Brown-Forman Corporation
Brown-Forman Corporation, together with its subsidiaries, manufactures, distills, bottles, imports, exports, markets, and sells a variety of alcohol beverages. It provides spirits, wines, whiskey spirits, whiskey-based flavored liqueurs, ready-to-drink cocktails, ready-to-pour products, vodkas, tequilas, gin, brandy, rum, bourbons, and liqueurs. The company offers its products primarily under the… Read more
Brown-Forman Corporation (BF-A) - Net Assets
Latest net assets as of January 2026: $4.08 Billion USD
Based on the latest financial reports, Brown-Forman Corporation (BF-A) has net assets worth $4.08 Billion USD as of January 2026.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($8.30 Billion) and total liabilities ($4.22 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $4.08 Billion |
| % of Total Assets | 49.17% |
| Annual Growth Rate | 5.38% |
| 5-Year Change | 50.34% |
| 10-Year Change | 155.63% |
| Growth Volatility | 16.76 |
Brown-Forman Corporation - Net Assets Trend (1986–2025)
This chart illustrates how Brown-Forman Corporation's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Brown-Forman Corporation (1986–2025)
The table below shows the annual net assets of Brown-Forman Corporation from 1986 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-04-30 | $3.99 Billion | +13.53% |
| 2024-04-30 | $3.52 Billion | +7.62% |
| 2023-04-30 | $3.27 Billion | +19.40% |
| 2022-04-30 | $2.74 Billion | +3.05% |
| 2021-04-30 | $2.66 Billion | +34.48% |
| 2020-04-30 | $1.98 Billion | +19.91% |
| 2019-04-30 | $1.65 Billion | +25.15% |
| 2018-04-30 | $1.32 Billion | -3.94% |
| 2017-04-30 | $1.37 Billion | -12.29% |
| 2016-04-30 | $1.56 Billion | -18.01% |
| 2015-04-30 | $1.91 Billion | -6.25% |
| 2014-04-30 | $2.03 Billion | +24.82% |
| 2013-04-30 | $1.63 Billion | -21.31% |
| 2012-04-30 | $2.07 Billion | +0.44% |
| 2011-04-30 | $2.06 Billion | +8.71% |
| 2010-04-30 | $1.90 Billion | +4.35% |
| 2009-04-30 | $1.82 Billion | +5.28% |
| 2008-04-30 | $1.73 Billion | +9.66% |
| 2007-04-30 | $1.57 Billion | +0.64% |
| 2006-04-30 | $1.56 Billion | +19.31% |
| 2005-04-30 | $1.31 Billion | +20.74% |
| 2004-04-30 | $1.08 Billion | +29.17% |
| 2003-04-30 | $840.00 Million | -35.93% |
| 2002-04-30 | $1.31 Billion | +10.45% |
| 2001-04-30 | $1.19 Billion | +13.26% |
| 2000-04-30 | $1.05 Billion | +14.29% |
| 1999-04-30 | $917.00 Million | +12.24% |
| 1998-04-30 | $817.00 Million | +11.92% |
| 1997-04-30 | $730.00 Million | +15.14% |
| 1996-04-30 | $634.00 Million | +16.14% |
| 1995-04-30 | $545.90 Million | +17.73% |
| 1994-04-30 | $463.70 Million | -43.32% |
| 1993-04-30 | $818.10 Million | +11.28% |
| 1992-04-30 | $735.20 Million | +11.29% |
| 1991-04-30 | $660.60 Million | +10.97% |
| 1990-04-30 | $595.30 Million | +7.13% |
| 1989-04-30 | $555.70 Million | +25.55% |
| 1988-04-30 | $442.60 Million | -23.41% |
| 1987-04-30 | $577.90 Million | +11.91% |
| 1986-04-30 | $516.40 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Brown-Forman Corporation's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 768.2% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (April 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $4.71 Billion | 117.96% |
| Common Stock | $72.00 Million | 1.80% |
| Other Comprehensive Income | $-220.00 Million | -5.51% |
| Total Equity | $3.99 Billion | 100.00% |
Brown-Forman Corporation Competitors by Market Cap
The table below lists competitors of Brown-Forman Corporation ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Alexandria Real Estate Equities Inc
NYSE:ARE
|
$7.61 Billion |
|
The Magnum Ice Cream Company N.V.
NYSE:MICC
|
$7.63 Billion |
|
ANA Holdings Inc
PINK:ALNPF
|
$7.63 Billion |
|
Bank of Nanjing Co Ltd
SHG:601009
|
$7.63 Billion |
|
Xiamen Tungsten Co Ltd
SHG:600549
|
$7.59 Billion |
|
Fujikura Ltd.
PINK:FKURF
|
$7.58 Billion |
|
Antero Midstream Partners LP
NYSE:AM
|
$7.58 Billion |
|
Indutrade AB (publ)
PINK:IDDWF
|
$7.58 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Brown-Forman Corporation's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 3,517,000,000 to 3,993,000,000, a change of 476,000,000 (13.5%).
- Net income of 869,000,000 contributed positively to equity growth.
- Dividend payments of 420,000,000 reduced retained earnings.
- Other comprehensive income increased equity by 1,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $869.00 Million | +21.76% |
| Dividends Paid | $420.00 Million | -10.52% |
| Other Comprehensive Income | $1.00 Million | +0.03% |
| Other Changes | $26.00 Million | +0.65% |
| Total Change | $- | 13.53% |
Book Value vs Market Value Analysis
This analysis compares Brown-Forman Corporation's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 2.79x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 26.77x to 2.79x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1986-04-30 | $0.88 | $23.54 | x |
| 1987-04-30 | $0.98 | $23.54 | x |
| 1988-04-30 | $0.50 | $23.54 | x |
| 1989-04-30 | $0.70 | $23.54 | x |
| 1990-04-30 | $0.76 | $23.54 | x |
| 1991-04-30 | $0.84 | $23.54 | x |
| 1992-04-30 | $0.95 | $23.54 | x |
| 1993-04-30 | $1.05 | $23.54 | x |
| 1994-04-30 | $0.60 | $23.54 | x |
| 1995-04-30 | $0.84 | $23.54 | x |
| 1996-04-30 | $0.98 | $23.54 | x |
| 1997-04-30 | $1.13 | $23.54 | x |
| 1998-04-30 | $1.26 | $23.54 | x |
| 1999-04-30 | $1.42 | $23.54 | x |
| 2000-04-30 | $1.63 | $23.54 | x |
| 2001-04-30 | $1.85 | $23.54 | x |
| 2002-04-30 | $2.01 | $23.54 | x |
| 2003-04-30 | $1.22 | $23.54 | x |
| 2004-04-30 | $1.90 | $23.54 | x |
| 2005-04-30 | $2.28 | $23.54 | x |
| 2006-04-30 | $2.70 | $23.54 | x |
| 2007-04-30 | $2.70 | $23.54 | x |
| 2008-04-30 | $2.98 | $23.54 | x |
| 2009-04-30 | $3.20 | $23.54 | x |
| 2010-04-30 | $3.40 | $23.54 | x |
| 2011-04-30 | $3.75 | $23.54 | x |
| 2012-04-30 | $3.83 | $23.54 | x |
| 2013-04-30 | $3.03 | $23.54 | x |
| 2014-04-30 | $3.78 | $23.54 | x |
| 2015-04-30 | $3.58 | $23.54 | x |
| 2016-04-30 | $3.06 | $23.54 | x |
| 2017-04-30 | $2.81 | $23.54 | x |
| 2018-04-30 | $2.72 | $23.54 | x |
| 2019-04-30 | $3.42 | $23.54 | x |
| 2020-04-30 | $4.11 | $23.54 | x |
| 2021-04-30 | $5.53 | $23.54 | x |
| 2022-04-30 | $5.70 | $23.54 | x |
| 2023-04-30 | $6.80 | $23.54 | x |
| 2024-04-30 | $7.37 | $23.54 | x |
| 2025-04-30 | $8.44 | $23.54 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Brown-Forman Corporation utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 21.76%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 21.86%
- • Asset Turnover: 0.49x
- • Equity Multiplier: 2.03x
- Recent ROE (21.76%) is below the historical average (27.94%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1986 | 16.73% | 8.68% | 0.96x | 2.01x | $34.76 Million |
| 1987 | 15.50% | 8.16% | 1.04x | 1.83x | $31.81 Million |
| 1988 | 23.36% | 9.69% | 1.14x | 2.11x | $59.14 Million |
| 1989 | 26.00% | 14.37% | 1.00x | 1.81x | $88.93 Million |
| 1990 | 13.61% | 7.97% | 1.00x | 1.72x | $21.47 Million |
| 1991 | 21.98% | 12.98% | 1.03x | 1.64x | $79.14 Million |
| 1992 | 19.91% | 11.62% | 1.06x | 1.62x | $72.88 Million |
| 1993 | 19.09% | 11.04% | 1.08x | 1.60x | $74.39 Million |
| 1994 | 27.71% | 9.17% | 1.14x | 2.66x | $82.13 Million |
| 1995 | 27.22% | 10.46% | 1.10x | 2.36x | $94.01 Million |
| 1996 | 25.24% | 10.36% | 1.12x | 2.18x | $96.60 Million |
| 1997 | 23.15% | 10.67% | 1.11x | 1.96x | $96.00 Million |
| 1998 | 22.64% | 11.08% | 1.12x | 1.83x | $103.30 Million |
| 1999 | 22.03% | 11.37% | 1.02x | 1.89x | $110.30 Million |
| 2000 | 20.80% | 11.61% | 1.04x | 1.72x | $113.20 Million |
| 2001 | 19.63% | 12.11% | 0.99x | 1.63x | $114.30 Million |
| 2002 | 17.39% | 11.64% | 0.97x | 1.54x | $96.90 Million |
| 2003 | 29.17% | 11.89% | 0.91x | 2.70x | $161.00 Million |
| 2004 | 23.78% | 11.66% | 0.93x | 2.19x | $149.50 Million |
| 2005 | 23.51% | 13.32% | 0.88x | 2.00x | $177.00 Million |
| 2006 | 20.47% | 16.19% | 0.72x | 1.75x | $163.70 Million |
| 2007 | 24.73% | 17.54% | 0.62x | 2.26x | $231.70 Million |
| 2008 | 25.51% | 17.04% | 0.76x | 1.97x | $267.50 Million |
| 2009 | 23.95% | 17.53% | 0.71x | 1.91x | $253.40 Million |
| 2010 | 23.70% | 18.19% | 0.73x | 1.79x | $259.70 Million |
| 2011 | 27.75% | 22.10% | 0.70x | 1.80x | $365.60 Million |
| 2012 | 24.80% | 18.84% | 0.78x | 1.68x | $306.30 Million |
| 2013 | 36.30% | 20.74% | 0.79x | 2.23x | $428.20 Million |
| 2014 | 32.43% | 22.03% | 0.73x | 2.02x | $455.80 Million |
| 2015 | 35.91% | 21.83% | 0.75x | 2.20x | $493.50 Million |
| 2016 | 68.31% | 34.54% | 0.74x | 2.68x | $910.80 Million |
| 2017 | 48.83% | 22.34% | 0.65x | 3.38x | $532.00 Million |
| 2018 | 54.48% | 22.08% | 0.65x | 3.78x | $585.40 Million |
| 2019 | 50.70% | 25.12% | 0.65x | 3.12x | $670.30 Million |
| 2020 | 41.87% | 24.59% | 0.58x | 2.92x | $629.50 Million |
| 2021 | 34.00% | 26.09% | 0.53x | 2.46x | $637.40 Million |
| 2022 | 30.62% | 21.31% | 0.62x | 2.33x | $564.30 Million |
| 2023 | 23.96% | 18.52% | 0.54x | 2.38x | $456.20 Million |
| 2024 | 29.12% | 24.51% | 0.51x | 2.32x | $672.30 Million |
| 2025 | 21.76% | 21.86% | 0.49x | 2.03x | $469.70 Million |
Industry Comparison
This section compares Brown-Forman Corporation's net assets metrics with peer companies in the Beverages - Wineries & Distilleries industry.
Industry Context
- Industry: Beverages - Wineries & Distilleries
- Average net assets among peers: $2,879,037,591
- Average return on equity (ROE) among peers: 19.48%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Brown-Forman Corporation (BF-A) | $4.08 Billion | 16.73% | 1.03x | $7.60 Billion |
| Andrew Peller Limited (ADWPF) | $220.25 Million | 13.67% | 1.09x | $98.78 Million |
| Agencia Comercial Spirits Ltd Class A Ordinary Shares (AGCC) | $1.21 Million | 19.76% | 1.23x | $74.90 Million |
| Aristocrat Group Corp (ASCC) | $-358.17K | 0.00% | 0.00x | $74.46K |
| Australian Vintage Ltd (AUVGF) | $13.86 Million | 10.42% | 0.83x | $16.12 Million |
| Becle SA de CV (BCCLF) | $23.65 Billion | 22.45% | 0.63x | $555.00 Million |
| Fitvia Corp (BRZV) | $-104.27K | 0.00% | 0.00x | $0.99 |
| Heritage Distilling Holding Company, Inc. Common Stock (CASK) | $791.77K | 89.73% | 34.36x | $14.08 Million |
| China Tontine Wines Group Limited (CATWF) | $1.85 Billion | 4.80% | 0.04x | $7.70 Million |
| Corby Spirit and Wine Limited (CBYDF) | $177.28 Million | 14.46% | 0.29x | $169.86 Million |