AMBEV SA

ABEV NYSE Consumer Defensive

$2.78

Jan 23, 2026

Mkt Cap: $43.8B

ROC: N/A EY: 53.8%

Price History

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

Income Statement

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Revenue	46.7B	45.6B	47.9B	50.2B	52.0B	58.4B	72.9B	79.7B	79.7B	89.5B
Cost of Revenue	16.1B	16.7B	18.0B	19.2B	21.7B	27.1B	35.7B	40.4B	39.3B	43.6B
Gross Profit	30.7B	28.9B	29.9B	31.0B	30.3B	31.3B	37.2B	39.3B	40.4B	45.8B
Operating Expenses	11.5B	13.0B	13.3B	13.8B	13.9B	14.9B	19.7B	21.5B	21.4B	23.9B
Operating Income	19.1B	16.0B	16.6B	17.2B	16.5B	16.4B	17.5B	17.8B	19.0B	21.9B
Interest Expense	2.3B	3.7B	4.4B	4.7B	4.7B	5.4B	5.4B	7.1B	5.1B	4.5B
Pre-Tax Income	16.1B	12.9B	12.3B	12.8B	12.5B	13.1B	13.3B	13.8B	14.6B	19.1B
Income Tax	3.6B	315.0M	5.0B	1.8B	754.7M	1.8B	636.6M	-655.6M	75.5M	4.6B
Net Income	12.4B	12.5B	7.3B	11.0B	11.8B	11.4B	12.7B	14.5B	14.5B	14.4B
EPS (Basic)	0.79	0.80	0.46	0.70	0.75	0.72	0.81	0.92	0.92	0.92
EPS (Diluted)	0.79	0.79	0.46	0.69	0.74	0.72	0.80	0.91	0.92	0.91
Shares Outstanding	15.7B	15.7B	15.7B	15.7B	15.7B	15.7B	15.7B	15.7B	15.8B	15.8B

Years 18 - 27 of 27

Balance Sheet

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Cash & Equivalents	13.6B	7.9B	10.4B	11.5B	11.9B	17.1B	16.6B	14.9B	16.1B	28.6B
Short-term Investments	215.1M	282.8M	11.9M	13.4M	14.6M	1.7B	1.9B	454.5M	277.2M	1.2B
Accounts Receivable	4.2B	4.4B	4.4B	4.9B	4.5B	4.3B	4.8B	5.3B	5.7B	6.3B
Inventory	4.3B	4.3B	4.3B	5.4B	6.0B	7.6B	11.0B	12.9B	9.6B	11.7B
Total Current Assets	28.3B	23.9B	24.4B	25.3B	27.6B	35.3B	38.6B	37.8B	36.6B	54.2B
Property & Equipment	19.1B	19.2B	20.7B	21.6B	22.6B	24.8B	29.2B	30.1B	26.6B	30.2B
Goodwill & Intangibles	36.0B	35.8B	36.1B	40.1B	41.3B	47.6B	51.1B	49.8B	48.0B	56.9B
Total Assets	90.2B	83.8B	88.4B	95.7B	101.7B	125.2B	138.6B	138.0B	132.6B	162.5B
Accounts Payable	12.5B	12.8B	13.8B	15.0B	16.3B	22.4B	27.1B	26.3B	23.5B	25.6B
Short-term Debt	1.3B	3.6B	1.7B	1.9B	653.1M	2.7B	877.6M	1.1B	1.3B	1.3B
Total Current Liabilities	30.1B	28.8B	29.1B	25.2B	25.0B	33.5B	38.9B	40.5B	41.0B	49.4B
Long-term Debt	2.3B	1.8B	2.8B	2.2B	2.4B	2.1B	2.3B	2.8B	2.2B	2.2B
Total Liabilities	39.8B	37.2B	40.8B	38.3B	39.2B	50.0B	54.6B	54.6B	52.5B	62.9B
Total Equity	48.3B	44.8B	45.6B	56.2B	61.3B	73.8B	82.6B	82.0B	79.0B	98.6B
Total Liab. & Equity	-	-	-	-	-	-	-	-	-	-

Years 18 - 27 of 27

Cash Flow Statement

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income	12.4B	12.5B	7.3B	11.0B	11.8B	11.4B	12.7B	14.5B	14.5B	14.4B
Depreciation & Amort.	3.1B	3.5B	4.0B	4.4B	4.7B	5.2B	5.4B	6.0B	6.4B	7.1B
Operating Cash Flow	23.6B	12.3B	18.3B	18.3B	18.4B	18.9B	22.9B	20.6B	24.7B	26.1B
Capital Expenditures	-5.2B	-4.0B	-3.1B	-3.5B	-4.9B	-4.6B	-7.4B	-6.4B	-5.8B	-4.6B
Acquisitions	-1.1B	-1.8B	-333.3M	-133.4M	107.3M	-431.5M	-133.3M	-33.0M	-52.8M	10.3M
Investing Cash Flow	-6.0B	-5.9B	-3.1B	-3.7B	-4.8B	-6.8B	-7.7B	-5.0B	-5.8B	-5.5B
Dividends Paid	-11.5B	-10.3B	-8.8B	-8.8B	-7.9B	-6.9B	-11.1B	-12.2B	-11.9B	-4.1B
Share Repurchases	-814.3M	400.0K	-38.6M	13.5M	-19.3M	-7.4M	-35.1M	-30.3M	-104.5M	-450.1M
Debt Issued/Repaid	-696.5M	1.9B	-2.9B	-642.1M	-1.9B	1.2B	-2.8B	-810.0M	-1.4B	-1.4B
Financing Cash Flow	-15.3B	-11.6B	-13.3B	-13.7B	-12.3B	-8.6B	-16.0B	-16.3B	-16.1B	-10.4B
Free Cash Flow	18.4B	8.3B	15.2B	14.9B	13.5B	14.3B	15.5B	14.2B	18.9B	21.5B
Net Change in Cash	2.3B	-5.2B	1.9B	1.0B	1.3B	3.5B	-875.7M	-699.9M	2.8B	10.3B

Years 18 - 27 of 27