Constellation Brands (STZ) FY2016 results: revenue $7.2 billion, up 8.3% on the year
Constellation Brands, Inc. (STZ) reported revenue of $7.2 billion for fiscal 2016, the year ended 29 February 2016, up 8.3% on the year before. Net income was $1.1 billion, up 25.7%. The figures are the company's own, from the 10-K it filed with the SEC on 25 April 2016.
Revenue
$7.2 billion
+8.3% on the year
FY2009FY2016
Operating margin
24.4%
22.5% a year earlier
FY2009FY2016
Net income
$1.1 billion
+25.7% on the year
FY2009FY2016
Diluted EPS
n/a
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
7,224
6,672
5,411
+8.3%
Cost of revenue
3,606
3,449
2,876
+4.5%
Gross profit
2,942
2,579
1,992
+14.1%
Gross margin
40.7%
38.6%
36.8%
Selling, general and administrative
1,177
1,078
895
+9.2%
Operating income
1,765
1,500
2,438
+17.7%
Operating margin
24.4%
22.5%
45.1%
Interest expense
315
339
331
-7.2%
Pre-tax income
1,501
1,180
2,202
+27.3%
Income tax
441
343
259
+28.3%
Effective tax rate
29.3%
29.1%
11.8%
Net income
1,055
839
1,943
+25.7%
Net margin
14.6%
12.6%
35.9%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,414
1,081
826
+30.8%
Capital expenditure
891
719
224
+23.9%
Free cash flow
522
362
603
+44.5%
Free cash flow margin
7.2%
5.4%
11.1%
Cash from investing
n/a
-1,016
-4,864
Cash from financing
n/a
-16.4
3,777
Depreciation and amortisation
221
202
155
+9.4%
Share-based compensation
54.0
55.0
49.9
-1.8%
Buybacks
33.8
0.0
0.0
Dividends paid
242
0.0
0.0
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
6,560
5,771
4,981
+13.7%
Non-controlling interest
132
111
n/a
+19.5%
Debt
7,673
7,244
6,963
+5.9%
Other liabilities
2,600
1,968
2,358
+32.2%
Total liabilities and equity
16,965
15,093
14,302
+12.4%
Fixed assets
3,333
2,682
2,014
+24.3%
Goodwill
7,139
6,208
6,147
+15.0%
Intangible assets
3,404
3,181
3,231
+7.0%
Cash and equivalents
83.1
110
63.9
-24.5%
Receivables
732
599
626
+22.3%
Inventory
1,852
1,827
1,744
+1.3%
Other assets
422
486
476
-13.2%
Total assets
16,965
15,093
14,302
+12.4%
10-K for the year ended 29 February 2016, filed 25 April 2016: the filing.