Income Statement Brown-Forman Corporation

Stocks

BF.B

US1156372096

Distillers & Wineries

Market Closed - NYSE Other stock markets 21:00:03 20/07/2026 BST			5-day change	1st Jan Change
26.41 ^USD	+3.24%		+0.61%	+1.34%

07-14	CPI Brings Relief, but Oil Is Back in Charge
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628582f11d23944528f3c08.FjOA91vJlJubwIsud76kuXunyC1_oC-QSTNcyS72v1o.X3vKxgyd3O_RqO9hNdn99xHummEbk0DfG2YG-mCT4Dx8ZLSyPv_90dSOzg

Published financial data: BROWN-FORMAN CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: April	2022	2023	2024	2025	2026
Revenues	3.93B	4.23B	4.18B	3.98B	3.93B
Total Revenues	3.93B	4.23B	4.18B	3.98B	3.93B
Cost of Goods Sold, Total	1.54B	1.73B	1.65B	1.63B	1.55B
Gross Profit	2.39B	2.49B	2.53B	2.34B	2.38B
Selling General & Admin Expenses, Total	1.14B	1.27B	1.36B	1.23B	1.3B
Other Operating Expenses	14M	-5M	23M	-48M	-22M
Other Operating Expenses, Total	1.16B	1.26B	1.38B	1.18B	1.27B
Operating Income	1.24B	1.23B	1.14B	1.16B	1.1B
Interest Expense, Total	-82M	-90M	-127M	-122M	-103M
Interest And Investment Income	5M	9M	14M	17M	14M
Net Interest Expenses	-77M	-81M	-113M	-105M	-89M
Income (Loss) On Equity Invest.	-	-	-	83M	-
Currency Exchange Gains (Loss)	7M	16M	8M	-4M	6M
EBT, Excl. Unusual Items	1.17B	1.17B	1.04B	1.13B	1.02B
Restructuring Charges	-	-	-	-60M	-19M
Merger & Related Restructuring Charges	-	-55M	-	-	-
Gain (Loss) On Sale Of Assets	-	-	274M	12M	-
Asset Writedown	-52M	-96M	-7M	-47M	-132M
Other Unusual Items	-	-	-9M	43M	15M
EBT, Incl. Unusual Items	1.11B	1.02B	1.3B	1.08B	885M
Income Tax Expense	276M	234M	274M	212M	170M
Earnings From Continuing Operations	838M	783M	1.02B	869M	715M
Net Income to Company	838M	783M	1.02B	869M	715M
Net Income - (IS)	838M	783M	1.02B	869M	715M
Net Income to Common Incl Extra Items	838M	783M	1.02B	869M	715M
Net Income to Common Excl. Extra Items	838M	783M	1.02B	869M	715M
Per Share Items
Net EPS - Basic	1.75	1.63	2.15	1.84	1.53
Basic EPS - Continuing Operations	1.75	1.63	2.15	1.84	1.53
Basic Weighted Average Shares Outstanding	479M	479M	476M	473M	466M
Net EPS - Diluted	1.74	1.63	2.14	1.84	1.53
Diluted EPS - Continuing Operations	1.74	1.63	2.14	1.84	1.53
Diluted Weighted Average Shares Outstanding	481M	480M	477M	473M	467M
Normalized Basic EPS	1.52	1.52	1.36	1.5	1.37
Normalized Diluted EPS	1.52	1.52	1.36	1.5	1.37
Dividend Per Share	0.74	0.79	0.85	0.89	0.92
Payout Ratio	42	48.28	39.45	48.33	59.72
Supplemental Items
EBITDA	1.32B	1.31B	1.23B	1.25B	1.18B
EBITA	1.24B	1.23B	1.14B	1.16B	1.1B
EBIT	1.24B	1.23B	1.14B	1.16B	1.1B
EBITDAR	1.35B	1.35B	1.28B	1.29B	1.23B
Total Revenues (As Reported)	3.93B	4.23B	4.18B	3.98B	3.93B
Effective Tax Rate - (Ratio)	24.78	23.01	21.11	19.61	19.21
Current Domestic Taxes	223M	191M	175M	178M	139M
Current Foreign Taxes	64M	46M	81M	73M	68M
Total Current Taxes	287M	237M	256M	251M	207M
Deferred Domestic Taxes	-2M	-9M	23M	-58M	-19M
Deferred Foreign Taxes	-9M	6M	-5M	19M	-18M
Total Deferred Taxes	-11M	-3M	18M	-39M	-37M
Normalized Net Income	729M	730M	650M	708M	638M
Non-Cash Pension Expense	13M	28M	1M	2M	25M
Supplemental Operating Expense Items
Advertising Expense	438M	506M	529M	484M	462M
Selling and Marketing Expenses	438M	506M	529M	484M	462M
Net Rental Expense, Total	38M	38M	51M	45M	47M
Imputed Operating Lease Interest Expense	10.03M	10.24M	16.73M	14.56M	14.22M
Imputed Operating Lease Depreciation	27.97M	27.76M	34.27M	30.44M	32.78M
Stock-Based Comp., SG&A Exp. (Total)	15M	18M	25M	28M	32M
Stock-Based Comp., Other (Total)	-	-	-	-	-
Total Stock-Based Compensation	15M	18M	25M	28M	32M

Fiscal Period: April	2022	2023	2024	2025	2026
Assets
Cash And Equivalents	868M	374M	446M	444M	308M
Total Cash And Short Term Investments	868M	374M	446M	444M	308M
Accounts Receivable, Total	813M	855M	769M	830M	832M
Total Receivables	813M	855M	769M	830M	832M
Inventory	1.82B	2.28B	2.56B	2.51B	2.54B
Prepaid Expenses	155M	122M	100M	-	-
Restricted Cash	6M	10M	-	19M	19M
Other Current Assets, Total	116M	157M	165M	391M	289M
Total Current Assets	3.78B	3.8B	4.04B	4.2B	3.99B
Gross Property Plant And Equipment	1.8B	2B	2.04B	2.04B	2.14B
Accumulated Depreciation	-849M	-889M	-866M	-844M	-922M
Net Property Plant And Equipment	949M	1.12B	1.17B	1.2B	1.22B
Long-term Investments	-	-	270M	3M	-
Goodwill	761M	1.46B	1.46B	1.5B	1.52B
Other Intangibles, Total	586M	1.16B	990M	981M	943M
Deferred Tax Assets Long-Term	74M	66M	69M	47M	35M
Other Long-Term Assets, Total	227M	174M	176M	159M	181M
Total Assets	6.37B	7.78B	8.17B	8.09B	7.89B
Liabilities
Accounts Payable, Total	218M	308M	267M	243M	214M
Accrued Expenses, Total	463M	496M	502M	461M	535M
Short-term Borrowings	-	235M	428M	312M	68M
Current Portion of Long-Term Debt	250M	-	300M	-	351M
Current Portion of Leases	21M	22M	24M	26M	31M
Current Income Taxes Payable	81M	22M	38M	27M	18M
Other Current Liabilities	1M	1M	-	11M	15M
Total Current Liabilities	1.03B	1.08B	1.56B	1.08B	1.23B
Long-Term Debt	2.02B	2.68B	2.37B	2.42B	2.08B
Long-Term Leases	54M	63M	73M	78M	78M
Pension & Other Post Retirement Benefits	183M	171M	160M	164M	172M
Deferred Tax Liability Non Current	219M	323M	315M	241M	207M
Other Non Current Liabilities	127M	190M	170M	109M	102M
Total Liabilities	3.64B	4.51B	4.65B	4.09B	3.87B
Common Stock, Total	72M	72M	72M	72M	72M
Additional Paid In Capital	-	1M	13M	36M	62M
Retained Earnings	3.24B	3.64B	4.26B	4.71B	5B
Treasury Stock	-225M	-213M	-608M	-605M	-1B
Comprehensive Income and Other	-352M	-235M	-221M	-220M	-108M
Total Common Equity	2.74B	3.27B	3.52B	3.99B	4.02B
Total Equity	2.74B	3.27B	3.52B	3.99B	4.02B
Total Liabilities And Equity	6.37B	7.78B	8.17B	8.09B	7.89B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	479M	479M	473M	473M	459M
ECS Total Common Shares Outstanding	479M	479M	473M	473M	459M
Book Value / Share	5.71	6.83	7.44	8.45	8.76
Tangible Book Value	1.39B	647M	1.07B	1.51B	1.56B
Tangible Book Value Per Share	2.9	1.35	2.27	3.19	3.39
Total Debt	2.34B	3B	3.2B	2.84B	2.61B
Net Debt	1.48B	2.62B	2.75B	2.39B	2.3B
Debt Equivalent of Unfunded Proj. Benefit Obligation	105M	125M	103M	107M	101M
Debt Equivalent Oper. Leases	304M	304M	408M	360M	376M
Equity Method Investments, Total	-	-	270M	3M	-
Account Code - Inventory Valuation	4	4	4	4	4
LIFO Reserve, Total	-385M	-429M	-512M	600M	702M
Inventories - Raw Materials, Total	126M	191M	218M	90M	85M
Inventories - Work In Process, Total	1.38B	1.58B	1.89B	1.94B	1.98B
Inventories - Finished Goods, Total	312M	509M	452M	476M	482M
Land - (BS)	86M	97M	49M	49M	57M
Buildings, Total	660M	717M	782M	841M	917M
Machinery, Total	849M	889M	928M	869M	948M
Full Time Employees	5.2K	5.6K	5.7K	5K	4.9K
Part Time Employees	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	13M	7M	8M	7M	6M

Fiscal Period: April	2022	2023	2024	2025	2026
Net Income	838M	783M	1.02B	869M	715M
Depreciation & Amortization - CF	79M	80M	87M	87M	81M
Depreciation & Amortization, Total	79M	80M	87M	87M	81M
(Gain) Loss From Sale Of Asset	-	-	-267M	-	-
Asset Writedown & Restructuring Costs	61M	96M	7M	49M	132M
(Income) Loss On Equity Investments - (CF)	-	-	-	-83M	-
Stock-Based Compensation (CF)	15M	18M	25M	28M	32M
Other Operating Activities, Total	20M	15M	34M	-99M	-42M
Change In Accounts Receivable	-77M	-21M	88M	-70M	25M
Change In Inventories	-93M	-403M	-349M	-64M	-22M
Change In Accounts Payable	37M	77M	-31M	-40M	36M
Change In Income Taxes	47M	-57M	17M	-13M	-7M
Change in Other Net Operating Assets	9M	52M	12M	-66M	50M
Cash from Operations	936M	640M	647M	598M	1B
Capital Expenditure	-138M	-183M	-228M	-167M	-107M
Sale of Property, Plant, and Equipment	-	-	-	-	33M
Cash Acquisitions	-	-1.2B	-	-	-
Divestitures	-	-	246M	-	-
Sale (Purchase) of Intangible assets	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-	-	-	350M	-
Other Investing Activities, Total	11M	23M	31M	66M	3M
Cash from Investing	-127M	-1.36B	49M	249M	-71M
Short Term Debt Issued, Total	-	834M	192M	-	-
Long-Term Debt Issued, Total	-	648M	-	-	-
Total Debt Issued	-	1.48B	192M	-	-
Short Term Debt Repaid, Total	-196M	-600M	-	-117M	-244M
Long-Term Debt Repaid, Total	-	-250M	-	-300M	-
Total Debt Repaid	-196M	-850M	-	-417M	-244M
Repurchase of Common Stock	-11M	-	-400M	-	-400M
Common Dividends Paid	-352M	-378M	-404M	-420M	-427M
Common & Preferred Stock Dividends Paid	-352M	-378M	-404M	-420M	-427M
Special Dividend Paid	-479M	-	-	-	-
Other Financing Activities, Total	-	-15M	-6M	-6M	-3M
Cash from Financing	-1.04B	239M	-618M	-843M	-1.07B
Foreign Exchange Rate Adjustments	-47M	-14M	-6M	3M	9M
Miscellaneous Cash Flow Adjustments	-	-10M	-10M	-19M	-19M
Net Change in Cash	-276M	-500M	62M	-12M	-155M
Supplemental Items
Cash Interest Paid	80M	85M	125M	119M	101M
Cash Income Tax Paid (Refund)	226M	278M	242M	303M	232M
Levered Free Cash Flow	606M	174M	337M	370M	740M
Unlevered Free Cash Flow	658M	231M	417M	446M	804M
Change In Net Working Capital	71M	455M	183M	226M	-108M
Net Debt Issued / Repaid	-196M	632M	192M	-417M	-244M

Fiscal Period: April	2022	2023	2024	2025	2026
Profitability
Return on Assets	11.98	10.89	8.98	8.91	8.64
Return on Total Capital	14.91	13.58	11.03	10.7	10.25
Return On Equity %	31.08	26.08	30.18	23.14	17.85
Return on Common Equity	31.08	26.08	30.18	23.14	17.85
Margin Analysis
Gross Profit Margin %	60.79	58.99	60.46	58.94	60.54
SG&A Margin	29.01	29.94	32.5	30.99	32.99
EBITDA Margin %	33.44	31.05	29.49	31.35	30.17
EBITA Margin %	31.43	29.16	27.41	29.16	28.11
EBIT Margin %	31.43	29.16	27.41	29.16	28.11
Income From Continuing Operations Margin %	21.31	18.52	24.51	21.86	18.2
Net Income Margin %	21.31	18.52	24.51	21.86	18.2
Net Avail. For Common Margin %	21.31	18.52	24.51	21.86	18.2
Normalized Net Income Margin	18.53	17.27	15.56	17.81	16.25
Levered Free Cash Flow Margin	15.41	4.12	8.07	9.31	18.83
Unlevered Free Cash Flow Margin	16.72	5.45	9.97	11.23	20.47
Asset Turnover
Asset Turnover	0.61	0.6	0.52	0.49	0.49
Fixed Assets Turnover	4.26	4.1	3.66	3.36	3.25
Receivables Turnover (Average Receivables)	5.02	5.07	5.15	4.97	4.73
Inventory Turnover (Average Inventory)	0.86	0.85	0.68	0.64	0.61
Short Term Liquidity
Current Ratio	3.65	3.51	2.59	3.88	3.24
Quick Ratio	1.63	1.13	0.78	1.18	0.93
Operating Cash Flow to Current Liabilities	0.91	0.59	0.42	0.55	0.81
Days Sales Outstanding (Average Receivables)	72.67	72	71.13	73.41	77.22
Days Outstanding Inventory (Average Inventory)	422.4	431.62	536.04	566.62	595.07
Average Days Payable Outstanding	44.24	43.65	54.66	58.65	52.72
Cash Conversion Cycle (Average Days)	450.83	459.97	552.51	581.39	619.57
Long Term Solvency
Total Debt/Equity	85.64	91.74	90.9	71.05	64.95
Total Debt / Total Capital	46.13	47.85	47.62	41.54	39.38
LT Debt/Equity	75.74	83.87	69.52	62.58	53.76
Long-Term Debt / Total Capital	40.8	43.74	36.42	36.59	32.59
Total Liabilities / Total Assets	57.05	57.98	56.93	50.62	49.08
EBIT / Interest Expense	15.07	13.7	9.02	9.5	10.72
EBITDA / Interest Expense	16.5	15.01	10.1	10.58	11.96
(EBITDA - Capex) / Interest Expense	14.82	12.98	8.31	9.21	10.92
Total Debt / EBITDA	1.73	2.22	2.49	2.2	2.12
Net Debt / EBITDA	1.09	1.94	2.14	1.85	1.87
Total Debt / (EBITDA - Capex)	1.93	2.57	3.03	2.52	2.32
Net Debt / (EBITDA - Capex)	1.21	2.25	2.61	2.13	2.05
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	13.64	7.5	-1.18	-4.86	-1.18
Gross Profit, 1 Yr. Growth %	14.18	4.31	1.28	-7.24	1.36
EBITDA, 1 Yr. Growth %	20.31	-0.15	-6.17	1.14	-5.12
EBITA, 1 Yr. Growth %	21.65	-0.24	-7.14	1.22	-4.99
EBIT, 1 Yr. Growth %	21.65	-0.24	-7.14	1.22	-4.99
Earnings From Cont. Operations, 1 Yr. Growth %	-7.2	-6.56	30.78	-15.14	-17.72
Net Income, 1 Yr. Growth %	-7.2	-6.56	30.78	-15.14	-17.72
Normalized Net Income, 1 Yr. Growth %	22.22	0.17	-10.96	8.94	-10.12
Diluted EPS Before Extra, 1 Yr. Growth %	-7.45	-6.32	31.29	-14.09	-16.78
Accounts Receivable, 1 Yr. Growth %	7.97	5.17	-10.06	7.93	0.24
Inventory, 1 Yr. Growth %	3.83	25.58	11.96	-1.76	1.27
Net Property, Plant and Equip., 1 Yr. Growth %	5.56	17.49	4.93	2.22	2.17
Total Assets, 1 Yr. Growth %	-2.28	22.03	5	-0.98	-2.37
Tangible Book Value, 1 Yr. Growth %	15.74	-53.45	65.69	40.58	3.19
Common Equity, 1 Yr. Growth %	3.05	19.4	7.62	13.53	0.68
Cash From Operations, 1 Yr. Growth %	14.57	-31.62	1.09	-7.57	67.22
Capital Expenditures, 1 Yr. Growth %	122.58	32.61	24.59	-26.75	-35.93
Levered Free Cash Flow, 1 Yr. Growth %	1.66	-71.24	93.4	9.75	98.82
Unlevered Free Cash Flow, 1 Yr. Growth %	1.62	-64.92	80.65	7.14	79.36
Dividend Per Share, 1 Yr. Growth %	4.01	7.07	7.44	4.96	2.97
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	8.14	10.53	3.07	-3.04	-3.04
Gross Profit, 2 Yr. CAGR %	6.02	9.13	2.78	-3.07	-2.97
EBITDA, 2 Yr. CAGR %	5.83	9.6	-3.21	-0.48	-1.85
EBITA, 2 Yr. CAGR %	6	10.16	-3.75	-0.81	-1.72
EBIT, 2 Yr. CAGR %	6	10.16	-3.75	-0.81	-1.72
Earnings From Cont. Operations, 2 Yr. CAGR %	0.66	-6.88	10.54	5.35	-16.44
Net Income, 2 Yr. CAGR %	0.66	-6.88	10.54	5.35	-16.44
Normalized Net Income, 2 Yr. CAGR %	7.5	10.65	-5.56	0.89	-0.82
Diluted EPS Before Extra, 2 Yr. CAGR %	0.58	-6.89	10.9	6.2	-15.45
Accounts Receivable, 2 Yr. CAGR %	19.43	6.56	-2.74	-1.47	4.02
Inventory, 2 Yr. CAGR %	3.87	14.19	18.57	4.87	-0.25
Net Property, Plant and Equip., 2 Yr. CAGR %	2.74	11.37	11.03	3.57	2.2
Total Assets, 2 Yr. CAGR %	5.13	9.2	13.2	1.97	-1.68
Tangible Book Value, 2 Yr. CAGR %	54.28	-26.6	-12.18	52.62	20.44
Common Equity, 2 Yr. CAGR %	17.72	10.92	13.36	10.54	6.91
Cash From Operations, 2 Yr. CAGR %	13.7	-11.49	-16.86	-3.34	24.32
Capital Expenditures, 2 Yr. CAGR %	10.51	71.8	28.54	-4.47	-31.49
Levered Free Cash Flow, 2 Yr. CAGR %	21.86	-45.93	-25.42	62.6	48.37
Unlevered Free Cash Flow, 2 Yr. CAGR %	19.62	-40.3	-20.4	50.82	39.13
Dividend Per Share, 2 Yr. CAGR %	3.99	5.53	7.25	6.19	3.96
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	5.77	7.93	6.48	0.35	-2.42
Gross Profit, 3 Yr. CAGR %	3.35	5.45	6.45	-0.67	-1.58
EBITDA, 3 Yr. CAGR %	3.44	3.8	4.07	-1.78	-1.97
EBITA, 3 Yr. CAGR %	3.46	3.88	4.06	-2.12	-2.14
EBIT, 3 Yr. CAGR %	3.46	3.88	4.06	-2.12	-2.14
Earnings From Cont. Operations, 3 Yr. CAGR %	0.12	-1.81	4.28	1.22	-2.98
Net Income, 3 Yr. CAGR %	0.12	-1.81	4.28	1.22	-2.98
Normalized Net Income, 3 Yr. CAGR %	3.82	5	2.92	-0.95	-2.83
Diluted EPS Before Extra, 3 Yr. CAGR %	0.19	-1.78	4.41	1.85	-2.09
Accounts Receivable, 3 Yr. CAGR %	10.11	14.47	0.7	0.69	-0.9
Inventory, 3 Yr. CAGR %	6.15	10.65	13.44	11.37	3.66
Net Property, Plant and Equip., 3 Yr. CAGR %	5.16	7.44	9.18	8.02	3.1
Total Assets, 3 Yr. CAGR %	7.44	10.49	7.78	8.26	0.5
Tangible Book Value, 3 Yr. CAGR %	77.39	3.47	-3.72	2.73	33.95
Common Equity, 3 Yr. CAGR %	18.45	18.28	9.81	13.42	7.15
Cash From Operations, 3 Yr. CAGR %	5.37	-4.03	-7.48	-13.87	16.04
Capital Expenditures, 3 Yr. CAGR %	5.06	17.43	54.35	6.56	-16.38
Levered Free Cash Flow, 3 Yr. CAGR %	9.76	-24.69	-17.31	-15.17	74.17
Unlevered Free Cash Flow, 3 Yr. CAGR %	8.59	-20.53	-13.65	-12.11	60.01
Dividend Per Share, 3 Yr. CAGR %	4.34	5.01	6.16	6.48	5.11
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	5.61	5.42	4.68	3.4	2.56
Gross Profit, 5 Yr. CAGR %	3.42	2.52	3.12	1.95	2.58
EBITDA, 5 Yr. CAGR %	4.62	3.72	0.73	1.2	1.63
EBITA, 5 Yr. CAGR %	4.52	3.66	0.51	1.05	1.68
EBIT, 5 Yr. CAGR %	4.52	3.66	0.51	1.05	1.68
Earnings From Cont. Operations, 5 Yr. CAGR %	4.61	1.78	4.17	1	-4.56
Net Income, 5 Yr. CAGR %	4.61	1.78	4.17	1	-4.56
Normalized Net Income, 5 Yr. CAGR %	4.56	3.64	-0.04	2.35	1.37
Diluted EPS Before Extra, 5 Yr. CAGR %	4.9	1.95	4.35	1.34	-4.04
Accounts Receivable, 5 Yr. CAGR %	7.86	6	4.78	7.81	2.02
Inventory, 5 Yr. CAGR %	7.44	10.61	10.95	8.31	7.75
Net Property, Plant and Equip., 5 Yr. CAGR %	5.89	7.41	7.47	5.88	6.33
Total Assets, 5 Yr. CAGR %	6.62	9.34	9.7	7	3.89
Tangible Book Value, 5 Yr. CAGR %	125.2	40.78	33.91	20.88	5.3
Common Equity, 5 Yr. CAGR %	14.84	19.95	16.38	15.12	8.64
Cash From Operations, 5 Yr. CAGR %	7.37	-0.4	-4.16	-3.75	4.13
Capital Expenditures, 5 Yr. CAGR %	4.26	7.58	13.89	8.13	11.53
Levered Free Cash Flow, 5 Yr. CAGR %	12.9	-19.17	-5.96	-1.94	4.4
Unlevered Free Cash Flow, 5 Yr. CAGR %	12.35	-15.89	-4.1	-0.58	4.44
Dividend Per Share, 5 Yr. CAGR %	5.47	5.32	5.49	5.48	5.28