Constellation Brands (STZ) FY2023 results: revenue $9.5 billion, up 7.2% on the year
Constellation Brands, Inc. (STZ) reported revenue of $9.5 billion for fiscal 2023, the year ended 28 February 2023, up 7.2% on the year before. Net income was -$71 million, and diluted earnings per share $-0.11. The figures are the company's own, from the 10-K it filed with the SEC on 20 April 2023.
Revenue
$9.5 billion
+7.2% on the year
FY2016FY2023
Operating margin
30.1%
26.4% a year earlier
FY2016FY2023
Net income
-$71 million
FY2016FY2023
Diluted EPS
-$0.11
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
2,757
2,705
2,806
+1.9%
Capital expenditure
1,035
1,027
865
+0.8%
Free cash flow
1,722
1,679
1,942
+2.6%
Free cash flow margin
18.2%
19.0%
22.5%
Cash from investing
-999
-1,036
-87.9
Cash from financing
-1,820
-1,930
-2,347
Depreciation and amortisation
387
342
299
+13.0%
Share-based compensation
68.5
44.9
63.0
+52.6%
Buybacks
1,700
1,390
0.0
+22.3%
Dividends paid
588
573
575
+2.6%
Diluted shares, weighted
n/a
n/a
195m
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
8,414
11,732
13,599
-28.3%
Non-controlling interest
320
316
330
+1.4%
Short-term borrowings
n/a
n/a
0.0
Debt
12,461
10,416
10,442
+19.6%
Operating lease liabilities
417
457
471
-8.7%
Finance lease liabilities
16.7
13.6
n/a
+22.8%
Other liabilities
3,033
2,921
2,262
+3.8%
Total liabilities and equity
24,662
25,856
27,105
-4.6%
Fixed assets
6,865
6,060
5,822
+13.3%
Goodwill
7,925
7,862
7,794
+0.8%
Intangible assets
2,728
2,755
2,732
-1.0%
Investments
93.2
191
1,818
-51.3%
Cash and equivalents
134
199
461
-33.0%
Receivables
902
899
785
+0.3%
Inventory
1,899
1,573
1,291
+20.7%
Other assets
4,117
6,316
6,402
-34.8%
Total assets
24,662
25,856
27,105
-4.6%
10-K for the year ended 28 February 2023, filed 20 April 2023: the filing.