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ABEV · NYSE · United States · Beverages
In shortAMBEV S.A. is profitable, generates cash and holds more cash than debt, with revenue shrinking (−2.1% last year).
Financial health
Solid
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 17.8% | 76/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 11.8% | 67/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 16.6% | 83/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 20.2% | 100/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 0.96× | 14/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.04× | 100/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | Net cash | 100/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | 5.29× | 36/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | – | n/a |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 15.1% | 80/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | 1.28× | 100/100 |
| Years with positive free cash flow (last 5) | 5 of 5 | 100/100 |
Weight in the score: 20%
| Profitable years (last 5) | 5 of 5 | 100/100 |
|---|---|---|
| Years of revenue decline (last 5) | 2 of 5 | 33/100 |
| Revenue growth volatility | 13.7% | 60/100 |
| Operating margin volatility | 1.3% | 97/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 1.4% | 25/100 |
|---|---|---|
| EPS growth, 3-year average | 2.7% | 39/100 |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
BRL millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 110,163 | 125,907 | 120,118 | 134,131 | 131,353 |
| Cost of revenue | 35,660 | 40,422 | 39,292 | 43,615 | 42,864 |
| Gross profit | 37,195 | 39,287 | 40,445 | 45,838 | 45,378 |
| Operating income | 17,080 | 17,688 | 18,831 | 21,802 | 23,318 |
| Interest expense | 5,428 | 7,141 | 4,919 | 4,028 | 4,411 |
| Pre-tax income | 13,759 | 14,236 | 15,036 | 19,487 | 19,422 |
| Income tax | (637) | 656 | (76) | – | – |
| Net income | 12,671 | 14,458 | 14,502 | 14,437 | 15,503 |
| Diluted EPS | BRL0.80 | BRL0.91 | BRL0.92 | BRL0.91 | BRL0.99 |
| Diluted shares (millions) | 15,858 | 15,849 | 15,839 | 15,815 | 15,684 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
Not computed: a required balance-sheet item is missing.
7/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Dec 31, 2025 · Data updated Mar 3, 2026