CONSTELLATION BRANDS, INC.

10-K & 10-Q Filings

Constellation Brands, Inc. is an international producer and marketer of beer, wine, and spirits with operations in the U.S., Mexico, New Zealand, and Italy. The company's mission is to build brands that people love and is dedicated to anticipating market trends and delivering more for consumers, shareholders, employees, and the industry. Its strategic vision includes focusing on building strong brands, being consumer-obsessed, deploying capital wisely, and delivering on impactful ESG initiatives. The company's key business segments include beer, wine and spirits, and other. Constellation Brands is headquartered in Victor, New York, and is a Delaware corporation incorporated in 1972. Its website is www.cbrands.com and its ticker symbol is STZ. The company's overall strategy is to consistently deliver industry-leading total stockholder returns through a focus on building strong brands, being consumer-obsessed, deploying capital wisely, and delivering on impactful ESG initiatives. The company has a strong focus on organic growth and supplementing it with targeted investments and acquisitions. In its beer business, Constellation Brands focuses on strengthening its leadership position in the high-end segment of the U.S. beer market and growing its brands through maintenance of leading margins, enhancements to its results of operations and operating cash flow, and exploring new avenues for growth. In its wine and spirits business, the company continues to focus on higher-end brands, improving margins, and creating operating efficiencies by refining its portfolio primarily through an enhanced focus on higher-margin, higher-growth wine and spirits brands. The company is also investing in its digital business acceleration initiative to enhance its technology capabilities in key areas and grow its business in the DTC and 3-tier eCommerce channels.

12 mos ending Feb 29, 201212 mos ending Feb 28, 201312 mos ending Feb 28, 201412 mos ending Feb 28, 201512 mos ending Feb 29, 201612 mos ending Feb 28, 201712 mos ending Feb 28, 201812 mos ending Feb 28, 201912 mos ending Feb 29, 202012 mos ending Feb 28, 202112 mos ending Feb 28, 202212 mos ending Feb 28, 202312 mos ending Feb 29, 2024CAGR %YoY %Revenue (+)
$2979.10
3171.40
5411.00
6672.10
7223.80
8061.60
8326.80
8116.00
8343.50
8614.90
8820.70
Cost of Revenue (-)
$1917.00
2063.10
3419.30
4093.50
4281.50
4532.20
4509.60
4035.70
4191.60
4148.90
4113.40
Gross Profit (+)
$1062.10
1108.30
1991.70
2578.60
2942.30
3529.40
3817.20
4080.30
4151.90
4466.00
4707.30
Selling, General & Administrative (-)
$521.50
584.70
895.10
1078.40
1177.20
1392.40
1532.70
1668.10
1621.80
1665.10
1711.40
Non-recurring Operating Expenses (-)
$54.10
0.70
449.70
24.00
665.90
Operating Expenses (-)
$575.60
585.40
-446.00
1078.40
1177.20
1130.00
1532.70
1668.10
1997.40
1674.90
2375.60
Costs & Expenses (Total) (-)
$2492.60
2648.50
2973.30
5171.90
5458.70
5662.20
6042.30
5703.80
6189.00
5823.80
6489.00
Operating Income/Loss (+)
$486.50
522.90
2437.70
1500.20
1765.10
2399.40
2284.50
2412.20
2154.50
2791.10
2331.70
Non-operating Income/Expense (+)
$228.50
233.10
87.80
21.50
50.00
289.70
390.20
2099.90
-2596.90
151.70
-1663.20
Interest Expense (-)
$181.00
227.10
323.20
337.70
313.90
333.30
332.00
367.10
428.70
385.70
356.40
Earnings before Tax (+)
$534.00
516.40
2202.30
1179.60
1501.20
2093.40
2342.70
4145.00
-945.20
2542.90
310.40
Tax Expense (-)
$89.00
128.60
259.20
343.40
440.60
554.20
11.90
685.90
-966.60
511.10
309.40
Income/Loss (Continuing Operations) (+)
$445.00
387.80
1943.10
836.20
1060.60
1539.20
2330.80
3459.10
21.40
2031.80
1.00
Profit/Loss (+)
$
836.20
Net Income/Loss (NCI) (-)
$
-3.10
5.70
4.10
11.90
23.20
33.20
33.80
41.40
Net Income/Loss (+)
$445.00
387.80
1943.10
839.30
1054.90
1535.10
2318.90
3435.90
-11.80
1998.00
-40.40
Net Income/Loss (Common) (+)
$445.00
387.80
1943.10
839.30
1054.90
1535.10
2318.90
3435.90
-11.80
1998.00
-40.40
EPS (Basic)
$2.20
2.15
10.45
4.40
5.42
7.79
12.04
18.24
-0.07
10.44
-0.22
EPS (Diluted)
$2.13
2.04
9.83
4.17
5.18
7.52
11.55
17.57
-0.07
10.23
-0.22
Weighted Avg Shares (Basic)
180.72
158.66
164.69
169.32
173.38
175.93
171.46
167.25
168.33
170.24
167.43
Weighted Avg Shares (Diluted)
208.66
190.31
197.57
201.22
203.82
204.10
200.75
195.53
168.33
195.31
167.43
Cash
$85.80
331.50
63.90
110.10
83.10
177.40
90.30
93.60
81.40
460.60
199.40
133.50
152.40
4.90%14.16%Receivables
$437.60
471.90
626.20
598.90
732.50
737.00
776.20
846.90
864.80
785.30
899.00
901.60
832.80
5.51%-7.63%Inventory
$1374.50
1480.90
1743.80
1827.20
1851.60
1955.10
2084.00
2130.40
1373.60
1291.10
1573.20
1898.70
2078.30
3.51%9.46%Prepaid Expenses (Current)
$136.40
186.90
313.30
374.60
310.40
360.50
523.50
613.10
535.80
507.50
658.10
562.30
666.00
14.13%18.44%Other Assets (Current)
$
628.50
Assets (Current)
$2034.30
2471.20
2747.20
2910.80
2977.60
3230.00
3474.00
3684.00
3484.10
3044.50
3329.70
3496.10
3729.50
5.18%6.68%Securities & Long-term Investments
$
6700.30
4211.00
4606.50
2880.10
756.50
170.60
-77.45%Property, Plant & Equipment (Net)
$1255.80
1229.00
2014.30
2681.60
3333.40
3932.80
4789.70
5267.30
5333.00
5821.60
6059.60
6865.20
8055.20
16.75%17.33%Goodwill & Intangibles
$3499.30
3593.70
9377.90
9389.20
10542.40
11298.20
11387.90
11286.90
10476.00
10525.60
10617.60
10653.50
10712.00
9.77%0.55%Other Assets
$320.50
344.20
162.70
162.90
111.60
141.40
887.10
2293.00
3819.10
3106.60
2968.80
2891.00
3024.40
20.57%4.61%Assets (Non-current)
$5075.60
5166.90
11554.90
12233.70
13987.40
15372.40
17064.70
25547.50
23839.10
24060.30
22526.10
21166.20
21962.20
12.98%3.76%Assets (Total)
$7109.90
7638.10
14302.10
15144.50
16965.00
18602.40
20538.70
29231.50
27323.20
27104.80
25855.80
24662.30
25691.70
11.30%4.17%Accounts Payable
$155.30
227.90
322.90
314.50
462.90
1180.20
1175.60
1307.10
1338.00
1239.90
1770.50
1793.50
1943.50
23.44%8.36%Debt (Current)
$708.10
27.60
647.20
210.50
1265.00
1517.40
769.10
1856.70
973.80
29.20
928.30
1174.80
1198.20
4.48%1.99%Other Liabilities (Current)
$336.20
422.40
1055.60
605.70
544.40
Liabilities (Current)
$1199.60
677.90
2025.70
1130.70
2272.30
2697.60
1944.70
3163.80
2311.80
1269.10
2698.80
2968.30
3141.70
8.35%5.84%Debt (Non-current)
$2421.40
3277.80
6373.30
7137.50
6816.20
7720.70
9417.60
11759.80
11210.80
10413.10
9488.20
11286.50
10681.10
13.17%-5.36%Other Liabilities
$812.90
822.10
921.80
995.00
1184.70
1299.30
1113.70
1470.70
1326.30
1493.50
1621.00
1673.60
1804.30
6.87%7.81%Liabilities (Non-current)
$3234.30
4099.90
7295.10
8132.50
8000.90
9020.00
10531.30
13230.50
12537.10
11906.60
11109.20
12960.10
12485.40
11.91%-3.66%Liabilities (Total)
$4433.90
4777.80
9320.80
9263.20
10273.20
11717.60
12476.00
16394.30
14848.90
13175.70
13808.00
15928.40
15627.10
11.07%-1.89%Treasury Stock
$1299.00
1676.70
1662.30
1648.50
1670.30
2777.70
3807.40
2784.30
2814.00
2789.80
4171.90
5863.90
6100.30
13.76%4.03%Retained Earnings
$2107.30
2495.10
4438.20
5277.50
6090.50
7310.00
9228.20
14276.20
13695.30
15117.80
14505.40
12343.90
13417.20
16.68%8.69%AOCI
$173.70
132.10
86.00
-130.90
-452.50
-399.80
-202.90
-353.90
-266.30
-335.50
-412.70
28.50
376.80
6.67%1222.11%Shareholder's Equity
$2676.00
2860.30
4981.30
5881.30
6691.80
6884.80
8062.70
12837.20
12474.30
13929.10
12047.80
8733.90
10064.60
11.67%15.24%Liabilities & Equity
$7109.90
7638.10
14302.10
15144.50
16965.00
18602.40
20538.70
29231.50
27323.20
27104.80
25855.80
24662.30
25691.70
11.30%4.17%Net Income/Loss
$445.00
387.80
1943.10
836.20
Depreciation & Amortization
$110.30
120.20
166.90
214.20
233.00
250.20
293.80
333.10
326.50
293.80
337.30
383.80
427.90
11.96%11.49%Increase/Decrease in Working Capital
$-101.60
67.70
1.50
142.10
160.80
33.90
328.20
237.50
85.10
-148.30
185.60
274.50
287.80
4.85%Share-based Compensation
$47.60
40.80
49.90
55.00
54.00
56.10
60.90
64.10
60.40
63.00
44.90
68.50
63.60
2.44%-7.15%Adjustments to Reconcile Net Income
$339.10
168.50
-1116.90
244.80
353.10
156.80
-399.40
-1212.80
2529.70
774.70
2704.40
2795.40
1014.80
9.56%-63.70%Net Cash (Operating)
$784.10
556.30
826.20
1081.00
1413.70
1696.00
1931.40
2246.30
2551.10
2806.50
2705.40
2756.90
2780.00
11.12%0.84%Capital Expenditure
$215.80
159.30
4681.30
310.30
2207.70
1443.10
1212.70
859.60
484.70
-133.90
1071.60
969.10
1249.30
15.76%28.91%Net Cash (Investing)
$-135.10
-206.80
-4863.80
-1015.90
-2207.40
-1461.80
-1423.10
-4831.80
-531.00
-87.90
-1035.80
-999.40
-1285.90
-28.67%Increase/Decrease in Debt
$-226.10
140.20
3685.90
312.40
761.90
1190.90
941.90
3640.30
-1456.60
-1765.50
-46.70
2027.50
-589.20
-129.06%Increase/Decrease in Equity
$-409.00
-414.40
-76.40
49.90
65.90
-1077.10
-989.10
-441.10
28.20
58.90
-1212.90
-1657.80
-145.20
91.24%Interest Expenses
$173.30
197.00
313.40
325.40
310.40
300.40
322.20
324.80
448.90
418.50
368.50
386.30
418.60
7.63%8.36%Dividends Paid
$
241.60
315.10
400.10
557.70
569.20
575.00
573.00
587.70
653.80
11.25%Net Cash (Financing)
$-575.10
-98.70
3777.00
-16.40
776.00
-134.80
-601.20
2593.30
-2031.40
-2346.60
-1929.50
-1819.90
-1474.60
18.97%Cash Taxes Paid
$62.90
149.60
117.90
169.50
80.20
219.60
238.60
186.20
85.30
189.70
324.70
129.70
333.50
14.91%157.13%Effect of Exchange Rate
$2.70
-5.10
-7.00
-2.50
-9.30
-5.10
5.80
-4.50
-0.90
7.20
-1.30
-3.50
-0.60
82.86%Increase/Decrease in Cash
$76.60
245.70
-267.60
46.20
-27.00
94.30
-87.10
3.30
-12.20
379.20
-261.20
-65.90
18.90
-11.01%128.68%Cash (Beginning)
$9.20
85.80
331.50
63.90
110.10
83.10
177.40
90.30
93.60
81.40
460.60
199.40
133.50
24.97%-33.05%Cash (Ending)
$85.80
331.50
63.90
110.10
83.10
177.40
90.30
93.60
81.40
460.60
199.40
133.50
152.40
4.90%14.16%NOPAT
$429.20
371.42
2307.20
1284.63
1670.80
2147.70
2051.83
2303.84
4357.78
2582.88
-107.42
Gross Margin %
35.65%
34.95%
36.81%
38.65%
40.73%
43.78%
45.84%
50.27%
49.76%
51.84%
53.37%
Operating Margin %
16.33%
16.49%
45.05%
22.48%
24.43%
29.76%
27.44%
29.72%
25.82%
32.40%
26.43%
NOPAT Margin %
14.41%
11.71%
42.64%
19.25%
23.13%
26.64%
24.64%
28.39%
52.23%
29.98%
-1.22%
Net Margin %
14.94%
12.23%
35.91%
12.58%
14.60%
19.04%
27.85%
42.33%
-0.14%
23.19%
-0.46%
Tax Rate %
11.78%
28.97%
5.35%
14.37%
5.34%
10.49%
10.18%
4.49%
-102.26%
7.46%
104.61%
ROA
6.04%
4.86%
16.13%
8.48%
9.85%
11.55%
9.99%
7.88%
15.95%
9.53%
-0.42%
ROE
16.04%
12.99%
46.32%
21.84%
24.97%
31.19%
25.45%
17.95%
34.93%
18.54%
-0.89%
ROIC
6.64%
5.43%
17.36%
8.94%
10.37%
12.43%
11.11%
12.17%
25.15%
14.23%
-0.59%
Asset Turnover
0.42
0.42
0.38
0.44
0.43
0.43
0.41
0.28
0.31
0.32
0.34
Inventory Turnover
1.39
1.39
1.96
2.24
2.31
2.32
2.16
1.89
3.05
3.21
2.61
Equity Multiplier
2.66
2.67
2.87
2.58
2.54
2.70
2.55
2.28
2.19
1.95
2.15
2.82
2.55
Current Ratio
1.70
3.65
1.36
2.57
1.31
1.20
1.79
1.16
1.51
2.40
1.23
1.18
1.19
Quick Ratio
0.44
1.19
0.34
0.63
0.36
0.34
0.45
0.30
0.41
0.98
0.41
0.35
0.31
Debt/Equity Ratio
1.17
1.16
1.41
1.25
1.21
1.34
1.26
1.06
0.98
0.75
0.86
1.43
1.18
Interest Coverage Ratio
2.81
2.65
7.78
4.61
5.69
7.99
7.09
7.43
4.80
6.67
6.33
Working Capital/Sales
0.57
0.64
0.35
0.34
0.31
0.25
0.28
0.29
0.18
0.21
0.18
Dividend Payout Ratio %
14.46%
14.67%
19.50%
24.21%
13.06%
22.26%
533.42%
Total Payout
$808.40
471.20
-3296.10
-36.90
-275.80
501.70
769.50
-2316.70
2446.50
2700.10
2201.10
604.30
1806.80
6.93%198.99%Payout Ratio %
188.35%
126.87%
-142.86%
-2.87%
-16.51%
23.36%
37.50%
-100.56%
56.14%
104.54%
2049.05%