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Held by 263 of 2,417 reporting institutions (96th percentile) — extremely crowded.
Data as of Q3 2026
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What the company returns to shareholders — and whether it's covered by cash.
The dividend is comfortably covered — only 40% of free cash flow, leaving room to grow it and fund buybacks. Last year: $715.7M dividends + $924.1M buybacks = $1.64B returned on $1.79B FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A balanced mix of reinvestment and shareholder returns.
Modest payoff on reinvested capital. Current ROIC on all capital: 9%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $102.4M is below the $1.80B due within a year — relies on refinancing or operating cash flow. Scheduled principal only (excludes interest & revolver draws). As of 2026-08-31 (10-Q). The cash figure is from 2026-02-28, so the two are not the same balance-sheet date — the schedule has not been refiled since.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Effective rate ~3.6% on $9.96B of debt.
Cash of $102.4M is below short-term debt of $272.0M — relies on refinancing/operations.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 3 positive fiscal years (FY2024, FY2025, FY2026). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $135.33 today, the market must believe free cash flow compounds -0.4%/yr for a decade (off $1.75B on the 3-yr avg basis).
On the basis ($1.68B) the requirement is 0.1%/yr. Shares issued to employees are added back in operating cash flow, so this basis treats them as free.
The market's -0.4% is more conservative than its 8-yr track record.
Default is 6.8% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.17B shares (market data) · net debt $9.86B
mean 11.7% · volatility σ 25% · implied rate exceeded in 5/8 yrs
Central path = implied -0.4%/yr growth; shaded band = ±1σ (25%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Ranked against 13 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-09-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| KO | $404.7B | 30.9× | 29.6× | 8.4× | 1.9% | 61.6% | 27.3% | 40.7% | 17.2% | 2.3× | 1,417 |
| PEP | $187.2B | 22.9× | 15.2× | 2.0× | 2.3% | 54.1% | 8.8% | 40.4% | 11.8% | 2.7× | 1,218 |
| MNST | $92.7B | — | 35.8× | 11.2× | 10.7% | 55.8% | 23.0% | 23.1% | 23.1% | -0.8× | 375 |
| KDP | $48.8B | 23.4× | 15.8× | 2.9× | 8.2% | 54.2% | 12.5% | 8.1% | 5.0% | 3.8× | 226 |
| STZ | $22.9B | — | 10.4× | 2.5× | -10.5% | 51.6% | 18.5% | 20.9% | 9.3% | 3.1× | 263 |
| COKE | $14.0B | — | 14.4× | 1.9× | 4.8% | 39.7% | 7.9% | -77.1% | 27.9% | 2.2× | 151 |
| TAP | $7.5B | — | — | 0.6× | -5.1% | 32.8% | -16.4% | -20.9% | -12.9% | — | 145 |
| CELH | $7.4B | 116.5× | 44.8× | 2.9× | 85.5% | 50.4% | 4.3% | 9.1% | 5.8% | 1.6× | 108 |
| PRMB | $7.1B | 123.4× | 11.5× | 1.1× | 29.3% | 30.3% | 0.9% | 2.0% | 0.7% | 4.6× | 63 |
| COCO | $3.3B | 49.1× | 37.6× | 5.5× | 18.2% | 36.5% | 11.7% | 21.5% | 21.5% | -2.4× | 70 |
| FIZZ | $3.3B | 18.0× | 11.7× | 2.8× | -1.7% | 37.0% | 15.6% | 28.9% | 28.9% | -1.4× | 40 |
| SAM | $2.0B | 20.4× | 7.7× | 1.0× | -2.4% | 48.5% | 5.5% | 12.8% | 12.8% | -0.9× | 72 |
| MALG | $914M | 55.6× | 36.6× | 24.4× | — | 72.1% | 49.9% | 66.1% | 66.1% | -0.1× | — |
| BRCC | $315M | — | — | 0.8× | 1.7% | 34.6% | -3.0% | -26.1% | -14.8% | — | 3 |
Peers = companies sharing STZ's sector (Beverages) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
EOD close · as of 2026-10-30
How a revenue dollar becomes profit — FY2026
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.14B 100.0% | $10.21B 100.0% | $9.96B 100.0% | $9.45B 100.0% | $8.82B 100.0% | $8.61B 100.0% | $8.34B 100.0% | $8.12B 100.0% | $7.58B 100.0% | $7.32B 100.0% |
| Cost of Revenue | $4.43B 48.4% | $4.89B 47.9% | $4.94B 49.6% | $4.68B 49.5% | $4.11B 46.6% | $4.15B 48.2% | $4.19B 50.2% | $4.04B 49.7% | $3.77B 49.7% | $3.80B 51.9% |
| Cost of Products | — | — | — | — | — | — | — | — | $3.77B 49.7% | $3.80B 51.9% |
| Gross Profit | $4.71B 51.6% | $5.31B 52.1% | $5.02B 50.4% | $4.77B 50.5% | $4.71B 53.4% | $4.47B 51.8% | $4.15B 49.8% | $4.08B 50.3% | $3.81B 50.3% | $3.52B 48.1% |
| Selling, General & Admin | $1.85B 20.2% | $1.95B 19.1% | $1.83B 18.4% | $1.93B 20.4% | $1.71B 19.4% | $1.67B 19.4% | $1.62B 19.4% | $1.67B 20.6% | $1.53B 20.2% | $1.39B 19.0% |
| Operating Income | $2.72B 29.8% | $354.9M 3.5% | $3.17B 31.8% | $2.84B 30.1% | $2.33B 26.4% | $2.79B 32.4% | $2.15B 25.8% | $2.41B 29.7% | $2.28B 30.1% | $2.39B 32.6% |
| Interest Expense | $361.6M 4.0% | $418.4M 4.1% | $443.6M 4.5% | -$415.9M -4.4% | — | — | — | $379.1M 4.7% | $334.3M 4.4% | $335.1M 4.6% |
| Interest & Investment Income | — | — | — | — | — | — | — | $12.0M 0.1% | $2.3M 0.0% | $1.8M 0.0% |
| Pretax Income | $2.38B 26.0% | -$82.8M -0.8% | $2.22B 22.3% | $383.6M 4.1% | $310.4M 3.5% | $2.54B 29.5% | -$945.2M -11.3% | $4.14B 51.1% | $2.34B 30.8% | $2.08B 28.5% |
| Income Tax Expense | $621.0M 6.8% | -$51.7M -0.5% | $456.6M 4.6% | $422.1M 4.5% | $309.4M 3.5% | $511.1M 5.9% | -$966.6M -11.6% | $685.9M 8.5% | $22.7M 0.3% | $550.3M 7.5% |
| Net Income | $1.69B 18.5% | -$81.4M -0.8% | $1.73B 17.3% | -$71.0M -0.8% | -$40.4M -0.5% | $2.00B 23.2% | -$11.8M -0.1% | $3.44B 42.3% | $2.30B 30.4% | $1.53B 20.9% |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Last reported position per insider, carried forward. Steps can be a holding disclosed for the first time rather than a trade.
| Date | Insider | What it was | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-07-22 | Madero Garza Jose Manuel Director | Grant | 1,400 | $0.00 | — |
| 2026-07-22 | Baldwin Christopher J Director | Grant | 1,400 | $0.00 | — |
| 2026-07-22 | Flatley Edith Morgan Director | Grant | 1,400 | $0.00 | — |
| 2026-07-22 | Sands Richard Director | Grant | 1,400 | $0.00 | — |
| 2026-07-22 | Daniels Jennifer |
Every row is classified by what it MEANT, not by its SEC code. A code is not a meaning: code P (“purchase”) also covers dividend reinvestment and employee stock purchase plans, and code S (“sale”) also covers 10b5-1 plan sales scheduled months earlier and option exercises sold the same day.
Across 30 days of all filings, $5.08bn of insider selling contained $3.50bn of plan sales and $0.46bn of exercise-and-sell. Only 29% was discretionary. Reading an unclassified feed badly overstates how much insiders decided.
Buys and sales are counted separately and never netted. They are different decisions by different people; a company where one officer bought while another sold is not “neutral”.
The holding line carries each insider's last reported position forward, so it shows the total held rather than a sawtooth of whoever traded that day. It covers only insiders who filed in the window.
“Filed late” counts calendar days past the two-business-day deadline with five days' grace, so a Thursday or Friday trade crossing a weekend is never flagged. It describes the company's filing discipline, not the trade.
Insider activity is descriptive. Nothing here is investment advice.
| Grant |
| 1,400 |
| $0.00 |
| — |
| 2026-07-22 | Zaramella Luca Director | Grant | 1,400 | $0.00 | — |
| 2026-07-22 | Giles William T Director | Grant | 1,400 | $0.00 | — |
| 2026-07-22 | Hernandez Ernesto M Director | Grant | 1,400 | $0.00 | — |
| 2026-07-22 | Mccarthy Daniel J Director | Grant | 1,400 | $0.00 | — |
| 2026-07-22 | Clark Christy Director | Grant | 1,400 | $0.00 | — |
| 2026-07-22 | Sands Robert Director | Grant | 1,400 | $0.00 | — |
| 2026-07-10 | 2 co-filers President & CEO | Option exercise | 1,114 | $0.00 | $0 |
| 2026-07-10 | 2 co-filers Group filing | Option exercise | 1,114 | $0.00 | $0 |
| 2026-07-10 | 2 co-filers Group filing | Option exercise | 1,114 | $0.00 | $0 |
| 2026-07-10 | 2 co-filers Group filing | Option exercise | 1,114 | $0.00 | $0 |
| 2026-07-10 | 2 co-filers Group filing | Option exercise | 1,114 | $0.00 | $0 |
| 2026-07-10 | 2 co-filers Group filing | Option exercise | 1,114 | $0.00 | $0 |
| 2026-07-10 | 2 co-filers Group filing | Option exercise | 187 | $0.00 | $0 |
| 2026-07-10 | 3 co-filers Group filing | Option exercise | 1,114 | $0.00 | $0 |
| 2026-07-10 | 2 co-filers Group filing | Option exercise | 1,114 | $0.00 | $0 |
| 2026-07-10 | 2 co-filers Group filing | Option exercise | 1,114 | $0.00 | $0 |
| 2026-07-10 | 2 co-filers Group filing | Option exercise | 1,114 | $0.00 | $0 |
| 2026-07-10 | 3 co-filers Group filing | Option exercise | 1,114 | $0.00 | $0 |
| 2026-07-10 | 2 co-filers Group filing | Option exercise | 1,114 | $0.00 | — |
| 2026-07-10 | 2 co-filers Group filing | Option exercise | 187 | $0.00 | — |
| 2026-07-10 | 3 co-filers Group filing | Tax withholding | 311 | $134.06 | $42k |
| 2026-07-10 | 2 co-filers Group filing | Option exercise | 1,114 | $0.00 | — |
| 2026-07-10 | 3 co-filers Group filing | Tax withholding | 15 | $134.06 | $2k |
| 2026-07-10 | 2 co-filers President & CEO | Option exercise | 1,114 | $0.00 | — |
| 2026-07-10 | 2 co-filers Group filing | Option exercise | 1,114 | $0.00 | — |
| 2026-07-10 | 2 co-filers Group filing | Option exercise | 1,114 | $0.00 | — |
| 2026-07-10 | 2 co-filers Group filing | Option exercise | 1,114 | $0.00 | — |
| 2026-07-10 | 2 co-filers Group filing | Option exercise | 1,114 | $0.00 | — |
| 2026-07-10 | 2 co-filers Group filing | Option exercise | 1,114 | $0.00 | — |
| 2026-07-10 | 2 co-filers Group filing | Option exercise | 1,114 | $0.00 | — |
| 2026-07-10 | 3 co-filers Group filing | Option exercise | 1,114 | $0.00 | — |
| 2026-07-10 | 3 co-filers Group filing | Option exercise | 1,114 | $0.00 | — |
| 2026-05-20 | Flatley Edith Morgan Director | Grant | 187 | $0.00 | — |
| 2026-05-12 | Bourdeau James O. EVP and Senior Advisor | Open-market sale | 4,407 | $143.24 | $631k |
| 2026-05-01 | 8 co-filers EVP & Pres. Beer | Option exercise | 1,375 | $0.00 | $0 |
EOD close · as of 2026-10-30
Is the profit real, and how strong is the balance sheet?
FY2026 · every deduction from revenue to net income
DuPont — the three levers
ROE 21% against ROIC 9% — 12% of the return on equity comes from leverage and buybacks rather than from the operating business.
Equity is the year-end figure. On average equity over the two year-ends, ROE is 22.5% — the two diverge when buybacks or issuance move equity during the year.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 49.7 | 50.2 | 48.2 | 46.6 | 49.5 | 49.6 | 47.9 | 48.4 |
| Gross Profit | 50.3 | 49.8 | 51.8 | 53.4 | 50.5 | 50.4 | 52.1 | 51.6 |
| SG&A | 20.6 | 19.4 | 19.4 | 19.4 | 20.4 | 18.4 | 19.1 | 20.2 |
| Operating Income | 29.7 | 25.8 | 32.4 | 26.4 | 30.1 | 31.8 | 3.5 | 29.8 |
| Income Tax | 8.5 | -11.6 | 5.9 | 3.5 | 4.5 | 4.6 | -0.5 | 6.8 |
| Net Income | 42.3 | -0.1 | 23.2 | -0.5 | -0.8 | 17.3 | -0.8 | 18.5 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on STZ: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Earns 3.75pts above its cost of capital, without much margin of safety.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2020 | 6.3% | 6.8% (today's — no rate published for this year) | -0.6pts |
| FY2021 | 8.0% | 6.8% (today's — no rate published for this year) | 1.2pts |
| FY2022 | 7.4% | 6.8% (today's — no rate published for this year) | 0.6pts |
| FY2023 | 9.3% | 4.9% | 4.4pts |
| FY2024 | 10.4% | 7.0% | 3.4pts |
| FY2025 | 1.4% | 8.2% | -6.8pts |
| FY2026 | 10.2% | 6.0% | 4.2pts |
| Now | 9.3% | 6.8% | 2.5pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2017 | 48.1% | 32.6% | 20.9% |
| FY2018 | 50.3% | 30.1% | 30.4% |
| FY2019 | 50.3% | 29.7% | 42.3% |
| FY2020 | 49.8% | 25.8% | -0.1% |
| FY2021 | 51.8% | 32.4% | 23.2% |
| FY2022 | 53.4% | 26.4% | -0.5% |
| FY2023 | 50.5% | 30.1% | -0.8% |
| FY2024 | 50.4% | 31.8% | 17.3% |
| FY2025 | 52.1% | 3.5% | -0.8% |
| FY2026 | 51.6% | 29.8% | 18.5% |
Leverage and buybacks account for 12 points of the 21% return on equity in FY2026. The business earns 9% on the capital it employs; the rest is balance sheet.
ROE is on average equity; ROIC is NOPAT over average invested capital (debt plus equity less excess cash). The gap is not a single adjustment.
$5.3B of goodwill — 29% of invested capital. The gap is what was paid above the fair value of what was bought; it is real capital shareholders provided, so neither bar is the whole answer.
ROIC ex-goodwill is 14.94% against 10.57% reported — the return is earned on a capital base inflated by what was paid for acquisitions, not by the operating business alone.
Converts 0.97x of reported profit into free cash flow over 3 years, with accruals negative.
Only 3 profitable years available, so the average is shorter than the five the threshold assumes.
Covers interest 5.3x even after a 30% EBITDA decline.
| EBITDA decline | Interest coverage |
|---|---|
| 0% | 7.53x |
| 5% | 7.15x |
| 10% | 6.77x |
| 15% | 6.40x |
| 20% | 6.02x |
| 25% | 5.64x |
| 30% | 5.27x |
| 35% | 4.89x |
| 40% | 4.52x |
| 45% | 4.14x |
| 50% | 3.76x |
| 55% | 3.39x |
| 60% | 3.01x |
Ladder as of 2026-08-31 (10-Q); cash from the 2026-02-28 balance sheet; FCF from FY2026.
Balance sheet at 2026-02-28. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
Net debt is 3.3x EBITDA, so coverage today depends on earnings holding up rather than on the balance sheet.
At $135.33, free cash flow must compound -0.15%/yr for 10 years. It has done -0.28%/yr over 6 years.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2021 | 6.4% | −0.1% |
| FY2022 | −13.6% | −0.1% |
| FY2023 | 2.6% | −0.1% |
| FY2024 | −12.2% | −0.1% |
| FY2025 | 28.3% | −0.1% |
| FY2026 | −7.4% | −0.1% |
The implied rate has been matched or beaten in 3 of the last 6 years.
| Step | Amount | Running total |
|---|---|---|
| Net income | $1.69B | $1.69B |
| Share-based comp | $68M | $1.75B |
| Other non-cash & working capital | $915M | $2.67B |
| Operating cash flow | $2.67B | $2.67B |
| Capex | −$875M | $1.79B |
| Free cash flow | $1.79B | $1.79B |
| FCF after SBC | $1.73B | $1.73B |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2021 | 3.3% | not reported | not reported |
| FY2022 | 2.4% | not reported | not reported |
| FY2023 | 7.2% | not reported | not reported |
| FY2024 | 5.4% | not reported | not reported |
| FY2025 | 2.5% | not reported | not reported |
| FY2026 | -10.5% | not reported | not reported |
| Fiscal year | Accruals / assets |
|---|---|
| FY2020 | -9.4 percent |
| FY2021 | -3.0 percent |
| FY2022 | -10.6 percent |
| FY2023 | -11.5 percent |
| FY2024 | -4.1 percent |
| FY2025 | -14.9 percent |
| FY2026 | -4.5 percent |
Below the line, the asset base is being consumed faster than it is replaced.
Depreciation here includes amortisation of acquired intangibles — goodwill written down over time, customer lists, acquired technology. Capex does not replace those and is not meant to, so an acquisitive or asset-light company sits below 1.0 permanently and correctly. The signal is cleanest for capital-intensive businesses, where the two measure the same physical base. For that reason this informs the earnings-quality verdict but never caps it.
SBC is added back inside operating cash flow, so reported free cash flow treats shares issued to employees as free. Percent of revenue says how expensive the payroll is; percent of operating cash flow says how much of the cash exists only because the charge was added back. The buyback offset is buybacks over SBC — below 1.0 the repurchase does not cover the shares issued.
Figures are the latest fiscal year (FY2026) from the company's own filings, not a trailing-twelve-month window — Q2 reads fiscal years throughout so the cash-conversion ratios and these share one basis. A blank is a line the filer did not report; it is never read as zero.