AMBEV SA-ADR (ABEV) Fundamental Analysis & Valuation

NYSE:ABEV • US02319V1035

2.895 USD
-0.08 (-2.85%)
Last: Mar 5, 2026, 11:20 AM
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This ABEV fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

6

Overall ABEV gets a fundamental rating of 6 out of 10. We evaluated ABEV against 33 industry peers in the Beverages industry. ABEV has outstanding health and profitabily ratings, belonging to the best of the industry. This is a solid base for any company. ABEV has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

8

1. ABEV Profitability Analysis

1.1 Basic Checks

  • In the past year ABEV was profitable.
  • ABEV had a positive operating cash flow in the past year.
  • ABEV had positive earnings in each of the past 5 years.
  • 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

  • ABEV has a better Return On Assets (10.69%) than 81.82% of its industry peers.
  • 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.
  • ABEV's Return On Invested Capital of 18.06% is amongst the best of the industry. ABEV outperforms 87.88% of its industry peers.
  • 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's Profit Margin of 17.57% is amongst the best of the industry. ABEV outperforms 84.85% of its industry peers.
  • ABEV's Profit Margin has declined in the last couple of years.
  • ABEV's Operating Margin of 25.70% is amongst the best of the industry. ABEV outperforms 81.82% of its industry peers.
  • In the last couple of years the Operating Margin of ABEV has declined.
  • Looking at the Gross Margin, with a value of 51.42%, ABEV is in the better half of the industry, outperforming 60.61% of the companies in the same industry.
  • 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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ROAROEROICOperating and Profit MarginShow most profitable peers

7

2. ABEV Health Analysis

2.1 Basic Checks

  • ABEV has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
  • The number of shares outstanding for ABEV has been reduced compared to 1 year ago.
  • ABEV has less shares outstanding than it did 5 years ago.
  • ABEV has a worse debt/assets ratio than last year.
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 4.21. This indicates that ABEV is financially healthy and has little risk of bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 4.21, ABEV belongs to the top of the industry, outperforming 81.82% of the companies in the same industry.
  • The Debt to FCF ratio of ABEV is 0.17, which is an excellent value as it means it would take ABEV, only 0.17 years of fcf income to pay off all of its debts.
  • ABEV has a better Debt to FCF ratio (0.17) than 87.88% of its industry peers.
  • ABEV has a Debt/Equity ratio of 0.03. This is a healthy value indicating a solid balance between debt and equity.
  • 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 4.21
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.
  • With a Quick ratio value of 0.73, ABEV perfoms like the industry average, outperforming 51.52% of the companies in the same industry.
  • The current and quick ratio evaluation for ABEV is rather negative, while it does have 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.
  • ABEV shows a decrease in Revenue. In the last year, the revenue decreased by -1.35%.
  • 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

  • The Earnings Per Share is expected to grow by 11.44% on average over the next years. This is quite good.
  • The Revenue is expected to grow by 5.68% on average over the next years.
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.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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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4. ABEV Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 16.08, which indicates a correct valuation of ABEV.
  • Based on the Price/Earnings ratio, ABEV is valued a bit cheaper than the industry average as 66.67% of the companies are valued more expensively.
  • ABEV's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.03.
  • Based on the Price/Forward Earnings ratio of 14.84, the valuation of ABEV can be described as correct.
  • 66.67% of the companies in the same industry are more expensive than ABEV, based on the Price/Forward Earnings ratio.
  • The average S&P500 Price/Forward Earnings ratio is at 25.11. ABEV is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 16.08
Fwd PE 14.84
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 11.88
EV/EBITDA 7.6
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.
  • The excellent profitability rating of ABEV may justify a higher PE ratio.
  • A more expensive valuation may be justified as ABEV's earnings are expected to grow with 12.71% in the coming years.
PEG (NY)1.64
PEG (5Y)3.4
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

  • On average, the dividend of ABEV grows each year by 24.56%, which is quite nice.
  • 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.
  • The dividend of ABEV is growing, but the earnings are growing slower. 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 (3/5/2026, 11:20:10 AM)

2.895

-0.08 (-2.85%)

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 Cap45.21B
Revenue(TTM)88.24B
Net Income(TTM)15.50B
Analysts51
Price Target2.71 (-6.39%)
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 16.08
Fwd PE 14.84
P/S 2.67
P/FCF 11.88
P/OCF 9.65
P/B 2.68
P/tB 6.68
EV/EBITDA 7.6
EPS(TTM)0.18
EY6.22%
EPS(NY)0.2
Fwd EY6.74%
FCF(TTM)0.24
FCFY8.42%
OCF(TTM)0.3
OCFY10.36%
SpS1.08
BVpS1.08
TBVpS0.43
PEG (NY)1.64
PEG (5Y)3.4
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 4.21
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%.