Brown-Forman (BF.B) Cash Flow: Operating & Free Cash Flow

Brown-Forman (BF.B) Cash Flow Statement

In fiscal 2026 (fiscal year ended Apr 30, 2026), Brown-Forman generated $1.00B of operating cash flow and spent $107.00M on capital expenditures. That left free cash flow of $893.00M, up 107.2% from $431.00M a year earlier, or 22.7% of revenue. It returned $827.00M to shareholders through $427.00M in dividends and $400.00M in share buybacks.

Brown-Forman Cash Flow Statement Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Brown-Forman Corporation (BF.B) - Annual data in billions USD
Breakdown	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Apr 2026	Apr 2025	Apr 2024	Apr 2023	Apr 2022	Apr 2021	Apr 2020	Apr 2019	Apr 2018	Apr 2017
Operating Activities
Net Income	0.72	0.87	1.02	0.78	0.84	0.90	0.83	0.84	0.72	0.67
Depreciation & Amortization	0.09	0.09	0.09	0.08	0.08	0.08	0.07	0.07	0.06	0.06
Deferred Income Tax	-0.04	-0.04	0.02	0.00	-0.01	-0.05	0.04	0.03	-0.07	-0.01
Stock Based Compensation	0.03	0.03	0.03	0.02	0.02	0.01	0.01	0.01	0.02	0.01
Change in Working Capital	0.08	-0.25	-0.26	0.41	-0.08	0.03	-0.26	-0.16	-0.10	-0.09
Change in Accounts Receivable	0.03	-0.07	0.09	-0.02	-0.08	-0.15	0.01	0.02	-0.07	0.01
Change in Inventory	-0.02	-0.06	-0.35	-0.40	-0.09	-0.04	-0.20	-0.16	-0.10	-0.09
Change in Accounts Payable	0.03	-0.04	-0.03	0.08	0.08	0.14	-0.03	-0.04	0.06	-0.02
Change in Other Working Capital	-0.02	-0.08	0.03	0.76	0.03	0.08	-0.03	0.02	0.01	0.00
Other Operating Activities	-0.02	-0.09	-0.24	-0.65	0.03	-0.15	0.03	0.01	0.00	0.00
Net Cash from Operating Activities	1.00	0.60	0.65	0.64	0.94	0.82	0.72	0.80	0.63	0.64
Investing Activities
Capital Expenditures	-0.11	-0.17	-0.23	-0.18	-0.14	-0.06	-0.11	-0.12	-0.13	-0.11
Acquisitions	0.03	0.00	0.25	-1.20	0.00	0.16	-0.02	0.00	0.00	-0.31
Sales/Maturities of Investments	0.00	0.27	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Investing Activities	0.00	0.15	0.03	0.02	0.01	0.00	-0.01	0.00	0.00	0.00
Net Cash from Investing Activities	-0.07	0.25	0.05	-1.36	-0.13	0.10	-0.14	-0.12	-0.13	-0.42
Financing Activities
Debt Repayment	-0.24	-0.42	0.19	0.63	-0.20	-0.13	0.18	-0.07	0.34	0.72
Common Stock Repurchased	-0.40	0.00	-0.40	0.00	0.00	0.00	0.00	-0.21	0.00	-0.56
Dividends Paid	-0.43	-0.42	-0.40	-0.38	-0.83	-0.34	-0.33	-0.31	-0.77	-0.27
Other Financing Activities	0.00	-0.01	-0.01	-0.02	-0.01	-0.02	-0.04	-0.01	-0.03	-0.17
Net Cash from Financing Activities	-1.07	-0.84	-0.62	0.24	-1.04	-0.49	-0.19	-0.60	-0.47	-0.29
Summary
Effect of Forex Changes on Cash	0.01	0.00	-0.01	-0.01	-0.05	0.05	-0.02	-0.01	0.02	-0.01
Net Change in Cash	-0.14	0.01	0.07	-0.48	-0.28	0.48	0.37	0.07	0.06	-0.08
Cash at Beginning of Period	0.46	0.46	0.38	0.87	1.15	0.68	0.31	0.24	0.18	0.26
Cash at End of Period	0.31	0.46	0.46	0.38	0.87	1.15	0.68	0.31	0.24	0.18
Free Cash Flow	0.89	0.43	0.42	0.46	0.80	0.76	0.61	0.68	0.51	0.53
Supplemental Disclosures
Interest Paid	-	0.12	0.13	0.09	0.08	0.08	-	-	-	-
Income Taxes Paid	-	0.30	0.24	0.28	0.23	0.20	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jul 31, 2026. Data sources and methodology

Frequently Asked Questions About Brown-Forman Cash Flow

What is Brown-Forman's free cash flow?

Brown-Forman generated free cash flow of $893.00M in fiscal 2026 (fiscal year ended Apr 30, 2026), operating cash flow of $1.00B minus $107.00M of capital expenditures. That was up 107.2% from $431.00M a year earlier. Free cash flow equaled 22.7% of revenue.

How much does Brown-Forman spend on capital expenditures?

Brown-Forman spent $107.00M on capital expenditures in fiscal 2026, compared with $167.00M a year earlier. That equals 10.7% of operating cash flow.

Does Brown-Forman pay dividends or buy back shares?

Yes. In fiscal 2026 Brown-Forman returned $427.00M in dividends and $400.00M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition