BF-ABROWN FORMAN CORP
Beverages
- Revenue
- $3.9B
- 1.2% YoY
- Operating margin
- 25.5%
- 8.5% YoY
- EBITDA
- $1.1B
- 8.5% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- 1.6×
- $1.8B net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear140% of net incomeCash flow under 80% of net income
- Dilutive SBCClear1% of revenueOver 10% of revenue
- Payouts exceed cash flowClear83% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear19% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $3.9B | $4.2B | $4.2B | $4.0B | $3.9B | 1.2% |
| Operating income | $1.2B | $1.1B | $1.4B | $1.1B | $1.0B | 9.6% |
| Net income | $838M | $783M | $1.0B | $869M | $715M | 18% |
| Operating cash flow | $936M | $640M | $647M | $598M | $1.0B | 67% |
| Capex | $138M | $183M | $228M | $167M | $107M | 36% |
| Stock-based comp | $15M | $18M | $25M | $28M | $32M | 14% |
| Buybacks | $0 | $0 | $400M | $0 | $400M | |
| Dividends | $831M | $378M | $404M | $420M | $427M | 1.7% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2026 | $25M | $19M | 37 | 152 |
| FY2025 | $13M | $6M | 49 | 140 |
| FY2024 | $13M | $6M | 66 | 122 |
| FY2023 | $10M | $7M | 88 | 119 |
| FY2022 | $8M | $4M | 91 | 117 |