Brown-Forman Corp.
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.93B | $3.98B | $4.18B | $4.23B | $3.93B | $3.46B | $3.36B | $3.32B |
| Cost of Revenue | $1.55B | $1.63B | $1.65B | $1.73B | $1.54B | $1.37B | $1.24B | $1.16B |
| Gross Profit | $2.38B | $2.34B | $2.53B | $2.49B | $2.39B | $2.09B | $2.13B | $2.17B |
| Gross Margin | 60.5% | 58.9% | 60.5% | 59.0% | 60.8% | 60.5% | 63.2% | 65.2% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $807.0M | $744.0M | $826.0M | $742.0M | $690.0M | $671.0M | $642.0M | $641.0M |
| Operating Income | $1.00B | $1.11B | $1.41B | $1.13B | $1.20B | $1.17B | $1.09B | $1.14B |
| Operating Margin | 25.5% | 27.8% | 33.8% | 26.7% | 30.6% | 33.7% | 32.4% | 34.4% |
| Interest Expense | $103.0M | $122.0M | $127.0M | $90.0M | $82.0M | $81.0M | $82.0M | $88.0M |
| Pretax Income | $885.0M | $1.08B | $1.30B | $1.02B | $1.11B | $1.08B | $1.01B | $1.04B |
| Income Tax Expense | $170.0M | $212.0M | $274.0M | $234.0M | $276.0M | $178.0M | $182.0M | $207.0M |
| Net Income | $715.0M | $869.0M | $1.02B | $783.0M | $838.0M | $903.0M | $827.0M | $835.0M |
| Net Margin | 18.2% | 21.9% | 24.5% | 18.5% | 21.3% | 26.1% | 24.6% | 25.1% |
| EPS (Basic) | $1.53 | $1.84 | $2.15 | $1.63 | $1.75 | $1.89 | $1.73 | $1.74 |
| EPS (Diluted) | $1.53 | $1.84 | $2.14 | $1.63 | $1.74 | $1.88 | $1.72 | $1.73 |
| Shares Outstanding (Basic) | 466.3M | 472.7M | 476.4M | 479.2M | 478.9M | 478.5M | 477.8M | 479.0M |
| Shares Outstanding (Diluted) | 466.7M | 473.0M | 477.2M | 480.5M | 480.6M | 480.7M | 480.4M | 482.1M |
| Dividends Per Share | $0.92 | $0.89 | $0.85 | $0.79 | $1.74 | $0.71 | $0.68 | $0.65 |