Constellation Brands, Inc. (STZ) 株式分析

企業概要

Constellation Brands, Inc. operates as a leading producer, importer, marketer, and seller of beer, wine, and spirits across the United States, Canada, Mexico, New Zealand, and Italy, establishing a significant presence in the global alcoholic beverage landscape. The company functions within the Consumer Defensive sector under the Beverages - Brewers industry, providing essential goods that typically exhibit lower sensitivity to economic downturns compared to discretionary spending sectors. With a market capitalization of $26.16B, an annual revenue of $9.38B, and an employee base of 10,600, the firm demonstrates substantial scale and operational reach. These valuation and revenue figures indicate that the company maintains a dominant position in its respective market, reflecting a mature business model supported by a large workforce and significant asset base that facilitates broad distribution networks.

財務健全性

The company reported a total revenue of $9.38B and generated net income of $1.11B, while achieving an EBITDA of $3.55B for the trailing twelve months. The significant gap between revenue and net income reveals a substantial cost structure, where operating expenses and taxes consume approximately 88.2% of total sales before reaching the bottom line. Free cash flow stands at $1.97B, which indicates a strong capacity to generate liquidity for operational needs, capital expenditures, and potential shareholder returns without relying solely on external financing. The gross margin of 52.1% reflects high pricing power and efficient production costs, while the operating margin of 33.9% and profit margin of 11.8% demonstrate effective cost management and control over operating expenses relative to sales. Despite holding cash reserves of $152.40M, the company carries total debt of $10.66B, resulting in a debt-to-equity ratio of 133.29% that suggests a leveraged balance sheet reliant on equity financing to support its obligations. The current ratio of 1.34 indicates that the company possesses sufficient current assets to cover its short-term liabilities, ensuring adequate liquidity to meet immediate financial commitments. Return on equity is measured at 14.5%, and return on assets is 8.8%, metrics that collectively reveal management's effectiveness in generating profits from shareholders' investments and the total asset base, respectively.

バリュエーション評価

Constellation Brands, Inc. trades with a trailing twelve-month P/E ratio of 15.62 and a forward P/E of 12.16, where the difference between these multiples implies that the market expects a contraction in earnings relative to current levels in the near future. The price-to-book ratio is recorded at 3.38, indicating that the stock trades at a significant premium over its tangible book value, which often reflects the value of its brand equity and market position rather than just physical assets. Alternative valuation metrics include a price-to-sales ratio of 2.79 and an EV/EBITDA of 10.39, which suggest the market values the company's earnings power and sales generation capabilities at a level consistent with other consumer staples peers. The 52-week high is $196.91 and the low is $126.45, providing a clear range within which the security has traded over the past year to assess relative positioning. The beta value of 0.43 indicates that the stock exhibits significantly lower price volatility than the broader market, behaving more like a defensive asset that moves less sharply during periods of market turbulence.

Growth & Income

Revenue growth year-over-year is -9.8% while earnings growth year-over-year is -15.0%, indicating that earnings are contracting at a faster rate than revenue, which implies increasing margin compression or elevated cost pressures affecting profitability more severely than top-line sales. As a dividend payer, the company offers a dividend yield of 2.7% with a payout ratio of 42.5%, a level that suggests the dividend is sustainable given the company's current earnings generation and cash flow capabilities. The declining growth rates highlight a challenging environment for expansion, yet the consistent dividend coverage provides a steady income stream for holders. Overall, the company presents a profile characterized by defensive income characteristics amidst a period of negative growth in both sales and profitability.