Revenue Growth Remains Modest
Revenue grew 2.0% year-over-year to $1.056B in Q3 FY2026, compared to $1.035B in the prior-year period, reflecting a measured demand environment for Brown-Forman's spirits portfolio.
来源: 10-Q Income Statement
该报告暂无中文版，以下为英文版分析。
按公开的固定规则计算，不是模型的主观判断——但其中一项输入（高等级风险的条数）取自下方的 AI 分析。
非投资建议，也不是目标价——评的是本季基本面，不是股价。 完整方法论 →
AI核心结论
Brown-Forman (BF.B) delivered modest Q3 FY2026 revenue growth of 2.0% to $1.056B, with operating income surging 21.4% to $340M driven by flat cost of revenue and disciplined cost management, though net income dipped slightly to $267M.
营收
10.56亿美元
同比 +2.03%
每股收益（稀释）
0.58美元
同比 +1.75%
毛利率
60.6%
同比 +0.8 个百分点
营业利润
3.4亿美元
同比 +21.43%
SEC XBRL 原值
Brown Forman (BF.B) Q3 FY2026 营收 10.56亿美元，同比增长 2.0%。 营业利润率 32.2%，较去年同期的 27.1% 扩大 5.1 个百分点。 BF.B 的财年 Q3 FY2026 对应日历 Q1 2026。
近 4 个季度：2 次超预期
| 季度 | 实际 EPS（美元） | 市场预期（美元） | 结果 |
|---|---|---|---|
| 2026年9月 | 0.38 | 0.38 | 超预期 +1.2% |
| 2026年6月 | 0.12 | 0.33 | 不及预期 -63.5% |
| 2026年3月本次财报 | 0.58 | 0.47 | 超预期 +22.6% |
| 2025年12月 | 0.47 | 0.48 | 不及预期 -2.8% |
2026年3月 实际 EPS 0.58美元，分析师一致预期 0.47美元，超预期 +22.6%。
由 AI 基于本次 SEC 报告整理
Revenue grew 2.0% year-over-year to $1.056B in Q3 FY2026, compared to $1.035B in the prior-year period, reflecting a measured demand environment for Brown-Forman's spirits portfolio.
来源: 10-Q Income Statement
Gross profit rose 3.4% to $640M, with gross margin improving approximately 80 basis points to 60.6% from 59.8%, as cost of revenue remained flat at $416M year-over-year, indicating favorable input cost dynamics.
来源: 10-Q Income Statement
Operating income jumped 21.4% to $340M, pushing operating margin to 32.2% from 27.1% — a 510 basis point improvement — suggesting meaningful operating leverage and/or reduced operating expenses beyond cost of revenue.
来源: 10-Q Income Statement
Cumulative fiscal year-to-date operating cash flow reached $709M, up 59.0% from $446M in the same prior-year period, reflecting improved cash generation from operations.
来源: 10-Q Cash Flow Statement
Brown-Forman repurchased $400M in shares on a fiscal year-to-date basis in FY2026, compared to zero in the same prior-year period, signaling management's confidence in the company's financial position and commitment to returning capital to shareholders.
来源: 10-Q Cash Flow Statement
由 AI 基于本次 SEC 报告整理 · 高 0 中 4 低 1
Current liabilities increased 24.7% year-over-year to $1.530B, while cash and equivalents declined 36.1% to $383M. Although the current ratio remains healthy at 2.77, the rapid build-up in short-term obligations warrants monitoring.
来源: 10-Q Balance Sheet
Cash and equivalents fell sharply from $599M to $383M, a decline of $216M or 36.1% year-over-year. This reduction is partly attributable to $400M in share buybacks and $737M in year-to-date financing outflows, which could constrain financial flexibility if business conditions deteriorate.
来源: 10-Q Balance Sheet & Cash Flow Statement
Net income fell 1.1% to $267M despite a 2.0% revenue increase and a 21.4% surge in operating income, suggesting elevated below-the-line costs such as interest expense or tax charges that offset operational gains.
来源: 10-Q Income Statement
Debt-to-equity stands at 1.03x with long-term debt of $2.445B, meaning the company carries significant financial leverage. While long-term debt declined 8.1% year-over-year, the absolute level remains substantial relative to equity of $4.082B.
来源: 10-Q Balance Sheet
Selling, general and administrative expenses rose 3.4% to $184M, outpacing revenue growth of 2.0%, which could pressure margins if this trend continues without corresponding revenue acceleration.
来源: 10-Q Income Statement
| 指标 | 当期 | 上期 | 同比变化 |
|---|---|---|---|
营收 亿美元 | 10.56 亿美元 | 10.35 亿美元 | +2.03% |
营业成本 亿美元 | 4.16 亿美元 | 4.16 亿美元 | 0.00% |
毛利润 亿美元 | 6.40 亿美元 | 6.19 亿美元 | +3.39% |
营业利润 亿美元 | 3.40 亿美元 | 2.80 亿美元 | +21.43% |
净利润 亿美元 | 2.67 亿美元 | 2.70 亿美元 | -1.11% |
每股收益（基本） 美元 | 0.58 美元 | 0.57 美元 | +1.75% |
每股收益（稀释） 美元 | 0.58 美元 | 0.57 美元 | +1.75% |
销售及管理费用 亿美元 | 1.84 亿美元 | 1.78 亿美元 | +3.37% |
答案基于本次 SEC 报告与本页数据
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