BROWN FORMAN CORP

10-K & 10-Q Filings

Brown-Forman Corporation is a Delaware corporation founded in 1870 and incorporated in Kentucky in 1901. The company primarily manufactures, distills, bottles, imports, exports, markets, and sells a wide range of beverage alcohol products under recognized brands. Brown-Forman's vision is to be the best brand-builder in the industry. The company's portfolio includes over 40 spirit, ready-to-drink (RTD), and wine brands, with Jack Daniel's Tennessee Whiskey being the most iconic and valuable brand. Brown-Forman sells its products in over 170 countries, with the United States being its largest market. The company's distribution network varies depending on the laws and regulatory frameworks of different markets. Brown-Forman's principal raw materials include agave, barley, corn, grapes, malted barley, molasses, rye, sugar, water, and wood. The company's intellectual property includes trademarks, copyrights, proprietary packaging and trade dress, proprietary manufacturing technologies, know-how, and patents. Brown-Forman is committed to marketing its brands responsibly and promoting responsible drinking. The company's website is www.brown-forman.com, and its ticker symbol is BF-B on the New York Stock Exchange.

12 mos ending Apr 30, 201212 mos ending Apr 30, 201312 mos ending Apr 30, 201412 mos ending Apr 30, 201512 mos ending Apr 30, 201612 mos ending Apr 30, 201712 mos ending Apr 30, 201812 mos ending Apr 30, 201912 mos ending Apr 30, 202012 mos ending Apr 30, 202112 mos ending Apr 30, 202212 mos ending Apr 30, 20239 mos ending Jan 31, 20239 mos ending Jan 31, 2024CAGR %YoY %Revenue (+)
$3614.00
3784.00
3946.00
4096.00
4011.00
3857.00
4201.00
3324.00
3363.00
3461.00
3933.00
4228.00
3182.00
3214.00
1.44%1.01%Cost of Revenue (-)
$1819.00
1829.00
1868.00
1913.00
1867.00
1836.00
1999.00
1158.00
1236.00
1367.00
1542.00
1734.00
1323.00
1257.00
-0.43%-4.99%Gross Profit (+)
$1795.00
1955.00
2078.00
2183.00
2144.00
2021.00
2202.00
2166.00
2127.00
2094.00
2391.00
2494.00
1859.00
1957.00
3.03%5.27%Selling, General & Administrative (-)
$1005.00
1058.00
1122.00
1134.00
1105.00
1050.00
1179.00
1037.00
1025.00
1070.00
1128.00
1248.00
913.00
1009.00
1.99%10.51%Marketing Expenses (-)
$395.00
408.00
436.00
437.00
417.00
383.00
414.00
396.00
383.00
399.00
438.00
506.00
372.00
414.00
2.28%11.29%Depreciation & Amortization (-)
$3.00
Operating Expenses (-)
$1007.00
1057.00
1107.00
1156.00
611.00
1032.00
1163.00
1022.00
1036.00
928.00
1187.00
1367.00
1030.00
918.00
2.82%-10.87%Costs & Expenses (Total) (-)
$2826.00
2886.00
2975.00
3069.00
2478.00
2868.00
3162.00
2180.00
2272.00
2295.00
2729.00
3101.00
2353.00
2175.00
0.85%-7.56%Operating Income/Loss (+)
$788.00
898.00
971.00
1027.00
1533.00
989.00
1039.00
1144.00
1091.00
1166.00
1204.00
1127.00
829.00
1039.00
3.31%25.33%Non-operating Income/Expense (+)
$3.00
3.00
2.00
2.00
487.00
3.00
6.00
-14.00
123.00
-8.00
-20.00
-20.00
5.00
125.00%Interest Expense (-)
$31.00
36.00
26.00
27.00
46.00
59.00
68.00
88.00
82.00
81.00
82.00
90.00
61.00
93.00
10.17%52.46%Earnings before Tax (+)
$760.00
865.00
947.00
1002.00
1489.00
933.00
977.00
1042.00
1009.00
1081.00
1114.00
1017.00
748.00
951.00
2.68%27.14%Tax Expense (-)
$247.00
274.00
288.00
318.00
422.00
264.00
260.00
207.00
182.00
178.00
276.00
234.00
172.00
193.00
-0.49%12.21%Income/Loss (Continuing Operations) (+)
$513.00
591.00
659.00
684.00
1067.00
669.00
717.00
835.00
827.00
903.00
838.00
783.00
576.00
758.00
3.92%31.60%Net Income/Loss (+)
$513.00
591.00
659.00
684.00
1067.00
669.00
717.00
835.00
827.00
903.00
838.00
783.00
576.00
758.00
3.92%31.60%Net Income/Loss (Common) (+)
$513.00
591.00
659.00
684.00
1067.00
669.00
717.00
835.00
827.00
903.00
838.00
783.00
576.00
758.00
3.92%31.60%EPS (Basic)
$3.59
2.77
3.08
3.23
5.26
1.72
1.49
1.74
1.73
1.89
1.75
1.63
1.20
1.59
-6.93%32.50%EPS (Diluted)
$3.56
2.75
3.06
3.21
5.22
1.71
1.48
1.73
1.72
1.88
1.74
1.63
1.20
1.58
-6.86%31.67%Weighted Avg Shares (Basic)
85.86
129.30
129.04
122.48
112.42
215.18
312.06
308.29
309.20
309.65
309.88
310.11
310.00
303.42
12.38%-2.12%Cash
$338.00
204.00
437.00
370.00
263.00
182.00
239.00
307.00
675.00
1150.00
868.00
374.00
428.00
589.00
0.92%37.62%Receivables
$475.00
548.00
569.00
583.00
559.00
557.00
639.00
609.00
570.00
753.00
813.00
855.00
944.00
878.00
5.49%-6.99%Inventory
$712.00
827.00
882.00
953.00
1054.00
1270.00
1379.00
1520.00
1685.00
1751.00
1818.00
2283.00
2160.00
2529.00
11.17%17.08%Prepaid Expenses (Current)
$
213.00
Other Assets (Current)
$224.00
29.00
289.00
348.00
357.00
342.00
298.00
283.00
335.00
263.00
277.00
289.00
311.00
419.00
2.34%34.73%Assets (Current)
$1749.00
1821.00
2177.00
2254.00
2233.00
2351.00
2555.00
2719.00
3265.00
3917.00
3776.00
3801.00
3843.00
4415.00
7.31%14.88%Property, Plant & Equipment (Net)
$399.00
450.00
526.00
586.00
629.00
713.00
780.00
816.00
848.00
832.00
875.00
1031.00
955.00
1014.00
9.01%6.18%Goodwill & Intangibles
$1285.00
1285.00
1297.00
611.00
595.00
1394.00
1433.00
1398.00
1391.00
1455.00
1347.00
2621.00
2600.00
2468.00
6.69%-5.08%Other Assets
$44.00
70.00
103.00
742.00
726.00
167.00
208.00
206.00
262.00
318.00
375.00
324.00
356.00
340.00
19.90%-4.49%Assets (Non-current)
$1728.00
1805.00
1926.00
1939.00
1950.00
2274.00
2421.00
2420.00
2501.00
2605.00
2597.00
3976.00
3911.00
3822.00
7.87%-2.28%Assets (Total)
$3477.00
3626.00
4103.00
4193.00
4183.00
4625.00
4976.00
5139.00
5766.00
6522.00
6373.00
7777.00
7754.00
8237.00
7.59%6.23%Accounts Payable
$396.00
461.00
545.00
509.00
520.00
510.00
606.00
553.00
547.00
713.00
784.00
849.00
929.00
869.00
7.18%-6.46%Debt (Current)
$7.00
5.00
8.00
440.00
271.00
460.00
215.00
150.00
333.00
205.00
250.00
235.00
1004.00
728.00
37.63%-27.49%Other Liabilities (Current)
$1.00
7.00
8.00
9.00
15.00
Liabilities (Current)
$404.00
473.00
561.00
958.00
791.00
970.00
821.00
703.00
880.00
918.00
1034.00
1084.00
1933.00
1612.00
9.39%-16.61%Debt (Non-current)
$503.00
997.00
997.00
748.00
1230.00
1689.00
2341.00
2290.00
2269.00
2354.00
2019.00
2678.00
2024.00
2678.00
16.42%32.31%Other Liabilities
$501.00
528.00
513.00
582.00
600.00
596.00
498.00
499.00
642.00
594.00
583.00
747.00
759.00
702.00
3.70%-7.51%Liabilities (Non-current)
$1004.00
1525.00
1510.00
1330.00
1830.00
2285.00
2839.00
2789.00
2911.00
2948.00
2602.00
3425.00
2783.00
3380.00
11.80%21.45%Liabilities (Total)
$1408.00
1998.00
2071.00
2288.00
2621.00
3255.00
3660.00
3492.00
3791.00
3866.00
3636.00
4509.00
4716.00
4992.00
11.16%5.85%Treasury Stock
$805.00
766.00
789.00
1228.00
2301.00
2843.00
112.00
300.00
258.00
237.00
225.00
213.00
219.00
613.00
-11.38%179.91%Retained Earnings
$3031.00
2500.00
2894.00
3300.00
4065.00
4470.00
1730.00
2238.00
2708.00
3243.00
3242.00
3643.00
3437.00
3995.00
1.69%16.24%AOCI
$-230.00
-211.00
-188.00
-300.00
-350.00
-390.00
-378.00
-363.00
-547.00
-422.00
-352.00
-235.00
-258.00
-224.00
13.18%Shareholder's Equity
$2069.00
1628.00
2032.00
1905.00
1562.00
1370.00
1316.00
1647.00
1975.00
2656.00
2737.00
3268.00
3038.00
3245.00
4.24%6.81%Liabilities & Equity
$3477.00
3626.00
4103.00
4193.00
4183.00
4625.00
4976.00
5139.00
5766.00
6522.00
6373.00
7777.00
7754.00
8237.00
7.59%6.23%Net Income/Loss
$513.00
591.00
659.00
684.00
1067.00
669.00
717.00
835.00
827.00
903.00
838.00
783.00
576.00
758.00
3.92%31.60%Depreciation & Amortization
$49.00
51.00
50.00
51.00
56.00
58.00
64.00
72.00
74.00
77.00
79.00
80.00
59.00
66.00
4.56%11.86%Increase/Decrease in Working Capital
$109.00
144.00
69.00
157.00
141.00
94.00
103.00
163.00
255.00
-28.00
77.00
352.00
345.00
392.00
11.25%13.62%Share-based Compensation
$9.00
11.00
13.00
15.00
15.00
14.00
19.00
14.00
11.00
12.00
15.00
18.00
13.00
18.00
6.50%38.46%Adjustments to Reconcile Net Income
$3.00
-54.00
-10.00
-76.00
-543.00
-30.00
-85.00
-35.00
-103.00
-86.00
98.00
-143.00
-166.00
-396.00
-138.55%Net Cash (Operating)
$516.00
537.00
649.00
608.00
524.00
639.00
632.00
800.00
724.00
817.00
936.00
640.00
410.00
362.00
1.98%-11.71%Capital Expenditure
$68.00
97.00
127.00
125.00
-433.00
422.00
128.00
121.00
141.00
-98.00
138.00
1378.00
1300.00
-59.00
31.46%-104.54%Net Cash (Investing)
$-68.00
-97.00
-127.00
-125.00
433.00
-422.00
-128.00
-119.00
-141.00
98.00
-127.00
-1355.00
-1300.00
63.00
104.85%Increase/Decrease in Debt
$-248.00
493.00
3.00
183.00
320.00
595.00
342.00
-71.00
178.00
-126.00
-196.00
632.00
752.00
492.00
-34.57%Increase/Decrease in Equity
$-220.00
-7.00
-49.00
-462.00
-1112.00
-566.00
-7.00
-207.00
-1.00
-400.00
Interest Expenses
$33.00
32.00
28.00
27.00
41.00
48.00
65.00
90.00
83.00
79.00
80.00
85.00
8.98%Dividends Paid
$192.00
1063.00
233.00
256.00
266.00
274.00
773.00
310.00
325.00
338.00
831.00
378.00
279.00
300.00
6.35%7.53%Net Cash (Financing)
$-662.00
-576.00
-288.00
-531.00
-1060.00
-285.00
-466.00
-599.00
-191.00
-485.00
-1038.00
239.00
468.00
-212.00
-145.30%Cash Taxes Paid
$203.00
252.00
281.00
375.00
430.00
266.00
200.00
201.00
143.00
204.00
226.00
278.00
2.90%Effect of Exchange Rate
$-15.00
2.00
-1.00
-19.00
-4.00
-13.00
19.00
-14.00
-24.00
45.00
-47.00
-14.00
-15.00
2.00
113.33%Increase/Decrease in Cash
$-229.00
-134.00
233.00
-67.00
-107.00
-81.00
57.00
68.00
368.00
475.00
-276.00
-490.00
-437.00
215.00
149.20%Cash (Beginning)
$567.00
338.00
204.00
437.00
370.00
263.00
182.00
239.00
307.00
675.00
1150.00
874.00
874.00
384.00
4.01%-56.06%Cash (Ending)
$338.00
204.00
437.00
370.00
263.00
182.00
239.00
307.00
675.00
1150.00
874.00
384.00
437.00
599.00
1.17%37.07%NOPAT
$577.52
636.39
682.88
642.64
1090.29
707.03
826.31
923.32
936.38
945.96
959.74
818.93
638.37
828.14
3.23%29.73%Gross Margin %
49.67%
51.66%
52.66%
53.30%
53.45%
52.40%
52.42%
65.16%
63.25%
60.50%
60.79%
58.99%
58.42%
60.89%
Operating Margin %
21.80%
23.73%
24.61%
25.07%
38.22%
25.64%
24.73%
34.42%
32.44%
33.69%
30.61%
26.66%
26.05%
32.33%
NOPAT Margin %
15.98%
16.82%
17.31%
15.69%
27.18%
18.33%
19.67%
27.78%
27.84%
27.33%
24.40%
19.37%
20.06%
25.77%
Net Margin %
14.19%
15.62%
16.70%
16.70%
26.60%
17.35%
17.07%
25.12%
24.59%
26.09%
21.31%
18.52%
18.10%
23.58%
Tax Rate %
26.71%
29.13%
29.67%
37.43%
28.88%
28.51%
20.47%
19.29%
14.17%
18.87%
20.29%
27.34%
22.99%
20.29%
ROA
16.61%
17.55%
16.64%
15.33%
26.06%
15.29%
16.61%
17.97%
16.24%
14.50%
15.06%
10.53%
8.23%
10.05%
ROE
27.91%
39.09%
33.61%
33.73%
69.80%
51.61%
62.79%
56.06%
47.41%
35.62%
35.07%
25.06%
21.01%
25.52%
ROIC
20.53%
20.78%
21.89%
24.82%
42.26%
19.61%
21.38%
22.54%
21.86%
21.38%
21.51%
12.97%
10.55%
13.07%
Asset Turnover
1.04
1.04
0.96
0.98
0.96
0.83
0.84
0.65
0.58
0.53
0.62
0.54
0.41
0.39
Inventory Turnover
2.55
2.21
2.12
2.01
1.77
1.45
1.45
0.76
0.73
0.78
0.85
0.76
0.61
0.50
Equity Multiplier
1.68
2.23
2.02
2.20
2.68
3.38
3.78
3.12
2.92
2.46
2.33
2.38
2.55
2.54
Current Ratio
4.33
3.85
3.88
2.35
2.82
2.42
3.11
3.87
3.71
4.27
3.65
3.51
1.99
2.74
Quick Ratio
2.01
1.59
1.79
0.99
1.04
0.76
1.07
1.30
1.41
2.07
1.63
1.13
0.71
0.91
Debt/Equity Ratio
0.25
0.62
0.49
0.62
0.96
1.57
1.94
1.48
1.32
0.96
0.83
0.89
1.00
1.05
Interest Coverage Ratio
23.88
28.06
34.68
38.04
37.39
20.60
15.98
12.71
13.14
14.76
15.05
13.26
Working Capital/Sales
0.31
0.35
0.33
0.34
0.34
0.39
0.39
0.57
0.61
0.62
0.57
0.63
0.78
0.89
Dividend Payout Ratio %
33.25%
167.04%
34.12%
39.84%
24.40%
38.75%
93.55%
33.57%
34.71%
35.73%
86.59%
46.16%
43.70%
36.23%
Total Payout
$693.00
609.00
307.00
562.00
1099.00
293.00
503.00
678.00
231.00
543.00
1107.00
-169.00
-473.00
208.00
143.97%Payout Ratio %
120.00%
95.70%
44.96%
87.45%
100.80%
41.44%
60.87%
73.43%
24.67%
57.40%
115.34%
-20.64%
-74.09%
25.12%