Diageo plc (DGEAF) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 30, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2026, filed Aug 18, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the DGEAF SEC filings page.
Diageo plc (DGEAF) reported $27.8B in revenue for fiscal year 2026, down 0.7% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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 (20-F and 6-K reports).
Revenue is nearly flat while operating profit has contracted sharply, with rising noncash charges separating reported earnings from cash generation.
In FY2026, operating income fell27.2% while depreciation and amortization rose44.4% ; EBITDA fell only6.9% , indicating that increased noncash expense explains part of the reported-profit deterioration. Cash conversion diverged further: operating cash flow rose2.2% as net income fell22.9% , producing operating cash flow equal to224.3% of net income.
Revenue fell
The balance sheet remains debt-supported: liabilities were
Financial Health Signals
We do not publish a peer-relative financial health score for Diageo plc, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
Diageo plc scores 2.16, placing it in the grey zone between 1.81 and 2.99. The largest contribution to the score comes from a market capitalization of $52.7B against total liabilities of $33.9B. This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Diageo plc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 operating efficiency signals passes.
For every $1 of reported earnings, Diageo plc generates $2.24 in operating cash flow ($4.4B OCF vs $2.0B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Diageo plc earns $2.90 in operating income for every $1 of interest expense ($3.2B vs $1.1B). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
Diageo plc generated $27.8B in revenue in fiscal year 2026. This represents a decrease of 0.7% from the prior year.
Diageo plc's EBITDA was $5.6B in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 6.9% from the prior year.
Diageo plc reported $2.0B in net income in fiscal year 2026. This represents a decrease of 22.9% from the prior year.
Diageo plc earned $0.78 per diluted share (EPS) in fiscal year 2026. This represents a decrease of 26.3% from the prior year.
Cash & Balance Sheet
Diageo plc held $1.5B in cash against $18.0B in long-term debt as of fiscal year 2026.
Not reported for fiscal year 2026.
Not reported for fiscal year 2026.
Margins & Returns
Diageo plc's gross margin was 42.1% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is down 1.5 percentage points from the prior year.
Diageo plc's operating margin was 11.4% in fiscal year 2026, reflecting core business profitability. This is down 4.1 percentage points from the prior year.
Diageo plc's net profit margin was 7.0% in fiscal year 2026, showing the share of revenue converted to profit. This is down 2.0 percentage points from the prior year.
Diageo plc's ROE was 18.0% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is down 4.9 percentage points from the prior year.
Capital Allocation
Diageo plc invested $71.0M in research and development in fiscal year 2026. This represents a decrease of 4.1% from the prior year.
Not reported for fiscal year 2026.
Not reported for fiscal year 2026.
DGEAF Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2620-F | FY2520-F | FY2420-F | FY2320-F | FY2220-F |
|---|---|---|---|---|---|
| Revenue | $27.8B-0.7% | $28.0B+0.3% | $27.9B-1.3% | $28.3B-5.0% | $29.8B |
| Cost of Revenue | $8.0B-1.4% | $8.1B0.0% | $8.1B-2.6% | $8.3B+4.6% | $7.9B |
| Gross Profit | $11.7B-4.0% | $12.2B-0.2% | $12.2B-0.6% | $12.3B-2.6% | $12.6B |
| R&D Expenses | $71.0M-4.1% | $74.0M+7.2% | $69.0M+9.5% | $63.0M+8.6% | $58.0M |
| Operating Income | $3.2B-27.2% | $4.3B-27.8% | $6.0B+8.2% | $5.5B-5.9% | $5.9B |
| EBITDA | $5.6B-6.9% | $6.1B-6.8% | $6.5B-5.1% | $6.8B-1.7% | $7.0B |
| Interest Expense | $1.1B-5.0% | $1.1B-3.4% | $1.2B+15.0% | $1.0B-5.6% | $1.1B |
| Income Tax | $606.0M-39.3% | $999.0M-22.8% | $1.3B+11.3% | $1.2B-16.8% | $1.4B |
| Net Income | $2.0B-22.9% | $2.5B-39.1% | $4.2B-7.0% | $4.5B+1.6% | $4.4B |
| EPS (Basic) | $0.78-26.3% | $1.06-38.9% | $1.73-11.8% | $1.96+6.3% | $1.85 |
| EPS (Diluted) | $0.78-26.3% | $1.06-38.8% | $1.73-11.7% | $1.96+6.3% | $1.84 |
| Diluted Shares (Avg) | 2.23B+0.1% | 2.23B-0.5% | 2.24B-1.4% | 2.27B-2.3% | 2.33B |
Not reported in any period shown, so not listed: SG&A Expenses.
DGEAF Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2620-F | FY2520-F | FY2420-F | FY2320-F | FY2220-F |
|---|---|---|---|---|---|
| Total Assets | $46.8B-5.0% | $49.3B+8.5% | $45.5B+1.3% | $44.9B+1.6% | $44.2B |
| Current Assets | $17.2B-1.6% | $17.5B+15.7% | $15.1B-3.2% | $15.6B-0.2% | $15.7B |
| Cash & Equivalents | $1.5B-30.9% | $2.2B+94.7% | $1.1B-37.7% | $1.8B-34.4% | $2.8B |
| Inventory | $10.5B-1.2% | $10.7B+9.7% | $9.7B+0.7% | $9.7B+12.5% | $8.6B |
| Accounts Receivable | $3.3B-6.5% | $3.5B+0.5% | $3.5B+1.8% | $3.4B-3.4% | $3.5B |
| Goodwill | $2.4B-17.4% | $2.9B+3.1% | $2.9B+1.9% | $2.8B-80.5% | $14.4B |
| Total Liabilities | $33.9B-6.2% | $36.1B+8.2% | $33.4B+0.7% | $33.2B+1.5% | $32.7B |
| Current Liabilities | $10.7B+0.2% | $10.7B+8.6% | $9.9B+2.9% | $9.6B-6.1% | $10.2B |
| Non-Current Liabilities | $23.2B-8.9% | $25.4B+8.1% | $23.5B-0.2% | $23.6B+5.0% | $22.5B |
| Long-Term Debt | $18.0B-4.7% | $18.9B+4.4% | $18.1B+4.0% | $17.4B+14.2% | $15.3B |
| Total Equity | $10.9B-2.0% | $11.1B+10.5% | $10.0B+1.8% | $9.9B+4.5% | $9.4B |
| Retained Earnings | $8.3B+3.0% | $8.0B+6.8% | $7.5B+14.3% | $6.6B+5.2% | $6.3B |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments.
DGEAF Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2620-F | FY2520-F | FY2420-F | FY2320-F | FY2220-F |
|---|---|---|---|---|---|
| Operating Cash Flow | $4.4B+2.2% | $4.3B+4.7% | $4.1B+12.9% | $3.6B-30.3% | $5.2B |
| Depreciation & Amortization | $2.5B+44.4% | $1.7B+248.5% | $493.0M-62.0% | $1.3B+21.9% | $1.1B |
| Investing Cash Flow | -$982.0Mn/m | -$1.7Bn/m | -$1.6Bn/m | -$1.4Bn/m | -$1.8B |
| Financing Cash Flow | -$3.8Bn/m | -$1.5Bn/m | -$3.1Bn/m | -$3.0Bn/m | -$4.4B |
| Dividends Paid | $1.8B-19.7% | $2.3B+2.5% | $2.2B+8.6% | $2.1B-10.2% | $2.3B |
Not reported in any period shown, so not listed: Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Share Buybacks.
DGEAF Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2620-F | FY2520-F | FY2420-F | FY2320-F | FY2220-F |
|---|---|---|---|---|---|
| Gross Margin | 42.1%-1.5pp | 43.5%-0.2pp | 43.7%+0.3pp | 43.4%+1.1pp | 42.3% |
| Operating Margin | 11.4%-4.1pp | 15.5%-6.0pp | 21.5%+1.9pp | 19.6%-0.2pp | 19.8% |
| Net Margin | 7.0%-2.0pp | 9.1%-5.9pp | 14.9%-0.9pp | 15.8%+1.0pp | 14.8% |
| Return on Equity | 18.0%-4.9pp | 22.9%-18.6pp | 41.5%-3.9pp | 45.4%-1.3pp | 46.7% |
| Return on Assets | 4.2%-1.0pp | 5.1%-4.0pp | 9.2%-0.8pp | 10.0%0.0pp | 10.0% |
| Current Ratio | 1.600.0x | 1.63+0.1x | 1.53-0.1x | 1.63+0.1x | 1.53 |
| Debt-to-Equity | 1.660.0x | 1.71-0.1x | 1.810.0x | 1.77+0.2x | 1.62 |
| Liabilities-to-Equity | 3.12-0.1x | 3.26-0.1x | 3.330.0x | 3.37-0.1x | 3.46 |
| Asset Turnover | 0.590.0x | 0.570.0x | 0.610.0x | 0.630.0x | 0.67 |
Not reported in any period shown, so not listed: FCF Margin.
Where Diageo plc Ranks
Frequently Asked Questions
Diageo plc (DGEAF) reported $27.8B in total revenue for fiscal year 2026. This represents a -0.7% 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.
Diageo plc (DGEAF) revenue declined by 0.7% year-over-year, from $28.0B to $27.8B in fiscal year 2026.
Yes, Diageo plc (DGEAF) reported a net income of $2.0B in fiscal year 2026, with a net profit margin of 7.0%.
Diageo plc (DGEAF) had EBITDA of $5.6B in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.
As of fiscal year 2026, Diageo plc (DGEAF) had $1.5B in cash and equivalents against $18.0B in long-term debt.
Diageo plc (DGEAF) had a gross margin of 42.1% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.
Diageo plc (DGEAF) had an operating margin of 11.4% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.
Diageo plc (DGEAF) had a net profit margin of 7.0% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.
Diageo plc (DGEAF) has a return on equity of 18.0% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
Diageo plc (DGEAF) generated $4.4B in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
Diageo plc (DGEAF) had $46.8B in total assets as of fiscal year 2026, including both current and long-term assets.
Diageo plc (DGEAF) invested $71.0M in research and development during fiscal year 2026.
Diageo plc (DGEAF) had a current ratio of 1.60 as of fiscal year 2026, which is generally considered healthy.
Diageo plc (DGEAF) had a debt-to-equity ratio of 1.66 as of fiscal year 2026. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
Diageo plc (DGEAF) had a liabilities-to-equity ratio of 3.12 as of fiscal year 2026, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
Diageo plc (DGEAF) had a return on assets of 4.2% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
Diageo plc (DGEAF) trades at 26.9x earnings, its market capitalization divided by $2.0B net income, FY2026. The market capitalization is $52.7B as of Oct 30, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Diageo plc (DGEAF) trades at 1.9x sales, its market capitalization divided by $27.8B revenue, FY2026. The market capitalization is $52.7B as of Oct 30, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Diageo plc (DGEAF) has an Altman Z-Score of 2.16, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
Diageo plc (DGEAF) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. 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.
Diageo plc (DGEAF) has an earnings quality ratio of 2.24x, 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.
Diageo plc (DGEAF) has an interest coverage ratio of 2.90x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.