Constellation Brands vs Molson Coors
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The short version
- Molson Coors is the larger business, with $11.1B of revenue in fiscal 2025 against $9.1B for Constellation Brands.
- Molson Coors grew revenue faster (−4.2%, against −10.5%).
- Constellation Brands kept more of each dollar of sales as operating profit (29.8% operating margin, against −21.0%).
- Constellation Brands turned more of its sales into free cash flow (19.6% FCF margin, against 9.6%).
- Constellation Brands earned a higher return on the capital invested in it (10.7%, against −10.7%).
| Latest fiscal year | STZ · FY26 | TAP · FY25 |
|---|---|---|
| Size | ||
| Market cap | — | $8.2B |
| Revenue | $9.1B | $11.1B |
| Free cash flow | $1.8B | $1.1B |
| Net income | $1.7B | −$2.1B |
| Growth | ||
| Revenue growth | −10.5% | −4.2% |
| 5-year growth | 1.2% | 2.9% |
| Share count change | — | −5.2% |
| Profitability | ||
| Gross margin | 51.6% | 38.4% |
| Operating margin | 29.8% | −21.0% |
| Net margin | 18.5% | −19.2% |
| FCF margin | 19.6% | 9.6% |
| Return on capital | 10.7% | −10.7% |
| Return on equity | 22.5% | −18.4% |
| Balance sheet | ||
| Net debt | $10.5B | $5.5B |
| Net debt / EBITDA | 3.3x | — |
| Dividends and buybacks | $1.6B | $1.0B |
| Valuation & quality | ||
| P/E | — | — |
| Piotroski F-score | — | 3 |
Revenue
FY17
STZ $7.3B
TAP $11.0B
FY18
STZ $7.6B
TAP $10.8B
FY19
STZ $8.1B
TAP $10.6B
FY20
STZ $8.3B
TAP $9.7B
FY21
STZ $8.6B
TAP $10.3B
FY22
STZ $8.8B
TAP $10.7B
FY23
STZ $9.5B
TAP $11.7B
FY24
STZ $10.0B
TAP $11.6B
FY25
STZ $10.2B
TAP $11.1B
FY26
STZ $9.1B
TAP —
STZ
TAP
Operating margin
FY17
STZ 32.6%
TAP 15.3%
FY18
STZ 30.1%
TAP 15.2%
FY19
STZ 29.7%
TAP 7.2%
FY20
STZ 25.8%
TAP −4.2%
FY21
STZ 32.4%
TAP 14.2%
FY22
STZ 26.4%
TAP 1.5%
FY23
STZ 30.1%
TAP 12.3%
FY24
STZ 31.8%
TAP 15.1%
FY25
STZ 3.5%
TAP −21.0%
FY26
STZ 29.8%
TAP —
STZ
TAP
Free cash flow
FY17
STZ $789M
TAP $1.3B
FY18
STZ $874M
TAP $1.7B
FY19
STZ $1.4B
TAP $1.3B
FY20
STZ $1.8B
TAP $1.1B
FY21
STZ $1.9B
TAP $1.1B
FY22
STZ $1.7B
TAP $841M
FY23
STZ $1.7B
TAP $1.4B
FY24
STZ $1.5B
TAP $1.2B
FY25
STZ $1.9B
TAP $1.1B
FY26
STZ $1.8B
TAP —
STZ
TAP
Return on capital
FY17
STZ 11.7%
TAP 7.2%
FY18
STZ 13.3%
TAP 5.8%
FY19
STZ 9.1%
TAP 1.7%
FY20
STZ 6.7%
TAP −1.5%
FY21
STZ 9.2%
TAP 5.9%
FY22
STZ 5.1%
TAP 0.6%
FY23
STZ 6.6%
TAP 5.8%
FY24
STZ 11.7%
TAP 7.2%
FY25
STZ 1.4%
TAP −10.7%
FY26
STZ 10.7%
TAP —
STZ
TAP
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.