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How Brown Forman (BF-B) makes money

Brown Forman (BF-B) made $1.2B of revenue in the first quarter fiscal 2027 (Q1 FY27), -0.8% from a year earlier. Whiskey brought in $658M (56%); Other revenues brought in $270M (23%); Ready-to-Drink brought in $154M (13%). Of every dollar of revenue, 46¢ was left as gross profit, 21¢ was left as operating profit, 15¢ was left as net earnings.

Drawing the Sankey…

Brown Forman revenue by segment, Q1 FY27Brown Forman revenue by segment, Q1 FY27Whiskey$658MOther revenues$270MReady-to-Drink$154MTequila$54.0MRest of portfolio$39.0MNon-branded and bulk$6.0M
Brown Forman: revenue by line, Q3 FY25 to Q1 FY27Brown Forman: revenue by line, Q3 FY25 to Q1 FY27WhiskeyOther revenuesReady-to-DrinkTequilaRest of portfolioNon-branded and bulkWhiskey: $658M latest$658MOther revenues: $270M latest$270MReady-to-Drink: $154M latest$154MTequila: $54.0M latestRest of portfolio: $39.0M latestNon-branded and bulk: $6.0M latestQ3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Ready-to-Drink went from 9% of revenue in Q3 FY25 to 13% in Q1 FY27, the largest shift in the mix.
Brown Forman revenue by quarterBrown Forman revenue by quarter$1.3BQ3 FY25$1.1BQ4 FY25$1.2BQ1 FY26$1.3BQ2 FY26$1.4BQ3 FY26$1.2BQ4 FY26$1.2BQ1 FY27
Brown Forman: where each dollar of revenue goesBrown Forman: where each dollar of revenue goesCost of revenue54¢Gross profit46¢Operating expenses25¢Operating profit21¢Income tax4¢Net earnings15¢Operating cash flow15¢Free cash flow14¢

Revenue by segment, Q1 FY27

SegmentRevenueShareQ/QY/Y
Whiskey$658M55.7%-2%-0.2%
Other revenues$270M22.9%+9%+1%
Ready-to-Drink$154M13.0%+18%+20%
Tequila$54.0M4.6%-13%-13%
Rest of portfolio$39.0M3.3%-7%-36%
Non-branded and bulk$6.0M0.5%+50%-57%

Where each dollar of revenue goes

LineQ1 FY27% of revenue
Revenue$1.2B100.0%
Cost of revenue$632M53.5%
Gross profit$549M46.5%
Operating expenses$297M25.1%
Operating profit$252M21.3%
Income tax$53.0M4.5%
Net earnings$176M14.9%
Operating cash flow$173M14.6%
Free cash flow$161M13.6%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q1 FY27$1.2B-0.8%
Q4 FY26$1.2B+3%
Q3 FY26$1.4B+4%
Q2 FY26$1.3B-3%
Q1 FY26$1.2B-2%
Q4 FY25$1.1B-6%
Q3 FY25$1.3B-4%

From Brown Forman's 10-Q filed Sep 2, 2026 (on EDGAR).

Questions

How does Brown Forman make money?

Brown Forman (BF-B) made $1.2B of revenue in the first quarter fiscal 2027 (Q1 FY27), -0.8% from a year earlier. Whiskey brought in $658M (56%); Other revenues brought in $270M (23%); Ready-to-Drink brought in $154M (13%). Of every dollar of revenue, 46¢ was left as gross profit, 21¢ was left as operating profit, 15¢ was left as net earnings.

What is Brown Forman's biggest business?

Whiskey: $658M in the first quarter fiscal 2027, 56% of revenue, -0.2% from a year earlier.

What is Brown Forman's profit margin?

Net earnings were $176M, 14.9% of revenue, in the first quarter fiscal 2027; the operating margin was 21.3%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.