Constellation Brands (STZ) financial statements
Constellation Brands reported revenue of $9.1B in fiscal 2026, up 2.5% a year over 9 years.
Net income was $1.7B and the operating margin 29.8%, against 32.6% in 2017.
Free cash flow was $1.8B, and the company returned $716M in dividends and $924M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Constellation Brands's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.3B | $7.6B | $8.1B | $8.3B | $8.6B | $8.8B | $9.5B | $10.0B | $10.2B | $9.1B |
| Cost of revenue | $3.8B | $3.8B | $4.0B | $4.2B | $4.1B | $4.1B | $4.7B | $4.9B | $4.9B | $4.4B |
| Gross profit | $3.5B | $3.8B | $4.1B | $4.2B | $4.5B | $4.7B | $4.8B | $5.0B | $5.3B | $4.7B |
| Selling, general and admin | $1.4B | $1.5B | $1.7B | $1.6B | $1.7B | $1.7B | $1.9B | $1.8B | $1.9B | $1.8B |
| Operating income | $2.4B | $2.3B | $2.4B | $2.2B | $2.8B | $2.3B | $2.8B | $3.2B | $355M | $2.7B |
| Interest expense | $335M | $334M | $379M | — | — | — | -$416M | $444M | $418M | $362M |
| Pre-tax income | $2.1B | $2.3B | $4.1B | -$945M | $2.5B | $310M | $384M | $2.2B | -$83M | $2.4B |
| Income tax | $550M | $23M | $686M | -$967M | $511M | $309M | $422M | $457M | -$52M | $621M |
| Net income | $1.5B | $2.3B | $3.4B | -$12M | $2.0B | -$40M | -$71M | $1.7B | -$81M | $1.7B |
| Gross margin | 48.1% | 50.3% | 50.3% | 49.8% | 51.8% | 53.4% | 50.5% | 50.4% | 52.1% | 51.6% |
| Operating margin | 32.6% | 30.1% | 29.7% | 25.8% | 32.4% | 26.4% | 30.1% | 31.8% | 3.5% | 29.8% |
| Net margin | 20.9% | 30.4% | 42.3% | -0.1% | 23.2% | -0.5% | -0.8% | 17.3% | -0.8% | 18.5% |
Balance sheet
Fiscal years, from Constellation Brands's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $177M | $90M | $94M | $81M | $461M | $199M | $134M | $152M | $68M | $102M |
| Receivables | $737M | $776M | $847M | $865M | $785M | $899M | $902M | $833M | $736M | $658M |
| Inventory | $2.0B | $2.1B | $2.1B | $1.4B | $1.3B | $1.6B | $1.9B | $2.1B | $1.4B | $1.4B |
| Total current assets | $3.2B | $3.5B | $3.7B | $3.5B | $3.0B | $3.3B | $3.5B | $3.7B | $3.7B | $2.9B |
| Property, plant and equipment | $3.9B | $4.8B | $5.3B | $5.3B | $5.8B | $6.1B | $6.9B | $8.1B | $7.4B | $8.5B |
| Goodwill | $7.9B | $8.1B | $8.1B | $7.8B | $7.8B | $7.9B | $7.9B | $8.0B | $5.1B | $5.2B |
| Total assets | $18.6B | $20.5B | $29.2B | $27.3B | $27.1B | $25.9B | $24.7B | $25.7B | $21.7B | $21.9B |
| Total current liabilities | $2.7B | $2.0B | $3.2B | $2.3B | $1.3B | $2.7B | $3.0B | $3.1B | $4.0B | $2.7B |
| Long-term debt | $7.7B | $9.4B | $11.8B | $11.2B | $10.4B | $9.5B | $11.3B | $10.7B | $9.3B | $9.7B |
| Total liabilities | $11.7B | $12.5B | $16.4B | $14.8B | $13.2B | $13.8B | $15.9B | $15.6B | $14.5B | $13.5B |
| Shareholders' equity | $6.9B | $8.0B | $12.6B | $12.1B | $13.6B | $11.7B | $8.4B | $9.7B | $6.9B | $8.1B |
| Net debt | $8.5B | $9.3B | $12.7B | $11.9B | $10.0B | $9.9B | $11.2B | $11.5B | $10.6B | $10.2B |
Cash flow
Fiscal years, from Constellation Brands's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.7B | $1.9B | $2.2B | $2.6B | $2.8B | $2.7B | $2.8B | $2.8B | $3.2B | $2.7B |
| Capital spending | $907M | $1.1B | $886M | $726M | $865M | $1.0B | $1.0B | $1.3B | $1.2B | $875M |
| Free cash flow | $789M | $874M | $1.4B | $1.8B | $1.9B | $1.7B | $1.7B | $1.5B | $1.9B | $1.8B |
| Stock-based compensation | $56M | $61M | $64M | $60M | $63M | $45M | $68M | $64M | $72M | $68M |
| Dividends paid | $315M | $400M | $558M | $569M | $575M | $573M | $588M | $654M | $732M | $716M |
| Share buybacks (net) | -$1.1B | -$1.0B | -$504M | -$50M | $0 | -$1.4B | -$1.7B | -$250M | -$1.1B | -$924M |
| Net borrowing | $1.2B | $942M | $3.6B | -$1.5B | -$1.8B | -$47M | $2.0B | -$589M | -$392M | -$942M |
| Free cash flow margin | 10.8% | 11.5% | 16.8% | 21.9% | 22.5% | 19.0% | 18.2% | 15.2% | 19.0% | 19.6% |
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Open STZ in InvestinglyQuestions
What was Constellation Brands's revenue in 2026?
$9.1B in fiscal 2026, from its 10-K filing.
How much free cash flow does Constellation Brands generate?
$1.8B in fiscal 2026 (operating cash flow minus capital spending).
From Constellation Brands's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.