481.20M 484.64M 405.95M 211.59M
Cash Dividends to Common per Share
$0.85 $0.79 $1.74 $0.71 $0.68 $0.65 $1.61 $0.56 $0.52 $1.21

Quarterly Income Statements for Brown-Forman

This table shows Brown-Forman's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023
Period end date 1/31/2025 10/31/2024 7/31/2024 4/30/2024 1/31/2024 10/31/2023 7/31/2023 4/30/2023 1/31/2023 10/31/2022 7/31/2022
Net Income / (Loss) Attributable to Common Shareholders
270 258 195 266 285 242 231 207 100 227 249
Consolidated Net Income / (Loss)
270 258 195 266 285 242 231 207 100 227 249
Net Income / (Loss) Continuing Operations
270 258 195 266 285 242 231 207 100 227 249
Total Pre-Tax Income
332 313 253 347 342 310 299 269 124 298 326
Total Operating Income
280 341 281 375 373 339 327 298 173 313 343
Total Gross Profit
619 646 565 569 635 671 651 635 624 613 622
Total Revenue
1,348 1,376 1,211 1,191 1,406 1,405 1,326 1,294 1,406 1,384 1,288
Operating Revenue
1,348 1,376 1,211 1,191 1,406 1,405 1,326 1,294 1,406 1,384 1,288
Total Cost of Revenue
729 730 646 622 771 734 675 659 782 771 666
Operating Cost of Revenue
729 730 646 622 771 734 675 659 782 771 666
Total Operating Expenses
339 305 284 194 262 332 324 337 451 300 279
Selling, General & Admin Expense
178 187 188 231 203 192 200 201 186 180 175
Marketing Expense
125 126 126 115 143 140 131 134 141 121 110
Other Operating Expenses / (Income)
5.00 -8.00 -30 115 6.00 0.00 -7.00 2.00 124 -1.00 -6.00
Restructuring Charge
31 - - - 0.00 - - - - - -
Other Special Charges / (Income)
0.00 - - - -90 - - - - - -
Total Other Income / (Expense), net
52 -28 -28 -28 -31 -29 -28 -29 -49 -15 -17
Interest Expense
31 32 32 34 33 31 29 29 24 18 19
Interest & Investment Income
86 5.00 4.00 7.00 3.00 2.00 2.00 2.00 2.00 3.00 2.00
Other Income / (Expense), net
-3.00 -1.00 0.00 -1.00 -1.00 0.00 -1.00 -2.00 -27 0.00 0.00
Income Tax Expense
62 55 58 81 57 68 68 62 24 71 77
Basic Earnings per Share
$0.57 $0.55 $0.41 $0.57 $0.60 $0.50 $0.48 $0.43 $0.21 $0.47 $0.52
Weighted Average Basic Shares Outstanding
472.67M 472.66M 472.66M 472.66M 472.52M 475.62M 479.39M 479.36M 479.24M 479.15M 479.12M
Diluted Earnings per Share
$0.57 $0.55 $0.41 $0.56 $0.60 $0.50 $0.48 $0.43 $0.21 $0.47 $0.52
Weighted Average Diluted Shares Outstanding
472.67M 472.66M 472.66M 472.66M 472.52M 475.62M 479.39M 479.36M 479.24M 479.15M 479.12M
Weighted Average Basic & Diluted Shares Outstanding
472.67M 472.66M 472.66M 472.66M 472.52M 475.62M 479.39M 479.36M 479.24M 479.15M 479.12M

Annual Cash Flow Statements for Brown-Forman

This table details how cash moves in and out of Brown-Forman's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 4/30/2024 4/30/2023 4/30/2022 4/30/2021 4/30/2020 4/30/2019 4/30/2018 4/30/2017 4/30/2016 4/30/2015
Net Change in Cash & Equivalents
72 -490 -276 475 368 68 57 -81 -107 -67
Net Cash From Operating Activities
647 640 936 817 724 800 653 656 524 608
Net Cash From Continuing Operating Activities
647 640 936 817 724 800 653 656 524 608
Net Income / (Loss) Continuing Operations
1,024 783 838 903 827 835 717 669 1,067 684
Consolidated Net Income / (Loss)
1,024 783 838 903 827 835 717 669 1,067 684
Depreciation Expense
87 80 79 77 74 72 64 58 56 51
Non-Cash Adjustments To Reconcile Net Income
-228 132 107 -138 39 22 11 25 -468 24
Changes in Operating Assets and Liabilities, net
-236 -355 -88 -25 -216 -129 -139 -96 -131 -151
Net Cash From Investing Activities
49 -1,355 -127 98 -141 -119 -149 -439 433 -125
Net Cash From Continuing Investing Activities
49 -1,355 -127 98 -141 -119 -149 -439 433 -125
Purchase of Property, Plant & Equipment
-228 -183 -138 -62 -113 -121 -128 -115 -110 -121
Acquisitions
0.00 -1,195 0.00 -14 -22 0.00 0.00 -307 0.00 -4.00
Divestitures
246 0.00 0.00 177 0.00 0.00 0.00 0.00 543 0.00
Other Investing Activities, net
31 23 11 -3.00 -6.00 2.00 -21 -17 - -
Net Cash From Financing Activities
-618 239 -1,038 -485 -191 -599 -466 -285 -1,060 -531
Net Cash From Continuing Financing Activities
-618 239 -1,038 -485 -191 -599 -466 -285 -1,060 -531
Repayment of Debt
186 -631 -207 -491 178 -71 -259 -157 -175 183
Repurchase of Common Equity
-400 0.00 0.00 0.00 -1.00 -207 -1.00 -561 -1,107 -462
Payment of Dividends
-404 -378 -831 -338 -325 -310 -773 -274 -266 -256
Issuance of Debt
0.00 1,248 0.00 344 0.00 0.00 595 717 490 0.00
Effect of Exchange Rate Changes
-6.00 - - 45 -24 -14 19 -13 -4.00 -19
Cash Interest Paid
125 85 80 79 83 90 65 48 41 27
Cash Income Taxes Paid
242 278 226 204 143 201 200 266 430 375

Quarterly Cash Flow Statements for Brown-Forman

This table details how cash moves in and out of Brown-Forman's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023
Period end date 1/31/2025 10/31/2024 7/31/2024 4/30/2024 1/31/2024 10/31/2023 7/31/2023 4/30/2023 1/31/2023 10/31/2022 7/31/2022
Net Change in Cash & Equivalents
194 - -30 -143 209 -46 52 -53 -659 191 31
Net Cash From Operating Activities
317 112 17 285 265 59 38 230 94 143 173
Net Cash From Continuing Operating Activities
317 112 17 285 265 59 38 230 94 143 173
Net Income / (Loss) Continuing Operations
270 258 195 266 285 242 231 207 100 227 249
Consolidated Net Income / (Loss)
270 258 195 266 285 242 231 207 100 227 249
Depreciation Expense
22 22 22 21 25 20 21 21 20 19 20
Non-Cash Adjustments To Reconcile Net Income
-67 7.00 -6.00 -154 -85 9.00 2.00 6.00 84 27 15
Changes in Operating Assets and Liabilities, net
92 -175 -194 152 40 -212 -216 -4.00 -110 -130 -111
Net Cash From Investing Activities
305 -31 10 -14 124 -17 -44 -55 -1,242 -24 -34
Net Cash From Continuing Investing Activities
305 -31 10 -14 124 -17 -44 -55 -1,242 -24 -34
Purchase of Property, Plant & Equipment
-45 -31 -41 -80 -69 -30 -49 -67 -55 -28 -33
Net Cash From Financing Activities
-417 -78 -51 -406 -189 -73 50 -229 467 95 -94
Net Cash From Continuing Financing Activities
-417 -78 -51 -406 -189 -73 50 -229 467 95 -94
Repayment of Debt
-310 25 54 -306 272 67 153 -783 -34 186 0.00
Payment of Dividends
-107 -103 -103 -104 -103 -98 -99 -99 -99 -90 -90

Annual Balance Sheets for Brown-Forman

This table presents Brown-Forman's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 4/30/2024 4/30/2023 4/30/2022 4/30/2021 4/30/2020 4/30/2019 4/30/2018 4/30/2017 4/30/2016 4/30/2015
Total Assets
8,166 7,777 6,373 6,522 5,766 5,139 4,976 4,625 4,183 4,188
Total Current Assets
4,036 3,801 3,776 3,917 3,265 2,719 2,555 2,351 2,233 2,254
Cash & Equivalents
446 374 868 1,150 675 307 239 182 263 370
Accounts Receivable
769 855 813 753 570 609 639 557 559 583
Inventories, net
2,556 2,283 1,818 1,751 1,685 1,520 1,379 1,270 1,054 953
Other Current Assets
265 - - - - - - - - -
Other Current Nonoperating Assets
0.00 - - - - - - - - -
Plant, Property, & Equipment, net
1,074 1,031 875 832 848 816 780 713 629 586
Total Noncurrent Assets
3,056 2,945 1,722 1,773 1,653 1,604 1,641 1,561 1,321 1,348
Long-Term Investments
270 3.00 - - - - - - - -
Goodwill
1,455 1,457 761 779 756 753 763 753 590 607
Intangible Assets
990 1,164 586 676 635 645 670 641 595 611
Noncurrent Deferred & Refundable Income Taxes
69 66 74 70 15 16 16 16 17 18
Other Noncurrent Operating Assets
272 255 301 248 247 190 192 151 119 112
Total Liabilities & Shareholders' Equity
8,166 7,777 6,373 6,522 5,766 5,139 4,976 4,625 4,183 4,188
Total Liabilities
4,649 4,509 3,636 3,866 3,791 3,492 3,660 3,255 2,621 2,283
Total Current Liabilities
1,559 1,084 1,034 918 880 703 821 970 791 958
Short-Term Debt
728 235 250 205 333 150 215 460 271 440
Accounts Payable
793 827 703 679 517 544 581 501 501 497
Current Deferred & Payable Income Tax Liabilities
38 22 81 34 30 9.00 25 9.00 19 12
Total Noncurrent Liabilities
3,090 3,425 2,602 2,948 2,911 2,789 2,839 2,285 1,830 1,325
Long-Term Debt
2,372 2,678 2,019 2,354 2,269 2,290 2,341 1,689 1,230 743
Noncurrent Deferred & Payable Income Tax Liabilities
315 323 219 169 177 145 85 152 101 107
Noncurrent Employee Benefit Liabilities
160 171 183 219 297 197 191 314 353 311
Other Noncurrent Operating Liabilities
243 253 181 206 168 157 222 130 146 164
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
3,517 3,268 2,737 2,656 1,975 1,647 1,316 1,370 1,562 1,905
Total Preferred & Common Equity
3,517 3,268 2,737 2,656 1,975 1,647 1,316 1,370 1,562 1,905
Total Common Equity
3,517 3,268 2,737 2,656 1,975 1,647 1,316 1,370 1,562 1,905
Common Stock
85 73 72 72 72 72 76 133 148 133
Retained Earnings
4,261 3,643 3,242 3,243 2,708 2,238 1,730 4,470 4,065 3,300
Treasury Stock
-608 -213 -225 -237 -258 -300 -112 -2,843 -2,301 -1,228
Accumulated Other Comprehensive Income / (Loss)
-221 -235 -352 -422 -547 -363 -378 -390 -350 -300

Quarterly Balance Sheets for Brown-Forman

This table presents Brown-Forman's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023
Period end date 1/31/2025 10/31/2024 7/31/2024 4/30/2024 1/31/2024 10/31/2023 7/31/2023 4/30/2023 1/31/2023 10/31/2022 7/31/2022
Total Assets
8,071 8,332 8,205 8,166 8,237 8,115 8,086 7,777 7,754 6,852 6,521
Total Current Assets
4,279 4,196 4,081 4,036 4,415 4,273 4,190 3,801 3,843 4,258 3,923
Cash & Equivalents
599 416 416 446 589 373 426 374 428 1,087 899
Accounts Receivable
855 954 806 769 878 948 872 855 944 894 841
Inventories, net
2,451 2,565 2,596 2,556 2,529 2,585 2,502 2,283 2,160 1,995 1,912
Other Current Assets
254 261 263 265 258 250 255 - 311 282 271
Other Current Nonoperating Assets
120 - - 0.00 161 117 135 - - - -
Plant, Property, & Equipment, net
1,041 1,060 1,052 1,074 1,014 1,060 1,050 1,031 955 890 880
Total Noncurrent Assets
2,751 3,076 3,072 3,056 2,808 2,782 2,846 2,945 2,956 1,704 1,718
Long-Term Investments
3.00 272 270 270 - - - 3.00 - - -
Goodwill
1,435 1,468 1,464 1,455 1,464 1,461 1,494 1,457 1,455 748 756
Intangible Assets
973 1,000 997 990 1,004 989 1,014 1,164 1,145 571 578
Noncurrent Deferred & Refundable Income Taxes
63 60 63 69 66 63 67 66 87 82 81
Other Noncurrent Operating Assets
277 276 278 272 274 269 271 255 269 303 303
Total Liabilities & Shareholders' Equity
8,071 8,332 8,205 8,166 8,237 8,115 8,086 7,777 7,754 6,852 6,521
Total Liabilities
4,248 4,627 4,740 4,649 4,992 4,661 4,748 4,509 4,716 3,812 3,714
Total Current Liabilities
1,227 1,553 1,649 1,559 1,612 1,297 1,308 1,084 1,933 1,243 1,110
Short-Term Debt
502 812 784 728 728 456 389 235 1,004 436 250
Accounts Payable
695 695 669 793 747 794 761 827 787 750 644
Current Deferred & Payable Income Tax Liabilities
30 46 93 38 19 36 47 22 44 57 126
Total Noncurrent Liabilities
3,021 3,074 3,091 3,090 3,380 3,364 3,440 3,425 2,783 2,569 2,604
Long-Term Debt
2,361 2,391 2,384 2,372 2,678 2,654 2,687 2,678 2,024 1,974 1,998
Noncurrent Deferred & Payable Income Tax Liabilities
266 290 302 315 289 299 324 323 341 234 236
Noncurrent Employee Benefit Liabilities
161 159 159 160 171 171 171 171 171 183 183
Other Noncurrent Operating Liabilities
233 234 246 243 242 240 258 253 247 178 187
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
3,823 3,705 3,465 3,517 3,245 3,454 3,338 3,268 3,038 3,040 2,807
Total Preferred & Common Equity
3,823 3,705 3,465 3,517 3,245 3,454 3,338 3,268 3,038 3,040 2,807
Total Common Equity
3,823 3,705 3,465 3,517 3,245 3,454 3,338 3,268 3,038 3,040 2,807
Common Stock
100 93 84 85 87 80 73 73 78 75 72
Retained Earnings
4,671 4,508 4,250 4,261 3,995 3,916 3,674 3,643 3,437 3,534 3,307
Treasury Stock
-605 -605 -605 -608 -613 -252 -210 -213 -219 -220 -221
Accumulated Other Comprehensive Income / (Loss)
-343 -291 -264 -221 -224 -290 -199 -235 -258 -349 -351

Annual Metrics And Ratios for Brown-Forman

This table displays calculated financial ratios and metrics derived from Brown-Forman's official financial filings.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 4/30/2024 4/30/2023 4/30/2022 4/30/2021 4/30/2020 4/30/2019 4/30/2018 4/30/2017 4/30/2016 4/30/2015
Growth Metrics
- - - - - - - - - -
Revenue Growth
-0.82% 5.73% 12.26% 5.11% 0.70% 1.79% 8.92% -3.84% -2.08% 3.80%
EBITDA Growth
27.16% -7.24% 2.67% 6.64% -2.85% 8.25% 5.35% -34.11% 47.40% 5.58%
EBIT Growth
28.51% -7.81% 2.67% 6.81% -3.21% 7.99% 5.06% -35.49% 49.27% 5.77%
NOPAT Growth
28.56% -4.20% -7.01% 8.92% -2.46% 19.20% 6.20% -34.07% 56.69% 3.75%
Net Income Growth
30.78% -6.56% -7.20% 9.19% -0.96% 16.46% 7.17% -37.30% 55.99% 3.79%
EPS Growth
31.29% -6.32% -7.45% 9.30% -0.58% 16.89% 8.03% -37.30% 55.99% 3.79%
Operating Cash Flow Growth
1.09% -31.62% 14.57% 12.85% -9.50% 22.51% -0.46% 25.19% -13.82% -6.32%
Free Cash Flow Firm Growth
227.58% -195.87% 2.68% 5.02% 0.32% 62.70% 152.71% -81.46% 71.09% 23.01%
Invested Capital Growth
1.67% 40.26% 1.80% 4.18% 3.23% 4.05% 8.87% 19.18% 3.28% 4.27%
Revenue Q/Q Growth
-1.90% 0.83% 4.20% 3.26% -1.03% -0.07% 1.52% -1.15% -0.37% 1.34%
EBITDA Q/Q Growth
5.49% 5.65% 5.75% -1.51% -3.41% 7.57% -7.93% -32.93% 45.65% 4.05%
EBIT Q/Q Growth
5.85% 5.88% 6.15% -1.61% -3.55% 7.68% -8.38% -34.20% 47.69% 4.37%
NOPAT Q/Q Growth
5.48% 7.03% 4.16% -0.75% -3.42% 5.77% -5.70% -33.08% 54.27% 0.82%
Net Income Q/Q Growth
6.11% 7.70% 3.84% -0.88% -3.61% 6.23% -4.78% -35.92% 55.54% 1.03%
EPS Q/Q Growth
6.47% 7.95% 2.96% -1.05% -3.91% 4.85% -5.73% -35.92% 55.54% 1.03%
Operating Cash Flow Q/Q Growth
9.29% -3.47% 0.86% 3.81% -1.09% 23.46% -17.65% 25.91% -23.05% -4.10%
Free Cash Flow Firm Q/Q Growth
31.50% 0.37% -2.33% -17.53% 21.25% 25.22% -10.83% -71.51% 40.79% 17.46%
Invested Capital Q/Q Growth
-1.96% 1.19% 0.34% -1.02% -5.04% -1.05% 1.82% 1.64% -2.03% -5.31%
Profitability Metrics
- - - - - - - - - -
Gross Margin
47.41% 46.43% 47.06% 46.27% 49.40% 50.65% 52.42% 52.40% 53.45% 53.30%
EBITDA Margin
28.12% 21.93% 25.00% 27.33% 26.94% 27.92% 26.26% 27.15% 39.62% 26.32%
Operating Margin
26.54% 20.98% 23.70% 25.76% 25.34% 26.75% 24.95% 26.19% 38.22% 25.07%
EBIT Margin
26.48% 20.44% 23.44% 25.63% 25.22% 26.24% 24.73% 25.64% 38.22% 25.07%
Profit (Net Income) Margin
19.22% 14.58% 16.49% 19.95% 19.21% 19.53% 17.07% 17.35% 26.60% 16.70%
Tax Burden Percent
78.89% 76.99% 75.22% 83.53% 81.96% 80.13% 73.39% 71.70% 71.66% 68.26%
Interest Burden Percent
91.99% 92.62% 93.53% 93.19% 92.91% 92.87% 94.03% 94.34% 97.13% 97.57%
Effective Tax Rate
21.11% 23.01% 24.78% 16.47% 18.04% 19.87% 26.61% 28.30% 28.34% 31.74%
Return on Invested Capital (ROIC)
19.06% 17.46% 22.08% 24.45% 23.28% 24.73% 22.07% 23.60% 39.87% 26.40%
ROIC Less NNEP Spread (ROIC-NNEP)
15.34% 13.15% 17.26% 20.19% 19.97% 21.06% 19.64% 20.16% 36.78% 23.92%
Return on Net Nonoperating Assets (RNNOA)
11.12% 8.62% 9.00% 14.55% 22.38% 31.63% 31.32% 22.03% 21.69% 8.35%
Return on Equity (ROE)
30.18% 26.08% 31.08% 39.00% 45.67% 56.36% 53.39% 45.63% 61.55% 34.75%
Cash Return on Invested Capital (CROIC)
17.40% -16.06% 20.30% 20.36% 20.10% 20.77% 13.58% 6.10% 36.64% 22.22%
Operating Return on Assets (OROA)
17.70% 15.52% 18.47% 18.88% 19.92% 22.18% 21.64% 22.46% 36.63% 24.77%
Return on Assets (ROA)
12.85% 11.07% 13.00% 14.70% 15.17% 16.51% 14.94% 15.19% 25.49% 16.50%
Return on Common Equity (ROCE)
30.18% 26.08% 31.08% 39.00% 45.67% 56.36% 53.39% 45.63% 61.55% 34.75%
Return on Equity Simple (ROE_SIMPLE)
29.12% 23.96% 30.62% 34.00% 41.87% 50.70% 54.48% 48.83% 68.31% 35.91%
Net Operating Profit after Tax (NOPAT)
1,116 868 906 974 894 917 769 724 1,099 701
NOPAT Margin
20.94% 16.15% 17.83% 21.52% 20.77% 21.44% 18.31% 18.78% 27.39% 17.12%
Net Nonoperating Expense Percent (NNEP)
3.72% 4.30% 4.82% 4.26% 3.31% 3.67% 2.43% 3.45% 3.09% 2.48%
Cost of Revenue to Revenue
52.59% 53.57% 52.94% 53.73% 50.60% 49.35% 47.58% 47.60% 46.55% 46.70%
SG&A Expenses to Revenue
15.50% 13.81% 13.58% 14.83% 14.91% 14.99% 18.21% 17.03% 17.15% 17.02%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
20.87% 25.45% 23.36% 20.50% 24.06% 23.90% 27.47% 26.21% 15.23% 28.22%
Earnings before Interest and Taxes (EBIT)
1,411 1,098 1,191 1,160 1,086 1,122 1,039 989 1,533 1,027
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
1,498 1,178 1,270 1,237 1,160 1,194 1,103 1,047 1,589 1,078
Valuation Ratios
- - - - - - - - - -
Price to Book Value (P/BV)
6.46 9.41 11.15 12.78 13.74 14.28 18.51 8.43 3.97 5.26
Price to Tangible Book Value (P/TBV)
21.18 47.51 21.95 28.27 46.48 94.44 0.00 0.00 16.43 14.58
Price to Revenue (P/Rev)
4.26 5.72 6.01 7.50 6.30 5.50 5.80 2.99 1.54 2.44
Price to Earnings (P/E)
22.17 39.26 36.41 37.60 32.82 28.16 33.98 17.26 5.81 14.64
Dividend Yield
1.73% 1.22% 2.87% 1.04% 1.28% 3.39% 3.05% 1.65% 1.44% 1.51%
Earnings Yield
4.51% 2.55% 2.75% 2.66% 3.05% 3.55% 2.94% 5.80% 17.22% 6.83%
Enterprise Value to Invested Capital (EV/IC)
4.25 5.73 7.71 8.70 7.45 6.79 7.34 4.05 2.65 3.99
Enterprise Value to Revenue (EV/Rev)
4.71 6.19 6.28 7.81 6.75 6.00 6.35 3.50 1.85 2.64
Enterprise Value to EBITDA (EV/EBITDA)
16.75 28.25 25.13 28.59 25.06 21.48 24.19 12.90 4.68 10.04
Enterprise Value to EBIT (EV/EBIT)
17.78 30.31 26.80 30.48 26.77 22.86 25.68 13.66 4.85 10.54
Enterprise Value to NOPAT (EV/NOPAT)
22.49 38.35 35.24 36.30 32.51 27.98 34.69 18.66 6.77 15.44
Enterprise Value to Operating Cash Flow (EV/OCF)
38.78 51.99 34.10 43.28 40.15 32.06 40.86 20.60 14.19 17.81
Enterprise Value to Free Cash Flow (EV/FCFF)
24.63 0.00 38.33 43.60 37.65 33.32 56.39 72.17 7.36 18.35
Leverage & Solvency
- - - - - - - - - -
Debt to Equity
0.88 0.89 0.83 0.96 1.32 1.48 1.94 1.57 0.96 0.62
Long-Term Debt to Equity
0.67 0.82 0.74 0.89 1.15 1.39 1.78 1.23 0.79 0.39
Financial Leverage
0.73 0.66 0.52 0.72 1.12 1.50 1.59 1.09 0.59 0.35
Leverage Ratio
2.35 2.36 2.39 2.65 3.01 3.41 3.57 3.00 2.41 2.11
Compound Leverage Factor
2.16 2.18 2.24 2.47 2.80 3.17 3.36 2.83 2.35 2.05
Debt to Total Capital
46.85% 47.13% 45.33% 49.07% 56.85% 59.70% 66.01% 61.07% 49.00% 38.31%
Short-Term Debt to Total Capital
11.00% 3.80% 4.99% 3.93% 7.28% 3.67% 5.55% 13.07% 8.85% 14.25%
Long-Term Debt to Total Capital
35.85% 43.33% 40.33% 45.14% 49.57% 56.03% 60.46% 48.00% 40.16% 24.06%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
53.15% 52.87% 54.67% 50.93% 43.15% 40.30% 33.99% 38.93% 51.00% 61.69%
Debt to EBITDA
2.07 2.47 1.79 2.07 2.24 2.04 2.32 2.05 0.94 1.10
Net Debt to EBITDA
1.59 2.15 1.10 1.14 1.66 1.79 2.10 1.88 0.78 0.75
Long-Term Debt to EBITDA
1.58 2.27 1.59 1.90 1.96 1.92 2.12 1.61 0.77 0.69
Debt to NOPAT
2.78 3.36 2.51 2.63 2.91 2.66 3.32 2.97 1.37 1.69
Net Debt to NOPAT
2.14 2.92 1.55 1.45 2.16 2.33 3.01 2.72 1.13 1.16
Long-Term Debt to NOPAT
2.13 3.09 2.23 2.42 2.54 2.50 3.04 2.33 1.12 1.06
Altman Z-Score
5.25 6.32 7.68 7.80 6.82 6.67 6.43 5.38 5.36 5.89
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios
- - - - - - - - - -
Current Ratio
2.59 3.51 3.65 4.27 3.71 3.87 3.11 2.42 2.82 2.35
Quick Ratio
0.78 1.13 1.63 2.07 1.41 1.30 1.07 0.76 1.04 0.99
Cash Flow Metrics
- - - - - - - - - -
Free Cash Flow to Firm (FCFF)
1,019 -798 833 811 772 770 473 187 1,010 590
Operating Cash Flow to CapEx
283.77% 349.73% 678.26% 1,317.74% 640.71% 661.16% 510.16% 570.43% 476.36% 502.48%
Free Cash Flow to Firm to Interest Expense
8.02 -8.87 10.15 10.01 9.42 8.75 6.96 3.17 21.95 21.85
Operating Cash Flow to Interest Expense
5.09 7.11 11.41 10.09 8.83 9.09 9.60 11.12 11.39 22.52
Operating Cash Flow Less CapEx to Interest Expense
3.30 5.08 9.73 9.32 7.45 7.72 7.72 9.17 9.00 18.04
Efficiency Ratios
- - - - - - - - - -
Asset Turnover
0.67 0.76 0.79 0.74 0.79 0.85 0.88 0.88 0.96 0.99
Accounts Receivable Turnover
6.56 6.44 6.49 6.84 7.30 6.85 7.03 6.91 7.02 7.11
Inventory Turnover
1.16 1.40 1.51 1.42 1.36 1.46 1.51 1.58 1.86 2.09
Fixed Asset Turnover
5.06 5.64 5.95 5.39 5.18 5.36 5.63 5.75 6.60 7.37
Accounts Payable Turnover
3.46 3.76 3.89 4.07 4.11 3.75 3.70 3.66 3.74 3.94
Days Sales Outstanding (DSO)
55.63 56.67 56.25 53.35 49.97 53.26 51.96 52.81 51.96 51.33
Days Inventory Outstanding (DIO)
315.17 260.05 242.13 257.84 268.43 250.74 241.84 231.01 196.19 175.06
Days Payable Outstanding (DPO)
105.51 97.02 93.76 89.75 88.86 97.30 98.78 99.60 97.55 92.63
Cash Conversion Cycle (CCC)
265.29 219.70 204.62 221.44 229.54 206.70 195.02 184.21 150.59 133.75
Capital & Investment Metrics
- - - - - - - - - -
Invested Capital
5,901 5,804 4,138 4,065 3,902 3,780 3,633 3,337 2,800 2,711
Invested Capital Turnover
0.91 1.08 1.24 1.14 1.12 1.15 1.21 1.26 1.46 1.54
Increase / (Decrease) in Invested Capital
97 1,666 73 163 122 147 296 537 89 111
Enterprise Value (EV)
25,087 33,276 31,914 35,360 29,071 25,650 26,679 13,511 7,434 10,827
Market Capitalization
22,703 30,740 30,513 33,951 27,144 23,517 24,362 11,544 6,196 10,014
Book Value per Share
$7.44 $6.82 $5.71 $5.55 $4.13 $3.45 $2.74 $3.57 $7.81 $9.05
Tangible Book Value per Share
$2.27 $1.35 $2.90 $2.51 $1.22 $0.52 ($0.24) ($0.06) $1.88 $3.26
Total Capital
6,617 6,181 5,006 5,215 4,577 4,087 3,872 3,519 3,063 3,088
Total Debt
3,100 2,913 2,269 2,559 2,602 2,440 2,556 2,149 1,501 1,183
Total Long-Term Debt
2,372 2,678 2,019 2,354 2,269 2,290 2,341 1,689 1,230 743
Net Debt
2,384 2,536 1,401 1,409 1,927 2,133 2,317 1,967 1,238 813
Capital Expenditures (CapEx)
228 183 138 62 113 121 128 115 110 121
Debt-free, Cash-free Net Working Capital (DFCFNWC)
2,759 2,578 2,124 2,054 2,043 1,859 1,710 1,659 1,450 1,366
Debt-free Net Working Capital (DFNWC)
3,205 2,952 2,992 3,204 2,718 2,166 1,949 1,841 1,713 1,736
Net Working Capital (NWC)
2,477 2,717 2,742 2,999 2,385 2,016 1,734 1,381 1,442 1,296
Net Nonoperating Expense (NNE)
92 85 68 71 67 82 52 55 32 17
Net Nonoperating Obligations (NNO)
2,384 2,536 1,401 1,409 1,927 2,133 2,317 1,967 1,238 806
Total Depreciation and Amortization (D&A)
87 80 79 77 74 72 64 58 56 51
Debt-free, Cash-free Net Working Capital to Revenue
51.78% 47.99% 41.80% 45.38% 47.45% 43.48% 40.70% 43.01% 36.15% 33.35%
Debt-free Net Working Capital to Revenue
60.15% 54.95% 58.89% 70.79% 63.12% 50.65% 46.39% 47.73% 42.71% 42.38%
Net Working Capital to Revenue
46.49% 50.58% 53.97% 66.26% 55.39% 47.15% 41.28% 35.81% 35.95% 31.64%
Earnings Adjustments
- - - - - - - - - -
Adjusted Basic Earnings per Share
$2.15 $1.63 $1.75 $1.89 $1.73 $1.74 $1.49 $1.02 $1.56 $0.96
Adjusted Weighted Average Basic Shares Outstanding
472.66M 479.36M 479.05M 478.76M 478.24M 477.27M 481.11M 646.18M 662.41M 696.33M
Adjusted Diluted Earnings per Share
$2.14 $1.63 $1.74 $1.88 $1.72 $1.73 $1.48 $1.02 $1.55 $0.95
Adjusted Weighted Average Diluted Shares Outstanding
472.66M 479.36M 479.05M 478.76M 478.24M 477.27M 481.11M 646.18M 662.41M 696.33M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $1.73 $1.74 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
472.66M 479.36M 479.05M 478.76M 478.24M 477.27M 481.11M 646.18M 662.41M 696.33M
Normalized Net Operating Profit after Tax (NOPAT)
905 868 906 868 894 917 769 724 751 701
Normalized NOPAT Margin
16.98% 16.15% 17.83% 19.18% 20.77% 21.44% 18.31% 18.78% 18.72% 17.12%
Pre Tax Income Margin
24.36% 18.93% 21.92% 23.88% 23.43% 24.37% 23.26% 24.19% 37.12% 24.46%
Debt Service Ratios
- - - - - - - - - -
EBIT to Interest Expense
11.11 12.20 14.52 14.32 13.24 12.75 15.28 16.76 33.33 38.04
NOPAT to Interest Expense
8.78 9.64 11.05 12.02 10.91 10.42 11.31 12.27 23.88 25.97
EBIT Less CapEx to Interest Expense
9.32 10.17 12.84 13.56 11.87 11.38 13.40 14.81 30.93 33.56
NOPAT Less CapEx to Interest Expense
6.99 7.61 9.36 11.26 9.53 9.04 9.43 10.33 21.49 21.48
Payout Ratios
- - - - - - - - - -
Dividend Payout Ratio
39.45% 48.28% 99.16% 37.43% 39.30% 37.13% 107.81% 40.96% 24.93% 37.43%
Augmented Payout Ratio
78.52% 48.28% 99.16% 37.43% 39.42% 61.92% 107.95% 124.81% 128.68% 104.97%

Quarterly Metrics And Ratios for Brown-Forman

This table displays calculated financial ratios and metrics derived from Brown-Forman's official financial filings.

Metric Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023
Period end date 1/31/2025 10/31/2024 7/31/2024 4/30/2024 1/31/2024 10/31/2023 7/31/2023 4/30/2023 1/31/2023 10/31/2022 7/31/2022
Growth Metrics
- - - - - - - - - - -
Revenue Growth
-4.13% -2.06% -8.67% -7.96% 0.00% 1.52% 2.95% 3.52% 3.00% 7.87% 8.88%
EBITDA Growth
-24.69% 0.84% -12.68% 24.61% 139.16% 8.13% -4.41% 24.80% -54.77% -2.64% 17.86%
EBIT Growth
-25.54% 0.30% -13.80% 26.35% 154.79% 8.31% -4.96% 25.96% -57.93% -2.19% 18.69%
NOPAT Growth
-26.74% 6.21% -14.27% 25.36% 122.79% 10.99% -3.57% 33.34% -49.08% -5.56% 27.01%
Net Income Growth
-5.26% 6.61% -15.58% 28.50% 185.00% 6.61% -7.23% 37.09% -61.39% -3.81% 29.69%
EPS Growth
-5.00% 10.00% -14.58% 30.23% 185.71% 6.38% -7.69% 38.71% -61.11% -4.08% 30.00%
Operating Cash Flow Growth
19.62% 89.83% -55.26% 23.91% 181.91% -58.74% -78.03% -9.09% -72.99% -4.67% -6.49%
Free Cash Flow Firm Growth
915.73% 110.02% 108.91% 113.26% 101.89% -2,032.17% -1,385.58% -1,551.60% -672.94% -52.40% -18.16%
Invested Capital Growth
-0.91% 2.22% 1.44% 1.67% 4.93% 39.47% 40.46% 40.26% 39.09% 3.88% 3.61%
Revenue Q/Q Growth
-2.03% 13.63% 1.68% -15.29% 0.07% 5.96% 2.47% -7.97% 1.59% 7.45% 3.04%
EBITDA Q/Q Growth
-17.40% 19.47% -23.29% -0.50% 10.59% 3.46% 9.46% 90.96% -50.00% -8.54% 42.91%
EBIT Q/Q Growth
-18.53% 21.00% -24.87% 0.54% 9.73% 3.99% 10.14% 102.74% -53.35% -8.75% 45.96%
NOPAT Q/Q Growth
-18.99% 29.78% -24.66% -7.52% 17.46% 4.75% 10.17% 64.37% -41.48% -8.99% 52.34%
Net Income Q/Q Growth
4.65% 32.31% -26.69% -6.67% 17.77% 4.76% 11.59% 107.00% -55.95% -8.84% 64.90%
EPS Q/Q Growth
3.64% 34.15% -26.79% -6.67% 20.00% 4.17% 11.63% 104.76% -55.32% -9.62% 67.74%
Operating Cash Flow Q/Q Growth
183.04% 558.82% -94.04% 7.55% 349.15% 55.26% -83.48% 144.68% -34.27% -17.34% -31.62%
Free Cash Flow Firm Q/Q Growth
93.53% 11.87% -31.44% 584.30% 101.91% 0.55% -2.00% 2.43% -2,052.22% -33.83% 15.17%
Invested Capital Q/Q Growth
-4.12% 2.81% 2.53% -1.96% -1.08% 2.03% 2.76% 1.19% 31.47% 2.76% 2.61%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
45.92% 46.95% 46.66% 47.78% 45.16% 47.76% 49.10% 49.07% 44.38% 44.29% 48.29%
EBITDA Margin
22.18% 26.31% 25.02% 33.17% 28.24% 25.55% 26.17% 24.50% 11.81% 23.99% 28.18%
Operating Margin
20.77% 24.78% 23.20% 31.49% 26.53% 24.13% 24.66% 23.03% 12.30% 22.62% 26.63%
EBIT Margin
20.55% 24.71% 23.20% 31.40% 26.46% 24.13% 24.59% 22.87% 10.38% 22.62% 26.63%
Profit (Net Income) Margin
20.03% 18.75% 16.10% 22.33% 20.27% 17.22% 17.42% 16.00% 7.11% 16.40% 19.33%
Tax Burden Percent
81.33% 82.43% 77.08% 76.66% 83.33% 78.06% 77.26% 76.95% 80.65% 76.17% 76.38%
Interest Burden Percent
119.86% 92.06% 90.04% 92.78% 91.94% 91.45% 91.72% 90.88% 84.93% 95.21% 95.04%
Effective Tax Rate
18.67% 17.57% 22.92% 23.34% 16.67% 21.94% 22.74% 23.05% 19.35% 23.83% 23.62%
Return on Invested Capital (ROIC)
14.45% 17.21% 15.52% 21.97% 20.43% 19.58% 20.19% 19.15% 10.72% 21.27% 25.28%
ROIC Less NNEP Spread (ROIC-NNEP)
16.17% 16.31% 14.69% 21.10% 19.48% 18.44% 19.13% 18.02% 8.89% 20.39% 24.37%
Return on Net Nonoperating Assets (RNNOA)
11.25% 11.73% 11.25% 15.30% 16.97% 11.23% 12.65% 11.81% 6.88% 8.89% 12.67%
Return on Equity (ROE)
25.70% 28.94% 26.77% 37.27% 37.40% 30.81% 32.84% 30.96% 17.61% 30.17% 37.96%
Cash Return on Invested Capital (CROIC)
17.85% 15.62% 16.54% 17.40% 13.18% -16.02% -16.84% -16.06% -16.25% 18.32% 19.50%
Operating Return on Assets (OROA)
12.92% 15.58% 14.85% 20.99% 17.97% 17.51% 18.21% 17.37% 7.92% 17.76% 21.08%
Return on Assets (ROA)
12.59% 11.82% 10.31% 14.93% 13.77% 12.50% 12.90% 12.15% 5.42% 12.88% 15.31%
Return on Common Equity (ROCE)
25.70% 28.94% 26.77% 37.27% 37.40% 30.81% 32.84% 30.96% 17.61% 30.17% 37.96%
Return on Equity Simple (ROE_SIMPLE)
25.87% 27.10% 28.51% 0.00% 29.74% 22.58% 22.92% 0.00% 23.93% 29.14% 31.88%
Net Operating Profit after Tax (NOPAT)
228 281 217 287 311 265 253 229 140 238 262
NOPAT Margin
16.89% 20.43% 17.88% 24.14% 22.11% 18.84% 19.05% 17.72% 9.92% 17.23% 20.34%
Net Nonoperating Expense Percent (NNEP)
-1.72% 0.90% 0.83% 0.87% 0.94% 1.15% 1.06% 1.13% 1.84% 0.88% 0.91%
Return On Investment Capital (ROIC_SIMPLE)
3.41% - - - 4.67% - - - - - -
Cost of Revenue to Revenue
54.08% 53.05% 53.34% 52.23% 54.84% 52.24% 50.91% 50.93% 55.62% 55.71% 51.71%
SG&A Expenses to Revenue
13.20% 13.59% 15.52% 19.40% 14.44% 13.67% 15.08% 15.53% 13.23% 13.01% 13.59%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
25.15% 22.17% 23.45% 16.29% 18.63% 23.63% 24.43% 26.04% 32.08% 21.68% 21.66%
Earnings before Interest and Taxes (EBIT)
277 340 281 374 372 339 326 296 146 313 343
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
299 362 303 395 397 359 347 317 166 332 363
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
4.09 5.60 6.18 6.46 7.97 7.72 10.05 9.41 10.32 10.55 12.28
Price to Tangible Book Value (P/TBV)
11.06 16.76 21.33 21.18 33.30 26.56 40.40 47.51 71.58 18.63 23.40
Price to Revenue (P/Rev)
3.05 4.00 4.11 4.26 4.76 4.91 6.20 5.72 5.88 6.07 6.65
Price to Earnings (P/E)
15.83 20.65 21.68 22.17 26.81 34.19 43.84 39.26 43.12 36.19 38.51
Dividend Yield
2.64% 2.00% 1.88% 1.73% 1.51% 1.46% 1.14% 1.22% 1.18% 2.60% 2.46%
Earnings Yield
6.32% 4.84% 4.61% 4.51% 3.73% 2.92% 2.28% 2.55% 2.32% 2.76% 2.60%
Enterprise Value to Invested Capital (EV/IC)
3.00 3.74 3.95 4.25 4.77 4.83 6.07 5.73 5.92 7.65 8.43
Enterprise Value to Revenue (EV/Rev)
3.50 4.49 4.58 4.71 5.28 5.41 6.69 6.19 6.37 6.32 6.91
Enterprise Value to EBITDA (EV/EBITDA)
13.18 15.96 16.44 16.75 20.20 24.73 31.14 28.25 30.45 25.37 27.03
Enterprise Value to EBIT (EV/EBIT)
14.08 17.01 17.50 17.78 21.52 26.56 33.47 30.31 32.74 26.97 28.77
Enterprise Value to NOPAT (EV/NOPAT)
17.66 21.21 22.14 22.49 27.13 33.22 42.15 38.35 41.88 35.24 37.25
Enterprise Value to Operating Cash Flow (EV/OCF)
24.51 34.24 38.18 38.78 48.46 69.85 71.66 51.99 51.21 36.41 38.76
Enterprise Value to Free Cash Flow (EV/FCFF)
16.75 24.19 24.06 24.63 37.04 0.00 0.00 0.00 0.00 42.57 44.02
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
0.75 0.86 0.91 0.88 1.05 0.90 0.92 0.89 1.00 0.79 0.80
Long-Term Debt to Equity
0.62 0.65 0.69 0.67 0.83 0.77 0.81 0.82 0.67 0.65 0.71
Financial Leverage
0.70 0.72 0.77 0.73 0.87 0.61 0.66 0.66 0.77 0.44 0.52
Leverage Ratio
2.31 2.30 2.39 2.35 2.55 2.30 2.38 2.36 2.52 2.26 2.39
Compound Leverage Factor
2.77 2.11 2.16 2.18 2.34 2.11 2.18 2.14 2.14 2.15 2.27
Debt to Total Capital
42.82% 46.37% 47.76% 46.85% 51.21% 47.38% 47.96% 47.13% 49.92% 44.22% 44.47%
Short-Term Debt to Total Capital
7.51% 11.75% 11.82% 11.00% 10.95% 6.95% 6.06% 3.80% 16.55% 8.00% 4.95%
Long-Term Debt to Total Capital
35.31% 34.61% 35.94% 35.85% 40.26% 40.43% 41.89% 43.33% 33.37% 36.22% 39.53%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
57.18% 53.63% 52.24% 53.15% 48.79% 52.62% 52.04% 52.87% 50.08% 55.78% 55.53%
Debt to EBITDA
2.11 2.20 2.18 2.07 2.40 2.62 2.65 2.47 2.72 1.83 1.70
Net Debt to EBITDA
1.66 1.73 1.71 1.59 1.98 2.30 2.28 2.15 2.33 1.01 1.02
Long-Term Debt to EBITDA
1.74 1.64 1.64 1.58 1.89 2.23 2.31 2.27 1.82 1.50 1.51
Debt to NOPAT
2.82 2.92 2.93 2.78 3.22 3.51 3.58 3.36 3.74 2.54 2.34
Net Debt to NOPAT
2.23 2.29 2.30 2.14 2.66 3.09 3.09 2.92 3.21 1.40 1.40
Long-Term Debt to NOPAT
2.33 2.18 2.21 2.13 2.53 3.00 3.13 3.09 2.50 2.08 2.08
Altman Z-Score
4.22 4.58 4.54 4.83 5.01 5.36 6.10 5.98 5.65 7.22 7.76
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
3.49 2.70 2.47 2.59 2.74 3.29 3.20 3.51 1.99 3.43 3.53
Quick Ratio
1.19 0.88 0.74 0.78 0.91 1.02 0.99 1.13 0.71 1.59 1.57
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
283 146 131 190 28 -1,457 -1,465 -1,437 -1,472 75 114
Operating Cash Flow to CapEx
704.44% 361.29% 0.00% 356.25% 384.06% 347.06% 77.55% 343.28% 200.00% 595.83% 524.24%
Free Cash Flow to Firm to Interest Expense
9.12 4.57 4.08 5.60 0.84 -47.01 -50.53 -49.54 -61.35 4.19 6.00
Operating Cash Flow to Interest Expense
10.23 3.50 0.53 8.38 8.03 1.90 1.31 7.93 3.92 7.94 9.11
Operating Cash Flow Less CapEx to Interest Expense
8.77 2.53 0.84 6.03 5.94 1.35 -0.38 5.62 1.96 6.61 7.37
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.63 0.63 0.64 0.67 0.68 0.73 0.74 0.76 0.76 0.79 0.79
Accounts Receivable Turnover
5.92 5.45 6.21 6.56 5.96 5.90 6.32 6.44 6.12 5.79 6.31
Inventory Turnover
1.10 1.08 1.09 1.16 1.21 1.24 1.31 1.40 1.45 1.48 1.48
Fixed Asset Turnover
4.99 4.89 4.96 5.06 5.52 5.57 5.61 5.64 6.01 6.21 6.12
Accounts Payable Turnover
3.78 3.72 3.88 3.46 3.70 3.69 4.11 3.76 4.02 3.85 4.28
Days Sales Outstanding (DSO)
61.70 66.96 58.74 55.63 61.23 61.90 57.79 56.67 59.60 63.07 57.85
Days Inventory Outstanding (DIO)
333.28 339.43 335.52 315.17 301.42 293.28 279.03 260.05 252.21 246.54 246.57
Days Payable Outstanding (DPO)
96.50 98.14 94.11 105.51 98.61 98.87 88.82 97.02 90.90 94.89 85.36
Cash Conversion Cycle (CCC)
298.47 308.25 300.15 265.29 264.04 256.31 248.00 219.70 220.92 214.72 219.06
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
5,964 6,220 6,050 5,901 6,019 6,085 5,964 5,804 5,736 4,363 4,246
Invested Capital Turnover
0.86 0.84 0.87 0.91 0.92 1.04 1.06 1.08 1.08 1.23 1.24
Increase / (Decrease) in Invested Capital
-55 135 86 97 283 1,722 1,718 1,666 1,612 163 148
Enterprise Value (EV)
17,916 23,250 23,900 25,087 28,691 29,406 36,186 33,276 33,951 33,392 35,814
Market Capitalization
15,655 20,735 21,418 22,703 25,874 26,669 33,536 30,740 31,351 32,069 34,465
Book Value per Share
$8.09 $7.84 $7.33 $7.44 $6.82 $7.21 $6.96 $6.82 $6.34 $6.34 $5.86
Tangible Book Value per Share
$2.99 $2.62 $2.12 $2.27 $1.63 $2.09 $1.73 $1.35 $0.91 $3.59 $3.07
Total Capital
6,686 6,908 6,633 6,617 6,651 6,564 6,414 6,181 6,066 5,450 5,055
Total Debt
2,863 3,203 3,168 3,100 3,406 3,110 3,076 2,913 3,028 2,410 2,248
Total Long-Term Debt
2,361 2,391 2,384 2,372 2,678 2,654 2,687 2,678 2,024 1,974 1,998
Net Debt
2,261 2,515 2,482 2,384 2,817 2,737 2,650 2,536 2,600 1,323 1,349
Capital Expenditures (CapEx)
45 31 -10 80 69 17 49 67 47 24 33
Debt-free, Cash-free Net Working Capital (DFCFNWC)
2,955 3,039 2,800 2,759 2,942 3,059 2,845 2,578 2,486 2,364 2,164
Debt-free Net Working Capital (DFNWC)
3,554 3,455 3,216 3,205 3,531 3,432 3,271 2,952 2,914 3,451 3,063
Net Working Capital (NWC)
3,052 2,643 2,432 2,477 2,803 2,976 2,882 2,717 1,910 3,015 2,813
Net Nonoperating Expense (NNE)
-42 23 22 21 26 23 22 22 40 11 13
Net Nonoperating Obligations (NNO)
2,141 2,515 2,585 2,384 2,774 2,631 2,626 2,536 2,698 1,323 1,439
Total Depreciation and Amortization (D&A)
22 22 22 21 25 20 21 21 20 19 20
Debt-free, Cash-free Net Working Capital to Revenue
57.65% 58.62% 53.71% 51.78% 54.17% 56.32% 52.59% 47.99% 46.66% 44.71% 41.73%
Debt-free Net Working Capital to Revenue
69.33% 66.65% 61.69% 60.15% 65.02% 63.19% 60.46% 54.95% 54.69% 65.27% 59.06%
Net Working Capital to Revenue
59.54% 50.98% 46.65% 46.49% 51.61% 54.80% 53.27% 50.58% 35.85% 57.03% 54.24%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$0.57 $0.55 $0.41 $0.57 $0.60 $0.50 $0.48 $0.43 $0.21 $0.47 $0.52
Adjusted Weighted Average Basic Shares Outstanding
472.67M 472.66M 472.66M 472.66M 472.52M 475.62M 479.39M 479.36M 479.24M 479.15M 479.12M
Adjusted Diluted Earnings per Share
$0.57 $0.55 $0.41 $0.56 $0.60 $0.50 $0.48 $0.43 $0.21 $0.47 $0.52
Adjusted Weighted Average Diluted Shares Outstanding
472.67M 472.66M 472.66M 472.66M 472.52M 475.62M 479.39M 479.36M 479.24M 479.15M 479.12M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
472.67M 472.66M 472.66M 472.66M 472.52M 475.62M 479.39M 479.36M 479.24M 479.15M 479.12M
Normalized Net Operating Profit after Tax (NOPAT)
253 281 217 287 236 265 253 229 140 238 262
Normalized NOPAT Margin
18.76% 20.43% 17.88% 24.14% 16.77% 18.84% 19.05% 17.72% 9.92% 17.23% 20.34%
Pre Tax Income Margin
24.63% 22.75% 20.89% 29.14% 24.32% 22.06% 22.55% 20.79% 8.82% 21.53% 25.31%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
8.94 10.63 8.78 11.00 11.27 10.94 11.24 10.21 6.08 17.39 18.05
NOPAT to Interest Expense
7.35 8.78 6.77 8.45 9.42 8.54 8.71 7.91 5.81 13.25 13.79
EBIT Less CapEx to Interest Expense
7.48 9.66 9.09 8.65 9.18 10.39 9.55 7.90 4.13 16.06 16.32
NOPAT Less CapEx to Interest Expense
5.89 7.82 7.08 6.10 7.33 7.99 7.02 5.60 3.85 11.91 12.05
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
42.16% 41.14% 41.30% 39.45% 41.35% 50.64% 50.59% 48.28% 50.76% 94.70% 93.30%
Augmented Payout Ratio
42.16% 76.79% 41.30% 78.52% 82.80% 56.03% 50.59% 48.28% 50.76% 94.70% 93.30%

Frequently Asked Questions About Brown-Forman's Financials

When does Brown-Forman's financial year end?

According to the most recent income statement we have on file, Brown-Forman's fiscal year ends in April. Their fiscal year 2024 ended on April 30, 2024.

How has Brown-Forman's net income changed over the last 9 years?

In the past 9 years, Brown-Forman's net income has ranged from $669 million in 2017 to $1.07 billion in 2016, and is currently $1.02 billion as of their latest financial filing in 2024. See where experts think Brown-Forman is headed by visiting Brown-Forman's forecast page.

What is Brown-Forman's operating income?
Brown-Forman's total operating income in 2024 was $1.41 billion, based on the following breakdown:
  • Total Gross Profit: $2.53 billion
  • Total Operating Expenses: $1.11 billion
How has Brown-Forman revenue changed over the last 9 years?

Over the last 9 years, Brown-Forman's total revenue changed from $4.10 billion in 2015 to $5.33 billion in 2024, a change of 30.1%.

How much debt does Brown-Forman have?

Brown-Forman's total liabilities were at $4.65 billion at the end of 2024, a 3.1% increase from 2023, and a 103.6% increase since 2015.

How much cash does Brown-Forman have?

In the past 9 years, Brown-Forman's cash and equivalents has ranged from $182 million in 2017 to $1.15 billion in 2021, and is currently $446 million as of their latest financial filing in 2024.

How has Brown-Forman's book value per share changed over the last 9 years?

Over the last 9 years, Brown-Forman's book value per share changed from 9.05 in 2015 to 7.44 in 2024, a change of -17.7%.



This page (NYSE:BF.B) was last updated on 5/29/2025 by MarketBeat.com Staff
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