CONSTELLATION BRANDS, INC.
STZ · Beverages · EDGAR filings ↗
Net buyback after stock comp: $186M (gross $250M, SBC $64M)
Reference price $143.24 — last insider sale, 2026-05-12 (estimated from the dated SEC Form 4 price — not a live quote)
Grade
B77Premier US beer franchise with leading margins and cash generation, but offset by a real revenue stall, wine impairments and elevated leverage.
Strengths
- Best-in-class profitability: OCF margin 29.2% (100th pct), operating margin 29.8% (95th pct), net margin 18.5% (85th pct), FCF $1.79B (93rd pct)
- #1 US imported-beer position (Modelo, Corona) with durable pricing power and an exclusive perpetual license
Risks
- Revenue down 10.5% (27th pct) and a massive net-income drop (8th pct) driven by multi-billion wine goodwill/trademark impairments
- High leverage (debt/equity 1.2, 85th pct), beer-category softness/GLP-1 risk and a new-CEO transition
Notable findings
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
51.6%
Operating margin
29.8%
Net margin
18.5%
Return on equity
20.9%
Return on assets
7.7%
ROIC
12.1%
Revenue growth (QoQ)
-13.6%
Debt / equity
1.2×
Net debt / EBITDA
3.0×
Current ratio
1.1×
Free cash flow
$1.8B
EBITDA
$3.1B
Tangible book value
$316M
Cash & investments
$172M
Stock comp / revenue
0.7%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-12 | Bourdeau James O. | Sell | 4.4K | $143.24 |
| 2026-05-01 | LaBarge Jeffrey H. | Option exercise | 1.4K | — |
| 2026-05-01 | LaBarge Jeffrey H. | Tax withheld | 507 | $152.82 |
| 2026-05-01 | Erickson Paula Kristine | Option exercise | 1.8K | — |
| 2026-05-01 | Erickson Paula Kristine | Tax withheld | 506 | $152.82 |
| 2026-05-01 | Glaetzer Samuel J | Option exercise | 192 | — |
| 2026-05-01 | Glaetzer Samuel J | Option exercise | 2.6K | — |
| 2026-05-01 | Glaetzer Samuel J | Tax withheld | 921 | $152.82 |
| 2026-05-01 | McGrew Michael | Option exercise | 757 | — |
| 2026-05-01 | McGrew Michael | Option exercise | 1.4K | — |
| 2026-05-01 | McGrew Michael | Tax withheld | 527 | $152.82 |
| 2026-05-01 | Hankinson Garth | Option exercise | 2.3K | — |
| 2026-05-01 | Hankinson Garth | Option exercise | 5.2K | — |
| 2026-05-01 | Hankinson Garth | Tax withheld | 3.0K | $152.82 |
| 2026-05-01 | Monteiro Mallika | Option exercise | 990 | — |
| 2026-05-01 | Monteiro Mallika | Option exercise | 1.9K | — |
| 2026-05-01 | Monteiro Mallika | Tax withheld | 730 | $152.82 |
| 2026-05-01 | Sabia James A. Jr. | Option exercise | 1.4K | — |
| 2026-05-01 | Sabia James A. Jr. | Option exercise | 4.1K | — |
| 2026-05-01 | Sabia James A. Jr. | Tax withheld | 1.5K | $152.82 |
| 2026-05-01 | Bourdeau James O. | Option exercise | 1.9K | — |
| 2026-05-01 | Bourdeau James O. | Option exercise | 4.1K | — |
| 2026-05-01 | Bourdeau James O. | Tax withheld | 2.1K | $152.82 |
| 2026-05-01 | LaBarge Jeffrey H. | Option exercise | 127 | — |
| 2026-04-27 | Hernandez Ernesto M | Sell | 2.0K | $153.91 |
| 2026-02-17 | Glaetzer Samuel J | Sell | 555 | $153.78 |
| 2025-07-21 | Bourdeau James O. | Sell | 821 | $169.00 |
| 2025-07-10 | Daniels Jennifer | Option exercise | 503 | — |
| 2025-07-10 | SANDS ROBERT | Option exercise | 503 | — |
| 2025-07-10 | SANDS RICHARD | Option exercise | 503 | — |
| 2025-07-10 | Hernandez Ernesto M | Option exercise | 503 | — |
| 2025-07-10 | Hernandez Ernesto M | Tax withheld | 21 | $172.12 |
| 2025-07-10 | Madero Garza Jose Manuel | Option exercise | 503 | — |
| 2025-07-10 | Madero Garza Jose Manuel | Tax withheld | 143 | $172.12 |
| 2025-07-10 | Baldwin Christopher J | Option exercise | 503 | — |
| 2025-07-10 | Zaramella Luca | Option exercise | 503 | — |
| 2025-07-10 | GILES WILLIAM T | Option exercise | 503 | — |
| 2025-07-10 | MCCARTHY DANIEL J | Option exercise | 503 | — |
| 2025-07-10 | Clark Christy | Option exercise | 503 | — |
| 2025-07-10 | Fink Nicholas I. | Option exercise | 503 | — |
| 2025-07-08 | Baldwin Christopher J | Buy | 1.0K | $169.62 |
| 2025-07-07 | Baldwin Christopher J | Buy | 1.0K | $171.27 |
| 2025-05-31 | Richard Sands Master Trust | Other | 20.4M | — |
| 2025-05-31 | Robert Sands Master Trust | Other | 20.4M | — |
| 2025-05-31 | SANDS ROBERT | Other | 20.4M | — |
| 2025-05-31 | SANDS RICHARD | Other | 20.4M | — |
| 2025-05-13 | Glaetzer Samuel J | Sell | 3.1K | $188.54 |
| 2025-05-01 | Monteiro Mallika | Tax withheld | 523 | $185.44 |
| 2025-05-01 | Newlands William A | Option exercise | 13K | — |
| 2025-05-01 | Newlands William A | Tax withheld | 5.0K | $185.44 |
| 2025-05-01 | Sabia James A. Jr. | Option exercise | 2.4K | — |
| 2025-05-01 | Sabia James A. Jr. | Tax withheld | 660 | $185.44 |
| 2025-05-01 | McGrew Michael | Option exercise | 1.0K | — |
| 2025-05-01 | McGrew Michael | Tax withheld | 282 | $185.44 |
| 2025-05-01 | Hankinson Garth | Option exercise | 3.5K | — |
| 2025-05-01 | Bourdeau James O. | Option exercise | 3.4K | — |
| 2025-05-01 | Bourdeau James O. | Tax withheld | 1.1K | $185.44 |
| 2025-05-01 | Glaetzer Samuel J | Option exercise | 1.9K | — |
| 2025-05-01 | Glaetzer Samuel J | Tax withheld | 626 | $185.44 |
| 2025-05-01 | Hankinson Garth | Tax withheld | 1.4K | $185.44 |
| 2025-05-01 | Monteiro Mallika | Option exercise | 2.0K | — |
| 2025-01-17 | GILES WILLIAM T | Buy | 1.0K | $186.39 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (1)
- Southern Glazer's Wine and Spirits
Suppliers (0)
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-21 | Exec/director changeReg FDExhibits | filing ↗ |
| 2026-05-06 | Reg FDOtherExhibits | filing ↗ |
| 2026-05-05 | OtherExhibits | filing ↗ |
| 2026-05-04 | Reg FDExhibits | filing ↗ |
| 2026-04-08 | ResultsReg FDOtherExhibits | filing ↗ |
| 2026-02-12 | Exec/director changeReg FDExhibits | filing ↗ |
| 2026-01-07 | ResultsReg FDExhibits | filing ↗ |
| 2025-11-07 | OtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-21 | 2026-05-20 | 0000016918-26-000016 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0001193125-26-209180 ↗ |
| 8-K | 2026-05-05 | 2026-05-04 | 0001193125-26-206713 ↗ |
| 8-K | 2026-05-04 | 2026-05-04 | 0000016918-26-000013 ↗ |
| 10-K | 2026-04-22 | 2026-02-28 | 0000016918-26-000011 ↗ |
| 8-K | 2026-04-08 | 2026-04-08 | 0000016918-26-000008 ↗ |
| 8-K | 2026-02-12 | 2026-02-10 | 0001193125-26-048815 ↗ |
| 10-Q | 2026-01-08 | 2025-11-30 | 0000016918-26-000005 ↗ |
| 8-K | 2026-01-07 | 2026-01-07 | 0000016918-26-000002 ↗ |
| 8-K | 2025-11-07 | 2025-11-07 | 0000016918-25-000145 ↗ |
| 8-K | 2025-10-17 | 2025-10-16 | 0001193125-25-242497 ↗ |
| 8-K | 2025-10-16 | 2025-10-15 | 0001193125-25-241532 ↗ |