Brown-Forman
Financial ratios & Valuation

Historical Multiples (2015 – 2024)

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 TTM Median
Valuation Ratios
Price/Earnings ratio
27.9118.3227.4437.5430.5635.9340.4238.5339.9522.2618.2735.93
Price/Sales ratio
6.096.326.138.287.678.8310.548.217.395.454.468.83
Price/Book Value ratio
10.0212.5113.4020.4515.4915.0413.7411.799.576.484.9515.04
Price/Cash Flow ratio
31.3937.3128.7342.5931.9041.0444.6734.5048.8835.2327.0241.04
Price/Free Cash Flow ratio
39.1246.9934.8453.3037.4748.6348.3440.4768.4554.4039.8037.47
Price/Earnings Growth ratio
5.720.29-0.804.701.82-62.524.37-5.20-6.350.7114.071.82
Dividend Yield
1.34%1.36%1.49%2.87%1.21%1.09%0.92%2.57%1.20%1.77%2.26%1.21%
Profitability Indicator Ratios
Gross Profit Margin
69.65%69.40%67.50%67.79%65.16%63.24%60.50%60.79%58.98%60.45%59.20%63.24%
Operating Profit Margin
32.76%49.62%33.03%31.98%34.41%32.44%33.68%30.61%26.65%33.84%33.58%33.58%
Pretax Profit Margin
31.97%48.20%31.16%30.08%31.34%30.00%31.23%28.32%24.05%31.06%30.76%30.76%
Net Profit Margin
21.82%34.54%22.34%22.07%25.12%24.59%26.09%21.30%18.51%24.50%24.61%24.61%
Effective Tax Rate
31.73%28.34%28.29%26.61%19.86%18.03%16.46%24.77%23.00%21.10%20%19.86%
Return on Assets
16.31%25.50%14.46%14.40%16.24%14.31%13.84%13.14%10.06%12.53%12.04%14.31%
Return On Equity
35.90%68.30%48.83%54.48%50.69%41.87%33.99%30.61%23.95%29.11%28.82%41.87%
Return on Capital Employed
31.74%45.19%27.05%25.00%25.78%22.28%20.80%22.55%16.83%21.40%20.20%22.28%
Liquidity Ratios
Current Ratio
2.352.822.423.113.863.71N/AN/AN/AN/A2.703.71
Quick Ratio
1.351.491.111.431.701.792.351.891.400.941.051.79
Cash ratio
0.380.330.180.290.430.761.250.830.340.280.260.76
Days of Sales Outstanding
67.8966.0567.9071.8066.8761.8679.4175.4573.8167.1885.3666.87
Days of Inventory outstanding
365.76407.10476.41481.19479.10497.59467.53430.33480.56564.73562.63479.10
Operating Cycle
433.66473.15544.31553.00545.97559.45546.94505.78554.37631.91648.00545.97
Days of Payables Outstanding
47.2046.7351.3953.7347.2738.6845.9251.6064.8358.99152.4447.27
Cash Conversion Cycle
386.45426.41492.92499.27498.69520.77501.01454.17489.54572.92495.55520.77
Debt Ratios
Debt Ratio
0.280.350.460.510.470.450.390.350.370.370.380.45
Debt Equity Ratio
0.620.961.561.941.481.310.960.820.890.880.861.31
Long-term Debt to Capitalization
0.280.440.550.640.580.530.460.420.450.400.390.53
Total Debt to Capitalization
0.380.490.610.660.590.560.490.450.470.460.460.56
Interest Coverage Ratio
38.0322.7816.7615.271313.30N/AN/AN/AN/A10.4513.30
Cash Flow to Debt Ratio
0.510.340.290.240.320.270.310.410.210.200.210.27
Company Equity Multiplier
2.202.673.373.783.122.922.452.322.372.322.242.92
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.190.160.210.190.240.210.230.230.150.150.160.21
Free Cash Flow / Operating Cash Flow Ratio
0.800.790.820.790.850.840.920.850.710.640.670.84
Cash Flow Coverage Ratio
0.510.340.290.240.320.270.310.410.210.200.210.27
Short Term Coverage Ratio
1.381.931.382.935.332.173.983.742.720.880.832.17
Dividend Payout Ratio
37.42%24.92%40.95%107.81%37.12%39.29%37.43%99.16%48.27%39.45%41.13%37.12%