Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
EV to EBITDA Ratio, Current
EV to EBITDA Ratio, Historical

Constellation Brands Inc., EBITDA calculation

US$ in thousands

12 months ended:	Feb 28, 2022	Feb 28, 2021	Feb 29, 2020	Feb 28, 2019	Feb 28, 2018	Feb 28, 2017
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)
Earnings before tax (EBT)	310,400)	2,542,900)	(945,200)	4,145,000)	2,342,700)	2,093,400)
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: Depreciation	337,300)	293,800)	326,500)	333,100)	293,800)	237,500)
Add: Impairment and amortization of intangible assets	5,100)	11,300)	16,700)	114,000)	92,700)	56,400)
Earnings before interest, tax, depreciation and amortization (EBITDA)	1,009,200)	3,233,700)	(173,300)	4,959,200)	3,061,200)	2,720,600)

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).

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Item	Description	The company
EBITDA	To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital.	Constellation Brands Inc. EBITDA increased from 2020 to 2021 but then slightly decreased from 2021 to 2022 not reaching 2020 level.

Constellation Brands Inc., current EV/EBITDA calculation, comparison to benchmarks

Selected Financial Data (US$ in thousands)
Enterprise value (EV)	49,045,081)
Earnings before interest, tax, depreciation and amortization (EBITDA)	1,009,200)
Valuation Ratio
EV/EBITDA	48.60
Benchmarks
EV/EBITDA, Competitors¹
Coca-Cola Co.	19.26
Mondelēz International Inc.	11.37
PepsiCo Inc.	15.22
Philip Morris International Inc.	18.34
EV/EBITDA, Sector
Food, Beverage & Tobacco	18.69
EV/EBITDA, Industry
Consumer Staples	21.49

Based on: 10-K (reporting date: 2022-02-28).

¹ Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.

Constellation Brands Inc., historical EV/EBITDA 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)
Enterprise value (EV)¹	58,379,762)	56,550,645)	41,954,208)	53,510,359)	53,800,019)	42,376,898)
Earnings before interest, tax, depreciation and amortization (EBITDA)²	1,009,200)	3,233,700)	(173,300)	4,959,200)	3,061,200)	2,720,600)
Valuation Ratio
EV/EBITDA³	57.85	17.49	—	10.79	17.57	15.58
Benchmarks
EV/EBITDA, Competitors⁴
Coca-Cola Co.	20.83	19.52	19.66	21.79	—	—
Mondelēz International Inc.	21.64	15.62	15.14	18.69	—	—
PepsiCo Inc.	18.63	18.42	17.17	17.85	—	—
Philip Morris International Inc.	14.78	13.64	12.59	13.77	—	—
EV/EBITDA, Sector
Food, Beverage & Tobacco	18.49	17.05	16.29	—	—	—
EV/EBITDA, Industry
Consumer Staples	16.42	15.65	14.89	—	—	—

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 See details »

² See details »

³ 2022 Calculation
EV/EBITDA = EV ÷ EBITDA
= 58,379,762 ÷ 1,009,200 = 57.85

⁴ Click competitor name to see calculations.

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Constellation Brands Inc. (NYSE:STZ)

Enterprise Value to EBITDA (EV/EBITDA)

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Enterprise Value to EBITDA Ratio, Current

Enterprise Value to EBITDA Ratio, Historical