Consumer Defensive · Beverages - Alcoholic
Price
$3.23
Market Cap
$50.4B
Employees
43,000
Beta
0.27
Avg Volume
28,073,682
CEO
Carlos Eduardo Klutzenschell Lisboa
Business Description
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.
Business History
Price Overview
Last updated: Jun 28, 2026 5:24am (just now)$3.23
+0.09 (+2.87%)
Day Range
$3.15 – $3.23
52-Week Range
$2.10 – $3.45
50-Day MA
$3.14
200-Day MA
$2.74
Volume
16,916,941.00
Analyst Price Targets
Low
$2.90
Consensus
$3.20
High
$3.50
(7 analysts)
Share Structure
Outstanding
15,596,729,000.00
Float
15,596,526,242.00
Free Float
100.0%
High free float
— 100.0% of shares trade freely, ~0% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
APIStock Price / EPS (Diluted)
16.76
Stock Price: $3.23
EPS (Diluted): 0.99
EPS (Diluted): 0.99
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
2.40
Stock Price: $3.23
Total Equity: $87.91B
Shares: 15,683,871,000
Total Equity: $87.91B
Shares: 15,683,871,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
8.72
Market Cap: $50.38B
Total Debt: $3.39B
Cash: $18.64B
EBITDA: $28.97B
Total Debt: $3.39B
Cash: $18.64B
EBITDA: $28.97B
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$198.0B
Market Cap: $50.38B
Total Debt: $3.39B
Cash: $18.64B
Total Debt: $3.39B
Cash: $18.64B
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
51.4%
Gross Profit: $45.38B
Revenue: $88.24B
Revenue: $88.24B
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
25.3%
Operating Income: $22.32B
Revenue: $88.24B
Revenue: $88.24B
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
17.6%
Net Income: $15.50B
Revenue: $88.24B
Revenue: $88.24B
ROE (Profit from shareholder equity)
APINet Income / Total Equity
17.2%
Net Income: $15.50B
Total Equity: $87.91B
Total Equity: $87.91B
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
17.5%
Operating Income: $22.32B
Tax Rate: 17.7%
Equity: $87.91B
Total Debt: $3.39B
Cash: $18.64B
Tax Rate: 17.7%
Equity: $87.91B
Total Debt: $3.39B
Cash: $18.64B
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
0.96
Current Assets: $43.88B
Current Liabilities: $45.60B
Current Liabilities: $45.60B
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.04
Short-Term Debt: $1.17B
Long-Term Debt: $2.22B
Total Debt: $3.39B
Total Equity: $87.91B
Long-Term Debt: $2.22B
Total Debt: $3.39B
Total Equity: $87.91B
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$5.63
Revenue: $88.24B
Shares: 15,683,871,000
Shares: 15,683,871,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$5.61
Total Equity: $87.91B
Shares: 15,683,871,000
Shares: 15,683,871,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$1.27
Operating CF: $24.45B
CapEx: -$4.59B
Shares: 15,683,871,000
CapEx: -$4.59B
Shares: 15,683,871,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
9.7%
Last Dividend: N/A
Stock Price: $3.23
Stock Price: $3.23
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $15.50B
Net Income: $15.50B
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares ABEV against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 28, 2026 5:24am (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $72.9B | $79.7B | $79.7B | $89.5B | $88.2B |
| Cost of Revenue | $35.7B | $40.4B | $39.3B | $43.6B | $42.9B |
| Gross Profit | $37.2B | $39.3B | $40.4B | $45.8B | $45.4B |
| Operating Expenses | $20.1B | $21.6B | $21.6B | $24.0B | $23.1B |
| Operating Income | $17.1B | $17.7B | $18.8B | $21.8B | $22.3B |
| Net Income | $12.7B | $14.5B | $14.5B | $14.4B | $15.5B |
| EBITDA | $21.0B | $23.1B | $24.3B | $29.0B | $29.0B |
| EPS | $0.81 | $0.92 | $0.92 | $0.92 | $0.99 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 28, 2026 5:24am (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $16.6B | $14.9B | $16.1B | $28.6B | $18.6B |
| Total Current Assets | $38.6B | $37.8B | $36.6B | $54.2B | $43.9B |
| Total Assets | $138.6B | $138.0B | $132.6B | $162.5B | $148.1B |
| Current Liabilities | $38.9B | $40.5B | $41.0B | $49.4B | $45.6B |
| Long-Term Debt | $267.2M | $454.3M | $391.0M | $324.0M | $2.2B |
| Total Liabilities | $54.6B | $54.6B | $52.5B | $62.9B | $59.3B |
| Total Equity | $82.6B | $82.0B | $79.0B | $98.6B | $87.9B |
| Retained Earnings | $0 | $0 | $0 | $0 | $18.0B |
Cash Flow (Annual)
Last updated: Jun 28, 2026 5:24am (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $22.9B | $20.6B | $24.7B | $26.1B | $24.5B |
| Capital Expenditure | -$7.7B | -$6.5B | -$6.0B | -$4.7B | -$4.6B |
| Free Cash Flow | $15.2B | $14.1B | $18.7B | $21.3B | $19.9B |
| Acquisitions (net) | -$133.3M | -$3.0M | -$46.5M | $10.3M | $75.6M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$44.2M | -$54.1M | -$119.0M | -$467.6M | -$1.9B |
| Net Change in Cash | -$493.1M | -$1.7B | $1.2B | $12.5B | -$10.0B |
Analyst Estimates (Annual)
Last updated: Jun 28, 2026 5:24am (just now)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$100.2B $99.2B – $101.3B
|
$105.7B $102.0B – $108.5B
|
$112.5B $108.5B – $115.4B
|
$119.3B $115.0B – $122.4B
|
| EBITDA |
$30.8B $30.4B – $31.1B
|
$32.4B $31.3B – $33.3B
|
$34.5B $33.3B – $35.4B
|
$36.6B $35.3B – $37.6B
|
| Net Income |
$17.9B $16.3B – $18.7B
|
$18.8B $17.9B – $19.4B
|
$24.0B $22.9B – $24.9B
|
$26.7B $25.5B – $27.6B
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 28, 2026 5:24am (just now)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +9.4% | +0.0% | +12.2% | -1.4% |
| Gross Profit Growth | +5.6% | +2.9% | +13.3% | -1.0% |
| Operating Income Growth | +3.6% | +6.5% | +15.8% | +2.4% |
| Net Income Growth | +14.1% | +0.3% | -0.4% | +7.4% |
| EBITDA Growth | +10.0% | +5.1% | +19.5% | -0.1% |
Insider Trading (Recent)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-05-04 | Derbli de Carvalho Joao Coelho Rua | 0.00 | $0.00 | $0 | |
| 2026-05-04 | Derbli de Carvalho Joao Coelho Rua | 38,843.00 | $0.00 | $0 | |
| 2021-12-01 | Derbli de Carvalho Joao Coelho Rua | 46,754.00 | $3.46 | $161,769 | |
| 2022-12-01 | Derbli de Carvalho Joao Coelho Rua | 142,176.00 | $4.15 | $590,030 | |
| 2023-12-03 | Derbli de Carvalho Joao Coelho Rua | 117,937.00 | $3.41 | $402,165 | |
| 2024-12-02 | Derbli de Carvalho Joao Coelho Rua | 67,371.00 | $3.64 | $245,230 | |
| 2026-05-05 | Zagman Paulo Andre | S-Sale | 136,250.00 | $3.41 | $464,613 |
| 2026-03-27 | Cavalcanti de Lacerda Eduardo Braga | S-Sale | 152,386.00 | $2.85 | $434,300 |
| 2026-03-30 | Klutzenschell Lisboa Carlos Eduardo | A-Award | 205,372.00 | $3.11 | $638,707 |
| 2026-03-30 | Malik Parente Guilherme | A-Award | 8,455.00 | $3.11 | $26,295 |
| 2026-03-18 | Malik Parente Guilherme | 20,677.00 | $0.00 | $0 | |
| 2026-03-30 | Duarte Valdecir | A-Award | 38,074.00 | $3.11 | $118,410 |
| 2026-03-30 | Cavalcanti de Lacerda Eduardo Braga | A-Award | 30,431.00 | $3.11 | $94,640 |
| 2026-03-30 | Crippa Prado Carla Smith de Vasconcellos | A-Award | 11,261.00 | $3.11 | $35,022 |
| 2026-03-30 | Parolari Guilherme Fleury de Figueiredo Ferraz | A-Award | 44,714.00 | $3.11 | $139,061 |
| 2026-03-30 | Zagman Paulo Andre | A-Award | 34,714.00 | $3.11 | $107,961 |
| 2026-03-24 | Malik Parente Guilherme | S-Sale | 20,971.00 | $2.76 | $57,880 |
| 2026-03-18 | Tadeu Almeida Cabral de Soares Ricardo | 0.00 | $0.00 | $0 | |
| 2026-03-18 | Zagman Paulo Andre | 0.00 | $0.00 | $0 | |
| 2026-03-18 | Zagman Paulo Andre | 116,901.00 | $0.00 | $0 |
Dividend History (Last 20)
Last updated: Jun 28, 2026 5:24am (just now)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-06-24 | $0.01 | 2026-05-12 | 2026-06-24 | 2027-01-11 |
| 2025-08-11 | $0.02 | 2025-07-31 | 2025-08-11 | 2025-10-14 |
| 2025-05-19 | $0.02 | 2025-05-08 | 2025-05-19 | 2025-07-17 |
| 2024-12-23 | $0.11 | 2024-12-12 | 2024-12-23 | 2025-01-17 |
| 2023-12-22 | $0.15 | 2023-12-13 | 2023-12-26 | 2024-01-05 |
| 2022-12-20 | $0.14 | 2022-12-09 | 2022-12-21 | 2023-01-05 |
| 2021-12-20 | $0.11 | 2021-12-10 | 2021-12-21 | 2022-01-06 |
| 2020-12-18 | $0.08 | 2020-12-10 | 2020-12-21 | 2021-01-11 |
| 2019-12-20 | $0.12 | 2019-12-04 | 2019-12-23 | 2020-01-07 |
| 2018-12-19 | $0.08 | 2018-12-05 | 2018-12-20 | 2019-01-07 |
| 2018-06-18 | $0.04 | 2018-05-25 | 2018-06-19 | 2018-08-06 |
| 2018-02-01 | $0.02 | 2018-01-03 | 2018-02-02 | 2018-03-05 |
| 2017-12-19 | $0.10 | 2017-12-06 | 2017-12-20 | 2018-01-08 |
| 2017-06-26 | $0.05 | 2017-05-31 | 2017-06-28 | 2017-07-24 |
| 2016-12-22 | $0.07 | 2016-12-06 | 2016-12-27 | 2017-01-05 |
| 2016-11-01 | $0.05 | 2016-10-25 | 2016-11-03 | 2016-12-05 |
| 2016-02-01 | $0.03 | 2016-02-03 | 2016-03-07 | |
| 2015-12-22 | $0.04 | 2015-12-24 | 2016-01-07 | |
| 2015-09-09 | $0.04 | 2015-08-28 | 2015-09-11 | 2015-10-08 |
| 2015-06-02 | $0.03 | 2015-06-04 | 2015-07-09 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for ABEV — it's generated by the pipeline (
market-narrative step).
No community reviews yet for ABEV.
Be the first — hit How to Contribute, have any AI review this page, and paste its take back here.
My Notes
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30