STZConstellation Brands

Consumer staples · Beverages · NYSE

Employees: 9,400
Headquarters: Rochester, NY
CEO: Nicholas I. Fink
Next results: around Jan 6, 2027

RevenueFY2016–26 $9.1B−10.5% FY2025: $10.2B 10-K FY2026 · XBRL Net incomeFY2016–26 $1.7B FY2025: −$81.4M 10-K FY2026 · XBRL Free cash flowFY2016–26 $1.8B−7.4% FY2025: $1.9B 10-K FY2026 · XBRL Operating marginFY2016–26 29.8%+26.3 pts 32.6% in FY2016 10-K FY2026 · XBRL

What changed

10-K filed Apr 22, 2026 against Apr 23, 2025

Area	What changed	Source
Risk factors	7 new paragraphs, nothing like them in the previous 10-K	10-K Item 1A
Going concern language	“Our conclusion was based on several contributing factors, including: (i) the fair value being less than the carrying value and the uncertainty surrounding Canopy’s stock price recovering in the near-term, (ii) Canopy recorded significant costs in its fourth quarter of fiscal 2023 results designed to align its Canadian cannabis operations and resources in response to continued unfavorable market tr”	10-K · XBRL
Accounting checks	10 other checks clear, 1 worth a look	10-K · XBRL
Insiders	No open-market buys in the last 90 days	Form 4
Filings	0 in the last 30 days	EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

What's new, in their words

10-K filed Apr 22, 2026

Paragraphs in Risk Factors that were not in the 10-K filed 2025-04-23. Quoted as filed.

Nicholas Fink became our President and Chief Executive Officer on April 13, 2026. Our future performance will depend, in part, on the successful transition of Mr. Fink as our new President and Chief Executive Officer. Leadership transitions and the onboarding process can be inherently difficult to manage, will take time, and could…
10-K, Item 1A

All 7 new paragraphs →

Accounting checks

latest 10-K

10 of 11 clear 1 worth a look. Checks, not verdicts.

!
Going concern language“Our conclusion was based on several contributing factors, including: (i) the fair value being less than the carrying value and the uncertainty surrounding Canopy’s stock price recovering in the near-term, (ii) Canopy recorded significant costs in its fourth quarter of fiscal 2023 results designed to align its Canadian cannabis operations and resources in response to continued unfavorable market tr”
✓
Receivables -10.6% vs revenue -10.5% (-0.2 pts)
✓
Cash from operations $2.7B vs net income $1.7B (FY ending 2026-02-28)
✓
Inventory -0.2% vs revenue -10.5% (+10.2 pts)
✓
Same auditor in both 10-Ks: KPMG LLP
✓
No 8-K item 4.02 in the last 2 years
✓
No NT 10-K or NT 10-Q in the last 2 years
✓
No longer listed: Fair value of the Wine and Spirits reporting unit. Same as last year: Unrecognized tax benefits; PART II ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA Table of Contents
✓
No sentence in the 10-K concludes that controls were not effective because of a material weakness
✓
No 8-K item 2.06 in the last 2 years
✓
No 8-K item 1.03 in the last 2 years

How each check works, with sources →

In the last 30 days

All filings →

Nothing new. The most recent filings:

Oct 7, 202610-Q Quarterly report (10-Q) period ended Aug 31, 2026
Oct 6, 20268-K Quarterly results, Regulation FD disclosure 8-K items 2.02, 7.01
Sep 18, 20268-K Material agreement signed, New debt or obligation 8-K items 1.01, 2.03
Sep 8, 20268-K Regulation FD disclosure 8-K item 7.01

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