Brown Forman annual operating margin
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
Brown Forman Operating Margin Growth & History (BF-B)
Brown Forman's operating margin was 25.48% for fiscal 2026.
View full Brown Forman company overviewBrown Forman annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2026 | 2026-04-30 | 25.48% | −2.37 pp |
| 2025 | 2025-04-30 | 27.85% | −5.99 pp |
| 2024 | 2024-04-30 | 33.84% | +7.19 pp |
| 2023 | 2023-04-30 | 26.66% | −3.96 pp |
| 2022 | 2022-04-30 | 30.61% | −3.08 pp |
| 2021 | 2021-04-30 | 33.69% | +1.25 pp |
| 2020 | 2020-04-30 | 32.44% | −1.98 pp |
| 2019 | 2019-04-30 | 34.42% | +2.15 pp |
| 2018 | 2018-04-30 | 32.27% | −1.47 pp |
| 2017 | 2017-04-30 | 33.73% | — |
Brown Forman quarterly operating margin
Q1.18
Q2.18
Q3.18
Q4.18
Q1.19
Q2.19
Q3.19
Q4.19
Q1.20
Q2.20
Q3.20
Q4.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
Q3.26
Q4.26
| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q4 2026 | 2026-04-30 | 10.53% | −12.40 pp |
| Q3 2026 | 2026-01-31 | 32.20% | +5.14 pp |
| Q2 2026 | 2025-10-31 | 29.44% | −1.70 pp |
| Q1 2026 | 2025-07-31 | 28.14% | −1.41 pp |
| Q4 2025 | 2025-04-30 | 22.93% | −15.97 pp |
| Q3 2025 | 2025-01-31 | 27.05% | −7.84 pp |
| Q2 2025 | 2024-10-31 | 31.14% | +0.52 pp |
| Q1 2025 | 2024-07-31 | 29.55% | −1.96 pp |
| Q4 2024 | 2024-04-30 | 38.90% | +10.41 pp |
| Q3 2024 | 2024-01-31 | 34.89% | +18.89 pp |
| Q2 2024 | 2023-10-31 | 30.62% | +2.01 pp |
| Q1 2024 | 2023-07-31 | 31.50% | −2.56 pp |
| Q4 2023 | 2023-04-30 | 28.49% | +3.79 pp |
| Q3 2023 | 2023-01-31 | 16.00% | −17.46 pp |
| Q2 2023 | 2022-10-31 | 28.61% | −3.78 pp |
| Q1 2023 | 2022-07-31 | 34.06% | +2.16 pp |
| Q4 2022 | 2022-04-30 | 24.70% | +4.01 pp |
| Q3 2022 | 2022-01-31 | 33.46% | +2.62 pp |
| Q2 2022 | 2021-10-31 | 32.39% | −1.11 pp |
| Q1 2022 | 2021-07-31 | 31.90% | −19.50 pp |
| Q4 2021 | 2021-04-30 | 20.69% | −5.69 pp |
| Q3 2021 | 2021-01-31 | 30.85% | −2.97 pp |
| Q2 2021 | 2020-10-31 | 33.50% | −2.09 pp |
| Q1 2021 | 2020-07-31 | 51.39% | +19.02 pp |
| Q4 2020 | 2020-04-30 | 26.38% | −4.27 pp |
| Q3 2020 | 2020-01-31 | 33.82% | −1.58 pp |
| Q2 2020 | 2019-10-31 | 35.59% | −0.89 pp |
| Q1 2020 | 2019-07-31 | 32.38% | −2.09 pp |
| Q4 2019 | 2019-04-30 | 30.65% | +10.59 pp |
| Q3 2019 | 2019-01-31 | 35.40% | +0.55 pp |
| Q2 2019 | 2018-10-31 | 36.48% | −1.70 pp |
| Q1 2019 | 2018-07-31 | 34.46% | +0.44 pp |
| Q4 2018 | 2018-04-30 | 20.05% | — |
| Q3 2018 | 2018-01-31 | 34.85% | — |
| Q2 2018 | 2017-10-31 | 38.18% | — |
| Q1 2018 | 2017-07-31 | 34.02% | — |
Brown Forman operating margin trends
Over the last five reported fiscal years, Brown Forman's operating margin decreased from 33.69% to 25.48%, a change of −8.21 percentage points. The latest reported quarter, Q4 2026, shows 10.53%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Brown Forman filings at SEC.gov ↗