AMBEV SA-ADR (ABEV) Fundamental Analysis & Valuation

NYSE:ABEV • US02319V1035

2.98 USD
+0.04 (+1.36%)
At close: Mar 4, 2026
2.98 USD
0 (0%)
After Hours: 3/4/2026, 8:07:08 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership News

This ABEV fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

6

Taking everything into account, ABEV scores 6 out of 10 in our fundamental rating. ABEV was compared to 33 industry peers in the Beverages industry. Both the health and profitability get an excellent rating, making ABEV a very profitable company, without any liquidiy or solvency issues. ABEV is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

8

1. ABEV Profitability Analysis

1.1 Basic Checks

  • ABEV had positive earnings in the past year.
  • ABEV had a positive operating cash flow in the past year.
  • Each year in the past 5 years ABEV has been profitable.
  • In the past 5 years ABEV always reported a positive cash flow from operatings.
ABEV Yearly Net Income VS EBIT VS OCF VS FCFABEV Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B 20B 25B

1.2 Ratios

  • With an excellent Return On Assets value of 10.69%, ABEV belongs to the best of the industry, outperforming 81.82% of the companies in the same industry.
  • Looking at the Return On Equity, with a value of 17.63%, ABEV is in the better half of the industry, outperforming 63.64% of the companies in the same industry.
  • Looking at the Return On Invested Capital, with a value of 18.06%, ABEV belongs to the top of the industry, outperforming 87.88% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for ABEV is significantly above the industry average of 11.62%.
  • The last Return On Invested Capital (18.06%) for ABEV is above the 3 year average (16.62%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 10.69%
ROE 17.63%
ROIC 18.06%
ROA(3y)10.17%
ROA(5y)10.02%
ROE(3y)16.88%
ROE(5y)16.72%
ROIC(3y)16.62%
ROIC(5y)15.65%
ABEV Yearly ROA, ROE, ROICABEV Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15 20 25

1.3 Margins

  • ABEV has a Profit Margin of 17.57%. This is amongst the best in the industry. ABEV outperforms 84.85% of its industry peers.
  • ABEV's Profit Margin has declined in the last couple of years.
  • ABEV has a better Operating Margin (25.70%) than 81.82% of its industry peers.
  • In the last couple of years the Operating Margin of ABEV has declined.
  • ABEV has a Gross Margin of 51.42%. This is in the better half of the industry: ABEV outperforms 60.61% of its industry peers.
  • ABEV's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 25.7%
PM (TTM) 17.57%
GM 51.42%
OM growth 3Y4.73%
OM growth 5Y-1.8%
PM growth 3Y-1.06%
PM growth 5Y-2.06%
GM growth 3Y1.42%
GM growth 5Y-0.84%
ABEV Yearly Profit, Operating, Gross MarginsABEV Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60

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7

2. ABEV Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), ABEV is creating some value.
  • ABEV has less shares outstanding than it did 1 year ago.
  • ABEV has less shares outstanding than it did 5 years ago.
  • The debt/assets ratio for ABEV is higher compared to a year ago.
ABEV Yearly Shares OutstandingABEV Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B
ABEV Yearly Total Debt VS Total AssetsABEV Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50B 100B 150B

2.2 Solvency

  • ABEV has an Altman-Z score of 4.19. This indicates that ABEV is financially healthy and has little risk of bankruptcy at the moment.
  • ABEV's Altman-Z score of 4.19 is amongst the best of the industry. ABEV outperforms 81.82% of its industry peers.
  • ABEV has a debt to FCF ratio of 0.17. This is a very positive value and a sign of high solvency as it would only need 0.17 years to pay back of all of its debts.
  • ABEV has a Debt to FCF ratio of 0.17. This is amongst the best in the industry. ABEV outperforms 87.88% of its industry peers.
  • A Debt/Equity ratio of 0.03 indicates that ABEV is not too dependend on debt financing.
  • ABEV has a better Debt to Equity ratio (0.03) than 81.82% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF 0.17
Altman-Z 4.19
ROIC/WACC1
WACC17.99%
ABEV Yearly LT Debt VS Equity VS FCFABEV Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20B 40B 60B 80B

2.3 Liquidity

  • A Current Ratio of 0.96 indicates that ABEV may have some problems paying its short term obligations.
  • Looking at the Current ratio, with a value of 0.96, ABEV is doing worse than 66.67% of the companies in the same industry.
  • A Quick Ratio of 0.73 indicates that ABEV may have some problems paying its short term obligations.
  • ABEV's Quick ratio of 0.73 is in line compared to the rest of the industry. ABEV outperforms 51.52% of its industry peers.
  • ABEV does not score too well on the current and quick ratio evaluation. However, as it has excellent solvency and profitability, these ratios do not necessarly indicate liquidity issues and need to be evaluated against the specifics of the business.
Industry RankSector Rank
Current Ratio 0.96
Quick Ratio 0.73
ABEV Yearly Current Assets VS Current LiabilitesABEV Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B 40B 50B

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4

3. ABEV Growth Analysis

3.1 Past

  • ABEV shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 1.65%.
  • The Earnings Per Share has been growing slightly by 4.73% on average over the past years.
  • Looking at the last year, ABEV shows a decrease in Revenue. The Revenue has decreased by -1.35% in the last year.
  • ABEV shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 8.61% yearly.
EPS 1Y (TTM)1.65%
EPS 3Y-0.57%
EPS 5Y4.73%
EPS Q2Q%-9.68%
Revenue 1Y (TTM)-1.35%
Revenue growth 3Y3.45%
Revenue growth 5Y8.61%
Sales Q2Q%-8.24%

3.2 Future

  • Based on estimates for the next years, ABEV will show a quite strong growth in Earnings Per Share. The EPS will grow by 11.44% on average per year.
  • Based on estimates for the next years, ABEV will show a small growth in Revenue. The Revenue will grow by 5.68% on average per year.
EPS Next Y9.81%
EPS Next 2Y9.08%
EPS Next 3Y12.71%
EPS Next 5Y11.44%
Revenue Next Year4.2%
Revenue Next 2Y4.72%
Revenue Next 3Y5%
Revenue Next 5Y5.68%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
ABEV Yearly Revenue VS EstimatesABEV Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 20B 40B 60B 80B 100B
ABEV Yearly EPS VS EstimatesABEV Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 0.5 1

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6

4. ABEV Valuation Analysis

4.1 Price/Earnings Ratio

  • ABEV is valuated correctly with a Price/Earnings ratio of 16.56.
  • ABEV's Price/Earnings ratio is a bit cheaper when compared to the industry. ABEV is cheaper than 72.73% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 27.03. ABEV is valued slightly cheaper when compared to this.
  • ABEV is valuated correctly with a Price/Forward Earnings ratio of 15.35.
  • Based on the Price/Forward Earnings ratio, ABEV is valued a bit cheaper than the industry average as 69.70% of the companies are valued more expensively.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 25.11, ABEV is valued a bit cheaper.
Industry RankSector Rank
PE 16.56
Fwd PE 15.35
ABEV Price Earnings VS Forward Price EarningsABEV Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, ABEV is valued cheaper than 90.91% of the companies in the same industry.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of ABEV indicates a rather cheap valuation: ABEV is cheaper than 87.88% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 12.29
EV/EBITDA 7.53
ABEV Per share dataABEV EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0.2 0.4 0.6 0.8 1

4.3 Compensation for Growth

  • ABEV's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • ABEV has an outstanding profitability rating, which may justify a higher PE ratio.
  • ABEV's earnings are expected to grow with 12.71% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.69
PEG (5Y)3.5
EPS Next 2Y9.08%
EPS Next 3Y12.71%

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6

5. ABEV Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 4.23%, ABEV is a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 1.73, ABEV pays a better dividend. On top of this ABEV pays more dividend than 96.97% of the companies listed in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.82, ABEV pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.23%

5.2 History

  • The dividend of ABEV is nicely growing with an annual growth rate of 24.56%!
  • ABEV has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)24.56%
Div Incr Years0
Div Non Decr Years0
ABEV Yearly Dividends per shareABEV Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6 0.8

5.3 Sustainability

  • ABEV pays out 131.99% of its income as dividend. This is not a sustainable payout ratio.
  • ABEV's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP131.99%
EPS Next 2Y9.08%
EPS Next 3Y12.71%
ABEV Yearly Income VS Free CF VS DividendABEV Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B 20B
ABEV Dividend Payout.ABEV Dividend Payout, showing the Payout Ratio.ABEV Dividend Payout.PayoutRetained Earnings

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ABEV Fundamentals: All Metrics, Ratios and Statistics

AMBEV SA-ADR

NYSE:ABEV (3/4/2026, 8:07:08 PM)

After market: 2.98 0 (0%)

2.98

+0.04 (+1.36%)

Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryBeverages
Earnings (Last)02-12
Earnings (Next)05-05
Inst Owners8.7%
Inst Owner Change-11.48%
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap46.54B
Revenue(TTM)88.24B
Net Income(TTM)15.50B
Analysts51
Price Target2.71 (-9.06%)
Short Float %3.75%
Short Ratio6.25
Dividend
Industry RankSector Rank
Dividend Yield 4.23%
Yearly Dividend0.25
Dividend Growth(5Y)24.56%
DP131.99%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)7.53%
Min EPS beat(2)1.5%
Max EPS beat(2)13.57%
EPS beat(4)2
Avg EPS beat(4)0.29%
Min EPS beat(4)-9.56%
Max EPS beat(4)13.57%
EPS beat(8)4
Avg EPS beat(8)-0.77%
EPS beat(12)6
Avg EPS beat(12)0.67%
EPS beat(16)10
Avg EPS beat(16)6.31%
Revenue beat(2)0
Avg Revenue beat(2)-3.37%
Min Revenue beat(2)-5.28%
Max Revenue beat(2)-1.46%
Revenue beat(4)0
Avg Revenue beat(4)-4.69%
Min Revenue beat(4)-8.64%
Max Revenue beat(4)-1.46%
Revenue beat(8)2
Avg Revenue beat(8)-3.04%
Revenue beat(12)2
Avg Revenue beat(12)-4.35%
Revenue beat(16)3
Avg Revenue beat(16)-3.72%
PT rev (1m)8.77%
PT rev (3m)4.18%
EPS NQ rev (1m)1.96%
EPS NQ rev (3m)1.8%
EPS NY rev (1m)-0.16%
EPS NY rev (3m)-1.7%
Revenue NQ rev (1m)0.95%
Revenue NQ rev (3m)1.42%
Revenue NY rev (1m)-1.48%
Revenue NY rev (3m)-1.95%
Valuation
Industry RankSector Rank
PE 16.56
Fwd PE 15.35
P/S 2.77
P/FCF 12.29
P/OCF 9.98
P/B 2.78
P/tB 6.91
EV/EBITDA 7.53
EPS(TTM)0.18
EY6.04%
EPS(NY)0.19
Fwd EY6.51%
FCF(TTM)0.24
FCFY8.14%
OCF(TTM)0.3
OCFY10.02%
SpS1.08
BVpS1.07
TBVpS0.43
PEG (NY)1.69
PEG (5Y)3.5
Graham Number2.09
Profitability
Industry RankSector Rank
ROA 10.69%
ROE 17.63%
ROCE 22.79%
ROIC 18.06%
ROICexc 22.7%
ROICexgc 67.59%
OM 25.7%
PM (TTM) 17.57%
GM 51.42%
FCFM 22.51%
ROA(3y)10.17%
ROA(5y)10.02%
ROE(3y)16.88%
ROE(5y)16.72%
ROIC(3y)16.62%
ROIC(5y)15.65%
ROICexc(3y)21.19%
ROICexc(5y)19.57%
ROICexgc(3y)62.89%
ROICexgc(5y)55.71%
ROCE(3y)20.98%
ROCE(5y)19.75%
ROICexgc growth 3Y15.51%
ROICexgc growth 5Y5.63%
ROICexc growth 3Y9.63%
ROICexc growth 5Y4.93%
OM growth 3Y4.73%
OM growth 5Y-1.8%
PM growth 3Y-1.06%
PM growth 5Y-2.06%
GM growth 3Y1.42%
GM growth 5Y-0.84%
F-Score7
Asset Turnover0.61
Health
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF 0.17
Debt/EBITDA 0.08
Cap/Depr 67.19%
Cap/Sales 5.2%
Interest Coverage 25.57
Cash Conversion 82.86%
Profit Quality 128.1%
Current Ratio 0.96
Quick Ratio 0.73
Altman-Z 4.19
F-Score7
WACC17.99%
ROIC/WACC1
Cap/Depr(3y)75.79%
Cap/Depr(5y)95.86%
Cap/Sales(3y)6.01%
Cap/Sales(5y)7.35%
Profit Quality(3y)134.99%
Profit Quality(5y)124.54%
High Growth Momentum
Growth
EPS 1Y (TTM)1.65%
EPS 3Y-0.57%
EPS 5Y4.73%
EPS Q2Q%-9.68%
EPS Next Y9.81%
EPS Next 2Y9.08%
EPS Next 3Y12.71%
EPS Next 5Y11.44%
Revenue 1Y (TTM)-1.35%
Revenue growth 3Y3.45%
Revenue growth 5Y8.61%
Sales Q2Q%-8.24%
Revenue Next Year4.2%
Revenue Next 2Y4.72%
Revenue Next 3Y5%
Revenue Next 5Y5.68%
EBIT growth 1Y3.52%
EBIT growth 3Y8.34%
EBIT growth 5Y6.66%
EBIT Next Year35.68%
EBIT Next 3Y14.94%
EBIT Next 5Y12.37%
FCF growth 1Y-6.98%
FCF growth 3Y12.07%
FCF growth 5Y6.99%
OCF growth 1Y-6.32%
OCF growth 3Y5.81%
OCF growth 5Y5.33%

AMBEV SA-ADR / ABEV FAQ

What is the ChartMill fundamental rating of AMBEV SA-ADR (ABEV) stock?

ChartMill assigns a fundamental rating of 6 / 10 to ABEV.


Can you provide the valuation status for AMBEV SA-ADR?

ChartMill assigns a valuation rating of 6 / 10 to AMBEV SA-ADR (ABEV). This can be considered as Fairly Valued.


What is the profitability of ABEV stock?

AMBEV SA-ADR (ABEV) has a profitability rating of 8 / 10.


What is the financial health of AMBEV SA-ADR (ABEV) stock?

The financial health rating of AMBEV SA-ADR (ABEV) is 7 / 10.


How sustainable is the dividend of AMBEV SA-ADR (ABEV) stock?

The dividend rating of AMBEV SA-ADR (ABEV) is 6 / 10 and the dividend payout ratio is 131.99%.