Stocktoria

Ambev S.A. ABEV3.SA

BR · B3 (Brasil Bolsa) · XBSP · stock · Consumer Defensive · website

Ambev S.A. statistics & valuation

Market capR$227.4B
P / E14.7×
P / S2.6×
P / B2.6×
P / FCF11.5×
Dividend yield9.00%
Net margin17.6%
Return on equity17.6%
FCF margin22.5%
Net cashR$15.3B
Enterprise value USD$40.7B
Earnings yield EBIT/EV10.5%
Return on capital22.4%
Graham number -23.7%R$11.26

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value (R$11.26); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
18.10% 18.20% 16.10% 17.60% 2022202320242025
Gross margin (%)
49.30% 50.70% 51.20% 51.40% 2022202320242025
Operating margin (%)
21.80% 23.50% 24.00% 25.30% 2022202320242025
Return on equity (%)
17.60% 18.40% 14.60% 17.60% 2022202320242025
Shares outstanding
15.42B 15.42B 15.42B 15.42B 2022202320242025
Net debt (R$)
-R$11.08B -R$12.56B -R$25.14B -R$15.25B 2022202320242025
Share buybacks (R$)
R$54.1M R$119.0M R$467.6M R$1.93B 2022202320242025
Return on assets (%)
10.50% 10.90% 8.90% 10.70% 2022202320242025
Free cash flow margin (%)
17.70% 23.50% 23.90% 22.50% 2022202320242025
Debt / equity (×)
0.05× 0.04× 0.04× 0.04× 2022202320242025
EPS (R$)
R$0.93 R$0.92 R$0.91 R$0.99 2022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Ambev S.A. trades at about 14.9× earnings — near its 10-year norm (10-year range 12.2×–15×, median 14.7×).

12.2× 15×

Shaded band = 10-year range (12.2×–15×); dot = today's 14.9×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022
Gross margin51.4%51.2%50.7%49.3%
Operating margin25.3%24.0%23.5%21.8%
Net margin17.6%16.1%18.2%18.1%
FCF margin22.5%23.9%23.5%17.7%
Return on assets10.7%8.9%10.9%10.5%
Return on equity17.6%14.6%18.4%17.6%
Debt / equity0.00×0.00×0.00×0.01×
Current ratio0.961.100.890.93

Computed from company filings · BR · as of 2025-12-31. Figures in BRL. Facts plus Stocktoria's own computed scores — not investment advice.