Constellation Brands (STZ) FY2013 results: revenue $3.2 billion, up 6.5% on the year
Constellation Brands, Inc. (STZ) reported revenue of $3.2 billion for fiscal 2013, the year ended 28 February 2013, up 6.5% on the year before. Net income was $388 million, down 12.9%. The figures are the company's own, from the 10-K it filed with the SEC on 29 April 2013.
Revenue
$3.2 billion
+6.5% on the year
FY2009FY2013
Operating margin
16.5%
16.3% a year earlier
FY2009FY2013
Net income
$388 million
-12.9% on the year
FY2009FY2013
Diluted EPS
n/a
FY2009FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
3,171
2,979
4,097
+6.5%
Cost of revenue
1,688
1,592
2,142
+6.0%
Gross profit
1,108
1,062
1,190
+4.3%
Gross margin
34.9%
35.7%
29.1%
Selling, general and administrative
585
538
641
+8.8%
Operating income
523
486
502
+7.5%
Operating margin
16.5%
16.3%
12.3%
Interest expense
234
188
199
+24.7%
Pre-tax income
516
534
551
-3.3%
Income tax
129
89.0
-8.5
+44.5%
Effective tax rate
24.9%
16.7%
-1.5%
Net income
388
445
560
-12.9%
Net margin
12.2%
14.9%
13.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
556
784
619
-29.1%
Capital expenditure
62.1
68.4
89.1
-9.2%
Free cash flow
494
716
530
-30.9%
Free cash flow margin
15.6%
24.0%
12.9%
Cash from investing
-207
-135
188
Cash from financing
-98.7
-575
-846
Depreciation and amortisation
115
104
125
+11.2%
Share-based compensation
40.8
47.6
46.0
-14.3%
Buybacks
383
414
300
-7.4%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
2,860
2,676
2,552
+6.9%
Debt
3,305
3,130
3,236
+5.6%
Other liabilities
1,472
1,304
1,379
+12.9%
Total liabilities and equity
7,638
7,110
7,168
+7.4%
Fixed assets
1,229
1,256
1,220
-2.1%
Goodwill
2,722
2,633
2,620
+3.4%
Intangible assets
871
866
886
+0.6%
Investments
34.2
28.5
40.8
+20.0%
Cash and equivalents
332
85.8
9.2
+286.4%
Receivables
472
436
416
+8.2%
Inventory
1,481
1,374
1,369
+7.7%
Other assets
497
430
606
+15.6%
Total assets
7,638
7,110
7,168
+7.4%
10-K for the year ended 28 February 2013, filed 29 April 2013: the filing.