Ambev S.A. logo

Ambev S.A.

ABEV

NYSEConsumer DefensiveBeverages - Alcoholic

Previous close

$2.88

+$0.05 · +1.77%

Aug 21, 4:00 PM ET

ABEV company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Buy

Favorable setup — positive multi-factor alignment

Valuation

84

Deep Value

Momentum

57

Neutral

Sentiment

59

Mixed

Risk resilience

81

Low Risk

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Company profile

Company website

Ambev S.A., operating through its various subsidiaries, is a prominent player in the beverage and food industry across the Americas. The company is engaged in the manufacturing, marketing, and distribution of a diverse portfolio of products, including various types of beer (both packaged and on tap), carbonated soft drinks, other non-alcoholic beverages, malt, and food items. Its extensive operations are structured into four primary geographical divisions: Brazil; Central America and the Caribbean; Latin America South; and Canada. Ambev's vast selection of beer labels features widely recognized names such as Skol, Brahma, Antarctica, Brahva, Brahva Gold, Extra, Bud Light, Beck, Leffe, Hoegaarden, Bucanero, Cristal, Mayabe, Cacique, Presidente, Brahma Light, Presidente Light, Presidente Golden Light, Bohemia, The One, Corona, Modelo Especial, Stella Artois, Budweiser, Quilmes Clásica, Paceña, Taquiña, Huari, Becker, Cusqueña, Michelob Ultra, Busch, Pilsen, Ouro Fino, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith's, and Kokanee. Beyond alcoholic offerings, the company also provides a comprehensive range of non-alcoholic drinks. These include bottled water, isotonic and energy beverages, coconut water, powdered and natural fruit juices, and ready-to-drink teas. These products are sold under popular brands like Guaraná Antarctica, Gatorade, H2OH!, Lipton Iced Tea, Fusion, Do Bem, Pepsi, Canada Dry, Squirt, Red Rock, Pepsi-Cola, Seven Up, Nutrl, Bud Light Seltzer, Palm Bay, and Mike's. Products are made available to consumers through a multifaceted distribution approach, combining its own direct distribution network with a system that leverages third-party distributors. Ambev S.A. was founded in 1885 and maintains its corporate headquarters in São Paulo, Brazil. It operates as a subsidiary of Interbrew International B.V.

Industry
Beverages - Alcoholic
Sector
Consumer Defensive
Headquarters
BR
CEO
Carlos Eduardo Klutzenschell Lisboa
Listed since
Mar 5, 1997
Employees
39,000

Market position

Day range

Current $2.88

52-week range

Current $2.88

Open
$2.85
Previous close
$2.83
Volume
23.92M
0.84× average
Average volume
28.42M
Average daily volume
Market cap
44.5B USD
Beta
0.27
Market reference 1
50-day average
$3.0486
-5.53% below average
200-day average
$2.8936
-0.47% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
197.99B BRL
EV / EBITDA
6.83×
Earnings yield
7.34%
Free cash flow yield
9.40%

Profitability & efficiency

Return on equity
17.63%
Return on assets
10.47%
Return on invested capital
17.72%

Financial health

Current ratio
0.96×
Altman Z-score
4.07
Piotroski F-score
7 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends55%41%27%13%Gross margin, FY2021: 51.05%Gross margin, FY2022: 49.29%Gross margin, FY2023: 50.72%Gross margin, FY2024: 51.24%Gross margin, FY2025: 51.42%Operating margin, FY2021: 23.44%Operating margin, FY2022: 22.19%Operating margin, FY2023: 23.62%Operating margin, FY2024: 24.37%Operating margin, FY2025: 25.30%Net margin, FY2021: 17.39%Net margin, FY2022: 18.14%Net margin, FY2023: 18.19%Net margin, FY2024: 16.14%Net margin, FY2025: 17.57%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 51.05%. Gross margin FY2022 49.29%. Gross margin FY2023 50.72%. Gross margin FY2024 51.24%. Gross margin FY2025 51.42%. Operating margin FY2021 23.44%. Operating margin FY2022 22.19%. Operating margin FY2023 23.62%. Operating margin FY2024 24.37%. Operating margin FY2025 25.30%. Net margin FY2021 17.39%. Net margin FY2022 18.14%. Net margin FY2023 18.19%. Net margin FY2024 16.14%. Net margin FY2025 17.57%.

Income trends

Revenue

88.24B BRL-1.35%

Operating income

22.32B BRL+2.39%

Net income

15.5B BRL+7.39%
Income trends across reported periods97.13B BRL66.42B BRL35.71B BRL4.99B BRLRevenue, FY2021: 72.85B BRLRevenue, FY2022: 79.71B BRLRevenue, FY2023: 79.74B BRLRevenue, FY2024: 89.45B BRLRevenue, FY2025: 88.24B BRLOperating income, FY2021: 17.08B BRLOperating income, FY2022: 17.69B BRLOperating income, FY2023: 18.83B BRLOperating income, FY2024: 21.8B BRLOperating income, FY2025: 22.32B BRLNet income, FY2021: 12.67B BRLNet income, FY2022: 14.46B BRLNet income, FY2023: 14.5B BRLNet income, FY2024: 14.44B BRLNet income, FY2025: 15.5B BRLFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 72.85B BRL. Revenue FY2022 79.71B BRL. Revenue FY2023 79.74B BRL. Revenue FY2024 89.45B BRL. Revenue FY2025 88.24B BRL. Operating income FY2021 17.08B BRL. Operating income FY2022 17.69B BRL. Operating income FY2023 18.83B BRL. Operating income FY2024 21.8B BRL. Operating income FY2025 22.32B BRL. Net income FY2021 12.67B BRL. Net income FY2022 14.46B BRL. Net income FY2023 14.5B BRL. Net income FY2024 14.44B BRL. Net income FY2025 15.5B BRL.
Metric (BRL)FY2025FY2024FY2023FY2022FY2021
Revenue88.24B BRL89.45B BRL79.74B BRL79.71B BRL72.85B BRL
Cost of goods sold42.86B BRL43.62B BRL39.29B BRL40.42B BRL35.66B BRL
Gross profit45.38B BRL45.84B BRL40.45B BRL39.29B BRL37.19B BRL
Selling, general, and administrative25.14B BRL26.39B BRL23.44B BRL23.97B BRL21.85B BRL
Operating expenses23.06B BRL24.04B BRL21.61B BRL21.6B BRL20.11B BRL
Interest income1.4B BRL1.62B BRL417.55M BRL419.72M BRL1.14B BRL
Interest expense2.72B BRL2.4B BRL578.43M BRL596.1M BRL1.43B BRL
Depreciation and amortization6.83B BRL7.13B BRL6.42B BRL5.96B BRL5.4B BRL
Operating income22.32B BRL21.8B BRL18.83B BRL17.69B BRL17.08B BRL
Net income15.5B BRL14.44B BRL14.5B BRL14.46B BRL12.67B BRL

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
18%
2 beats, 1 miss, 8 met estimates
Average EPS surprise
+3.19%
11 comparable reports
Latest EPS result
0.04
Estimate 0.04 · Met by 0.00%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.090.070.050.03Q1 '25MetQ2 '25MetQ3 '25MetQ4 '25MetQ1 '26MetQ2 '26MetQ3 '26MetQ4 '26Estimate
Q1 2025, reported Feb 26, 2025: actual 0.05, estimate 0.05, surprise 0.00%, Met estimate. Q2 2025, reported May 8, 2025: actual 0.04, estimate 0.04, surprise 0.00%, Met estimate. Q3 2025, reported Jul 31, 2025: actual 0.03, estimate 0.03, surprise 0.00%, Met estimate. Q4 2025, reported Oct 30, 2025: actual 0.04, estimate 0.04, surprise 0.00%, Met estimate. Q1 2026, reported Feb 12, 2026: actual 0.05, estimate 0.05, surprise 0.00%, Met estimate. Q2 2026, reported May 5, 2026: actual 0.05, estimate 0.05, surprise 0.00%, Met estimate. Q3 2026, reported Jul 30, 2026: actual 0.04, estimate 0.04, surprise 0.00%, Met estimate. Q4 2026, reported Oct 29, 2026: actual —, estimate 0.05, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates5.44B4.75B4.07B3.38BQ1 '25BeatQ2 '25BeatQ3 '25MissQ4 '25MissQ1 '26BeatQ2 '26BeatQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 26, 2025: actual 4.68B USD, estimate 3.83B USD, surprise +22.03%, Beat. Q2 2025, reported May 8, 2025: actual 3.96B USD, estimate 3.83B USD, surprise +3.39%, Beat. Q3 2025, reported Jul 31, 2025: actual 3.59B USD, estimate 3.82B USD, surprise -6.02%, Miss. Q4 2025, reported Oct 30, 2025: actual 3.87B USD, estimate 3.99B USD, surprise -2.87%, Miss. Q1 2026, reported Feb 12, 2026: actual 5.23B USD, estimate 4.62B USD, surprise +13.08%, Beat. Q2 2026, reported May 5, 2026: actual 4.56B USD, estimate 4.38B USD, surprise +4.19%, Beat. Q3 2026, reported Jul 30, 2026: actual 3.97B USD, estimate 4.05B USD, surprise -1.93%, Miss. Q4 2026, reported Oct 29, 2026: actual —, estimate 4.26B USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$3.18

10.42% upside
Past 12 months12-month forecastHigh $3.50Average $3.18Low $2.85

Rating distribution

15 ratings
Strong buy00%
Buy213%
Hold853%
Sell533%
Strong sell00%

Corporate actions

Corporate action history

Stock split

Effective Nov 11, 2013

5:1

Stock split

Effective Dec 28, 2010

5:1

Stock split

Effective Jun 9, 2005

6:5

ABEV peers

ETFs holding ABEV

Funds reporting this stock among their holdings, ordered by reported position size.

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