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TickerSTZ
SectorBeverages - Wineries & Distilleries
Mkt cap$25.5B
EV / EBITDA11.4×
PostureHigh Velocity
Composite78/100
LensBuyer-side
SE-Cluster Research·Issuer Brief·Q2 2026CIK 16918

Constellation Brands, Inc.

STZHIGH VELOCITYFILING INTENSITY

Constellation Brands, Inc. reads as an High Velocity (composite 78/100); Platform Builder deploying $203M across 0 disclosed transactions, up 85% vs the prior cycle · primary market Consumer Products, ranked #4 on disclosed spend.

Lens

Disclosed M&A capital (2023–2025)

$203M

+85%

vs $110M in 2020–2022

Disclosed transactions

N/A

flat

3/3 active fiscal years in window

Buyer archetype

Platform Builder

Large and recent disclosed spend expands platforms or service-line scale.

Composite score

78

/100

High Velocity dominates · Filing Intensity

Financial snapshot
Revenue$9.1B
EBITDA$3.2B
Enterprise value$36.6B
EV / Revenue4.0×
EV / EBITDA11.4×
P/EN/A
Cash$102M
Total debt$272M
as of 2026-05-10
§ I·SE-Cluster Issuer Brief

Behavioral posture, nine reads.

Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.

Active Acquirer

54/100

Companies actively deploying disclosed capital into M&A

  • $12.7B disclosed buyer spend
  • Filed within 20d

Buyer Cadence

32/100

Buyer-side companies with recent filing activity

  • Filed within 20d
  • 521 8-Ks

Target Probability

24/100

Issuers showing target-side patterns from filings

  • 31 activism filings

Spin/Carve

0/100

Issuers showing spin-off, carve-out, or sum-of-parts posture

  • 31 activism filings

Pressure Watch

37/100

Issuers facing activism, governance, or control pressure

  • 31 activism filings
  • Latest activism 3y ago; discounted

Distress Watch

37/100

Issuers showing financial-distress filing patterns

  • 10-Q 138d stale
  • 31 activism filings

Restatement Risk

0/100

Issuers with accounting-integrity flags from filings

Capital Velocity

Dominant
78/100

Issuers with the highest filing-activity intensity

  • 521 8-Ks
  • Filed within 20d
  • 5 form types

Quiet Power

0/100

Large issuers with low signal volume and clean disclosure cadence

  • Enterprise value $36.6B
  • 10-Q 138d ago
  • 2 active signals
§ II·SE-Cluster Issuer Brief

Capital cadence.

Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.

16
17
18
19
20
21
22
23
24
25

Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $1,316M · Peak count: 2

FYDisclosed buysDisclosed spendAvg ticketAudited tier
2025N/A$159MN/AN/A
2024N/A$8MN/AN/A
2023N/A$37MN/AN/A
2022N/A$54MN/AN/A
2021N/A$20MN/AN/A
2020N/A$36MN/AN/A
§ III·SE-Cluster Issuer Brief

Strategy posture.

The buyer's playbook in terms of strategic archetype: what each disclosed move says about how they're deploying capital.

Archetype mix

  • Horizontal Consolidation
    25%
  • Geographic Expansion
    25%
  • Bolt On
    25%
  • Vertical Integration
    25%

Strategy keywords

Terms recurring across recent 10-K acquisition disclosures.

  • horizontal_consolidation
  • geographic_expansion
  • bolt_on
  • vertical_integration
§ IV·SE-Cluster Issuer Brief

Filing language.

Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.

We have reshaped our portfolio through a series of strategic acquisitions and divestitures to drive our enhanced (and following the anticipated completion of the 2025 Wine Divestitures Transaction, exclusive) focus on higher-end wine and spirits brands

10-KFY2025

To continue capitalizing on consumer-led premiumization trends, become more competitive, and grow our business, we have employed a strategy dedicated to organic growth and supplemented by targeted investments and acquisitions.

10-KFY2024

we have employed a strategy dedicated to organic growth and supplemented by targeted investments and acquisitions

10-KFY2025

consolidation of suppliers, wholesalers and retailers.

10-KFY2018

consolidation of suppliers, wholesalers and retailers;

10-KFY2015
§ V·SE-Cluster Issuer Brief

Market context.

Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.

Primary market

Consumer Products

Market spend (2023–2025)
$145.2B
Market spend (2020–2022)
$102.1B
Recent vs prior
+42%
Issuer rank in market
#4 of 325
Share of market capital
1.8%

Valuation positioning

11.4×EV / EBITDA

STZ trades at a -0.8-turn discount to the Consumer Products peer median of 12.2×.

EV / Revenue
4.0×
Net debt / EBITDA
0.1×
Peer median EV / EBITDA
12.2×

Trading comparables

FMP market data · 2026-05-10

CompanyEV / EBITDAEV / RevNet debt / EBITDARevenueM&A 2023–2025
15.7×2.3×2.0×$164.7B$24.6B
Constellation Brands, Inc.STZ
11.4×4.0×0.1×$9.1B$203M
8.7×1.3×-0.1×$10B$5.5B

Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in Consumer Products. Bars scaled to the highest EV/EBITDA in the set.

§ VI·SE-Cluster Issuer Brief

Target landscape.

Public-issuer targets that fit this buyer's archetype and target categories from filing-derived signal. Scores reflect cross-signal fit; reasons cite the EDGAR-anchored facts that drove the match.

No qualifying public-issuer targets surfaced from the current signal mix.

Stated target categories

No target categories enumerated in the audited corpus for this issuer.

§ VII·SE-Cluster Issuer Brief

Filing activity & signal stream.

Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.

Filing cadence

  • 10-K (annual)392026-04-22
  • 10-Q (quarterly)1002026-01-08
  • 8-K (event)5212026-05-06
  • Proxy / DEF 14A482025-06-05
  • Activism (13D / DFAN / PREC)312023-05-12

Signals on file

  • elevated

    Activism on file

    2023-05-12

    31 activist filings on file (13D, DFAN14A, PREC14A series).

  • info

    Signal

    Serial acquisition history

  • info

    Signal

    10-K strategy themes

§ VIII·SE-Cluster Issuer Brief

Audited corpus.

No audited record on file for this CIK in the current v6 corpus.

This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.

Constellation Brands, Inc.: Issuer Brief | SE-Cluster