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Stocks / United States / BF.B · Beverages · NYSE

Brown Forman Corp. (BF.B)

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Brown Forman Corp. (BF.B) reported revenue of $911 million for Q1 FY2027, the quarter ended 31 July 2026, down 1.4% on the same quarter a year earlier. Net income was $176 million, up 3.5% on the year, and diluted earnings per share $0.38. The figures are the company's own, from the 10-Q it filed with the SEC on 2 September 2026.

Revenue$911 milliondown 1.4%
Net income$176 millionup 3.5%
Diluted EPS$0.38
QuarterQ1 FY2027ended 31 July 2026

Ratios

From the filings

ROE18.2%
ROCE16.4%
Operating margin25.4%
Net margin18.4%
FCF margin23.6%
Interest cover9.64
Debt to equity0.52
Cash conversion1.41
Share count, 1 yearn/a
Sales CAGR, 3 years-2.4%
Profit CAGR, 3 years-3.0%
EPS, TTM$1.55

At the close of 21 September 2026

Price$26.15
Market cap$12.4 billion
Stock P/E16.87
Price to book3.11
EV / EBITDA13.02
Dividend yield3.5%
Market cap / sales3.16
52-week high$30.88
52-week low$22.80
Price, 1 year-4.8%
Price CAGR, 3 years-24.4%
Price CAGR, 5 years-17.5%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on long-term debt as Brown Forman Corp. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on BF.B

Filings22 in twelve months: 12 current reports (8-K), about 6 regulation fd disclosure; 4 results of operations; 3 officer or director change; 1 material agreement; 1 new financial obligation
Planned insider sales2 Form 144 notices in twelve months, $1.5 million; latest 4 December 2025
Options tapeput/call 0.31 by open interest on 23 September 2026; the straddle prices a 7.0% move to 16 October 2026
Holders8 of the followed funds hold it; largest FMR LLC; 5 Schedule 13D or 13G filings in twelve months
Insider trading0 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest27.7 million shares short, 13.88 days to cover at 31 August 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026Q4 FY2026 *Q1 FY2027
Revenue1,1071,0699649511,0951,0358949241,0361,056912911
Cost of revenue436434395386449416381372421416341362
Gross profit671635569565646619513552615640571549
Gross margin61%59%59%59%59%60%57%60%59%61%63%60%
SG&A192203231188187178191177187184259185
Operating income33937337528134128020526030534096.0252
Operating margin31%35%39%30%31%27%23%28%29%32%11%28%
Interest expense31.033.034.032.032.031.027.025.026.026.026.025.0
Pre-tax income31034234725331333218322027931571.0229
Tax rate22%17%23%23%18%19%20%23%20%15%24%23%
Net income24228526619525827014617022426754.0176
Net margin22%27%28%21%24%26%16%18%22%25%6%19%
Diluted EPS$0.50$0.60$0.56$0.41$0.55$0.57$0.31$0.36$0.47$0.58$0.12$0.38
Operating cash flow59.026528517.0112317152160132417291173
Capital expenditure30.069.080.041.031.045.050.031.025.025.026.012.0
Free cash flow29.0196205-24.081.0272102129107392265161
Buybacksn/a358n/an/an/a0.0n/an/an/a301n/an/a
Dividends paid98.0103104103103107107107107107106106
Shares outstandingn/an/a473mn/an/an/a473mn/an/an/an/an/a
Filing10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 10 fiscal years and the trailing twelve months

FY2017 FY2018 FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026TTM
Revenue2,9943,2483,3243,3633,4613,9334,2284,1783,9753,9283,915
Cost of revenue9731,0461,1581,2361,3671,5421,7341,6521,6321,5501,540
Gross profit2,0212,2022,1662,1272,0942,3912,4942,5262,3432,3782,375
Gross margin67.5%67.8%65.2%63.2%60.5%60.8%59.0%60.5%58.9%60.5%60.7%
Selling, general and administrative657765641642671690742826744807815
Operating income1,0101,0481,1441,0911,1661,2041,1271,4141,1071,001993
Operating margin33.7%32.3%34.4%32.4%33.7%30.6%26.7%33.8%27.8%25.5%25.4%
Interest expense59.068.088.082.081.082.090.0127122103103
Pre-tax income9339771,0421,0091,0811,1141,0171,2981,081885894
Income tax264260207182178276234274212170173
Effective tax rate28.3%26.6%19.9%18.0%16.5%24.8%23.0%21.1%19.6%19.2%19.4%
Net income6697178358279038387831,024869715721
Net margin22.3%22.1%25.1%24.6%26.1%21.3%18.5%24.5%21.9%18.2%18.4%
Diluted EPS$1.71$1.48$1.73$1.72$1.88$1.74$1.63$2.14$1.84$1.53$1.55
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

FY2017 FY2018 FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026TTM
Operating cash flow6566538007248179366406475981,0001,013
Capital expenditure11212711911362.013818322816710788.0
Free cash flow544526681611755798457419431893925
Free cash flow margin18.2%16.2%20.5%18.2%21.8%20.3%10.8%10.0%10.8%22.7%23.6%
Depreciation and amortisation58.064.072.074.077.079.080.087.087.092.093.0
Share-based compensation14.019.014.011.012.015.018.025.028.032.032.0
Buybacks5611.02071.00.00.00.04000.0400n/a
Dividends paid274773310325338831378404420427426
Dividend per share$0.70$1.61$0.65$0.68$0.71$1.74$0.79$0.85$0.89$0.92n/a
Diluted shares, weighted390m484m482m480m481m481m480m477m473m467m460m
Shares outstanding at period end384m481m477m478m479m479m479m473m473mn/an/a
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2017 FY2018 FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026TTM
Total assets4,6254,9765,1395,7666,5226,3737,7778,1668,0867,8947,825
Cash and equivalents1822393076751,150868374446444308301
Receivables557639609570753813855769830832822
Inventory1,2701,3791,5201,6851,7511,8182,2832,5562,5112,5432,574
Goodwill7537637537567797611,4571,4551,5051,5221,513
Long-term debt1,9382,3412,2902,2692,3542,2692,6782,6722,4212,4342,083
Operating lease liabilitiesn/an/an/a37.049.054.063.073.078.078.0n/a
Shareholders' equity1,3701,3161,6471,9752,6562,7373,2683,5173,9934,0203,969
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compoundedn/a2.6%-2.4%-0.8%
Profit growth, compoundedn/a-4.6%-3.0%-14.6%
Return on equity, average35.3%24.6%22.9%17.8%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Beverages

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Coca-Cola Co. KO$374.8 billion27.4040.7%29.3%5.1%1.162.3%
PepsiCo Inc. PEP$176.9 billion16.9847.3%14.8%5.6%1.934.3%
Keurig Dr Pepper Inc. KDP$41.7 billion30.935.7%16.2%27.5%0.863.0%
Brown Forman Corp. BF.B$12.4 billion16.8718.2%25.4%-0.8%0.523.5%
Constellation Brands, Inc. STZn/an/a22.1%31.5%-10.0%1.24n/a

The names on this site in the same industry (the SEC's SIC description), by market capitalisation. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close.

Filings

FilingPeriodFiledWhere
10-Q31 July 20262 September 2026EDGAR
10-K30 April 202612 June 2026EDGAR
10-Q31 January 20264 March 2026EDGAR
10-Q31 October 20254 December 2025EDGAR
10-Q31 July 202528 August 2025EDGAR
10-K30 April 202513 June 2025EDGAR
10-Q31 January 20255 March 2025EDGAR
10-Q31 October 20245 December 2024EDGAR
10-Q31 July 202429 August 2024EDGAR
10-K30 April 202414 June 2024EDGAR

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