TacticScaleWhat Constellation Brands Does & How It Makes Money (STZ)
Updated October 2026 · reflects Constellation Brands's latest reported financials
Maker and importer of beer, wine, and spirits, led by Corona and Modelo. It makes money by producing and importing branded beer, wine, and spirits and selling them to wholesale distributors, retailers, and state alcohol beverage control agencies.
How Constellation Brands makes money
It makes money by producing and importing branded beer, wine, and spirits and selling them to wholesale distributors, retailers, and state alcohol beverage control agencies.
What Constellation Brands does
Constellation Brands is a Rochester, New York-based alcoholic beverage company founded in 1945. It produces, imports, markets, and sells beer, wine, and spirits across the United States, Canada, Mexico, New Zealand, and Italy. Beer is at the center of its portfolio, with Mexican brands including Corona (Extra, Familiar, Light, Premier, Sunbrew, Non-Alcoholic), Modelo (Especial, Negra, Oro, Chelada, Spiked Aguas Frescas), Pacifico, and Victoria. Its wine brands include Kim Crawford, Robert Mondavi Winery, The Prisoner Wine Company, Ruffino, Sea Smoke, and Schrader Cellars. Its spirits brands include High West, Casa Noble, Mi CAMPO, and Nelson's Green Brier. The company sells to wholesale distributors, retailers, and state alcohol beverage control agencies.
Products & services
- Corona Extra
- Modelo Especial
- Pacifico
- Kim Crawford wine
- Robert Mondavi Winery
- High West whiskey
What is Constellation Brands worth?
On an owner-earnings DCF, Constellation Brands's most-likely value is about $194 versus a recent price near $123 (58% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$115) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
⚠ High leverage — net debt is 5.3× annual cash flow. Net debt is subtracted from this fair value, but refinancing at higher rates, principal timing, and share dilution aren’t modeled — the equity can be worth far less if cash flow weakens.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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