Compania Cervecerias Unidas SA (CCU) AI Stock Analysis

• Market Cap: $2.17B
• Dividend Yield: 2.53%
• Average Volume (3M): 180.92K
• Price to Earnings (P/E): 19.1
• Beta (1Y): 0.50
• Revenue Growth: 16.59%
• EPS Growth: 1.72%
• Country: US
• Employees: 9,638
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Beverages - Alcoholic
• EPS (TTM): 0.37
• Shares Outstanding: 184,751,430
• 10 Day Avg. Volume: 169,199
• 30 Day Avg. Volume: 180,916
• PEG Ratio: -0.63
• Price to Book (P/B): 1.44
• Price to Sales (P/S): 0.77
• P/FCF Ratio: 23.19
• Enterprise Value/Market Cap: 1.28K
• Enterprise Value/Revenue: 0.96
• Enterprise Value/Gross Profit: 2.17
• Enterprise Value/Ebitda: 10.29
• 1Y Price Target: $12.50
• Price Target Upside: -1.19% Downside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 2
• EPS Forecast (FY): 799.54
• Revenue Forecast (FY): $3.08T

• Rating: 53 Neutral
• Price Target: $12.00 ▼(-5.14% Downside)
• Action: Downgraded Date: 02/27/26
• Date: Action: Downgraded 02/27/26

The score is held back mainly by weakening recent financial results (lower revenue/earnings and a sharp free-cash-flow decline) and soft technical momentum (negative MACD and sub-50 RSI). Offsetting factors include reasonable valuation with a moderate dividend and a mixed-but-constructive 2026 outlook focused on margin improvement, though significant risks remain from Argentina and the Wine segment.

Positive Factors

Strong Chile operating segment

CCU's core Chile business recovered volumes and expanded margins in 2025, showing resilient domestic demand and effective pricing. Durable recovery in the largest operating market underpins consolidated cash flow stability and provides a platform for margin-led improvement even if other segments lag.

High-growth RTD and water categories

Acceleration in RTD, flavored low-alcohol and functional water reflects structural consumer shifts to convenience and healthier options. These higher-growth, often higher-margin categories diversify revenue away from cyclical beer, supporting more durable top-line and margin expansion potential over multiple quarters.

Regional scale & distribution gains

Expanded distribution partnerships and JV volume gains build route-to-market scale and bargaining leverage with retailers across Latin America. Improved logistics and portfolio reach create structural cost advantages and revenue synergies that support sustained volume growth and margin resilience regionally.

Negative Factors

Argentina / International weakness

Severe Argentina-driven EBITDA declines reflect persistent macro, pricing and translation pressures that materially weaken consolidated profitability. Given the scale of the hit, multi-quarter improvement is required before group earnings and cash flow normalize, posing a lasting headwind to recovery.

Wine segment underperformance

Material volume and price deterioration in wine, driven by weak exports and negative mix, reduces segment profitability and increases earnings volatility. Structural softness in wine markets and higher wine costs can persistently drain consolidated margins and cash generation unless strategic repositioning occurs.

Weakened cash generation

Sharp FCF deterioration and lower OCF reduce financial flexibility for capex, dividends and deleveraging. With leverage still meaningful and management targeting net debt/EBITDA ≈2, sustained cash conversion weakness could pressure ratings, restrict strategic investments and prolong recovery timelines.

Compania Cervecerias Unidas SA Business Overview & Revenue Model

Company Description

Compania Cervecerias Unidas SA (CCU) is a leading beverage company based in Chile, primarily engaged in the production and distribution of a wide range of alcoholic and non-alcoholic beverages. The company operates in various sectors, including brewing, soft drinks, and bottled water. CCU's core products include beer, sparkling water, and fruit beverages, with a portfolio that features both proprietary brands and licensed products. The company has a strong presence in Chile and has expanded its operations into other Latin American markets.

How the Company Makes Money

CCU makes money by manufacturing and/or bottling beverages and selling them at a margin through a mix of direct distribution and third-party retail/on-premise channels. Its main revenue streams are (1) beer sales, where revenues come from branded beer volumes sold to supermarkets, convenience stores, wholesalers, bars, restaurants, and entertainment venues; (2) non-alcoholic beverages, including carbonated soft drinks, bottled water, juices, and other refreshment beverages, sold in multiple package formats (returnable and non-returnable) with pricing that reflects brand positioning, pack size, and channel mix; and (3) wine and spirits/other alcoholic beverages, where revenue is generated from domestic sales and, where applicable, exports, with margins influenced by brand mix and product segmentation. Additional earnings drivers typically include (a) licensing and distribution arrangements for certain international beverage brands where CCU bottles/distributes products in specific territories, earning revenues from local sales of those brands; (b) scale and route-to-market advantages from owning or controlling parts of the distribution network (warehousing, logistics, and sales execution), which support volume growth and pricing execution; and (c) seasonal demand and promotional activity, which affect volumes and realized prices across categories. Specific partner names, contract terms, or brand-by-brand financial contributions: null.

Compania Cervecerias Unidas SA Financial Statement Overview

Summary

Profitability and cash generation weakened in the latest year: revenue fell in 2025 and net income declined versus 2024, while operating cash flow and free cash flow contracted materially. Leverage is manageable but still meaningful, which reduces flexibility if earnings remain pressured.

Income Statement

Profitability remains positive but has weakened. Revenue fell in 2025 (down 8.5%) after growth in 2024, and net income declined meaningfully versus 2024 (111.4B vs. 160.9B). Operating profit also stepped down from 2024, suggesting pressure on the earnings base despite still-solid scale.

Balance Sheet

Leverage looks manageable but elevated for a consumer staple. Total debt is high relative to equity (about 0.93x in 2024), though it improved from 2023 (~1.09x) and equity has grown over time. Total assets dipped in 2025 versus 2024, and the balance sheet carries meaningful debt load that can limit flexibility if earnings stay under pressure.

Cash Flow

Cash generation is positive but less consistent and recently weaker. Operating cash flow declined in 2025 (227.3B vs. 287.5B in 2024) and free cash flow fell sharply (down 38.5% in 2025). While free cash flow has been positive lately, the history includes a large negative free cash flow year in 2022, indicating potential volatility in cash conversion and/or investment needs.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.77T	2.90T	2.57T	2.71T	2.48T
Gross Profit	1.23T	1.31T	1.19T	1.20T	1.19T
EBITDA	350.84B	262.70B	344.05B	211.68B	454.00B
Net Income	111.40B	160.94B	105.65B	118.17B	199.16B
Balance Sheet
Total Assets	3.76T	3.99T	3.42T	3.60T	2.85T
Cash, Cash Equivalents and Short-Term Investments	530.62B	707.95B	621.47B	609.04B	279.58B
Total Debt	1.33T	1.41T	1.33T	1.37T	573.65B
Total Liabilities	2.14T	2.32T	2.09T	2.16T	1.42T
Stockholders Equity	1.48T	1.53T	1.22T	1.32T	1.31T
Cash Flow
Free Cash Flow	91.92B	127.43B	164.65B	-157.67B	121.50B
Operating Cash Flow	227.31B	287.52B	294.10B	45.94B	293.36B
Investing Cash Flow	-156.23B	-118.29B	-137.23B	-236.46B	-178.99B
Financing Cash Flow	-196.43B	-125.04B	-118.04B	537.10B	-233.64B

Compania Cervecerias Unidas SA Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 12.65
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CCU, the sentiment is Negative. The current price of 12.65 is below the 20-day moving average (MA) of 12.91, below the 50-day MA of 13.77, and below the 200-day MA of 12.79, indicating a bearish trend. The MACD of -0.66 indicates Positive momentum. The RSI at 30.30 is Neutral, neither overbought nor oversold. The STOCH value of 17.54 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CCU.

Compania Cervecerias Unidas SA Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ABEV	80 Outperform	$45.45B	13.63	16.90%	8.22%	-0.68%	4.29%
SAM	70 Outperform	$2.35B	19.30	12.16%	―	-1.13%	24.34%
FMX	70 Outperform	$21.67B	35.36	7.60%	4.33%	1.44%	-38.87%
BUD	68 Neutral	$145.14B	18.53	12.35%	1.83%	-2.06%	21.03%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
TAP	54 Neutral	$8.39B	-4.26	-18.18%	4.08%	-4.01%	-339.22%
CCU	53 Neutral	$2.17B	19.13	7.86%	2.53%	16.59%	1.72%

Compania Cervecerias Unidas SA Corporate Events

CCU Calls April 15, 2026 Ordinary Shareholders’ Meeting With Remote Participation

On March 10, 2026, CCU reported that its board, at a meeting held on March 4, 2026, called an Ordinary Shareholders’ Meeting for April 15, 2026, in Santiago, with the option for remote participation and voting under Chilean market regulations. Shareholders registered as of April 9, 2026, will be able to attend in person or online to exercise their rights.

The agenda covers approval of the 2025 annual report and consolidated financial statements, profit distribution and dividends, election and remuneration of the board and key committees, appointment of external auditors and rating agencies, and review of related-party operations and 2025 committee activities. The meeting will also address procedural corporate matters, including board expenses and designation of the official newspaper for legal notices, with financial statements and remote participation instructions already made available on the company’s investor website, signaling a focus on transparency and broader shareholder engagement.

The most recent analyst rating on (CCU) stock is a Hold with a $12.00 price target. To see the full list of analyst forecasts on Compania Cervecerias Unidas SA stock, see the CCU Stock Forecast page.

CCU Board Proposes 2025 Final Dividend Distribution

On March 4, 2025, the board of Compañía Cervecerías Unidas S.A. approved a proposal for the next Ordinary Shareholders’ Meeting to distribute a final dividend charged to 2025 net income attributable to the parent’s equity holders. The proposed payout totals CLP 27.54 billion, equivalent to CLP 74.52679 per share or CLP 149.05358 per ADR, to be paid starting April 24, 2025 to shareholders of record at midnight on April 18, 2026.

The planned dividend signals the company’s intention to return a substantial portion of 2025 earnings to investors, underscoring confidence in its financial performance and cash generation. The move is relevant for shareholders across CCU’s Latin American markets, as it reflects ongoing value distribution while the company maintains its broad presence in regional beer and non-alcoholic beverage categories.

The most recent analyst rating on (CCU) stock is a Hold with a $13.50 price target. To see the full list of analyst forecasts on Compania Cervecerias Unidas SA stock, see the CCU Stock Forecast page.

CCU Publishes 2025 Consolidated Financial Statements, Showing Lower Asset Base Versus 2024

Compañía Cervecerías Unidas S.A. and its subsidiaries have released their consolidated financial statements for the year ended December 31, 2025, prepared in thousands of Chilean pesos. The report details the group’s assets, liabilities, equity and accounting policies, offering investors and analysts an updated view of CCU’s financial position at the close of 2025, including shifts in cash, receivables, inventories and long-term assets compared with 2024.

The 2025 statements show total assets of Ch$3.65 trillion, down from Ch$3.99 trillion a year earlier, reflecting lower cash and cash equivalents, inventories and certain non-current assets. These disclosures provide transparency on CCU’s capital structure, risk management and segment information, and will inform stakeholders’ assessment of the company’s financial strength, investment needs and strategic flexibility in the regional beverage market.

The most recent analyst rating on (CCU) stock is a Hold with a $13.50 price target. To see the full list of analyst forecasts on Compania Cervecerias Unidas SA stock, see the CCU Stock Forecast page.

CCU Reports Weaker 4Q25 Earnings as Argentina and Wine Weigh on Otherwise Solid Chile Performance

On February 24, 2026, CCU reported its consolidated results for the fourth quarter and full year 2025, showing modest volume growth but weaker financial performance versus 2024. For 4Q25, consolidated volumes rose 0.6%, net sales fell 11.8%, gross profit declined 15.2%, EBITDA dropped 17.2% to CLP 151,201 million and net income contracted 25.7% to CLP 55,096 million, with earnings per share at CLP 149.1.

For full-year 2025, excluding a non-recurring land sale gain booked in 2024, EBITDA declined 2.9% to CLP 376,208 million and net income fell 16.3% to CLP 117,152 million, despite total volumes growing 7.3% to 36.2 million hectoliters and flat reported net sales. Performance was robust in Chile, where EBITDA grew 7.8% and margins improved, but was offset by a 29.5% EBITDA contraction in the International Business segment and a 14.9% drop in Wine amid a particularly difficult environment in Argentina and softer wine markets.

Management highlighted that, excluding Argentina, consolidated EBITDA would have grown mid-single digit for 2025 and low-single digit in 4Q25, underscoring Argentina’s drag on group results. The Chile segment returned to volume growth after three years of contraction, driven by non-alcoholic categories and high-margin innovations, while CCU also advanced its 2025–2027 strategic plan by integrating PepsiCo’s beverage and snacks distribution in Paraguay, expanding its water and beer scale regionally, and progressing on sustainability and human capital milestones.

The most recent analyst rating on (CCU) stock is a Sell with a $14.00 price target. To see the full list of analyst forecasts on Compania Cervecerias Unidas SA stock, see the CCU Stock Forecast page.

CCU Announces Leadership Transition as Chairman Francisco Pérez Mackenna Resigns

On January 21, 2026, Compañía Cervecerías Unidas S.A. announced that long-serving chairman and director Francisco Pérez Mackenna resigned his positions effective January 31, 2026, with the board formally accepting his resignation and acknowledging his contributions. The board appointed Macario Valdés Raczynski as a replacement director effective February 1, 2026, pending a full board renewal at the next ordinary shareholders’ meeting, and named Pablo Granifo Lavín as the new chairman to assume leadership once Pérez’s resignation takes effect, signaling a planned transition at the top of CCU’s governance structure that could shape the company’s strategic direction across its regional beverage operations.

The most recent analyst rating on (CCU) stock is a Sell with a $11.00 price target. To see the full list of analyst forecasts on Compania Cervecerias Unidas SA stock, see the CCU Stock Forecast page.