Brown Forman (BF.B) FY2015 results: revenue $4.1 billion, up 3.8% on the year
Brown Forman Corp. (BF.B) reported revenue of $4.1 billion for fiscal 2015, the year ended 30 April 2015, up 3.8% on the year before. Net income was $684 million, up 3.8%, and diluted earnings per share $1.28. The figures are the company's own, from the 10-K it filed with the SEC on 18 June 2015.
Revenue
$4.1 billion
+3.8% on the year
FY2009FY2015
Operating margin
25.1%
24.6% a year earlier
FY2009FY2015
Net income
$684 million
+3.8% on the year
FY2009FY2015
Diluted EPS
$1.28
+4.9% on the year
FY2009FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
4,096
3,946
3,784
+3.8%
Cost of revenue
951
913
894
+4.2%
Gross profit
2,183
2,078
1,955
+5.1%
Gross margin
53.3%
52.7%
51.7%
Selling, general and administrative
697
686
650
+1.6%
Operating income
1,027
971
898
+5.8%
Operating margin
25.1%
24.6%
23.7%
Interest expense
27.0
26.0
36.0
+3.8%
Pre-tax income
1,002
947
865
+5.8%
Income tax
318
288
274
+10.4%
Effective tax rate
31.7%
30.4%
31.7%
Net income
684
659
591
+3.8%
Net margin
16.7%
16.7%
15.6%
Diluted EPS
$1.28
$1.22
$1.10
+4.9%
$ million except per share. Read moreFree 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.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
608
649
537
-6.3%
Capital expenditure
120
126
95.0
-4.8%
Free cash flow
488
523
442
-6.7%
Free cash flow margin
11.9%
13.3%
11.7%
Cash from investing
n/a
n/a
-97.0
Cash from financing
n/a
n/a
-576
Depreciation and amortisation
51.0
50.0
51.0
+2.0%
Share-based compensation
15.0
13.0
11.0
+15.4%
Buybacks
462
49.0
0.0
+842.9%
Dividends paid
256
233
1,063
+9.9%
Dividend per share
$0.48
$0.44
$1.99
+11.0%
Diluted shares, weighted
533m
538m
537m
-0.9%
Shares outstanding at period end
522m
534m
534m
-2.2%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
1,905
2,032
1,628
-6.2%
Short-term borrowings
n/a
n/a
3.0
Debt
1,183
1,005
999
+17.7%
Other liabilities
1,105
1,066
996
+3.7%
Total liabilities and equity
4,193
4,103
3,626
+2.2%
Fixed assets
586
526
450
+11.4%
Goodwill
607
620
617
-2.1%
Intangible assets
611
677
668
-9.7%
Cash and equivalents
370
437
204
-15.3%
Receivables
583
569
548
+2.5%
Inventory
953
882
827
+8.0%
Other assets
483
392
312
+23.2%
Total assets
4,193
4,103
3,626
+2.2%
10-K for the year ended 30 April 2015, filed 18 June 2015: the filing.