Diageo plc (DEO) 10-Year Financial Performance & Capital Metrics

DEO • • Industrial / General

Consumer DefensiveWineries & DistilleriesPremium Spirits & Whiskey ProducersGlobal Spirits Giants

AboutDiageo plc, together with its subsidiaries, produces, markets, and sells alcoholic beverages. The company offers scotch, whisky, gin, vodka, rum, ready to drink products, raki, liqueur, wine, tequila, Canadian whisky, American whiskey, cachaca, and brandy, as well as beer, including cider and non-alcoholic products. It provides its products under the Johnnie Walker, Crown Royal, Bulleit and Buchanan's whiskies, Smirnoff, Cîroc and Ketel One vodkas, Casamigos, DeLeon and Don Julio tequilas, Captain Morgan, Baileys, Tanqueray, and Guinness brands. The company operates in North America, Europe, Turkey, Africa, Latin America, the Caribbean, the Asia Pacific, and internationally. The company was incorporated in 1886 and is headquartered in London, the United Kingdom.Show more

Revenue $20.25B -0.1%
EBITDA $6.05B -6.8%
Net Income $2.35B -39.2%
EPS (Diluted) 4.24 -38.7%
Gross Margin 60.13%
EBITDA Margin 29.9% -6.7%
Operating Margin 21.41% -27.7%
Net Margin 11.63% -39.1%
ROE 18.65% -42.7%
ROIC 9.59% -32.8%
Debt/Equity 1.85 +3.9%
Interest Coverage 3.93 -15.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 31.0%
✓12 consecutive years of dividend growth
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 11.5%
✓Healthy dividend yield of 4.6%
✓Healthy 5Y average net margin of 19.7%

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y6.47%

5Y11.49%

3Y9.42%

TTM12.74%

Profit (Net Income) CAGR

10Y-0.11%

5Y6.3%

3Y-15.78%

TTM-19.06%

EPS CAGR

10Y1.1%

5Y7.45%

3Y-14.4%

TTM-16.96%

ROCE

10Y Avg14.81%

5Y Avg15.45%

3Y Avg15.37%

Latest11.68%

Peer Comparison

Global Spirits Giants

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DEODiageo plc	49.67B	89.35	21.07	-0.12%	15.34%	47.26%	5.41%	1.85

Profit & Loss

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Sales/Revenue+	10.48B	12.05B	12.16B	12.87B	11.75B	12.73B	15.45B	20.55B	20.27B	20.25B
Revenue Growth %	-0.03%	0.15%	0.01%	0.06%	-0.09%	0.08%	0.21%	0.33%	-0.01%	-0%
Cost of Goods Sold+	4.25B	4.68B	4.63B	4.87B	4.65B	5.04B	5.97B	8.29B	8.07B	8.07B
COGS % of Revenue	0.41%	0.39%	0.38%	0.38%	0.4%	0.4%	0.39%	0.4%	0.4%	0.4%
Gross Profit+	6.23B	7.37B	7.53B	8B	7.1B	7.7B	9.48B	12.27B	12.2B	12.17B
Gross Margin %	0.59%	0.61%	0.62%	0.62%	0.6%	0.6%	0.61%	0.6%	0.6%	0.6%
Gross Profit Growth %	0%	0.18%	0.02%	0.06%	-0.11%	0.08%	0.23%	0.29%	-0.01%	-0%
Operating Expenses+	3.48B	3.81B	3.84B	3.92B	4.96B	3.96B	5.07B	6.72B	6.2B	7.84B
OpEx % of Revenue	0.33%	0.32%	0.32%	0.3%	0.42%	0.31%	0.33%	0.33%	0.31%	0.39%
Selling, General & Admin	1.56B	1.8B	1.88B	2.04B	1.84B	2.16B	2.72B	3.66B	3.69B	3.66B
SG&A % of Revenue	0.15%	0.15%	0.15%	0.16%	0.16%	0.17%	0.18%	0.18%	0.18%	0.18%
Research & Development	28M	33M	36M	35M	34M	40M	43M	0	0	0
R&D % of Revenue	0%	0%	0%	0%	0%	0%	0%	-	-	-
Other Operating Expenses	123M	20M	1.96B	1.88B	3.12B	1.8B	2.35B	3.06B	2.51B	4.18B
Operating Income+	2.84B	3.56B	3.69B	4.04B	2.14B	3.73B	4.41B	5.55B	6B	4.33B
Operating Margin %	0.27%	0.3%	0.3%	0.31%	0.18%	0.29%	0.29%	0.27%	0.3%	0.21%
Operating Income Growth %	0.02%	0.25%	0.04%	0.1%	-0.47%	0.75%	0.18%	0.26%	0.08%	-0.28%
EBITDA+	3.2B	3.92B	4.06B	4.42B	2.62B	4.18B	4.9B	6.84B	6.49B	6.05B
EBITDA Margin %	0.3%	0.33%	0.33%	0.34%	0.22%	0.33%	0.32%	0.33%	0.32%	0.3%
EBITDA Growth %	-0.01%	0.23%	0.04%	0.09%	-0.41%	0.6%	0.17%	0.4%	-0.05%	-0.07%
D&A (Non-Cash Add-back)	355M	361M	368M	374M	480M	447M	489M	1.3B	493M	1.72B
EBIT	3.1B	3.7B	5.44B	4.4B	3.22B	3.84B	4.45B	6.76B	6.75B	4.64B
Net Interest Income+	-431.14M	-451.45M	-362.15M	-343.43M	-420.52M	-505.16M	-463.86M	-712M	-885M	-866M
Interest Income	156M	148M	155M	248M	241.74M	134M	168.8M	409M	400M	210M
Interest Expense	470M	459M	409M	506M	662.26M	496M	632.66M	1.12B	1.28B	1.1B
Other Income/Expense	-934.15M	-1.07B	-1.09B	-887.36M	-115.7M	-25M	-73.58M	95M	-541M	-798M
Pretax Income+	2.86B	3.56B	3.74B	4.24B	2.04B	3.71B	4.39B	5.64B	5.46B	3.54B
Pretax Margin %	0.27%	0.3%	0.31%	0.33%	0.17%	0.29%	0.28%	0.27%	0.27%	0.17%
Income Tax+	496M	732M	596M	898M	589M	907M	1.05B	1.16B	1.29B	999M
Effective Tax Rate %	0.79%	0.75%	0.81%	0.75%	0.85%	0.72%	0.9%	0.79%	0.71%	0.67%
Net Income+	2.24B	2.66B	3.02B	3.16B	1.73B	2.66B	3.94B	4.45B	3.87B	2.35B
Net Margin %	0.21%	0.22%	0.25%	0.25%	0.15%	0.21%	0.26%	0.22%	0.19%	0.12%
Net Income Growth %	-0.06%	0.19%	0.14%	0.05%	-0.45%	0.53%	0.48%	0.13%	-0.13%	-0.39%
Net Income (Continuing)	2.36B	2.83B	3.14B	3.34B	1.79B	2.8B	4.05B	4.48B	4.17B	2.54B
Discontinued Operations	0	-55M	0	0	-617.71M	0	-838.25M	0	0	0
Minority Interest	1.65B	1.72B	1.76B	1.79B	1.67B	1.53B	1.72B	1.85B	2.04B	2.09B
EPS (Diluted)+	3.56	4.24	4.84	5.20	2.96	4.52	6.76	7.84	6.92	4.24
EPS Growth %	-0.06%	0.19%	0.14%	0.07%	-0.43%	0.53%	0.5%	0.16%	-0.12%	-0.39%
EPS (Basic)	3.56	4.24	4.88	5.24	2.96	4.56	6.80	7.84	6.92	4.24
Diluted Shares Outstanding	629.5M	630.75M	623.75M	607M	588.5M	586.25M	581.25M	567.75M	559.75M	557M
Basic Shares Outstanding	627M	628M	621M	604.5M	586.5M	584.25M	579.5M	566M	558.5M	555.5M
Dividend Payout Ratio	0.64%	0.57%	0.52%	0.51%	0.95%	0.62%	0.53%	0.46%	0.58%	0.98%

Balance Sheet

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Total Current Assets+	8.85B	8.65B	8.69B	9.37B	11.47B	11.45B	12.93B	15.62B	15.13B	17.5B
Cash & Short-Term Investments	1.58B	1.27B	909M	1.06B	3.4B	2.87B	2.54B	1.81B	1.13B	2.65B
Cash Only	1.09B	1.19B	874M	932M	3.32B	2.75B	2.29B	1.81B	1.13B	2.2B
Short-Term Investments	495M	81M	35M	127M	75M	121M	251M	0	0	447M
Accounts Receivable	2.69B	2.43B	3.13B	2.99B	2.17B	2.79B	2.79B	3.72B	3.79B	3.13B
Days Sales Outstanding	93.5	73.7	94.04	84.84	67.36	80.1	65.95	66.04	68.27	56.41
Inventory	4.58B	4.79B	5.01B	5.47B	5.77B	6.04B	7.09B	9.65B	9.72B	10.66B
Days Inventory Outstanding	393.16	373.42	395.01	410.46	452.68	437.96	433.5	425.06	439.57	481.93
Other Current Assets	692M	360M	468M	468M	648M	634M	222M	437M	485M	930M
Total Non-Current Assets+	19.64B	20.2B	21.02B	21.92B	21.84B	20.51B	23.58B	29.26B	30.35B	31.82B
Property, Plant & Equipment	3.88B	4.01B	4.09B	4.46B	4.93B	4.85B	5.85B	7.74B	8.51B	9.53B
Fixed Asset Turnover	2.70x	3.00x	2.97x	2.89x	2.39x	2.63x	2.64x	2.66x	2.38x	2.12x
Goodwill	2.7B	2.72B	2.68B	2.68B	1.91B	1.96B	2.29B	0	0	2.95B
Intangible Assets	9.67B	9.84B	9.89B	9.88B	9.39B	8.81B	9.62B	14.51B	14.81B	11.83B
Long-Term Investments	2.98B	3.12B	3.2B	3.5B	4.21B	3.55B	3.78B	4.9B	5.13B	6.03B
Other Non-Current Assets	111M	360M	1.04B	1.27B	1.28B	1.24B	1.94B	1.94B	1.76B	1.34B
Total Assets+	28.49B	28.85B	29.71B	31.3B	33.31B	31.95B	36.52B	44.88B	45.47B	49.32B
Asset Turnover	0.37x	0.42x	0.41x	0.41x	0.35x	0.40x	0.42x	0.46x	0.45x	0.41x
Asset Growth %	0.1%	0.01%	0.03%	0.05%	0.06%	-0.04%	0.14%	0.23%	0.01%	0.08%
Total Current Liabilities+	6.19B	6.66B	6.36B	7B	6.5B	7.14B	8.44B	9.59B	9.87B	10.71B
Accounts Payable	916M	1.36B	1.51B	1.69B	1.33B	2.01B	884.18M	6.68B	6.35B	3.12B
Days Payables Outstanding	78.65	106.46	119.25	127.07	104.54	145.91	54.03	294.06	287.35	141.22
Short-Term Debt	2.06B	2.46B	1.83B	1.96B	2B	1.86B	1.85B	2.14B	2.88B	2.93B
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0	0	0
Other Current Liabilities	1.75B	-589.01M	-1.35B	-1.26B	1.16B	1.25B	5.26B	603M	493M	2.52B
Current Ratio	1.43x	1.30x	1.37x	1.34x	1.77x	1.60x	1.53x	1.63x	1.53x	1.63x
Quick Ratio	0.69x	0.58x	0.58x	0.56x	0.88x	0.76x	0.69x	0.62x	0.55x	0.64x
Cash Conversion Cycle	408.02	340.66	369.8	368.23	415.5	372.14	445.42	197.04	220.49	397.13
Total Non-Current Liabilities+	12.12B	10.16B	11.64B	14.14B	18.37B	16.38B	18.56B	23.58B	23.54B	25.43B
Long-Term Debt	8.07B	6.58B	8.14B	10.6B	14.79B	12.96B	14.5B	18.65B	18.62B	20.82B
Capital Lease Obligations	213M	157M	124M	85M	364M	281M	473.03M	0	0	541M
Deferred Tax Liabilities	1.98B	2.11B	1.99B	2.03B	1.97B	1.95B	2.32B	2.75B	2.95B	2.94B
Other Non-Current Liabilities	3.84B	3.42B	3.37B	3.46B	1.25B	1.2B	1.27B	2.18B	1.97B	1.13B
Total Liabilities	18.31B	16.82B	18B	21.14B	24.87B	23.52B	27B	33.17B	33.4B	36.14B
Total Debt+	10.13B	9.04B	9.9B	12.55B	16.79B	14.73B	16.02B	20.79B	21.5B	24.4B
Net Debt	9.04B	7.85B	9.03B	11.62B	13.46B	11.98B	13.73B	18.98B	20.37B	22.2B
Debt / Equity	0.99x	0.75x	0.85x	1.24x	1.99x	1.75x	1.68x	1.78x	1.78x	1.85x
Debt / EBITDA	3.17x	2.31x	2.44x	2.84x	6.41x	3.52x	3.27x	3.04x	3.31x	4.03x
Net Debt / EBITDA	2.83x	2.00x	2.22x	2.63x	5.14x	2.87x	2.80x	2.77x	3.14x	3.67x
Interest Coverage	6.04x	7.75x	9.02x	7.99x	3.23x	7.52x	6.97x	4.95x	4.67x	3.93x
Total Equity+	10.18B	12.03B	11.71B	10.16B	8.44B	8.43B	9.51B	11.71B	12.07B	13.18B
Equity Growth %	0.1%	0.18%	-0.03%	-0.13%	-0.17%	-0%	0.13%	0.23%	0.03%	0.09%
Book Value per Share	16.17	19.07	18.78	16.73	14.34	14.38	16.37	20.62	21.56	23.66
Total Shareholders' Equity	8.53B	10.31B	9.95B	8.36B	6.77B	6.9B	7.8B	9.86B	10.03B	11.09B
Common Stock	797M	797M	780M	753M	742M	741M	723M	898M	887M	887M
Retained Earnings	3.76B	5.47B	5.69B	3.89B	4.34B	5.06B	5.39B	6.59B	7.53B	10.27B
Treasury Stock	-2.19B	-2.18B	-2.14B	-2.03B	-1.94B	-1.88B	-2.23B	0	0	-2.23B
Accumulated OCI	2.63B	2.69B	2.13B	2.37B	2.27B	1.62B	2.17B	0	0	0
Minority Interest	1.65B	1.72B	1.76B	1.79B	1.67B	1.53B	1.72B	1.85B	2.04B	2.09B

Cash Flow

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Cash from Operations+	2.55B	3.13B	3.08B	3.25B	2.32B	3.65B	3.94B	5.74B	6.07B	4.3B
Operating CF Margin %	0.24%	0.26%	0.25%	0.25%	0.2%	0.29%	0.25%	0.28%	0.3%	0.21%
Operating CF Growth %	-0%	0.23%	-0.02%	0.05%	-0.29%	0.57%	0.08%	0.46%	0.06%	-0.29%
Net Income	2.36B	2.83B	3.14B	3.34B	1.45B	2.8B	3.34B	4.48B	4.17B	2.54B
Depreciation & Amortization	473M	361M	493M	374M	1.84B	447M	828M	1.3B	493M	1.72B
Stock-Based Compensation	0	0	0	0	3M	50M	65.31M	0	0	0
Deferred Taxes	0	121M	-107M	-14M	-89M	94M	-18M	1.16B	1.29B	0
Other Non-Cash Items	-234M	-207M	-394M	-277M	-559M	-67M	-93M	219M	880M	118M
Working Capital Changes	-53M	151M	-159M	-222M	-328M	331M	-179M	-1.41B	-768M	-77M
Change in Receivables	-86M	89M	-202M	11M	523M	-446M	-378M	142M	-66M	-49M
Change in Inventory	-95M	-159M	-271M	-434M	-366M	-443M	-740M	-810M	-156M	-470M
Change in Payables	128M	221M	314M	201M	-485M	1.22B	939M	-746M	-546M	0
Cash from Investing+	596M	-552M	-1.15B	-270M	-805M	-1.09B	-1.34B	-1.43B	-1.59B	-1.72B
Capital Expenditures	-506M	-518M	-584M	-671M	-700M	-626M	-1.1B	-1.42B	-1.51B	-1.61B
CapEx % of Revenue	0.05%	0.04%	0.05%	0.05%	0.06%	0.05%	0.07%	0.07%	0.07%	0.08%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	55M	-52M	23M	31M	14M	9M	-55M	-44M	-33M	-132M
Cash from Financing+	-2.8B	-2.46B	-2.12B	-2.92B	1.04B	-2.79B	-3.26B	-3.04B	-3.11B	-1.49B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-1.44B	-1.51B	-1.58B	-1.62B	-1.65B	-1.65B	-1.72B	-2.24B	-2.36B	-2.3B
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	290.47M	702.45M	406.48M	125.96M	-173M	302.1M	569.85M	-1.75B	-1.2B	-109M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	2.04B	2.61B	2.5B	2.58B	1.62B	3.03B	2.84B	4.33B	4.55B	2.69B
FCF Margin %	0.19%	0.22%	0.21%	0.2%	0.14%	0.24%	0.18%	0.21%	0.22%	0.13%
FCF Growth %	0.07%	0.28%	-0.04%	0.03%	-0.37%	0.87%	-0.06%	0.52%	0.05%	-0.41%
FCF per Share	3.24	4.14	4.01	4.25	2.75	5.17	4.88	7.62	8.14	4.82
FCF Conversion (FCF/Net Income)	1.14x	1.18x	1.02x	1.03x	1.34x	1.37x	1.00x	1.29x	1.57x	1.83x
Interest Paid	0	0	0	0	0	0	0	822M	1.02B	0
Taxes Paid	0	0	0	0	0	0	0	1.44B	1.1B	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	23.09%	23.97%	25.46%	28.9%	18.65%	31.53%	43.92%	41.89%	32.55%	18.65%
Return on Invested Capital (ROIC)	11.26%	13.65%	13.63%	14.26%	7.34%	13.23%	15.15%	15.43%	14.26%	9.59%
Gross Margin	59.46%	61.16%	61.9%	62.18%	60.4%	60.43%	61.34%	59.67%	60.18%	60.13%
Net Margin	21.4%	22.09%	24.85%	24.56%	14.76%	20.89%	25.5%	21.62%	19.09%	11.63%
Debt / Equity	0.99x	0.75x	0.85x	1.24x	1.99x	1.75x	1.68x	1.78x	1.78x	1.85x
Interest Coverage	6.04x	7.75x	9.02x	7.99x	3.23x	7.52x	6.97x	4.95x	4.67x	3.93x
FCF Conversion	1.14x	1.18x	1.02x	1.03x	1.34x	1.37x	1.00x	1.29x	1.57x	1.83x
Revenue Growth	-3.03%	14.93%	0.94%	5.79%	-8.67%	8.35%	21.35%	33.02%	-1.39%	-0.12%

Revenue by Segment

	2019	2020	2021	2022	2023	2024	2025
Spirits	15.28B	14.16B	15.63B	18.16B	19B	22.41B	22.17B
Spirits Growth	-	-7.36%	10.43%	16.18%	4.62%	17.90%	-1.07%
Beer	2.76B	2.34B	2.56B	3.13B	3.35B	4.11B	4.49B
Beer Growth	-	-15.08%	9.39%	22.09%	7.26%	22.41%	9.40%
Ready To Drink	945M	966M	741M	882M	899M	949M	989M
Ready To Drink Growth	-	2.22%	-23.29%	19.03%	1.93%	5.56%	4.21%
Other Product	230M	231M	216M	274M	257M	429M	316M
Other Product Growth	-	0.43%	-6.49%	26.85%	-6.20%	66.93%	-26.34%
Wine	78M	-	-	-	-	-	-
Wine Growth	-	-	-	-	-	-	-

Revenue by Geography

	2019	2020	2021	2022	2023	2024	2025
Rest Of World	-	-	-	10.67B	11.65B	13.75B	13.6B
Rest Of World Growth	-	-	-	-	9.21%	18.02%	-1.09%
UNITED STATES	-	-	-	6.33B	6.97B	8.04B	8.14B
UNITED STATES Growth	-	-	-	-	10.19%	15.33%	1.21%
INDIA	3.24B	-	-	3.22B	2.75B	3.25B	3.23B
INDIA Growth	-	-	-	-	-14.54%	18.03%	-0.43%
UNITED KINGDOM	-	-	-	-	-	-	2.99B
UNITED KINGDOM Growth	-	-	-	-	-	-	-
NETHERLANDS	-	-	-	89M	-	-	-
NETHERLANDS Growth	-	-	-	-	-	-	-
VENEZUELA	-	3M	4M	-	-	-	-
VENEZUELA Growth	-	-	33.33%	-	-	-	-

Frequently Asked Questions

Valuation & Price

Diageo plc (DEO) has a price-to-earnings (P/E) ratio of 21.1x. This is roughly in line with market averages.

Growth & Financials

Diageo plc (DEO) reported $40.59B in revenue for fiscal year 2025. This represents a 277% increase from $10.76B in 2012.

Diageo plc (DEO) saw revenue decline by 0.1% over the past year.

Yes, Diageo plc (DEO) is profitable, generating $6.23B in net income for fiscal year 2025 (11.6% net margin).

Dividend & Returns

Yes, Diageo plc (DEO) pays a dividend with a yield of 4.62%. This makes it attractive for income-focused investors.

Diageo plc (DEO) has a return on equity (ROE) of 18.6%. This is reasonable for most industries.

Diageo plc (DEO) generated $8.15B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

...