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Constellation Brands (STZ)

Market Price (4/11/2026): $165.96 | Market Cap: $29.0 Bil
Sector: Consumer Staples | Industry: Distillers & Vintners

Constellation Brands (STZ)

Market Price (4/11/2026): $165.96
Market Cap: $29.0 Bil
Sector: Consumer Staples
Industry: Distillers & Vintners

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.1%, FCF Yield is 6.1%

Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 31%

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 2.7 Bil

Stock buyback support
Stock Buyback 3Y Total is 2.5 Bil

Low stock price volatility
Vol 12M is 30%

Megatrend and thematic drivers
Megatrends include Experience Economy & Premiumization, E-commerce & Digital Retail, and Health & Wellness Trends. Themes include Luxury Consumer Goods, Show more.

Weak multi-year price returns
2Y Excs Rtn is -66%, 3Y Excs Rtn is -86%

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -7.9%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.5%, Rev Chg QQuarterly Revenue Change % is -9.8%

Key risks
STZ key risks include [1] uncertain demand recovery from its core Hispanic consumer base, 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 5.1%, FCF Yield is 6.1%
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 31%
2 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 2.7 Bil
3 Stock buyback support
Stock Buyback 3Y Total is 2.5 Bil
4 Low stock price volatility
Vol 12M is 30%
5 Megatrend and thematic drivers
Megatrends include Experience Economy & Premiumization, E-commerce & Digital Retail, and Health & Wellness Trends. Themes include Luxury Consumer Goods, Show more.
6 Weak multi-year price returns
2Y Excs Rtn is -66%, 3Y Excs Rtn is -86%
7 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -7.9%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.5%, Rev Chg QQuarterly Revenue Change % is -9.8%
8 Key risks
STZ key risks include [1] uncertain demand recovery from its core Hispanic consumer base, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Constellation Brands (STZ) stock has gained about 20% since 12/31/2025 because of the following key factors:

1. Strong Earnings Performance Exceeding Analyst Expectations. Constellation Brands reported robust financial results, particularly for its third quarter of fiscal 2026 (announced on January 7, 2026), where adjusted earnings per share (EPS) of $3.06 significantly surpassed analyst estimates of $2.63. This strong beat contributed to a notable 5.3% increase in the stock price the day following the announcement.

2. Upgraded Analyst Ratings and Raised Price Targets. Throughout the period, several prominent equity research firms demonstrated increased confidence in Constellation Brands by reiterating "Buy" or "Outperform" ratings and increasing their price targets. For example, UBS raised its target price from $168.00 to $176.00 in April 2026, and Wells Fargo & Company increased its price objective from $165.00 to $180.00, maintaining an "overweight" rating. This positive analyst sentiment, with a consensus average price target around $177.91-$179.18, indicated strong upside potential for the stock.

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Stock Movement Drivers

Fundamental Drivers

The 21.2% change in STZ stock from 12/31/2025 to 4/10/2026 was primarily driven by a 32.6% change in the company's P/E Multiple.
(LTM values as of)123120254102026Change
Stock Price ($)137.07166.1521.2%
Change Contribution By: 
Total Revenues ($ Mil)9,6249,383-2.5%
Net Income Margin (%)12.7%11.8%-6.9%
P/E Multiple19.726.132.6%
Shares Outstanding (Mil)1761750.7%
Cumulative Contribution21.2%

LTM = Last Twelve Months as of date shown

Market Drivers

12/31/2025 to 4/10/2026
ReturnCorrelation
STZ21.2% 
Market (SPY)-5.4%-6.9%
Sector (XLP)6.0%32.2%

Fundamental Drivers

The 25.2% change in STZ stock from 9/30/2025 to 4/10/2026 was primarily driven by a 31.7% change in the company's P/S Multiple.
(LTM values as of)93020254102026Change
Stock Price ($)132.76166.1525.2%
Change Contribution By: 
Total Revenues ($ Mil)10,0629,383-6.7%
P/S Multiple2.33.131.7%
Shares Outstanding (Mil)1781751.9%
Cumulative Contribution25.2%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 4/10/2026
ReturnCorrelation
STZ25.2% 
Market (SPY)-2.9%6.2%
Sector (XLP)5.9%31.5%

Fundamental Drivers

The -7.1% change in STZ stock from 3/31/2025 to 4/10/2026 was primarily driven by a -44.7% change in the company's P/E Multiple.
(LTM values as of)33120254102026Change
Stock Price ($)178.88166.15-7.1%
Change Contribution By: 
Total Revenues ($ Mil)10,1849,383-7.9%
Net Income Margin (%)6.7%11.8%75.5%
P/E Multiple47.226.1-44.7%
Shares Outstanding (Mil)1811753.9%
Cumulative Contribution-7.1%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2025 to 4/10/2026
ReturnCorrelation
STZ-7.1% 
Market (SPY)16.3%27.0%
Sector (XLP)3.1%45.1%

Fundamental Drivers

The -22.0% change in STZ stock from 3/31/2023 to 4/10/2026 was primarily driven by a -93.4% change in the company's P/E Multiple.
(LTM values as of)33120234102026Change
Stock Price ($)213.04166.15-22.0%
Change Contribution By: 
Total Revenues ($ Mil)9,5579,383-1.8%
Net Income Margin (%)1.1%11.8%1014.6%
P/E Multiple398.926.1-93.4%
Shares Outstanding (Mil)1901758.8%
Cumulative Contribution-22.0%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2023 to 4/10/2026
ReturnCorrelation
STZ-22.0% 
Market (SPY)63.3%25.7%
Sector (XLP)19.0%48.2%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
STZ Return16%-6%6%-7%-36%19%-19%
Peers Return18%-6%2%-28%-24%-2%-39%
S&P 500 Return27%-19%24%23%16%-0%82%

Monthly Win Rates [3]
STZ Win Rate58%58%58%50%42%75% 
Peers Win Rate50%56%52%35%40%62% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
STZ Max Drawdown-4%-15%-10%-8%-41%0% 
Peers Max Drawdown-15%-21%-13%-36%-32%-15% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-7% 

[1] Cumulative total returns since the beginning of 2021
[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] 2026 data is for the year up to 4/10/2026 (YTD)

How Low Can It Go

Unique KeyEventSTZS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-20.1%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven25.1%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven195 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-49.3%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven97.2%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven255 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-35.6%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven55.2%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven763 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-62.8%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven168.7%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven1,339 days1,480 days

Compare to TAP, SAM, MGPI, WVVI

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 Analysis | Feedback

Constellation Brands is like Procter & Gamble for alcoholic beverages.

Think of it as the Coca-Cola of alcohol.

AI Analysis | Feedback

  • Beer: Constellation Brands produces and imports a wide range of beer brands, including popular choices like Corona and Modelo, encompassing various styles and hard seltzers.
  • Wine: The company offers a diverse portfolio of wine brands, from everyday selections to premium labels such as Kim Crawford, Meiomi, and Robert Mondavi.
  • Spirits: Constellation Brands markets several spirits brands, including tequila (Casa Noble, Mi CAMPO), whiskey (High West), and vodka (SVEDKA).

AI Analysis | Feedback

Constellation Brands (STZ) sells its products primarily to other companies and agencies, operating on a business-to-business (B2B) model. Its major customers fall into the following categories:

  • Wholesale Distributors: These companies purchase products directly from Constellation Brands and then distribute them to retailers and on-premise locations. Many large alcohol wholesale distributors are privately held.
  • Retailers: These include grocery stores, mass merchandisers, and dedicated liquor stores that sell Constellation Brands' products directly to consumers. Major public retail companies that would be considered significant customers due to their scale and broad distribution of alcoholic beverages include:
    • Walmart Inc. (WMT)
    • The Kroger Co. (KR)
    • Target Corporation (TGT)
    • Costco Wholesale Corporation (COST)
    • Albertsons Companies, Inc. (ACI)
  • On-Premise Locations: This category includes bars, restaurants, hotels, and other venues where alcohol is consumed on-site.
  • State Alcohol Beverage Control Agencies: In some states, these government agencies act as the sole wholesale distributor or control retail sales of alcoholic beverages.

AI Analysis | Feedback

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Bill Newlands, President and Chief Executive Officer

Bill Newlands is Constellation's President and Chief Executive Officer, a role he assumed in March 2019. He joined the company in 2015 as Executive Vice President, Chief Growth Officer, and subsequently led the Wine & Spirits Division, served as Chief Operating Officer, and then as President. Prior to joining Constellation Brands, Mr. Newlands held several senior leadership roles in the beverage alcohol industry for over 30 years. This includes serving as President, North America at Beam, Inc., where under his leadership, Beam became one of the fastest-growing companies in its category. He also previously served as President and CEO of Allied Domecq Wines USA (2002-2005), CEO and board director of wine.com (1999-2001), and Managing Director, U.S. and Global Marketing Officer at LVMH Chandon Estates (1996-1999). Mr. Newlands has also served as a director of Hormel Foods Corporation since November 2018 and as its Lead Director since January 2023.

Garth Hankinson, Executive Vice President and Chief Financial Officer

Garth Hankinson is Constellation's Executive Vice President and Chief Financial Officer, a position he was promoted to, effective January 13, 2020. Mr. Hankinson joined Constellation Brands in 2001 and has held various senior leadership roles within the company, including Manager, Director, and Vice President of Corporate Development. He also served as Vice President, Business Development for Vincor Canada, an operating company previously owned by Constellation Brands. Before his appointment as CFO, he was Senior Vice President, Corporate Development and Financial Planning and Analysis, overseeing the company's inorganic growth initiatives, including identifying potential targets for mergers, acquisitions, joint ventures, strategic partnerships, or divestitures, and managing the company's venture investment fund. Prior to joining Constellation, Mr. Hankinson worked in sales operations and business intelligence at Xerox Corporation and as an auditor and analyst at Citicorp, Inc.

Jim Bourdeau, Executive Vice President and Strategic Advisor

Jim Bourdeau serves as Constellation's Executive Vice President and Strategic Advisor. In this role, he reports directly to the President and Chief Executive Officer. Previously, Mr. Bourdeau was Constellation's Chief Legal Officer, where he was responsible for corporate governance, government affairs, and all company-wide legal functions.

Sam Glaetzer, Executive Vice President and President, Wine & Spirits Division

Sam Glaetzer is Constellation's Executive Vice President and President, Wine & Spirits Division. He is responsible for all U.S. and international commercial and operations functions related to the company’s wine and spirits business. Mr. Glaetzer joined Constellation in New Zealand in 2014, bringing over 30 years of industry experience. His background includes leadership positions with Treasury Wine Estates/Foster's, where he held roles such as Environmental Engineer, Vintage Winemaker, Senior Winemaker, Group Winemaker, and General Manager for Winery Operations and Production.

Paula Erickson, Executive Vice President and Chief Human Resources Officer

Paula Erickson is Constellation's Executive Vice President and Chief Human Resources Officer, a role she assumed effective April 21, 2025. She is responsible for leading the company's human resources division. Before joining Constellation Brands, Ms. Erickson was the Senior Vice President, Chief People, Culture & Communications Officer at Beam Suntory Inc. Her career also includes 17 years with Ace Hardware Corporation, where she held various roles across human resources, corporate communications, public relations, advertising, and brand development.

AI Analysis | Feedback

Here are the key business risks for Constellation Brands (STZ):

1. Dependence on Mexican Beer Brands and Production Facilities/Supply Chain: Constellation Brands is heavily reliant on its Mexican beer brands, such as Corona and Modelo, and the production capabilities of its breweries in Mexico to meet demand. The ongoing expansion, optimization, and construction activities at these facilities are multi-billion-dollar endeavors that carry inherent risks of completion delays, cost overruns, and potential asset impairments. The company also faces operational risks due to its dependence on a limited group of suppliers for critical raw materials, like glass bottles and aluminum cans, which could lead to supply chain disruptions. Furthermore, the business is exposed to macroeconomic headwinds and regulatory changes, including potential tariffs on imports from Mexico, which could increase costs and impact profitability.

2. Declining Performance and Impairment in Wine and Spirits Segment: Constellation Brands has experienced significant challenges in its Wine and Spirits segment, including declining consumer demand and retailer destocking, which have led to a notable decrease in net sales. This segment has also seen substantial goodwill and intangible asset impairments, reflecting underlying difficulties and a need for strategic reassessment. The company has engaged in strategic divestitures within this segment to focus on premiumization and higher-margin assets, indicating ongoing efforts to address the underperformance.

3. Shifts in Consumer Preferences and Overall Decline in Alcohol Consumption: A significant long-term risk for Constellation Brands is the potential for declining consumption of its alcoholic products due to evolving consumer preferences, economic conditions, and regulatory shifts. There is an observed trend of lower alcohol consumption among younger generations, and concerns exist regarding the potential impact of new anti-obesity drugs on overall alcohol consumption. The company's key beer segment has already shown signs of softening demand, particularly among its core Hispanic consumer base, which could erode market share and affect future growth prospects.

AI Analysis | Feedback

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The increasing legalization and mainstream acceptance of cannabis products in various markets represent a clear emerging threat to Constellation Brands' core alcohol business. As cannabis becomes more accessible and socially normalized, it could act as a direct substitute for alcohol among consumers, leading to a potential shift in discretionary spending and consumption habits away from traditional beer, wine, and spirits.

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AI Analysis | Feedback

Constellation Brands operates in the beer, wine, and spirits markets. The addressable markets for their main products are substantial in both the U.S. and globally.

Beer Market

  • U.S. Market: The U.S. beer market was valued at approximately USD 130.07 billion in 2024. Another estimate placed the U.S. beer market at USD 110.9 billion in 2023, projected to reach USD 161.06 billion by 2033.
  • Global Market: The global beer market size was estimated at USD 839.31 billion in 2024 and is projected to reach USD 1,248.3 billion by 2030, growing at a compound annual growth rate of 6.8% from 2025 to 2030.

Wine Market

  • U.S. Market: The U.S. wine market size was estimated at USD 75.3 billion in 2024 and is projected to reach USD 157.3 billion by 2033.
  • Global Market: The global wine market size was valued at USD 508.14 billion in 2024 and is estimated to reach USD 793.94 billion by 2033.

Spirits Market

  • U.S. Market: The U.S. spirits market size was estimated at USD 76.16 billion in 2024 and is expected to reach USD 112.87 billion by 2033.
  • Global Market: The global spirits market size was estimated at USD 424.82 billion in 2024 and is expected to reach USD 641.84 billion by 2033. The total retail value of the global spirits market was estimated at USD 811.261 billion in 2023.

AI Analysis | Feedback

Expected Drivers of Future Revenue Growth for Constellation Brands (STZ)

  • Continued Strength and Expansion of the Core Beer Portfolio: Constellation Brands expects sustained high-single-digit net sales growth in its beer business, primarily driven by the strong performance and market share gains of iconic brands such as Modelo Especial and Pacifico. Modelo Especial has consistently been a top share gainer and the leading beer brand in the U.S. market, while Pacifico has demonstrated outstanding depletion growth.
  • Premiumization Strategy Across Beer, Wine, and Spirits: The company is focused on its premium and high-end offerings across its entire portfolio. This strategy includes leveraging higher-margin products in its wine and spirits segments, with an emphasis on growing direct-to-consumer (DTC) and international markets for its premium wine, fine wine, and craft spirits brands.
  • Strategic Pricing Actions: Constellation Brands actively implements strategic pricing initiatives, including annual price increases of approximately 1-2%, across its product portfolio. These targeted price adjustments, applied at the SKU-level and market-specific, contribute directly to revenue growth.
  • Product Innovation and Brand Extensions: The company continues to drive growth through disciplined innovation and the launch of new products and brand extensions within its key categories. Examples include the success of new offerings within the Modelo Chelada franchise and the introduction of products like Corona Sun Brew and Modelo Oro, which capitalize on existing brand equity and consumer trends.

AI Analysis | Feedback

Share Repurchases

  • Constellation Brands authorized a new $4 billion share repurchase program on April 9, 2025, which is set to expire on February 29, 2028. This authorization replaced a previous $2 billion program that had approximately $1.5 billion remaining.
  • During the first half of fiscal year 2026 (through August 2025), the company executed $604 million in share repurchases.
  • An accelerated share repurchase (ASR) agreement of $500 million was entered into on April 7, 2022.

Outbound Investments

  • Constellation Brands divested its mainstream wine brands, including Woodbridge, Meiomi, Robert Mondavi Private Selection, Cook's, SIMI, and J. Rogét sparkling wine, to The Wine Group. The agreement was announced on April 9, 2025, and the transaction closed on June 2, 2025.
  • This divestiture is part of a strategic shift to focus on higher-growth, higher-margin premium wine and spirits brands, primarily those priced at $15 and above.
  • The company also divested the SVEDKA brand.

Capital Expenditures

  • For fiscal year 2026, Constellation Brands projects capital expenditures to be approximately $1.2 billion.
  • The primary focus of these expenditures is a significant investment of about $1.0 billion in the beer business for capacity expansion, including the buildout of a third brewery in Veracruz, Mexico, and the expansion of existing breweries.
  • Historically, capital expenditures averaged $1.082 billion from fiscal years 2021 to 2025, with a peak of $1.269 billion in fiscal year 2024 and $1.214 billion in fiscal year 2025.

Better Bets vs. Constellation Brands (STZ)

Latest Trefis Analyses

TitleDate
0DASHBOARDS 
1Could Cash Machine Constellation Brands Stock Be Your Next Buy?03/07/2026
2Constellation Brands Stock Shares Sink 8.0% In A Day, Time To Buy The Stock?02/14/2026
3Constellation Brands Stock Looks Undervalued, Ready to Move Up?01/01/2026
4Constellation Brands Earnings Notes12/29/2026
5Constellation Brands Stock Plummets 9.7% With 6-Day Losing Streak12/20/2025
6With Constellation Brands Stock Sliding, Have You Assessed The Risk?10/17/2025
7Better Bet Than STZ Stock: Pay Less Than Constellation Brands To Get More From UNH, HCA 08/12/2025
8Better Bet Than STZ Stock: Pay Less Than Constellation Brands To Get More From PPC, POST 08/12/2025
9Why Constellation Brands Stock Moved: STZ Stock Has Lost 42% Since 2021 Fiscal End, Primarily Due To Unfavorable Change In Price To Sales Multiple (P/S)08/08/2025
10ARTICLES 
11S&P 500 Movers | Winners: BF-B, SNDK, STZ | Losers: TPL, AXON, NOW04/09/2026
12With Strong Cash Flow, Constellation Brands Stock Poised to Rise?02/14/2026
13Constellation Brands Stock To $127?02/14/2026
14S&P 500 Movers | Winners: COIN, AMAT, DXCM | Losers: STZ, NCLH, NVR02/14/2026
15How Will Constellation Brands Stock React To Its Upcoming Earnings?01/06/2026
Title
0DASHBOARDS
1Could Cash Machine Constellation Brands Stock Be Your Next Buy?
2Constellation Brands Stock Shares Sink 8.0% In A Day, Time To Buy The Stock?
3Constellation Brands Stock Looks Undervalued, Ready to Move Up?
4Constellation Brands Earnings Notes
5Constellation Brands Stock Plummets 9.7% With 6-Day Losing Streak
6With Constellation Brands Stock Sliding, Have You Assessed The Risk?
7Better Bet Than STZ Stock: Pay Less Than Constellation Brands To Get More From UNH, HCA 
8Better Bet Than STZ Stock: Pay Less Than Constellation Brands To Get More From PPC, POST 
9Why Constellation Brands Stock Moved: STZ Stock Has Lost 42% Since 2021 Fiscal End, Primarily Due To Unfavorable Change In Price To Sales Multiple (P/S)
10ARTICLES
11S&P 500 Movers | Winners: BF-B, SNDK, STZ | Losers: TPL, AXON, NOW
12With Strong Cash Flow, Constellation Brands Stock Poised to Rise?
13Constellation Brands Stock To $127?
14S&P 500 Movers | Winners: COIN, AMAT, DXCM | Losers: STZ, NCLH, NVR
15How Will Constellation Brands Stock React To Its Upcoming Earnings?

Trade Ideas

Select ideas related to STZ.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
MZTI_3272026_Dip_Buyer_FCFYield03272026MZTIMarzettiDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		0.9%0.9%0.0%
TAP_3272026_Dip_Buyer_FCFYield03272026TAPMolson Coors BeverageDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		-0.8%-0.8%-1.1%
KHC_3202026_Dip_Buyer_FCFYield03202026KHCKraft HeinzDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		4.3%4.3%-1.7%
KMB_3202026_Dip_Buyer_FCFYield03202026KMBKimberly-ClarkDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		-1.8%-1.8%-1.9%
MKC_3202026_Dip_Buyer_ValueBuy03202026MKCMcCormickDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		-5.2%-5.2%-5.2%
STZ_2132026_Dip_Buyer_FCFYield02132026STZConstellation BrandsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		0.5%0.5%-1.9%

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Peer Comparisons

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Financials

STZTAPSAMMGPIWVVIMedian
NameConstell.Molson C.Boston B.MGP Ingr.Willamet. 
Mkt Price166.1545.05257.2118.772.5045.05
Mkt Cap29.08.82.70.40.02.7
Rev LTM9,38311,1411,965536371,965
Op Inc LTM2,9411,63115284-1152
FCF LTM1,7621,06821676-2216
FCF 3Y Avg1,6751,23719645-5196
CFO LTM2,7011,784270122-2270
CFO 3Y Avg2,8381,925261103-2261

Growth & Margins

STZTAPSAMMGPIWVVIMedian
NameConstell.Molson C.Boston B.MGP Ingr.Willamet. 
Rev Chg LTM-7.9%-4.2%-2.4%-23.8%-6.5%-6.5%
Rev Chg 3Y Avg-0.5%1.5%-2.0%-10.9%3.5%-0.5%
Rev Chg Q-9.8%-2.7%-4.1%-23.5%-1.5%-4.1%
QoQ Delta Rev Chg LTM-2.5%-0.7%-0.8%-7.3%-0.5%-0.8%
Op Mgn LTM31.3%14.6%7.7%15.6%-3.9%14.6%
Op Mgn 3Y Avg31.8%14.6%7.1%20.0%-1.8%14.6%
QoQ Delta Op Mgn LTM-0.3%-0.2%-0.2%-3.4%-1.4%-0.3%
CFO/Rev LTM28.8%16.0%13.7%22.7%-4.8%16.0%
CFO/Rev 3Y Avg29.0%16.7%13.1%15.7%-6.0%15.7%
FCF/Rev LTM18.8%9.6%11.0%14.2%-6.2%11.0%
FCF/Rev 3Y Avg17.1%10.7%9.9%7.3%-12.2%9.9%

Valuation

STZTAPSAMMGPIWVVIMedian
NameConstell.Molson C.Boston B.MGP Ingr.Willamet. 
Mkt Cap29.08.82.70.40.02.7
P/S3.10.81.40.70.30.8
P/EBIT14.1-3.918.0-4.3-300.1-3.9
P/E26.1-4.125.2-3.7-13.6-3.7
P/CFO10.74.910.13.3-7.04.9
Total Yield5.1%-20.1%4.0%-26.2%-7.4%-7.4%
Dividend Yield1.2%4.3%0.0%0.6%0.0%0.6%
FCF Yield 3Y Avg5.0%11.0%6.7%6.5%-24.1%6.5%
D/E0.40.70.00.72.40.7
Net D/E0.40.6-0.10.62.40.6

Returns

STZTAPSAMMGPIWVVIMedian
NameConstell.Molson C.Boston B.MGP Ingr.Willamet. 
1M Rtn10.8%0.2%10.9%3.0%-7.4%3.0%
3M Rtn13.8%-5.4%23.8%-23.7%-13.2%-5.4%
6M Rtn19.3%0.0%19.3%-20.4%-33.2%0.0%
12M Rtn-7.7%-21.9%5.9%-31.7%-57.3%-21.9%
3Y Rtn-22.8%-8.1%-20.9%-80.0%-58.7%-22.8%
1M Excs Rtn10.2%-0.4%10.3%2.4%-8.0%2.4%
3M Excs Rtn14.5%-2.2%24.4%-22.1%-15.2%-2.2%
6M Excs Rtn17.1%-0.1%15.9%-22.6%-28.0%-0.1%
12M Excs Rtn-37.1%-56.7%-24.0%-64.6%-94.5%-56.7%
3Y Excs Rtn-85.5%-70.6%-86.3%-145.9%-125.5%-86.3%

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Beer8,1637,4656,7526,0755,616
Wine and Spirits1,7991,9882,0692,5402,728
Corporate Operations and Other0    
Canopy  444379290
Consolidation and Eliminations  -444-379-290
Total9,9629,4538,8218,6158,344


Operating Income by Segment
$ Mil20252024202320222021
Beer3,0942,8622,7032,4942,248
Wine and Spirits399453471622708
Comparable Adjustments-76-194-604-97-578
Corporate Operations and Other-248-278-238-229-224
Canopy  -630-1,496-686
Consolidation and Eliminations  6301,496686
Total3,1702,8432,3322,7912,154


Price Behavior

Price Behavior
Market Price$166.15 
Market Cap ($ Bil)29.0 
First Trading Date03/17/1992 
Distance from 52W High-13.3% 
   50 Days200 Days
DMA Price$154.97$149.24
DMA Trenddownup
Distance from DMA7.2%11.3%
 3M1YR
Volatility35.0%29.1%
Downside Capture-0.440.21
Upside Capture-30.3319.06
Correlation (SPY)-8.6%10.0%
STZ Betas & Captures as of 3/31/2026

 1M2M3M6M1Y3Y
Beta0.45-0.02-0.150.130.410.43
Up Beta1.841.120.200.100.570.52
Down Beta0.630.64-0.070.170.240.39
Up Capture-2%-65%-4%25%16%9%
Bmk +ve Days7162765139424
Stock +ve Days9203160115370
Down Capture46%-28%-51%-2%60%76%
Bmk -ve Days12233358110323
Stock -ve Days13223266137381

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with STZ
STZ-0.3%29.9%-0.00-
Sector ETF (XLP)10.3%13.3%0.4843.3%
Equity (SPY)31.2%17.3%1.4724.2%
Gold (GLD)60.1%27.8%1.695.6%
Commodities (DBC)29.8%16.6%1.584.0%
Real Estate (VNQ)21.3%15.2%1.0736.0%
Bitcoin (BTCUSD)-5.7%43.7%-0.014.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with STZ
STZ-4.7%24.2%-0.22-
Sector ETF (XLP)6.3%13.2%0.2651.3%
Equity (SPY)11.1%17.0%0.5036.1%
Gold (GLD)22.1%17.8%1.028.4%
Commodities (DBC)11.8%18.8%0.528.0%
Real Estate (VNQ)3.7%18.8%0.1041.6%
Bitcoin (BTCUSD)4.0%56.5%0.298.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with STZ
STZ2.4%26.8%0.12-
Sector ETF (XLP)7.2%14.7%0.3652.4%
Equity (SPY)13.8%17.9%0.6648.1%
Gold (GLD)14.2%15.9%0.745.7%
Commodities (DBC)8.6%17.6%0.4116.0%
Real Estate (VNQ)5.1%20.7%0.2248.9%
Bitcoin (BTCUSD)67.4%66.9%1.079.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date3312026
Short Interest: Shares Quantity6.8 Mil
Short Interest: % Change Since 3152026-8.8%
Average Daily Volume1.9 Mil
Days-to-Cover Short Interest3.5 days
Basic Shares Quantity174.5 Mil
Short % of Basic Shares3.9%

Returns Analyses

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
4/8/20268.5%  
1/7/20265.3%11.3%17.7%
10/6/20251.0%2.0%-6.1%
7/1/20254.5%3.4%0.4%
4/9/20250.7%-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%
...
SUMMARY STATS   
# Positive131114
# Negative121310
Median Positive2.1%3.4%3.3%
Median Negative-3.3%-2.9%-5.7%
Max Positive8.5%26.7%25.4%
Max Negative-17.1%-15.8%-24.3%

SEC Filings

Expand for More
Report DateFiling DateFiling
11/30/202501/08/202610-Q
08/31/202510/07/202510-Q
05/31/202507/02/202510-Q
02/28/202504/23/202510-K
11/30/202401/10/202510-Q
08/31/202410/03/202410-Q
05/31/202407/03/202410-Q
02/29/202404/23/202410-K
11/30/202301/05/202410-Q
08/31/202310/05/202310-Q
05/31/202306/30/202310-Q
02/28/202304/20/202310-K
11/30/202201/05/202310-Q
08/31/202210/06/202210-Q
05/31/202206/30/202210-Q
02/28/202204/21/202210-K

Recent Forward Guidance [BETA]

Latest: Q4 2026 Earnings Reported 4/8/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2027 Reported EPS11.111.411.816.0% Higher NewGuidance: 9.87 for 2026
2027 Comparable EPS11.211.611.90.9% Higher NewGuidance: 11.4 for 2026
2027 Enterprise organic net sales growth-1.0%0.0%1.0% 5.0%Higher NewGuidance: -5.0% for 2026
2027 Operating cash flow2.40 Bil2.45 Bil2.50 Bil-3.9% Lower NewGuidance: 2.55 Bil for 2026
2027 Free cash flow1.60 Bil1.65 Bil1.70 Bil22.2% Higher NewGuidance: 1.35 Bil for 2026
2027 Capital expenditures 800.00 Mil -33.3% Lower NewGuidance: 1.20 Bil for 2026

Prior: Q3 2026 Earnings Reported 1/7/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Reported EPS9.729.8710-1.4% LoweredGuidance: 10 for 2026
2026 Comparable EPS11.311.411.60 AffirmedGuidance: 11.4 for 2026
2026 Enterprise Organic Net Sales Growth-6.0%-5.0%-4.0%0 AffirmedGuidance: -5.0% for 2026
2026 Beer Net Sales Growth-4.0%-3.0%-2.0%0 AffirmedGuidance: -3.0% for 2026
2026 Wine and Spirits Organic Net Sales Growth-20.0%-18.5%-17.0%0 AffirmedGuidance: -18.5% for 2026
2026 Operating Cash Flow2.50 Bil2.55 Bil2.60 Bil0 AffirmedGuidance: 2.55 Bil for 2026
2026 Free Cash Flow1.30 Bil1.35 Bil1.40 Bil0 AffirmedGuidance: 1.35 Bil for 2026
2026 Capital Expenditures 1.20 Bil 0 AffirmedGuidance: 1.20 Bil for 2026

Insider Activity

Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Bourdeau, James OEVP & Chief Legal OfficerDirectSell7222025169.00821138,7491,595,022Form
2Baldwin, Christopher J DirectBuy7092025171.271,000171,266206,889Form
3Baldwin, Christopher J DirectBuy7092025169.621,000169,620374,521Form
4Glaetzer, Samuel JEVP & Pres. Wine and SpiritsDirectSell5142025188.543,150593,901589,376Form
5Giles, William T DirectBuy1212025186.391,000186,390272,689Form

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