Brown Forman (BF.B) FY2025 results: revenue $4.0 billion, down 4.9% on the year
Brown Forman Corp. (BF.B) reported revenue of $4.0 billion for fiscal 2025, the year ended 30 April 2025, down 4.9% on the year before. Net income was $869 million, down 15.1%, and diluted earnings per share $1.84. The figures are the company's own, from the 10-K it filed with the SEC on 13 June 2025.
Revenue
$4.0 billion
-4.9% on the year
FY2018FY2025
Operating margin
27.8%
33.8% a year earlier
FY2018FY2025
Net income
$869 million
-15.1% on the year
FY2018FY2025
Diluted EPS
$1.84
-14.0% on the year
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
$ 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
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
598
647
640
-7.6%
Capital expenditure
167
228
183
-26.8%
Free cash flow
431
419
457
+2.9%
Free cash flow margin
10.8%
10.0%
10.8%
Cash from investing
249
49.0
-1,355
+408.2%
Cash from financing
-843
-618
239
Depreciation and amortisation
87.0
87.0
80.0
0.0%
Share-based compensation
28.0
25.0
18.0
+12.0%
Buybacks
0.0
400
0.0
Dividends paid
420
404
378
+4.0%
Dividend per share
$0.89
$0.85
$0.79
+5.0%
Diluted shares, weighted
473m
477m
480m
-0.9%
Shares outstanding at period end
473m
473m
479m
+0.0%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
3,993
3,517
3,268
+13.5%
Debt
2,733
3,100
2,913
-11.8%
Operating lease liabilities
78.0
73.0
63.0
+6.8%
Other liabilities
1,282
1,476
1,533
-13.1%
Total liabilities and equity
8,086
8,166
7,777
-1.0%
Fixed assets
1,095
1,074
1,031
+2.0%
Goodwill
1,505
1,455
1,457
+3.4%
Intangible assets
981
990
1,164
-0.9%
Cash and equivalents
444
446
374
-0.4%
Receivables
830
769
855
+7.9%
Inventory
2,511
2,556
2,283
-1.8%
Other assets
720
876
613
-17.8%
Total assets
8,086
8,166
7,777
-1.0%
10-K for the year ended 30 April 2025, filed 13 June 2025: the filing.