NYSE Shariah screener · October 2026
Is Constellation Brands, Inc. (STZ) Halal?
Constellation Brands, Inc. · NYSE: STZ · Consumer Staples
The short answer
Constellation Brands fails the Shariah screen: beverage alcohol is its core business (Beer ~$8.3B plus Wine & Spirits $824M = effectively all of FY2026's $9,139.0M in net sales), and its $10.57B of interest-bearing debt is 54.6% of its ~$19.35 billion market cap, above the 33% ceiling. Interest income of $1.9M (0.02% of net sales) is under the 5% ceiling, but does not change the FAIL.
Gate 1 — Business activity: FAIL
Gate 1 — business activity: FAIL. Constellation Brands, Inc., founded in 1945 and based in Victor, New York, is a beverage alcohol company: per its FY2026 Form 10-K it produces, imports, markets and sells beer, wine and spirits through its Beer segment and its Wine and Spirits segment. Brands include Modelo Especial (the best-selling beer in the US by dollar sales), Corona Extra, Corona Light and Pacifico (beer); Robert Mondavi, Kim Crawford, Meiomi, The Prisoner Wine Company and Ruffino (wine); and Casa Noble tequila and High West whiskey (spirits).
Alcohol is not an incidental line here — it is the core business. In FY2026 the Beer segment generated about $8.3 billion of net sales and the Wine and Spirits segment $824 million, together accounting for essentially all of the company's $9,139.0 million in reported net sales. Because producing and selling alcoholic drinks is a prohibited business activity, Constellation Brands fails gate 1, and the overall result is FAIL regardless of its financial ratios.
Gate 2 — Debt and cash: FAIL
Gate 2 — interest-bearing debt: FAIL (54.6%, ceiling 33%). Per Constellation Brands' FY2026 consolidated balance sheet (February 28, 2026), interest-bearing debt was $10,568.5 million: short-term borrowings of $272.0 million, current maturities of long-term debt of $603.6 million, and long-term debt (less current maturities) of $9,692.9 million. Cash and cash equivalents were $102.4 million.
$10.57 billion of interest-bearing debt against a market capitalization of about $19.35 billion (Finnhub, October 2, 2026) is 54.6%, well above the 33% ceiling — so the debt gate fails as well.
Gate 3 — Non-compliant income: PASS
Gate 3 — non-compliant income: PASS (0.02%, ceiling 5%). Constellation Brands' FY2026 Form 10-K discloses interest income of $1.9 million for the year ended February 28, 2026, in its Note on derivative instruments (periodic interest settlements on cross-currency swaps recorded in earnings through interest expense, net). Against FY2026 net sales of $9,139.0 million, that is about 0.02%, far under the 5% ceiling.
This gate passes on the numbers. It does not change the outcome: the overall result is FAIL because the business gate fails on alcohol.
Key figures used
- Business: beverage alcohol company founded 1945, HQ Victor, NY - produces, imports, markets and sells beer (Beer segment) and wine and spirits (Wine and Spirits segment); FY2026 Form 10-K, year ended Feb 28, 2026
- Brands: Modelo Especial (best-selling US beer by dollar sales), Corona Extra, Corona Light, Pacifico; Robert Mondavi, Kim Crawford, Meiomi, The Prisoner, Ruffino (wine); Casa Noble tequila, High West whiskey (spirits)
- Haram assessment: alcohol is the CORE business - Beer net sales ~$8.3B and Wine & Spirits $824M in FY2026, together effectively 100% of $9,139.0M net sales; gate 1 FAILS
- Debt: $10,568.5M interest-bearing ($272.0M short-term borrowings + $603.6M current maturities + $9,692.9M long-term debt at Feb 28, 2026) - 54.6% of ~$19.35B market cap (Finnhub, Oct 2, 2026) - above the 33% ceiling, gate 2 FAILS
- Cash: $102.4M cash and cash equivalents at Feb 28, 2026 (~0.5% of market cap)
- Interest income: $1.9M in FY2026 (10-K Note on derivatives) vs $9,139.0M net sales = 0.02% - under the 5% ceiling, gate 3 passes (does not change overall FAIL)
- Market data: NYSE-listed; still listed on NYSE (confirmed October 2, 2026; live quotes, no delisting)
- Third-party: Zoya publishes an STZ page and flags it not Shariah-compliant (its page text is internally contradictory); Musaffa classifies STZ as not halal (Sep 2026); no verifiable ShariaPortfolio rating found
Frequently asked questions
What does Constellation Brands do?
Constellation Brands, Inc. (NYSE: STZ) is a beverage alcohol company founded in 1945 and based in Victor, New York. Per its FY2026 Form 10-K, it produces, imports, markets and sells beer, wine and spirits through two segments: Beer and Wine and Spirits. Its beer brands include Modelo Especial (the best-selling beer in the US by dollar sales), Corona Extra, Corona Light and Pacifico; its wine brands include Robert Mondavi, Kim Crawford, Meiomi, The Prisoner Wine Company and Ruffino; and its spirits brands include Casa Noble tequila and High West whiskey.
Is Constellation Brands' business Shariah compliant?
No. Constellation Brands fails the business-activity gate of this screen: it is a pure beverage alcohol company, and alcohol is a prohibited business line under Shariah screening criteria, not an incidental one. In FY2026 its Beer segment generated about $8.3 billion of net sales and its Wine and Spirits segment $824 million - together accounting for essentially all of the company's $9,139.0 million in reported net sales. Because the core business is producing and selling alcoholic drinks, it fails at gate 1 regardless of its financial ratios.
How much interest-bearing debt does Constellation Brands have?
Constellation Brands' interest-bearing debt at February 28, 2026 was $10,568.5 million: short-term borrowings of $272.0 million, current maturities of long-term debt of $603.6 million, and long-term debt of $9,692.9 million, per the FY2026 Form 10-K consolidated balance sheet. Against a market capitalization of about $19.35 billion (Finnhub, October 2, 2026) that is about 54.6% - well above the 33% ceiling, so it also fails the debt gate.
How much interest income does Constellation Brands earn?
Constellation Brands' FY2026 Form 10-K discloses interest income of $1.9 million for the year ended February 28, 2026, in its Note on derivative instruments (periodic interest settlements on cross-currency swaps recorded in earnings). Against FY2026 net sales of $9,139.0 million, that is about 0.02% - under the 5% non-compliant income ceiling. This gate passes on the numbers, but the overall result is still FAIL because the business gate fails on alcohol.
What do third-party Shariah screeners say about Constellation Brands?
Zoya publishes a Constellation Brands (STZ) page and flags the stock as not Shariah-compliant, though the FAQ text on its page is internally contradictory about interest income, so treat its published reasoning with caution. Musaffa publishes an STZ page and, as of September 2026, classifies Constellation Brands as not halal under its AAOIFI-based methodology. I could not verify a ShariaPortfolio rating page for STZ from public sources. Third-party screeners apply different assumptions and update on different schedules, and their results can change when new financial statements are published - always check the latest screening before investing.
Sources
- Constellation Brands FY2026 Form 10-K (fiscal year ended February 28, 2026 - business segments, consolidated balance sheet, Note on derivatives - interest income $1.9M)
- Minichart - Constellation Brands Q4 FY2026 earnings summary (Beer net sales $8.3B, Wine & Spirits $824M, long-term debt $9.7B)
- Finnhub - Constellation Brands financial market data (market cap $19.35B, price)
- Zoya - Constellation Brands (STZ) Shariah compliance page
- Musaffa - Constellation Brands (STZ) Shariah compliance page
Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.
Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).