Constellation Brands (STZ) FY2014 results: revenue $5.4 billion, up 70.6% on the year
Constellation Brands, Inc. (STZ) reported revenue of $5.4 billion for fiscal 2014, the year ended 28 February 2014, up 70.6% on the year before. Net income was $1.9 billion, up 401.1%. The figures are the company's own, from the 10-K it filed with the SEC on 29 April 2014.
Revenue
$5.4 billion
+70.6% on the year
FY2009FY2014
Operating margin
45.1%
16.5% a year earlier
FY2009FY2014
Net income
$1.9 billion
+401.1% on the year
FY2009FY2014
Diluted EPS
n/a
FY2009FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
5,411
3,171
2,979
+70.6%
Cost of revenue
2,876
1,688
1,592
+70.4%
Gross profit
1,992
1,108
1,062
+79.7%
Gross margin
36.8%
34.9%
35.7%
Selling, general and administrative
895
585
538
+53.1%
Operating income
2,438
523
486
+366.2%
Operating margin
45.1%
16.5%
16.3%
Interest expense
331
234
188
+41.5%
Pre-tax income
2,202
516
534
+326.5%
Income tax
259
129
89.0
+101.6%
Effective tax rate
11.8%
24.9%
16.7%
Net income
1,943
388
445
+401.1%
Net margin
35.9%
12.2%
14.9%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
826
556
784
+48.5%
Capital expenditure
224
62.1
68.4
+259.9%
Free cash flow
603
494
716
+22.0%
Free cash flow margin
11.1%
15.6%
24.0%
Cash from investing
-4,864
-207
-135
Cash from financing
3,777
-98.7
-575
Depreciation and amortisation
155
115
104
+34.6%
Share-based compensation
49.9
40.8
47.6
+22.3%
Buybacks
0.0
383
414
Dividends paid
0.0
n/a
n/a
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
4,981
2,860
2,676
+74.2%
Debt
6,963
3,305
3,130
+110.7%
Other liabilities
2,358
1,472
1,304
+60.1%
Total liabilities and equity
14,302
7,638
7,110
+87.2%
Fixed assets
2,014
1,229
1,256
+63.9%
Goodwill
6,147
2,722
2,633
+125.8%
Intangible assets
3,231
871
866
+270.8%
Investments
n/a
34.2
28.5
Cash and equivalents
63.9
332
85.8
-80.7%
Receivables
626
472
436
+32.7%
Inventory
1,744
1,481
1,374
+17.8%
Other assets
476
497
430
-4.2%
Total assets
14,302
7,638
7,110
+87.2%
10-K for the year ended 28 February 2014, filed 29 April 2014: the filing.