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DEO

Diageo plc

DEO

Diageo plc • NYSE
$91.63 ▲ 1.09% (+0.98)
Market Cap $50.91 B
52w High $132.34
52w Low $86.57
Dividend Yield 4.10%
P/E 21.71
Volume 882.55K
Outstanding Shares 555.63M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2025 $9.424B ▼ $3.314B ▼ $422.602M ▼ 4.484% ▼ $0.76 ▼ $1.545B ▼
Q2-2025 $10.901B ▲ $3.583B ▲ $1.935B ▲ 17.751% ▼ $3.48 ▼ $3.383B ▲
Q4-2024 $9.307B ▼ $2.793B ▼ $1.66B ▼ 17.836% ▼ $3.76 ▲ $3.03B ▼
Q2-2024 $10.962B ▲ $3.404B ▼ $2.21B ▲ 20.161% ▲ $3.16 ▲ $4.208B ▲
Q4-2023 $9.435B $3.609B $1.736B 18.4% $3.08 $3.394B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2025 $2.647B ▲ $49.322B ▲ $36.144B ▲ $11.09B ▲
Q2-2025 $1.656B ▲ $46.946B ▲ $34.541B ▲ $10.284B ▲
Q4-2024 $1.13B ▼ $45.474B ▼ $33.404B ▼ $10.032B ▲
Q2-2024 $1.529B ▼ $46.765B ▲ $35.041B ▲ $9.791B ▼
Q4-2023 $1.813B $44.883B $33.174B $9.856B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2025 $422.602M ▼ $2.008B ▼ $-1.112B ▼ $-398.147M ▲ $544M ▲ $1.014B ▼
Q2-2025 $2.075B ▲ $2.326B ▼ $-632.355M ▲ $-1.1B ▲ $526M ▲ $2.583B ▼
Q4-2024 $1.824B ▼ $3.919B ▲ $-875M ▼ $-1.439B ▲ $-373M ▼ $2.991B ▲
Q2-2024 $2.342B ▲ $2.146B ▼ $-720M ▲ $-1.667B ▲ $-286M ▲ $1.564B ▼
Q4-2023 $1.638B $3.306B $-862M $-2.766B $-1.458B $2.403B

Revenue by Products

Product Q2-2022Q4-2022Q2-2023Q4-2023
Beer
Beer
 $1.52Bn ▲$1.61Bn ▲$1.70Bn ▲$1.65Bn ▼
Other Product
Other Product
 $140.00M ▲$140.00M ▲$110.00M ▼$140.00M ▲
Ready To Drink
Ready To Drink
 $420.00M ▲$460.00M ▲$480.00M ▲$420.00M ▼
Spirits
Spirits
 $9.68Bn ▲$8.48Bn ▼$10.93Bn ▲$8.08Bn ▼

Five-Year Company Overview

Income Statement

Income Statement Revenue has stabilized at a high level after a strong rebound from the pandemic years, but profit trends are less encouraging. Gross profit has been steady, yet operating profit, EBITDA, and net income have all slipped from their recent peaks. This points to margin pressure: costs, mix, or weaker volumes are eating into profitability even though overall sales are holding up. Earnings per share show the same pattern, with a clear downtrend over the last three years. In short, Diageo is still a large, profitable franchise, but recent years show it working harder to convert sales into bottom‑line profit.

Balance Sheet

Balance Sheet The balance sheet shows a larger, more asset‑heavy company than a few years ago, backed by gradually rising equity but also notably higher debt. Total assets have expanded steadily, suggesting ongoing investment in brands, production, and distribution. However, debt has grown faster than equity, which means leverage has increased. Cash on hand moves around year to year but does not fully offset the higher borrowings. The balance sheet remains substantial, but the direction of travel is towards more debt reliance, which raises sensitivity to interest rates and economic downturns.

Cash Flow

Cash Flow Cash generation from the core business is a clear strength: operating cash flow has been robust for several years, with healthy free cash flow after investment. That said, both operating and free cash flow have eased back from their peak levels, echoing the profit pressure seen in the income statement. Capital spending has been ticking up over time, indicating deliberate reinvestment in capacity, brands, and systems. Overall, Diageo is still comfortably funding its investments and shareholder returns from internal cash, but with less headroom than in its best recent year.

Competitive Edge

Competitive Edge Diageo’s competitive position is anchored in a powerful, diversified brand portfolio and a truly global distribution footprint. Its leading labels in whisky, vodka, gin, tequila, beer, and other categories give it broad exposure to drinking occasions, price points, and geographies. This diversification helps smooth out local issues and shifting consumer preferences. The company is also positioned at the higher end of the market, leaning into premium and luxury spirits where brand strength and pricing power are greatest. Against global peers, Diageo stands out for the breadth of its categories, its reach into almost every major market, and its ability to support brands with large‑scale marketing and trade relationships. Key risks are continued competition from other multinationals, fast‑moving local and craft players, and regulatory or tax changes in key markets.

Innovation and R&D

Innovation and R&D Innovation at Diageo is less about lab‑style R&D and more about new products, formats, and ways of reaching consumers. The company is pushing hard into digital: e‑commerce partnerships, direct‑to‑consumer channels, data‑driven marketing, and AI tools for both consumers and internal decision‑making. It is also investing in sustainable agriculture, smarter supply chains, and lower‑impact packaging, including trials of paper and refillable formats. On the product side, Diageo is active in high‑growth niches such as craft‑style offerings, premium tequila, and especially low and non‑alcoholic drinks, where it is building a portfolio ahead of many rivals. A dedicated “breakthrough innovation” team and a focus on experiential, luxury retail show that management is treating innovation as a core growth lever, not a side project.

Summary

Diageo today looks like a mature global leader with strong brands and reach, but also clear near‑term pressure on profitability and cash margins. Sales are solid at a high base, yet earnings and cash flow have slipped from their best levels, while leverage has crept up as the company has expanded and invested. Its long‑term strengths—iconic brands, premium positioning, wide category coverage, and global distribution—remain intact and are being reinforced by digital initiatives, sustainability efforts, and product innovation in areas like low/no alcohol. The main watchpoints are: restoring profit growth and margins, managing higher debt in a changing rate environment, and staying ahead of shifting consumer tastes and regulation. Overall, the story is one of a powerful franchise navigating a tougher phase in its financial performance while continuing to invest for future growth.

NEWS

November 12, 2025 · 1:08 PM UTC

THE FUTURE OF WORLD CLASS IS HERE: DIAGEO PARTNERS WITH TALES OF THE COCKTAIL FOUNDATION TO SHAPE AMERICAN BARTENDING EXCELLENCE

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November 10, 2025 · 2:00 AM UTC

Sir Dave Lewis Appointed Diageo plc CEO

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November 6, 2025 · 2:00 AM UTC

Diageo PLC Issues Fiscal 26 Q1 Trading Statement

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September 4, 2025 · 9:00 AM UTC

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