Stock Analysis on Net

Constellation Brands Inc. (NYSE:STZ)

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

Analysis of Short-term (Operating) Activity Ratios

Microsoft Excel

Short-term Activity Ratios (Summary)

Constellation Brands Inc., short-term (operating) activity ratios

Microsoft Excel
Feb 28, 2022 Feb 28, 2021 Feb 29, 2020 Feb 28, 2019 Feb 28, 2018 Feb 28, 2017
Turnover Ratios
Inventory turnover 2.61 3.21 3.05 1.89 1.81 1.94
Receivables turnover 9.81 10.97 9.65 9.58 9.77 9.95
Payables turnover 4.57 9.02 7.52 6.54 6.36 6.79
Working capital turnover 13.98 4.85 7.12 15.60 4.96 13.77
Average No. Days
Average inventory processing period 140 114 120 193 202 188
Add: Average receivable collection period 37 33 38 38 37 37
Operating cycle 177 147 158 231 239 225
Less: Average payables payment period 80 40 49 56 57 54
Cash conversion cycle 97 107 109 175 182 171

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).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Constellation Brands Inc. inventory turnover ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.
Receivables turnover An activity ratio equal to revenue divided by receivables. Constellation Brands Inc. receivables turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Constellation Brands Inc. payables turnover ratio increased from 2020 to 2021 but then decreased significantly from 2021 to 2022.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Constellation Brands Inc. working capital turnover ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Constellation Brands Inc. number of days of inventory outstanding improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Constellation Brands Inc. number of days of receivables outstanding improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Constellation Brands Inc. operating cycle improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Constellation Brands Inc. number of days of payables outstanding decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Constellation Brands Inc. cash conversion cycle improved from 2020 to 2021 and from 2021 to 2022.

Inventory Turnover

Constellation Brands Inc., inventory turnover calculation, comparison to benchmarks

Microsoft Excel
Feb 28, 2022 Feb 28, 2021 Feb 29, 2020 Feb 28, 2019 Feb 28, 2018 Feb 28, 2017
Selected Financial Data (US$ in thousands)
Cost of product sold 4,113,400 4,148,900 4,191,600 4,035,700 3,767,800 3,802,100
Inventories 1,573,200 1,291,100 1,373,600 2,130,400 2,084,000 1,955,100
Short-term Activity Ratio
Inventory turnover1 2.61 3.21 3.05 1.89 1.81 1.94
Benchmarks
Inventory Turnover, Competitors2
Altria Group Inc. 5.46 5.96 3.98 3.09
Coca-Cola Co. 4.25 4.50 4.11 4.33
PepsiCo Inc. 7.77 8.53 7.62 9.03
Philip Morris International Inc. 1.15 1.15 1.00 1.14
Inventory Turnover, Sector
Food, Beverage & Tobacco 3.72 3.94 3.30 3.42
Inventory Turnover, Industry
Consumer Staples 6.96 7.97 7.50 7.42

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
Inventory turnover = Cost of product sold ÷ Inventories
= 4,113,400 ÷ 1,573,200 = 2.61

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Constellation Brands Inc. inventory turnover ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.

Receivables Turnover

Constellation Brands Inc., receivables turnover calculation, comparison to benchmarks

Microsoft Excel
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 sales 8,820,700 8,614,900 8,343,500 8,116,000 7,585,000 7,331,500
Accounts receivable 899,000 785,300 864,800 846,900 776,200 737,000
Short-term Activity Ratio
Receivables turnover1 9.81 10.97 9.65 9.58 9.77 9.95
Benchmarks
Receivables Turnover, Competitors2
Altria Group Inc. 522.83 553.47 190.90 165.20
Coca-Cola Co. 12.33 11.01 10.50 9.38
PepsiCo Inc. 8.50 9.16 8.37 8.59
Philip Morris International Inc. 8.25 10.06 9.88 9.68
Receivables Turnover, Sector
Food, Beverage & Tobacco 10.61 11.43 10.85 10.61
Receivables Turnover, Industry
Consumer Staples 35.12 38.75 37.54 34.71

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
Receivables turnover = Net sales ÷ Accounts receivable
= 8,820,700 ÷ 899,000 = 9.81

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Constellation Brands Inc. receivables turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level.

Payables Turnover

Constellation Brands Inc., payables turnover calculation, comparison to benchmarks

Microsoft Excel
Feb 28, 2022 Feb 28, 2021 Feb 29, 2020 Feb 28, 2019 Feb 28, 2018 Feb 28, 2017
Selected Financial Data (US$ in thousands)
Cost of product sold 4,113,400 4,148,900 4,191,600 4,035,700 3,767,800 3,802,100
Accounts payable 899,200 460,000 557,600 616,700 592,200 559,800
Short-term Activity Ratio
Payables turnover1 4.57 9.02 7.52 6.54 6.36 6.79
Benchmarks
Payables Turnover, Competitors2
Altria Group Inc. 11.67 15.86 20.57 21.80
Coca-Cola Co. 3.39 3.34 3.82 3.84
PepsiCo Inc. 3.78 3.77 3.59 3.76
Philip Morris International Inc. 2.80 3.01 3.44 4.57
Payables Turnover, Sector
Food, Beverage & Tobacco 3.70 3.82 4.03 4.32
Payables Turnover, Industry
Consumer Staples 6.61 6.91 7.01 7.11

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
Payables turnover = Cost of product sold ÷ Accounts payable
= 4,113,400 ÷ 899,200 = 4.57

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Constellation Brands Inc. payables turnover ratio increased from 2020 to 2021 but then decreased significantly from 2021 to 2022.

Working Capital Turnover

Constellation Brands Inc., working capital turnover calculation, comparison to benchmarks

Microsoft Excel
Feb 28, 2022 Feb 28, 2021 Feb 29, 2020 Feb 28, 2019 Feb 28, 2018 Feb 28, 2017
Selected Financial Data (US$ in thousands)
Current assets 3,329,700 3,044,500 3,484,100 3,684,000 3,474,000 3,230,000
Less: Current liabilities 2,698,800 1,269,100 2,311,800 3,163,800 1,944,700 2,697,600
Working capital 630,900 1,775,400 1,172,300 520,200 1,529,300 532,400
 
Net sales 8,820,700 8,614,900 8,343,500 8,116,000 7,585,000 7,331,500
Short-term Activity Ratio
Working capital turnover1 13.98 4.85 7.12 15.60 4.96 13.77
Benchmarks
Working Capital Turnover, Competitors2
Altria Group Inc.
Coca-Cola Co. 15.00 14.90 7.12
PepsiCo Inc.
Philip Morris International Inc. 15.29 17.73
Working Capital Turnover, Sector
Food, Beverage & Tobacco 37.68
Working Capital Turnover, Industry
Consumer Staples

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
Working capital turnover = Net sales ÷ Working capital
= 8,820,700 ÷ 630,900 = 13.98

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. Constellation Brands Inc. working capital turnover ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level.

Average Inventory Processing Period

Constellation Brands Inc., average inventory processing period calculation, comparison to benchmarks

Microsoft Excel
Feb 28, 2022 Feb 28, 2021 Feb 29, 2020 Feb 28, 2019 Feb 28, 2018 Feb 28, 2017
Selected Financial Data
Inventory turnover 2.61 3.21 3.05 1.89 1.81 1.94
Short-term Activity Ratio (no. days)
Average inventory processing period1 140 114 120 193 202 188
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Altria Group Inc. 67 61 92 118
Coca-Cola Co. 86 81 89 84
PepsiCo Inc. 47 43 48 40
Philip Morris International Inc. 316 317 366 321
Average Inventory Processing Period, Sector
Food, Beverage & Tobacco 98 93 111 107
Average Inventory Processing Period, Industry
Consumer Staples 52 46 49 49

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
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 2.61 = 140

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Constellation Brands Inc. number of days of inventory outstanding improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.

Average Receivable Collection Period

Constellation Brands Inc., average receivable collection period calculation, comparison to benchmarks

Microsoft Excel
Feb 28, 2022 Feb 28, 2021 Feb 29, 2020 Feb 28, 2019 Feb 28, 2018 Feb 28, 2017
Selected Financial Data
Receivables turnover 9.81 10.97 9.65 9.58 9.77 9.95
Short-term Activity Ratio (no. days)
Average receivable collection period1 37 33 38 38 37 37
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Altria Group Inc. 1 1 2 2
Coca-Cola Co. 30 33 35 39
PepsiCo Inc. 43 40 44 43
Philip Morris International Inc. 44 36 37 38
Average Receivable Collection Period, Sector
Food, Beverage & Tobacco 34 32 34 34
Average Receivable Collection Period, Industry
Consumer Staples 10 9 10 11

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
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 9.81 = 37

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Constellation Brands Inc. number of days of receivables outstanding improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level.

Operating Cycle

Constellation Brands Inc., operating cycle calculation, comparison to benchmarks

No. days

Microsoft Excel
Feb 28, 2022 Feb 28, 2021 Feb 29, 2020 Feb 28, 2019 Feb 28, 2018 Feb 28, 2017
Selected Financial Data
Average inventory processing period 140 114 120 193 202 188
Average receivable collection period 37 33 38 38 37 37
Short-term Activity Ratio
Operating cycle1 177 147 158 231 239 225
Benchmarks
Operating Cycle, Competitors2
Altria Group Inc. 68 62 94 120
Coca-Cola Co. 116 114 124 123
PepsiCo Inc. 90 83 92 83
Philip Morris International Inc. 360 353 403 359
Operating Cycle, Sector
Food, Beverage & Tobacco 132 125 145 141
Operating Cycle, Industry
Consumer Staples 62 55 59 60

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
Operating cycle = Average inventory processing period + Average receivable collection period
= 140 + 37 = 177

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period. Constellation Brands Inc. operating cycle improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.

Average Payables Payment Period

Constellation Brands Inc., average payables payment period calculation, comparison to benchmarks

Microsoft Excel
Feb 28, 2022 Feb 28, 2021 Feb 29, 2020 Feb 28, 2019 Feb 28, 2018 Feb 28, 2017
Selected Financial Data
Payables turnover 4.57 9.02 7.52 6.54 6.36 6.79
Short-term Activity Ratio (no. days)
Average payables payment period1 80 40 49 56 57 54
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Altria Group Inc. 31 23 18 17
Coca-Cola Co. 108 109 96 95
PepsiCo Inc. 97 97 102 97
Philip Morris International Inc. 130 121 106 80
Average Payables Payment Period, Sector
Food, Beverage & Tobacco 99 96 91 85
Average Payables Payment Period, Industry
Consumer Staples 55 53 52 51

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
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 4.57 = 80

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Constellation Brands Inc. number of days of payables outstanding decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.

Cash Conversion Cycle

Constellation Brands Inc., cash conversion cycle calculation, comparison to benchmarks

No. days

Microsoft Excel
Feb 28, 2022 Feb 28, 2021 Feb 29, 2020 Feb 28, 2019 Feb 28, 2018 Feb 28, 2017
Selected Financial Data
Average inventory processing period 140 114 120 193 202 188
Average receivable collection period 37 33 38 38 37 37
Average payables payment period 80 40 49 56 57 54
Short-term Activity Ratio
Cash conversion cycle1 97 107 109 175 182 171
Benchmarks
Cash Conversion Cycle, Competitors2
Altria Group Inc. 37 39 76 103
Coca-Cola Co. 8 5 28 28
PepsiCo Inc. -7 -14 -10 -14
Philip Morris International Inc. 230 232 297 279
Cash Conversion Cycle, Sector
Food, Beverage & Tobacco 33 29 54 56
Cash Conversion Cycle, Industry
Consumer Staples 7 2 7 9

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
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 140 + 3780 = 97

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Constellation Brands Inc. cash conversion cycle improved from 2020 to 2021 and from 2021 to 2022.