Stock Analysis on Net

Constellation Brands Inc. (NYSE:STZ)

$22.49

This company has been moved to the archive! The financial data has not been updated since January 5, 2023.

Analysis of Goodwill and Intangible Assets

Microsoft Excel

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Goodwill and Intangible Asset Disclosure

Constellation Brands Inc., balance sheet: goodwill and intangible assets

US$ in thousands

Microsoft Excel
Feb 28, 2022 Feb 28, 2021 Feb 29, 2020 Feb 28, 2019 Feb 28, 2018 Feb 28, 2017
Goodwill
Customer relationships
Other
Amortizable intangible assets, gross carrying amount
Accumulated amortization
Amortizable intangible assets, net carrying amount
Trademarks
Nonamortizable intangible assets
Intangible assets
Goodwill and intangible assets

Based on: 10-K (reporting date: 2022-02-28), 10-K (reporting date: 2021-02-28), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-02-28), 10-K (reporting date: 2018-02-28), 10-K (reporting date: 2017-02-28).

Item Description The company
Goodwill Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Constellation Brands Inc. goodwill increased from 2020 to 2021 and from 2021 to 2022.
Intangible assets Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Constellation Brands Inc. intangible assets increased from 2020 to 2021 and from 2021 to 2022.
Goodwill and intangible assets Sum of the carrying amounts of all intangible assets, including goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Constellation Brands Inc. goodwill and intangible assets increased from 2020 to 2021 and from 2021 to 2022.

Adjustments to Financial Statements: Removal of Goodwill

Constellation Brands Inc., adjustments to financial statements

US$ in thousands

Microsoft Excel
Feb 28, 2022 Feb 28, 2021 Feb 29, 2020 Feb 28, 2019 Feb 28, 2018 Feb 28, 2017
Adjustment to Total Assets
Total assets (as reported)
Less: Goodwill
Total assets (adjusted)
Adjustment to Total CBI Stockholders’ Equity
Total CBI stockholders’ equity (as reported)
Less: Goodwill
Total CBI stockholders’ equity (adjusted)

Based on: 10-K (reporting date: 2022-02-28), 10-K (reporting date: 2021-02-28), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-02-28), 10-K (reporting date: 2018-02-28), 10-K (reporting date: 2017-02-28).


Constellation Brands Inc., Financial Data: Reported vs. Adjusted


Adjusted Financial Ratios: Removal of Goodwill (Summary)

Constellation Brands Inc., adjusted financial ratios

Microsoft Excel
Feb 28, 2022 Feb 28, 2021 Feb 29, 2020 Feb 28, 2019 Feb 28, 2018 Feb 28, 2017
Total Asset Turnover
Reported total asset turnover
Adjusted total asset turnover
Financial Leverage
Reported financial leverage
Adjusted financial leverage
Return on Equity (ROE)
Reported ROE
Adjusted ROE
Return on Assets (ROA)
Reported ROA
Adjusted ROA

Based on: 10-K (reporting date: 2022-02-28), 10-K (reporting date: 2021-02-28), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-02-28), 10-K (reporting date: 2018-02-28), 10-K (reporting date: 2017-02-28).

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Constellation Brands Inc. adjusted total asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022.
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.
Constellation Brands Inc. adjusted financial leverage ratio decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.
Adjusted ROE A profitability ratio calculated as net income divided by adjusted shareholders’ equity. Constellation Brands Inc. adjusted ROE improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.
Adjusted ROA A profitability ratio calculated as net income divided by adjusted total assets. Constellation Brands Inc. adjusted ROA improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.

Constellation Brands Inc., Financial Ratios: Reported vs. Adjusted


Adjusted Total Asset Turnover

Microsoft Excel
Feb 28, 2022 Feb 28, 2021 Feb 29, 2020 Feb 28, 2019 Feb 28, 2018 Feb 28, 2017
As Reported
Selected Financial Data (US$ in thousands)
Net sales
Total assets
Activity Ratio
Total asset turnover1
Adjusted for Goodwill
Selected Financial Data (US$ in thousands)
Net sales
Adjusted total assets
Activity Ratio
Adjusted total asset turnover2

Based on: 10-K (reporting date: 2022-02-28), 10-K (reporting date: 2021-02-28), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-02-28), 10-K (reporting date: 2018-02-28), 10-K (reporting date: 2017-02-28).

2022 Calculations

1 Total asset turnover = Net sales ÷ Total assets
= ÷ =

2 Adjusted total asset turnover = Net sales ÷ Adjusted total assets
= ÷ =

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Constellation Brands Inc. adjusted total asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022.

Adjusted Financial Leverage

Microsoft Excel
Feb 28, 2022 Feb 28, 2021 Feb 29, 2020 Feb 28, 2019 Feb 28, 2018 Feb 28, 2017
As Reported
Selected Financial Data (US$ in thousands)
Total assets
Total CBI stockholders’ equity
Solvency Ratio
Financial leverage1
Adjusted for Goodwill
Selected Financial Data (US$ in thousands)
Adjusted total assets
Adjusted total CBI stockholders’ equity
Solvency Ratio
Adjusted financial leverage2

Based on: 10-K (reporting date: 2022-02-28), 10-K (reporting date: 2021-02-28), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-02-28), 10-K (reporting date: 2018-02-28), 10-K (reporting date: 2017-02-28).

2022 Calculations

1 Financial leverage = Total assets ÷ Total CBI stockholders’ equity
= ÷ =

2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted total CBI stockholders’ equity
= ÷ =

Solvency ratio Description The company
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.
Constellation Brands Inc. adjusted financial leverage ratio decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.

Adjusted Return on Equity (ROE)

Microsoft Excel
Feb 28, 2022 Feb 28, 2021 Feb 29, 2020 Feb 28, 2019 Feb 28, 2018 Feb 28, 2017
As Reported
Selected Financial Data (US$ in thousands)
Net income (loss) attributable to CBI
Total CBI stockholders’ equity
Profitability Ratio
ROE1
Adjusted for Goodwill
Selected Financial Data (US$ in thousands)
Net income (loss) attributable to CBI
Adjusted total CBI stockholders’ equity
Profitability Ratio
Adjusted ROE2

Based on: 10-K (reporting date: 2022-02-28), 10-K (reporting date: 2021-02-28), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-02-28), 10-K (reporting date: 2018-02-28), 10-K (reporting date: 2017-02-28).

2022 Calculations

1 ROE = 100 × Net income (loss) attributable to CBI ÷ Total CBI stockholders’ equity
= 100 × ÷ =

2 Adjusted ROE = 100 × Net income (loss) attributable to CBI ÷ Adjusted total CBI stockholders’ equity
= 100 × ÷ =

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as net income divided by adjusted shareholders’ equity. Constellation Brands Inc. adjusted ROE improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.

Adjusted Return on Assets (ROA)

Microsoft Excel
Feb 28, 2022 Feb 28, 2021 Feb 29, 2020 Feb 28, 2019 Feb 28, 2018 Feb 28, 2017
As Reported
Selected Financial Data (US$ in thousands)
Net income (loss) attributable to CBI
Total assets
Profitability Ratio
ROA1
Adjusted for Goodwill
Selected Financial Data (US$ in thousands)
Net income (loss) attributable to CBI
Adjusted total assets
Profitability Ratio
Adjusted ROA2

Based on: 10-K (reporting date: 2022-02-28), 10-K (reporting date: 2021-02-28), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-02-28), 10-K (reporting date: 2018-02-28), 10-K (reporting date: 2017-02-28).

2022 Calculations

1 ROA = 100 × Net income (loss) attributable to CBI ÷ Total assets
= 100 × ÷ =

2 Adjusted ROA = 100 × Net income (loss) attributable to CBI ÷ Adjusted total assets
= 100 × ÷ =

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as net income divided by adjusted total assets. Constellation Brands Inc. adjusted ROA improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.