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Constellation Brands Inc. (NYSE:STZ)

This company has been moved to the archive! The financial data has not been updated since January 5, 2023.

Common-Size Balance Sheet: Assets

Constellation Brands Inc., common-size consolidated balance sheet: assets

Microsoft Excel
Feb 28, 2022 Feb 28, 2021 Feb 29, 2020 Feb 28, 2019 Feb 28, 2018 Feb 28, 2017
Cash and cash equivalents 0.77 1.70 0.30 0.32 0.44 0.95
Accounts receivable 3.48 2.90 3.17 2.90 3.78 3.96
Inventories 6.08 4.76 5.03 7.29 10.15 10.51
Prepaid taxes 0.98 0.28 0.14 0.16 0.29 0.31
Value added taxes receivable 0.75 0.95 1.15 1.08 1.02 0.42
Derivative assets 0.36 0.18 0.21 0.08 0.00 0.00
Income taxes receivable 0.11 0.17 0.13 0.36 0.59 0.54
Other 0.35 0.29 0.33 0.42 0.65 0.67
Prepaid expenses and other 2.55% 1.87% 1.96% 2.10% 2.55% 1.94%
Assets held for sale, current 0.00 0.00 2.30 0.00 0.00 0.00
Current assets 12.88% 11.23% 12.75% 12.60% 16.91% 17.36%
Property, plant, and equipment 23.44 21.48 19.52 18.02 23.32 21.14
Goodwill 30.41 28.75 28.39 27.67 39.36 42.58
Intangible assets 10.66 10.08 9.95 10.94 16.09 18.16
Equity method investments 10.40 10.29 11.32 11.86 0.59 0.53
Securities measured at fair value 0.74 6.71 4.09 11.07 3.27 0.00
Deferred income taxes 9.09 9.20 9.72 7.47 0.00 0.01
Assets held for sale 0.00 0.00 2.02 0.00 0.00 0.00
Other assets 2.39 2.27 2.24 0.38 0.45 0.22
Noncurrent assets 87.12% 88.77% 87.25% 87.40% 83.09% 82.64%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

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 asset composition reflects a gradual increase in the weighting of noncurrent assets relative to total assets, rising from 82.64% in 2017 to 87.12% in 2022. This shift is mirrored by a corresponding decline in current assets, which decreased from 17.36% to 12.88% over the six-year period.

Current Asset Trends
A notable reduction in the relative weight of inventories is observed, falling from 10.51% of total assets in 2017 to a low of 4.76% in 2021, before recovering to 6.08% in 2022. Cash and cash equivalents remained consistently low throughout the period, generally staying below 1% of total assets, with a temporary peak of 1.70% in 2021. Accounts receivable demonstrated relative stability, fluctuating within a narrow range between 2.90% and 3.96%.
Intangible Asset and Goodwill Adjustments
A significant contraction occurred in the proportion of goodwill and intangible assets. Goodwill decreased from 42.58% in 2017 to 30.41% by 2022. Similarly, intangible assets fell from 18.16% to 10.66%. These declines indicate a reduction in the relative impact of acquired intangibles on the total asset base over time.
Noncurrent Investment and Tax Shifts
Equity method investments saw a sharp increase beginning in 2019, rising from 0.59% in 2018 to 11.86% in 2019, and stabilizing at 10.40% by 2022. Deferred income taxes also became a more prominent component of the balance sheet, increasing from 0.01% in 2017 to 9.09% in 2022. Securities measured at fair value exhibited high volatility, peaking at 11.07% in 2019 before dropping to 0.74% by 2022.
Fixed Asset Profile
Property, plant, and equipment maintained a strong and slightly growing presence, increasing from 21.14% in 2017 to 23.44% in 2022. This suggests a steady allocation of capital toward physical infrastructure relative to the total asset base.

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