Brown-Forman Corporation Class B (BF.B)

NYSE: BF.B · USD

$27.8

-0.75 (-2.6%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-09-20

Our latest published analysis: BF.B rated Buy

Brown-Forman Corporation Class B's published Buy conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$30.2 / share

Potential value

$53.7 / share

Upside to FV

+16.3%

from $27.8

Moat

7/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$11.9B
Revenue (ttm)	3.9B
Net income (ttm)	721M
EPS (ttm)	$1.55
Shares out	458.9M
P/E (trailing)	17.9x
P/E (forward)	15.1x
Dividend	$0.92 (3.32%)
Volume	1,763,643
Beta	0.32

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 3.9B
Net income (ttm): 721M
EPS (ttm): $1.55
P/E (trailing): 17.9x
P/E (forward): 15.1x
Market cap: $11.9B

Item	P1	P2	P3	P4	P5	Trend
Period	2022-04-30	2023-04-30	2024-04-30	2025-04-30	2026-04-30	Trend
Revenue	$3.93B	$4.23B	$4.18B	$3.98B	$3.93B	-0.0%
Gross profit	$2.39B	$2.49B	$2.53B	$2.34B	$2.38B	-0.1%
Operating income	$1.20B	$1.13B	$1.41B	$1.11B	$1.00B	-4.5%
Net income	$838.0M	$783.0M	$1.02B	$869.0M	$715.0M	-3.9%
EPS (diluted)	$1.74	$1.63	$2.14	$1.84	$1.53	-3.2%
EBITDA	$1.28B	$1.19B	$1.51B	$1.29B	$1.08B	-4.2%
R&D	—	—	—	—	—	—
SG&A	$690.0M	$742.0M	$826.0M	$744.0M	$807.0M	+4.0%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
ABBV	AbbVie Inc.	505.6B	80.8x	7.9x	17.7%	+3.7%	+29.1%	Vendre
ABT	Abbott Laboratories	177.6B	38.2x	3.7x	7.2%	+2.7%	-17.2%	Réduire
ACN	Accenture plc	144.3B	18.0x	2.0x	27.9%	+8.0%	+0.4%	Conserver
ADM	Archer-Daniels-Midland Company	37.3B	21.2x	0.5x	5.0%	+1.8%	+28.5%	Réduire
CAG	Conagra Brands, Inc.	6.6B	—	0.6x	9.2%	+0.2%	-18.9%	Achat fort
CCEP	Coca-Cola Europacific Partners PLC	49.3B	22.5x	2.0x	11.7%	+12.8%	+24.3%	Acheter

Base and Bull scenarios

Base60%

Price target

$30.17

+16.3% from spot

Under the modal base case, wholesale distributor inventory levels normalize gradually while core brand equity sustains pricing discipline and high gross margins. Modest top-line growth combined with steady cash conversion supports our Fair value of $30.17, targeting $30.17 with an expected return of 16.3% over the forecast horizon.

Wholesale shipments align with underlying consumer depletions over the medium term.
Operating margin remains steady near historical baseline performance.
International markets provide consistent volume diversification against domestic fluctuations.

Bull20%

Price target

$53.74

+107.2% from spot

In the bull case, rapid global adoption of ready-to-drink premixes and accelerating super-premium tequila growth across international markets drive revenue expansion toward Potential value $53.74. Operating leverage on gross profit expands operating margins, lifting the shares to $53.74 representing a return of 107.2%.

Wholesale inventory destocking concludes faster than projected across domestic distribution networks.
International ready-to-drink premix formulations achieve higher retail penetration.
Super-premium tequila sales in Latin America accelerate above historical trend.

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($30.17). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	1.5%	2.0%	2.5%	3.0%	3.5%
4.8%	$37.8	$41.7	$47.1	$55.5	$69.9
5.8%	$31.5	$33.6	$36.3	$40.0	$45.2
6.8%	$27.4	$28.7	$30.2	$32.4	$35.0
7.8%	$24.5	$25.4	$26.5	$27.7	$29.2
8.8%	$22.4	$23.0	$23.7	$24.6	$25.6

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E15.1

P25 n/aP50 n/aP75 n/a

Trailing P/E16.7

P25 n/aP50 n/aP75 n/a

ROE18.1

P25 n/aP50 n/aP75 n/a

ROIC14.3

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All BF.B indicators

Market & fundamental data

Available fields

290

Groups with data

Currency

USD

Showing 290 of 290 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000014693
Company name	Brown-Forman Corporation
Country	United States
Country code	US
CUSIP number	115637209
Earnings date	2026-12-03
Earnings time	bmo
Employees	4,900
Employees change	-100
Employees growth	-2%
Enterprise value	$14.9B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-07-31
First seen	2026-05-09
Fiscal year end	April
Founded	1870
In index	SP500
Industry	Beverages - Wineries & Distilleries
Is primary listing	Yes
Is SPAC	No
ISIN number	US1156372096
Last 10-K release date	2026-06-12
Last earnings date	2026-09-02
Last refreshed	2026-10-28
Last stock split date	2018-03-01
Last stock split type	Forward
Market cap	$12.7B
Market cap category	Large-Cap
Next earnings date	2026-12-03
Options	Yes
Price	$27.76
Price currency	USD
Sector	Consumer Staples
SIC code	2080
Stock price date	2026-10-28
Symbol	BF.B
U.S. state	Kentucky
Website	https://www.brown-forman.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	17.91x
Average P/E ratio (10Y)	30.5x
Average P/E ratio (3Y)	20.27x
Average P/E ratio (5Y)	28.44x
Earnings yield	5.59%
EV/Earnings	20.72x
EV/EBIT	13.53x
EV/EBITDA	12.6x
EV/FCF	16.15x
EV/Sales	3.82x
FCF / EV yield	6.19%
FCF yield	7.23%
Forward EV/Sales	3.78x
Forward P/E	16.3x
Forward P/S	3.24x
Graham number	17.37399
Graham upside	-37.71%
Industry P/E	31.03x
Lynch fair value	$7.75
Lynch upside	-72.2%
P/(FCF - SBC) ratio	14.33x
P/(OCF - SBC) ratio	13.05x
P/B ratio	3.29x
P/E ratio	17.9x
P/FCF ratio	13.84x
P/OCF ratio	12.63x
P/S ratio	3.27x
PEG ratio	13.69x
Price / tangible book value	8.42x
Price/EBITDA ratio	10.79x
Sector forward P/E	21.33x
Sector P/E	28.29x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	28.2%
EBITDA margin	30.29%
Effective tax rate	19.35%
FCF margin	23.63%
Gross margin	60.66%
Operating margin	28.2%
Pretax margin	22.84%
Profit margin	18.42%
Profit per employee	$147,143
Profitable quarters	132
Profitable years	35
Revenue per employee	$798,980
ROA	8.63%
ROA (5Y)	9.78%
ROCE	16.7%
ROE	18.12%
ROE (5Y)	25.67%
ROIC	14.32%
ROIC (5Y)	16.77%
SBC / revenue	0.82%
Tax / revenue	4.42%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	-13.17%
EPS growth (Q)	5.67%
EPS growth (QoQ)	230.07%
EPS growth 10Y	-2.95%
EPS growth 3Y	-0.84%
EPS growth 5Y	-0.75%
EPS growth quarters	1
EPS growth years	0
FCF growth	58.39%
FCF growth (Q)	24.81%
FCF growth (QoQ)	-39.25%
FCF growth 3Y	44.59%
FCF growth 5Y	1.71%
Gross profit growth	1.8%
Gross profit growth (Q)	-0.54%
Gross profit growth 3Y	-1.99%
Gross profit growth 5Y	1.71%
Net income growth	-14.57%
Net income growth (Q)	3.53%
Net income growth (QoQ)	225.93%
Net income growth 3Y	-1.96%
Net income growth 5Y	-1.33%
Net income growth quarters	1
Net income growth years	0
OCF growth	36.71%
OCF growth (Q)	8.13%
OCF growth (QoQ)	-40.55%
OCF growth 10Y	7.21%
OCF growth 3Y	26.12%
OCF growth 5Y	2.15%
Operating income growth	-2.21%
Operating income growth (Q)	0%
Operating income growth 3Y	-3.01%
Operating income growth 5Y	0.95%
Revenue growth	-0.84%
Revenue growth (Q)	-1.41%
Revenue growth (QoQ)	-0.11%
Revenue growth 10Y	2.52%
Revenue growth 3Y	-2.77%
Revenue growth 5Y	1.61%
Revenue growth years	1

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-88M
Depreciation and amortization	$82M
EBIT	$1.1B
EBITDA	$1.2B
EPS	$1.55
FCF per share	$2.02
Financing cash flow	$-1.1B
Free cash flow	$925M
Free cash flow minus SBC	$893M
Gross profit	$2.4B
Income taxes	$173M
Investing cash flow	$-86M
Net borrowing	$-268M
Net cash flow	$-189M
Net income	$721M
Operating cash flow minus SBC	$981M
Operating income	$1.1B
Revenue	$3.9B
Stock-based compensation	$32M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	4.27
Book value per share	$8.65
Debt / EBITDA	1.98
Debt / equity	0.62
Debt / FCF	2.64
Goodwill	$1.5B
Interest coverage	10.72
Long-term assets	$3.9B
Long-term liabilities	$2.6B
Net cash (debt)	$-2.1B
Net cash / market cap	-16.72%
Net debt / EBITDA	1.8
Net debt / equity	0.54
Net debt / FCF	2.31
Piotroski F-Score	7
Property, plant and equipment	$1.1B
Shareholders' equity	$4B
Tangible book value	$1.5B
Tangible book value per share	$3.31
Total assets	$7.8B
Total cash	$301M
Total debt	$2.4B
Total liabilities	$3.9B
WACC	5.61%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.49
Current assets	$4B
Current liabilities	$1.2B
Current ratio	3.26
Inventory turnover	0.6
Net working capital	$2.8B
Quick ratio	0.93
Working capital	$2.7B
Working capital turnover	1.44

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	2.03%
Dividend growth	1.99%
Dividend growth (10Y)	5.44%
Dividend growth (3Y)	3.98%
Dividend growth (5Y)	5.17%
Dividend growth years	53
Dividend payment date	2026-10-01
Dividend payment years	56
Dividend payout frequency	Quarterly
Dividend per share	$0.92
Dividend yield	3.32%
Ex-dividend date	2026-09-03
FCF payout ratio	45.84%
Last dividend	$0.23
Payout ratio	59.59%
Shareholder yield	5.34%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	-23.97%
10Y return CAGR	-0.8%
10Y total return	-7.74%
150-day SMA	$27.03
15Y price change	35.89%
15Y return CAGR	4.31%
15Y total return	88.21%
1D price change	-2.63%
1M price change	5.7%
1M total return	5.7%
1W price change	-1.6%
1W total return	-1.6%
1Y price change	-2.98%
1Y return CAGR	0.39%
1Y total return	0.39%
20-day SMA	$27.63
200-day SMA	$27.02
20Y price change	79.12%
20Y return CAGR	5.4%
20Y total return	186.23%
3M price change	0.91%
3M total return	1.77%
3Y price change	-49.76%
3Y return CAGR	-18.39%
3Y total return	-45.65%
50-day SMA	$27.15
50-day SMA vs 200-day SMA	50over200
52-week high	$31.92
52-week high date	2025-12-04
52-week low	$22.61
52-week low date	2026-03-18
5Y price change	-59.93%
5Y return CAGR	-14.77%
5Y total return	-55.02%
6M price change	0.22%
6M total return	1.95%
All-time high	$83.40
All-time high date	2020-09-02
All-time low	$0.08
All-time low date	1974-09-17
Average true range (ATR)	$0.74
Average volume	2.5M
Beta (1Y)	-0.1
Beta (2Y)	0.46
Beta (5Y)	0.32
Change from 52-week high	-13.03%
Change from 52-week low	22.78%
Change from all-time high	-66.85%
Change from all-time low	32,895.23%
Change from open	-1.98%
Day's gap	-0.67%
Dollar volume	$49M
High price	$28.36
Low price	$27.65
Monthly RSI	39.27
Open price	$28.32
Position in 52-week range	15.49%
Premarket change	-1.75%
Premarket close	$28.51
Premarket price	$28.01
Premarket volume	1.8K
Previous close	$28.51
Price vs 150-day SMA	2.31%
Price vs 20-day SMA	0.06%
Price vs 200-day SMA	2.32%
Price vs 50-day SMA	1.83%
Relative volume	0.7
RSI	49.62
Sharpe ratio	0.1
Sharpe ratio (3Y)	-0.52
Sharpe ratio (5Y)	-0.5
Sortino ratio	0.3
Sortino ratio (3Y)	-0.56
Sortino ratio (5Y)	-0.51
Volume	1.8M
Weekly RSI	51.3
YTD price change	6.1%
YTD total return	8.93%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	318.6M
Float percentage	69.43%
Shares change (QoQ)	0.05%
Shares change (YoY)	-2.03%
Shares held by insiders	2.65%
Shares held by institutions	48.47%
Shares outstanding	458.9M
Short % of float	9.75%
Short % of shares	6.77%
Short ratio	11.9 days

Deeper analysis on BF.B

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this BF.B report

What is the latest published BF.B stock rating?

Brown-Forman Corporation Class B is shown with Buy in the latest published report, analyzed 2026-09-20. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full BF.B analysis?

The full latest published report, analyzed 2026-09-20, lives at /stocks/BF.B/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for BF.B?

The latest published report analyzed 2026-09-20 gives BF.B a fair value of USD 30 and a potential value of USD 54. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the BF.B page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-09-20). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

BuyBF.B · Fair value $30.2+16.3%

Read full analysis →

Category	Score	Reading
Valuation	7.5
Management	6.5
Balance Sheet	7.5
Profitability	6.5
Revenue Growth	2.5
Risk Assessment	8.0
Competitive Moat	7.0
Earnings Quality	8.0
Capital Efficiency	7.5

Brown-Forman Corporation Class B (BF.B)

Our latest published analysis: BF.B rated Buy

Price

Financial snapshot

Fair-value bridge

Latest news · BF.B

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All BF.B indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on BF.B

Frequently asked questions

Historique des notations