Brown-Forman Income Statement

Financials in millions USD. Fiscal year is May - April.

Millions USD. Fiscal year is May - Apr.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct '25 Oct 31, 2025	Apr '25 Apr 30, 2025	Apr '24 Apr 30, 2024	Apr '23 Apr 30, 2023	Apr '22 Apr 30, 2022	Apr '21 Apr 30, 2021
Revenue	3,889	3,975	4,178	4,228	3,933	3,461
Revenue Growth (YoY)	-4.66%	-4.86%	-1.18%	7.50%	13.64%	2.91%
Cost of Revenue	1,590	1,632	1,652	1,734	1,542	1,367
Gross Profit	2,299	2,343	2,526	2,494	2,391	2,094
Selling, General & Admin	1,238	1,232	1,358	1,277	1,141	1,076
Other Operating Expenses	-26	-48	23	39	14	2
Operating Expenses	1,212	1,184	1,381	1,316	1,155	1,078
Operating Income	1,087	1,159	1,145	1,178	1,236	1,016
Interest Expense	-109	-122	-127	-90	-82	-81
Interest & Investment Income	17	17	14	9	5	2
Earnings From Equity Investments	81	83	-	-	-	-
Currency Exchange Gain (Loss)	5	-4	8	16	7	17
EBT Excluding Unusual Items	1,081	1,133	1,040	1,113	1,166	954
Merger & Restructuring Charges	-74	-60	-	-	-	-
Gain (Loss) on Sale of Assets	12	12	274	-	-	127
Asset Writedown	-47	-47	-7	-96	-52	-
Other Unusual Items	42	43	-9	-	-	-
Pretax Income	1,014	1,081	1,298	1,017	1,114	1,081
Income Tax Expense	204	212	274	234	276	178
Net Income	810	869	1,024	783	838	903
Net Income to Common	810	869	1,024	783	838	903
Net Income Growth	-19.32%	-15.14%	30.78%	-6.56%	-7.20%	9.19%
Shares Outstanding (Basic)	472	473	476	479	479	479
Shares Outstanding (Diluted)	473	473	477	480	481	481
Shares Change (YoY)	-0.17%	-0.90%	-0.68%	-0.02%	-0.02%	0.06%
EPS (Basic)	1.71	1.84	2.15	1.63	1.75	1.89
EPS (Diluted)	1.71	1.84	2.14	1.63	1.74	1.88
EPS Growth	-19.39%	-14.09%	31.29%	-6.32%	-7.45%	9.30%
Free Cash Flow	610	431	419	457	798	755
Free Cash Flow Per Share	1.29	0.91	0.88	0.95	1.66	1.57
Dividend Per Share	0.906	0.889	0.847	0.788	0.736	0.708
Dividend Growth	3.99%	4.96%	7.44%	7.07%	4.01%	3.97%
Gross Margin	59.11%	58.94%	60.46%	58.99%	60.79%	60.50%
Operating Margin	27.95%	29.16%	27.41%	27.86%	31.43%	29.36%
Profit Margin	20.83%	21.86%	24.51%	18.52%	21.31%	26.09%
Free Cash Flow Margin	15.68%	10.84%	10.03%	10.81%	20.29%	21.82%
EBITDA	1,174	1,246	1,232	1,258	1,315	1,093
EBITDA Margin	30.19%	31.35%	29.49%	29.75%	33.43%	31.58%
D&A For EBITDA	87	87	87	80	79	77
EBIT	1,087	1,159	1,145	1,178	1,236	1,016
EBIT Margin	27.95%	29.16%	27.41%	27.86%	31.43%	29.36%
Effective Tax Rate	20.12%	19.61%	21.11%	23.01%	24.78%	16.47%
Revenue as Reported	3,889	3,975	4,178	4,228	3,933	3,461
Advertising Expenses	-	484	529	506	438	399

Updated Dec 4, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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