Analysis of Solvency Ratios
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Constellation Brands Inc., solvency ratios
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).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Constellation Brands Inc. debt to equity ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Constellation Brands Inc. debt to equity ratio (including operating lease liability) improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Constellation Brands Inc. debt to capital ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Constellation Brands Inc. debt to capital ratio (including operating lease liability) improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Constellation Brands Inc. debt to assets ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Constellation Brands Inc. debt to assets ratio (including operating lease liability) improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Constellation Brands Inc. financial leverage ratio decreased from 2020 to 2021 but then increased from 2021 to 2022 not reaching 2020 level. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Constellation Brands Inc. interest coverage ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Constellation Brands Inc. fixed charge coverage ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
Debt to Equity
Constellation Brands Inc., debt to equity calculation, comparison to benchmarks
| Feb 28, 2022 | Feb 28, 2021 | Feb 29, 2020 | Feb 28, 2019 | Feb 28, 2018 | Feb 28, 2017 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Short-term borrowings | 323,000) | —) | 238,900) | 791,500) | 746,800) | 606,500) | |
| Current maturities of long-term debt | 605,300) | 29,200) | 734,900) | 1,065,200) | 22,300) | 910,900) | |
| Long-term debt, less current maturities | 9,488,200) | 10,413,100) | 11,210,800) | 11,759,800) | 9,417,600) | 7,720,700) | |
| Total debt | 10,416,500) | 10,442,300) | 12,184,600) | 13,616,500) | 10,186,700) | 9,238,100) | |
| Total CBI stockholders’ equity | 11,731,900) | 13,598,900) | 12,131,800) | 12,551,000) | 8,046,100) | 6,891,200) | |
| Solvency Ratio | |||||||
| Debt to equity1 | 0.89 | 0.77 | 1.00 | 1.08 | 1.27 | 1.34 | |
| Benchmarks | |||||||
| Debt to Equity, Competitors2 | |||||||
| Coca-Cola Co. | 1.62 | 1.86 | 2.22 | 2.25 | — | — | |
| Mondelēz International Inc. | 0.85 | 0.69 | 0.73 | 0.68 | — | — | |
| PepsiCo Inc. | 2.28 | 2.51 | 3.28 | 2.17 | — | — | |
| Philip Morris International Inc. | — | — | — | — | — | — | |
| Debt to Equity, Sector | |||||||
| Food, Beverage & Tobacco | 2.44 | 2.28 | 2.90 | — | — | — | |
| Debt to Equity, Industry | |||||||
| Consumer Staples | 1.08 | 1.07 | 1.24 | — | — | — | |
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).
1 2022 Calculation
Debt to equity = Total debt ÷ Total CBI stockholders’ equity
= 10,416,500 ÷ 11,731,900 = 0.89
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Constellation Brands Inc. debt to equity ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
Debt to Equity (including Operating Lease Liability)
Constellation Brands Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks
| Feb 28, 2022 | Feb 28, 2021 | Feb 29, 2020 | Feb 28, 2019 | Feb 28, 2018 | Feb 28, 2017 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Short-term borrowings | 323,000) | —) | 238,900) | 791,500) | 746,800) | 606,500) | |
| Current maturities of long-term debt | 605,300) | 29,200) | 734,900) | 1,065,200) | 22,300) | 910,900) | |
| Long-term debt, less current maturities | 9,488,200) | 10,413,100) | 11,210,800) | 11,759,800) | 9,417,600) | 7,720,700) | |
| Total debt | 10,416,500) | 10,442,300) | 12,184,600) | 13,616,500) | 10,186,700) | 9,238,100) | |
| Current operating lease liability | 80,400) | 68,800) | 76,600) | —) | —) | —) | |
| Noncurrent operating lease liability | 457,300) | 471,100) | 483,600) | —) | —) | —) | |
| Total debt (including operating lease liability) | 10,954,200) | 10,982,200) | 12,744,800) | 13,616,500) | 10,186,700) | 9,238,100) | |
| Total CBI stockholders’ equity | 11,731,900) | 13,598,900) | 12,131,800) | 12,551,000) | 8,046,100) | 6,891,200) | |
| Solvency Ratio | |||||||
| Debt to equity (including operating lease liability)1 | 0.93 | 0.81 | 1.05 | 1.08 | 1.27 | 1.34 | |
| Benchmarks | |||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | |||||||
| Coca-Cola Co. | 1.68 | 1.92 | 2.30 | 2.33 | — | — | |
| Mondelēz International Inc. | 0.88 | 0.71 | 0.75 | 0.70 | — | — | |
| PepsiCo Inc. | 2.42 | 2.64 | 3.41 | 2.27 | — | — | |
| Philip Morris International Inc. | — | — | — | — | — | — | |
| Debt to Equity (including Operating Lease Liability), Sector | |||||||
| Food, Beverage & Tobacco | 2.53 | 2.36 | 3.00 | — | — | — | |
| Debt to Equity (including Operating Lease Liability), Industry | |||||||
| Consumer Staples | 1.20 | 1.19 | 1.39 | — | — | — | |
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).
1 2022 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total CBI stockholders’ equity
= 10,954,200 ÷ 11,731,900 = 0.93
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Constellation Brands Inc. debt to equity ratio (including operating lease liability) improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
Debt to Capital
Constellation Brands Inc., debt to capital calculation, comparison to benchmarks
| Feb 28, 2022 | Feb 28, 2021 | Feb 29, 2020 | Feb 28, 2019 | Feb 28, 2018 | Feb 28, 2017 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Short-term borrowings | 323,000) | —) | 238,900) | 791,500) | 746,800) | 606,500) | |
| Current maturities of long-term debt | 605,300) | 29,200) | 734,900) | 1,065,200) | 22,300) | 910,900) | |
| Long-term debt, less current maturities | 9,488,200) | 10,413,100) | 11,210,800) | 11,759,800) | 9,417,600) | 7,720,700) | |
| Total debt | 10,416,500) | 10,442,300) | 12,184,600) | 13,616,500) | 10,186,700) | 9,238,100) | |
| Total CBI stockholders’ equity | 11,731,900) | 13,598,900) | 12,131,800) | 12,551,000) | 8,046,100) | 6,891,200) | |
| Total capital | 22,148,400) | 24,041,200) | 24,316,400) | 26,167,500) | 18,232,800) | 16,129,300) | |
| Solvency Ratio | |||||||
| Debt to capital1 | 0.47 | 0.43 | 0.50 | 0.52 | 0.56 | 0.57 | |
| Benchmarks | |||||||
| Debt to Capital, Competitors2 | |||||||
| Coca-Cola Co. | 0.62 | 0.65 | 0.69 | 0.69 | — | — | |
| Mondelēz International Inc. | 0.46 | 0.41 | 0.42 | 0.40 | — | — | |
| PepsiCo Inc. | 0.69 | 0.72 | 0.77 | 0.68 | — | — | |
| Philip Morris International Inc. | 1.26 | 1.57 | 1.66 | 1.59 | — | — | |
| Debt to Capital, Sector | |||||||
| Food, Beverage & Tobacco | 0.71 | 0.70 | 0.74 | — | — | — | |
| Debt to Capital, Industry | |||||||
| Consumer Staples | 0.52 | 0.52 | 0.55 | — | — | — | |
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).
1 2022 Calculation
Debt to capital = Total debt ÷ Total capital
= 10,416,500 ÷ 22,148,400 = 0.47
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Constellation Brands Inc. debt to capital ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
Debt to Capital (including Operating Lease Liability)
Constellation Brands Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks
| Feb 28, 2022 | Feb 28, 2021 | Feb 29, 2020 | Feb 28, 2019 | Feb 28, 2018 | Feb 28, 2017 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Short-term borrowings | 323,000) | —) | 238,900) | 791,500) | 746,800) | 606,500) | |
| Current maturities of long-term debt | 605,300) | 29,200) | 734,900) | 1,065,200) | 22,300) | 910,900) | |
| Long-term debt, less current maturities | 9,488,200) | 10,413,100) | 11,210,800) | 11,759,800) | 9,417,600) | 7,720,700) | |
| Total debt | 10,416,500) | 10,442,300) | 12,184,600) | 13,616,500) | 10,186,700) | 9,238,100) | |
| Current operating lease liability | 80,400) | 68,800) | 76,600) | —) | —) | —) | |
| Noncurrent operating lease liability | 457,300) | 471,100) | 483,600) | —) | —) | —) | |
| Total debt (including operating lease liability) | 10,954,200) | 10,982,200) | 12,744,800) | 13,616,500) | 10,186,700) | 9,238,100) | |
| Total CBI stockholders’ equity | 11,731,900) | 13,598,900) | 12,131,800) | 12,551,000) | 8,046,100) | 6,891,200) | |
| Total capital (including operating lease liability) | 22,686,100) | 24,581,100) | 24,876,600) | 26,167,500) | 18,232,800) | 16,129,300) | |
| Solvency Ratio | |||||||
| Debt to capital (including operating lease liability)1 | 0.48 | 0.45 | 0.51 | 0.52 | 0.56 | 0.57 | |
| Benchmarks | |||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | |||||||
| Coca-Cola Co. | 0.63 | 0.66 | 0.70 | 0.70 | — | — | |
| Mondelēz International Inc. | 0.47 | 0.42 | 0.43 | 0.41 | — | — | |
| PepsiCo Inc. | 0.71 | 0.73 | 0.77 | 0.69 | — | — | |
| Philip Morris International Inc. | 1.26 | 1.55 | 1.64 | 1.57 | — | — | |
| Debt to Capital (including Operating Lease Liability), Sector | |||||||
| Food, Beverage & Tobacco | 0.72 | 0.70 | 0.75 | — | — | — | |
| Debt to Capital (including Operating Lease Liability), Industry | |||||||
| Consumer Staples | 0.54 | 0.54 | 0.58 | — | — | — | |
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).
1 2022 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 10,954,200 ÷ 22,686,100 = 0.48
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Constellation Brands Inc. debt to capital ratio (including operating lease liability) improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
Debt to Assets
Constellation Brands Inc., debt to assets calculation, comparison to benchmarks
| Feb 28, 2022 | Feb 28, 2021 | Feb 29, 2020 | Feb 28, 2019 | Feb 28, 2018 | Feb 28, 2017 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Short-term borrowings | 323,000) | —) | 238,900) | 791,500) | 746,800) | 606,500) | |
| Current maturities of long-term debt | 605,300) | 29,200) | 734,900) | 1,065,200) | 22,300) | 910,900) | |
| Long-term debt, less current maturities | 9,488,200) | 10,413,100) | 11,210,800) | 11,759,800) | 9,417,600) | 7,720,700) | |
| Total debt | 10,416,500) | 10,442,300) | 12,184,600) | 13,616,500) | 10,186,700) | 9,238,100) | |
| Total assets | 25,855,800) | 27,104,800) | 27,323,200) | 29,231,500) | 20,538,700) | 18,602,400) | |
| Solvency Ratio | |||||||
| Debt to assets1 | 0.40 | 0.39 | 0.45 | 0.47 | 0.50 | 0.50 | |
| Benchmarks | |||||||
| Debt to Assets, Competitors2 | |||||||
| Coca-Cola Co. | 0.42 | 0.45 | 0.49 | 0.50 | — | — | |
| Mondelēz International Inc. | 0.32 | 0.29 | 0.30 | 0.29 | — | — | |
| PepsiCo Inc. | 0.42 | 0.44 | 0.48 | 0.41 | — | — | |
| Philip Morris International Inc. | 0.70 | 0.67 | 0.70 | 0.72 | — | — | |
| Debt to Assets, Sector | |||||||
| Food, Beverage & Tobacco | 0.45 | 0.44 | 0.47 | — | — | — | |
| Debt to Assets, Industry | |||||||
| Consumer Staples | 0.30 | 0.30 | 0.33 | — | — | — | |
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).
1 2022 Calculation
Debt to assets = Total debt ÷ Total assets
= 10,416,500 ÷ 25,855,800 = 0.40
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Constellation Brands Inc. debt to assets ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
Debt to Assets (including Operating Lease Liability)
Constellation Brands Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks
| Feb 28, 2022 | Feb 28, 2021 | Feb 29, 2020 | Feb 28, 2019 | Feb 28, 2018 | Feb 28, 2017 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Short-term borrowings | 323,000) | —) | 238,900) | 791,500) | 746,800) | 606,500) | |
| Current maturities of long-term debt | 605,300) | 29,200) | 734,900) | 1,065,200) | 22,300) | 910,900) | |
| Long-term debt, less current maturities | 9,488,200) | 10,413,100) | 11,210,800) | 11,759,800) | 9,417,600) | 7,720,700) | |
| Total debt | 10,416,500) | 10,442,300) | 12,184,600) | 13,616,500) | 10,186,700) | 9,238,100) | |
| Current operating lease liability | 80,400) | 68,800) | 76,600) | —) | —) | —) | |
| Noncurrent operating lease liability | 457,300) | 471,100) | 483,600) | —) | —) | —) | |
| Total debt (including operating lease liability) | 10,954,200) | 10,982,200) | 12,744,800) | 13,616,500) | 10,186,700) | 9,238,100) | |
| Total assets | 25,855,800) | 27,104,800) | 27,323,200) | 29,231,500) | 20,538,700) | 18,602,400) | |
| Solvency Ratio | |||||||
| Debt to assets (including operating lease liability)1 | 0.42 | 0.41 | 0.47 | 0.47 | 0.50 | 0.50 | |
| Benchmarks | |||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | |||||||
| Coca-Cola Co. | 0.44 | 0.47 | 0.51 | 0.51 | — | — | |
| Mondelēz International Inc. | 0.33 | 0.30 | 0.31 | 0.29 | — | — | |
| PepsiCo Inc. | 0.45 | 0.46 | 0.49 | 0.43 | — | — | |
| Philip Morris International Inc. | 0.71 | 0.69 | 0.72 | 0.74 | — | — | |
| Debt to Assets (including Operating Lease Liability), Sector | |||||||
| Food, Beverage & Tobacco | 0.47 | 0.46 | 0.49 | — | — | — | |
| Debt to Assets (including Operating Lease Liability), Industry | |||||||
| Consumer Staples | 0.33 | 0.33 | 0.37 | — | — | — | |
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).
1 2022 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 10,954,200 ÷ 25,855,800 = 0.42
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Constellation Brands Inc. debt to assets ratio (including operating lease liability) improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
Financial Leverage
Constellation Brands Inc., financial leverage calculation, comparison to benchmarks
| Feb 28, 2022 | Feb 28, 2021 | Feb 29, 2020 | Feb 28, 2019 | Feb 28, 2018 | Feb 28, 2017 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Total assets | 25,855,800) | 27,104,800) | 27,323,200) | 29,231,500) | 20,538,700) | 18,602,400) | |
| Total CBI stockholders’ equity | 11,731,900) | 13,598,900) | 12,131,800) | 12,551,000) | 8,046,100) | 6,891,200) | |
| Solvency Ratio | |||||||
| Financial leverage1 | 2.20 | 1.99 | 2.25 | 2.33 | 2.55 | 2.70 | |
| Benchmarks | |||||||
| Financial Leverage, Competitors2 | |||||||
| Coca-Cola Co. | 3.85 | 4.10 | 4.52 | 4.55 | — | — | |
| Mondelēz International Inc. | 2.65 | 2.37 | 2.46 | 2.37 | — | — | |
| PepsiCo Inc. | 5.38 | 5.76 | 6.91 | 5.31 | — | — | |
| Philip Morris International Inc. | — | — | — | — | — | — | |
| Financial Leverage, Sector | |||||||
| Food, Beverage & Tobacco | 5.37 | 5.16 | 6.13 | — | — | — | |
| Financial Leverage, Industry | |||||||
| Consumer Staples | 3.59 | 3.59 | 3.76 | — | — | — | |
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).
1 2022 Calculation
Financial leverage = Total assets ÷ Total CBI stockholders’ equity
= 25,855,800 ÷ 11,731,900 = 2.20
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Constellation Brands Inc. financial leverage ratio decreased from 2020 to 2021 but then increased from 2021 to 2022 not reaching 2020 level. |
Interest Coverage
Constellation Brands Inc., interest coverage calculation, comparison to benchmarks
| Feb 28, 2022 | Feb 28, 2021 | Feb 29, 2020 | Feb 28, 2019 | Feb 28, 2018 | Feb 28, 2017 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Net income (loss) attributable to CBI | (40,400) | 1,998,000) | (11,800) | 3,435,900) | 2,318,900) | 1,535,100) | |
| Add: Net income attributable to noncontrolling interest | 41,400) | 33,800) | 33,200) | 23,200) | 11,900) | 4,100) | |
| Add: Income tax expense | 309,400) | 511,100) | (966,600) | 685,900) | 11,900) | 554,200) | |
| Add: Interest expense | 356,400) | 385,700) | 428,700) | 367,100) | 332,000) | 333,300) | |
| Earnings before interest and tax (EBIT) | 666,800) | 2,928,600) | (516,500) | 4,512,100) | 2,674,700) | 2,426,700) | |
| Solvency Ratio | |||||||
| Interest coverage1 | 1.87 | 7.59 | -1.20 | 12.29 | 8.06 | 7.28 | |
| Benchmarks | |||||||
| Interest Coverage, Competitors2 | |||||||
| Coca-Cola Co. | 14.25 | 8.78 | 7.78 | 12.40 | — | — | |
| Mondelēz International Inc. | 9.39 | 16.08 | 12.33 | 9.03 | — | — | |
| PepsiCo Inc. | 10.57 | 5.94 | 8.24 | 9.20 | — | — | |
| Philip Morris International Inc. | 16.33 | 17.80 | 16.07 | 13.59 | — | — | |
| Interest Coverage, Sector | |||||||
| Food, Beverage & Tobacco | 12.81 | 9.56 | 10.01 | — | — | — | |
| Interest Coverage, Industry | |||||||
| Consumer Staples | 15.69 | 11.46 | 11.62 | — | — | — | |
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).
1 2022 Calculation
Interest coverage = EBIT ÷ Interest expense
= 666,800 ÷ 356,400 = 1.87
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Constellation Brands Inc. interest coverage ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
Fixed Charge Coverage
Constellation Brands Inc., fixed charge coverage calculation, comparison to benchmarks
| Feb 28, 2022 | Feb 28, 2021 | Feb 29, 2020 | Feb 28, 2019 | Feb 28, 2018 | Feb 28, 2017 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Net income (loss) attributable to CBI | (40,400) | 1,998,000) | (11,800) | 3,435,900) | 2,318,900) | 1,535,100) | |
| Add: Net income attributable to noncontrolling interest | 41,400) | 33,800) | 33,200) | 23,200) | 11,900) | 4,100) | |
| Add: Income tax expense | 309,400) | 511,100) | (966,600) | 685,900) | 11,900) | 554,200) | |
| Add: Interest expense | 356,400) | 385,700) | 428,700) | 367,100) | 332,000) | 333,300) | |
| Earnings before interest and tax (EBIT) | 666,800) | 2,928,600) | (516,500) | 4,512,100) | 2,674,700) | 2,426,700) | |
| Add: Operating lease cost | 89,500) | 93,400) | 98,900) | 63,500) | 59,100) | 59,200) | |
| Earnings before fixed charges and tax | 756,300) | 3,022,000) | (417,600) | 4,575,600) | 2,733,800) | 2,485,900) | |
| Interest expense | 356,400) | 385,700) | 428,700) | 367,100) | 332,000) | 333,300) | |
| Operating lease cost | 89,500) | 93,400) | 98,900) | 63,500) | 59,100) | 59,200) | |
| Fixed charges | 445,900) | 479,100) | 527,600) | 430,600) | 391,100) | 392,500) | |
| Solvency Ratio | |||||||
| Fixed charge coverage1 | 1.70 | 6.31 | -0.79 | 10.63 | 6.99 | 6.33 | |
| Benchmarks | |||||||
| Fixed Charge Coverage, Competitors2 | |||||||
| Coca-Cola Co. | 10.14 | 7.41 | 6.45 | 9.47 | — | — | |
| Mondelēz International Inc. | 6.60 | 10.28 | 8.27 | 6.51 | — | — | |
| PepsiCo Inc. | 7.28 | 4.85 | 6.06 | 6.79 | — | — | |
| Philip Morris International Inc. | 12.59 | 13.43 | 11.50 | 9.88 | — | — | |
| Fixed Charge Coverage, Sector | |||||||
| Food, Beverage & Tobacco | 9.14 | 7.60 | 7.54 | — | — | — | |
| Fixed Charge Coverage, Industry | |||||||
| Consumer Staples | 9.06 | 7.46 | 7.19 | — | — | — | |
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).
1 2022 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 756,300 ÷ 445,900 = 1.70
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Constellation Brands Inc. fixed charge coverage ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |