Brown-Forman Corporation
Financial Performance
Brown-Forman Revenue & Financials
Revenue
$3.9B (FY2026)
Market Cap
$12.1B
Net Income
$715M
Employees
4,900
What is Brown-Forman's revenue?
Brown-Forman had $3.9B in revenue for fiscal year 2026, down 1.2% from 2025. Net income was $715M.
- Latest revenue
- $3.9B (FY2026)
- Year-over-year
- -1.2%
- Growth rate (CAGR)
- 3.1% over 9 years
- Peak revenue
- $4.2B (FY2023)
- Years of data
- 10
- Employees
- 4,900
- What is Brown-Forman's operating income?
- Brown-Forman reported operating income of $1B for fiscal year 2026. sec.gov
- How much profit does Brown-Forman make?
- Brown-Forman reported net income of $715M for fiscal year 2026. sec.gov
- How many employees does Brown-Forman have?
- Brown-Forman has about 4,900 employees.
Financial Analysis
Fiscal 2026 (year ended April 30, 2026) net sales fell 1% to $3.93 billion, flat on an organic basis, as the end of the Korbel agency and the lapse of a Sonoma-Cutrer transition services agreement offset the launch of Jack Daniel's Tennessee Blackberry. Gross margin widened 160 basis points to 60.5%, but operating income fell 10% to $1.0 billion and the operating margin slipped to 25.5% on higher non-cash impairment charges and SG&A costs that included the contemplated business-combination talks. Diluted EPS was $1.53. Cash generation was the standout: operating cash flow rose $402 million to about $1.0 billion and free cash flow rose $462 million to $893 million, funding $427 million of dividends and $400 million of buybacks. In the first quarter of fiscal 2027, net sales slipped 1% to $911 million and diluted EPS rose 6% to $0.38. Brown-Forman has paid a regular quarterly dividend for 82 consecutive years and raised it for 42. Brown-Forman Corporation is one of the largest American-owned spirits and wine companies, commanding a market valuation typically over $20 billion.
Revenue Trend Analysis
YoY Change
-1.2%
9-Year CAGR
+3.1%
Peak Year
2023
Trend
Mostly Growing
Brown-Forman Corporation has 10 full fiscal year figures on this page, compounding at +3.1% annually over 9 years. The most recent year saw a 1.2% decline versus the prior year. Annual revenue peaked in fiscal year 2023 at $4.2B. Of 9 comparable year-over-year steps, 6 showed growth and 3 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Operating Income | Net Income | YoY Change | Source |
|---|---|---|---|---|---|
| FY2026 | $3.9B | $1Bfiling | $715M | -1.2% | sec.gov Fiscal 2026 (ended April 30, 2026) net sales were $3.928B (-1%, flat organic); net income $715M; operating income $1.0B; free cash flow $893M. |
| FY2025 | $4B | $1.1Bfiling | $869M | -4.9% | data.sec.gov Fiscal 2025 net sales were $3.975B, down about 5% from fiscal 2024; net income $869M. |
| FY2024 | $4.2B | $1.4Bfiling | $1B | -1.2% | data.sec.gov Fiscal 2024 net sales were $4.178B; net income of $1.024B included gains on the Finlandia and Sonoma-Cutrer sales. |
| FY2023 | $4.2B | $1.1Bfiling | $783M | +7.5% | data.sec.gov Fiscal 2023 net sales were $4.228B; net income $783M. |
| FY2022 | $3.9B | $1.2B | $838M | +13.6% | Brown-Forman Corporation annual report (Form 10-K, SEC EDGAR, filed 2024-06-14) Fiscal year ended 2022-04-30. |
| FY2021 | $3.5B | $1.2B | $903M | +2.9% | Brown-Forman Corporation annual report (Form 10-K, SEC EDGAR, filed 2023-06-16) Fiscal year ended 2021-04-30. |
| FY2020 | $3.4B | $1.1B | $827M | +1.2% | Brown-Forman Corporation annual report (Form 10-K, SEC EDGAR, filed 2022-06-17) Fiscal year ended 2020-04-30. |
| FY2019 | $3.3B | $1.1B | $835M | +2.3% | Brown-Forman Corporation annual report (Form 10-K, SEC EDGAR, filed 2021-06-21) Fiscal year ended 2019-04-30. |
| FY2018 | $3.2B | $1Bfiling | $717M | +8.5% | Brown-Forman Corporation annual report (Form 10-K, SEC EDGAR, filed 2020-06-22) Fiscal year ended 2018-04-30. |
| FY2017 | $3B | $1B | $669M | — | Brown-Forman Corporation annual report (Form 10-K, SEC EDGAR, filed 2019-06-13) Fiscal year ended 2017-04-30. |
Click any row to see year details.
Brown-Forman Corporation balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row. Free cash flow here is operating cash flow less capital expenditures, calculated by CorpDigest.
| Fiscal Year | Operating cash flow | Capital expenditures | Total assets | Total liabilities | Shareholders' equity | Free cash flow | Source |
|---|---|---|---|---|---|---|---|
| FY2026ended Apr 30, 2026 | $1B | $107M | $7.9B | $3.9B | $4B | $893M | Form 10-K |
| FY2025ended Apr 30, 2025 | $598M | $167M | $8.1B | $4.1B | $4B | $431M | Form 10-K |
| FY2024ended Apr 30, 2024 | $647M | $228M | $8.2B | $4.6B | $3.5B | $419M | Form 10-K |
| FY2023ended Apr 30, 2023 | $640M | $183M | $7.8B | $4.5B | $3.3B | $457M | Form 10-K |
| FY2022ended Apr 30, 2022 | $936M | $138M | $6.4B | $3.6B | $2.7B | $798M | Form 10-K |
| FY2021ended Apr 30, 2021 | $817M | $62M | $6.5B | $3.9B | $2.7B | $755M | Form 10-K |
| FY2020ended Apr 30, 2020 | $724M | $113M | $5.8B | $3.8B | $2B | $611M | Form 10-K |
| FY2019ended Apr 30, 2019 | $800M | $119M | $5.1B | $3.5B | $1.6B | $681M | Form 10-K |
| FY2018ended Apr 30, 2018 | $653M | $127M | $5B | $3.7B | $1.3B | $526M | Form 10-K |
| FY2017ended Apr 30, 2017 | $656M | $112M | $4.6B | $3.3B | $1.4B | $544M | Form 10-K |
Keep researching Brown-Forman
Brown-Forman Revenue and Financial FAQ
What was Brown-Forman's revenue in fiscal 2026?
Brown-Forman reported $3.93 billion of net sales for the year ended April 30, 2026, down 1% and flat on an organic basis. The decline came mainly from the end of the Korbel relationship and the absence of a Sonoma-Cutrer transition services agreement, partly offset by Jack Daniel's Tennessee Blackberry.
How profitable is Brown-Forman?
Fiscal 2026 gross margin expanded 160 basis points to 60.5%. Operating income fell 10% to $1.0 billion, a 25.5% operating margin, on higher non-cash impairment charges and SG&A; net income was $715 million and diluted EPS $1.53.
How much free cash flow does Brown-Forman generate?
Operating cash flow grew $402 million to about $1.0 billion in fiscal 2026 and free cash flow rose $462 million to $893 million, helped by working-capital discipline and lower capital spending.
What is Brown-Forman's dividend record?
Brown-Forman has paid regular quarterly dividends for 82 consecutive years and raised them for 42 consecutive years, and it is a member of the S&P 500 Dividend Aristocrats. In fiscal 2026 it paid $427 million in dividends and completed a $400 million share buyback in December 2025.
How did Brown-Forman perform in the first quarter of fiscal 2027?
For the quarter ended July 31, 2026, net sales fell 1% to $911 million, operating income fell 3% to $252 million (+4% organic) and diluted EPS rose 6% to $0.38. RTD net sales rose 20% while tequila fell 12%.
What is Brown-Forman's fiscal 2027 outlook?
Brown-Forman expects roughly flat organic net sales, a 3% to 5% decline in organic operating income, an effective tax rate of about 20% to 22% and capital expenditures of $60 million to $70 million. It reaffirmed the outlook on September 2, 2026.
What is Brown-Forman's market cap?
Brown-Forman's market capitalization was about $12.1 billion on September 28, 2026, with BF.B shares trading around $26, below the roughly $32-per-share cash proposal Sazerac made in 2026.
How has Brown-Forman's revenue changed in recent years?
Net sales were $4.23 billion in fiscal 2023, $4.18 billion in fiscal 2024, $3.98 billion in fiscal 2025 and $3.93 billion in fiscal 2026, as post-pandemic restocking reversed, brands were sold and the Korbel agency ended.
Is Brown-Forman profitable?
Yes, it is highly profitable. Distilled spirits have massive gross margins, and their sheer global scale allows them to generate consistent, strong free cash flow and reliable dividends.
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Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Brown-Forman Revenue & Financials." CorpDigest, https://corpdigest.com/company/brown-forman/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Brown-Forman reported $3.9B in revenue (FY2026).</strong><br>Source: <a href="https://corpdigest.com/company/brown-forman/financials" target="_blank" rel="noopener">CorpDigest — Brown-Forman financials</a></div>Related Financial Audits
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