MARKETS / NYSE / BF-A

NYSE · BEVERAGES · LARGE CAP

Brown Forman Corp. BF-A

18 fiscal years on record · USD · FY2025 reported · SEC filings only

3 YEARS OF DIVIDEND GROWTH

Revenue

$3.9B

▼ 1.2% YoY

Net income

$715.0M

▼ 17.7% YoY

Free cash flow

$893.0M

▲ 107.2% YoY

In brief

What this company does

The company manufactures, distills, bottles, imports, exports, markets, and sells a variety of beverage alcohol products under various brands. It employs approximately 4,900 people on six continents, including approximately 1,900 people in the United States and 700 people in Louisville, Kentucky, its world headquarters. It sells its products in over 170 countries. In fiscal 2026, the United States accounted for 42% of its net sales, with the remaining 58% outside the United States. Its portfolio includes more than 40 spirit and ready-to-drink cocktail brands. Brown-Forman Corporation was incorporated under the laws of the State of Delaware in 1933, successor to a business founded in 1870 as a partnership and later incorporated under the laws of the Commonwealth of Kentucky in 1901.

Written from the business description in BROWN FORMAN CORP's annual report to the U.S. Securities and Exchange Commission, filed 12 June 2026. Every sentence was checked against that document before publication.

Growth

USD 3.9B

Revenue, FY2025 · full 18-year series below

Revenue $B Net income $B

FY2025 · Revenue 3.9 · Net income 0.7

Compound annual growth

Revenue

−2.4%

+2.6%

−0.2%

+1.0%

Net income

−3.0%

−4.6%

−3.9%

+1.5%

EPS, diluted

−2.1%

−4.0%

Dividend / share

+5.1%

+5.3%

Returned to shareholders

+29.8%

+19.6%

−4.9%

+4.1%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +2.6% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

18 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 25.5% · Net 18.2%

ROE

FY2025 · ROE 17.8%

Gross margin60.5%

Operating margin25.5%

Net margin18.2%

Return on assets8.9%

EBITDA—

Each USD of equity produced 18 cents of profit this year.

Cash & shareholders

USD 827.0M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF 893.0

Net buybacks $B Dividends $B

FY2025 · Dividends 0.4 · Net buybacks 0.4

Dividends paidUSD 427.0M

Net buybacksUSD 400.0M

Share of profit115.7%

Consecutive raises3 years

USD 427.0M in dividends and USD 400.0M in buybacks — 116% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 7.9B

EquityUSD 4.0B

CashUSD 308.0M

Gross debtUSD 2.4B

Net debtUSD 2.1B

Current ratio3.24×

Net debt stands at 53% of equity.

The 18-year record

18 fiscal years

Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
Revenue $B	3.9	4.0	4.2	4.2	3.9	3.5	3.4	3.3	3.2	3.0	4.0	4.1	3.9	3.8	3.6	3.4	3.2	3.2
Operating income $B	1.0	1.1	1.4	1.1	1.2	1.2	1.1	1.1	1.0	1.0	1.5	1.0	1.0	0.9	0.8	0.9	0.7	0.7
EBITDA $B	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·
Income tax $B	0.2	0.2	0.3	0.2	0.3	0.2	0.2	0.2	0.3	0.3	0.4	0.3	0.3	0.3	0.2	0.3	0.2	0.2
Net income $B	0.7	0.9	1.0	0.8	0.8	0.9	0.8	0.8	0.7	0.7	1.1	0.7	0.7	0.6	0.5	0.6	0.4	0.4
Free cash flow $B	0.9	0.4	0.4	0.5	0.8	0.8	0.6	0.7	0.5	0.5	0.4	0.5	0.5	0.4	0.5	0.5	0.5	0.4
EPS, diluted $	1.53	1.84	2.14	1.63	1.74	1.88	1.72	1.73	1.48	1.37	2.09	1.60	3.06	2.75	2.37	2.60	3.02	2.87
Dividend / sh $	0.92	0.89	0.85	0.79	1.74	0.71	0.68	0.65	1.61	0.56	0.52	0.60	1.09	4.98	0.89	1.49	1.18	·
Payout %	60	48	39	48	99	37	39	37	108	41	25	37	35	180	37	57	39	39
ROE %	17.8	23.1	30.2	26.1	31.1	39.0	45.7	56.4	53.4	45.6	61.6	34.7	36.0	32.0	24.8	28.9	24.2	24.0
Shares out B	·	0.47	0.47	0.48	0.48	0.48	0.48	0.48	0.48	0.08	0.08	0.08	0.08	0.06	0.06	0.06	0.06	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 88 reconciliationsAUDITED

Reconciled in 18 of 19 fiscal years. 7 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityBeverages

Listed onNYSE

Incorporated inDelaware

Fiscal year endsApril 30

Data on record since2008