Constellation Brands

Liquidity and cash generation are solid. TTM CFO is about 2.77B dollars and TTM capex about 0.92B, for TTM FCF of roughly 1.85B as of Aug 31, 2025. Total debt was about 10.55B with cash of ~72M at quarter‑end; the company remains in compliance with covenants that include a 4.0x max net leverage test.

Interest expense is manageable and the business can fund capex, dividends, and buybacks from internal cash in normal conditions. Leverage is not ultra‑low, but the stability of branded beer cash flows and investment‑grade profile support an above‑average score.