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ValueScreener company report

Constellation Brands, Inc. (STZ)

NYSE / Consumer Defensive / Beverages - Wineries & Distilleries

Share price

127.43 USD Market dataClose of Oct 14, 2026

Market capitalisation

21.77B USD Market dataClose of Oct 14, 2026
Market data
Oct 14, 2026
Filed accounts
FY2026, filed Apr 22, 2026
Ratios computed
Oct 14, 2026
Filed years
10, FY2017 to FY2026
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on invested capital, after tax

10.5% Computed

From the FY2026 filing

Read quality

Valuation

Price to earnings

12.90x Computed

FY2026 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

8.2% Computed

FY2026 accounts, priced at the latest close

Read cash generation

Revenue and net income, as filed

FY2017 Revenue: 8.06B USDFY2017 Net income: 1.53B USDFY2018 Revenue: 8.33B USDFY2018 Net income: 2.30B USDFY2019 Revenue: 8.12B USDFY2019 Net income: 3.44B USDFY2020 Revenue: 8.34B USDFY2020 Net income: -11.8M USDFY2021 Revenue: 8.61B USDFY2021 Net income: 2.00B USDFY2022 Revenue: 8.82B USDFY2022 Net income: -40.4M USDFY2023 Revenue: 9.45B USDFY2023 Net income: -71.0M USDFY2024 Revenue: 9.96B USDFY2024 Net income: 1.73B USDFY2025 Revenue: 10.21B USDFY2025 Net income: -81.4M USDFY2026 Revenue: 9.14B USDFY2026 Net income: 1.69B USD
Revenue Net income10 filed fiscal years, from the annual reports; the table in Filings names each document.
Named tests met
3 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 12.90x at the close of 2026-10-14 on FY2026 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits between 10.00x and 15.00x.

Today, against the Consumer Defensive sector (136 companies), 12.90x sits at the 20th percentile; the middle half of that group runs from 13.84x to 33.06x.

Is it good

Return on invested capital was 10.5% in FY2026, in the band labelled "Around the cost of capital" (8.0% to 12.0%), on lines anchored on Damodaran's cost-of-capital data.

Today, against the Consumer Defensive sector (98 companies), 10.5% sits at the 65th percentile; the middle half of that group runs from 2.7% to 13.7%.

Is it safe

Interest coverage was 7.53x in FY2026, in the band labelled "Comfortable" (6.00x and above), on lines anchored on Damodaran's interest-coverage table, suggesting an interest bill operating profit covers many times over.

Year by year against peers
Whether Constellation Brands, Inc.'s return on invested capital stayed above the median of the Consumer Defensive sector, year by year. (FY2025 to FY2026, 2 fiscal years of Constellation Brands, Inc. with a comparable figure)
The direction
Which way Constellation Brands, Inc.'s return on equity has moved, and how steadily. (FY2017 to FY2026, 10 filed years of Constellation Brands, Inc.)
What could explain it
What in Constellation Brands, Inc.'s filed statements could explain the movements. (4 readings drawn from the statement lines Constellation Brands, Inc. filed)
What to check next
What to check next on Constellation Brands, Inc., and where in its filings. (3 questions for Constellation Brands, Inc.)
In one paragraph
One paragraph on Constellation Brands, Inc.'s returns, cash, balance sheet and price. (15 of sixteen figures read for Constellation Brands, Inc.)

These are STZ’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research STZPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2026 annual report: 10-K, filed Apr 22, 2026, accession 0000016918-26-000011.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

Constellation Brands, Inc: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax10.5% ComputedFY2026 10-K, filed Apr 22, 2026, 0000016918-26-000011
Return on equity20.9% ComputedFY2026 10-K, filed Apr 22, 2026, 0000016918-26-000011
Return on capital employed, pre-tax14.2% ComputedFY2026 10-K, filed Apr 22, 2026, 0000016918-26-000011
Return on assets7.7% ComputedFY2026 10-K, filed Apr 22, 2026, 0000016918-26-000011
Gross margin51.5% ComputedFY2026 10-K, filed Apr 22, 2026, 0000016918-26-000011
Operating margin29.8% ComputedFY2026 10-K, filed Apr 22, 2026, 0000016918-26-000011
Net margin18.5% ComputedFY2026 10-K, filed Apr 22, 2026, 0000016918-26-000011
STZ 18.5%
CHD 11.9%KVUE 9.7%KOF 8.5%DLTR 6.6%COKE 7.9%
6.6%18.5%
Net margin: STZ against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

Constellation Brands, Inc: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity1.39 ComputedFY2026 10-K, filed Apr 22, 2026, 0000016918-26-000011
Current ratio1.08 ComputedFY2026 10-K, filed Apr 22, 2026, 0000016918-26-000011
Quick ratio0.55 ComputedFY2026 10-K, filed Apr 22, 2026, 0000016918-26-000011
Interest coverage7.53x ComputedFY2026 10-K, filed Apr 22, 2026, 0000016918-26-000011
Altman Z-score2.67 ComputedClose of Oct 14, 2026 · FY2026 10-K, filed Apr 22, 2026, 0000016918-26-000011
Net debt11.11B ComputedFY2026 10-K, filed Apr 22, 2026, 0000016918-26-000011
Total assets 21.90BTotal liabilities 13.51BShareholders' equity 8.08BOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What Constellation Brands, Inc owned and owed at the end of fiscal 2026, from the balance sheet it filed (10-K, filed Apr 22, 2026, 0000016918-26-000011).

Constellation Brands, Inc: balance sheet position
Total assets21.90B FiledFY2026 10-K, filed Apr 22, 2026
Total liabilities13.51B FiledFY2026 10-K, filed Apr 22, 2026
Shareholders' equity8.08B FiledFY2026 10-K, filed Apr 22, 2026
Cash102.4M FiledFY2026 10-K, filed Apr 22, 2026
Total debt11.21B FiledFY2026 10-K, filed Apr 22, 2026
Net debt11.11B
Current ratio1.08
Debt to equity1.39

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

Constellation Brands, Inc: what the market charges, each with its source
FigureValue, source and document
Price to earnings12.90x ComputedClose of Oct 14, 2026 · FY2026 10-K, filed Apr 22, 2026, 0000016918-26-000011
P/E on trailing twelve months
Why n/a

A trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer.

n/a ComputedClose of Oct 14, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book2.69x ComputedClose of Oct 14, 2026 · FY2026 10-K, filed Apr 22, 2026, 0000016918-26-000011
Price to sales2.38x ComputedClose of Oct 14, 2026 · FY2026 10-K, filed Apr 22, 2026, 0000016918-26-000011
Enterprise value to EBIT12.08x ComputedClose of Oct 14, 2026 · FY2026 10-K, filed Apr 22, 2026, 0000016918-26-000011
Enterprise value to EBITDA10.47x ComputedClose of Oct 14, 2026 · FY2026 10-K, filed Apr 22, 2026, 0000016918-26-000011
Price to earnings over growth
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 14, 2026 · FY2026 10-K, filed Apr 22, 2026, 0000016918-26-000011
Diluted earnings per share
Why n/a

The FY2026 filing carries no diluted earnings per share we could read.

n/a FiledFY2026 10-K, filed Apr 22, 2026, 0000016918-26-000011
Graham number
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2026 10-K, filed Apr 22, 2026, 0000016918-26-000011

We publish no fair value or price target of our own. Value STZ on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for Constellation Brands, Inc today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

Constellation Brands, Inc: valuation
Share price127.43 USD
Market capitalisation21.77B USD
Enterprise value to EBITDA10.47x
Graham numbern/a
Diluted earnings per sharen/a

Price to earnings on trailing twelve months: A trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer.

Companies like Constellation Brands, Inc

  1. Church & Dwight Co., Inc. (CHD)Market cap 24.34B USD
  2. Kenvue Inc. (KVUE)Market cap 34.58B USD
  3. Coca-Cola FEMSA, S.A.B. de C.V. (KOF)Market cap 24.56B USD
  4. Dollar Tree, Inc. (DLTR)Market cap 23.40B USD
  5. Coca-Cola Consolidated, Inc. (COKE)Market cap 15.71B USD

Same sector (Consumer Defensive) and size band (Large, 10B to 200B), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

Constellation Brands, Inc: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield8.2% ComputedClose of Oct 14, 2026 · FY2026 10-K, filed Apr 22, 2026, 0000016918-26-000011
Free cash flow1.79B USD ComputedFY2026 10-K, filed Apr 22, 2026, 0000016918-26-000011
Free cash flow margin19.6% ComputedFY2026 10-K, filed Apr 22, 2026, 0000016918-26-000011
Dividend yield3.2% ComputedClose of Oct 14, 2026 · FY2026 10-K, filed Apr 22, 2026, 0000016918-26-000011
Payout ratio42.4% ComputedFY2026 10-K, filed Apr 22, 2026, 0000016918-26-000011
FY2017 Free cash flow: 788.6M USDFY2017 Net income: 1.53B USDFY2018 Free cash flow: 873.8M USDFY2018 Net income: 2.30B USDFY2019 Free cash flow: 1.36B USDFY2019 Net income: 3.44B USDFY2020 Free cash flow: 1.82B USDFY2020 Net income: -11.8M USDFY2021 Free cash flow: 1.94B USDFY2021 Net income: 2.00B USDFY2022 Free cash flow: 1.68B USDFY2022 Net income: -40.4M USDFY2023 Free cash flow: 1.72B USDFY2023 Net income: -71.0M USDFY2024 Free cash flow: 1.51B USDFY2024 Net income: 1.73B USDFY2025 Free cash flow: 1.94B USDFY2025 Net income: -81.4M USDFY2026 Free cash flow: 1.79B USDFY2026 Net income: 1.69B USD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filing

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

Constellation Brands, Inc.: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
12.90xFY2026Oct 14, 2026
2.69xFY2026Oct 14, 2026
12.08xFY2026Oct 14, 2026
8.2%FY2026Oct 14, 2026
10.5%FY2026Apr 22, 2026
3.2%FY2026Oct 14, 2026
1.39FY2026Apr 22, 2026
1.08FY2026Apr 22, 2026
2.38xFY2026Oct 14, 2026
n/aFY2026Oct 14, 2026
n/a The filed income statement reports no earnings per share.
2.67FY2026Oct 14, 2026
-2.52FY2026Apr 22, 2026
5/9FY2026Apr 22, 2026

The figures are computed from the accounts for fiscal 2026, the newest full year on file. 10 filed fiscal years on record, FY2017 to FY2026, from SEC EDGAR. Prices as of Oct 14, 2026. Ratios recomputed Oct 14, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

10 filed fiscal years, FY2017 to FY2026, read from the annual reports Constellation Brands, Inc filed with the SEC. Each year names its filing. Amounts in USD, as filed.

Constellation Brands, Inc: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY20269.14B2.72B1.69Bn/a1.79B29.8%20.9%10-K, Apr 22, 20260000016918-26-000011
FY202510.21B354.9M-81.4Mn/a1.94B3.5%-1.2%10-K, Apr 23, 20250000016918-25-000022
FY20249.96B3.17B1.73Bn/a1.51B31.8%17.7%10-K, Apr 23, 20240000016918-24-000054
FY20239.45B2.84B-71.0Mn/a1.72B30.1%-0.8%10-K, Apr 20, 20230000016918-23-000045
FY20228.82B2.33B-40.4Mn/a1.68B26.4%-0.3%10-K, Apr 21, 20220000016918-22-000069
FY20218.61B2.79B2.00Bn/a1.94B32.4%14.7%10-K, Apr 20, 20210000016918-21-000060
FY20208.34B2.15B-11.8Mn/a1.82B25.8%-0.1%10-K, Apr 21, 20200000016918-20-000078
FY20198.12B2.41B3.44Bn/a1.36B29.7%27.4%10-K, Apr 23, 20190000016918-19-000024
FY20188.33B2.28B2.30Bn/a873.8M27.4%28.9%10-K, Apr 23, 20180000016918-18-000033
FY20178.06B2.39B1.53Bn/a788.6M29.6%22.2%10-K, Apr 27, 20170000016918-17-000029
  • Revenue, compound annual growth FY2017 to FY2026: 1.4%
  • Earnings, compound annual growth FY2017 to FY2026: 1.1%
  • Earnings per share: Fewer than two filed years carry earnings per share.
  • Free cash flow, compound annual growth FY2017 to FY2026: 9.6%

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

Constellation Brands, Inc: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score-2.52 ComputedFY2026 10-K, filed Apr 22, 2026, 0000016918-26-000011
Piotroski F-score5/9 ComputedFY2026 10-K, filed Apr 22, 2026, 0000016918-26-000011
Named tests met3 of 30 Computed
Beta0.44 ComputedClose of Oct 14, 2026

The named tests

Of 30 tests value investors published: 3 met, 25 not met, 2 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
ROIC at or above WACC; Cash-covered dividend; Cash-flow yield and ROIC
Does not
Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; Earnings yield and ROIC (Joel Greenblatt); High F-score, low P/B (Joseph Piotroski); Three forensic scores; Low PEG, low debt (Peter Lynch); High returns and growth; Gross margin, turnover (Robert Novy-Marx); EV/EBITDA and coverage; High yield, low payout; Low beta, profitable; Near the 52-week low; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); High returns, low debt; Owner earnings yield; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy); Book or below, low debt (Walter Schloss); Tangible book or below; Clean books, high ROIC; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff)
Not measured
Dividends and buybacks; P/E times P/B (Benjamin Graham). A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(5)
  • Positive Earnings Streak: The latest filed year has no per-share earnings we can read; the test needs 10.
  • PEG Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Eps Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
  • Share Count Change Yoy: We do not hold this figure for this company, so there is nothing to show.
  • Price To Graham: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by the founder: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • 5 figures could not be read on this company, among them Positive Earnings Streak, PEG Ratio, Eps Growth 5Y. Each blank in the table above names the rest, with its reason. 2 named tests come back incomplete because of them, which is neither met nor missed.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Margin Notes

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

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