$Constellation Brands (STZ.US)$Most of the revenue of the Am...

Revenue has continued to grow over the past 5 years, with an average growth rate of 4.5%. Operating profit only shrunk for 1 year in 2023 due to the double impact of costs and expenses. The average growth rate was 4.5%. Net profit fluctuated greatly in recent years due to losses on the sale of securities, equity losses, and cancellations, with an average net profit of 1.09 billion yuan over 5 years. Interest expenses account for 14% of operating profit in 2023, and the interest burden is slightly heavy. The gross margin has fluctuated around 50.5% in the past 5 years.

In the first three quarters of 2024, revenue increased 4.9%, operating profit increased 6.9%, and net profit of 1.36 billion yuan.

Currently, the price-earnings ratio is TTM 28.7. If net profit for the whole year grows to 1.8 billion, the price-earnings ratio will drop to 25, and the dividend ratio is 1.4%, so the valuation is not very attractive.