Brown-Forman Corporation
BF.B 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. In the quarter to July 2026, revenue fell 1.41%, EPS grew 5.56%, free cash flow was flat and total debt fell 9.63%, each against the same quarter a year earlier. Member of the S&P 500.
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Brown-Forman Corporation (BF.B) Piotroski F-score
Brown-Forman Corporation's Piotroski F-score for fiscal 2026 is 7 out of 9: 7 of nine tests of profitability, leverage and efficiency passed, up from 4 in fiscal 2025.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2026 | 7 | 3.00 |
| FY2025 | 4 | (2.00) |
| FY2024 | 6 | 4.00 |
| FY2023 | 2 | (4.00) |
| FY2022 | 6 | 2.00 |
| FY2021 | 4 | 0.00 |
| FY2020 | 4 | (2.00) |
| FY2019 | 6 | 1.00 |
| FY2018 | 5 | 2.00 |
| FY2017 | 3 | — |
How fiscal 2026’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 8.95% | 10.69% | Pass | 1 |
| Positive operating cash flow | 1.00b | 598.00m | Pass | 1 |
| Rising return on assets | 8.95% | 10.69% | Fail | 0 |
| Cash flow above net income | 285.00m | (271.00m) | Pass | 1 |
| Falling long-term leverage | 0.26 | 0.30 | Pass | 1 |
| Rising current ratio | 3.24 | 3.88 | Fail | 0 |
| No new shares issued | 466,335,000 | 472,655,000 | Pass | 1 |
| Rising gross margin | 60.54% | 58.94% | Pass | 1 |
| Rising asset turnover | 0.49 | 0.49 | Pass | 1 |
| Piotroski F-score | Strong — most fundamentals improved | 7 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| BF.A Brown Forman Corporation compare | 7 |
| BF.B Brown-Forman Corporation | 7 |
| SNDL SNDL Inc. compare | 6 |
| DEO Diageo plc compare | 4 |
| MGPI MGP Ingredients, Inc. compare | 4 |
| EPSM Epsium Enterprise Limited compare | 3 |
| IBG Innovation Beverage Group Limited compare | 2 |
| AGCC Agencia Comercial Spirits Ltd compare | 2 |
| WVVI Willamette Valley Vineyards, Inc. compare | 1 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover
More on BF.B
- 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
- Altman Z-score
- Beneish M-score
- The full statement