Constellation Brands
Constellation Brands returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2027 Q2 | Aug 31, 2026 | 12.06% | 14.71% | 73.2% | 23.92% | 8.85% | 4.4 pp |
| FY 2027 Q1 | May 31, 2026 | 11.32% | 15.28% | — | 23.51% | 8.22% | 3.6 pp |
| FY 2026 Q4 | Feb 28, 2026 | 10.75% | 14.78% | — | 22.54% | 7.75% | 3 pp |
| FY 2026 Q3 | Nov 30, 2025 | 7.71% | 10.91% | — | 14.29% | 4.99% | 0 pp |
| FY 2026 Q2 | Aug 31, 2025 | 8.64% | 11.46% | — | 15.91% | 5.5% | 0.9 pp |
| FY 2026 Q1 | May 31, 2025 | — | 0.61% | — | -5.05% | -1.83% | — |
| FY 2025 Q4 | Feb 28, 2025 | — | 1.77% | — | -0.98% | -0.34% | — |
| FY 2025 Q3 | Nov 30, 2024 | 5.47% | 5.51% | — | 7.94% | 2.87% | -2.2 pp |
| FY 2025 Q2 | Aug 31, 2024 | 4.83% | 5.39% | — | 6.71% | 2.41% | -2.9 pp |
| FY 2025 Q1 | May 31, 2024 | 13.32% | 15.04% | — | 26.21% | 9.71% | 5.6 pp |
| FY 2024 Q4 | Feb 29, 2024 | 11.75% | 14.33% | — | 19.03% | 6.86% | 4.1 pp |
| FY 2024 Q3 | Nov 30, 2023 | 11.39% | 13.85% | 237.45% | 17.45% | 6.29% | 3.7 pp |
| FY 2024 Q2 | Aug 31, 2023 | 11.21% | 13.49% | 185.28% | 16.15% | 6.16% | 3.5 pp |
| FY 2024 Q1 | May 31, 2023 | — | 12.39% | — | -3.28% | -1.28% | — |
| FY 2023 Q4 | Feb 28, 2023 | — | 12.68% | — | -0.7% | -0.28% | — |
| FY 2023 Q3 | Nov 30, 2022 | 3.33% | 13.57% | — | 1.03% | 0.41% | -4.4 pp |
| FY 2023 Q2 | Aug 31, 2022 | 3.61% | 14.01% | — | 1.02% | 0.42% | -4.1 pp |
| FY 2023 Q1 | May 31, 2022 | 10.16% | 12.91% | — | 10.7% | 4.83% | 2.5 pp |
| FY 2022 Q4 | Feb 28, 2022 | 0.03% | 9.52% | — | -0.32% | -0.15% | -7.7 pp |
| FY 2022 Q3 | Nov 30, 2021 | — | 9.06% | — | -0.43% | -0.2% | — |
| FY 2022 Q2 | Aug 31, 2021 | 6.39% | 9.04% | — | 6.62% | 2.92% | -1.3 pp |
| FY 2022 Q1 | May 31, 2021 | 7.58% | 9.3% | — | 10.87% | 4.84% | -0.1 pp |
| FY 2021 Q4 | Feb 28, 2021 | 9.2% | 10.98% | — | 15.53% | 7.34% | 1.5 pp |
| FY 2021 Q3 | Nov 30, 2020 | 9.17% | 11.06% | — | 16.09% | 7.36% | 1.5 pp |
| FY 2021 Q2 | Aug 31, 2020 | — | 9.06% | — | 9.48% | 4.05% | — |
| FY 2021 Q1 | May 31, 2020 | — | 8.5% | — | 0.48% | 0.2% | — |
| FY 2020 Q4 | Feb 29, 2020 | — | 8.44% | — | -0.1% | -0.04% | — |
| FY 2020 Q3 | Nov 30, 2019 | — | 8.44% | — | 7.22% | 3.02% | — |
| FY 2020 Q2 | Aug 31, 2019 | — | 10% | — | 6.82% | 2.99% | — |
| FY 2020 Q1 | May 31, 2019 | 9.15% | 10.23% | -2.77% | 21.53% | 9.4% | 1.4 pp |
| FY 2019 Q4 | Feb 28, 2019 | 9.04% | 10.8% | -3.17% | 33.36% | 13.81% | 1.3 pp |
| FY 2019 Q3 | Nov 30, 2018 | 11.45% | 11.7% | 6.15% | 32.43% | 13.01% | 3.7 pp |
| FY 2019 Q2 | Aug 31, 2018 | 12.21% | 12.19% | 4.84% | 34.48% | 15.21% | 4.5 pp |
| FY 2019 Q1 | May 31, 2018 | 12.61% | 12.36% | 7.88% | 29.64% | 12.65% | 4.9 pp |
| FY 2018 Q4 | Feb 28, 2018 | 13.33% | 13.24% | 22.98% | 31.05% | 11.85% | 5.6 pp |
| FY 2018 Q3 | Nov 30, 2017 | 12% | 14.86% | 18.99% | 24.59% | 9.6% | 4.3 pp |
| FY 2018 Q2 | Aug 31, 2017 | 13.05% | 15.33% | 60.36% | 23.3% | 9.48% | 5.4 pp |
| FY 2018 Q1 | May 31, 2017 | 12.22% | 15.23% | 165.97% | 22.75% | 8.85% | 4.5 pp |
| FY 2017 Q4 | Feb 28, 2017 | 11.67% | 15.68% | 31.08% | 22.83% | 8.63% | 4 pp |
| FY 2017 Q3 | Nov 30, 2016 | 10.73% | 14.1% | 18.86% | 19.64% | 7.7% | 3 pp |
| FY 2017 Q2 | Aug 31, 2016 | 9.85% | 13.49% | 11.2% | 17.99% | 7.13% | 2.1 pp |
| FY 2017 Q1 | May 31, 2016 | 9.42% | 13.01% | 12.21% | 17.74% | 6.9% | 1.7 pp |
| FY 2016 Q4 | Feb 29, 2016 | 9.12% | 12.3% | 15.11% | 17.11% | 6.57% | 1.4 pp |
| FY 2016 Q3 | Nov 30, 2015 | 9.37% | 12.21% | 32.39% | 16.92% | 6.59% | 1.7 pp |
| FY 2016 Q2 | Aug 31, 2015 | 9.37% | 12.01% | 21.64% | 16.93% | 6.45% | 1.7 pp |
| FY 2016 Q1 | May 31, 2015 | 8.72% | 11.49% | -101.98% | 15.52% | 5.79% | 1 pp |
| FY 2015 Q4 | Feb 28, 2015 | 8.53% | 11.41% | -91.67% | 15.61% | 5.7% | 0.8 pp |
| FY 2015 Q3 | Nov 30, 2014 | 8.23% | 11.22% | -92.17% | 15% | 5.33% | 0.5 pp |
| FY 2015 Q2 | Aug 31, 2014 | 8.43% | 11.67% | -95.67% | 15.42% | 5.36% | 0.7 pp |
| FY 2015 Q1 | May 31, 2014 | 24.96% | 25.98% | 43.52% | 50.62% | 17.26% | 17.3 pp |
| FY 2014 Q4 | Feb 28, 2014 | 24.28% | 25.34% | 29.08% | 49.56% | 17.71% | 16.6 pp |
| FY 2014 Q3 | Nov 30, 2013 | 22.13% | 22.23% | 31.59% | 49.37% | 16.48% | 14.4 pp |
| FY 2014 Q2 | Aug 31, 2013 | 20.88% | 20.62% | 29.58% | 49.55% | 15.94% | 13.2 pp |
| FY 2014 Q1 | May 31, 2013 | 5.79% | 6.46% | -2.47% | 13.92% | 4.48% | -1.9 pp |
| FY 2013 Q4 | Feb 28, 2013 | 7.03% | 8.13% | -2.59% | 14.01% | 5.26% | -0.7 pp |
| FY 2013 Q3 | Nov 30, 2012 | 6.67% | 6.99% | — | 15.11% | 5.26% | -1 pp |
| FY 2013 Q2 | Aug 31, 2012 | 6.41% | 6.99% | — | 15.21% | 5.37% | -1.3 pp |
| FY 2013 Q1 | May 31, 2012 | 7.49% | 7.72% | — | 17.65% | 6.28% | -0.2 pp |
| FY 2012 Q4 | Feb 29, 2012 | 7.35% | 7.84% | — | 17.02% | 6.23% | -0.4 pp |
| FY 2012 Q3 | Nov 30, 2011 | — | 7.98% | — | 23.21% | 8.03% | — |
| FY 2012 Q2 | Aug 31, 2011 | — | 8.2% | — | 25.59% | 8.8% | — |
| FY 2012 Q1 | May 31, 2011 | — | — | — | — | — | — |
| FY 2011 Q4 | Feb 28, 2011 | — | — | — | — | — | — |
| FY 2011 Q3 | Nov 30, 2010 | — | — | — | — | — | — |
| FY 2011 Q2 | Aug 31, 2010 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · STZ, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.