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General information

Country: BRAZIL

Sector: Beverages — Brewers

Ambev S.A., through its subsidiaries, produces, distributes, and sells beer, draft beer, carbonated soft drinks (CSD), other non-alcoholic beverages, malt, and food products in the Americas. It operates through three segments: Brazil; Central America and the Caribbean; Latin America South; and Canada. The company offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Brahva Gold, Extra, Budweiser, Bud Light, Stella Artois, Corona, Modelo Especial, Beck, Leffe, Hoegaarden, Bucanero, Cristal, Mayabe, Cacique, Presidente, Brahma Light, President Light, Bohemia, The One, Banks, Deputy, Quilmes Clásica, Paceña, Taquiña, Huari, Becker, Cusqueña, Pilsen, Ouro Fino, Patricia, Michelob Ultra, Busch, Labatt Blue, Alexander Keith`s, and Kokanee, brands. It also provides CSD, bottled water, isotonic beverages, energy drinks, coconut water, powdered and natural juices, and ready-to-drink teas under the Guaraná Antarctica, Gatorade, H2OH!, Lipton Iced Tea, Fusion, Do Bem, Pepsi, Canada Dry, Squirt, Red Rock, Pepsi-Cola, Seven Up brands, and Palm Bay and Mike`s brands. Ambev S.A. offers its products through a network of third-party distributors and a direct distribution system. The company was founded in 1885 and is headquartered in São Paulo, Brazil. Ambev S.A. is a subsidiary of Interbrew International B.V.
Website: ambev.com.br



Growth: Good revenue growth rate 22.3%, there is acceleration compared to average historical growth rates 7.2%. The revenue growth dynamics is unstable Site traffic for the last 3 months showed a change of +55.7%

Profitability: LTM EBITDA margin is positive, +28.5%. On average the margin is improving unsteadily. Gross margin is high, +48.3%. In the last quarter the company beat the estimated EPS, +33.3%. The company was ahead of estimated EPS in 100% of quarters (showing a gain of +$0.01 per share on average)

Cash Flow Generation: Dividend yield for the last twelve months 6.4%. Free cash flow yield -0.3% (LTM)

Undervaluation: Fundamental value created in LTM (estimate)


Entry Point: Share price is 1.8% higher than minimum and 41.0% lower than maximum for the last 3 years

AI Insight: the companies with similar growth trajectories, EBITDA margin, industries and geography on average are valued 3.3x by EV / Sales multiple , the company can be 47.8% undervalued

Key Financials (Download financials)

Ticker: ABEV
Share price, USD:  (-0.9%)2.3
year average price 2.75  


year start price 2.80 2023-04-28

max close price 3.22 2023-06-22

min close price 2.26 2024-04-16

current price 2.30 2024-04-26
Common stocks: 15 741 600 000

Dividend Yield:  6.4%
FCF Yield LTM: -0.3%
EV / LTM EBITDA: 7.8x
EV / EBITDA annualized: 7.4x
Last revenue growth (y/y):  22.3%
Last growth of EBITDA (y/y):  23.1%
Historical revenue growth:  7.2%
Historical growth of EBITDA:  7.9%
EV / Sales: 2.2x
Margin (EBITDA LTM / Revenue): 28.5%
Fundamental value created in LTM:
Market Cap ($m): 36 206
Net Debt ($m): -2 015
EV (Enterprise Value): 34 191
Price to Book: 2.4x

Revenue and EBITDA

Quarterly values ($m)

Change (y/y)

Cash Flow

FCF ($m)

Net Debt / Cash and Equivalents ($m)

Share price and dividends (Download history)

Share price

Payment USD per share

Multiple and potential

EV / Sales

Potential dynamics

News


2024-04-02Seeking Alpha

Ambev: A Currency That Produces Beer

2024-04-01MarketBeat

5 Cheap Dividend Stocks: Which to Buy Now

2024-02-21InvestorPlace

3 Stocks With 5% Dividend Yields for $20 (or Less)

2024-01-30InvestorPlace

Wall Street Favorites: 3 Penny Stocks With Strong Buy Ratings for January 2024

2024-01-17InvestorPlace

7 Steadfast Stocks That Are Unaffected by Interest Rate Changes

2023-10-31Seeking Alpha

Ambev S.A. (ABEV) Q3 2023 Earnings Call Transcript

2023-09-18Seeking Alpha

Ambev SA: Banking On New Combinations And Innovation To Raise Revenue

2023-09-14Seeking Alpha

Ambev: Improving Operating Metrics With Healthy Dividend Yield, Buy

2023-09-04Zacks Investment Research

ABEV or DEO: Which Is the Better Value Stock Right Now?

2023-08-30Zacks Investment Research

Brown-Forman (BF.B) Q1 Earnings & Sales Miss on Soft Trends
More information for subscribed users:
detailed calculation of
Fundamental value created in LTM

Financial reporting

Income Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol ABEV ABEV ABEV ABEV ABEV ABEV
reportedCurrency BRL BRL BRL BRL BRL BRL
cik 2M 2M 2M 2M 2M 2M
fillingDate 2024-03-11 2023-09-30 2023-08-03 2023-03-31 2022-12-31 2022-09-30
acceptedDate 2024-03-11 17:02:15 2023-09-29 20:00:00 2023-08-03 10:03:16 2023-03-31 00:00:00 2022-12-30 19:00:00 2022-09-29 20:00:00
calendarYear 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q4 Q3 Q2 Q1 Q4 Q3
revenue 19 989M 20 588M 18 898M 20 532M 22 693M 20 588M
costOfRevenue 10 040M 10 648M 9 636M 10 132M 10 985M 10 648M
grossProfit 9 949M 9 940M 9 263M 10 400M 11 708M 9 940M
grossProfitRatio 0.498 0.483 0.490 0.507 0.516 0.483
researchAndDevelopmentExpenses 0 0 0 0 0 0
generalAndAdministrativeExpenses 1 286M 1 314M 1 316M 1 306M 1 454M 1 314M
sellingAndMarketingExpenses 4 348M 4 897M 4 772M 4 658M 5 299M 4 897M
sellingGeneralAndAdministrativeExpenses 4 990M 6 211M 6 088M 5 964M 6 753M 6 211M
otherExpenses 153M 38M -605 000 -453M -515M -215M
operatingExpenses 4 837M 5 882M 5 706M 5 511M 6 238M 5 997M
costAndExpenses 14 877M 16 530M 15 341M 15 642M 17 223M 16 645M
interestIncome 799M 481M 521M 344M 533M 493M
interestExpense 1 971M 692M 660M 617M 679M 891M
depreciationAndAmortization 1 513M 1 672M 1 704M 1 742M 1 961M 2 235M
ebitda 6 625M 5 891M 5 522M 6 631M 7 389M 6 293M
ebitdaratio 0.331 0.286 0.292 0.323 0.326 0.306
operatingIncome 5 112M 4 057M 3 448M 4 890M 5 429M 4 057M
operatingIncomeRatio 0.256 0.197 0.182 0.238 0.239 0.197
totalOtherIncomeExpensesNet -215M -726M -789M -1 012M -1 101M -1 253M
incomeBeforeTax 4 897M 2 804M 2 372M 3 878M 4 328M 2 804M
incomeBeforeTaxRatio 0.245 0.136 0.126 0.189 0.191 0.136
incomeTaxExpense 198M -411M -226M 58M -756M -411M
netIncome 4 388M 3 109M 2 503M 3 700M 4 967M 3 109M
netIncomeRatio 0.219 0.151 0.132 0.180 0.219 0.151
eps 0.280 0.200 0.160 0.230 0.330 0.200
epsdiluted 0.280 0.200 0.160 0.230 0.330 0.200
weightedAverageShsOut 15 744M 15 746M 15 644M 15 743M 15 742M 15 740M
weightedAverageShsOutDil 15 828M 15 844M 15 644M 15 842M 15 848M 15 852M
link Link Link
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Balance Sheet Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol ABEV ABEV ABEV ABEV ABEV ABEV
reportedCurrency BRL BRL BRL USD BRL BRL
cik 2M 2M 2M 2M 2M 2M
fillingDate 2024-03-11 2023-09-30 2023-08-03 2023-02-02 2022-12-31 2022-09-30
acceptedDate 2024-03-11 17:02:15 2023-09-29 20:00:00 2023-08-03 10:03:16 2023-02-01 20:29:58 2022-12-30 19:00:00 2022-09-29 20:00:00
calendarYear 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q4 Q3 Q2 Q1 Q4 Q3
cashAndCashEquivalents 16 059M 17 414M 12 117M 12 214M 14 926M 17 713M
shortTermInvestments 277M 227M 314M 365M 455M 1 347M
cashAndShortTermInvestments 16 336M 17 641M 12 431M 12 579M 15 381M 19 060M
netReceivables 9 231M 7 665M 8 272M 8 096M 8 203M 8 095M
inventory 9 619M 10 819M 12 055M 13 031M 12 923M 12 495M
otherCurrentAssets 1 377M 1 038M 1 291M 1 320M 1 038M 1 907M
totalCurrentAssets 36 563M 37 553M 34 324M 35 379M 37 817M 41 557M
propertyPlantEquipmentNet 26 630M 28 925M 29 285M 29 791M 30 056M 29 927M
goodwill 38 004M 39 769M 39 320M 40 184M 40 594M 41 632M
intangibleAssets 10 042M 9 465M 9 141M 9 250M 9 222M 9 176M
goodwillAndIntangibleAssets 48 045M 49 234M 48 461M 49 435M 49 816M 50 808M
longTermInvestments 1 548M 553M 576M 589M 551M 551M
taxAssets 10 464M 9 233M 8 070M 7 214M 6 439M 7 477M
otherNonCurrentAssets 11 888M 12 416M 12 578M 13 060M 13 280M 11 744M
totalNonCurrentAssets 98 576M 100 362M 98 970M 100 088M 100 141M 100 507M
otherAssets 0 0 0 0 0 0
totalAssets 135 139M 137 914M 133 294M 135 467M 137 958M 142 064M
accountPayables 21 279M 18 223M 18 580M 21 623M 24 329M 21 313M
shortTermDebt 1 298M 1 237M 1 424M 1 295M 1 057M 1 200M
taxPayables 1 340M 5 552M 4 809M 4 661M 6 932M 4 845M
deferredRevenue 2 867M 9 631M 8 664M 0 0 0
otherCurrentLiabilities 15 562M 4 755M 5 454M 12 714M 15 155M 12 466M
totalCurrentLiabilities 41 005M 33 846M 34 122M 35 632M 40 541M 34 980M
longTermDebt 391M 2 482M 2 672M 2 651M 2 788M 2 219M
deferredRevenueNonCurrent 1 812M 6 069M 4 955M 0 0 0
deferredTaxLiabilitiesNonCurrent 5 813M 3 956M 3 726M 3 760M 3 726M 3 784M
otherNonCurrentLiabilities 5 974M -100 000 1 454M 6 986M 7 576M -6 981M
totalNonCurrentLiabilities 13 990M 12 507M 12 807M 13 397M 14 090M 15 533M
otherLiabilities 0 0 0 0 0 0
capitalLeaseObligations 1 812M 0 3 390M 3 162M 3 117M 2 651M
totalLiabilities 54 995M 46 353M 46 928M 49 030M 54 630M 50 513M
preferredStock 0 0 0 0 0 0
commonStock 58 178M 58 178M 58 178M 58 178M 58 131M 58 131M
retainedEarnings 17 399M 13 771M 8 732M 4 970M 0 12 308M
accumulatedOtherComprehensiveIncomeLoss 4 404M 18 306M 18 164M 21 852M 23 825M 19 740M
othertotalStockholdersEquity -1 012M 100 000 0 0 0 0
totalStockholdersEquity 78 969M 90 255M 85 075M 85 000M 81 956M 90 178M
totalEquity 80 144M 91 561M 86 366M 86 437M 81 956M 90 178M
totalLiabilitiesAndStockholdersEquity 135 139M 137 914M 133 294M 135 467M 137 958M 140 691M
minorityInterest 1 175M 1 306M 1 291M 1 437M 1 372M 0
totalLiabilitiesAndTotalEquity 135 139M 137 914M 133 294M 135 467M 137 958M 140 691M
totalInvestments 1 826M 780M 890M 954M 1 006M 1 899M
totalDebt 3 501M 3 719M 4 096M 3 946M 3 845M 3 419M
netDebt -12 558M -13 695M -8 021M -8 268M -11 081M -14 293M
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Cash Flow Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol ABEV ABEV ABEV ABEV ABEV ABEV
reportedCurrency BRL BRL BRL BRL BRL BRL
cik 2M 2M 2M 2M 2M 2M
fillingDate 2024-03-11 2023-09-30 2023-08-03 2023-03-31 2022-12-31 2022-09-30
acceptedDate 2024-03-11 17:02:15 2023-09-29 20:00:00 2023-08-03 10:03:16 2023-03-31 00:00:00 2022-12-30 19:00:00 2022-09-29 20:00:00
calendarYear 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q4 Q3 Q2 Q1 Q4 Q3
netIncome 4 388M 4 015M 2 598M 3 819M 5 083M 3 215M
depreciationAndAmortization 1 513M 1 672M 1 704M 1 527M 1 632M 1 523M
deferredIncomeTax 910M 88M -161M 117M -756M -411M
stockBasedCompensation 62M 88M 105M 77M 96M 67M
changeInWorkingCapital 5 063M 897M -1 412M -4 845M 3 571M 412M
accountsReceivables -792M -373M 48M 0 0 0
inventory 467M 997M 334M -496M -851M -61M
accountsPayables 5 389M 273M -1 793M 0 0 0
otherWorkingCapital 0 34 000 65 000 -4 348M 4 423M 473M
otherNonCashItems 2 013M 1 164M 582M -1 272M 2 184M 1 303M
netCashProvidedByOperatingActivities 13 949M 7 923M 3 416M -576M 11 811M 6 109M
investmentsInPropertyPlantAndEquipment -2 273M -1 283M -1 296M -1 153M -2 036M -1 856M
acquisitionsNet 70M -47M 34M 0 -100 000 15 000
purchasesOfInvestments 21 000 2M -2M -7M 0 0
salesMaturitiesOfInvestments -55M 94M 45M 55M 904M 167M
otherInvestingActivites 400 001 23M -46 000 24M 36M 40M
netCashUsedForInvestingActivites -2 257M -1 210M -1 218M -1 081M -1 096M -1 649M
debtRepayment -32M -362M -347M -306M -311M -326M
commonStockIssued -43 000 1M 20M 15M 2M 0
commonStockRepurchased -40M -54M -20M -5M 0 -630 000
dividendsPaid -11 630M -125M -129M -38M -11 960M -118M
otherFinancingActivites -289M -861M -1 232M -682M -412M -483M
netCashUsedProvidedByFinancingActivities -11 990M -1 402M -1 707M -1 016M -12 680M -926M
effectOfForexChangesOnCash -1 055M 89M -535M -122M -457M 129M
netChangeInCash -1 355M 5 399M -44M -2 795M -2 422M 3 663M
cashAtEndOfPeriod 16 059M 17 413M 12 013M 12 057M 14 852M 17 274M
cashAtBeginningOfPeriod 17 414M 12 013M 12 057M 14 852M 17 274M 13 611M
operatingCashFlow 13 949M 7 923M 3 416M -576M 11 811M 6 109M
capitalExpenditure -2 273M -1 283M -1 296M -1 153M -2 036M -1 856M
freeCashFlow 11 676M 6 640M 2 120M -1 729M 9 775M 4 253M
link Link Link
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Earning call transcript

2023 q4
2024-02-29 ET (fiscal 2023 q4)
2023 q3
2023-10-31 ET (fiscal 2023 q3)
2023 q2
2023-08-03 ET (fiscal 2023 q2)
2023 q1
2023-05-04 ET (fiscal 2023 q1)
2022 q4
2023-03-02 ET (fiscal 2022 q4)
2022 q3
2022-10-27 ET (fiscal 2022 q3)
2022 q2
2022-07-28 ET (fiscal 2022 q2)
2022 q1
2022-05-06 ET (fiscal 2022 q1)

Press-releases

Show financial reports only

2024-03-11 22:57 ET
AMBEV'S 2023 ANNUAL REPORT ON FORM 20-F AVAILABLE ON OUR WEBSITE
2023-03-17 21:48 ET
AMBEV'S 2022 ANNUAL REPORT ON FORM 20-F AVAILABLE ON OUR WEBSITE
2022-03-18 22:32 ET
Ambev’s 2021 Annual Report on Form 20-F Available on Our Website
2021-03-19 23:00 ET
Ambev’s 2020 Annual Report on Form 20-F Available on Our Website
2020-07-30 05:15 ET
Ambev Reports 2020 Second Quarter Results Under IFRS

SEC forms

Show financial reports only

SEC form 6
2024-02-29 10:38 ET
Ambev published news for 2023 q4
SEC form 6
2024-02-29 06:09 ET
Ambev published news for 2023 q4
SEC form 6
2024-02-29 06:09 ET
Ambev published news for 2023 q4
SEC form 6
2024-02-29 06:06 ET
Ambev published news for 2023 q4
SEC form 6
2024-02-29 06:03 ET
Ambev published news for 2023 q4
SEC form 6
2024-02-09 16:33 ET
Ambev published news for 2023 q4
SEC form 6
2024-02-09 16:31 ET
Ambev published news for 2023 q4
SEC form 6
2024-02-09 07:01 ET
Ambev published news for 2023 q4
SEC form 6
2024-02-08 17:02 ET
Ambev published news for 2023 q4
SEC form 6
2024-01-10 16:53 ET
Ambev published news for 2023 q4
SEC form 6
2024-01-09 16:44 ET
Ambev published news for 2023 q4
SEC form 6
2024-01-09 16:42 ET
Ambev published news for 2023 q4
SEC form 6
2023-12-28 19:22 ET
Ambev published news for 2023 q3
SEC form 6
2023-12-27 06:08 ET
Ambev published news for 2023 q3
SEC form 6
2023-12-13 06:06 ET
Ambev published news for 2023 q3
SEC form 6
2023-12-13 06:03 ET
Ambev published news for 2023 q3
SEC form 6
2023-12-08 08:22 ET
Ambev published news for 2023 q3
SEC form 6
2023-12-08 07:58 ET
Ambev published news for 2023 q3
SEC form 6
2023-12-08 07:53 ET
Ambev published news for 2023 q3
SEC form 6
2023-11-24 06:05 ET
Ambev published news for 2023 q3
SEC form 6
2023-11-16 16:20 ET
Ambev published news for 2023 q3
SEC form 6
2023-11-09 16:21 ET
Ambev published news for 2023 q3
SEC form 6
2023-11-09 16:20 ET
Ambev published news for 2023 q3
SEC form 6
2023-10-31 10:30 ET
Ambev published news for 2023 q3
SEC form 6
2023-10-31 06:02 ET
Ambev published news for 2023 q3
SEC form 6
2023-10-10 06:09 ET
Ambev published news for 2023 q3
SEC form 6
2023-10-10 06:08 ET
Ambev published news for 2023 q3
SEC form 6
2023-09-06 18:41 ET
Ambev published news for 2023 q2
SEC form 6
2023-09-06 18:39 ET
Ambev published news for 2023 q2
SEC form 6
2023-09-06 18:38 ET
Ambev published news for 2023 q2
SEC form 6
2023-08-30 17:01 ET
Ambev published news for 2023 q2
SEC form 6
2023-08-08 17:14 ET
Ambev published news for 2023 q2
SEC form 6
2023-08-08 17:13 ET
Ambev published news for 2023 q2
SEC form 6
2023-08-07 17:23 ET
Ambev published news for 2023 q2
SEC form 6
2023-08-03 10:57 ET
Ambev published news for 2023 q2
SEC form 6
2023-08-03 10:03 ET
Ambev published news for 2023 q2
SEC form 6
2023-08-03 06:05 ET
Ambev published news for 2023 q2
SEC form 6
2023-08-03 06:01 ET
Ambev published news for 2023 q2
SEC form 6
2023-07-28 17:06 ET
Ambev published news for 2023 q2
SEC form 6
2023-07-10 17:53 ET
Ambev published news for 2023 q2
SEC form 6
2023-07-10 17:50 ET
Ambev published news for 2023 q2
SEC form 6
2023-06-06 20:07 ET
Ambev published news for 2023 q1
SEC form 6
2023-06-06 17:11 ET
Ambev published news for 2023 q1
SEC form 6
2023-06-06 17:08 ET
Ambev published news for 2023 q1
SEC form 6
2023-05-30 06:08 ET
Ambev published news for 2023 q1
SEC form 6
2023-05-30 06:05 ET
Ambev published news for 2023 q1
SEC form 6
2023-05-18 18:39 ET
Ambev published news for 2023 q1
SEC form 6
2023-05-18 18:38 ET
Ambev published news for 2023 q1
SEC form 6
2023-05-09 17:31 ET
Ambev published news for 2023 q1
SEC form 6
2023-05-09 17:30 ET
Ambev published news for 2023 q1
SEC form 6
2023-05-05 17:28 ET
Ambev published news for 2023 q1
SEC form 6
2023-05-01 06:12 ET
Ambev published news for 2023 q1
SEC form 6
2023-05-01 06:06 ET
Ambev published news for 2023 q1
SEC form 6
2023-05-01 06:06 ET
Ambev published news for 2023 q1
SEC form 6
2023-04-27 21:55 ET
Ambev published news for 2023 q1
SEC form 6
2023-04-25 18:44 ET
Ambev published news for 2023 q1
SEC form 6
2023-04-25 18:41 ET
Ambev published news for 2023 q1