Brown–Forman income statement
In fiscal 2026, Brown–Forman reported revenue of $3.93bn, down 1.2% on the year before, operating income of $1.00bn (a 25.5% margin) and net income of $715m, or $1.53 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2010Apr 2010 | 2011Apr 2011 | 2012Apr 2012 | 2013Apr 2013 | 2014Apr 2014 | 2015Apr 2015 | 2016Apr 2016 | 2017Apr 2017 | 2018Apr 2018 | 2019Apr 2019 | 2020Apr 2020 | 2021Apr 2021 | 2022Apr 2022 | 2023Apr 2023 | 2024Apr 2024 | 2025Apr 2025 | 2026Apr 2026 | LTMJul 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 3,226 | 3,404 | 3,614 | 3,784 | 3,946 | 4,096 | 4,011 | 2,994 | 3,248 | 3,324 | 3,363 | 3,461 | 3,933 | 4,228 | 4,178 | 3,975 | 3,928 | 3,915 |
| Cost of revenue | — | — | — | — | — | — | — | 973 | 1,046 | 1,158 | 1,236 | 1,367 | 1,542 | 1,734 | 1,652 | 1,632 | 1,550 | 1,540 |
| Gross profit | 1,611 | 1,724 | 1,795 | 1,955 | 2,078 | 2,183 | 2,144 | 2,021 | 2,202 | 2,166 | 2,127 | 2,094 | 2,391 | 2,494 | 2,526 | 2,343 | 2,378 | 2,375 |
| Selling, general and administrative | 539 | 574 | 610 | 650 | 686 | 697 | 688 | 657 | 765 | 641 | 642 | 671 | 690 | 742 | 826 | 744 | 807 | 815 |
| Operating income | 710 | 855 | 788 | 898 | 971 | 1,027 | 1,533 | 1,010 | 1,048 | 1,144 | 1,091 | 1,166 | 1,204 | 1,127 | 1,414 | 1,107 | 1,001 | 993 |
| Interest expense | 31 | 29 | 31 | 36 | 26 | 27 | 46 | 59 | 68 | 88 | 82 | 81 | 82 | 90 | 127 | 122 | 103 | 103 |
| Income before tax | 682 | 829 | 760 | 865 | 947 | 1,002 | 1,489 | 933 | 977 | 1,042 | 1,009 | 1,081 | 1,114 | 1,017 | 1,298 | 1,081 | 885 | 894 |
| Income tax | 233 | 257 | 247 | 274 | 288 | 318 | 422 | 264 | 260 | 207 | 182 | 178 | 276 | 234 | 274 | 212 | 170 | 173 |
| Net income | 449 | 572 | 513 | 591 | 659 | 684 | 1,067 | 669 | 717 | 835 | 827 | 903 | 838 | 783 | 1,024 | 869 | 715 | 721 |
| Diluted EPS | $0.81 | $1.04 | $1.19 | $1.38 | $1.53 | $1.28 | $2.09 | $1.37 | $1.48 | $1.73 | $1.72 | $1.88 | $1.74 | $1.63 | $2.14 | $1.84 | $1.53 | $1.56 |
| Diluted shares (average) | 557m | 549m | 540m | 537m | 538m | 533m | 511m | 488m | 484m | 482m | 480m | 481m | 481m | 480m | 477m | 473m | 467m | 463m |
| EBITDA | 769 | 911 | 837 | 949 | 1,021 | 1,078 | 1,589 | 1,068 | 1,112 | 1,216 | 1,165 | 1,243 | 1,283 | 1,207 | 1,501 | 1,194 | 1,093 | 1,086 |
| Quarter | 2025 Q2Oct 2024 | 2025 Q3Jan 2025 | 2025 Q4Apr 2025 | 2026 Q1Jul 2025 | 2026 Q2Oct 2025 | 2026 Q3Jan 2026 | 2026 Q4Apr 2026 | 2027 Q1Jul 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,095 | 1,035 | 894 | 924 | 1,036 | 1,056 | 912 | 911 |
| Cost of revenue | 449 | 416 | 381 | 372 | 421 | 416 | 341 | 362 |
| Gross profit | 646 | 619 | 513 | 552 | 615 | 640 | 571 | 549 |
| Selling, general and administrative | 185 | 178 | 193 | 177 | 187 | 184 | 259 | 185 |
| Operating income | 341 | 280 | 205 | 260 | 305 | 340 | 96 | 252 |
| Interest expense | 32 | 31 | 27 | 25 | 26 | 26 | 26 | 25 |
| Income before tax | 313 | 332 | 183 | 220 | 279 | 315 | 71 | 229 |
| Income tax | 55 | 62 | 37 | 50 | 55 | 48 | 17 | 53 |
| Net income | 258 | 270 | 146 | 170 | 224 | 267 | 54 | 176 |
| Diluted EPS | $0.55 | $0.57 | $0.31 | $0.36 | $0.47 | $0.58 | $0.12 | $0.38 |
| EBITDA | 363 | 302 | 226 | 282 | 327 | 364 | 120 | 275 |
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