Brown–Forman
BF-B · Distillers & Vintners
$29.41
2.6%Constellation Brands
STZ · Distillers & Vintners
$138.68
0.2%The short version
- Constellation Brands is the larger business, with $9.1B of revenue in fiscal 2026 against $3.9B for Brown–Forman, about 2.3 times as much.
- Brown–Forman grew revenue faster (−1.2%, against −10.5%).
- Constellation Brands kept more of each dollar of sales as operating profit (29.8% operating margin, against 25.5% operating margin).
- Brown–Forman turned more of its sales into free cash flow (22.7% FCF margin, against 19.6% FCF margin).
- Brown–Forman earned a higher return on the capital invested in it (12.9%, against 10.7%).
| Latest fiscal year | BF-B · FY26 | STZ · FY26 |
|---|---|---|
| Size | ||
| Market cap | $13.5B | — |
| Revenue | $3.9B | $9.1B |
| Free cash flow | $893M | $1.8B |
| Net income | $715M | $1.7B |
| Growth | ||
| Revenue growth | −1.2% | −10.5% |
| 5-year growth | 2.6% | 1.2% |
| Share count change | −1.3% | — |
| Profitability | ||
| Gross margin | 60.5% | 51.6% |
| Operating margin | 25.5% | 29.8% |
| Net margin | 18.2% | 18.5% |
| FCF margin | 22.7% | 19.6% |
| Return on capital | 12.9% | 10.7% |
| Return on equity | 17.9% | 22.5% |
| Balance sheet | ||
| Net debt | $2.2B | $10.5B |
| Net debt / EBITDA | 2.0x | 3.3x |
| Dividends and buybacks | $827M | $1.6B |
| Valuation & quality | ||
| P/E | 19.0x | — |
| Piotroski F-score | 6 | — |
FY17
BF-B $3.0B
STZ $7.3B
FY18
BF-B $3.2B
STZ $7.6B
FY19
BF-B $3.3B
STZ $8.1B
FY20
BF-B $3.4B
STZ $8.3B
FY21
BF-B $3.5B
STZ $8.6B
FY22
BF-B $3.9B
STZ $8.8B
FY23
BF-B $4.2B
STZ $9.5B
FY24
BF-B $4.2B
STZ $10.0B
FY25
BF-B $4.0B
STZ $10.2B
FY26
BF-B $3.9B
STZ $9.1B
BF-B
STZ
FY17
BF-B 33.7%
STZ 32.6%
FY18
BF-B 32.3%
STZ 30.1%
FY19
BF-B 34.4%
STZ 29.7%
FY20
BF-B 32.4%
STZ 25.8%
FY21
BF-B 33.7%
STZ 32.4%
FY22
BF-B 30.6%
STZ 26.4%
FY23
BF-B 26.7%
STZ 30.1%
FY24
BF-B 33.8%
STZ 31.8%
FY25
BF-B 27.9%
STZ 3.5%
FY26
BF-B 25.5%
STZ 29.8%
BF-B
STZ
FY17
BF-B $544M
STZ $789M
FY18
BF-B $526M
STZ $874M
FY19
BF-B $681M
STZ $1.4B
FY20
BF-B $611M
STZ $1.8B
FY21
BF-B $755M
STZ $1.9B
FY22
BF-B $798M
STZ $1.7B
FY23
BF-B $457M
STZ $1.7B
FY24
BF-B $419M
STZ $1.5B
FY25
BF-B $431M
STZ $1.9B
FY26
BF-B $893M
STZ $1.8B
BF-B
STZ
FY17
BF-B 23.6%
STZ 11.7%
FY18
BF-B 22.1%
STZ 13.3%
FY19
BF-B 24.7%
STZ 9.1%
FY20
BF-B 23.3%
STZ 6.7%
FY21
BF-B 24.5%
STZ 9.2%
FY22
BF-B 22.1%
STZ 5.1%
FY23
BF-B 17.5%
STZ 6.6%
FY24
BF-B 18.6%
STZ 11.7%
FY25
BF-B 14.3%
STZ 1.4%
FY26
BF-B 12.9%
STZ 10.7%
BF-B
STZ
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.