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Investlytic score: 3/5 criteria met. Data as of 01/11/2026.
- ❌ Price trend failed
- ✅ Growth passed
- ✅ Debt passed
- ✅ P/E passed
- ❌ Correction failed
Price trend
Overall trend (8 years): insufficient progression (less than x1.5).
Price change 2018 → 2019: 18.88%
Price change 2019 → 2020: -34.33%
Price change 2020 → 2021: -8.50%
Price change 2021 → 2022: -2.86%
Price change 2022 → 2023: 2.94%
Price change 2023 → 2024: -33.93%
Price change 2024 → 2025: 33.51%
Price change 2025 → 2026: 7.69%
Price change 2026 (year to date): 7.69%
Financial growth
Revenue CAGR (8 years): 8.38%
Earnings CAGR (8 years): 5.03%
Growth status: positive trend (>1%/yr) in revenue and earnings.
Debt
Debt-to-equity ratio: 0.06
Debt/equity < 0.5 (maximum threshold).
P/E (Price/Earnings)
P/E ratio: 14.78
P/E < 25.0 (maximum threshold).
Correction (6 months)
Current correction: 22.45% from the high over 6 months.
Excessive correction (> 20.0%).
Criteria of the Investlytic model
- / 5Free with the Investlytic logo. Paste this line into your page: options.
<script src="https://investlytic.co/encart.js" data-symbole="ABEV" data-lang="en"></script>Price trend
Price & trend
Interactive chart →💰 Dividend
Dividend ranking →⚖️ Comparison with the market
All stocks →| Stock | P/E | Dette/FP | Revenue growth | Rating |
|---|---|---|---|---|
| Ambev S.A. | 14.8 | 0.06 | +8.7 % | 🔒 |
| Danone S.A. | 21.6 | 0.89 | +3.2 % | – |
| Constellation Brands, Inc. | 11.3 | 1.76 | +6.5 % | – |
| Pernod Ricard S.A. | 14.2 | 0.83 | +1.8 % | – |
| Unilever PLC | 21.8 | 1.91 | +0.9 % | – |
Data from the Investlytic screener. The rating of the stock being viewed is reserved for members.
Detailed analysis · Price trend
-
Revenues & profits
Revenue and net income
Financial indicators
Annual financial statements
| Fiscal year | Revenue | Net income | Net margin | EPS | Revenue growth |
|---|
Key reported figures
Revenue, net income and net margin reported by Ambev S.A. over the latest fiscal years.
| Fiscal year | Revenue | Net income | Net margin | Revenue growth |
|---|---|---|---|---|
| 2020 | 10.6 bn | 2.1 bn | 19.5 % | n/a |
| 2021 | 13.3 bn | 2.3 bn | 17.4 % | +24.8 % |
| 2022 | 14.5 bn | 2.6 bn | 18.1 % | +9.4 % |
| 2023 | 14.5 bn | 2.6 bn | 18.2 % | +0.0 % |
| 2024 | 16.3 bn | 2.6 bn | 16.1 % | +12.2 % |
| 2025 | 16.1 bn | 2.8 bn | 17.6 % | -1.4 % |
Amounts converted to USD. Source: published annual accounts, collected on 06/11/2026.
Accounts and financial health
Balance sheet and cash flow published by Ambev S.A. over the last fiscal years, strength scores and valuation by discounted cash flow (DCF).
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash and investments | 18.5 bn | 15.4 bn | 16.3 bn | 29.8 bn | 20.3 bn |
| Total Debt | 3.1 bn | 3.8 bn | 3.5 bn | 3.5 bn | 5.3 bn |
| Net Debt | -13.5 bn | -11.1 bn | -12.6 bn | -25.1 bn | -13.3 bn |
| Equity | 82.6 bn | 82.0 bn | 79.0 bn | 98.6 bn | 87.9 bn |
| Total assets | 139 bn | 138 bn | 133 bn | 163 bn | 148 bn |
| Operating cash flow | 22.9 bn | 20.6 bn | 24.7 bn | 26.1 bn | 24.5 bn |
| Investments (capex) | 7.7 bn | 6.5 bn | 6.0 bn | 4.7 bn | 4.6 bn |
| Free cash-flow | 15.2 bn | 14.1 bn | 18.7 bn | 21.3 bn | 19.9 bn |
| Share buybacks | 44.2 m | 54.1 m | 119 m | 468 m | 1.9 bn |
| Dividends paid | 11.1 bn | 12.2 bn | 11.9 bn | 4.1 bn | 20.5 bn |
Amounts in BRL, currency of the published accounts.
Trailing 12-month ratios
Altman Z: default risk estimated from the balance sheet and earnings. Piotroski: 9 tests on profitability, debt and efficiency. DCF: estimated value from discounted future cash flows, a model and not a forecast. Source: annual accounts published by the company, data as of 09/11/2026.
Valuation and competitors
Ambev S.A. compared with its sector on the same exchange and with its main competitors.
Direct competitors
| Company | Market cap (USD) | P/E | Net margin |
|---|---|---|---|
| Ambev S.A. | 41.9 bn | 14.8 | 17.6 % |
| Compañía Cervecerías Unidas S.A. CCU | 1.9 bn | 17.1 | 4.0 % |
| Constellation Brands, Inc. STZ | 22.9 bn | 11.3 | -0.8 % |
| Molson Coors Beverage Company TAP | 7.5 bn | 7.9 | -19.2 % |
| Fomento Económico Mexicano, S.A.B. de C.V. FMX | 43.0 bn | 40.2 | 2.3 % |
| Molson Coors Canada Inc. MXGBF | 9.0 bn | n/a | -19.2 % |
| Asahi Group Holdings, Ltd. ASBRF | 14.6 bn | 19.5 | 4.2 % |
| Sector median (NYSE) | 22.3 |
Trailing 12-month P/E. Sector: median of companies in the same sector listed on the same exchange, collected on . Competitors: comparable companies named by the data provider.
Analyst consensus and forecasts
What the financial analysts covering Ambev S.A. publish: ratings, price targets and earnings forecasts.
Breakdown of ratings
Average target over the last 3 months: 2.85 USD (1 targets).
Analyst forecasts
| Fiscal year | Revenue | Net income | Expected EPS (range) | P/E on this EPS | Analysts |
|---|---|---|---|---|---|
| 2026 | 89.5 bn | 16.3 bn | 1.04 (0.99 / 1.14) | n/a | 5 |
| 2027 | 94.3 bn | 17.1 bn | 1.09 (0.93 / 1.19) | n/a | 5 |
| 2028 | 100 bn | 18.6 bn | 1.19 (1.13 / 1.26) | n/a | 2 |
Amounts in BRL, the reporting currency.
Track record against expectations: reported EPS above consensus 2 times over the last 12 releases.
Rating changes (12 months)
| Date | Firm | Before | After |
|---|---|---|---|
| 30/10/2026 | Barclays | Equal Weight | Equal Weight |
| 07/10/2026 | B of A Securities | Neutral | Underperform |
| 15/07/2026 | Scotiabank | Sector Outperform | Sector Perform |
| 14/05/2026 | UBS | Sell | Sell |
| 06/05/2026 | Barclays | Equal Weight | Equal Weight |
Source: ratings and forecasts published by analysts, collected on 07/11/2026. An analyst rating or target is not a guarantee.
Dividends and earnings
Ambev S.A.: dividend history, last distributions, stock splits and earnings releases.
Annual dividend per share (USD), adjusted for splits. Light bar: current year, incomplete. Red bar: lower than the previous year.
Latest ex-dividend dates
| Ex-dividend | Amount | Payment |
|---|---|---|
| 23/09/2026 | 0.0140 USD | 11/01/2027 |
| 24/06/2026 | 0.0092 USD | 11/01/2027 |
| 22/12/2025 | 0.0978 USD | 09/01/2026 |
| 11/08/2025 | 0.0240 USD | 14/10/2025 |
| 19/05/2025 | 0.0236 USD | 17/07/2025 |
| 18/03/2025 | 0.0224 USD | 14/04/2025 |
| 23/12/2024 | 0.108 USD | 17/01/2025 |
| 22/12/2023 | 0.151 USD | 05/01/2024 |
Earnings releases
| Date | Published EPS | Expected EPS | Surprise |
|---|---|---|---|
| 29/10/2026 | 0.05 | 0.05 | 0.0 % |
| 30/07/2026 | 0.04 | 0.04 | 0.0 % |
| 05/05/2026 | 0.05 | 0.05 | 0.0 % |
| 12/02/2026 | 0.05 | 0.05 | 0.0 % |
| 30/10/2025 | 0.04 | 0.04 | 0.0 % |
| 31/07/2025 | 0.03 | 0.03 | 0.0 % |
Stock splits
| Date | Operation |
|---|---|
| 11/11/2013 | split: 5 shares for 1 |
| 28/12/2010 | split: 5 shares for 1 |
| 09/06/2005 | split: 6 shares for 5 |
Factual data: ex-dividend history and earnings calendar, as of 05/11/2026. A past dividend does not guarantee the next one.
Who owns the stock
Free float, institutional investors, large funds, executives and elected officials: declared positions in Ambev S.A.
Sources: 13F filings (quarter shown), executives' Form 4 filings and US Congress members' disclosures, collected on 01/11/2026. Detailed disclosure obligations mainly apply to companies listed in the United States.
PEA and practical information
Rule applied: the French PEA accepts shares of companies headquartered in the European Union or the European Economic Area and subject to corporate income tax; ADRs and tax-exempt property companies (SIIC) are excluded. The institution holding the PEA confirms eligibility.
Frequently asked questions about Ambev S.A.
What is the Ambev S.A. share price?
Latest recorded price: 2.79 USD on 06/11/2026, for a market cap of 43.2 bn USD.
What is the revenue of Ambev S.A.?
16.1 bn USD for fiscal year 2025, with net income of 2.8 bn USD (net margin 17.6 %).
Does Ambev S.A. pay a dividend?
Yes. Latest dividend: 0.0140 USD per share, ex-dividend on 23/09/2026. Over 12 months: 0.121 USD.
When does Ambev S.A. report its next earnings?
The next release is expected on 11/02/2027. EPS expected by analysts: 0.06.
What do analysts say about Ambev S.A.?
Out of 15 analysts: 2 buy or strong buy, 7 hold, 6 sell or strong sell. Average price target: 3.18 USD, i.e. +19.5 % from the share price.
What is the P/E ratio of Ambev S.A.?
Trailing 12-month P/E of 14.7, against 22.3 for the sector median on the same exchange (10-year median: 24.9).
Is Ambev S.A. stock eligible for the French PEA?
No: this listing is a depositary receipt (ADR), excluded from the PEA.
How many employees does Ambev S.A. have?
43,000 full-time employees according to the latest published profile.
Who runs Ambev S.A.?
Carlos Eduardo Klutzenschell Lisboa is the company's chief executive.