Financials Brown-Forman Corporation

Equities

BF.B

US1156372096

Distillers & Wineries

Market Closed - Nyse 16:00:01 2024-07-19 EDT 5-day change 1st Jan Change
43.48 USD -0.59% Intraday chart for Brown-Forman Corporation -1.56% -23.85%

Valuation

Fiscal Period: April 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 28,814 35,681 31,453 31,327 22,817 20,698 - -
Enterprise Value (EV) 1 30,741 37,090 32,854 33,866 25,471 23,074 23,028 22,993
P/E ratio 36.2 x 40.6 x 38.8 x 39.9 x 22.4 x 23.5 x 21.6 x 19.4 x
Yield 1.09% 0.93% 2.57% 1.21% 1.77% 2.06% 2.2% 2.35%
Capitalization / Revenue 8.57 x 10.3 x 8 x 7.41 x 5.46 x 4.91 x 4.66 x 4.43 x
EV / Revenue 9.14 x 10.7 x 8.35 x 8.01 x 6.1 x 5.48 x 5.18 x 4.92 x
EV / EBITDA 26.4 x 29.6 x 25.6 x 28.1 x 17.1 x 17.7 x 16.1 x 15.2 x
EV / FCF 50.3 x 49.1 x 41.2 x 74.1 x 60.8 x 29.1 x 29 x -
FCF Yield 1.99% 2.04% 2.43% 1.35% 1.65% 3.43% 3.44% -
Price to Book 15.1 x 14.1 x 11.8 x 9.57 x 6.49 x 5.32 x 4.9 x 4.57 x
Nbr of stocks (in thousands) 478,140 478,695 478,971 479,241 472,524 472,660 - -
Reference price 2 62.20 76.28 67.44 65.09 47.85 43.48 43.48 43.48
Announcement Date 6/9/20 6/9/21 6/8/22 6/7/23 6/5/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: Abril 2020 2021 2022 2023 2024 2025 2026 2027
Net sales 1 3,363 3,461 3,933 4,228 4,178 4,213 4,442 4,671
EBITDA 1 1,165 1,255 1,283 1,207 1,493 1,307 1,428 1,517
EBIT 1 1,091 1,166 1,204 1,127 1,414 1,216 1,314 1,411
Operating Margin 32.44% 33.69% 30.61% 26.66% 33.84% 28.88% 29.58% 30.22%
Earnings before Tax (EBT) 1 1,009 1,081 1,114 1,017 1,298 1,111 1,179 1,295
Net income 1 827 903 838 783 1,024 872.5 942.5 1,027
Net margin 24.59% 26.09% 21.31% 18.52% 24.51% 20.71% 21.22% 21.99%
EPS 2 1.720 1.880 1.740 1.630 2.140 1.852 2.010 2.247
Free Cash Flow 1 611 755 798 457 419 792 793 -
FCF margin 18.17% 21.81% 20.29% 10.81% 10.03% 18.8% 17.85% -
FCF Conversion (EBITDA) 52.45% 60.16% 62.2% 37.86% 28.06% 60.62% 55.54% -
FCF Conversion (Net income) 73.88% 83.61% 95.23% 58.37% 40.92% 90.77% 84.14% -
Dividend per Share 2 0.6806 0.7076 1.736 0.7880 0.8466 0.8975 0.9566 1.023
Announcement Date 6/9/20 6/9/21 6/8/22 6/7/23 6/5/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: April 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4 2026 Q1
Net sales 1 1,037 996 1,007 1,094 1,081 1,046 1,038 1,107 1,069 964 998.3 1,092 1,096 1,010 1,053
EBITDA 1 368 267 363 332 193 319 348 359 398 388 329 362.2 338.3 277.1 355.8
EBIT 1 347 246 343 313 173 298 327 339 373 375 309.1 335.6 314.1 253.3 328.1
Operating Margin 33.46% 24.7% 34.06% 28.61% 16% 28.49% 31.5% 30.62% 34.89% 38.9% 30.96% 30.72% 28.66% 25.09% 31.14%
Earnings before Tax (EBT) 1 328 216 326 298 124 269 299 310 342 347 283.4 315.8 295.4 228.3 303.3
Net income 1 259 151 249 227 100 207 231 242 285 266 221.2 247.3 228.3 179.2 236.8
Net margin 24.98% 15.16% 24.73% 20.75% 9.25% 19.79% 22.25% 21.86% 26.66% 27.59% 22.15% 22.64% 20.83% 17.75% 22.48%
EPS 2 0.5400 0.3100 0.5200 0.4700 0.2100 0.4300 0.4800 0.5000 0.6000 0.5600 0.4650 0.5239 0.4778 0.3747 0.4927
Dividend per Share 2 1.188 0.1885 0.1885 0.1885 0.2055 0.2055 0.2055 0.2055 0.2178 0.2178 0.2184 0.2217 0.2318 0.2325 0.2286
Announcement Date 3/3/22 6/8/22 8/31/22 12/7/22 3/8/23 6/7/23 8/30/23 12/6/23 3/6/24 6/5/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: Abril 2020 2021 2022 2023 2024 2025 2026 2027
Net Debt 1 1,927 1,409 1,401 2,539 2,654 2,375 2,330 2,295
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.654 x 1.123 x 1.092 x 2.104 x 1.778 x 1.818 x 1.632 x 1.513 x
Free Cash Flow 1 611 755 798 457 419 792 793 -
ROE (net income / shareholders' equity) 45.7% 33.2% 31.1% 26.1% 30.2% 23.6% 23.3% 23.8%
ROA (Net income/ Total Assets) 15.2% 12.5% 13% 11.1% 12.8% 10.3% 10.6% 11.8%
Assets 1 5,457 7,220 6,447 7,075 7,971 8,457 8,890 8,704
Book Value Per Share 2 4.130 5.420 5.720 6.800 7.370 8.180 8.870 9.520
Cash Flow per Share 2 1.510 1.700 1.950 1.330 1.360 2.120 2.090 -
Capex 1 113 62 138 183 228 209 221 195
Capex / Sales 3.36% 1.79% 3.51% 4.33% 5.46% 4.96% 4.97% 4.18%
Announcement Date 6/9/20 6/9/21 6/8/22 6/7/23 6/5/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
19
Last Close Price
43.48 USD
Average target price
48.86 USD
Spread / Average Target
+12.37%
Consensus
  1. Stock Market
  2. Equities
  3. BF.B Stock
  4. Financials Brown-Forman Corporation