AMBEV SA

ABEV NYSE Consumer Defensive

$2.97

Apr 1, 2026

Mkt Cap: $49.0B

ROC: N/A EY: 48.1%

Price History

Avg P/E: 3.6 Avg P/FCF: 4.8

Income Statement

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Revenue	45.6B	47.9B	50.2B	52.0B	58.4B	72.9B	79.7B	79.7B	89.5B	88.2B
Cost of Revenue	16.7B	18.0B	19.2B	21.7B	27.1B	35.7B	40.4B	39.3B	43.6B	42.9B
Gross Profit	28.9B	29.9B	31.0B	30.3B	31.3B	37.2B	39.3B	40.4B	45.8B	45.4B
Operating Expenses	13.0B	13.3B	13.8B	13.9B	14.9B	19.7B	21.5B	21.4B	23.9B	22.7B
Operating Income	16.0B	16.6B	17.2B	16.5B	16.4B	17.5B	17.8B	19.0B	21.9B	22.7B
Interest Expense	3.7B	4.4B	4.7B	4.7B	5.4B	5.4B	7.1B	5.1B	4.5B	4.4B
Pre-Tax Income	12.9B	12.3B	12.8B	12.5B	13.1B	13.3B	13.8B	14.6B	19.1B	18.9B
Income Tax	315.0M	5.0B	1.8B	754.7M	1.8B	636.6M	-655.6M	75.5M	4.6B	3.4B
Net Income	12.5B	7.3B	11.0B	11.8B	11.4B	12.7B	14.5B	14.5B	14.4B	15.5B
EPS (Basic)	0.80	0.46	0.70	0.75	0.72	0.81	0.92	0.92	0.92	0.99
EPS (Diluted)	0.79	0.46	0.69	0.74	0.72	0.80	0.91	0.92	0.91	0.99
Shares Outstanding	15.7B	15.7B	15.7B	15.7B	15.7B	15.7B	15.7B	15.8B	15.8B	15.8B

Years 19 - 28 of 28

Balance Sheet

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Cash & Equivalents	7.9B	10.4B	11.5B	11.9B	17.1B	16.6B	14.9B	16.1B	28.6B	18.6B
Short-term Investments	282.8M	11.9M	13.4M	14.6M	1.7B	1.9B	454.5M	277.2M	1.2B	1.7B
Accounts Receivable	4.4B	4.4B	4.9B	4.5B	4.3B	4.8B	5.3B	5.7B	6.3B	6.4B
Inventory	4.3B	4.3B	5.4B	6.0B	7.6B	11.0B	12.9B	9.6B	11.7B	10.5B
Total Current Assets	23.9B	24.4B	25.3B	27.6B	35.3B	38.6B	37.8B	36.6B	54.2B	43.9B
Property & Equipment	19.2B	20.7B	21.6B	22.6B	24.8B	29.2B	30.1B	26.6B	30.2B	27.6B
Goodwill & Intangibles	35.8B	36.1B	40.1B	41.3B	47.6B	51.1B	49.8B	48.0B	56.9B	52.6B
Total Assets	83.8B	88.4B	95.7B	101.7B	125.2B	138.6B	138.0B	132.6B	162.5B	145.1B
Accounts Payable	12.8B	13.8B	15.0B	16.3B	22.4B	27.1B	26.3B	23.5B	25.6B	24.1B
Short-term Debt	3.6B	1.7B	1.9B	653.1M	2.7B	877.6M	1.1B	1.3B	1.3B	1.2B
Total Current Liabilities	28.8B	29.1B	25.2B	25.0B	33.5B	38.9B	40.5B	41.0B	49.4B	45.6B
Long-term Debt	1.8B	2.8B	2.2B	2.4B	2.1B	2.3B	2.8B	2.2B	2.2B	2.2B
Total Liabilities	37.2B	40.8B	38.3B	39.2B	50.0B	54.6B	54.6B	52.5B	62.9B	56.3B
Total Equity	44.8B	45.6B	56.2B	61.3B	73.8B	82.6B	82.0B	79.0B	98.6B	87.9B
Total Liab. & Equity	-	-	-	-	-	-	-	-	-	-

Years 19 - 28 of 28

Cash Flow Statement

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Net Income	12.5B	7.3B	11.0B	11.8B	11.4B	12.7B	14.5B	14.5B	14.4B	15.5B
Depreciation & Amort.	3.5B	4.0B	4.4B	4.7B	5.2B	5.4B	6.0B	6.4B	7.1B	6.8B
Operating Cash Flow	12.3B	18.3B	18.3B	18.4B	18.9B	22.9B	20.6B	24.7B	26.1B	24.5B
Capital Expenditures	-4.0B	-3.1B	-3.5B	-4.9B	-4.6B	-7.4B	-6.4B	-5.8B	-4.6B	-4.4B
Acquisitions	-1.8B	-333.3M	-133.4M	107.3M	-431.5M	-133.3M	-33.0M	-52.8M	10.3M	-91.6M
Investing Cash Flow	-5.9B	-3.1B	-3.7B	-4.8B	-6.8B	-7.7B	-5.0B	-5.8B	-5.5B	-5.0B
Dividends Paid	-10.3B	-8.8B	-8.8B	-7.9B	-6.9B	-11.1B	-12.2B	-11.9B	-4.1B	-20.5B
Share Repurchases	400.0K	-38.6M	13.5M	-19.3M	-7.4M	-35.1M	-30.3M	-104.5M	-450.1M	-1.9B
Debt Issued/Repaid	1.9B	-2.9B	-642.1M	-1.9B	1.2B	-2.8B	-810.0M	-1.4B	-1.4B	-1.3B
Financing Cash Flow	-11.6B	-13.3B	-13.7B	-12.3B	-8.6B	-16.0B	-16.3B	-16.1B	-10.4B	-26.8B
Free Cash Flow	8.3B	15.2B	14.9B	13.5B	14.3B	15.5B	14.2B	18.9B	21.5B	20.0B
Net Change in Cash	-5.2B	1.9B	1.0B	1.3B	3.5B	-875.7M	-699.9M	2.8B	10.3B	-7.3B

Years 19 - 28 of 28