Brown-Forman Corporation, together with its subsidiaries, manufactures, distills, bottles, imports, exports, markets, and sells a variety of alcohol beverages. It provides spirits, wines, whiskey spirits, whiskey-based flavored liqueurs, ready-to-drink cocktails, ready-to-pour products, vodkas, tequilas, gin, brandy, rum, bourbons, and liqueurs. The company offers its products primarily under the Jack Daniel's, Woodford Reserve, Old Forester, Gentleman Jack, Herradura, el Jimador, Fords Gin, The Glendronach, Benriach, Glenglassaugh, and Slane brands. It is also involved in the sale of used barrels, and bulk whiskey and wine; and provision of contract bottling services. The company serves retail customers and consumers through distributors and state governments; and retailers, wholesalers, and provincial governments directly. It operates in the United States, Germany, Australia, the United Kingdom, Canada, France, Mexico, Poland, Brazil, TΓΌrkiye, and internationally. Brown-Forman Corporation was founded in 1870 and is headquartered in Louisville, Kentucky.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $4.0B | $1.3B | $869M | $431M | 21.8% | -4.9% | -15.1% |
| 2024 | $4.2B | $1.5B | $1.0B | $419M | 29.1% | -1.2% | 30.8% |
| 2023 | $4.2B | $1.2B | $783M | $457M | 24.0% | 7.5% | -6.6% |
| 2022 | $3.9B | $1.3B | $838M | $798M | 30.6% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 3,933 | 4,228 | 4,178 | 3,975 |
| Cost Of Revenue | 1,542 | 1,734 | 1,652 | 1,632 |
| Gross Profit | 2,391 | 2,494 | 2,526 | 2,343 |
| Operating Expense | 1,187 | 1,367 | 1,379 | 1,176 |
| Operating Income | 1,204 | 1,127 | 1,147 | 1,167 |
| EBITDA | 1,275 | 1,187 | 1,512 | 1,290 |
| EBIT | 1,196 | 1,107 | 1,425 | 1,203 |
| Pretax Income | 1,114 | 1,017 | 1,298 | 1,081 |
| Tax Provision | 276 | 234 | 274 | 212 |
| Net Income | 838 | 783 | 1,024 | 869 |
| Net Income Common Stockholders | 838 | 783 | 1,024 | 869 |
| Total Expenses | 2,729 | 3,101 | 3,031 | 2,808 |
| Interest Expense | 82 | 90 | 127 | 122 |
| Interest Income | 5 | 9 | 14 | 17 |
| Selling General And Administration | 1,128 | 1,248 | 1,355 | 1,228 |
| Normalized EBITDA | 1,275 | 1,187 | 1,245 | 1,350 |
| Normalized Income | 838 | 783 | 813.60 | 917.24 |
| Market Cap | 12,985.90 | 12,985.90 | 12,985.90 | 12,985.90 |
Consumer Defensive sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Brown-Forman Corporationthis co. | BF-B | $13.4B | 14.94β discount | 3.25 | 21.8% | 11.84 |
| Kimberly-Clark Corporation | KMB | $32.5B | 16.07 | 21.62 | 134.6% | 12.56 |
| Church & Dwight Co., Inc. | CHD | $23.0B | 30.55 | 5.62 | 18.4% | 18.70 |
| Tyson Foods, Inc. | TSN | $22.1B | 47.56 | 1.25 | 2.6% | 11.69 |
| Dollar Tree, Inc. | DLTR | $21.4B |
| 15.96 |
| 5.45 |
| 34.2% |
| 11.34 |
| Bunge Global SA | BG | $20.6B | 29.67 | 1.52 | 5.1% | 15.79 |
| General Mills, Inc. | GIS | $19.5B | 8.13 | 2.03 | 24.9% | 8.56 |
| McCormick & Company, Incorporated | MKC | $13.8B | 17.55 | 2.41 | 13.8% | 13.37 |
| Hormel Foods Corporation | HRL | $11.8B | 24.80 | 1.50 | 6.1% | 13.97 |
| Peer Median | - | 21.17 | 2.22 | 16.1% | 12.96 | |