Income StatementBalance SheetCash FlowSegments
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Constellation Brands Cash Flow Statement

Operating, investing, and financing cash movements

Constellation Brands generated $2.7B in operating cash flow over the trailing twelve months. After $875.0M in capital expenditures, free cash flow was $1.8B. Free cash flow decreased 0.1% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$2.7BNet Cash From Investing (TTM)-$1.5BNet Cash From Financing (TTM)-$2.7BCapital Expenditures (TTM)$875.0MDepreciation And Amortization Cf (TTM)$418.7MNet Change In Cash (TTM)-$18.7M
Latest FilingQ1 2026
Report Date2026-04-22
Market Cap$25.4B
P/E Ratio15.07
ROE22.54%

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisitions, net of cash acquired$400.0K———$0.0$0.0
Capital expenditures$228.4M$282.6M$192.8M$217.3M$246.0M$218.9M
Net cash from investing activities-$240.6M—-$196.1M$660.9M——
Proceeds from sale of businesses$0.0$409.2M$3.7M$847.4M——
Proceeds from sale of property, plant and equipment$2.0M$700.0K$0.0$30.8M$11.8M$16.4M
Purchases of investments$12.1M$3.9M$7.0M——$11.0M

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Change in accounts payable——$36.7M$16.3M-$60.9M—
Change in accrued liabilities-$62.0M—-$92.3M—-$75.5M-$15.5M
Change in deferred revenue-$21.5M-$23.7M$6.3M-$56.7M-$16.2M-$4.9M
Change in inventories$68.9M$98.0M$20.8M$27.5M-$49.2M$49.2M
Change in other assets—$42.2M$25.8M$31.0M-$49.8M-$10.4M
Other working capital changes-$11.1M-$21.3M$50.5M-$116.1M-$2.5M-$104.5M
Change in receivables—-$98.0M$73.9M-$146.1M—-$51.7M
Deferred income taxes-$5.7M-$26.1M$34.0M$243.6M$34.1M$198.8M
Depreciation and amortization$119.0M$105.9M$105.2M$102.7M$99.0M$111.8M
Distributions from equity method investments$23.9M—$625.0K$625.0K$625.0K$625.0K
Gain (loss) on sale of assets—$266.0M-$8.0M-$8.0M-$8.0M-$8.0M
Impairment charges$0.0$547.7M$0.0$0.0$0.0$0.0
Net cash from operating activities$685.2M$594.7M$637.2M$852.1M$616.9M$562.8M
Asset impairment and related expenses$0.0$478.0M$52.1M$0.0$0.0$57.7M
Net gain (loss) in connection with exchangeable shares-$38.6M—$0.0$0.0$0.0—
Stock-based compensation$19.7M$11.5M$10.4M$21.7M$15.9M$19.7M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Proceeds from issuance of debt$0.0$0.0$499.1M—$498.6M—
Repayments of debt$401.7M$1.0M$1.0M$901.1M$501.2M$1.1M
Distributions to noncontrolling interests$15.0M$10.0M$7.5M$10.0M$20.0M$25.0M
Dividends paid$182.7M$180.5M$182.2M$178.9M$177.7M$176.9M
Net cash from financing activities-$434.8M-$723.0M-$437.6M-$1.5B-$301.6M-$401.3M
Other financing activities——$1.4M$100.0K——
Proceeds from issuance of common stock$17.8M$7.6M$5.3M——$4.6M
Repurchases of common stock$218.9M$455.7M$306.1M$297.9M$220.1M$100.0M
Net change in short-term borrowings$382.0M—-$429.2M-$125.0M—-$102.8M
Taxes paid for net share settlement——$9.4M$100.0K——

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$456.8M$312.1M$444.4M$634.8M$370.9M$343.9M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash$25.0K$25.0K———$2.1M
Net increase (decrease) in cash—-$5.6M$5.8M—$80.4M—

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income taxes paid$49.3M$49.3M$43.4M$43.4M$43.4M$43.4M
Transfer to investments$2.3M$2.3M———$0.0
Interest paid$104.0M$104.0M$86.6M$86.6M$86.6M$86.6M