Income StatementBalance SheetCash FlowSegments
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Constellation Brands Business Segments

Business, geographic, and product segment breakdowns

Constellation Brands generates $9.1B in annual revenue across 2 key segments: Beer (0.1), and Wine and Spirits (0.2). The company-wide operating margin is 29.78%. Based on the Q1 2026 filing.

Beer (TTM)11.2%Wine and Spirits (TTM)17.03%
Latest FilingQ1 2026
Report Date2026-04-22
Market Cap$25.4B
P/E Ratio15.07
ROE22.54%

Geographic

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net Sales$48.1M$48.1M$33.3M$33.3M$33.3M$33.3M

Business Segments

Asset impairment and related expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Beer——$14.4M$14.4M$14.4M$14.4M
Wine and Spirits——$13.0M$13.0M$13.0M$13.0M

CapEx

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Beer$186.7M$233.2M$173.2M$197.0M$211.8M$180.4M
Wine and Spirits$38.0M$48.4M$18.0M$19.5M$32.9M$37.0M
Corporate Operations and Other$3.7M$1.0M$1.6M$800.0K$1.3M$1.5M

Cost of product sold

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Beer-$955.7M-$794.5M-$1.0B-$1.1B-$946.5M-$854.7M
Wine and Spirits-$226.1M-$255.5M-$184.4M-$81.2M-$107.0M-$119.3M
Corporate Operations and Other$0.0$0.0$0.0$0.0$0.0$0.0

D&A

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Beer$93.4M$78.8M$76.8M$82.6M$78.7M$92.8M
Wine and Spirits$20.5M$20.9M$22.2M$14.3M$14.6M$16.0M
Corporate Operations and Other$5.4M$6.5M$6.5M$6.2M$6.0M$3.3M

Depreciation and amortization as a percentage of net sales

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Beer4.6%0.2%3.4%3.5%3.9%0.4%
Wine and Spirits4.8%—7.9%10.5%6.9%—

Foreign currency translation adjustments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Beer-$29.5M$0.0$30.0M$22.5M$11.3M$43.3M
Wine and Spirits——$0.0$0.0$0.0$0.0

General and Administrative Expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Beer-$102.5M-$105.2M-$113.1M-$97.7M-$98.1M-$116.7M
Corporate Operations and Other-$62.9M-$64.6M-$57.5M-$45.6M-$58.3M-$66.9M
Wine and Spirits-$62.1M-$67.3M-$67.2M-$54.6M-$52.5M-$54.6M

Goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Beer$5.1B$5.1B$5.2B$5.2B$5.2B$5.2B
Wine and Spirits$491.3M$0.0$0.0$0.0$0.0$0.0

Goodwill impairment

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Beer$0.0$0.0————
Wine and Spirits$2.3B$490.7M—$2.3B——

Goodwill, Written off Related to Sale of Business Unit

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Beer$0.0$0.0————
Wine and Spirits$18.3M$18.3M————

Marketing

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Beer-$204.3M-$180.9M-$200.5M-$190.7M-$201.6M-$182.1M
Wine and Spirits-$48.0M-$37.3M-$34.9M-$20.0M-$19.9M-$17.7M
Corporate Operations and Other$0.0$0.0$0.0$0.0$0.0$0.0

Marketing as a percentage of net sales

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Beer10.1%0.4%9.0%8.1%10.0%0.3%
Wine and Spirits11.1%—12.4%14.7%9.3%—

Net Sales

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Beer$2.0B$1.7B$2.2B$2.3B$2.0B$1.7B
Wine and Spirits$431.4M$459.8M$280.5M$136.0M$213.1M$194.2M
Corporate Operations and Other$0.0$0.0$0.0$0.0$0.0$0.0

Operating income (loss)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Beer$769.9M$623.8M$873.4M$951.6M$763.5M$572.5M
Corporate Operations and Other-$62.9M-$64.6M-$57.5M-$45.6M-$58.3M-$66.9M
Wine and Spirits$95.2M$99.7M-$6.0M-$19.8M$33.7M$2.6M

Operating margin

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Wine and Spirits22.1%0.9%-2.1%-14.6%15.8%2.2%
Beer37.9%—39.1%40.6%38.0%—

Purchase accounting allocations

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Beer$0.0$0.0————
Wine and Spirits$400.0K$100.0K————

Assets held for sale, estimated fair value

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Wine and Spirits—$879.8M$897.7M——$879.8M