BF-B (Brown-Forman Corporation) Stock Financials & Earnings | Market Cap Arena

BF-B (Brown-Forman Corporation) Stock Financials & Earnings | Market Cap Arena

BF-BBrown-Forman Corporation

Mkt Cap$12B

Consumer Defensive·Beverages - Wineries & Distilleries·🇺🇸 United States·NYSE

Revenue (TTM)$3.9B

Net Income (TTM)$807M

EPS (TTM)$1.70

Free Cash Flow (TTM)$730M

Gross Margin59.4%

Op. Margin28.4%

Net Margin20.6%

FCF Margin18.6%

P/S Ratio (TTM)3.1x

P/E Ratio (TTM)14.8x

YoY Rev Growth-3.2%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q4 23	$1.0B	$635M	$298M
Q1 24	$1.0B	$651M	$327M
Q2 24	$1.1B	$671M	$339M
Q3 24	$1.1B	$635M	$373M
Q4 24	$964M	$569M	$375M
Q1 25	$951M	$565M	$281M
Q2 25	$1.1B	$646M	$341M
Q3 25	$1.0B	$619M	$280M
Q4 25	$894M	$513M	$205M
Q1 26	$924M	$552M	$260M
Q2 26	$1.0B	$620M	$307M
Q3 26	$1.1B	$640M	$340M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q4 23	2.8x	15.3x
Q1 24	2.8x	15.6x
Q2 24	2.8x	15.3x
Q3 24	2.8x	12.4x
Q4 24	2.9x	11.7x
Q1 25	2.9x	12.1x
Q2 25	2.9x	11.9x
Q3 25	3.0x	12.1x
Q4 25	3.0x	13.7x
Q1 26	3.0x	14.2x
Q2 26	3.1x	14.7x
Q3 26	3.1x	14.8x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 23	$230M	$164M
Q1 24	$38M	-$11M
Q2 24	$59M	$29M
Q3 24	$265M	$196M
Q4 24	$285M	$205M
Q1 25	$17M	-$24M
Q2 25	$112M	$81M
Q3 25	$317M	$272M
Q4 25	$152M	$102M
Q1 26	$160M	$129M
Q2 26	$132M	$107M
Q3 26	$417M	$392M

Capital Expenditures

CapEx

Quarter	CapEx
Q4 23	$66M
Q1 24	$49M
Q2 24	$30M
Q3 24	$69M
Q4 24	$80M
Q1 25	$41M
Q2 25	$31M
Q3 25	$45M
Q4 25	$50M
Q1 26	$31M
Q2 26	$25M
Q3 26	$25M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 23	+5.0%	-0.3%
Q1 24	+3.1%	+7.1%
Q2 24	+1.2%	-1.7%
Q3 24	-1.1%	-23.3%
Q4 24	-7.8%	-21.3%
Q1 25	-8.4%	-5.8%
Q2 25	-1.1%	-1.8%
Q3 25	-3.2%	+8.5%
Q4 25	-7.3%	+17.0%
Q1 26	-2.8%	-0.9%
Q2 26	-4.9%	-2.7%
Q3 26	+2.0%	-5.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 23	$5M	0.5%
Q1 24	$4M	0.4%
Q2 24	$7M	0.6%
Q3 24	$7M	0.7%
Q4 24	$7M	0.7%
Q1 25	$4M	0.4%
Q2 25	$9M	0.8%
Q3 25	$7M	0.7%
Q4 25	$8M	0.9%
Q1 26	$4M	0.4%
Q2 26	$8M	0.8%
Q3 26	$10M	0.9%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q4 23	$201M	$134M	—
Q1 24	$200M	$131M	—
Q2 24	$192M	$140M	—
Q3 24	$203M	$143M	—
Q4 24	$231M	$115M	—
Q1 25	$188M	$126M	—
Q2 25	$187M	$126M	—
Q3 25	$178M	$125M	—
Q4 25	$193M	$107M	—
Q1 26	$177M	$120M	—
Q2 26	$177M	$136M	—
Q3 26	—	—	$184M

Revenue Segments

Quarter	Non-branded and bulk	Ready-to-Drink	Rest of portfolio	Tequila	Vodka	Whiskey	Wine
Q4 23	$27M	$140M	$29M	$83M	$25M	$700M	$42M
Q1 24	$20M	$138M	$35M	$81M	$26M	$697M	$41M
Q2 24	$20M	$132M	$36M	$81M	$23M	$739M	$76M
Q3 24	$18M	$127M	$40M	$76M	$26M	$731M	$51M
Q4 24	$29M	$123M	$35M	$68M	$7M	$665M	$37M
Q1 25	$26M	$121M	$83M	$62M	—	$659M	—
Q2 25	$30M	$133M	$91M	$72M	—	$769M	—
Q3 25	$23M	$126M	$69M	$68M	—	$749M	—
Q4 25	$23M	$111M	$49M	$60M	—	$651M	—
Q1 26	$14M	$128M	$61M	$62M	—	$659M	—
Q2 26	$8M	$138M	$52M	$67M	—	$771M	—
Q3 26	$7M	$146M	$46M	$60M	—	$797M	—

Revenue by Geography

Quarter	Developed International	Emerging	Non-branded and bulk	Travel Retail	United States
Q1 26	$257M	$224M	$14M	$44M	$385M
Q2 26	$287M	$248M	$8M	$48M	$445M
Q3 26	$307M	$276M	$7M	$39M	$427M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 23	$374M	$0	$374M
Q1 24	$426M	$0	$426M
Q2 24	$373M	$0	$373M
Q3 24	$589M	$0	$589M
Q4 24	$446M	$0	$446M
Q1 25	$416M	$0	$416M
Q2 25	$416M	$0	$416M
Q3 25	$599M	$0	$599M
Q4 25	$444M	$0	$444M
Q1 26	$471M	$0	$471M
Q2 26	$319M	$0	$319M
Q3 26	$383M	$0	$383M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q4 23	480M	-0.0%
Q1 24	480M	-0.0%
Q2 24	480M	-0.1%
Q3 24	476M	-0.9%
Q4 24	476M	+0.2%
Q1 25	473M	-0.7%
Q2 25	473M	+0.0%
Q3 25	473M	-0.0%
Q4 25	473M	-0.0%
Q1 26	473M	+0.0%
Q2 26	473M	-0.1%
Q3 26	473M	+0.0%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$712K	4K
FY 15	$712K	4K
FY 16	$672K	5K
FY 17	$637K	5K
FY 18	$677K	5K
FY 19	$707K	5K
FY 20	$701K	5K
FY 21	$736K	5K
FY 22	$756K	5K
FY 23	$755K	6K
FY 24	$733K	6K
FY 25	$795K	5K