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Ambev (ABEV) USD

At a glance: strengths & risks
✓Revenue growing (+11%)✓Profit growing (+21%)✓Net cash balance sheet

Sector: Beverages

BR_ABEV

Price chart

2.8 USDDay -1.41%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
2.8 USD · -1.41%
Market cap
43.7 bn USD

Growth

Δ revenue y/y
10.1%
Δ EBITDA y/y
14.5%

Multiples

P/E (LTM)
13.9x
P/B (FY)
2.7x
P/E (ann.)
16.0x
EV/EBITDA (LTM)
6.9x
EV/EBITDA (ann.)
8.1x

Cash return

Dividend yield
0.3%
FCF yield (LTM)
1.0%

Value creation

fundamental value/yr, % of market cap
Value created / year
+12.9%
↓ details

Liquidity

Daily turnover (listing)
103.7 mln USD

Shares: yahoo_fundamentals_timeseries/ABEV

Financial results

Monetary columns are in B USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueB USDOperating profitB USDD&AB USDEBITDAB USDNet profitB USDOperating CFB USDCapex + M&AB USDAssetsB USDEquityB USDROE (annualized)Net debtB USDSource
2026-06-30Q2 2026 (3M)PARTIAL4.0
y/y 10.1%
1.0
y/y 20.6%
0.3
y/y -1.3%
1.3
y/y 14.5%
0.7
y/y 36.7%
0.3-0.127.2
y/y 6.7%
17.5
y/y 4.7%
15.4%-3.0Link
2026-03-31Q1 2026 (3M)PARTIAL4.5
y/y 11.8%
1.2
y/y 17.4%
0.3
y/y 4.8%
1.5
y/y 14.5%
0.8
y/y 14.4%
0.6-0.128.5
y/y 8.6%
18.1
y/y 6.6%
18.1%-3.3Link
2025-12-31Q4 2025 (3M)PARTIAL4.4
y/y 42.6%
1.3
y/y 42.8%
0.3
y/y 42.6%
1.6
y/y 42.7%
0.8
y/y 28.7%
2.4-0.326.5
y/y 0.7%
16.2
y/y 0.6%
17.5%-3.1Link
2025-09-30Q3 2025 (3M)PARTIAL3.9
y/y 1.0%
1.2
y/y 26.0%
0.3
y/y -1.0%
1.5
y/y 19.4%
0.9
y/y 46.0%
1.3-0.226.2
y/y 2.3%
17.2
y/y 0.4%
7.1%-3.1Link
2025-06-30Q2 2025 (3M)PARTIAL3.6
y/y 0.9%
0.8
y/y 9.2%
0.3
y/y -0.4%
1.1
y/y 6.4%
0.5
y/y 14.5%
0.5-0.225.5
y/y -0.3%
16.7
y/y -2.3%
11.9%-2.6Link
2025-03-31Q1 2025 (3M)PARTIAL4.0
y/y 1.0%
1.0
y/y 6.6%
0.3
y/y -4.4%
1.3
y/y 3.8%
0.7
y/y -8.9%
0.2-0.126.2
y/y 0.2%
17.0
y/y -0.5%
16.4%-3.0Link
2024-12-31Q4 2024 (3M)PARTIAL3.1
y/y -28.2%
0.9
y/y -21.2%
0.2
y/y -30.6%
1.2
y/y -23.3%
0.6
y/y -38.4%
2.1-0.226.3
y/y -4.0%
16.1
y/y -2.7%
14.4%-4.3Link
2024-09-30Q3 2024 (3M)PARTIAL3.8
y/y -4.8%
0.9
y/y -4.3%
0.3
y/y -9.3%
1.2
y/y -5.6%
0.6
y/y -22.2%
1.4-0.225.6
y/y -6.5%
17.2
y/y -5.4%
4.8%-3.0Link
2024-06-30Q2 2024 (3M)PARTIAL3.6
y/y -10.7%
0.7
y/y -1.1%
0.3
y/y -15.0%
1.0
y/y -5.7%
0.4
y/y -20.5%
0.6-0.225.6
y/y -9.4%
17.1
y/y -6.4%
10.2%-2.1Link
2024-03-31Q1 2024 (3M)PARTIAL4.0
y/y -3.8%
1.0
y/y -2.5%
0.3
y/y 4.2%
1.3
y/y -0.9%
0.7
y/y -3.0%
0.1-0.226.2
y/y -3.8%
17.1
y/y -1.5%
17.7%-2.0Link
2023-12-31Q4 2023 (3M)PARTIAL4.3
y/y —
1.2
y/y —
0.3
y/y —
1.5
y/y —
1.0
y/y —
2.9-0.527.4
y/y —
16.6
y/y —
17.8%-2.7Link
2023-09-30Q3 2023 (3M)PARTIAL4.0
y/y —
1.0
y/y —
0.3
y/y —
1.3
y/y —
0.8
y/y —
1.6-0.327.3
y/y —
18.1
y/y —
5.8%-2.8Link
2023-06-30Q2 2023 (3M)PARTIAL4.0
y/y —
0.7
y/y —
0.4
y/y —
1.1
y/y —
0.5
y/y —
0.7-0.328.2
y/y —
18.3
y/y —
12.4%-1.8Link
2023-03-31Q1 2023 (3M)PARTIAL4.1
y/y —
1.0
y/y —
0.3
y/y —
1.3
y/y —
0.8
y/y —
-0.1-0.227.2
y/y —
17.3
y/y —
—-1.8Link

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

01 0002 0003 0004 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

-40%-20%0%20%40%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

FCF ($ mln)

-50005001 0001 5002 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Net debt / cash ($ mln)

-5 000-4 000-3 000-2 000-1 00002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Profit and cash

Profit is cash-backed
In a typical year of 2021–2025 operating cash flow came to 1.65x of reported net profit; after capex, 1.25x.
year20212022202320242025
cash flow / profit1.75x1.39x1.65x1.76x1.53x
accruals, % of assets-7.1%-4.2%-7.3%-6.9%-5.8%
Last twelve months (to 2026-06-30): 1.46x of profit came back as operating cash flow.
net debt / EBITDA -0.6x · capex 0.7x of depreciation
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Fundamental value creation

Value the company creates per year, as a % of market cap

Value created per year: +12.9%

How this was calculated
1. EBITDA growth (latest quarter YoY, annualised)
[EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X (2026-06-30 vs 2025-06-30)
= (1 252 − 1 093) × 4.70
744
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (43 729 + -3 032) ÷ 5 879
6.9x
3. Target multiple
(Current EV/EBITDA + 7) ÷ 2
= (6.9 + 7) ÷ 2
7.0x
4. Cash flow (balance method, LTM)
Net-debt reduction + dividends + buybacks − equity issuance
= 455 + 0 + 0 − 0
455
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (744 × 7.0 + 455) ÷ 43 729
+12.9%

Amounts in millions of the reporting currency. EBITDA growth is the latest quarter vs the same quarter a year ago, annualised.

Caveats:

  • dividends/buybacks not in data - balance cash flow uses net-debt change only

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +11% vs -12% the year before — a +23.4 pp move. 3-year CAGR +1%.
revenue growth by year: 2023 +7% · 2024 -12% · 2025 +11%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-06-240.009 USDEx-dividend: 0.009 USD per sharePaidYahoo Finance (ex-div)
2025-08-110.023 USDEx-dividend: 0.023 USD per sharePaidYahoo Finance (ex-div)
2025-05-190.024 USDEx-dividend: 0.024 USD per sharePaidYahoo Finance (ex-div)
2025-03-180.022 USDEx-dividend: 0.022 USD per sharePaidYahoo Finance (ex-div)
2024-12-230.108 USDEx-dividend: 0.108 USD per sharePaidYahoo Finance (ex-div)
2023-12-220.147 USDEx-dividend: 0.147 USD per sharePaidYahoo Finance (ex-div)
2022-12-200.146 USDEx-dividend: 0.146 USD per sharePaidYahoo Finance (ex-div)
2021-12-200.108 USDEx-dividend: 0.108 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Investor reporting (IR): https://ri.ambev.com.br/en/

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Ambev (ABEV) — from primary filings.

Ambev S.A. produces and distributes beer, soft drinks, and other beverages across Brazil, Latin America, and Canada, operating a broad network of distributors, supermarkets, and retailers.

Frequently asked questions

What is Ambev (ABEV)'s P/E ratio?
Ambev (ABEV) trades at a P/E of 13.9x (price to trailing 12-month earnings).
What is Ambev (ABEV)'s EV/EBITDA?
Ambev (ABEV) trades at 6.9x EV/EBITDA.
What is Ambev (ABEV)'s P/B ratio?
Ambev (ABEV) trades at a P/B of 2.7x.
What is Ambev (ABEV)'s dividend yield?
Ambev (ABEV)'s trailing 12-month dividend yield is 0.3%.
What is Ambev (ABEV)'s return on equity (ROE)?
Ambev (ABEV)'s ROE is 15.4%.
What is Ambev (ABEV)'s market capitalization?
Ambev (ABEV)'s market cap is 43.7 bn USD.

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