Brown–Forman
BF-B · Distillers & Vintners
$29.41
2.6%Boston Beer
SAM · Distillers & Vintners
$202.28
3.4%The short version
- Brown–Forman is the larger business, with $3.9B of revenue in fiscal 2026 against $2.0B for Boston Beer, about 2.0 times as much.
- Brown–Forman grew revenue faster (−1.2%, against −2.4%).
- Brown–Forman kept more of each dollar of sales as operating profit (25.5% operating margin, against 7.4% operating margin).
- Brown–Forman turned more of its sales into free cash flow (22.7% FCF margin, against 11.0% FCF margin).
- Boston Beer earned a higher return on the capital invested in it (15.4%, against 12.9%).
| Latest fiscal year | BF-B · FY26 | SAM · FY25 |
|---|---|---|
| Size | ||
| Market cap | $13.5B | $2.1B |
| Revenue | $3.9B | $2.0B |
| Free cash flow | $893M | $216M |
| Net income | $715M | $109M |
| Growth | ||
| Revenue growth | −1.2% | −2.4% |
| 5-year growth | 2.6% | 2.5% |
| Share count change | −1.3% | −7.1% |
| Profitability | ||
| Gross margin | 60.5% | 48.5% |
| Operating margin | 25.5% | 7.4% |
| Net margin | 18.2% | 5.5% |
| FCF margin | 22.7% | 11.0% |
| Return on capital | 12.9% | 15.4% |
| Return on equity | 17.9% | 12.3% |
| Balance sheet | ||
| Net debt | $2.2B | −$222M |
| Net debt / EBITDA | 2.0x | −0.9x |
| Dividends and buybacks | $827M | $202M |
| Valuation & quality | ||
| P/E | 19.0x | — |
| Piotroski F-score | 6 | 7 |
FY17
BF-B $3.0B
SAM $863M
FY18
BF-B $3.2B
SAM $996M
FY19
BF-B $3.3B
SAM $1.2B
FY20
BF-B $3.4B
SAM $1.7B
FY21
BF-B $3.5B
SAM $2.1B
FY22
BF-B $3.9B
SAM $2.1B
FY23
BF-B $4.2B
SAM $2.0B
FY24
BF-B $4.2B
SAM $2.0B
FY25
BF-B $4.0B
SAM $2.0B
FY26
BF-B $3.9B
SAM —
BF-B
SAM
FY17
BF-B 33.7%
SAM 13.4%
FY18
BF-B 32.3%
SAM 11.6%
FY19
BF-B 34.4%
SAM 11.6%
FY20
BF-B 32.4%
SAM 14.1%
FY21
BF-B 33.7%
SAM 0.4%
FY22
BF-B 30.6%
SAM 4.3%
FY23
BF-B 26.7%
SAM 5.0%
FY24
BF-B 33.8%
SAM 3.8%
FY25
BF-B 27.9%
SAM 7.4%
FY26
BF-B 25.5%
SAM —
BF-B
SAM
FY17
BF-B $544M
SAM $103M
FY18
BF-B $526M
SAM $108M
FY19
BF-B $681M
SAM $85.0M
FY20
BF-B $611M
SAM $113M
FY21
BF-B $755M
SAM −$91.6M
FY22
BF-B $798M
SAM $109M
FY23
BF-B $457M
SAM $201M
FY24
BF-B $419M
SAM $173M
FY25
BF-B $431M
SAM $216M
FY26
BF-B $893M
SAM —
BF-B
SAM
FY17
BF-B 23.6%
SAM 27.6%
FY18
BF-B 22.1%
SAM 26.0%
FY19
BF-B 24.7%
SAM 21.0%
FY20
BF-B 23.3%
SAM 25.6%
FY21
BF-B 24.5%
SAM 0.9%
FY22
BF-B 22.1%
SAM 7.2%
FY23
BF-B 17.5%
SAM 8.3%
FY24
BF-B 18.6%
SAM 7.0%
FY25
BF-B 14.3%
SAM 15.4%
FY26
BF-B 12.9%
SAM —
BF-B
SAM
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.