Constellation Brands (STZ) FY2020 results: revenue $8.3 billion, up 2.8% on the year
Constellation Brands, Inc. (STZ) reported revenue of $8.3 billion for fiscal 2020, the year ended 29 February 2020, up 2.8% on the year before. Net income was -$12 million, and diluted earnings per share $-0.07. The figures are the company's own, from the 10-K it filed with the SEC on 21 April 2020.
Revenue
$8.3 billion
+2.8% on the year
FY2013FY2020
Operating margin
25.8%
29.7% a year earlier
FY2013FY2020
Net income
-$12 million
FY2013FY2020
Diluted EPS
-$0.07
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
8,344
8,116
7,580
+2.8%
Cost of revenue
4,192
4,036
3,768
+3.9%
Gross profit
4,152
4,080
3,817
+1.8%
Gross margin
49.8%
50.3%
50.4%
Selling, general and administrative
1,622
1,668
1,533
-2.8%
Operating income
2,154
2,412
2,280
-10.7%
Operating margin
25.8%
29.7%
30.1%
Interest expense
n/a
379
334
Pre-tax income
-945
4,145
2,338
Income tax
-967
686
22.7
Effective tax rate
n/a
16.5%
1.0%
Net income
-11.8
3,436
2,303
Net margin
-0.1%
42.3%
30.4%
Diluted EPS
-$0.07
$17.57
$11.47
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
2,551
2,246
1,931
+13.6%
Capital expenditure
726
886
1,058
-18.0%
Free cash flow
1,825
1,360
874
+34.2%
Free cash flow margin
21.9%
16.8%
11.5%
Cash from investing
-531
-4,832
-1,423
Cash from financing
-2,031
2,593
-601
Depreciation and amortisation
332
339
300
-2.0%
Share-based compensation
60.4
64.1
60.9
-5.8%
Buybacks
50.0
504
1,038
-90.1%
Dividends paid
569
558
400
+2.1%
Diluted shares, weighted
168m
196m
201m
-13.9%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
12,132
12,551
7,975
-3.3%
Non-controlling interest
342
286
16.6
+19.7%
Short-term borrowings
n/a
n/a
747
Debt
12,185
13,616
9,440
-10.5%
Operating lease liabilities
484
0.0
n/a
Other liabilities
2,181
2,778
2,360
-21.5%
Total liabilities and equity
27,323
29,232
20,539
-6.5%
Fixed assets
5,333
5,267
4,790
+1.2%
Goodwill
7,757
8,089
8,083
-4.1%
Intangible assets
2,719
3,198
3,305
-15.0%
Investments
1,117
3,235
672
-65.5%
Cash and equivalents
81.4
93.6
90.3
-13.0%
Receivables
865
847
776
+2.1%
Inventory
1,374
2,130
2,084
-35.5%
Other assets
8,077
6,372
738
+26.8%
Total assets
27,323
29,232
20,539
-6.5%
10-K for the year ended 29 February 2020, filed 21 April 2020: the filing.