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Brown Forman cash flow, quarter by quarter

Latest: Q1 FY27 · from the cash-flow statements filed with the SEC

Free cash flow$161M in Q1 FY27 · $925M over twelve months

Operating cash flow$173M
Capital spending−$12.0M
Free cash flow+$161M
Cash / net income1.0×

Analysis

In Q1 FY27, Brown Forman generated $173M of operating cash flow and spent $12.0M on capital projects, leaving free cash flow of $161M. That is $32.0M more than in Q1 FY26 ($129M).

Over the twelve months to Jul 31, 2026, operating cash flow was $1.0B; the largest uses were dividends ($426M), other financing ($406M), net borrowing (+) / repaid (−) ($268M); besides operations, cash came from other investing ($2.0M); the cash balance fell by $170M.

Operating cash flow was $173M against net income of $176M — 1.0× profit, roughly in line with earnings. The largest differences: payables −$82.0M, prepaid and other assets +$42.0M, inventory −$39.0M.

Free cash flow

Brown Forman: free cash flow by quarterBrown Forman: free cash flow by quarter$81.0MQ2 FY25$272MQ3 FY25$102MQ4 FY25$129MQ1 FY26$107MQ2 FY26$392MQ3 FY26$265MQ4 FY26$161MQ1 FY27
Operating cash flow less capital spending.
Brown Forman: operating cash flow against capital spendingBrown Forman: operating cash flow against capital spendingOperating cash flowCapital spending$112M$31.0MQ2 FY25$317M$45.0MQ3 FY25$152M$50.0MQ4 FY25$160M$31.0MQ1 FY26$132M$25.0MQ2 FY26$417M$25.0MQ3 FY26$291M$26.0MQ4 FY26$173M$12.0MQ1 FY27
Latest (Q1 FY27): Operating cash flow $173M, Capital spending $12.0M.

Capital allocation, year by year

Brown Forman: where the cash came from (up) and went (down), by fiscal yearBrown Forman: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsBuybacksDividendsFY22: Operating cash flow $936MFY22: Net borrowing −$196MFY22: Capital spending −$138MFY22: Dividends −$831M$936MFY22FY23: Operating cash flow $640MFY23: Net borrowing $632MFY23: Capital spending −$183MFY23: Acquisitions −$1.2BFY23: Dividends −$378M$1.3BFY23FY24: Operating cash flow $647MFY24: Net borrowing $192MFY24: Asset sales $246MFY24: Capital spending −$228MFY24: Buybacks −$400MFY24: Dividends −$404M$1.1BFY24FY25: Operating cash flow $598MFY25: Net borrowing −$417MFY25: Capital spending −$167MFY25: Dividends −$420M$598MFY25FY26: Operating cash flow $1.0BFY26: Net borrowing −$244MFY26: Capital spending −$107MFY26: Buybacks −$400MFY26: Dividends −$427M$1.0BFY26
Over these 5 years operating cash flow totalled $3.8B; the largest uses were dividends ($2.5B) and acquisitions ($1.2B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$301M
Debt$2.4B
Net debt$2.1B
Due within a year$351M

Brown Forman funds itself: free cash flow was $925M over the last twelve months, and $301M of cash and investments stands against $2.4B of debt ($351M due within a year, 0.9× covered by cash).

Brown Forman: debt maturities by year (FY26)Brown Forman: debt maturities by year (FY26)$351MYear 1$405MYear 3$1.7BAfter year 5
Principal due in each year as disclosed in the annual report, against $301M of cash and investments now.

Where the cash came from and went

Brown Forman: sources (+) and uses (−) of cash, Q1 FY27Brown Forman: sources (+) and uses (−) of cash, Q1 FY27Operating cash flow$173MDividends−$106MNet borrowing (+) / repaid (−)−$54.0MCapital spending−$12.0MCash drawn (+) / kept (−)$7.0MTaxes on employees’ shares−$3.0MExchange rates−$3.0MOther investing−$1.0MOther financing−$1.0M
Brown Forman: sources (+) and uses (−) of cash, TTM to Q1 FY27Brown Forman: sources (+) and uses (−) of cash, TTM to Q1 FY27Operating cash flow$1.0BDividends−$426MOther financing−$406MNet borrowing (+) / repaid (−)−$268MCash drawn (+) / kept (−)$170MCapital spending−$88.0MExchange rates$3.0MOther investing$2.0M

From profit to cash

Brown Forman: net income to operating cash flow, Q1 FY27Brown Forman: net income to operating cash flow, Q1 FY27Net income$176MDepreciation & amortization$23.0MStock-based pay$4.0MDeferred taxes−$9.0MOther non-cash$3.0MReceivables$7.0MInventory−$39.0MPayables−$82.0MPrepaid and other assets$42.0MIncome taxes payable$31.0MOther operating capital$13.0MOperating cash flow$173M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q1 FY27$173M−$12.0M—−$106M−$54.0M$7.0M$161M
Q4 FY26$291M−$26.0M—−$106M−$231M$75.0M$265M
Q3 FY26$417M−$25.0M−$301M−$107M$71.0M−$64.0M$392M
Q2 FY26$132M−$25.0M—−$107M−$54.0M$152M$107M
Q1 FY26$160M−$31.0M—−$107M−$30.0M−$27.0M$129M
Q4 FY25$152M−$50.0M—−$107M$110M$157M$102M
Q3 FY25$317M−$45.0M—−$107M−$310M−$194M$272M
Q2 FY25$112M−$31.0M—−$103M$29.0M—$81.0M

Brown Forman: income statement and cash flow

Brown Forman, Q1 FY27: revenue $1.2B (-0.8% year over year), operating margin 21.3%. The chart follows the revenue to costs, profit and cash.

Brown Forman: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.