# Constellation Brands, Inc. (STZ)

> Source: Nexqual · https://nexqual.com/STZ · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Constellation Brands, Inc. (STZ), nexqual.com/STZ" · informational, not investment advice.

**Price:** USD 138.98 (+5.27% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 132.02 · day 132.67–139.31 · 52w 110.6–168.6 · market cap $23.5B · NYQ

## Key facts
- Last four reported quarters (through Aug 31, 2026): revenue $9.21B, net income $1.92B (20.9% margin), free cash flow $1.84B (SEC filings).
- Valuation: P/E 12.2x, EV/EBITDA 10.5x, net debt $10.1B.
- 4 of 80 tracked superinvestors hold STZ (13F, Q2 2026 (1 investor on Q3 2026, filed early)): 0 new, 2 added, 2 reduced, 0 unchanged.
- Analysts: Buy (mean 2.46 on a 1–5 scale) (24 analysts), mean target USD 150.87 (range 99–209).
- Total return with dividends: 1Y +2.4% vs S&P 500 +14.9%; 5Y -30.5% vs S&P 500 +80.3%.
- Next earnings: 2026-10-06, EPS estimate USD 2.72, revenue estimate $2.18B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $8.82B | $9.45B | $9.96B | $10.2B | $9.14B | $9.21B |
| Gross profit | $4.71B | $4.77B | $5.02B | $5.31B | $4.71B | — |
| Operating income | $2.33B | $2.84B | $3.17B | $355M | $2.72B | $2.78B |
| Net income | -$40.4M | -$71.0M | $1.73B | -$81.4M | $1.69B | $1.92B |
| Free cash flow | $1.68B | $1.72B | $1.51B | $1.94B | $1.79B | $1.84B |
| Gross margin | 53.4% | 50.5% | 50.4% | 52.1% | 51.6% | — |
| Operating margin | 26.4% | 30.1% | 31.8% | 3.5% | 29.8% | 30.2% |
| Net margin | -0.5% | -0.8% | 17.3% | -0.8% | 18.5% | 20.9% |
| Revenue growth | +2.4% | +7.2% | +5.4% | +2.5% | -10.5% | — |
| Cash + short-term investments | $199M | $134M | $152M | $68.1M | $102M | — |
| Total debt | $10.1B | $11.3B | $11.6B | $10.7B | $10.3B | — |
Fiscal years end Feb. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Aug 31, 2026)
P/E 12.2x · P/S 2.5x · EV/EBITDA 10.5x · EV/Sales 3.6x · P/FCF 12.8x · P/B 2.7x · FCF yield 7.82% · Earnings yield 8.18% · Dividend yield (paid, TTM) 3.01% · Buyback yield (TTM) 3.29% · Net debt $10.1B · EV $33.6B

## Superinvestors (SEC 13F-HR, Q2 2026)
4 of 80 tracked investors hold STZ (1 investor on Q3 2026, filed early). Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change | Quarter |
|---|---|---|---|---|---|
| Hillman Capital | Hillman Capital Management | 1.58% | $2.2M | Reduced -16.7% | Q2 2026 |
| David Katz | Matrix Asset Advisors | 0.84% | $10.2M | Added +21.2% | Q3 2026 |
| Bill Nygren | Oakmark Funds | 0.57% | $431M | Reduced -4.2% | Q2 2026 |
| Richard Pzena | Pzena Investment Management | 0.24% | $83.4M | Added +0.6% | Q2 2026 |

## Analysts
Consensus Buy (mean 2.46 on a 1–5 scale), 24 analysts; mean target USD 150.87 (low 99, high 209).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-08 | JP Morgan | Target raised | Neutral | $133 → $136 |
| 2026-10-08 | Freedom Broker | Upgrade | Hold → Buy | $173 → $158 |
| 2026-10-08 | UBS | Target lowered | Buy | $145 → $144 |
| 2026-10-08 | Piper Sandler | Target lowered | Neutral | $161 → $125 |
| 2026-10-08 | Deutsche Bank | Target lowered | Hold | $136 → $127 |
| 2026-10-08 | RBC Capital | Target lowered | Outperform | $185 → $182 |
| 2026-10-08 | Needham | Target lowered | Buy | $185 → $150 |
| 2026-10-08 | Morgan Stanley | Target lowered | Equal-Weight | $158 → $145 |
| 2026-10-08 | HSBC | Downgrade | Buy → Hold | $192 → $135 |
| 2026-10-05 | Wells Fargo | Target lowered | Overweight | $170 → $140 |
| 2026-10-02 | RBC Capital | Reiterated | Outperform | $185 |
| 2026-09-25 | JP Morgan | Target lowered | Neutral | $165 → $133 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +2.4% | -30.5% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +2.4% | -7.0% |
| Volatility (annualized) | 31.0% | 25.9% |
| Max drawdown | -31.4% (Feb 2026→Sep 2026) | -56.0% (Mar 2024→Sep 2026) |

## Peers (Beverages - Brewers)
FMX (Fomento Economico Mexicano S.A.) USD 129.03 +0.82% · ABEV (Ambev S.A.) USD 3.33 +1.83% · TAP-A (Molson Coors Beverage Company) USD 42.54 -8.93% · BUD (Anheuser-Busch Inbev SA Sponsor) USD 85.49 +3.89% · SAM (Boston Beer Company, Inc. (The)) USD 195.72 +7.65%

## More
Full page: https://nexqual.com/STZ · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name STZ in their own reports (relationship from STZ's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| customer | IP STRATEGY HOLDINGS, INC. (IPST) | 10-K 2026-04-14 | "In the United States, spirits sales are relatively concentrated among a limited number of large suppliers, including Diageo plc (NYSE: DEO), Pernod Ricard SA, E & J Gallo Winery, Proximo Spirits, Saze…" |

## Revenue by business segment (quarter ended 2026-08-31)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Beer | $2.47B | 93.9% | +5.5% | $964.2M | 39.0% |
| Wine and Spirits | $159.4M | 6.1% | +17.2% | $6.1M | 3.8% |
| Total revenue | $2.63B | 100% | — | $805.0M | 30.6% |

## Customer concentration

Period ended 2026-02-28: 27.5%, 6.7% of revenue from unnamed direct customers (10-K, filed 2026-04-22).

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-11-30) | $2.72 | $2.85 | -4.3% | $2.18B | 19 |
| Next quarter (ends 2027-02-28) | $1.93 | $1.91 | +1.1% | $1.87B | 19 |
| Current fiscal year (ends 2027-02-28) | $11.82 | $11.79 | +0.2% | $9.12B | 24 |
| Next fiscal year (ends 2028-02-29) | $12.10 | $12.37 | -2.2% | $9.25B | 23 |