Company Valuation: Brown-Forman Corporation

Data adjusted to current consolidation scope
Fiscal Period: April 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 35,681 31,453 31,327 22,817 16,429 12,316 - -
Change - -11.85% -0.4% -27.17% -28% -25.03% - -
Enterprise Value (EV) 1 37,090 32,854 33,866 25,471 18,718 14,457 14,290 14,139
Change - -11.42% 3.08% -24.79% -26.51% -22.76% -1.16% -1.05%
P/E ratio 40.6x 38.8x 39.9x 22.4x 18.9x 15.5x 15.7x 15.3x
PBR 14.1x 11.8x 9.57x 6.49x 4.13x 2.98x 2.73x 2.56x
PEG - -5.21x -6.31x 0.7x -1.3x -2.25x -11.45x 5.74x
Capitalization / Revenue 10.3x 8x 7.41x 5.46x 4.13x 3.17x 3.13x 3.05x
EV / Revenue 10.7x 8.35x 8.01x 6.1x 4.71x 3.72x 3.63x 3.5x
EV / EBITDA 33.2x 25.6x 28.1x 17x 15.7x 12.1x 12.2x 11.9x
EV / EBIT 31.8x 27.3x 30.1x 18x 16.9x 13x 13.3x 13x
EV / FCF 49.1x 41.2x 74.1x 60.8x 43.4x 17.9x 21.6x 20.4x
FCF Yield 2.04% 2.43% 1.35% 1.65% 2.3% 5.6% 4.63% 4.9%
Dividend per Share 2 0.7076 1.736 0.788 0.8466 0.8886 0.9193 0.9565 1.009
Rate of return 0.93% 2.57% 1.21% 1.77% 2.55% 3.46% 3.6% 3.8%
EPS 2 1.88 1.74 1.63 2.14 1.84 1.713 1.69 1.735
Distribution rate 37.6% 99.8% 48.3% 39.6% 48.3% 53.7% 56.6% 58.1%
Net sales 1 3,461 3,933 4,228 4,178 3,975 3,891 3,935 4,044
EBITDA 1 1,116 1,283 1,207 1,501 1,194 1,195 1,175 1,189
EBIT 1 1,166 1,204 1,127 1,414 1,107 1,114 1,075 1,088
Net income 1 903 838 783 1,024 869 802.5 774.2 782.6
Net Debt 1 1,409 1,401 2,539 2,654 2,289 2,141 1,973 1,823
Reference price 2 76.28 67.44 65.09 47.85 34.84 26.56 26.56 26.56
Nbr of stocks (in thousands) 4,78,695 4,78,971 4,79,241 4,72,524 4,72,669 4,58,704 - -
Announcement Date 09/06/21 08/06/22 07/06/23 05/06/24 05/06/25 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.5x3.72x12.1x3.46% 1.23TCr
13.14x3.33x10.22x2.65% 4.52TCr
11.09x2.69x8.94x7.59% 1.81TCr
9.89x1.26x7.9x5.7% 829.13Cr
78.24x7.62x47.16x0.17% 479.64Cr
39.72x4.73x25.28x1.21% 403.27Cr
23.99x2.98x13.28x2.89% 244.38Cr
28.64x2.02x16.07x2.39% 120.61Cr
25.75x - - 3.16% 120.39Cr
Average 27.33x 3.54x 17.62x 3.25% 1.08TCr
Weighted average by Cap. 17.69x 3.33x 12.64x 3.76%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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