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ABEV3 · B3 · Brazil · Bebidas e Fumo
In shortAmbev S.A. is profitable, generates cash and holds more cash than debt, with revenue stable (−1.4% last year).
Financial health
Strong
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. | 26.5% | 100/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 17.6% | 90/100 |
| 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. | 21.1% | 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. | 3.77× | 22/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 3.86 | 71/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 22.5% | 100/100 |
|---|---|---|
| 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) | 1 of 5 | 67/100 |
| Revenue growth volatility | 10.6% | 72/100 |
| Operating margin volatility | 1.7% | 94/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 3.4% | 36/100 |
|---|---|---|
| EPS growth, 3-year average | 2.6% | 38/100 |
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.
1 older year 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 | 72,854 | 79,709 | 79,737 | 89,453 | 88,242 |
| 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 |
| Selling, general & admin | 21,846 | 23,969 | 23,437 | 26,392 | 25,140 |
| Operating income | 16,965 | 17,659 | 18,646 | 21,806 | 23,423 |
| Interest expense | 5,428 | 7,892 | 6,280 | 4,924 | 6,218 |
| Pre-tax income | 13,759 | 14,236 | 15,036 | 19,487 | 19,422 |
| Income tax | 637 | 656 | 75 | 4,640 | 3,433 |
| Net income | 12,671 | 14,458 | 14,502 | 14,437 | 15,503 |
| Diluted EPS | BRL0.81 | BRL0.92 | BRL0.92 | BRL0.92 | BRL0.99 |
1 older year available with the 10-year history. Essential plan, from €8.25/month →
3.86 Safe zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
6/9
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: CVM (dados.cvm.gov.br). 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 Feb 12, 2026