Diageo Financials
Diageo (DEO) reported $28.0B in revenue for fiscal year 2025, up 0.3% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Stable sales are still throwing off cash, but FY2025 exposed a sharp drop in reported earnings efficiency.
Across the last three fiscal years, revenue stayed near$28B while operating cash flow returned to$4.3B . Yet net income fell to$2.5B from about$4.5B , which means cash conversion held up better than reported earnings and the pressure showed up more in accounting profit than in cash collected from the business.
Reported debt-to-equity was only 0.04x and long-term debt just
Inventory rose to
Financial Health Signals
Diageo does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Diageo passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Diageo generates $1.69 in operating cash flow ($4.3B OCF vs $2.5B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Diageo generated $28.0B in revenue in fiscal year 2025. This represents an increase of 0.3% from the prior year.
Diageo reported $2.5B in net income in fiscal year 2025. This represents a decrease of 39.1% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Diageo held $2.2B in cash against $541.0M in long-term debt as of fiscal year 2025, with $10.7B of liabilities due within a year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Diageo's net profit margin was 9.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 5.9 percentage points from the prior year.
Diageo's ROE was 19.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 15.3 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
None of these metrics is reported for fiscal year 2025.
DEO Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|
| Revenue | $28.0B+0.3% | $27.9B-1.3% | $28.3B-5.0% | $29.8B |
| Interest Expense | $32.0M+39.1% | $23.0M+21.1% | $19.0M+18.8% | $16.0M |
| Income Tax | $999.0M-22.8% | $1.3B+11.3% | $1.2B-16.8% | $1.4B |
| Net Income | $2.5B-39.1% | $4.2B-7.0% | $4.5B+1.6% | $4.4B |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EPS (Diluted).
DEO Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|
| Total Assets | $49.3B+8.5% | $45.5B+1.3% | $44.9B+1.6% | $44.2B |
| Current Assets | $17.5B+15.7% | $15.1B-3.2% | $15.6B-0.2% | $15.7B |
| Cash & Equivalents | $2.2B+94.7% | $1.1B-37.7% | $1.8B-34.4% | $2.8B |
| Inventory | $10.7B+9.7% | $9.7B+0.7% | $9.7B+12.5% | $8.6B |
| Accounts Receivable | $3.5B+0.5% | $3.5B+1.8% | $3.4B-3.4% | $3.5B |
| Goodwill | $2.9B+3.1% | $2.9B+1.9% | $2.8B-80.5% | $14.4B |
| Total Liabilities | $36.1B+8.2% | $33.4B+0.7% | $33.2B+1.5% | $32.7B |
| Current Liabilities | $10.7B+8.6% | $9.9B+2.9% | $9.6B-6.1% | $10.2B |
| Long-Term Debt | $541.0M+6.3% | $509.0M+8.3% | $470.0M-97.3% | $17.1B |
| Total Equity | $13.2B+9.2% | $12.1B+3.1% | $11.7B+1.7% | $11.5B |
| Retained Earnings | $8.0B+6.8% | $7.5B+14.3% | $6.6B+5.2% | $6.3B |
DEO Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|
| Operating Cash Flow | $4.3B+4.7% | $4.1B+12.9% | $3.6B-30.3% | $5.2B |
| Investing Cash Flow | -$1.7B-7.8% | -$1.6B-11.9% | -$1.4B+20.4% | -$1.8B |
| Financing Cash Flow | -$1.5B+51.9% | -$3.1B-2.1% | -$3.0B+30.5% | -$4.4B |
| Dividends Paid | $2.3B+2.5% | $2.2B+8.6% | $2.1B-10.2% | $2.3B |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Share Buybacks.
DEO Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|
| Net Margin | 9.1%-5.9pp | 14.9%-0.9pp | 15.8%+1.0pp | 14.8% |
| Return on Equity | 19.3%-15.3pp | 34.5%-3.7pp | 38.3%-0.1pp | 38.3% |
| Return on Assets | 5.1%-4.0pp | 9.2%-0.8pp | 10.0%0.0pp | 10.0% |
| Current Ratio | 1.63+0.1x | 1.53-0.1x | 1.63+0.1x | 1.53 |
| Debt-to-Equity | 0.040.0x | 0.040.0x | 0.04-1.4x | 1.49 |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, FCF Margin.
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Where Diageo Ranks
Frequently Asked Questions
What is Diageo's annual revenue?
Diageo (DEO) reported $28.0B in total revenue for fiscal year 2025. This represents a 0.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Diageo's revenue growing?
Diageo (DEO) revenue grew by 0.3% year-over-year, from $27.9B to $28.0B in fiscal year 2025.
Is Diageo profitable?
Yes, Diageo (DEO) reported a net income of $2.5B in fiscal year 2025, with a net profit margin of 9.1%.
How much debt does Diageo have?
As of fiscal year 2025, Diageo (DEO) had $2.2B in cash and equivalents against $541.0M in long-term debt.
What is Diageo's net profit margin?
Diageo (DEO) had a net profit margin of 9.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Diageo's return on equity (ROE)?
Diageo (DEO) has a return on equity of 19.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Diageo's operating cash flow?
Diageo (DEO) generated $4.3B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Diageo's total assets?
Diageo (DEO) had $49.3B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Diageo's current ratio?
Diageo (DEO) had a current ratio of 1.63 as of fiscal year 2025, which is generally considered healthy.
What is Diageo's debt-to-equity ratio?
Diageo (DEO) had a debt-to-equity ratio of 0.04 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Diageo's return on assets (ROA)?
Diageo (DEO) had a return on assets of 5.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Diageo's Piotroski F-Score?
Diageo (DEO) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Diageo's earnings high quality?
Diageo (DEO) has an earnings quality ratio of 1.69x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.