Tearsheet

Constellation Brands (STZ)

Market Price (12/15/2025): $147.82 | Market Cap: $26.0 Bil
Sector: Consumer Staples | Industry: Distillers & Vintners

Constellation Brands (STZ)

Market Price (12/15/2025): $147.82
Market Cap: $26.0 Bil
Sector: Consumer Staples
Industry: Distillers & Vintners

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.7%, FCF Yield is 7.8%	Weak multi-year price returns 2Y Excs Rtn is -83%, 3Y Excs Rtn is -110%	Weak revenue growth Rev 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%
1	Attractive cash flow generation CFO/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
2	Low stock price volatility Vol 12M is 32%
3	Megatrend and thematic drivers Megatrends include Experience Economy & Premiumization, E-commerce & Digital Retail, and Health & Wellness Trends. Themes include Luxury Consumer Goods, Show more.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.7%, FCF Yield is 7.8%
1	Attractive cash flow generation CFO/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
2	Low stock price volatility Vol 12M is 32%
3	Megatrend and thematic drivers Megatrends include Experience Economy & Premiumization, E-commerce & Digital Retail, and Health & Wellness Trends. Themes include Luxury Consumer Goods, Show more.
4	Weak multi-year price returns 2Y Excs Rtn is -83%, 3Y Excs Rtn is -110%
5	Weak revenue growth Rev 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%

Valuation, Metrics & Events

	12/15/25	2024	2023	2022
Share Price CYE	$147.82	$215.53	$232.02	$219.23
Market Cap CYE ($ Bil)	26.0	39.1	42.6	41.6
Total Debt ($ Bil)	10.5	12.1	12.6	13.0
Total Cash ($ Bil)	0.1	0.1	0.2	0.1
Enterprise Value ($ Bil)	36.5	51.2	55.2	54.6
Valuation Ratios
P/S TTM	2.5	3.9	4.5	4.7
P/EBIT TTM	11.2	122.0	16.7	55.3
P/E TTM	19.4	-492.7	25.6	-628.5
Sector Ratios
P/S TTM (Sector)	11.4	10.5	8.0	5.0
P/EBIT TTM (Sector)	29.1	31.2	26.5	17.6
P/E TTM (Sector)	37.5	39.9	36.4	22.9

	12/15/25	2024
Share Price CYE	$147.82	$215.53
Market Cap CYE ($ Bil)	26.0	39.1
Total Debt ($ Bil)	10.5	12.1
Total Cash ($ Bil)	0.1	0.1
Enterprise Value ($ Bil)	36.5	51.2
Valuation Ratios
P/S TTM	2.5	3.9
P/EBIT TTM	11.2	122.0
P/E TTM	19.4	-492.7
Sector Ratios
P/S TTM (Sector)	11.4	10.5
P/EBIT TTM (Sector)	29.1	31.2
P/E TTM (Sector)	37.5	39.9

	STZ	S&P 500
REVENUE GROWTH	VERY POOR
Rev LTM ($ Bil)	9.6
Rev Chg Q	-15.0%	15.9%
Rev Chg LTM	-5.6%	13.2%
Rev Chg 3Y Avg	0.7%	12.2%
PROFITABILITY	GOOD
Op Inc LTM ($ Bil)	3.0
CFO LTM ($ Bil)	2.8
Net Inc LTM ($ Bil)	1.2
Op Mgn LTM	31.6%	37.5%
CFO/Rev LTM	28.8%	35.5%
Net Inc Mgn	12.7%	27.6%
VALUATION	MODERATE
P/S	2.5	11.4
P/CFO	8.6	30.6
P/FCF	12.8	54.0
P/E	19.4	37.5
STABILITY	POOR
Debt/Equity	0.44	0.03
Cash/Assets	0.00	0.16

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Metric	Value	Date	Source
Beer Segment Shipment Volume Growth	-8.7%	8312025	Link
Beer Segment Depletion Volume Growth	-2.7%	8312025	Link
Wine and Spirits Segment Shipment Volume Growth	-76.4%	8312025	Link
Wine and Spirits Segment Depletion Volume Growth	nearly 2%	8312025	Link
Beer Brands Market Share	Third-largest market share of all major beer suppliers	11052025	Link
Modelo Especial Depletion Volume Growth	-4%	8312025	Link
Corona Extra Depletion Volume Growth	-7%	8312025	Link
Pacifico Depletion Volume Growth	13%	8312025	Link
Victoria Depletion Volume Growth	19%	8312025	Link

Upcoming
1/07/2026	Earnings Release	Rev: $2.0 Bil (E) EPS: $2.67 (E)
4/07/2026	Earnings Release	Rev: - EPS: -

STZ Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Generated Analysis | Feedback

Here are the key points for why Constellation Brands (STZ) stock moved in the approximate time period from August 31, 2025, to December 15, 2025: 1. 1. Fiscal 2026 Guidance Cut: In early September 2025, Constellation Brands significantly reduced its fiscal 2026 guidance across the board. The company lowered its outlook for beer net sales to a decline of 2% to 4% (from an earlier forecast of flat to 3% growth) and for overall organic net sales to a decrease of 4% to 6%. This reduction also included a cut in its adjusted earnings-per-share forecast from a range of $12.60-$12.90 to $11.30-$11.60. This news alone caused the stock to fall by 17% in September. 2. 2. Weak Consumer Demand and Macroeconomic Headwinds: The primary reason cited for the revised guidance was a "challenging macroeconomic environment" and "dampened consumer demand." Specifically, the company noted a more pronounced decline in purchases of high-end beer among Hispanic consumers. These persistent pressures on consumer spending continued to weigh on the stock's performance. 3. 3. Q2 Fiscal 2026 Earnings and Full-Year Guidance Confirmation: While Constellation Brands reported second-quarter fiscal 2026 results (for the period ending August 31, 2025) on October 6, 2025, that "beat" analyst expectations, the company simultaneously reaffirmed its lowered full-year guidance. This confirmation of a weaker outlook, despite the Q2 beat, continued to negatively impact investor sentiment, highlighting ongoing concerns about revenue growth if spending by core consumers failed to recover. 4. 4. Analyst Downgrades and Price Target Reductions: Following the updated guidance and ongoing market concerns, several analysts downgraded Constellation Brands' stock and reduced their price targets. For example, in September 2025, Bank of America decreased its price target from $150.00 to $142.00 and issued an "underperform" rating. In October 2025, BNP Paribas Exane downgraded the stock to "underperform" with a $123 price target, citing structural demand issues. Piper Sandler also lowered its price objective from $155.00 to $135.00 in November 2025. 5. 5. Concerns Over Financial Strength and Growth Prospects: Analysis in December 2025 highlighted diminished rankings in Constellation Brands' financial strength, growth, and valuation, suggesting potential underperformance. Concerns included a 5.6% drop in revenue over the last twelve months, a low cash-to-debt ratio, and a debt-to-EBITDA ratio above warning levels, indicating potential financial struggles and limited future growth prospects.

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Stock Movement Drivers

Fundamental Drivers

The 6.5% change in STZ stock from 9/14/2025 to 12/14/2025 was primarily driven by a 10.1% change in the company's P/S Multiple.

	9142025	12142025	Change
Stock Price ($)	138.40	147.42	6.51%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	10061.90	9624.00	-4.35%
P/S Multiple	2.45	2.69	10.12%
Shares Outstanding (Mil)	177.80	175.82	1.11%
Cumulative Contribution			6.50%

LTM = Last Twelve Months as of date shown

Market Drivers

9/14/2025 to 12/14/2025

	Return	Correlation
STZ	6.5%
Market (SPY)	3.7%	24.3%
Sector (XLP)	-1.1%	27.7%

Fundamental Drivers

The -9.4% change in STZ stock from 6/15/2025 to 12/14/2025 was primarily driven by a -6.1% change in the company's P/S Multiple.

	6152025	12142025	Change
Stock Price ($)	162.65	147.42	-9.36%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	10208.70	9624.00	-5.73%
P/S Multiple	2.87	2.69	-6.06%
Shares Outstanding (Mil)	179.94	175.82	2.29%
Cumulative Contribution			-9.41%

LTM = Last Twelve Months as of date shown

Market Drivers

6/15/2025 to 12/14/2025

	Return	Correlation
STZ	-9.4%
Market (SPY)	14.5%	20.0%
Sector (XLP)	-1.2%	40.7%

Fundamental Drivers

The -36.9% change in STZ stock from 12/14/2024 to 12/14/2025 was primarily driven by a -71.1% change in the company's P/E Multiple.

	12142024	12142025	Change
Stock Price ($)	233.73	147.42	-36.93%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	10190.80	9624.00	-5.56%
Net Income Margin (%)	5.69%	12.70%	123.42%
P/E Multiple	73.38	21.20	-71.11%
Shares Outstanding (Mil)	181.95	175.82	3.37%
Cumulative Contribution			-37.00%

LTM = Last Twelve Months as of date shown

Market Drivers

12/14/2024 to 12/14/2025

	Return	Correlation
STZ	-36.9%
Market (SPY)	13.9%	30.2%
Sector (XLP)	-1.3%	49.4%

Fundamental Drivers

The -33.8% change in STZ stock from 12/15/2022 to 12/14/2025 was primarily driven by a -94.6% change in the company's P/E Multiple.

	12152022	12142025	Change
Stock Price ($)	222.69	147.42	-33.80%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	9441.40	9624.00	1.93%
Net Income Margin (%)	1.11%	12.70%	1047.85%
P/E Multiple	394.09	21.20	-94.62%
Shares Outstanding (Mil)	184.94	175.82	4.93%
Cumulative Contribution			-33.96%

LTM = Last Twelve Months as of date shown

Market Drivers

12/15/2023 to 12/14/2025

	Return	Correlation
STZ	-35.0%
Market (SPY)	48.0%	27.5%
Sector (XLP)	16.9%	51.5%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
STZ Return	17%	16%	-6%	6%	-7%	-31%	-13%
Peers Return	35%	18%	-6%	2%	-28%	-23%	-16%
S&P 500 Return	16%	27%	-19%	24%	23%	16%	111%
Monthly Win Rates [3]
STZ Win Rate	67%	58%	58%	58%	50%	42%
Peers Win Rate	52%	50%	56%	52%	35%	40%
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	-36%	-15%	-21%	-13%	-36%	-32%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: TAP, SAM, MGPI, WVVI. 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 12/12/2025 (YTD)

How Low Can It Go

Unique Key	Event	STZ	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-20.1%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	25.1%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	195 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-49.3%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	97.2%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	255 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-35.6%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	55.2%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	763 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-62.8%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	168.7%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	1339 days	1480 days

Compare to TAP, SAM, HLF, AGCC, STZ

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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About Constellation Brands (STZ)

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.

AI Generated Analysis | Feedback

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.

AI Generated Analysis | Feedback

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.

AI Generated Analysis | Feedback

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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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.

Better Bets than Constellation Brands (STZ)

	STZ	Better Performance than STZ
Metric	Value	INDUSTRY: Distillers & Vintners
Rev Chg LTM	-5.6%	AMZE (370.0%), IPST (9.5%), SNDL (4.4%), BF-B (-4.7%), WVVI (-4.8%)
Rev Chg 3Y Avg	0.7%	AMZE (85.6%), SNDL (29.3%), WVVI (6.1%)
Op Mgn LTM	31.6%
CFO/Rev LTM	28.8%
FCF/Rev LTM	19.2%
Total Yield	6.7%	IPST (4962.9%), BF-B (9.7%)
P/S	2.5	IPST (0.4), WVVI (0.5), SNDL (0.8), MGPI (0.9)
P/Op Inc	7.8	MGPI (4.7)

	STZ	Better Performance than STZ
Metric	Value	SECTOR: Consumer Staples
Rev Chg LTM	-5.6%	COST (8.2%), PM (7.5%), WMT (4.3%), KO (2.8%), PG (1.2%)
Rev Chg 3Y Avg	0.7%	PM (8.0%), COST (6.6%), WMT (5.4%), KO (4.0%), PG (1.8%)
Op Mgn LTM	31.6%	MO (59.0%), PM (37.1%), CALM (36.4%)
CFO/Rev LTM	28.8%	ALCO (45.7%), MO (43.8%), CALM (31.5%), EWCZ (29.2%), PM (28.8%)
FCF/Rev LTM	19.2%	MO (43.1%), PM (25.3%), CELH (24.6%), MNST (24.4%), CART (24.2%)
Total Yield	6.7%	MO (14.1%), PEP (7.7%), KO (7.5%), MDLZ (7.4%), PM (6.8%)
P/S	2.5	WMT (1.2), COST (1.5), BUD (2.0), PEP (2.1), MDLZ (2.1)
P/Op Inc	7.8	TAP (5.4), PPC (5.5), ACI (6.3), KHC (6.3), BUD (7.7)

	STZ	Better Performance than STZ
Metric	Value	ALL OTHER SECTORS
Rev Chg LTM	-5.6%	NVDA (65.2%), MSFT (15.6%), GOOGL (13.4%), AMZN (10.9%), AAPL (6.0%)
Rev Chg 3Y Avg	0.7%	NVDA (91.6%), MSFT (13.2%), AMZN (11.3%), GOOGL (11.0%), AAPL (1.8%)
Op Mgn LTM	31.6%	NVDA (58.8%), MSFT (46.3%), AVGO (39.0%), GOOGL (32.2%), AAPL (31.9%)
CFO/Rev LTM	28.8%	META (56.8%), MSFT (50.0%), NVDA (44.4%), AVGO (42.4%), GOOGL (39.3%)
FCF/Rev LTM	19.2%	AVGO (41.6%), NVDA (41.3%), MSFT (26.6%), META (23.7%), AAPL (23.5%)
Total Yield	6.7%	WFC (9.9%), XOM (9.8%), JNJ (8.4%), UNH (8.1%), BAC (7.7%)
P/S	2.5	UNH (0.7), XOM (1.5), CVX (1.6), HD (2.1), C (2.2)
P/Op Inc	7.8	CMCSA (5.2), VZ (5.9), SU (6.4), GM (7.1), CNQ (7.4)

		Best Bets In Consumer Staples Sector
	STZ	MO	PM	MNST	PG	STZ	CL	HSY	KO	COCO	KVUE
What You Pay
P/E	19.4	12.7	29.3	38.1	21.5	19.4	22.3	24.8	21.9	34.9	21.7
P/EBIT	11.2	9.5	16.5	29.0	16.4	11.2	15.4	19.9	16.3	32.8	13.3
What You Get
Rev Chg Q	-15.0%	0.2%	9.4%	16.8%	3.0%	-15.0%	1.0%	26.0%	5.1%	37.2%	-3.5%
Rev Chg LTM	-5.6%	-0.2%	7.5%	7.6%	1.2%	-5.6%	0.1%	2.5%	2.8%	23.1%	-2.9%
Rev Chg 3Y Avg	0.7%	-0.9%	8.0%	8.6%	1.8%	0.7%	4.2%	5.2%	4.0%	13.3%	0.2%
FCF/Rev 3Y Avg	17.0%	42.7%	24.9%	22.0%	18.0%	17.0%	15.4%	13.9%	13.9%	13.1%	11.9%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 8.7%, alpha of 1.4%, and sharpe of 0.5

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	Constellation Brands Earnings Notes
2	Would You Still Hold Constellation Brands Stock If It Fell 30%?	Return
3	Better Bet Than STZ Stock: Pay Less Than Constellation Brands To Get More From UNH, HCA
4	Better Bet Than STZ Stock: Pay Less Than Constellation Brands To Get More From PPC, POST
5	Why Constellation Brands Stock Moved: STZ Stock Has Lost 37% Since 2021 Fiscal End, Primarily Due To Unfavorable Change In Price To Sales Multiple (P/S)
6	STZ Dip Buy Analysis
7	Constellation Brands Total Shareholder Return (TSR): -28.1% in 2025 and -4.4% 3-yr compounded annual returns (above peer average)
8	Constellation Brands (STZ) Operating Cash Flow Comparison	Financials
9	Constellation Brands (STZ) Net Income Comparison	Financials
10	Constellation Brands (STZ) Operating Income Comparison	Financials
11	ARTICLES
12	How Will Constellation Brands Stock React To Its Upcoming Earnings?		October 2nd, 2025
13	STZ Lost 19% In A Month. Do You Buy Or Wait?		September 23rd, 2025
14	S&P 500 Stocks Trading At 52-Week Low		September 22nd, 2025
15	STZ Stock Down -7% after 6-Day Loss Streak		September 22nd, 2025
16	Stocks Trading At 52-Week Low		September 19th, 2025

	Title
0	DASHBOARDS
1	Constellation Brands Earnings Notes
2	Would You Still Hold Constellation Brands Stock If It Fell 30%?
3	Better Bet Than STZ Stock: Pay Less Than Constellation Brands To Get More From UNH, HCA
4	Better Bet Than STZ Stock: Pay Less Than Constellation Brands To Get More From PPC, POST
5	Why Constellation Brands Stock Moved: STZ Stock Has Lost 37% Since 2021 Fiscal End, Primarily Due To Unfavorable Change In Price To Sales Multiple (P/S)
6	STZ Dip Buy Analysis
7	Constellation Brands Total Shareholder Return (TSR): -28.1% in 2025 and -4.4% 3-yr compounded annual returns (above peer average)
8	Constellation Brands (STZ) Operating Cash Flow Comparison
9	Constellation Brands (STZ) Net Income Comparison
10	Constellation Brands (STZ) Operating Income Comparison
11	ARTICLES
12	How Will Constellation Brands Stock React To Its Upcoming Earnings?
13	STZ Lost 19% In A Month. Do You Buy Or Wait?
14	S&P 500 Stocks Trading At 52-Week Low
15	STZ Stock Down -7% after 6-Day Loss Streak
16	Stocks Trading At 52-Week Low

Trade Ideas

Select past ideas related to STZ. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
BF-B_11302025_Dip_Buyer_ValueBuy	11302025	BF-B	Brown-Forman	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	7.0%	7.0%	0.0%
CPB_11302025_Dip_Buyer_ValueBuy	11302025	CPB	Campbell's	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-5.7%	-5.7%	-7.5%
ENR_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	ENR	Energizer	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	12.9%	12.9%	-5.3%
FLO_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	FLO	Flowers Foods	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	4.7%	4.7%	-1.6%
CLX_11142025_Dip_Buyer_FCFYield	11142025	CLX	Clorox	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	0.3%	0.3%	-5.1%
STZ_7312025_Monopoly_xInd_xCD_Getting_Cheaper	07312025	STZ	Constellation Brands	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	-11.1%	-11.1%	-23.0%
STZ_1312025_Monopoly_xInd_xCD_Getting_Cheaper	01312025	STZ	Constellation Brands	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	-6.5%	-16.4%	-27.6%
STZ_4302020_Monopoly_xInd_xCD_Getting_Cheaper	04302020	STZ	Constellation Brands	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	1.6%	48.3%	-5.2%
STZ_12312018_Dip_Buyer_ValueBuy	12312018	STZ	Constellation Brands	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	22.9%	19.8%	-6.1%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
BF-B_11302025_Dip_Buyer_ValueBuy	11302025	BF-B	Brown-Forman	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	7.0%	7.0%	0.0%
CPB_11302025_Dip_Buyer_ValueBuy	11302025	CPB	Campbell's	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-5.7%	-5.7%	-7.5%
ENR_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	ENR	Energizer	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	12.9%	12.9%	-5.3%
FLO_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	FLO	Flowers Foods	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	4.7%	4.7%	-1.6%
CLX_11142025_Dip_Buyer_FCFYield	11142025	CLX	Clorox	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	0.3%	0.3%	-5.1%
STZ_7312025_Monopoly_xInd_xCD_Getting_Cheaper	07312025	STZ	Constellation Brands	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	-11.1%	-11.1%	-23.0%
STZ_1312025_Monopoly_xInd_xCD_Getting_Cheaper	01312025	STZ	Constellation Brands	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	-6.5%	-16.4%	-27.6%
STZ_4302020_Monopoly_xInd_xCD_Getting_Cheaper	04302020	STZ	Constellation Brands	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	1.6%	48.3%	-5.2%
STZ_12312018_Dip_Buyer_ValueBuy	12312018	STZ	Constellation Brands	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	22.9%	19.8%	-6.1%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
TLRY	Tilray Brands	12.9	44.1%	-8.6%
RZLT	Rezolute	0.2	28.6%	-63.3%
CRON	Cronos	1.3	14.7%	61.9%
YOU	Clear Secure	4.0	13.3%	58.5%
RIVN	Rivian Automotive	22.5	12.1%	38.5%
EVCM	EverCommerce	2.2	10.9%	9.7%
LULU	Lululemon Athletica	24.5	9.6%	-46.4%
NX	Quanex Building Products	0.8	9.5%	-30.9%
OXM	Oxford Industries	0.5	9.4%	-53.1%
IIPR	Innovative Industrial Properties	1.6	8.9%	-5.9%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
FRMI	Fermi	7.1	-33.8%
LENZ	LENZ Therapeutics	0.5	-26.0%	-37.2%
AIP	Arteris	0.7	-17.2%	59.9%
MOD	Modine Manufacturing	7.4	-15.3%	20.7%
FBYD	Falcons Beyond Global	0.4	-15.2%	40.7%
OKLO	Oklo	12.2	-15.1%	311.8%
SEI	Solaris Energy Infrastructure	2.0	-14.8%	62.6%
SNDK	SanDisk	30.1	-14.7%
NXDR	Nextdoor	0.9	-14.4%
RCUS	Arcus Biosciences	2.3	-14.4%	44.6%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
WVE	WAVE Life Sciences	2.7	121.1%	33.9%
TLRY	Tilray Brands	12.9	65.3%	-8.6%
TERN	Terns Pharmaceuticals	4.1	53.3%	712.3%
PLAB	Photronics	2.1	50.4%	54.1%
FULC	Fulcrum Therapeutics	0.8	46.1%	176.6%
WRBY	Warby Parker	3.4	46.0%	13.2%
PL	Planet Labs PBC	5.5	42.8%	351.5%
ALEX	Alexander & Baldwin	1.5	37.5%	22.5%
KYMR	Kymera Therapeutics	7.8	34.6%	122.9%
CRON	Cronos	1.3	31.3%	61.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
RZLT	Rezolute	0.2	-82.7%	-63.3%
FBYD	Falcons Beyond Global	0.4	-44.0%	40.7%
FRMI	Fermi	7.1	-33.4%
LENZ	LENZ Therapeutics	0.5	-32.1%	-37.2%
GOGO	Gogo	0.7	-27.9%	-37.1%
ELVN	Enliven Therapeutics	0.9	-22.7%	-25.1%
CRK	Comstock Resources	6.3	-20.8%	18.9%
BE	Bloom Energy	22.3	-20.3%	327.6%
PHR	Phreesia	1.0	-19.9%	-35.4%
MVST	Microvast	1.0	-19.7%	45.4%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
OLMA	Olema Pharmaceuticals	2.8	310.0%	466.9%
WVE	WAVE Life Sciences	2.7	138.1%	33.9%
TERN	Terns Pharmaceuticals	4.1	121.7%	712.3%
ALMS	Alumis	0.9	119.3%	46.2%
CDTX	Cidara Therapeutics	5.9	106.0%	720.9%
SGML	Sigma Lithium	1.2	87.2%	-2.6%
ANNX	Annexon	0.7	75.0%	-3.1%
NUVB	Nuvation Bio	2.9	71.0%	216.9%
ARWR	Arrowhead Pharmaceuticals	9.7	69.2%	272.8%
SVRA	Savara	1.5	68.0%	125.4%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.2	-82.0%	-63.3%
FRMI	Fermi	7.1	-53.6%
JANX	Janux Therapeutics	0.9	-46.4%	-71.4%
UP	Wheels Up Experience	0.5	-41.9%	-57.4%
AGIO	Agios Pharmaceuticals	1.6	-37.5%	-17.0%
ARDT	Ardent Health	1.2	-37.4%	-48.5%
CTEV	Claritev	0.6	-36.1%
METC	Ramaco Resources	1.0	-35.9%	54.3%
QURE	uniQure	1.1	-35.2%	10.5%
IBTA	Ibotta	0.6	-34.6%	-67.1%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
TLRY	Tilray Brands	12.9	44.1%	-8.6%
RZLT	Rezolute	0.2	28.6%	-63.3%
CRON	Cronos	1.3	14.7%	61.9%
YOU	Clear Secure	4.0	13.3%	58.5%
RIVN	Rivian Automotive	22.5	12.1%	38.5%
EVCM	EverCommerce	2.2	10.9%	9.7%
LULU	Lululemon Athletica	24.5	9.6%	-46.4%
NX	Quanex Building Products	0.8	9.5%	-30.9%
OXM	Oxford Industries	0.5	9.4%	-53.1%
IIPR	Innovative Industrial Properties	1.6	8.9%	-5.9%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
FRMI	Fermi	7.1	-33.8%
LENZ	LENZ Therapeutics	0.5	-26.0%	-37.2%
AIP	Arteris	0.7	-17.2%	59.9%
MOD	Modine Manufacturing	7.4	-15.3%	20.7%
FBYD	Falcons Beyond Global	0.4	-15.2%	40.7%
OKLO	Oklo	12.2	-15.1%	311.8%
SEI	Solaris Energy Infrastructure	2.0	-14.8%	62.6%
SNDK	SanDisk	30.1	-14.7%
NXDR	Nextdoor	0.9	-14.4%
RCUS	Arcus Biosciences	2.3	-14.4%	44.6%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
WVE	WAVE Life Sciences	2.7	121.1%	33.9%
TLRY	Tilray Brands	12.9	65.3%	-8.6%
TERN	Terns Pharmaceuticals	4.1	53.3%	712.3%
PLAB	Photronics	2.1	50.4%	54.1%
FULC	Fulcrum Therapeutics	0.8	46.1%	176.6%
WRBY	Warby Parker	3.4	46.0%	13.2%
PL	Planet Labs PBC	5.5	42.8%	351.5%
ALEX	Alexander & Baldwin	1.5	37.5%	22.5%
KYMR	Kymera Therapeutics	7.8	34.6%	122.9%
CRON	Cronos	1.3	31.3%	61.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
RZLT	Rezolute	0.2	-82.7%	-63.3%
FBYD	Falcons Beyond Global	0.4	-44.0%	40.7%
FRMI	Fermi	7.1	-33.4%
LENZ	LENZ Therapeutics	0.5	-32.1%	-37.2%
GOGO	Gogo	0.7	-27.9%	-37.1%
ELVN	Enliven Therapeutics	0.9	-22.7%	-25.1%
CRK	Comstock Resources	6.3	-20.8%	18.9%
BE	Bloom Energy	22.3	-20.3%	327.6%
PHR	Phreesia	1.0	-19.9%	-35.4%
MVST	Microvast	1.0	-19.7%	45.4%

Peer Comparisons for Constellation Brands

Peers to compare with:

Financials

	STZ	TAP	SAM	MGPI	WVVI	Median
Name	Constell.	Molson C.	Boston B.	MGP Ingr.	Willamet.
Mkt Price	147.42	47.60	203.03	26.01	2.94	47.60
Mkt Cap	25.9	9.4	2.2	0.6	0.0	2.2
Rev LTM	9,624	11,214	1,982	579	37	1,982
Op Inc LTM	3,042	1,661	158	110	-1	158
FCF LTM	1,848	1,093	212	62	-3	212
FCF 3Y Avg	1,677	1,202	174	37	-5	174
CFO LTM	2,769	1,738	272	121	-3	272
CFO 3Y Avg	2,841	1,872	240	98	-2	240

Growth & Margins

	STZ	TAP	SAM	MGPI	WVVI	Median
Name	Constell.	Molson C.	Boston B.	MGP Ingr.	Willamet.
Rev Chg LTM	-5.6%	-4.0%	-1.1%	-21.5%	-4.8%	-4.8%
Rev Chg 3Y Avg	0.7%	1.7%	-0.1%	-7.9%	6.1%	0.7%
Rev Chg Q	-15.0%	-2.3%	-11.2%	-18.9%	-10.9%	-11.2%
QoQ Delta Rev Chg LTM	-4.4%	-0.6%	-3.3%	-5.0%	-2.7%	-3.3%
Op Mgn LTM	31.6%	14.8%	8.0%	18.9%	-2.4%	14.8%
Op Mgn 3Y Avg	31.7%	14.6%	7.3%	20.4%	-1.7%	14.6%
QoQ Delta Op Mgn LTM	-0.1%	-0.2%	-1.0%	-1.5%	-2.9%	-1.0%
CFO/Rev LTM	28.8%	15.5%	13.7%	20.9%	-6.8%	15.5%
CFO/Rev 3Y Avg	28.8%	16.3%	11.9%	14.6%	-6.2%	14.6%
FCF/Rev LTM	19.2%	9.8%	10.7%	10.7%	-8.8%	10.7%
FCF/Rev 3Y Avg	17.0%	10.5%	8.7%	5.8%	-13.8%	8.7%

Valuation

	STZ	TAP	SAM	MGPI	WVVI	Median
Name	Constell.	Molson C.	Boston B.	MGP Ingr.	Willamet.
Mkt Cap	25.9	9.4	2.2	0.6	0.0	2.2
P/S	2.5	0.8	1.2	0.9	0.5	0.9
P/EBIT	11.2	5.5	14.5	44.4	-	12.9
P/E	19.4	-4.3	24.9	-34.2	-14.3	-4.3
P/CFO	8.6	5.2	8.4	4.3	-7.0	5.2
Total Yield	6.7%	-19.1%	4.0%	-2.4%	-7.0%	-2.4%
Dividend Yield	1.5%	4.2%	0.0%	0.5%	0.0%	0.5%
FCF Yield 3Y Avg	4.9%	10.6%	5.7%	4.9%	-	5.3%
D/E	0.4	0.7	0.0	0.5	-	0.5
Net D/E	0.4	0.6	-0.1	0.5	-	0.5

Returns

	STZ	TAP	SAM	MGPI	WVVI	Median
Name	Constell.	Molson C.	Boston B.	MGP Ingr.	Willamet.
1M Rtn	14.1%	3.6%	2.4%	3.9%	10.1%	3.9%
3M Rtn	6.5%	-0.7%	-6.3%	-6.6%	-41.2%	-6.3%
6M Rtn	-9.4%	-4.0%	-2.6%	-10.3%	-48.9%	-9.4%
12M Rtn	-36.9%	-19.2%	-35.5%	-41.5%	-10.7%	-35.5%
3Y Rtn	-33.8%	1.2%	-41.2%	-76.0%	-51.4%	-41.2%
1M Excs Rtn	13.4%	5.0%	1.4%	-0.2%	14.3%	5.0%
3M Excs Rtn	6.5%	-2.6%	-8.8%	-9.1%	-38.4%	-8.8%
6M Excs Rtn	-23.6%	-18.3%	-16.9%	-24.5%	-63.1%	-23.6%
12M Excs Rtn	-50.8%	-33.0%	-49.0%	-55.9%	-22.7%	-49.0%
3Y Excs Rtn	-110.4%	-74.9%	-117.0%	-150.6%	-124.8%	-117.0%

Comparison Analyses

	Title
0	SAM Looks Stronger Than STZ With 5.7% Return Potential
1	Why HLF With 11% Upside May Beat STZ?
2	TAP Could Deliver 13% Returns And Outperform STZ
3	Constellation Brands vs. Activision Blizzard: Similar Revenue, Similar Bets
4	Constellation Brands vs. Zoetis: Similar Revenue, But Zoetis Is A Better Bet
5	Constellation Brands vs. Global Payments: Similar Revenue, Similar Bets
6	Constellation Brands vs. Intuit: Similar Revenue, But Constellation Brands Is A Better Bet
7	Constellation Brands vs. Intuitive Surgical: Similar Income, But Constellation Brands Is A Better Bet
8	Constellation Brands vs. Veeva Systems: Similar Market Cap, But Constellation Brands Is A Better Bet
9	Constellation Brands vs. eBay: Similar Market Cap, But Constellation Brands Is A Better Bet

Financials

Annual
Quarterly

$ Mil \| FY: 2/28	LTM	2025	2024	2023	2022	2021	2020
Period End	8/31/2025	2/28/2025	2/29/2024	2/28/2023	2/28/2022	2/28/2021	2/29/2020
Filing Date	10/7/2025	4/23/2025	4/23/2024	4/20/2023	4/21/2022	4/20/2021	4/21/2020
Key Financials
Total Revenue	9,624	10,209	9,962	9,453	8,821	8,615	8,344
EBITDA	2,552	774	3,086	1,190	1,004	3,222	-190
Operating Income	3,042	3,365	3,185	2,841	2,998	2,791	2,530
Net Income	1,223	-81	1,727	-71	-40	1,998	-12
EPS	6.86	-0.45	9.42	-0.11	-0.22	10.44	-0.07
Growth Rates
Total Revenue Growth	-5.6%	2.5%	5.4%	7.2%	2.4%	3.3%	2.8%
EBITDA Growth	61.3%	-74.9%	159.2%	18.5%	-68.8%	1796.0%	-103.9%
Operating Income Growth	-10.6%	5.6%	12.1%	-5.2%	7.4%	10.3%	4.9%
Net Income Growth	111.0%	-104.7%	2533.0%	-75.7%	-102.0%	17032.2%	-100.3%
Margins
EBITDA Margin	26.5%	7.6%	31.0%	12.6%	11.4%	37.4%	-2.3%
Operating Income Margin	31.6%	33.0%	32.0%	30.1%	34.0%	32.4%	30.3%
Net Income Margin	12.7%	-0.8%	17.3%	-0.8%	-0.5%	23.2%	-0.1%
Cash & Debt
Total Cash	72	68	152	134	199	461	81
Total Debt	10,545	12,114	12,558	12,960	10,954	10,982	12,745
Net Debt / (Cash)	10,473	12,045	12,405	12,827	10,755	10,522	12,663
Cash Flows
Net Cash from Operations	2,769	3,152	2,780	2,757	2,705	2,806	2,551
Free Cash from Operations	1,848	1,938	1,511	1,722	1,679	1,942	1,825
Returns to Shareholders
Dividends	724	732	654	588	573	575	569
Share Repurchases	1,279	1,124	250	3,200	1,390	-0	50

$ Mil \| FY: 2/28	2026Q2	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3
Period End	8/31/2025	5/31/2025	2/28/2025	11/30/2024	8/31/2024	5/31/2024	2/29/2024	11/30/2023	8/31/2023	5/31/2023	2/28/2023	11/30/2022
Filing Date	10/7/2025	7/2/2025	4/23/2025	1/10/2025	10/3/2024	7/3/2024	4/23/2024	1/5/2024	10/5/2023	6/30/2023	4/20/2023	1/5/2023
Key Financials Quarterly
Total Revenue	2,481	2,515	2,164	2,464	2,919	2,662	2,139	2,471	2,837	2,515	1,998	2,436
Ebitda	975	817	-136	897	-1,120	1,137	701	863	1,067	455	503	804
Operating Income	874	766	609	793	1,021	942	644	797	979	765	465	747
Net Income	466	516	-375	616	-1,199	877	392	509	690	136	223	468
EPS	2.65	2.90	-2.09	3.40	-6.59	4.80	2.15	2.77	3.76	0.74	1.21	2.58
Key Financials TTM
Total Revenue TTM	9,624	10,062	10,209	10,184	10,191	10,109	9,962	9,820	9,786	9,604	9,453	9,557
Ebitda TTM	2,552	458	778	1,616	1,582	3,768	3,086	2,888	2,829	939	1,190	1,360
Operating Income TTM	3,042	3,189	3,365	3,400	3,404	3,362	3,185	3,005	2,955	2,789	2,841	3,054
Net Income TTM	1,223	-442	-81	686	580	2,468	1,727	1,558	1,517	-325	-71	101
Growth Rates Quarterly
Total Revenue Growth	-15.0%	-5.5%	1.2%	-0.3%	2.9%	5.8%	7.1%	1.4%	6.8%	6.4%	-5.0%	5.0%
EBITDA Growth	187.0%	-28.1%	-119.5%	3.9%	-204.9%	150.2%	39.3%	7.3%	229.6%	-35.6%	-25.2%	6.6%
Operating Income Growth	-14.4%	-18.7%	-5.4%	-0.5%	4.3%	23.1%	38.7%	6.7%	20.4%	-6.3%	-31.4%	-11.1%
Net Income Growth	138.9%	-41.2%	-195.6%	21.0%	-273.8%	545.3%	76.0%	8.9%	159.9%	-65.1%	-43.6%	-0.7%
Margins Quarterly
EBITDA Margin	39.3%	32.5%	-6.3%	36.4%	-38.4%	42.7%	32.8%	34.9%	37.6%	18.1%	25.2%	33.0%
Operating Income Margin	35.2%	30.5%	28.2%	32.2%	35.0%	35.4%	30.1%	32.3%	34.5%	30.4%	23.3%	30.6%
Net Income Margin	18.8%	20.5%	-17.3%	25.0%	-41.1%	32.9%	18.3%	20.6%	24.3%	5.4%	11.2%	19.2%
Cash & Debt
Total Cash	72	74	68	74	65	74	152	79	83	192	134	185
Total Debt	10,545	11,567	12,114	12,120	12,165	11,882	12,558	11,698	11,706	12,357	12,960	12,172
Net Debt / (Cash)	10,473	11,493	12,045	12,046	12,100	11,808	12,405	11,620	11,623	12,164	12,827	11,987
Cash Flows Quarterly
FCF from Operations	852	637	595	685	1,182	690	433	725	957	665	476	626
Cash Flows TTM
FCF from Operations TTM	2,769	3,099	3,152	2,991	3,030	2,805	2,780	2,823	2,725	2,664	2,757	2,542
Returns to Shareholders Quarterly
Dividends	179	182	180	183	183	185	163	164	164	164	147	146
Share Repurchases	298	306	456	219	249	200	-0	215	-0	35	300	1,500
Return on Invested Capital (ROIC) Quarterly
ROIC	20.7%	22.8%	20.2%	24.6%	29.9%	30.9%	17.1%	22.0%	27.8%	15.2%	12.6%	19.6%
Return on Invested Capital (ROIC) TTM
ROIC TTM	21.4%	27.7%	10.5%	27.9%	24.5%	24.6%	20.4%	20.6%	20.2%	22.9%	22.1%	5.9%

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

Operating Income by Segment

$ 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	$147.42
Market Cap ($ Bil)	25.9
First Trading Date	03/17/1992
Distance from 52W High	-36.9%
	50 Days	200 Days
DMA Price	$136.22	$160.11
DMA Trend	down	down
Distance from DMA	8.2%	-7.9%
	3M	1YR
Volatility	22.6%	31.7%
Downside Capture	32.03	78.97
Upside Capture	57.30	23.24
Correlation (SPY)	19.4%	29.6%

STZ Betas & Captures as of 11/30/2025

	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

1Y 5Y 10Y

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	-38.1%	-1.5%	13.8%	61.2%	3.6%	-3.9%	-7.4%
Annualized Volatility	31.5%	14.0%	19.7%	19.4%	15.9%	17.7%	35.6%
Sharpe Ratio	-1.49	-0.34	0.54	2.34	0.04	-0.38	-0.05
Correlation With Other Assets		49.5%	29.8%	1.3%	-3.3%	45.6%	6.0%

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	-5.6%	5.9%	14.5%	18.1%	11.5%	4.4%	36.1%
Annualized Volatility	23.4%	13.0%	17.1%	15.5%	18.9%	18.9%	48.9%
Sharpe Ratio	-0.27	0.25	0.69	0.94	0.50	0.15	0.63
Correlation With Other Assets		53.4%	40.6%	9.9%	9.4%	44.6%	11.6%

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	1.7%	7.4%	14.4%	14.3%	5.8%	5.3%	73.6%
Annualized Volatility	26.5%	14.7%	18.0%	14.7%	17.7%	20.8%	55.9%
Sharpe Ratio	0.10	0.38	0.69	0.80	0.26	0.22	0.93
Correlation With Other Assets		53.4%	49.6%	4.6%	16.1%	50.2%	10.4%

Short Interest

Short Interest: As Of Date	11282025
Short Interest: Shares Quantity	10,511,595
Short Interest: % Change Since 11152025	5.7%
Average Daily Volume	2,158,261
Days-to-Cover Short Interest	4.87
Basic Shares Quantity	175,821,000
Short % of Basic Shares	6.0%

Returns Analyses

	Title
0	Would You Still Hold Constellation Brands Stock If It Fell 30%?
1	Constellation Brands Stock Return Comparison
2	[10/2/2021] Constellation Brands (STZ) Stock Price Forecast: AI Forecasts STZ Stock Price To Be Around $217 In A Month (Up 1.7%)

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
8312025	10072025	10-Q 8/31/2025
5312025	7022025	10-Q 5/31/2025
2282025	4232025	10-K 2/28/2025
11302024	1102025	10-Q 11/30/2024
8312024	10032024	10-Q 8/31/2024
5312024	7032024	10-Q 5/31/2024
2292024	4232024	10-K 2/29/2024
11302023	1052024	10-Q 11/30/2023
8312023	10052023	10-Q 8/31/2023
5312023	6302023	10-Q 5/31/2023
2282023	4202023	10-K 2/28/2023
11302022	1052023	10-Q 11/30/2022
8312022	10062022	10-Q 8/31/2022
5312022	6302022	10-Q 5/31/2022
2282022	4212022	10-K 2/28/2022
11302021	1062022	10-Q 11/30/2021

External Quote Links

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Constellation Brands (STZ)

Market Price (12/15/2025): $147.82 | Market Cap: $26.0 BilSector: Consumer Staples | Industry: Distillers & Vintners

Constellation Brands (STZ)

Market Price (12/15/2025): $147.82Market Cap: $26.0 BilSector: Consumer StaplesIndustry: Distillers & Vintners

Valuation, Metrics & Events

STZ Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About Constellation Brands (STZ)

U.S. Beer Market

U.S. Wine Market

U.S. Spirits Market

Global Premium and Luxury Alcoholic Beverage Markets

Interactive Breakdown

Better Bets than Constellation Brands (STZ)

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Based On 1-Year Data

Based On 5-Year Data

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Short Interest

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Earnings Returns History

SEC Filings

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Market Price (12/15/2025): $147.82 | Market Cap: $26.0 Bil
Sector: Consumer Staples | Industry: Distillers & Vintners

Market Price (12/15/2025): $147.82
Market Cap: $26.0 Bil
Sector: Consumer Staples
Industry: Distillers & Vintners