Constellation Brands (STZ) FY2017 results: revenue $7.3 billion, up 1.3% on the year
Constellation Brands, Inc. (STZ) reported revenue of $7.3 billion for fiscal 2017, the year ended 28 February 2017, up 1.3% on the year before. Net income was $1.5 billion, up 44.9%. The figures are the company's own, from the 10-K it filed with the SEC on 23 April 2019.
Revenue
$7.3 billion
+1.3% on the year
FY2010FY2017
Operating margin
32.6%
24.4% a year earlier
FY2010FY2017
Net income
$1.5 billion
+44.9% on the year
FY2010FY2017
Diluted EPS
n/a
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
7,321
7,224
6,672
+1.3%
Cost of revenue
3,802
3,606
3,449
+5.4%
Gross profit
3,519
2,942
2,579
+19.6%
Gross margin
48.1%
40.7%
38.6%
Selling, general and administrative
1,392
1,177
1,078
+18.3%
Operating income
2,389
1,765
1,500
+35.3%
Operating margin
32.6%
24.4%
22.5%
Interest expense
335
315
339
+6.5%
Pre-tax income
2,083
1,501
1,180
+38.8%
Income tax
550
441
343
+24.9%
Effective tax rate
26.4%
29.3%
29.1%
Net income
1,529
1,055
839
+44.9%
Net margin
20.9%
14.6%
12.6%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
1,696
1,414
1,081
+20.0%
Capital expenditure
907
891
719
+1.8%
Free cash flow
789
522
362
+51.0%
Free cash flow margin
10.8%
7.2%
5.4%
Cash from investing
n/a
n/a
-1,016
Cash from financing
n/a
n/a
-16.4
Depreciation and amortisation
248
221
202
+12.2%
Share-based compensation
56.1
54.0
55.0
+3.9%
Buybacks
1,123
33.8
0.0
+3,221.6%
Dividends paid
315
242
0.0
+30.4%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
6,891
6,560
5,771
+5.1%
Non-controlling interest
n/a
132
111
Short-term borrowings
606
n/a
n/a
Debt
8,632
7,673
7,244
+12.5%
Other liabilities
2,473
2,600
1,968
-4.9%
Total liabilities and equity
18,602
16,965
15,093
+9.7%
Fixed assets
3,933
3,333
2,682
+18.0%
Goodwill
7,920
7,139
6,208
+11.0%
Intangible assets
3,378
3,404
3,181
-0.8%
Cash and equivalents
177
83.1
110
+113.5%
Receivables
737
732
599
+0.6%
Inventory
1,955
1,852
1,827
+5.6%
Other assets
502
422
486
+18.9%
Total assets
18,602
16,965
15,093
+9.7%
10-K for the year ended 28 February 2017, filed 23 April 2019: the filing.