Constellation Brands (STZ)
Market Price (12/30/2025): $139.0 | Market Cap: $24.4 BilSector: Consumer Staples | Industry: Distillers & Vintners
Constellation Brands (STZ)
Market Price (12/30/2025): $139.0Market Cap: $24.4 BilSector: Consumer StaplesIndustry: Distillers & Vintners
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.5%, FCF Yield is 7.6% | Weak multi-year price returns2Y Excs Rtn is -85%, 3Y Excs Rtn is -115% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -5.6%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.7%, Rev Chg QQuarterly Revenue Change % is -15% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 32% | Key risksSTZ key risks include [1] uncertain demand recovery from its core Hispanic consumer base, Show more. | |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 29%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19%, CFO LTM is 2.8 Bil | ||
| Low stock price volatilityVol 12M is 32% | ||
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, E-commerce & Digital Retail, and Health & Wellness Trends. Themes include Luxury Consumer Goods, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.5%, FCF Yield is 7.6% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 32% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 29%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19%, CFO LTM is 2.8 Bil |
| Low stock price volatilityVol 12M is 32% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, E-commerce & Digital Retail, and Health & Wellness Trends. Themes include Luxury Consumer Goods, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -85%, 3Y Excs Rtn is -115% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -5.6%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.7%, Rev Chg QQuarterly Revenue Change % is -15% |
| Key risksSTZ key risks include [1] uncertain demand recovery from its core Hispanic consumer base, Show more. |
Why The Stock Moved
Qualitative Assessment
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Here are key points explaining the -13.8% stock movement for Constellation Brands (STZ) during the approximate time period from August 31, 2025, to December 30, 2025:
1. Lowered Full-Year Adjusted EPS Guidance.Following its Q3 Calendar Year 2025 earnings report on October 6, 2025, Constellation Brands' management lowered its full-year Adjusted EPS guidance to $11.45 at the midpoint, representing a 10.2% decrease. This reduction signaled a weaker outlook for the company's future profitability.
2. Significant Year-over-Year Sales Decline.During its Q3 Calendar Year 2025 earnings, also reported on October 6, 2025, Constellation Brands experienced a 15% year-over-year decline in sales, reaching $2.48 billion. This substantial drop in revenue indicated a contraction in the company's top-line performance.
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1. Lowered Full-Year Adjusted EPS Guidance.Following its Q3 Calendar Year 2025 earnings report on October 6, 2025, Constellation Brands' management lowered its full-year Adjusted EPS guidance to $11.45 at the midpoint, representing a 10.2% decrease. This reduction signaled a weaker outlook for the company's future profitability.
2. Significant Year-over-Year Sales Decline.During its Q3 Calendar Year 2025 earnings, also reported on October 6, 2025, Constellation Brands experienced a 15% year-over-year decline in sales, reaching $2.48 billion. This substantial drop in revenue indicated a contraction in the company's top-line performance.
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Stock Movement Drivers
Fundamental Drivers
The 2.3% change in STZ stock from 9/29/2025 to 12/29/2025 was primarily driven by a 5.8% change in the company's P/S Multiple.| 9292025 | 12292025 | Change | |
|---|---|---|---|
| Stock Price ($) | 135.41 | 138.51 | 2.29% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 10061.90 | 9624.00 | -4.35% |
| P/S Multiple | 2.39 | 2.53 | 5.75% |
| Shares Outstanding (Mil) | 177.80 | 175.82 | 1.11% |
| Cumulative Contribution | 2.28% |
Market Drivers
9/29/2025 to 12/29/2025| Return | Correlation | |
|---|---|---|
| STZ | 2.3% | |
| Market (SPY) | 3.6% | 23.4% |
| Sector (XLP) | 0.2% | 21.6% |
Fundamental Drivers
The -13.7% change in STZ stock from 6/30/2025 to 12/29/2025 was primarily driven by a -10.5% change in the company's P/S Multiple.| 6302025 | 12292025 | Change | |
|---|---|---|---|
| Stock Price ($) | 160.48 | 138.51 | -13.69% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 10208.70 | 9624.00 | -5.73% |
| P/S Multiple | 2.83 | 2.53 | -10.54% |
| Shares Outstanding (Mil) | 179.94 | 175.82 | 2.29% |
| Cumulative Contribution | -13.73% |
Market Drivers
6/30/2025 to 12/29/2025| Return | Correlation | |
|---|---|---|
| STZ | -13.7% | |
| Market (SPY) | 11.6% | 19.9% |
| Sector (XLP) | -2.7% | 33.7% |
Fundamental Drivers
The -36.2% change in STZ stock from 12/29/2024 to 12/29/2025 was primarily driven by a -70.8% change in the company's P/E Multiple.| 12292024 | 12292025 | Change | |
|---|---|---|---|
| Stock Price ($) | 217.20 | 138.51 | -36.23% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 10190.80 | 9624.00 | -5.56% |
| Net Income Margin (%) | 5.69% | 12.70% | 123.42% |
| P/E Multiple | 68.19 | 19.92 | -70.79% |
| Shares Outstanding (Mil) | 181.95 | 175.82 | 3.37% |
| Cumulative Contribution | -36.30% |
Market Drivers
12/29/2024 to 12/29/2025| Return | Correlation | |
|---|---|---|
| STZ | -36.2% | |
| Market (SPY) | 16.6% | 29.4% |
| Sector (XLP) | 0.6% | 47.0% |
Fundamental Drivers
The -36.8% change in STZ stock from 12/30/2022 to 12/29/2025 was primarily driven by a -94.9% change in the company's P/E Multiple.| 12302022 | 12292025 | Change | |
|---|---|---|---|
| Stock Price ($) | 219.23 | 138.51 | -36.82% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 9441.40 | 9624.00 | 1.93% |
| Net Income Margin (%) | 1.11% | 12.70% | 1047.85% |
| P/E Multiple | 387.98 | 19.92 | -94.87% |
| Shares Outstanding (Mil) | 184.94 | 175.82 | 4.93% |
| Cumulative Contribution | -36.97% |
Market Drivers
12/30/2023 to 12/29/2025| Return | Correlation | |
|---|---|---|
| STZ | -40.3% | |
| Market (SPY) | 47.9% | 27.1% |
| Sector (XLP) | 13.9% | 49.5% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| STZ Return | 17% | 16% | -6% | 6% | -7% | -35% | -19% |
| Peers Return | 16% | 38% | -12% | 21% | 26% | 16% | 151% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 17% | 114% |
Monthly Win Rates [3] | |||||||
| STZ Win Rate | 67% | 58% | 58% | 58% | 50% | 42% | |
| Peers Win Rate | 52% | 65% | 42% | 68% | 57% | 52% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| STZ Max Drawdown | -44% | -4% | -15% | -10% | -8% | -41% | |
| Peers Max Drawdown | -34% | -5% | -26% | -7% | -9% | -23% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL. See STZ Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/29/2025 (YTD)
How Low Can It Go
| Event | STZ | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -20.1% | -25.4% |
| % Gain to Breakeven | 25.1% | 34.1% |
| Time to Breakeven | 195 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -49.3% | -33.9% |
| % Gain to Breakeven | 97.2% | 51.3% |
| Time to Breakeven | 255 days | 148 days |
| 2018 Correction | ||
| % Loss | -35.6% | -19.8% |
| % Gain to Breakeven | 55.2% | 24.7% |
| Time to Breakeven | 763 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -62.8% | -56.8% |
| % Gain to Breakeven | 168.7% | 131.3% |
| Time to Breakeven | 1,339 days | 1,480 days |
Compare to HPQ, HPE, IBM, CSCO, AAPL
In The Past
Constellation Brands's stock fell -20.1% during the 2022 Inflation Shock from a high on 12/2/2022. A -20.1% loss requires a 25.1% gain to breakeven.
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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. It provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands. The company offers wine under the 7 Moons, Cook's California Champagne, Cooper & Thief, Crafters Union, Kim Crawford, Meiomi, Mount Veeder, Ruffino, SIMI, The Dreaming Tree, Charles Smith, The Prisoner Wine Company, Robert Mondavi, My Favorite Neighbor, and Schrader; and spirits under the Casa Noble, Copper & Kings, High West, Mi CAMPO, Nelson's Green Brier, and SVEDKA brands. It 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 headquartered in Victor, New York.
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Here are 1-2 brief analogies for Constellation Brands (STZ):
Like a Diageo (DEO) or Pernod Ricard (RI) for the North American alcohol market, managing a broad portfolio of popular beer, wine, and spirits brands.
The Coca-Cola (KO) or PepsiCo (PEP) of alcoholic beverages, owning a portfolio of well-known beer, wine, and spirits brands.
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- Beer: Offers a portfolio of high-end imported beer brands for the U.S. market, primarily including Corona and Modelo Especial.
- Wine: Produces and markets a diverse range of premium wine brands, such as Robert Mondavi, Kim Crawford, and Meiomi.
- Spirits: Provides consumers with a selection of premium distilled spirits brands, including Svedka Vodka and Casa Noble Tequila.
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Constellation Brands (STZ) primarily sells its products to other companies, specifically wholesale distributors, rather than directly to individual consumers. These distributors then sell to various retail channels such as grocery stores, convenience stores, restaurants, and bars. Constellation Brands' major customer is:-
Southern Glazer's Wine and Spirits, LLC (private company)
This single customer accounted for approximately 13% of Constellation Brands' consolidated net sales in fiscal year 2024. No other customer accounted for 10% or more of net sales in fiscal years 2024, 2023, or 2022.
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Bill Newlands, President and Chief Executive Officer
Bill Newlands has been President and Chief Executive Officer of Constellation Brands since March 2019, having joined the company in 2015 as Executive Vice President and Chief Growth Officer. His prior roles include President, North America at Beam, Inc., where he led the company to become one of the fastest-growing in its category. He also served as President, Beam Spirits U.S.; President, Beam Wine Estates; President and CEO, Allied Domecq Wines USA; CEO and Board Director at wine.com; and Managing Director, U.S. and Global Marketing Officer at LVMH Chandon Estates. Newlands is a director of Hormel Foods Corporation, a global branded food company, since November 2018 and has been its Lead Director since January 2023.
Garth Hankinson, Chief Financial Officer
Garth Hankinson was promoted to Executive Vice President and Chief Financial Officer of Constellation Brands in January 2020. He joined Constellation Brands in 2001 and has held various senior leadership roles, including Senior Vice President, Corporate Development. In this capacity, he oversaw financial planning, reporting and analysis, as well as mergers, acquisitions, venture investments, and strategic alliances. Before joining Constellation Brands, Hankinson worked in strategy and finance at Xerox and Citi for more than eight years.
Sam Glaetzer, Executive Vice President and President, Wine & Spirits Division
Sam Glaetzer was appointed Executive Vice President and President, Wine & Spirits Division at Constellation Brands in March 2024. He brings over 30 years of experience in the global wine and spirits industry. Glaetzer joined Constellation Brands in 2014 as Managing Director of its New Zealand and Australian operations. His previous roles within the company include SVP of Global Operations & Head of International Sales, Wine & Spirits Division, and SVP of Global Operations, Wine & Spirits. Prior to Constellation Brands, he served as Director, New Zealand at Treasury Wine Estates. He has extensive knowledge in brand management, supply chain optimization, and cross-functional team leadership, and has been involved in acquisition integrations and divestitures.
Jim Sabia, Executive Vice President and President, Beer Division
Jim Sabia is Constellation's Executive Vice President and President, Beer Division. He is responsible for the day-to-day general management of U.S. commercial and operations functions for the company's beer business. Sabia joined Constellation Brands in 2007, initially leading the marketing efforts of the spirits business. He previously served as the company's Executive Vice President and Managing Director, Beer Division.
Mallika Monteiro, Executive Vice President, Chief Growth & Digital Officer and Managing Director, Beer Brands
Mallika Monteiro serves as Constellation's Executive Vice President, Chief Growth & Digital Officer and Managing Director, Beer Brands. In this role, she oversees all aspects of brand marketing and advertising, trade marketing and merchandising, and field, lifestyle, and experiential marketing for the company's high-end beer brands. Monteiro joined Constellation in 2016 as Vice President, Beer Innovation.
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The key risks to Constellation Brands (STZ) are:
- Declining Consumer Demand and Shifting Preferences: Constellation Brands faces a significant risk from changing consumer preferences and an overall decline in alcohol consumption, particularly among younger generations who are reportedly drinking less alcohol and opting for alternatives like hard seltzers or non-alcoholic beverages. Weaker-than-expected beer demand and uncertain recovery among Hispanic consumers, who represent a substantial portion of beer sales, further exacerbate this risk.
- Tariff Risks and Macroeconomic Pressures: The company is exposed to ongoing tariff headwinds and macroeconomic pressures, which can significantly impact margins. Specifically, U.S. tariffs on Mexican imports, such as the 25% tariff on non-Originating Mexican goods under the USMCA affecting aluminum cans, pose a direct cost pressure for Constellation Brands' Mexican beer segment. There are also concerns about potential increases in tariffs, such as a proposed 50% hike on steel and aluminum.
- Performance and Impairment in Wine and Spirits Segment and Associated Legal Risks: Constellation Brands has experienced declining sales in its Wine and Spirits segment, leading to significant goodwill impairment charges. This struggling segment has also been a focal point of investor lawsuits alleging securities law violations and misleading statements regarding the business's performance and prospects, which has contributed to stock price volatility.
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Constellation Brands (STZ) faces two clear emerging threats:
- Legalization and Mainstreaming of Cannabis Products: As cannabis becomes increasingly legalized and socially accepted across more regions, particularly in the form of beverages and edibles, it poses a direct substitute threat to alcohol consumption. Consumers may increasingly choose cannabis products for relaxation, socializing, or recreation, potentially diverting sales from Constellation Brands' core beer, wine, and spirits portfolio. While Constellation Brands has made a significant investment in Canopy Growth (a cannabis company) to participate in this market, the fundamental shift in consumer preference and competition from a new legal substance could still impact its traditional alcohol business.
- Accelerating Consumer Shift Towards Alcohol Moderation and the Growth of the No-Low (NOLO) Alcohol Category: There is a clear and growing global trend, particularly among younger demographics, to reduce overall alcohol consumption for health, wellness, and lifestyle reasons. This trend is fueling rapid growth in the no-alcohol and low-alcohol beverage categories (e.g., non-alcoholic beers, wines, and spirits). While Constellation Brands has introduced some NOLO products (e.g., Corona Sunbrew 0.0%), a sustained and accelerating shift towards moderation could significantly impact the sales volume of its full-strength, higher-ABV core brands, such as Corona and Modelo Especial.
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Constellation Brands (STZ) operates in the beer, wine, and spirits segments, with a strategic focus on high-end and premium brands in the United States and internationally. The addressable markets for their main products are as follows:
U.S. Beer Market
- The U.S. beer market was estimated to be between USD 106.84 billion and USD 130.07 billion in 2024. It is projected to reach approximately USD 123.68 billion by 2030, USD 191.71 billion by 2030, or USD 189.71 billion by 2033, depending on the source.
- In 2024, the U.S. beer market generated a revenue of USD 130.07 billion. Another estimate places the U.S. beer market at USD 117 billion in 2024.
- The premium segment of the beer market is experiencing growth, reflecting consumer demand for high-end products.
U.S. Wine Market
- The U.S. wine market was valued at approximately USD 75.27 billion in 2024. Other estimates for 2024/2025 range from USD 79.8 billion to USD 89.9 billion.
- Projections indicate the U.S. wine market could reach between USD 118.35 billion and USD 119.6 billion by 2030-2034. One source provides a higher projection, stating the U.S. wine market is valued at USD 352.34 billion in 2025 and is forecast to reach USD 394.57 billion by 2030.
U.S. Spirits Market
- The U.S. spirits market was valued at approximately USD 83.41 billion in 2024 and is projected to reach USD 107.84 billion by 2029. Other estimates place the market size at USD 120.34 billion in 2025, expected to reach USD 136.87 billion by 2030. In 2022, the U.S. spirits market size was USD 122.6 billion.
- The U.S. white spirits market specifically was valued at USD 16.50 billion in 2024, estimated to reach USD 17.65 billion in 2025, and projected to reach USD 30.33 billion by 2033.
- Premiumization trends are a significant driver in the U.S. spirits market, with consumers showing increasing interest in premium and super-premium alcoholic beverages.
Global Premium and Luxury Alcoholic Beverage Markets
- The global premium spirits market was valued at USD 211.1 billion in 2023 and is poised to grow to USD 510.11 billion by 2032.
- The global luxury wines and spirits market was valued at USD 867.9 billion in 2024 and is projected to reach USD 1523.8 billion by 2035.
- The global premium alcoholic beverage market is valued at USD 467.4 billion in 2025 and is projected to reach USD 1,115.6 billion by 2035.
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Constellation Brands (STZ) is expected to drive future revenue growth over the next two to three years through several key strategies:
- Sustained Strong Volume Growth in the Beer Business: Constellation Brands anticipates best-in-class annual net sales growth of approximately 7-9% for its Beer Business over the medium term, primarily fueled by strong volume growth due to consistent high consumer demand for its brands. This growth is expected to come from the distribution of its largest brands, supported by spring shelf reset gains, continued consumer support, and innovation through brand extensions, new product introductions, and new pack sizes. The beer business has demonstrated strong performance, achieving its 56th consecutive quarter of volume growth.
- Focus on Premiumization and High-End Portfolio: The company's strategy involves continuing to drive its iconic high-end portfolio across its beer, wine, and spirits segments. This focus on premium offerings aims to capitalize on consumer trends towards higher-value products. While the Wine & Spirits business has undergone significant transformation, doubling its number of fine wine and craft spirits brands since fiscal year 2019, it is expected to achieve sequential improvement in top-line and profitability, targeting 1-3% net sales growth over the medium term.
- Consumer-Led Innovation: Constellation Brands emphasizes consumer-led innovation as a strategic foundation for continued growth. This includes developing new products and brand extensions that align with evolving consumer tastes and emerging beverage trends, particularly within the beer segment.
- Disciplined Incremental Pricing: Strategic pricing adjustments are expected to contribute to revenue growth. The company has implemented disciplined incremental pricing, such as in the fall of fiscal 2025, aligning with expectations of 1-2% pricing for its beer business. These prudent pricing efforts have also contributed to margin improvement in the wine and spirits segment.
- Strategic Marketing Investments and Brand Building: Ongoing investment in marketing effectiveness and brand health is crucial for maintaining and expanding market share. Constellation Brands has highlighted its commitment to marketing efforts for key brands like Modelo Especial and Corona Extra, which have shown resilience and continued to gain market share. Enhanced marketing actions are anticipated to yield additional benefits, particularly for the beer business.
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Share Repurchases
- Constellation Brands has a $4 billion share repurchase authorization that was approved around April 2025 for a three-year period.
- In Fiscal Year 2025, the company returned approximately $1.9 billion to shareholders through share repurchases and quarterly dividends.
- As of the first half of fiscal 2026, $604 million in share repurchases have been executed under the $4 billion authorization.
Share Issuance
- The number of Class A Common Stock shares outstanding as of August 31, 2025, was 0.176 billion, reflecting a 3.3% decline year-over-year.
- Constellation Brands' shares outstanding decreased by 1.35% in 2025 to 0.181 billion, and by 4.46% in 2024 to 0.184 billion.
- In 2023, shares outstanding slightly increased by 0.99% to 0.193 billion from 2022.
Outbound Investments
- Constellation Brands completed the divestiture of primarily mainstream wine brands, including Woodbridge, Meiomi, and Robert Mondavi Private Selection, to The Wine Group in June 2025 to focus on a higher-growth, higher-margin portfolio.
- The company made several acquisitions, including Sea Smoke in May 2024, Austin Cocktails in April 2022, and Booker in November 2021, all for undisclosed amounts.
- In April 2024, Constellation Brands converted its common shares in Canopy Growth Corporation into non-voting, non-participating exchangeable shares and exchanged a C$81.2 million promissory note for additional exchangeable shares, signaling an intent not to deploy additional investment in Canopy.
Capital Expenditures
- Constellation Brands' capital expenditures averaged $1.082 billion annually for fiscal years 2021 to 2025.
- Capital expenditures were $1.269 billion in Fiscal Year 2024 and $1.214 billion in Fiscal Year 2025.
- For Fiscal Year 2026, expected capital expenditures are approximately $1.2 billion, with about $1 billion specifically allocated to Mexico beer operations for modular development of new breweries and expansions of existing facilities.
Latest Trefis Analyses
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|---|---|
| ARTICLES |
Trade Ideas
Select ideas related to STZ. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11302025 | BF-B | Brown-Forman | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -9.2% | -9.2% | -9.2% |
| 11302025 | CPB | Campbell's | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -7.6% | -7.6% | -9.2% |
| 11212025 | ENR | Energizer | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 12.5% | 12.5% | -5.3% |
| 11212025 | FLO | Flowers Foods | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 5.9% | 5.9% | -1.6% |
| 11142025 | CLX | Clorox | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -4.2% | -4.2% | -6.0% |
| 07312025 | STZ | Constellation Brands | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -16.4% | -16.4% | -23.0% |
| 01312025 | STZ | Constellation Brands | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -6.5% | -21.4% | -27.6% |
| 04302020 | STZ | Constellation Brands | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 1.6% | 48.3% | -5.2% |
| 12312018 | STZ | Constellation Brands | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 22.9% | 19.8% | -6.1% |
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Peer Comparisons for Constellation Brands
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 108.15 |
| Mkt Cap | 159.0 |
| Rev LTM | 56,496 |
| Op Inc LTM | 7,584 |
| FCF LTM | 7,327 |
| FCF 3Y Avg | 7,366 |
| CFO LTM | 8,590 |
| CFO 3Y Avg | 8,697 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.2% |
| Rev Chg 3Y Avg | 2.2% |
| Rev Chg Q | 8.3% |
| QoQ Delta Rev Chg LTM | 2.0% |
| Op Mgn LTM | 20.1% |
| Op Mgn 3Y Avg | 20.3% |
| QoQ Delta Op Mgn LTM | -0.0% |
| CFO/Rev LTM | 22.2% |
| CFO/Rev 3Y Avg | 23.8% |
| FCF/Rev LTM | 18.7% |
| FCF/Rev 3Y Avg | 17.8% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 159.0 |
| P/S | 3.4 |
| P/EBIT | 21.1 |
| P/E | 33.0 |
| P/CFO | 16.1 |
| Total Yield | 5.2% |
| Dividend Yield | 2.1% |
| FCF Yield 3Y Avg | 5.7% |
| D/E | 0.3 |
| Net D/E | 0.3 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 0.1% |
| 3M Rtn | 5.0% |
| 6M Rtn | 9.2% |
| 12M Rtn | 11.5% |
| 3Y Rtn | 72.0% |
| 1M Excs Rtn | 0.2% |
| 3M Excs Rtn | 1.3% |
| 6M Excs Rtn | -2.1% |
| 12M Excs Rtn | -4.0% |
| 3Y Excs Rtn | -5.1% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Beer | 8,163 | 7,465 | 6,752 | 6,075 | 5,616 |
| Wine and Spirits | 1,799 | 1,988 | 2,069 | 2,540 | 2,728 |
| Corporate Operations and Other | 0 | ||||
| Canopy | 444 | 379 | 290 | ||
| Consolidation and Eliminations | -444 | -379 | -290 | ||
| Total | 9,962 | 9,453 | 8,821 | 8,615 | 8,344 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Beer | 3,094 | 2,862 | 2,703 | 2,494 | 2,248 |
| Wine and Spirits | 399 | 453 | 471 | 622 | 708 |
| Comparable Adjustments | -76 | -194 | -604 | -97 | -578 |
| Corporate Operations and Other | -248 | -278 | -238 | -229 | -224 |
| Canopy | -630 | -1,496 | -686 | ||
| Consolidation and Eliminations | 630 | 1,496 | 686 | ||
| Total | 3,170 | 2,843 | 2,332 | 2,791 | 2,154 |
Price Behavior
Price Behavior
| Market Price | $138.51 | |
| Market Cap ($ Bil) | 24.4 | |
| First Trading Date | 03/17/1992 | |
| Distance from 52W High | -36.3% | |
| 50 Days | 200 Days | |
| DMA Price | $136.20 | $158.25 |
| DMA Trend | down | indeterminate |
| Distance from DMA | 1.7% | -12.5% |
| 3M | 1YR | |
| Volatility | 25.5% | 32.3% |
| Downside Capture | 57.36 | 85.49 |
| Upside Capture | 58.27 | 27.88 |
| Correlation (SPY) | 23.5% | 29.4% |
STZ Betas & Captures as of 11/30/2025
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.39 | 0.33 | 0.37 | 0.51 | 0.47 | 0.53 |
| Up Beta | 0.02 | 0.26 | 0.35 | 0.57 | 0.57 | 0.56 |
| Down Beta | -0.10 | 0.53 | 0.39 | 0.55 | 0.32 | 0.49 |
| Up Capture | 94% | 26% | -18% | 0% | 8% | 11% |
| Bmk +ve Days | 12 | 25 | 38 | 73 | 141 | 426 |
| Stock +ve Days | 9 | 21 | 26 | 56 | 108 | 370 |
| Down Capture | 32% | 26% | 85% | 101% | 84% | 88% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 10 | 20 | 36 | 69 | 140 | 380 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of STZ With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| STZ | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -37.3% | 1.1% | 16.7% | 65.4% | 7.5% | 4.2% | -7.3% |
| Annualized Volatility | 32.0% | 13.9% | 19.4% | 19.8% | 15.3% | 17.0% | 34.9% |
| Sharpe Ratio | -1.42 | -0.16 | 0.67 | 2.43 | 0.27 | 0.08 | -0.06 |
| Correlation With Other Assets | 47.0% | 29.6% | 2.4% | -6.6% | 44.4% | 6.3% | |
ETFs used for asset classes: Sector ETF = XLP, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Comparison of STZ With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| STZ | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -7.2% | 5.6% | 14.8% | 17.7% | 11.2% | 5.1% | 30.2% |
| Annualized Volatility | 23.5% | 13.0% | 17.1% | 15.6% | 18.7% | 18.9% | 48.6% |
| Sharpe Ratio | -0.34 | 0.23 | 0.70 | 0.91 | 0.48 | 0.18 | 0.57 |
| Correlation With Other Assets | 52.7% | 40.3% | 9.9% | 8.6% | 44.0% | 11.4% | |
ETFs used for asset classes: Sector ETF = XLP, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Comparison of STZ With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| STZ | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 1.5% | 7.5% | 15.0% | 14.6% | 6.9% | 5.4% | 69.0% |
| Annualized Volatility | 26.5% | 14.6% | 18.0% | 14.8% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.09 | 0.38 | 0.72 | 0.82 | 0.31 | 0.23 | 0.89 |
| Correlation With Other Assets | 53.1% | 49.4% | 4.6% | 15.7% | 49.9% | 10.5% | |
ETFs used for asset classes: Sector ETF = XLP, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/6/2025 | 1.0% | 2.0% | -6.1% |
| 7/1/2025 | 4.5% | 3.4% | 0.4% |
| 4/9/2025 | 0.7% | -0.2% | 4.2% |
| 1/10/2025 | -17.1% | -15.8% | -24.3% |
| 10/3/2024 | -4.7% | -6.0% | -9.1% |
| 7/3/2024 | -3.3% | -2.3% | -5.2% |
| 4/11/2024 | 1.3% | -2.9% | -1.2% |
| 1/5/2024 | 2.1% | 6.2% | 2.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 11 | 14 |
| # Negative | 12 | 13 | 10 |
| Median Positive | 1.8% | 3.4% | 3.3% |
| Median Negative | -3.3% | -2.9% | -5.7% |
| Max Positive | 6.2% | 26.7% | 25.4% |
| Max Negative | -17.1% | -15.8% | -24.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 08/31/2025 | 10/07/2025 | 10-Q (08/31/2025) |
| 05/31/2025 | 07/02/2025 | 10-Q (05/31/2025) |
| 02/28/2025 | 04/23/2025 | 10-K (02/28/2025) |
| 11/30/2024 | 01/10/2025 | 10-Q (11/30/2024) |
| 08/31/2024 | 10/03/2024 | 10-Q (08/31/2024) |
| 05/31/2024 | 07/03/2024 | 10-Q (05/31/2024) |
| 02/29/2024 | 04/23/2024 | 10-K (02/29/2024) |
| 11/30/2023 | 01/05/2024 | 10-Q (11/30/2023) |
| 08/31/2023 | 10/05/2023 | 10-Q (08/31/2023) |
| 05/31/2023 | 06/30/2023 | 10-Q (05/31/2023) |
| 02/28/2023 | 04/20/2023 | 10-K (02/28/2023) |
| 11/30/2022 | 01/05/2023 | 10-Q (11/30/2022) |
| 08/31/2022 | 10/06/2022 | 10-Q (08/31/2022) |
| 05/31/2022 | 06/30/2022 | 10-Q (05/31/2022) |
| 02/28/2022 | 04/21/2022 | 10-K (02/28/2022) |
| 11/30/2021 | 01/06/2022 | 10-Q (11/30/2021) |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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