olivLaw · US equity research
Constellation Brands, Inc. STZ
Beverages · SIC 2080 · Vertical: Beverages (SIC 2080)
Constellation Brands is an international producer and marketer of beer, wine and spirits, with its strength in high-end imported beer such as Modelo Especial and Corona Extra. The company is in a reshaping phase: wine and spirits sales fell after divestitures, while in the second quarter of fiscal 2027 beer net sales rose 5% and wine and spirits rose 17%. This matters now because management updated its reported EPS outlook for fiscal 2027 while reaffirming its comparable EPS target.
At the close of 04 Nov 2026, Constellation Brands, Inc. (STZ) stock was 145.49 USD (+5.33% on the day), with beta 0.28, 52-week range 112.77–166.68 USD. Latest reported quarter (Q2 2027): revenue of 2.6 bn USD (+6.1% YoY), net income of 565.8 m USD (+21.4% YoY).
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 70.7
- overbought (≥ 70)
- Bollinger (20, 2)
- 120.88 – 143.88
- above the upper band · %B 1.07 · band width 17.4%
- SMA 50 / 200
- 125.73 / 141.62
- mixed trend
- MACD (12, 26, 9)
- 4.41 / 3.38
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +28.4% | −1.1% | +29.5 pp | — |
| 3 months | +11.4% | −0.5% | +11.8 pp | — |
| 6 months | −4.5% | +4.4% | −8.9 pp | — |
| Year to date | +5.5% | +12.3% | −6.9 pp | — |
| 1 year | +12.6% | +13.5% | −0.9 pp | +1.2% |
| 3 years | −39.8% | +76.4% | −116.2 pp | −22.9% |
| 5 years | −34.7% | +63.7% | −98.3 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2027 · 31 Aug 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 | Q2 '27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.5 bn | 2.2 bn | 2.5 bn | 2.5 bn | 2.2 bn | 1.9 bn | 2.4 bn | 2.6 bn |
| Cost of revenue | 1.2 bn | 1.0 bn | 1.2 bn | 1.2 bn | 1.0 bn | 968.5 m | 1.1 bn | 1.2 bn |
| Gross profit | 1.3 bn | 1.1 bn | 1.3 bn | 1.3 bn | 1.2 bn | 951.7 m | 1.3 bn | 1.4 bn |
| SG&A | 491.3 m | 505.3 m | 500.7 m | 436.0 m | 491.2 m | 420.5 m | 457.0 m | 538.2 m |
| Operating income | 793.0 m | -150.3 m | 713.8 m | 874.0 m | 692.0 m | 441.6 m | 845.3 m | 805.0 m |
| Depreciation & amortisation | 119.3 m | 106.2 m | 105.5 m | 103.1 m | 99.3 m | 112.1 m | 97.9 m | 97.1 m |
| Interest expense | 107.7 m | 100.1 m | 100.6 m | 89.0 m | 86.6 m | 85.4 m | 87.7 m | 85.3 m |
| Pre-tax income | 673.6 m | -342.6 m | 611.4 m | 782.9 m | 632.3 m | 351.2 m | 760.0 m | 729.4 m |
| Income tax | 44.5 m | 28.0 m | 87.6 m | 296.8 m | 110.1 m | 126.5 m | 88.1 m | 147.1 m |
| Net income | 615.9 m | -375.3 m | 516.1 m | 466.0 m | 502.8 m | 201.8 m | 653.8 m | 565.8 m |
| Operating cash flow | 685.2 m ≈ | 594.7 m | 637.2 m | 852.1 m ≈ | 616.9 m ≈ | 562.8 m | 661.8 m | 816.8 m ≈ |
| Capex | 228.4 m ≈ | 282.6 m | 192.8 m | 217.3 m ≈ | 246.0 m ≈ | 218.9 m | 177.2 m | 176.9 m ≈ |
| Dividends paid | 182.7 m ≈ | 180.5 m | 182.2 m | 178.9 m ≈ | 177.7 m ≈ | 176.9 m | 178.7 m | 175.1 m ≈ |
| Share repurchases | 218.9 m ≈ | 455.7 m | 306.1 m | 297.9 m ≈ | 220.1 m ≈ | 100.0 m | 223.8 m | 230.9 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
EPS unavailable in the issuer's structured filings (e.g. a partnership reports per unit, not per share).
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 8.1 bn | 8.3 bn | 8.6 bn | 8.8 bn | 9.5 bn | 10.0 bn | 10.2 bn | 9.1 bn |
| Revenue YoY | +7.1% | +2.8% | +3.3% | +2.4% | +7.2% | +5.4% | +2.5% | −10.5% |
| Net income | 3.4 bn | -11.8 m | 2.0 bn | -40.4 m | -71.0 m | 1.7 bn | -81.4 m | 1.7 bn |
| Net income YoY | +49.2% | −100.3% | unavailable | −102.0% | unavailable | unavailable | −104.7% | unavailable |
| Diluted EPS | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | 42.3% | -0.1% | 23.2% | -0.5% | -0.8% | 17.3% | -0.8% | 18.5% |
| Free cash flow | 1.4 bn | 1.8 bn | 1.9 bn | 1.7 bn | 1.7 bn | 1.5 bn | 1.9 bn | 1.8 bn |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 28 Feb 2026
- Cash
- 102.4 m USD
- Financial debt
- 10.0 bn USD
- Net debt
- 9.9 bn USD
- Equity
- 8.4 bn USD
- Total assets
- 21.9 bn USD
- Debt / equity
- 1.19x
- Current ratio
- 1.08x
- ROE
- 21.7%
- ROA
- 7.7%
- FCF margin
- 19.6%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 8.6 bn | 8.8 bn | 9.5 bn | 10.0 bn | 10.2 bn | 9.1 bn | SEC (XBRL)· 22 Apr 2026verified |
| Cost of revenue | 4.1 bn | 4.1 bn | 4.7 bn | 4.9 bn | 4.9 bn | 4.4 bn | SEC (XBRL)· 22 Apr 2026verified |
| Gross profit | 4.5 bn | 4.7 bn | 4.8 bn | 5.0 bn | 5.3 bn | 4.7 bn | SEC (XBRL)· 22 Apr 2026verified |
| SG&A | 1.7 bn | 1.7 bn | 1.9 bn | 1.8 bn | 2.0 bn | 1.8 bn | SEC (XBRL)· 22 Apr 2026verified |
| Operating income | 2.8 bn | 2.3 bn | 2.8 bn | 3.2 bn | 354.9 m | 2.7 bn | SEC (XBRL)· 22 Apr 2026verified |
| Depreciation & amortisation | 299.1 m | 342.4 m | 387.0 m | 429.2 m | 447.0 m | 420.0 m | SEC (XBRL)· 22 Apr 2026verified |
| EBITDA | 3.1 bn ≈ | 2.7 bn ≈ | 3.2 bn ≈ | 3.6 bn ≈ | 801.9 m ≈ | 3.1 bn ≈ | SEC (XBRL)· 22 Apr 2026derived |
| Interest expense | — | — | -415.9 m | 443.6 m | 418.4 m | 361.6 m | SEC (XBRL)· 22 Apr 2026verified |
| Pre-tax income | 2.5 bn | 310.4 m | 383.6 m | 2.2 bn | -82.8 m | 2.4 bn | SEC (XBRL)· 22 Apr 2026verified |
| Income tax | 511.1 m | 309.4 m | 422.1 m | 456.6 m | -51.7 m | 621.0 m | SEC (XBRL)· 22 Apr 2026verified |
| Net income | 2.0 bn | -40.4 m | -71.0 m | 1.7 bn | -81.4 m | 1.7 bn | SEC (XBRL)· 22 Apr 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 460.6 m | 199.4 m | 133.5 m | 152.4 m | 68.1 m | 102.4 m | SEC (XBRL)· 22 Apr 2026verified |
| Inventories | 1.3 bn | 1.6 bn | 1.9 bn | 2.1 bn | 1.4 bn | 1.4 bn | SEC (XBRL)· 22 Apr 2026verified |
| Current assets | 3.0 bn | 3.3 bn | 3.5 bn | 3.7 bn | 3.7 bn | 2.9 bn | SEC (XBRL)· 22 Apr 2026verified |
| Property, plant & equipment, net | 5.8 bn | 6.1 bn | 6.9 bn | 8.1 bn | 7.4 bn | — | SEC (XBRL)· 02 Jul 2025verified |
| Goodwill | 7.8 bn | 7.9 bn | 7.9 bn | 8.0 bn | 5.1 bn | 5.2 bn | SEC (XBRL)· 22 Apr 2026verified |
| Intangibles (excl. goodwill) | 2.7 bn | 2.8 bn | 2.7 bn | 2.7 bn | 2.5 bn | 2.5 bn | SEC (XBRL)· 22 Apr 2026verified |
| Total assets | 27.1 bn | 25.9 bn | 24.7 bn | 25.7 bn | 21.7 bn | 21.9 bn | SEC (XBRL)· 22 Apr 2026verified |
| Accounts payable | 460.0 m | 899.2 m | 941.5 m | 1.1 bn | 939.8 m | 960.2 m | SEC (XBRL)· 22 Apr 2026verified |
| Short-term debt | 0 | 323.0 m | 1.2 bn | 241.4 m | 806.7 m | 272.0 m | SEC (XBRL)· 22 Apr 2026verified |
| Long-term debt | 10.4 bn | 9.5 bn | 11.3 bn | 10.7 bn | 9.3 bn | 9.7 bn | SEC (XBRL)· 22 Apr 2026verified |
| Current liabilities | 1.3 bn | 2.7 bn | 3.0 bn | 3.1 bn | 4.0 bn | 2.7 bn | SEC (XBRL)· 22 Apr 2026verified |
| Total liabilities | 13.2 bn | 13.8 bn | 15.9 bn | 15.6 bn | 14.5 bn | 13.5 bn | SEC (XBRL)· 22 Apr 2026verified |
| Equity | 13.9 bn | 12.0 bn | 8.7 bn | 10.1 bn | 7.1 bn | 8.4 bn | SEC (XBRL)· 22 Apr 2026verified |
Cash flow · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 2.8 bn | 2.7 bn | 2.8 bn | 2.8 bn | 3.2 bn | 2.7 bn | SEC (XBRL)· 22 Apr 2026verified |
| Capex | 864.6 m | 1.0 bn | 1.0 bn | 1.3 bn | 1.2 bn | 875.0 m | SEC (XBRL)· 22 Apr 2026verified |
| Free cash flow | 1.9 bn ≈ | 1.7 bn ≈ | 1.7 bn ≈ | 1.5 bn ≈ | 1.9 bn ≈ | 1.8 bn ≈ | SEC (XBRL)· 22 Apr 2026derived |
| Investing cash flow | -87.9 m | -1.0 bn | -999.4 m | -1.3 bn | -974.8 m | 16.5 m | SEC (XBRL)· 22 Apr 2026verified |
| Financing cash flow | -2.3 bn | -1.9 bn | -1.8 bn | -1.5 bn | -2.3 bn | -2.7 bn | SEC (XBRL)· 22 Apr 2026verified |
| Dividends paid | 575.0 m | 573.0 m | 587.7 m | 653.8 m | 731.8 m | 715.7 m | SEC (XBRL)· 22 Apr 2026verified |
| Share repurchases | 0 | 1.4 bn | 1.7 bn | 249.7 m | 1.1 bn | 924.1 m | SEC (XBRL)· 22 Apr 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 56.2% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: unavailable
Key indicators
Coverage and freshness
Score by group
56% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/Eunavailable · input data missing
- Dividend discount (DDM)unavailable · input data missing
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 56.2% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 12.6% | 62 (vs peers) | 19% |
| Net margin · Quality | 20.9% | 94 (vs peers) | 11% |
| FCF conversion · Quality | 95.6% | 94 (on a fixed band) | 11% |
| Revenue CAGR 3Y · Growth | -1.1% | 0 (on a fixed band) | 15% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | 2.9x | 43 (vs peers) | 19% |
| Interest coverage · Balance sheet | 8.1x | 100 (on a fixed band) | 11% |
| Current ratio · Balance sheet | 1.0x | 17 (on a fixed band) | 7% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | 38.5% | 100 (on a fixed band) | 7% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet55/100 · 3/3 factors with a value
- Growth· partial0/100 · 1/2 factors with a value
- Quality79/100 · 3/3 factors with a value
- Returns· partial100/100 · 1/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
CONSTELLATION BRANDS, INC. (STZ). Latest full fiscal year: 2026; data up to 2026-08-31.
Figures computed from the financial statements: revenue 9.1 bn USD in 2026; YoY growth -10.5%; net margin 20.9%; ROE 23.9%; net debt/EBITDA 2.9x.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (score weight coverage: 56.2% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 20.9%
- FCF conversion: 95.6%
- Interest coverage: 8.1x
- Payout ratio (FCF): 38.5%
What contradicts it
- Revenue CAGR 3Y: -1.1%
- Current ratio: 1.0x
Not assessed (insufficient data or a ratio without meaning): EPS CAGR 3Y, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions).
Versus the vertical median
Beverages (SIC 2080) · same industry (4-digit SIC) · compared with 17 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| KOCoca Cola Co | 412.1 bn | 28.2 | 42.6% | 28.7% | +1.9% | +31% / +64% |
| DEODIAGEO plc | 237.6 bn | 92.4 | 24.0% | 9.1% | +0.3% | +7% / −30% |
| PEPPepsico Inc | 194.1 bn | 18.7 | 50.1% | 10.8% | +2.3% | −4% / −15% |
| KDPKeurig Dr Pepper Inc. | 50.1 bn | 37.2 | 5.7% | 7.1% | +8.2% | +32% / +17% |
| BF-ABrown Forman Corp | 14.9 bn | 20.3 | 18.1% | 18.4% | −1.2% | +10% / −48% |
| PRMBPrimo Brands Corp | 7.6 bn | 79.4 | 3.2% | 1.5% | +29.3% | +34% / +46% |
| COCOThe Vita Coco Company, Inc. | 3.7 bn | 32.9 | 32.0% | 15.7% | +18.2% | +23% / +133% |
| WESTWestrock Coffee Company | 1.0 bn | — | — | -4.9% | +39.8% | +138% / +13% |
| BUDABuda Juice, Inc. | 83.2 m | 34.5 | 19.3% | 17.1% | +11.8% | unavailable / unavailable |
| SRXHSRX Global Inc. | 18.0 m | — | -70.8% | -254.8% | −81.3% | −96% / −100% |
| WVVIWillamette Valley Vineyards, Inc. | 8.3 m | — | -3.3% | -5.9% | −6.5% | −37% / −68% |
| YHCLQR House Inc. | 2.9 m | 0.2 | -88.2% | -1,589.2% | −37.4% | −98% / −100% |
| IPSTIp Strategy Holdings, Inc. | 2.3 m | — | -2,713.2% | -2,064.0% | +20.4% | −98% / unavailable |
| EDVAEndovia Health Sciences, Inc. | 1.2 m | — | — | -53,856.5% | −90.9% | −96% / −100% |
| BRCCBRC Inc. | 903.4 k | — | -14.2% | -1.5% | +1.7% | −23% / −77% |
| IBGInnovation Beverage Group Limited | 593.4 k | — | — | -223.4% | −5.1% | −94% / unavailable |
| ABEVAmbev S.A. | — | — | 16.6% | 17.6% | −1.4% | +9% / +1% |
| STZConstellation Brands, Inc. | — | — | 23.9% | 20.9% | −10.5% | +13% / −40% |
1- and 3-year price returns: for STZ from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Constellation Brands is an international producer and marketer of beer, wine and spirits, with its strength in high-end imported beer such as Modelo Especial and Corona Extra. The company is in a reshaping phase: wine and spirits sales fell after divestitures, while in the second quarter of fiscal 2027 beer net sales rose 5% and wine and spirits rose 17% 3. This matters now because management updated its reported EPS outlook for fiscal 2027 while reaffirming its comparable EPS target.
SWOT
Strengths
- Leadership in imported beer and strong high-end brands give the company a market advantage, backed by exclusive import rights in all U.S. states 1.
- The company has a solid financial base, with strong operating cash flow and a commitment to returning capital to shareholders 3.
- The premium wine portfolio showed signs of recovery in the second quarter of fiscal 2027, with sales growth and share gains 3.
Weaknesses
- Dependence on U.S. beer sales, which make up the vast majority of the business, leaves the company exposed to changes in consumption 1.
- The wine and spirits segment recorded a significant goodwill impairment in fiscal 2025 and a low operating margin 13.
- The company changed its chief executive in April 2026, and the transition could cause operational disruption 1.
Opportunities
- Growing brands such as Pacifico and Victoria, and expansion into new categories such as ready-to-drink, could open growth avenues 23.
- Investment in capacity at Veracruz could support future growth of high-end brands if demand materializes 12.
- Developing direct-to-consumer channels and international markets could widen the reach of premium wines 1.
Risks
- Dependence on U.S. beerhigh
Sales of U.S. beer make up the vast majority of the business, so any shift in preferences could affect results 1.
- Tariffs and trade policyhigh
Tariffs imposed by the U.S. and other countries could raise costs and disrupt supply chains 1.
- Asset impairmentsmedium
Divested businesses and portfolio investments have produced significant impairments, and others could follow 1.
- Leadership transitionmedium
The change in chief executive could disrupt strategy and operations if not managed well 1.
- Reputation and regulationlow
Public perception, social media campaigns and alcohol regulation could affect brand image 1.
Investment thesis
What would need to be true (bull case)
- If the leader in imported beer keeps its share gains, the company could sustain sales growth and margins over the long term 23.
- If the premium wine portfolio continues its recovery, the segment could reduce pressure on overall results 3.
- The efficiency programme and lower costs could help improve profitability in coming periods 1.
What would break the thesis
- If U.S. beer consumption keeps declining, results could be significantly affected given the company's dependence on this segment 1.
- If tariffs and trade uncertainty persist, costs could rise faster than selling prices 1.
- If the wine segment does not recover its sales, further impairments could arise 1.
What to watch
- The reported EPS outlook for fiscal 2027 and the trend in marketing spendingQ3 2027
- Depletion trends for Modelo Especial and Corona ExtraQ3 2027
- Whether the wine and spirits operating margin reaches the 5-6% range management estimatesfiscal 2027
- Timing of the Veracruz brewery start-up and its effect on capacityfiscal 2028
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
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, headquartered in Rochester, New York 1. It conducts business through wholly owned entities and joint ventures. Its mission is to build brands people love, and its strategy pursues organic growth supplemented by targeted investments and acquisitions 1.
The company reports three segments: Beer, Wine and Spirits, and Corporate Operations and Other 1. The Beer segment, which accounts for the vast majority of the business, holds exclusive rights to import, market and sell its brands such as Modelo Especial, Corona Extra, Pacifico and Victoria in all 50 U.S. states 1. The Wine and Spirits segment was refocused on exclusively higher-end brands after the June 2025 divestitures 1.
The company operates two breweries in Nava and Obregón, and a third in Veracruz is under construction, with commercial production now expected at the beginning of fiscal 2028 12. Glass bottles are the largest packaging cost, and a joint venture with Owens-Illinois supplies a major share of the bottle requirement 1.
Segments
Market context
The company operates mainly in the U.S., where imported beer is its most important category and competition in beverage alcohol is intense 1. It ranks as the #1 importer of beer in the U.S., and its brands led dollar share gains in the beer category 13. Sales depend on separate wholesale distribution networks for beer and for wine and spirits 1.
The wine category experienced deceleration in fiscal 2026, and the company responded by repositioning its portfolio and improving efficiency 1. In the second quarter of fiscal 2027 its wine portfolio was the #3 dollar share gainer in the total wine category, according to Circana U.S. tracked channels 3.
Trends
- Premiumizationtailwind
The company is orienting its portfolio toward premium and imported brands, which it views as better positioned for long-term growth in line with consumer trading up 1. If this trend holds, it could support margins in the beer segment.
- Declining alcohol consumptionheadwind
The sources cite several factors that could reduce alcohol consumption: lower discretionary income, health warnings, advertising restrictions and substitutes such as cannabis or GLP-1 drugs 1. If these trends intensify, volumes, especially U.S. beer, could be affected.
- Trade tariffsmixed
U.S. trade policy and tariffs negatively affected fiscal 2026 results, and in April 2026 beer made from malt was removed from the Section 232 aluminum tariffs 1. Uncertainty remains high, and tariff developments could influence costs.
- Cost savings and restructuringtailwind
The 2025 Restructuring Initiative aims for over 200 million USD in net annualized cost savings by fiscal 2028, with most of the work executed in fiscal 2026 1. These savings could offset margin pressure if they materialize.
Competitive position
The beverage alcohol industry is highly competitive, and the company competes on quality, price, brand recognition and distribution strength 1. Its competitors include multinational producers and distributors, some with greater resources than the company, across beer, wine and spirits 1.
In beer, competition comes from large groups and from craft and imported brands, while in wine and spirits it comes from companies with broad portfolios 1. Shelf space, restaurant presence and wholesaler attention are decisive, and the company treats them as important as the brand itself 1.
- Anheuser-Busch InBev
Principal beer competitor named in the company's filing; not confirmed as a U.S.-listed ticker in the sources.
- The Boston Beer CompanySAM
Competitor in the U.S. beer segment named in the company's filing.
- Molson CoorsTAP
Beer competitor named among the principal competitors.
- Brown-FormanBF.B
Spirits competitor named among the principal competitors in the sources.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- Hanwha Systems wins SAR microsatellite constellation projectKorea Times — Business · 30 Oct 2026 · EN
- Hanwha Systems wins SAR microsatellite constellation projectYonhap News (KR, EN) · 30 Oct 2026 · EN
- Rassvet satellite constellation to comprise hundreds of spacecraft — Bureau 1440TASS (RU, EN) · 23 Oct 2026 · EN
- Chinese Satellite Constellation Extends Coverage to ArcticSixth Tone · 21 Oct 2026 · EN
- Korean microsatellite constellation captures first images within a day of launchKorea Times — Business · 15 Oct 2026 · EN
- S. Korean microsatellite constellation captures first images within a day of launchYonhap News (KR, EN) · 15 Oct 2026 · EN
- Google Secures 890 MW Of Nuclear Power from Constellation EnergyOil Price · 07 Oct 2026 · EN
- Modelo owner Constellation is getting creative to bring back beer drinkers as overall demand weakensCNBC — Top News · 07 Oct 2026 · EN
- Constellation Brands Down on Earnings; Intel Up on Terafab | Stock MoversBloomberg Markets · 07 Oct 2026 · EN
- Stocks making the biggest moves premarket: Constellation Brands, Flutter Entertainment, Neogen & moreCNBC — Top News · 07 Oct 2026 · EN
- (7th LD) Nuri rocket deploys 5 satellites for S. Korea's first microsatellite constellationYonhap News (KR, EN) · 07 Oct 2026 · EN
- (6th LD) Nuri rocket deploys 5 satellites for S. Korea's first microsatellite constellationYonhap News (KR, EN) · 07 Oct 2026 · EN
- Constellation Energy Surges 12% on Google Nuclear Power Deal | Closing BellBloomberg Markets · 06 Oct 2026 · EN
- Stocks making the biggest moves midday: Marvell, Moderna, Lamb Weston, Constellation Energy & moreCNBC — Top News · 06 Oct 2026 · EN
- Amazon Secures 20 Years of Nuclear Power From ConstellationOil Price · 01 Oct 2026 · EN
- Constellation, Amazon sign 20-year power deal to support Maryland nuclear plantCNA (Channel NewsAsia) · 30 Sept 2026 · EN
- Constellation (STZ) Brands Hit a 52-Week Low. Is the Corona-and-Modelo Machine Broken, or On Sale?Yahoo Finance — News · 22 Sept 2026 · EN
- Boeing (BA) Completes 13-Satellite O3b mPOWER Constellation — Here’s What It Means for Defense GrowthYahoo Finance — News · 20 Sept 2026 · EN
- I Own Constellation for the Nuclear Fleet, Not the AI Headlines. Here's Why That Matters Now.Yahoo Finance — News · 20 Sept 2026 · EN
- Constellation Energy Is Down 29% From Its Peak. Is the Nuclear Bull Case Still Intact?Yahoo Finance — News · 17 Sept 2026 · EN
SEC filings
- Quarterly report07 Oct 2026
- Current report06 Oct 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report18 Sept 2026Material agreement · Creation of a direct financial obligation · Financial statements and exhibits
- Current report08 Sept 2026Regulation FD disclosure · Financial statements and exhibits
- Current report24 Jul 2026Departure or appointment of officers · Shareholder vote · Financial statements and exhibits
- Quarterly report01 Jul 2026
- Current report30 Jun 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Proxy statement08 Jun 2026
- Current report21 May 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Current report06 May 2026Regulation FD disclosure · Other events · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2026-02-28 · SEC / Constellation Brands, Inc. · 22 Apr 2026
- [2] Form 10-Q, quarter ended 2026-08-31 · SEC / Constellation Brands, Inc. · 07 Oct 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Constellation Brands, Inc. · 06 Oct 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.