stockrowBrown Forman Corporation
BF.A Consumer Defensive Beverages Wineries & Distilleries
Brown Forman Corporation’s revenue for fiscal 2026 (year ended April 2026) was $3.9 billion, down 1.18% from fiscal 2025.
- Revenue
- −1.41%
- EPS
- +5.56%
- Free cash flow
- −0.62%
- Total debt
- −9.63%
Quarter to July 2026, against a year earlier
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Brown Forman Corporation (BF.A) Altman Z-score
Brown Forman Corporation's Altman Z-score for fiscal 2026 is 4.12, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 4.12 | (0.50) |
| FY2025 | 4.62 | (0.58) |
| FY2024 | 5.19 | (1.10) |
| FY2023 | 6.30 | (1.10) |
| FY2022 | 7.40 | (0.27) |
| FY2021 | 7.67 | 1.02 |
| FY2020 | 6.65 | (0.12) |
| FY2019 | 6.77 | 0.31 |
| FY2018 | 6.46 | (0.03) |
| FY2017 | 6.49 | (0.83) |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.35 | — | 0.42 | |
| Retained earnings / total assets | 0.63 | — | 0.89 | |
| EBIT / total assets | 0.13 | — | 0.42 | |
| Market value of equity / total liabilities | 3.16 | — | 1.90 | |
| Sales / total assets | 0.50 | — | 0.50 | |
| Altman Z-score | Safe zone | 4.12 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 6.30 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| AGCC Agencia Comercial Spirits Ltd compare | 5.9× |
| BF.A Brown Forman Corporation | 4.1× |
| BF.B Brown-Forman Corporation compare | 4.1× |
| DEO Diageo plc compare | 1.8× |
| CASK MGP Ingredients, Inc. compare | 1.6× |
| SNDL SNDL Inc. compare | 1.2× |
| WVVI Willamette Valley Vineyards, Inc. compare | 1.0× |
| IBG Innovation Beverage Group Limited compare | −31.4× |
| AMSS AMASS Brands, Inc. compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets
More on BF.A
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Beneish M-score
- The full statement