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Side-by-side financial comparison of Constellation Brands (STZ) and Texas Roadhouse, Inc. (TXRH). Click either name above to swap in a different company.
Constellation Brands is the larger business by last-quarter revenue ($2.2B vs $1.5B, roughly 1.5× Texas Roadhouse, Inc.). Constellation Brands runs the higher net margin — 22.6% vs 5.8%, a 16.8% gap on every dollar of revenue. On growth, Texas Roadhouse, Inc. posted the faster year-over-year revenue change (3.1% vs -9.8%). Over the past eight quarters, Texas Roadhouse, Inc.'s revenue compounded faster (12.8% CAGR vs 1.9%).
Constellation Brands, Inc. is an American producer and marketer of beer, wine, and spirits. A Fortune 500 company, Constellation is the largest beer import company in the US, measured by sales, and has the third-largest market share of all major beer suppliers. It also has sizable investments in medical and recreational cannabis through its association with Canopy Growth. Based in Rochester, New York, Constellation has about 40 facilities and approximately 9,000 employees.
Texas Roadhouse is an American steakhouse chain that specializes in steaks in a Texan and Southwestern cuisine style. It is a subsidiary of Texas Roadhouse Inc, which has two other concepts and is headquartered in Louisville, Kentucky. As of August 2025, the chain operates about 800 locations in 49 U.S. states and 70 international locations in 11 countries.
STZ vs TXRH — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.2B | $1.5B |
| Net Profit | $502.8M | $86.7M |
| Gross Margin | 53.2% | — |
| Operating Margin | 31.1% | 6.5% |
| Net Margin | 22.6% | 5.8% |
| Revenue YoY | -9.8% | 3.1% |
| Net Profit YoY | -18.4% | -26.9% |
| EPS (diluted) | — | $1.29 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $2.2B | $1.5B | ||
| Q3 25 | $2.5B | $1.4B | ||
| Q2 25 | $2.5B | $1.4B | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $2.5B | $1.4B | ||
| Q3 24 | $2.9B | $1.3B | ||
| Q2 24 | $2.7B | $1.3B | ||
| Q1 24 | $2.1B | $1.3B |
| Q4 25 | $502.8M | $86.7M | ||
| Q3 25 | $466.0M | $84.9M | ||
| Q2 25 | $516.1M | $116.1M | ||
| Q1 25 | $-375.3M | — | ||
| Q4 24 | $615.9M | $118.5M | ||
| Q3 24 | $-1.2B | $86.8M | ||
| Q2 24 | $877.0M | $123.1M | ||
| Q1 24 | $392.4M | $116.0M |
| Q4 25 | 53.2% | — | ||
| Q3 25 | 52.8% | — | ||
| Q2 25 | 50.4% | — | ||
| Q1 25 | 51.5% | — | ||
| Q4 24 | 52.1% | — | ||
| Q3 24 | 51.8% | — | ||
| Q2 24 | 52.7% | — | ||
| Q1 24 | 48.6% | — |
| Q4 25 | 31.1% | 6.5% | ||
| Q3 25 | 35.2% | 6.7% | ||
| Q2 25 | 28.4% | 9.3% | ||
| Q1 25 | -6.9% | — | ||
| Q4 24 | 32.2% | 9.6% | ||
| Q3 24 | -42.1% | 8.0% | ||
| Q2 24 | 35.4% | 10.6% | ||
| Q1 24 | 29.4% | 10.1% |
| Q4 25 | 22.6% | 5.8% | ||
| Q3 25 | 18.8% | 5.9% | ||
| Q2 25 | 20.5% | 8.0% | ||
| Q1 25 | -17.3% | — | ||
| Q4 24 | 25.0% | 8.2% | ||
| Q3 24 | -41.1% | 6.8% | ||
| Q2 24 | 32.9% | 9.2% | ||
| Q1 24 | 18.3% | 8.8% |
| Q4 25 | — | $1.29 | ||
| Q3 25 | — | $1.25 | ||
| Q2 25 | — | $1.70 | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.73 | ||
| Q3 24 | — | $1.26 | ||
| Q2 24 | — | $1.79 | ||
| Q1 24 | — | $1.69 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $152.4M | $134.7M |
| Total DebtLower is stronger | $10.3B | — |
| Stockholders' EquityBook value | $7.7B | $1.5B |
| Total Assets | $21.7B | $3.5B |
| Debt / EquityLower = less leverage | 1.33× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $152.4M | $134.7M | ||
| Q3 25 | $72.0M | $108.2M | ||
| Q2 25 | $73.9M | $221.1M | ||
| Q1 25 | $68.1M | — | ||
| Q4 24 | $73.7M | $245.2M | ||
| Q3 24 | $64.6M | $189.2M | ||
| Q2 24 | $73.8M | $197.5M | ||
| Q1 24 | $152.4M | $213.4M |
| Q4 25 | $10.3B | — | ||
| Q3 25 | $10.3B | — | ||
| Q2 25 | $11.2B | — | ||
| Q1 25 | $10.7B | — | ||
| Q4 24 | $10.7B | — | ||
| Q3 24 | $11.1B | — | ||
| Q2 24 | $11.1B | — | ||
| Q1 24 | $11.6B | — |
| Q4 25 | $7.7B | $1.5B | ||
| Q3 25 | $7.5B | $1.5B | ||
| Q2 25 | $7.3B | $1.4B | ||
| Q1 25 | $6.9B | — | ||
| Q4 24 | $7.8B | $1.4B | ||
| Q3 24 | $7.9B | $1.3B | ||
| Q2 24 | $10.3B | $1.3B | ||
| Q1 24 | $9.7B | $1.2B |
| Q4 25 | $21.7B | $3.5B | ||
| Q3 25 | $21.4B | $3.3B | ||
| Q2 25 | $22.3B | $3.2B | ||
| Q1 25 | $21.7B | — | ||
| Q4 24 | $22.8B | $3.2B | ||
| Q3 24 | $23.1B | $2.9B | ||
| Q2 24 | $26.1B | $2.9B | ||
| Q1 24 | $25.7B | $2.8B |
| Q4 25 | 1.33× | — | ||
| Q3 25 | 1.37× | — | ||
| Q2 25 | 1.54× | — | ||
| Q1 25 | 1.55× | — | ||
| Q4 24 | 1.37× | — | ||
| Q3 24 | 1.41× | — | ||
| Q2 24 | 1.08× | — | ||
| Q1 24 | 1.19× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $616.9M | — |
| Free Cash FlowOCF − Capex | $370.9M | — |
| FCF MarginFCF / Revenue | 16.7% | — |
| Capex IntensityCapex / Revenue | 11.1% | — |
| Cash ConversionOCF / Net Profit | 1.23× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.8B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $616.9M | — | ||
| Q3 25 | $852.1M | $143.6M | ||
| Q2 25 | $637.2M | $237.7M | ||
| Q1 25 | $594.7M | — | ||
| Q4 24 | $685.2M | $237.5M | ||
| Q3 24 | $1.2B | $138.7M | ||
| Q2 24 | $690.5M | $133.9M | ||
| Q1 24 | $433.2M | $243.4M |
| Q4 25 | $370.9M | — | ||
| Q3 25 | $634.8M | $14.7M | ||
| Q2 25 | $444.4M | $160.4M | ||
| Q1 25 | $312.1M | — | ||
| Q4 24 | $456.8M | $129.7M | ||
| Q3 24 | $854.0M | $47.7M | ||
| Q2 24 | $315.2M | $56.1M | ||
| Q1 24 | $76.0M | $165.8M |
| Q4 25 | 16.7% | — | ||
| Q3 25 | 25.6% | 1.0% | ||
| Q2 25 | 17.7% | 11.1% | ||
| Q1 25 | 14.4% | — | ||
| Q4 24 | 18.5% | 9.0% | ||
| Q3 24 | 29.3% | 3.7% | ||
| Q2 24 | 11.8% | 4.2% | ||
| Q1 24 | 3.6% | 12.5% |
| Q4 25 | 11.1% | — | ||
| Q3 25 | 8.8% | 9.0% | ||
| Q2 25 | 7.7% | 5.3% | ||
| Q1 25 | 13.1% | — | ||
| Q4 24 | 9.3% | 7.5% | ||
| Q3 24 | 11.2% | 7.2% | ||
| Q2 24 | 14.1% | 5.8% | ||
| Q1 24 | 16.7% | 5.9% |
| Q4 25 | 1.23× | — | ||
| Q3 25 | 1.83× | 1.69× | ||
| Q2 25 | 1.23× | 2.05× | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.11× | 2.00× | ||
| Q3 24 | — | 1.60× | ||
| Q2 24 | 0.79× | 1.09× | ||
| Q1 24 | 1.10× | 2.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
STZ
| Beer | $2.0B | 90% |
| Constellation Wines And Spirits | $213.1M | 10% |
TXRH
| Food And Beverage | $1.5B | 99% |
| Texas Roadhouse Segment | $21.2M | 1% |
| Franchise | $8.2M | 1% |
| Franchise Royalty | $7.4M | 0% |
| Bubba S33Segment | $2.3M | 0% |
