Analysis of Inventory
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Constellation Brands Inc. pages available for free this week:
- Income Statement
- Statement of Comprehensive Income
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Analysis of Geographic Areas
- Enterprise Value to EBITDA (EV/EBITDA)
- Current Ratio since 2005
- Analysis of Revenues
- Aggregate Accruals
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Inventory Disclosure
Constellation Brands Inc., balance sheet: inventory
US$ in thousands
| Feb 28, 2022 | Feb 28, 2021 | Feb 29, 2020 | Feb 28, 2019 | Feb 28, 2018 | Feb 28, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Raw materials and supplies | |||||||||||||
| In-process inventories | |||||||||||||
| Finished case goods | |||||||||||||
| Inventories |
Based on: 10-K (reporting date: 2022-02-28), 10-K (reporting date: 2021-02-28), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-02-28), 10-K (reporting date: 2018-02-28), 10-K (reporting date: 2017-02-28).
The analysis of the inventory-related financial data over the six-year period reveals several noteworthy trends and fluctuations.
- Raw materials and supplies
- The value of raw materials and supplies shows a generally increasing trend with some fluctuations. Starting at 149.7 million US dollars in early 2017, it rose steadily to 182.6 million by early 2019. There was a slight decrease in 2020 and 2021, down to 151.1 million US dollars, before a significant increase to 185.3 million US dollars in 2022, marking the highest point in the period measured.
- In-process inventories
- In-process inventories exhibit a distinct peak in the initial years, rising from 1.26 billion US dollars in 2017 to nearly 1.48 billion by 2019. However, there is a sharp decline commencing in 2020, with levels dropping dramatically to 814.7 million US dollars and continuing to 735.9 million in 2021. A partial recovery is observed in 2022 with an increase to 804.8 million US dollars, but levels remain significantly lower than earlier years.
- Finished case goods
- Finished case goods inventory values show a declining trend from 2017 through 2020, falling from 545.3 million to 387.2 million US dollars. This trend reverses in 2021 with a slight increase to 404.1 million, followed by a marked rise in 2022 reaching 583.1 million US dollars, the highest figure in the period, indicating a possible buildup of finished products.
- Total inventories
- Total inventory values follow a pattern heavily influenced by the movement in in-process inventories. The total inventory rose from 1.955 billion US dollars in 2017 to a peak of approximately 2.13 billion in 2019. Subsequently, there is a notable decrease to around 1.29 billion by 2021. In 2022, total inventories rise again to 1.57 billion US dollars but do not return to their pre-2020 peak.
Overall, the data shows that while raw materials and finished goods inventories experienced fluctuations, the most significant movement occurred within in-process inventories, which likely drove the overall inventory levels. The sharp decline beginning in 2020 possibly reflects changes in production or supply chain adjustments. The recovery in 2022 across all inventory categories suggests a realignment or scaling up of inventory holdings.