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Ambev SA
(NYSE:ABEV)
Ambev SA (ABEV) vs. SPDR S&P 500 ETF (SPY)
Ambev SA Business Overview & Revenue Model
Ambev SA Earnings Call Summary
Ambev SA Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 90.47B | 89.45B | 79.74B | 79.71B | 72.85B | 58.38B |
| Gross Profit | 46.83B | 45.84B | 40.45B | 39.29B | 37.19B | 31.31B |
| EBITDA | 28.74B | 26.72B | 23.46B | 23.08B | 21.36B | 20.77B |
| Net Income | 16.04B | 14.44B | 14.50B | 14.46B | 12.67B | 11.38B |
Balance Sheet | ||||||
| Total Assets | 140.75B | 162.51B | 132.64B | 137.96B | 138.60B | 125.20B |
| Cash, Cash Equivalents and Short-Term Investments | 19.84B | 29.84B | 16.34B | 15.38B | 18.54B | 18.79B |
| Total Debt | 2.90B | 3.45B | 3.50B | 3.85B | 3.13B | 4.79B |
| Total Liabilities | 48.03B | 62.93B | 52.50B | 54.63B | 54.58B | 50.05B |
| Stockholders Equity | 92.03B | 98.64B | 78.97B | 81.96B | 82.64B | 73.82B |
Cash Flow | ||||||
| Free Cash Flow | 20.61B | 21.35B | 18.71B | 14.11B | 15.22B | 14.16B |
| Operating Cash Flow | 25.09B | 26.10B | 24.71B | 20.64B | 22.90B | 18.86B |
| Investing Cash Flow | -4.39B | -5.46B | -5.77B | -5.00B | -7.73B | -6.80B |
| Financing Cash Flow | -21.27B | -10.35B | -16.12B | -16.34B | -16.04B | -8.60B |
Ambev SA Technical Analysis
Ambev SA Risk Analysis
Ambev SA Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $40.48B | 14.17 | 15.97% | 1.79% | -0.68% | 4.29% | |
75 Outperform | $125.82B | 17.73 | 8.97% | 1.91% | -2.06% | 21.03% | |
73 Outperform | $19.31B | 41.72 | 5.48% | 4.74% | 1.44% | -38.87% | |
70 Neutral | $2.43B | 16.94 | 9.07% | 3.71% | 16.59% | 1.72% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
57 Neutral | $22.80B | 19.12 | 15.91% | 3.12% | -5.57% | 119.49% | |
56 Neutral | $9.19B | ― | -17.66% | 3.98% | -4.01% | -339.22% |
Ambev SA Corporate Events
During the month of October 2025, Ambev S.A. reported no changes in the transactions of securities and derivatives by its board of directors and management. The company’s report, in compliance with Article 11 of CVM Instruction # 358/2002, indicated that the initial and final balances of shares and ADRs remained unchanged, reflecting stability in the company’s securities activities for the period. This stability in securities transactions suggests a period of operational steadiness for Ambev, which may reassure stakeholders about the company’s current market positioning.
In October 2025, Ambev S.A. reported transactions involving the delivery of 33,615 restricted shares at a price of R$11.99 each, totaling a volume of R$403,043.85. This transaction reflects Ambev’s ongoing management of its outstanding shares and may impact its market positioning by adjusting its share structure.
Ambev S.A., a leading beverage company based in Brazil, has submitted its monthly report for October 2025 to the Securities and Exchange Commission. This report, signed by Chief Financial and Investor Relations Officer Guilherme Fleury de Figueiredo Ferraz Parolari, is part of the company’s compliance with the Securities Exchange Act of 1934, indicating its ongoing commitment to regulatory transparency.
Ambev S.A. has consolidated its best practices through a new Manual on Disclosure and Use of Information and Securities Trading Policy. This initiative aligns with the Brazilian Securities and Exchange Commission’s Ruling No. 44/21, which regulates the disclosure of material information and restricts securities trading by certain entities. The Manual aims to ensure transparency and adherence to regulations, impacting how directors and related persons manage and disclose privileged information, thereby reinforcing market integrity and investor trust.
On October 29, 2025, Ambev S.A.’s Board of Directors approved a share buyback program, allowing the repurchase of up to 208 million common shares primarily for cancellation. This initiative aims to enhance shareholder value through effective capital management. Additionally, the Board approved updates to the company’s Manual on Disclosure and Use of Information and Securities Trading Policy, facilitating the execution of the buyback program and ensuring compliance with trading regulations.
On October 29, 2025, Ambev S.A. released its interim consolidated financial statements for the quarter and nine-month period ending September 30, 2025. The review, conducted by PricewaterhouseCoopers, concluded that the financial statements were prepared in accordance with International Accounting Standard 34, with no significant issues identified. This announcement provides reassurance to stakeholders regarding the company’s financial reporting practices and its adherence to international accounting standards.
Ambev SA reported its third-quarter results for 2025, highlighting a 5.8% decline in consolidated volumes due to soft industry conditions, particularly in Brazil and Canada. Despite this, the company achieved a 1.2% increase in net revenue and a 2.9% growth in normalized EBITDA, driven by effective cost management and strategic execution. The company also announced a share buyback program worth approximately R$ 2.5 billion, reflecting confidence in its long-term growth strategy. Ambev’s digital platforms, BEES and Zé Delivery, continued to show strong performance, contributing to the company’s competitive advantage.
On October 29, 2025, Ambev S.A.’s Board of Directors approved a share buyback program to repurchase up to 208 million common shares, with the primary aim of cancelation. This move is intended to optimize capital allocation and potentially enhance shareholder value. The program, set to run until April 29, 2027, will involve transactions through major financial brokers and reflects Ambev’s strategic financial management. The impact on the company’s operations and market positioning could be significant, as it may influence share value and investor confidence.
In September 2025, Ambev S.A. reported transactions involving the delivery of restricted shares, with a total of 146,923 shares delivered at a price of R$12.30 each, amounting to a volume of R$1,807,152.90. This transaction reflects Ambev’s ongoing management of its outstanding shares in treasury, impacting its financial operations and potentially influencing shareholder value.
In September 2025, Ambev S.A. reported transactions involving its securities and derivatives, as per CVM Instruction # 358/2002. The transactions were conducted by management and related persons, with notable activities including the sale of 5,000 shares at R$12.50 each through Corretora Itaú. These transactions reflect the company’s ongoing compliance with regulatory requirements and provide insights into the trading activities of its management, potentially impacting investor perceptions and market dynamics.
From August 1st to 31st, 2025, Ambev S.A. reported its transactions involving securities and derivatives, as required by CVM Instruction # 358/2002. The report highlighted that there were no acquisitions or changes in positions by the Board of Directors, Management, or Fiscal Council during this period. This transparency in reporting reflects Ambev’s commitment to regulatory compliance and provides stakeholders with insights into the company’s financial activities.
In August 2025, Ambev S.A. reported transactions involving the delivery of restricted shares, amounting to 24,117 shares at a price of R$12.29 each. This transaction reflects Ambev’s ongoing management of its outstanding shares, with a final balance of 169,352,327 shares. Such activities are part of the company’s strategy to optimize its capital structure and enhance shareholder value.
On August 13 and 14, 2025, Ambev S.A.’s Board of Directors convened to confirm the election of Mr. Guilherme Malik Parente as the Legal and Compliance Vice President Officer, effective September 1, 2025. This appointment is part of a broader reorganization of the company’s executive team, with all officers serving until December 31, 2027. The changes reflect Ambev’s strategic focus on strengthening its leadership and enhancing compliance and governance structures.