BF-A Consumer Defensive

Brown-Forman Corporation

$29.80-3.75%

Price as of close on Nov 3, 2026 · Financials updated Oct 6, 2026

Basics

Sector: Consumer Defensive
Industry: Beverages - Wineries & Distilleries
Country: United States
Market cap: 13.7B USD
Enterprise value: 15.7B USD
Full-time employees: 4,900

Overall health

Strength: lower risk than most peers: more short-term liquiditylower risk: more liquidity
Drawback: growing more slowly than most peersgrowing more slowly than peers
About average: valuation

Ranks #261 of 761 consumer defensive companies (top 35%)

See how it ranks against its peers

Worth knowing

Operating margin at a 6-year low. 25% in FY Apr 2026, the weakest of the last 6 years.
Brown-Forman's operating margin fell to 25% in FY Apr 2026, its lowest in the 6 years of filings we have.
Annual revenue fell three years running. Fiscal-year revenue down each year from FY Apr 2023 to FY Apr 2026.
Brown-Forman's fiscal-year revenue declined in each of the three years to FY Apr 2026.
Profit is backed by cash. Free cash flow is 128% of reported profit.
Brown-Forman's free cash flow is 128% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.
Wide margins. Operating margin 25% (12 months to Jul 2026) vs a peer median of 7.6%.Operating margin 25% vs peers 7.6%.
Brown-Forman keeps 25% of revenue as operating profit, more than 94% of peers (median 7.6%).

StockQuotient Score

59/ 100

Oct 5 60 → Nov 4 59 (-1)

Valuation

Is the price right?

45/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Held back by:

▼ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield5.3%

SEC filings · 12 months to Jul 2026Reported value30% base weight · Z-score 0.24Sector median: 0.0453 · MAD: 0.0301

EBITDA yield6.9%

SEC filings · 12 months to Jul 2026Reported value50% base weight · Z-score -0.41Sector median: 0.0865 · MAD: 0.0435

Free cash flow yield6.8%

SEC filings · 12 months to Jul 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 0.12Sector median: 0.0622 · MAD: 0.0441

Other data (not scored)

Book yield29.0%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5381 · MAD: 0.2865

Growth

Is it growing?

25/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ 3-yr revenue
▼ Revenue growth
▼ EPS growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth-12.1%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score -0.54Sector median: 0.0154 · MAD: 0.2529

3-year revenue growth-2.8%

SEC filings · 3 years to Jul 2026Reported value33% base weight · Z-score -1.37Sector median: 0.0366 · MAD: 0.0470

Revenue growth-0.8%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score -0.62Sector median: 0.0278 · MAD: 0.0585

Profitability

Does it earn well?

87/100

Strong

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ Operating margin
▲ ROA
▲ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin25.4%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score 3.50Sector median: 0.0759 · MAD: 0.0508

Return on assets9.2%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score 2.00Sector median: 0.0396 · MAD: 0.0262

Return on invested capital12.8%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score 0.77Sector median: 0.0766 · MAD: 0.0673

Other data (not scored)

Gross margin60.7%

SEC filings · 12 months to Jul 2026Reported valueInformational · 0% composite weightSector median: 0.3182 · MAD: 0.1263

Return on equity18.2%

SEC filings · 12 months to Jul 2026Reported valueInformational · 0% composite weightSector median: 0.0831 · MAD: 0.0675

Risk

Debt, liquidity, price swings

Lower

Lower relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ Current ratio
▲ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.32

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score 0.49Sector median: 0.4070 · MAD: 0.1690

Current ratio3.26×

SEC filings · latest balance sheetReported value33% base weight · Z-score 2.69Sector median: 1.5250 · MAD: 0.6460

Debt / equity0.62×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.54Sector median: 0.4234 · MAD: 0.3581

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Brown-Forman

Is Brown-Forman getting weaker?: Its latest SEC filing (Sep 2, 2026) showed no major changes. Its overall score is unchanged at 59/100 since Oct 28, 2026.
How is Brown-Forman valued vs its peers?: Priced about in line with its peers. Valuation scores 45/100 against 823 consumer defensive peers. EBITDA yield 6.9% vs a peer median of 8.7% (weaker than 63% of peers).EBITDA yield 6.9% vs peers 8.7% (weaker than 63% of peers).
Is Brown-Forman growing?: More slowly than most of its peers. Growth scores 25/100 against 823 consumer defensive peers. 3-year revenue growth -2.8% vs a peer median of 3.7% (weaker than 82% of peers).3-year revenue growth -2.8% vs peers 3.7% (weaker than 82% of peers).
How profitable is Brown-Forman?: More profitable than most of its peers. Profitability scores 87/100 against 823 consumer defensive peers. Operating margin 25.4% vs a peer median of 7.6% (stronger than 94% of peers).Operating margin 25.4% vs peers 7.6% (stronger than 94% of peers).
How risky is Brown-Forman?: Lower risk relative to 823 consumer defensive peers, judged on debt, liquidity and share-price swings. Current ratio 3.26× vs a peer median of 1.52× (stronger than 83% of peers).Current ratio 3.26× vs peers 1.52× (stronger than 83% of peers). Debt / equity 0.62× vs a peer median of 0.42× (weaker than 61% of peers).Debt / equity 0.62× vs peers 0.42× (weaker than 61% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jul 31, 2026 · filed Sep 2, 2026 · compared with the quarter ended Apr 30, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	3.9B USD	3.9B USD	−0.3%
Net income (12 months)	715.0M USD	721.0M USD	+0.8%
Operating margin	25.5%	25.4%	−0.1 pts
Free cash flow (12 months)	893.0M USD	925.0M USD	+3.6%
Debt	2.5B USD	2.4B USD	−2.4%
Cash	308.0M USD	301.0M USD	−2.3%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Consumer Defensive · 91 companies

Valuations in Consumer Defensive are within their usual range since 2016.

30% of months since 2016 were valued lower than now.
18% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values −4% and earnings +7% (medians): prices and earnings moved broadly together.
Median price-to-sales is −58% vs the whole market, against a usual −39%.

2016Shaded: most expensive fifth of its range2026

Shown for Consumer Defensive: too few Beverages - Wineries & Distilleries companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY Apr 2022	FY Apr 2023	FY Apr 2024	FY Apr 2025	FY Apr 2026	Change
Gross margin	60.8%	59.0%	60.5%	58.9%	60.5%	▲ 1.6 pts
Operating margin	30.6%	26.7%	33.8%	27.8%	25.5%	▼ 2.4 pts
Net margin	21.3%	18.5%	24.5%	21.9%	18.2%	▼ 3.7 pts
Return on assets (ROA)	13.1%	10.1%	12.5%	10.7%	9.1%	▼ 1.7 pts
Return on equity (ROE)	30.6%	24.0%	29.1%	21.8%	17.8%	▼ 4.0 pts
Free cash flow margin	20.3%	10.8%	10.0%	10.8%	22.7%	▲ 12 pts
Current ratio	3.65×	3.51×	2.59×	3.88×	3.24×	▼ 17%
Quick ratio	1.89×	1.40×	0.95×	1.56×	1.18×	▼ 25%
Debt to equity	0.83×	0.89×	0.88×	0.68×	0.62×	▼ 9.1%
Interest coverage	14.68×	12.52×	11.13×	9.07×	9.72×	▲ 7.1%

BF-A price history

Price history is added with the daily price update and will appear after the next one.

Similar companies

Sector leaderboards

Chin Teck Plantations Berhad1929.KL94/ 100

First Resources LimitedEB5.SI91/ 100

Sipef NVSIP.BR91/ 100

Bringing the fundamentals into focus…

Worth knowing

Operating margin at a 6-year low. 25% in FY Apr 2026, the weakest of the last 6 years.

Brown-Forman's operating margin fell to 25% in FY Apr 2026, its lowest in the 6 years of filings we have.

Annual revenue fell three years running. Fiscal-year revenue down each year from FY Apr 2023 to FY Apr 2026.

Brown-Forman's fiscal-year revenue declined in each of the three years to FY Apr 2026.

Profit is backed by cash. Free cash flow is 128% of reported profit.

Brown-Forman's free cash flow is 128% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.

Wide margins. Operating margin 25% (12 months to Jul 2026) vs a peer median of 7.6%.Operating margin 25% vs peers 7.6%.

Brown-Forman keeps 25% of revenue as operating profit, more than 94% of peers (median 7.6%).

Questions investors ask about Brown-Forman

Is Brown-Forman getting weaker?

Its latest SEC filing (Sep 2, 2026) showed no major changes. Its overall score is unchanged at 59/100 since Oct 28, 2026.

How is Brown-Forman valued vs its peers?

Priced about in line with its peers. Valuation scores 45/100 against 823 consumer defensive peers. EBITDA yield 6.9% vs a peer median of 8.7% (weaker than 63% of peers).EBITDA yield 6.9% vs peers 8.7% (weaker than 63% of peers).

Is Brown-Forman growing?

More slowly than most of its peers. Growth scores 25/100 against 823 consumer defensive peers. 3-year revenue growth -2.8% vs a peer median of 3.7% (weaker than 82% of peers).3-year revenue growth -2.8% vs peers 3.7% (weaker than 82% of peers).

How profitable is Brown-Forman?

More profitable than most of its peers. Profitability scores 87/100 against 823 consumer defensive peers. Operating margin 25.4% vs a peer median of 7.6% (stronger than 94% of peers).Operating margin 25.4% vs peers 7.6% (stronger than 94% of peers).

How risky is Brown-Forman?

Lower risk relative to 823 consumer defensive peers, judged on debt, liquidity and share-price swings. Current ratio 3.26× vs a peer median of 1.52× (stronger than 83% of peers).Current ratio 3.26× vs peers 1.52× (stronger than 83% of peers). Debt / equity 0.62× vs a peer median of 0.42× (weaker than 61% of peers).Debt / equity 0.62× vs peers 0.42× (weaker than 61% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

3.9B USD

3.9B USD

−0.3%

Net income (12 months)

715.0M USD

721.0M USD

+0.8%

Operating margin

25.5%

25.4%

−0.1 pts

Free cash flow (12 months)

893.0M USD

925.0M USD

+3.6%

Debt

2.5B USD

2.4B USD

−2.4%

Cash

308.0M USD

301.0M USD

−2.3%

Key ratios

FY Apr 2022

FY Apr 2023

FY Apr 2024

FY Apr 2025

FY Apr 2026

Change

Gross margin

60.8%

59.0%

60.5%

58.9%

60.5%

▲ 1.6 pts

Operating margin

30.6%

26.7%

33.8%

27.8%

25.5%

▼ 2.4 pts

Net margin

21.3%

18.5%

24.5%

21.9%

18.2%

▼ 3.7 pts

Return on assets (ROA)

13.1%

10.1%

12.5%

10.7%

9.1%

▼ 1.7 pts

Return on equity (ROE)

30.6%

24.0%

29.1%

21.8%

17.8%

▼ 4.0 pts

Free cash flow margin

20.3%

10.8%

10.0%

10.8%

22.7%

▲ 12 pts

Current ratio

3.65×

3.51×

2.59×

3.88×

3.24×

▼ 17%

Quick ratio

1.89×

1.40×

0.95×

1.56×

1.18×

▼ 25%

Debt to equity

0.83×

0.89×

0.88×

0.68×

0.62×

▼ 9.1%

Interest coverage

14.68×

12.52×

11.13×

9.07×

9.72×

▲ 7.1%