HIGHBuilt-inGeographic
56%
outside the United States
“10-K Item 1: 'The United States, our most important market, accounted for 44% of our net sales in fiscal 2025, and the other 56% were outside of the United States.'”
BF-A · Concentration risk · 10-K extracted
Brown Forman (BF-A) concentration risks
Updated
The most significant concentration Brown Forman discloses is outside the United States at 56%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Brown Forman’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 4 disclosed concentrations
HIGH1
MEDIUM1
LOW2
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMBuilt-inGeographic
44%
United States
“10-K Item 1: 'The United States, our most important market, accounted for 44% of our net sales in fiscal 2025, and the other 56% were outside of the United States.'”
LOWOutside partyCustomer
13%
largest customer
“10-K Item 1: 'our two largest customers accounted for approximately 13% and 11% of consolidated net sales, respectively'”
LOWOutside partyCustomer
11%
second-largest customer
“10-K Item 1: 'our two largest customers accounted for approximately 13% and 11% of consolidated net sales, respectively'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-08-02Brown-Forman's revenue base is geographically diversified but skews international: 56% of net sales in fiscal 2025 came from outside the United States, a high-share structural exposure to global consumer and currency dynamics, while the United States itself contributed 44%, a medium-share structural base in its most important single market. Neither figure reflects counterparty risk — both are macro/geographic in character, moving with broad consumer spending and FX trends across many markets rather than any single relationship. On the customer side, concentration is modest: the two largest customers accounted for approximately 13% and 11% of consolidated net sales, respectively, both low-share dependency exposures. Taken together, the profile is one of geographic breadth with a mild home-market tilt, and customer relationships that, while worth naming, are not large enough individually to be a swing factor. The more consequential variable for the investment case is likely the international/domestic sales mix given its structural size, rather than the comparatively small customer concentrations.
For the engine’s reasoning on BF-A’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Beverages - Wineries & Distilleries
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| BF-A● | Brown Forman Inc | 1 | 1 | 2 | 4 |
| BF-B | Brown Forman Inc | 1 | 1 | 2 | 4 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.