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-B · Concentration risk · 10-K extracted
Brown Forman (BF-B) 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.
Show full disclosure ▾Hide full disclosure ▴
About TrendMatrix. TrendMatrix is a publisher of general securities research and market commentary. We publish on a regular schedule. All content is the same for every subscriber in a tier — we do not provide personalized investment advice and we do not take into account any individual subscriber's financial situation, investment objectives, risk tolerance, tax situation, or holdings.
Not investment advice. TrendMatrix is not a registered investment adviser. Our content is for informational and educational purposes only. Consult your own licensed investment adviser, broker, or tax professional before making any investment decision.
Conflicts and positions. The TrendMatrix editorial team frequently holds personal long-term positions in securities discussed. We disclose positions held at the time of publication on each piece. We maintain a trading-window policy: we do not initiate or close positions in the same direction as a TrendMatrix publication within 24 hours before or 72 hours after publication.
No paid promotion. TrendMatrix does not accept payment from any issuer, broker, or third party in exchange for coverage of any security. Our sole compensation is subscription revenue.
No fiduciary duty. No fiduciary, advisory, or agency relationship is created between you and TrendMatrix by reading our content or subscribing to our service.
Performance. Past performance is not indicative of future results. Performance figures reflect the published model only and do not reflect any individual subscriber's actual results.
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-B’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.