Constellation Brands management check
STZ · Consumer Staples · Distillers & Vintners · CEO Nicholas I. Fink (since the last proxy; previously William A. Newlands)
Filings as of
2 good · 3 to watch · 1 flagged, across the seven questions below.
- Flag
Have owners done well?
Trailed its chosen peers$100 invested at the start of fiscal 2022 grew to $80, against $167 for the peer group the company picked itself.
- Good
Does pay follow performance?
Pay rose and fell with returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.67 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- n/a
What does the CEO cost owners?
Not enough dataNo pay or net income figure for the latest year.
- Watch
Do they own the stock?
New CEO since the proxyNicholas I. Fink filed as President & CEO after the last proxy (which named William A. Newlands) and holds 3,476 shares. Their pay will be in the next proxy. Light activity: no buys, $939k sold in six months.
- Watch
Are owners being diluted?
Stock pay 0.7% of revenueStock-based pay was 0.7% of revenue in the latest year.
- Watch
Is leadership stable?
New CEO: Nicholas I. FinkNicholas I. Fink has filed as CEO since the last proxy. CEO in the pay table: William A. Newlands. 8 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Consumer Staples.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 0 | 31 | |
| Pay for performance | 83 | 84 | |
| CEO cost | — | — | 40 |
| Skin in the game | — | — | 65 |
| Dilution | 95 | 60 | |
| Stable leadership | 70 | 70 | |
| Clean books | 100 | 100 |
Closest peers
Others in Distillers & Vintners, by management score. Constellation Brands is 12th of 33 in its sector.
- 180SYYSysco70
- 185STZConstellation Brands70
- 193MNSTMonster Beverage69
- 216SJMJ.M. Smucker Company (The)67
- 239CHDChurch & Dwight65
- 475BF.BBrown–Forman37
Pay versus performance
From the proxy statement filed June 8, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2026 | William A. Newlands | $14.2m | $10.9m | $4.0m | $80 | $167 | — |
| 2025 | — | $15.0m | −$854k | $3.4m | $87 | $144 | — |
| 2024 | — | $14.6m | $19.4m | $5.3m | $121 | $126 | — |
| 2023 | — | $16.1m | $15.7m | $10.4m | $107 | $129 | — |
| 2022 | — | $12.0m | $5.0m | $6.7m | $102 | $125 | — |
The board says pay is tied most to Net Sales. Its other key measures: Comparable EBIT, Free Cash Flow.
Insiders and the CEO's stake
Nicholas I. Fink (President & CEO) held 3,476 shares directly after their latest Form 4 on Jul 10, 2026.
Light activity: no buys, $939k sold in six months.
- SoldJames O. BourdeauEVP and Senior Advisor$631kMay 12, 2026
- SoldErnesto M HernandezDirector$308kApr 27, 2026
Leadership and governance on file
- Jul 24, 2026Leadership change8-K 5.02
- May 21, 2026Leadership change8-K 5.02
- Feb 12, 2026Leadership change8-K 5.02
- Oct 2, 2025Leadership change8-K 5.02
- Jul 17, 2025Leadership change8-K 5.02
- Aug 29, 2024Leadership change8-K 5.02
- Feb 20, 2024Leadership change8-K 5.02
- Jan 5, 2024Leadership change8-K 5.02
- Jul 18, 2023Leadership change8-K 5.02
- Mar 28, 2023Leadership change8-K 5.02
- Jan 26, 2023Leadership change8-K 5.02
- Nov 10, 2022Leadership change8-K 5.02
Latest shareholder vote results: Jul 24, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $8.7bn returned to owners in buybacks and dividends, 269% of net income, and $316.9m of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $8.8bn | $9.5bn | $10.0bn | $10.2bn | $9.1bn |
| Net income | −$40.4m | −$71.0m | $1.7bn | −$81.4m | $1.7bn |
| Stock-based pay | $44.9m | $68.5m | $63.6m | $72.2m | $67.7m |
| Buybacks | $1.4bn | $1.7bn | $249.7m | $1.1bn | $924.1m |
| Dividends | $573.0m | $587.7m | $653.8m | $731.8m | $715.7m |
| Diluted shares | — | — | — | — | — |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.