Constellation Brands, Inc.

STZ · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986
Valuation
Market cap	$27,375	$31,718	$45,429	$41,272	$40,439	$40,148	$32,319	$31,715	$40,399	$29,775	$26,516	$21,508	$15,246	$8,060	$4,462	$4,286	$3,355	$2,840	$4,206	$5,368	$5,816	$5,770	$3,186	$2,214	$2,324	$1,172	$889	$909	$1,041	$594	$738	$481	$267	$143	$102	$48	$48	$40	$74	$158	$163
Enterprise value	$38,779	$44,016	$58,155	$54,419	$51,510	$51,000	$45,325	$45,524	$50,512	$38,829	$34,646	$28,805	$22,203	$11,034	$7,506	$7,513	$7,147	$7,261	$9,443	$9,520	$8,615	$9,041	$5,197	$3,466	$3,745	$2,392	$2,173	$1,807	$1,465	$1,020	$1,214	$819	$392	$203	$158	$111	$105	$90	$127	$161	$162
P/E (TTM) at period end	16.23×	–	26.30×	–	–	22.59×	–	10.40×	19.71×	21.82×	28.21×	28.85×	7.85×	20.78×	10.03×	7.66×	33.78×	–	–	16.17×	17.88×	20.87×	14.46×	10.89×	17.04×	12.04×	11.49×	18.00×	20.78×	21.44×	223.53×	41.12×	17.11×	12.52×	13.24×	10.87×	19.81×	–	–	14.94×	17.16×
P/S (TTM) at period end	3.00×	3.11×	4.56×	4.37×	4.58×	4.66×	3.87×	3.91×	5.33×	4.07×	4.05×	3.57×	3.13×	2.88×	1.68×	1.29×	1.00×	0.78×	1.11×	1.03×	1.26×	1.41×	0.90×	0.81×	0.82×	0.49×	0.38×	0.61×	0.86×	0.52×	1.38×	0.76×	0.87×	0.58×	0.58×	0.27×	0.29×	0.24×	0.43×	0.91×	1.22×
P/B at period end	3.39×	4.61×	4.66×	4.91×	3.45×	2.95×	2.66×	2.53×	5.07×	4.32×	4.04×	3.73×	3.06×	2.82×	1.67×	1.68×	1.30×	1.49×	1.52×	1.57×	1.95×	2.08×	1.34×	1.88×	2.43×	1.90×	1.71×	2.09×	2.51×	1.63×	2.07×	2.36×	2.12×	1.49×	1.96×	1.01×	1.11×	0.89×	1.52×	2.71×	3.40×
EV / EBITDA (TTM)	12.35×	54.98×	16.17×	16.87×	19.30×	16.53×	18.27×	16.58×	19.63×	14.78×	17.81×	17.33×	8.61×	17.48×	12.83×	12.08×	15.29×	41.92×	13.64×	10.36×	10.25×	12.72×	8.82×	7.45×	8.74×	7.00×	7.11×	9.64×	9.74×	8.97×	30.13×	16.12×	10.11×	6.73×	7.61×	7.14×	8.43×	–	–	–	–
EV / Sales (TTM)	4.24×	4.31×	5.84×	5.76×	5.84×	5.92×	5.43×	5.61×	6.66×	5.30×	5.29×	4.78×	4.56×	3.95×	2.83×	2.25×	2.12×	1.99×	2.50×	1.82×	1.87×	2.21×	1.46×	1.27×	1.33×	1.00×	0.93×	1.21×	1.21×	0.90×	2.27×	1.30×	1.28×	0.83×	0.90×	0.62×	0.64×	0.55×	0.74×	0.93×	1.21×
Returns
Return on equity	20.9%	(1.2%)	17.7%	(0.3%)	(0.3%)	13.1%	(0.1%)	24.3%	25.7%	19.8%	14.3%	12.9%	39.0%	13.6%	16.6%	21.9%	3.9%	(15.8%)	(22.2%)	9.7%	10.9%	9.9%	9.3%	17.3%	14.3%	15.8%	14.9%	11.6%	12.1%	7.6%	0.9%	5.7%	12.4%	11.9%	14.8%	9.3%	5.6%	(11.4%)	(19.9%)	18.1%	19.8%
Return on invested capital	10.3%	0.7%	11.2%	–	0.0%	9.1%	–	7.6%	12.5%	11.1%	8.5%	8.1%	18.0%	6.7%	7.1%	8.7%	1.9%	0.5%	6.6%	6.4%	8.4%	6.4%	7.1%	10.1%	8.6%	8.8%	8.0%	6.6%	8.2%	6.0%	1.6%	4.2%	7.7%	9.8%	9.4%	6.4%	5.5%	(2.7%)	(7.8%)	18.1%	21.1%
Dividend yield	2.6%	2.3%	1.4%	1.4%	1.4%	1.4%	1.8%	1.8%	1.0%	1.1%	0.9%	–	–	–	–	–	–	–	–	–	–	–	0.1%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Financial health
Current ratio	1.08×	0.92×	1.19×	1.18×	1.23×	2.40×	1.51×	1.16×	1.70×	1.20×	1.31×	2.57×	1.36×	3.65×	1.70×	3.14×	1.89×	1.91×	1.86×	1.90×	2.08×	2.40×	2.01×	2.27×	2.07×	2.79×	2.27×	2.06×	1.99×	2.03×	1.73×	1.91×	2.52×	2.57×	4.00×	3.83×	3.45×	3.87×	2.62×	5.79×	2.61×
Debt / equity	1.27×	1.55×	1.19×	1.34×	0.86×	0.77×	0.98×	1.02×	1.18×	1.25×	1.17×	1.26×	1.40×	1.16×	1.03×	1.24×	1.34×	2.32×	1.90×	1.22×	0.94×	1.18×	0.86×	1.08×	1.50×	2.22×	2.53×	2.13×	1.02×	1.20×	1.35×	1.66×	1.02×	0.65×	1.22×	1.36×	1.49×	1.45×	1.56×	1.14×	0.16×
Effective tax rate	26.1%	62.4%	20.6%	110.0%	99.7%	20.1%	102.3%	16.5%	1.0%	26.4%	29.3%	29.1%	11.8%	24.9%	16.7%	(1.5%)	61.7%	(182.2%)	(39.2%)	38.0%	31.8%	36.0%	36.0%	39.3%	40.0%	40.0%	40.0%	40.7%	41.0%	42.1%	50.7%	38.1%	38.3%	36.3%	34.2%	31.2%	27.3%	42.0%	49.2%	44.8%	44.4%
Share count
Diluted shares outstanding	176	181	184	193	191	195	168	196	201	204	204	201	198	214	209	214	221	218	219	240	239	233	214	185	176	150	148	150	153	156	155	131	104	90	73	77	83	87	86	87	86

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986
Revenue and gross profit
Revenue	$9,209	$9,139	$10,209	$9,962	$9,453	$8,821	$8,615	$8,344	$8,116	$7,580	$7,321	$6,548	$6,028	$4,868	$2,796	$2,654	$3,332	$3,365	$3,656	$3,773	$5,216	$4,603	$4,088	$3,552	$2,732	$2,821	$2,397	$2,340	$1,497	$1,213	$1,135	$535	$630	$306	$245	$177	$180	$164	$164	$171	$174	$134
Cost of revenue	($4,360)	($4,428)	($4,894)	($4,944)	($4,684)	($4,113)	($4,149)	($4,192)	($4,036)	($3,768)	($3,802)	($3,517)	($3,397)	($2,861)	($1,682)	($1,592)	($2,147)	($2,185)	($2,361)	($2,476)	($3,697)	($3,285)	($2,955)	($2,577)	($1,971)	($1,901)	($1,595)	($1,553)	($1,010)	($831)	($812)	($382)	($433)	($208)	($169)	($126)	($131)	($119)	($116)	($113)	($108)	($86)
Gross profit	$4,848	$4,712	$5,315	$5,018	$4,769	$4,707	$4,466	$4,152	$4,080	$3,812	$3,519	$3,029	$2,629	$2,003	$1,111	$1,056	$1,172	$1,162	$1,294	$1,297	$1,519	$1,318	$1,133	$976	$761	$919	$802	$788	$487	$382	$323	$153	$196	$99	$77	$51	$49	$46	$47	$58	$66	$48
Operating expenses
Research and development	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($1,907)	($1,848)	($1,950)	($1,833)	($1,928)	($1,710)	($1,675)	($1,622)	($1,668)	($1,533)	($1,392)	($1,177)	($1,078)	($895)	($585)	($538)	($641)	($682)	($832)	($771)	($739)	($606)	($526)	($457)	($351)	($577)	($487)	($482)	($300)	($232)	($209)	($112)	($145)	($60)	($46)	($30)	($33)	($33)	($47)	($70)	($43)	($28)
Total operating expenses	($2,065)	($1,990)	($4,960)	($1,848)	($1,926)	($2,376)	($1,675)	($1,997)	($1,668)	($1,533)	($1,130)	($1,264)	($1,129)	$434	($588)	($570)	($669)	($850)	($1,265)	($771)	($739)	($606)	($526)	($488)	($356)	($577)	($531)	($547)	($338)	($265)	($241)	($126)	($159)	($67)	($53)	($36)	($39)	($38)	($52)	($74)	($46)	($30)
Total costs and expenses	($6,425)	($6,418)	($9,854)	($6,792)	($6,610)	($6,489)	($5,824)	($6,189)	($5,704)	($5,300)	($4,932)	($4,783)	($4,528)	($2,430)	($2,273)	($2,168)	($2,830)	($3,053)	($3,626)	($3,247)	($4,437)	($3,891)	($3,481)	($3,065)	($2,327)	($2,478)	($2,126)	($2,100)	($1,349)	($1,096)	($1,053)	($509)	($593)	($275)	($221)	($161)	($170)	($157)	($168)	($187)	($154)	($116)
Operating income	$2,784	$2,721	$355	$3,170	$2,843	$2,332	$2,791	$2,154	$2,412	$2,280	$2,389	$1,765	$1,500	$2,438	$523	$486	$502	$312	$30	$526	$780	$712	$607	$487	$405	$342	$271	$241	$148	$117	$82	$26	$37	$31	$24	$15	$10	$8	($4)	($16)	$20	$18
Earnings
EBITDA	$3,189	$3,140	$801	$3,598	$3,227	$2,669	$3,085	$2,481	$2,745	$2,574	$2,626	$1,945	$1,662	$2,578	$631	$585	$622	$467	$173	$692	$919	$840	$711	$589	$465	$428	$342	$306	$188	$150	$114	$40	$51	$39	$30	$21	$16	$12	–	–	–	–
Interest income	($348)	($344)	($438)	($948)	–	($1,636)	$150	($2,669)	$12	$2	$2	$1	$1	$8	$7	$7	$4	$10	$4	$6	$5	$4	$2	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($345)	($362)	($418)	($444)	($416)	($352)	($386)	($429)	($379)	($334)	($335)	($315)	($339)	($331)	($234)	($188)	($199)	($265)	($323)	($340)	($280)	($197)	($140)	($174)	($70)	($114)	–	($112)	($56)	($32)	($34)	($20)	($18)	($6)	($6)	($3)	($3)	($4)	($4)	($2)	($0)	($0)
Pre-tax income	$2,473	$2,378	($83)	$2,222	$384	$310	$2,543	($945)	$4,145	$2,338	$2,083	$1,501	$1,180	$2,202	$516	$534	$551	$259	($107)	($441)	$535	$477	$432	$344	$335	$230	$162	$129	$104	$85	$48	$7	$19	$25	$18	$12	$6	$3	($9)	($19)	$19	$17
Income tax expense	($472)	($621)	$52	($457)	($422)	($309)	($511)	$967	($686)	($23)	($550)	($441)	($343)	($259)	($129)	($89)	$8	($160)	($195)	($173)	($203)	($152)	($156)	($124)	($132)	($92)	($65)	($52)	($42)	($35)	($20)	($3)	($7)	($10)	($6)	($4)	($2)	($1)	$4	$9	($9)	($8)
Net income	$1,924	$1,687	($81)	$1,727	($71)	($40)	$1,998	($12)	$3,436	$2,303	$1,529	$1,055	$839	$1,943	$388	$445	$560	$99	($301)	($613)	$332	$325	$276	$220	$203	$136	$97	$77	$50	$50	$28	$3	$12	$16	$11	$8	$4	$2	($5)	($10)	$11	$10
Per share
Diluted EPS (GAAP)	$11.15	$9.61	($0.45)	$9.39	–	–	$10.23	($0.07)	$17.57	$11.47	$7.49	$5.18	$4.17	$9.83	$1.81	$2.13	$2.62	$0.45	($1.38)	($2.80)	$1.38	$1.36	$1.19	$1.03	$1.10	$0.78	$0.65	$0.52	$0.34	$0.31	$0.30	$0.0213	$0.0925	$0.15	$0.13	$0.11	$0.0575	$0.0288	($0.0587)	($0.11)	$0.12	$0.89
Basic EPS (GAAP)	$11.16	$9.62	($0.45)	$9.42	–	–	$10.44	($0.07)	$18.24	$11.96	$7.76	$5.42	$4.40	$10.33	$2.13	$2.20	$2.68	$0.46	($1.38)	($2.80)	$1.44	$1.44	$1.25	$1.08	$1.13	$0.80	$0.67	$0.53	$0.35	$0.32	$0.30	$0.0213	$0.0925	$0.16	$0.14	$0.11	$0.0575	$0.0288	($0.0587)	($0.11)	$0.12	$0.89
Basic shares outstanding	173	175	181	183	193	191	170	168	167	171	176	173	169	188	182	202	209	220	218	219	229	221	216	201	180	171	147	145	146	149	155	155	126	96	84	73	77	83	87	86	87	86
Margins
Gross margin	52.7%	51.6%	52.1%	50.4%	50.5%	53.4%	51.8%	49.8%	50.3%	50.3%	48.1%	46.3%	43.6%	41.2%	39.7%	39.8%	35.2%	34.5%	35.4%	34.4%	29.1%	28.6%	27.7%	27.5%	27.8%	32.6%	33.5%	33.7%	32.5%	31.5%	28.4%	28.5%	31.2%	32.3%	31.2%	28.9%	27.2%	27.8%	28.8%	34.0%	37.8%	35.6%
Operating margin	30.2%	29.8%	3.5%	31.8%	30.1%	26.4%	32.4%	25.8%	29.7%	30.1%	32.6%	27.0%	24.9%	50.1%	18.7%	18.3%	15.1%	9.3%	0.8%	13.9%	14.9%	15.5%	14.8%	13.7%	14.8%	12.1%	11.3%	10.3%	9.9%	9.6%	7.2%	4.9%	5.9%	10.3%	9.8%	8.7%	5.7%	4.6%	(2.7%)	(9.2%)	11.5%	13.2%
Net margin	20.9%	18.5%	(0.8%)	17.3%	(0.8%)	(0.5%)	23.2%	(0.1%)	42.3%	30.4%	20.9%	16.1%	13.9%	39.9%	13.9%	16.8%	16.8%	3.0%	(8.2%)	(16.3%)	6.4%	7.1%	6.8%	6.2%	7.4%	4.8%	4.1%	3.3%	3.4%	4.1%	2.4%	0.6%	1.9%	5.1%	4.6%	4.4%	2.4%	1.5%	(3.1%)	(5.7%)	6.1%	7.1%

Analyst consensus

Buy47 analysts

Bearish · 1 · Hold · 21 · Bullish · 25

Earnings history

	EPS	Estimate
Q3 2025	$3.25	$3.31	Miss
Q4 2025	$2.63	$2.27	Beat
Q1 2026	$3.22	$3.31	Miss
Q2 2026	$3.63	$3.38	Beat
Q3 2026	$3.06	$2.63	Beat
Q4 2026	$1.90	$1.71	Beat
Q1 2027	$3.43	$3.22	Beat
Q2 2027	$3.74	$3.62	Beat

Peers

Company overview

IPO dateMar 17, 1992

CEONicholas Fink

Employees9,400

SectorConsumer Defensive

IndustryBeverages - Alcoholic

CountryUS

ExchangeNew York Stock Exchange

Websitewww.cbrands.com

Constellation Brands, Inc., together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company offers beer under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands. It also offers wine under the Cook’s California Champagne, Kim Crawford, Meiomi, Mount Veeder, Ruffino, SIMI, My Favorite Neighbor, Robert Mondavi Winery, Schrader, and The Prisoner Wine Company brands; and spirits under the Casa Noble, Copper & Kings, High West, Mi CAMPO, Nelson’s Green Brier, and SVEDKA brands. The company provides its products to wholesale distributors, retailers, on-premise locations, and state alcohol beverage control agencies. Constellation Brands, Inc. was founded in 1945 and is based in Rochester, New York.

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