Constellation Brands, Inc. STZ

Consumer StaplesBeveragesUnited States of America

Last close 140.67 USD on Nov 2, 2026, +4.9% year to date

Quant rating

Quant rating B Rank 43 of 124 in Consumer Staples

Growth C 81 of 124
Valuation C 59 of 124
Quality B 37 of 124
Revisions B 47 of 124
Momentum C 58 of 124

Wall Street consensus Buy (2.40)Average target 151.16 USD +7.5%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 23.8B
Enterprise value: 34.3B
52-week range: 110.69 – 168.48
3-year range: 110.69 – 272.04
Dividend yield: 3.04%
Beta (5 years): 0.40
Shares outstanding: 169M
Next earnings: Jan 5, 2027

About the company

Constellation Brands, Inc. is a producer and marketer of beer, wine, and spirits with operations in the United States, Mexico, New Zealand, and Italy with brands, such as Corona Extra, Modelo Especial, Robert Mondavi Winery, Kim Crawford, The Prisoner Wine Company, High West, Casa Noble, and Mi CAMPO. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. In the Beer segment, its portfolio consists of high-end imported beer brands and ABAs. It has a perpetual brand license to produce its Mexican beer portfolio and to import, market, and sell such a portfolio in the United States. In the Wine and Spirits segment, it sells a portfolio that includes higher-end wine brands complemented by certain higher-end spirits brands. Its Corporate Operations and Other segment consists of costs of corporate development, corporate finance, corporate strategy, executive management, growth, human resources, internal audit, investor relations, IT, legal and public relations.

Growth and profitability fiscal year ends February 28

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	9,139	10,209	9,962	9,453	8,821	–
Revenue growth	−10.5%	2.5%	5.4%	7.2%	2.4%	1.2%
EPS (basic, normalized)	11.82	13.78	12.06	10.65	10.20	–
EPS growth	−14.2%	14.3%	13.2%	4.4%	–	–
Gross margin	51.8%	52.3%	50.4%	50.7%	53.3%	51.7%
Net margin	18.5%	−0.8%	17.3%	−0.8%	−0.5%	6.8%
ROE	22.5%	−1.0%	19.0%	−0.7%	−0.3%	7.9%

Balance sheet, last quarter
Cash & short-term investments (mil)	98.5
Current ratio	1.00x
Long-term debt (mil)	9,096
Net debt (mil)	10,510
Total equity (mil)	8,587
Net debt / equity	1.22x
Net debt / EBITDA	3.11x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2026 actual	9,139	−10.5%	3.8x	3,381	−13.0%	10.1x	11.82	−14.2%	11.9x
2027	9,123	−0.2%	3.8x	3,340	−1.2%	10.3x	11.81	−0.1%	11.9x
2028	9,266	+1.6%	3.7x	3,420	+2.4%	10.0x	12.14	+2.8%	11.6x
2029	9,443	+1.9%	3.6x	3,467	+1.4%	9.9x	12.98	+6.9%	10.8x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2027	9,123	+0.4%	+0.2%	+0.1%	11.81	+0.7%	+0.1%	−0.4%
2028	9,266	+0.1%	−0.2%	−0.2%	12.14	−1.2%	−2.0%	−2.6%
2029	9,443	−0.1%	−0.6%	−0.6%	12.98	−0.4%	−1.5%	−1.7%

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	May 2024	Aug 2024	Nov 2024	Feb 2025	May 2025	Aug 2025	Nov 2025	Feb 2026	May 2026	Aug 2026
Sales reported (mil)	2,662	2,919	2,464	2,164	2,515	2,481	2,223	1,920	2,433	2,633
Sales mean (mil)	2,671	2,898	2,534	2,129	2,554	2,459	2,159	1,882	2,389	2,543
Surprise	−0.3%	+0.7%	−2.8%	+1.6%	−1.5%	+0.9%	+2.9%	+2.0%	+1.8%	+3.5%
EPS reported	3.57	4.32	3.25	2.63	3.22	3.63	3.06	1.90	3.43	3.74
EPS mean	3.46	4.08	3.31	2.28	3.31	3.38	2.63	1.72	3.20	3.56
Surprise	+3.2%	+5.8%	−1.9%	+15.5%	−2.6%	+7.3%	+16.1%	+10.6%	+7.1%	+5.0%

Peer comparison Beverages

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
STZ Constellation Brands, Inc.	23.8B	3.11x	18.5%	2.78x	11.9x	11.6x	10.3x	10.0x
KO Coca-Cola Co	412.3B	1.69x	27.3%	11.03x	28.7x	27.1x	25.1x	24.1x
PEP PepsiCo, Inc.	191.4B	2.22x	8.8%	8.59x	16.7x	16.3x	12.2x	11.9x
BUD Anheuser-Busch Inbev SA	148.4B	3.39x	11.5%	1.75x	19.0x	17.2x	9.5x	9.1x
MNST Monster Beverage Corporation	93.9B	–	23.0%	10.05x	41.5x	36.4x	30.0x	26.8x
DGE Diageo PLC	53.9B	–	8.8%	4.95x	14.5x	13.7x	11.9x	11.4x
Mean		2.60x	16.3%	6.52x	22.0x	20.4x	16.5x	15.5x
Median		2.67x	15.0%	6.77x	17.9x	16.8x	12.0x	11.6x

Technical analysis

1M+25.6%
3M+8.8%
1Y+10.2%
3Y−36.6%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Constellation Brands, Inc., fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Total revenue	9,139	10,209	9,962	9,453	8,821	8,615
Cost of revenue	4,409	4,874	4,944	4,660	4,122	4,112
Gross profit	4,730	5,335	5,017	4,793	4,699	4,503
Selling, general & administrative expenses	1,750	1,834	1,750	1,866	1,708	1,638
Research & development	–	–	–	–	–	–
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	260	3,146	87.6	132	686	102
Other operating expenses	0	0	11.4	−23.3	2.3	−14.7
Operating income	2,720	355	3,169	2,819	2,302	2,778
Net interest income (expense)	−342	−438	−947	−2,435	−1,992	−235
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	2,378	−82.8	2,222	384	310	2,543
Provision for taxes	621	−51.7	457	422	309	511
Minority interest	−70.1	−50.3	−37.8	−32.5	−41.4	−33.8
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	1,687	−81.4	1,727	−71.0	−40.4	1,998
Extraordinary items	–	–	–	–	–	0
Net income	1,687	−81.4	1,727	−71.0	−40.4	1,998
EBIT, normalized	2,980	3,501	3,257	2,950	2,988	2,881
EBITDA, normalized	3,400	3,948	3,686	3,350	3,331	3,180
Basic EPS, normalized	11.82	13.78	12.06	10.65	10.20	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Constellation Brands, Inc., fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	102	68.1	152	134	199	461
Receivables	947	993	1,080	1,076	1,119	1,088
Total inventory	1,434	1,437	2,078	1,899	1,573	1,291
Prepaid expenses	131	150	131	130	254	40.9
Other current assets	292	1,068	287	259	184	163
Total current assets	2,906	3,716	3,730	3,496	3,330	3,044
Property, plant & equipment	9,103	7,956	8,670	7,308	6,538	6,300
Goodwill	5,234	5,127	7,980	7,925	7,862	7,794
Intangibles	2,533	2,532	2,732	2,728	2,755	2,732
Long-term investments	384	226	171	756	2,880	4,606
Note receivable	189	136	–	–	–	–
Other long-term assets	1,551	1,959	2,409	2,448	2,490	2,629
Total assets	21,900	21,652	25,692	24,662	25,856	27,105
Liabilities
Accounts payable	960	940	1,107	942	899	460
Payable/accrued	–	–	–	–	–	–
Accrued expenses	613	665	624	654	660	579
Short-term debt	272	807	241	1,165	323	0
Current portion of long-term debt	604	1,402	957	9.5	605	29.2
Other current liabilities	241	222	212	198	211	201
Total current liabilities	2,690	4,035	3,142	2,968	2,699	1,269
Long-term debt	9,693	9,289	10,681	11,286	9,488	10,413
Minority interest	304	253	322	320	316	330
Other liabilities	1,131	1,193	1,804	1,674	1,621	1,494
Total liabilities	13,818	14,770	15,949	16,249	14,124	13,506
Shareholders' equity
Preferred stock	0	–	–	–	–	0
Common stock	2.1	2.1	2.1	2.1	2.2	2.2
Additional paid-in capital	2,186	2,145	2,047	1,903	1,809	1,604
Retained earnings (accumulated deficit)	13,574	12,603	13,417	12,344	14,505	15,118
Treasury stock	−8,103	−7,205	−6,100	−5,864	−4,172	−2,792
Other equity	423	−663	377	28.5	−413	−333
Total equity	8,082	6,882	9,743	8,414	11,732	13,599
Total liabilities & shareholders' equity	21,900	21,652	25,692	24,662	25,856	27,105

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Constellation Brands, Inc., fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	1,757	−31.1	1,765	−38.5	1.0	2,032
Depreciation, depletion & amortization	419	446	429	400	342	299
Deferred taxes	510	−210	148	208	84.8	336
Non-cash items	341	3,249	711	2,344	2,486	54.3
Changes in working capital	−358	−301	−273	−156	−209	84.9
Cash from operations	2,669	3,152	2,780	2,757	2,705	2,806
Investing activities
Capital expenditures	−875	−1,214	−1,269	−1,035	−1,027	−865
Other investing cash flows	892	239	−16.8	36.0	−9.0	777
Cash from investing	16.5	−975	−1,286	−999	−1,036	−87.9
Financing activities
Financing cash flow items	−82.4	−88.3	−86.4	−102	−96.9	−65.0
Cash dividends paid	−716	−732	−654	−588	−573	−575
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−1,858	−1,442	−734	−1,130	−1,260	−1,707
Cash from financing	−2,656	−2,262	−1,475	−1,820	−1,930	−2,347
Foreign exchange effects	4.8	0.1	−0.6	−3.5	−1.3	7.2
Net change in cash	34.3	−84.3	18.9	−65.9	−261	379
Free cash flow	1,794	1,938	1,511	1,722	1,679	1,942

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.