← Research LibraryThe BriefFY2026 10-K (fiscal year ended February 28, 2026) · headline figures audited against SEC data
Constellation shrank to a beer company with a small higher-end wine arm: net sales fell 10.5% to $9.14B on wine divestitures and 3.8% lower beer shipments, but net income returned to $1.69B after last year's $2.74B wine goodwill write-off
The read at a glance✓ Audited against SEC data
- Growth — Net sales down 10.5% to $9.14B; beer net sales down 3%Watch
- Profitability — Operating margin 29.78%, up 2,630 bps; gross margin down 51 bps to 51.55%Note
- Balance sheet — Debt down 8.1% to $10.57B; $1,966.6 million revolver capacityNote
- Accounting quality — Earnings quality 91.72, safe; Altman Z-score 1.60, grey zoneNote
- Capital allocation — Buybacks $924.1M, down 17.8%; dividends $715.7M; capex down 27.9%Note
- Beer demand — Beer shipments down 3.8% and depletions down 2.1%Watch
Business
Constellation Brands holds the perpetual right to brew and sell Modelo, Corona, Pacifico and Victoria in the U.S., making it the second-largest U.S. beer company and owner of the top beer brand by dollar sales, Modelo Especial. Beer, brewed at two Mexican breweries with a third under construction in Veracruz, produced $8.32B of $9.14B fiscal 2026 net sales. After selling its mainstream wine brands in June 2025 and SVEDKA in January 2025, the wine and spirits business is a $0.82B portfolio of higher-end brands such as Kim Crawford, Ruffino and Robert Mondavi Winery.
Where the revenue comes from
Fiscal 2026, as CONSTELLATION BRANDS, INC. reports it. History and quarterly detail are in the app.
- Beer$8.3B
- Wine and Spirits$823.8M
Leadership changes
From CONSTELLATION BRANDS, INC.'s own filings, the day they're filed.
- Nicholas I. Fink · President · appointmenteff. 2026-04-13
- Jeffrey H. LaBarge · President · appointmenteff. 2026-02-28
- James O. Bourdeau · Chief Legal Officer · departureeff. 2026-02-28
Latest filings
- 10-Q · Quarterly report2026-10-07
- 8-K · Company announcement2026-10-06
- 8-K · Company announcement2026-09-18
- 8-K · Company announcement2026-09-08
- 8-K · Company announcement2026-07-24
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- What changed🔒
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- Growth quality🔒
- Margins & accounting🔒
- Capital allocation🔒
- Real risks🔒
- The long arc🔒
- Company history🔒
- The filings, readable — with what changed vs the prior year highlighted🔒
- Full financial statements, industry-aware, sources cited throughout🔒
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- Ana — ask about CONSTELLATION BRANDS, INC., every answer cited to the official filings🔒
Every figure comes from the company's filings, and analysis whose figures don't match SEC data is rejected before publication.
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