BF.B Brown Forman margins

Relative Growth: Rel. Growth: 32

Relative Strength: Rel. Strength: 50

Relative Valuation: Rel. Valuation: 59

Relative Profitability: Rel. Profitability: 69

Gross margin

46.8%

Operating margin

19%

EBITDA margin

21.5%

Net margin

14.2%

Using the latest TTM figures, Brown Forman shows a gross margin of 46.8%, an operating margin of 19%, an EBITDA margin of 21.5%, and a net margin of 14.2%. Margin expansion was strongest in gross margin, which increased by 0.5 percentage points. EBITDA margin had the strongest contraction, declining by 3.3 percentage points.

BF.B margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Brown Forman recorded average margins of 46.75% gross, 22.4% operating, 25.23% EBITDA, and 16.97% net. Brown Forman's current performance shows that gross margin is above its three-year average and operating, EBITDA, and net margins are below their three-year averages.

BF.B margin expansion

Year-over-year margin changes in percentage points

Year over year, gross margin expanded by 0.5 percentage points, while operating margin contracted by 0.9 percentage points, EBITDA margin by 3.3 percentage points, and net margin by 2.6 percentage points.

Gross margin expansion

0.5pp

Operating margin expansion

-0.9pp

EBITDA margin expansion

-3.3pp

Net margin expansion

-2.6pp

BF.B Gross margin

Over the last 3 years, the average gross margin for Brown Forman was 46.75%. Brown Forman's current gross margin is 46.8% and is 0.1 percentage points above its three-year average. Brown Forman's gross margin ranged from a low of 46% in Oct 2025 to a high of 47.7% in Jan 2024.

BF.B Operating margin

The average operating margin for Brown Forman was 22.4% over the last 3 years. At present, the current operating margin for Brown Forman is 19%, 3.4 percentage points below its three-year average. The operating margin for Brown Forman moved between 18.9% in Apr 2026 and 26.9% in Apr 2024.

BF.B EBITDA margin

In the last 3 years, Brown Forman had an average EBITDA margin of 25.23%. Compared with its three-year average, Brown Forman's current EBITDA margin is 21.5% and is 3.7 percentage points below its three-year average. Looking back over the last 3 years, Brown Forman's EBITDA margin reached 28.5% at its highest point in Jan 2025 and 21.3% at its lowest in Apr 2026.

BF.B Net margin

Across the last 3 years, Brown Forman recorded an average net margin of 16.97%. Brown Forman's current net margin is 14.2% and is 2.8 percentage points below its three-year average. The highest net margin for Brown Forman was 19.4% in Oct 2024, while the lowest was 14.1% in Apr 2026.

BF.B margin group comparison

Margins compared with peer-group, industry and sector averages

Brown Forman's gross margin of 46.8% is above the Consumer Defensive sector average but below the industry average. Looking at its Consumer Defensive sector average of 36.6%, Brown Forman's gross margin is 28% higher.

BF.B margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Brown Forman's gross margin?

As of Jul 31, 2026, BF.B has a gross margin of 46.8%.

What is Brown Forman's operating margin?

For the period ending Jul 31, 2026, BF.B recorded an operating margin of 19%.

What is Brown Forman's EBITDA margin?

For the period ending Jul 31, 2026, BF.B recorded an EBITDA margin of 21.5%.

What is Brown Forman's net margin?

For the period ending Jul 31, 2026, BF.B recorded a net margin of 14.2%.

What are the average margins of BF.B?

The three-year average margins for BF.B were 46.8% gross, 22.4% operating, 25.2% EBITDA, and 17.0% net.

What are the highest historical margins of BF.B?

Looking back across 5 years, BF.B reached 47.7% gross in Jan 2024, 26.9% operating in Apr 2024, 28.5% EBITDA in Jan 2025, and 19.4% net in Oct 2024.

What are the lowest historical margins of BF.B?

Across the 5-year period, BF.B posted its lowest margins at 46% gross in Oct 2025, 18.9% operating in Apr 2026, 21.1% EBITDA in Jan 2023, and 13.6% net in Jan 2023.