Earnings per Share
We calculate basic earnings per share by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share further includes the dilutive effect of stock-based compensation awards. We calculate that dilutive effect using the “treasury stock method” (as defined by GAAP).
The following table presents information concerning basic and diluted earnings per share: 
Year Ended April 30,202420252026
Net income available to common stockholders$1,024 $869 $715 
Share data (in thousands):
Basic average common shares outstanding476,394 472,655 466,335 
Dilutive effect of stock-based awards826 295 398 
Diluted average common shares outstanding477,220 472,950 466,733 
Basic earnings per share$2.15 $1.84 $1.53 
Diluted earnings per share$2.14 $1.84 $1.53 
We excluded common stock-based awards for approximately 1,689,000 shares, 3,325,000 shares, and 4,775,000 shares from the calculation of diluted earnings per share for 2024, 2025, and 2026, respectively, because they were not dilutive for those periods under the treasury stock method.
Free Sentinel

Want the next BROWN FORMAN CORP earnings per share disclosure the moment it drops?

Set a Sentinel and we'll alert you the moment BROWN FORMAN CORP's next filing hits EDGAR. No credit card, your email never gets sold.

Track for free

Historical Timeline

Fiscal YearFiled
2026Jun 12, 2026Showing above
2025Jun 13, 2025
2024Jun 14, 2024
2023Jun 16, 2023
2022Jun 17, 2022
2021Jun 21, 2021
2020Jun 19, 2020
2019Jun 13, 2019
2018Jun 13, 2018
2017Jun 15, 2017
2016Jun 16, 2016

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.