Compania Cervecerias Unidas SA (CCU)
NYSE:CCU
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Compania Cervecerias Unidas SA
(NYSE:CCU)
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Rating:63Neutral
Price Target:
$12.50
▼(-1.19% Downside)
Action:Reiterated
Date:05/14/26
The score is led by mid-range fundamentals (strong recent revenue growth and improving leverage, but compressed margins and only moderate cash conversion). Earnings call signals a credible 2026 margin-improvement plan, but near-term risks remain from Argentina and Wine underperformance. Valuation is a clear positive with a low P/E and moderate yield, while technicals are neutral-to-slightly weak given the stock remains below longer-term moving averages.
Positive Factors
Top-line Momentum
Sustained top-line expansion and rising volumes demonstrate durable demand and distribution scale across CCU's portfolio. Strong revenue growth supports investment capacity, pricing leverage and channel expansion, underpinning structural revenue resilience over the next 2–6 months.
Negative Factors
Compressed Profitability
Margins remain materially compressed versus historical levels, reflecting higher input and SG&A pressures plus mix shifts. Lower earnings power constrains reinvestment and free cash flow generation, limiting durable profitability even if top line holds.
Read all positive and negative factors
Positive Factors
Negative Factors
Top-line Momentum
Sustained top-line expansion and rising volumes demonstrate durable demand and distribution scale across CCU's portfolio. Strong revenue growth supports investment capacity, pricing leverage and channel expansion, underpinning structural revenue resilience over the next 2–6 months.
Read all positive factors
Compania Cervecerias Unidas SA (CCU) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.16B
Dividend Yield2.53%
Average Volume (3M)180.92K
Price to Earnings (P/E)8.7
Beta (1Y)0.57
Revenue Growth0.23%
EPS Growth-28.74%
CountryUS
Employees9,638
SectorConsumer Defensive
Sector Strength42
IndustryBeverages - Alcoholic
Share Statistics
EPS (TTM)615.82
Shares Outstanding184,751,430
10 Day Avg. Volume169,199
30 Day Avg. Volume180,916
Financial Highlights & Ratios
PEG Ratio-0.63
Price to Book (P/B)1.44
Price to Sales (P/S)0.77
P/FCF Ratio23.19
Enterprise Value/Market Cap1.19K
Enterprise Value/Revenue0.87
Enterprise Value/Gross Profit1.96
Enterprise Value/Ebitda10.66
Forecast
1Y Price Target
$10.10Price Target Upside-20.16% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering2
EPS Forecast (FY)741.42
Revenue Forecast (FY)$3.07T
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 br...
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 ...
Compania Cervecerias Unidas SA Earnings Call Summary
Earnings Call Date:Feb 24, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Neutral
The call reflected a mixed picture: CCU's core Chile business showed clear improvements—recovering volume growth, mid-single-digit EBITDA gains, margin expansion and strong innovation-led growth in RTD and water categories. However, these positives were materially offset by severe underperformance in the International Business (notably Argentina) and the Wine segment, which drove significant quarterly and yearly declines in consolidated EBITDA and net income. Management emphasized operational actions (revenue management, efficiency, high-margin innovation) and some input-cost tailwinds from FX, but notable near-term headwinds remain.Positive Updates
Strong Chile Operating Segment Performance (Full Year)
Chile operating segment delivered robust results in 2025: EBITDA grew 7.8% year-on-year and EBITDA margin expanded by 48 basis points. Consolidated organic volumes growth was fully driven by Chile, with the country recovering volume growth after three years of contraction.
Negative Updates
Consolidated Profit Declines (Full Year)
Consolidated EBITDA decreased 2.9% in 2025 when isolating a 2024 nonrecurring land-sale gain; net income fell 16.3% year-on-year.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Chile Operating Segment Performance (Full Year)
Chile operating segment delivered robust results in 2025: EBITDA grew 7.8% year-on-year and EBITDA margin expanded by 48 basis points. Consolidated organic volumes growth was fully driven by Chile, with the country recovering volume growth after three years of contraction.
Read all positive updates
Company Guidance
CCU guided that for 2026 it will seek to grow prices in line with inflation, pursue revenue‑management and high‑margin innovation to expand EBITDA and margins (management expects a positive EBITDA/margin impact in 2026), and expects favorable input‑cost dynamics from an appreciated Chilean peso (each 1% CLP appreciation ≈ CLP 4,000 million benefit) partially offset by higher aluminum and PET recycling costs; operationally, management sees beer stabilizing around 0–1% growth while non‑alcoholic and low‑alcohol RTD products should continue double‑digit growth (RTD >20%, low‑alcohol spirits ≈25%), with low‑alcohol RTD already ~7% of Chile mix and CCU holding >80% share in flavored low‑alcohol, plans CapEx roughly in line with depreciation, aims to keep net debt/EBITDA at ≈2 or below to protect its rating, and expects marketing spend to normalize after a temporary Q4 increase—context: CCU closed 2025 with consolidated volumes of 36.2 million hl (+7.3% YoY; organic +0.6%), Chile volumes +1.1% (recovery), Chile FY EBITDA +7.8% and +48 bps margin, while consolidated EBITDA excluding a 2024 land sale fell 2.9% (Q4 consolidated EBITDA -17.2%, Q4 net income -25.7%).Compania Cervecerias Unidas SA Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
64
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.94T | 2.77T | 2.90T | 2.57T | 2.71T | 2.48T |
| Gross Profit | 1.31T | 1.23T | 1.31T | 1.19T | 1.20T | 1.19T |
| EBITDA | 241.35B | 350.84B | 262.70B | 344.05B | 211.68B | 454.00B |
| Net Income | 115.22B | 111.40B | 160.94B | 105.65B | 118.17B | 199.16B |
Balance Sheet | ||||||
| Total Assets | 4.13B | 3.76T | 3.99T | 3.42T | 3.60T | 2.85T |
| Cash, Cash Equivalents and Short-Term Investments | 668.03M | 530.62B | 707.95B | 621.47B | 609.04B | 279.58B |
| Total Debt | 1.34B | 1.33T | 1.41T | 1.33T | 1.37T | 573.65B |
| Total Liabilities | 2.26B | 2.14T | 2.32T | 2.09T | 2.16T | 1.42T |
| Stockholders Equity | 1.70B | 1.48T | 1.53T | 1.22T | 1.32T | 1.31T |
Cash Flow | ||||||
| Free Cash Flow | 155.77B | 91.92B | 127.43B | 164.65B | -157.67B | 121.50B |
| Operating Cash Flow | 265.63B | 227.31B | 287.52B | 294.10B | 45.94B | 293.36B |
| Investing Cash Flow | -131.65B | -156.23B | -118.29B | -137.23B | -236.46B | -178.99B |
| Financing Cash Flow | -250.51B | -196.43B | -125.04B | -118.04B | 537.10B | -233.64B |
Compania Cervecerias Unidas SA Technical Analysis
Neutral
12.65
Price Trends
11.60
Positive
12.67
Negative
12.46
Negative
Market Momentum
-0.04
Negative
49.38
Neutral
22.85
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CCU, the sentiment is Neutral. The current price of 12.65 is above the 20-day moving average (MA) of 11.52, above the 50-day MA of 11.60, and above the 200-day MA of 12.46, indicating a neutral trend. The MACD of -0.04 indicates Negative momentum. The RSI at 49.38 is Neutral, neither overbought nor oversold. The STOCH value of 22.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CCU.
Compania Cervecerias Unidas SA Risk Analysis
Compania Cervecerias Unidas SA disclosed 31 risk factors in its most recent earnings report. Compania Cervecerias Unidas SA reported the most risks in the "Macro & Political" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Compania Cervecerias Unidas SA Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $50.99B | 15.66 | 17.19% | 8.22% | -0.41% | 13.36% | |
70 Outperform | $24.35B | 1.14 | 12.11% | 4.33% | 10.32% | 5.93% | |
68 Neutral | $164.15B | 18.58 | 8.66% | 1.83% | -0.33% | 18.34% | |
63 Neutral | $2.16B | 8.72 | 7.53% | 2.53% | 0.23% | -28.74% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
58 Neutral | $8.04B | 13.44 | -19.15% | 4.08% | -1.30% | -312.85% | |
52 Neutral | $1.91B | -4.14 | -7.30% | ― | -4.69% | -204.08% |
* Consumer Defensive Sector Average
CCU
Compania Cervecerias Unidas SA
11.63
-2.12
-15.41%
BUD
Anheuser-Busch Inbev Sa
82.51
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21.50%
SAM
Boston Beer
183.44
-55.31
-23.17%
FMX
Fomento Economico Mexicano
121.55
21.33
21.28%
TAP
Molson Coors
42.76
-10.74
-20.08%
ABEV
Ambev SA
3.23
0.87
37.04%
Compania Cervecerias Unidas SA Corporate Events
Compañía Cervecerías Unidas Posts Asset Growth in Q1 2026 Interim Results
May 7, 2026
On March 31, 2026, Compañía Cervecerías Unidas S.A. reported interim consolidated financial statements showing total assets of CLP 3.75 trillion, up from CLP 3.65 trillion at year-end 2025, driven by higher property, plant and equip...
CCU Posts Flat EBITDA as Strong Chile Operations Offset Weakness in Argentina and Wine in 1Q26
May 7, 2026
On May 6, 2026, CCU reported first-quarter 2026 results showing modest top-line and volume growth but softer profitability amid mixed performance across segments. Consolidated volumes rose 1.8% and net sales edged up 0.2%, lifting gross profit by ...
CCU Shareholders Approve Final 2025 Dividend Ahead of April 24 Payout
Apr 16, 2026
On April 15, 2026, CCU’s ordinary shareholders’ meeting in Santiago approved a final dividend, number 272, charged against 2025 net income attributable to the parent company’s equity holders. The distribution amounts to CLP 74.52...
CCU Overhauls Board and Committee Leadership at April 15, 2026 Shareholders’ Meeting
Apr 16, 2026
On April 15, 2026, CCU held its ordinary shareholders’ meeting in Santiago, Chile, where shareholders elected a nine-member board for a new three-year term, including Marie Agathe Lemoine Porte as an independent director under Chilean corpor...
CCU Releases 2025 Integrated Annual Report and Audited Results
Apr 1, 2026
Compañía Cervecerías Unidas S.A. announced in Santiago, Chile, that it published its 2025 Integrated Annual Report on March 31, 2026, currently available in Spanish on its investor website and in hard copy at its Santiago offices fo...
CCU Sets April Shareholders’ Meeting to Approve 2025 Results and 50% Payout
Mar 31, 2026
Compañía Cervecerías Unidas S.A. has called its 123rd ordinary shareholders’ meeting for April 15, 2026 in Santiago, with in‑person and remote participation, to vote on the approval of its 2025 annual report, consolidate...
CCU Calls April 15, 2026 Ordinary Shareholders’ Meeting With Remote Participation
Mar 11, 2026
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 regulation...
CCU Board Proposes 2025 Final Dividend Distribution
Mar 4, 2026
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 equit...
CCU Publishes 2025 Consolidated Financial Statements, Showing Lower Asset Base Versus 2024
Feb 27, 2026
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, l...
CCU Reports Weaker 4Q25 Earnings as Argentina and Wine Weigh on Otherwise Solid Chile Performance
Feb 25, 2026
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...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.