InsiderClue
Stocks · Consumer staples · Beverages

AMBEV S.A.

ABEV Clue Score59
Brazil Fiscal year ends December CIK 0001565025
$3.19 +0.00% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $3.19 +18.15% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue45.60Operating income17.11Net income12.55EPS, diluted0.79Fiscal year 2017Revenue47.90 +5.0%Operating income16.55Net income7.27 −42.1%EPS, diluted0.46 −42.1%Fiscal year 2018Revenue50.23 +4.9%Operating income17.15Net income11.00 +51.3%EPS, diluted0.69 +51.1%Fiscal year 2019Revenue52.01 +3.5%Operating income16.07Net income11.78 +7.1%EPS, diluted0.74 +7.1%Fiscal year 2020Revenue58.38 +12.3%Operating income15.97Net income11.38 −3.4%EPS, diluted0.72 −3.4%Fiscal year 2021Revenue72.85 +24.8%Operating income17.08Net income12.67 +11.4%EPS, diluted0.80 +11.4%Fiscal year 2022Revenue79.71 +9.4%Operating income17.69Net income14.46 +14.1%EPS, diluted0.91 +14.2%Fiscal year 2023Revenue79.74 +0.0%Operating income18.83Net income14.50 +0.3%EPS, diluted0.92 +0.4%Fiscal year 2024Revenue89.45 +12.2%Operating income21.80Net income14.44 −0.4%EPS, diluted0.91 −0.3%Fiscal year 2025Revenue88.24 −1.4%Operating income23.32Net income15.50 +7.4%EPS, diluted0.99 +8.3%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 45.60 47.90 50.23 52.01 58.38 72.85 79.71 79.74 89.45 88.24
Growth +5.0% +4.9% +3.5% +12.3% +24.8% +9.4% +0.0% +12.2% −1.4%
Operating income 17.11 16.55 17.15 16.07 15.97 17.08 17.69 18.83 21.80 23.32
Net income 12.55 7.27 11.00 11.78 11.38 12.67 14.46 14.50 14.44 15.50
Growth −42.1% +51.3% +7.1% −3.4% +11.4% +14.1% +0.3% −0.4% +7.4%
EPS, diluted 0.79 0.46 0.69 0.74 0.72 0.80 0.91 0.92 0.91 0.99
Growth −42.1% +51.1% +7.1% −3.4% +11.4% +14.2% +0.4% −0.3% +8.3%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin63.4%Operating margin37.5%Net margin27.5%Free cash flow margin18.2%Fiscal year 2017Gross margin62.4%Operating margin34.6%Net margin15.2%Free cash flow margin31.4%Fiscal year 2018Gross margin61.7%Operating margin34.1%Net margin21.9%Free cash flow margin29.4%Fiscal year 2019Gross margin58.3%Operating margin30.9%Net margin22.7%Free cash flow margin25.6%Fiscal year 2020Gross margin53.6%Operating margin27.4%Net margin19.5%Free cash flow margin24.3%Fiscal year 2021Gross margin51.1%Operating margin23.4%Net margin17.4%Free cash flow margin20.9%Fiscal year 2022Gross margin49.3%Operating margin22.2%Net margin18.1%Free cash flow margin17.7%Fiscal year 2023Gross margin50.7%Operating margin23.6%Net margin18.2%Free cash flow margin23.5%Fiscal year 2024Gross margin51.2%Operating margin24.4%Net margin16.1%Free cash flow margin23.9%Fiscal year 2025Gross margin51.4%Operating margin26.4%Net margin17.6%Free cash flow margin22.5%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 63.4% 62.4% 61.7% 58.3% 53.6% 51.1% 49.3% 50.7% 51.2% 51.4%
Operating margin 37.5% 34.6% 34.1% 30.9% 27.4% 23.4% 22.2% 23.6% 24.4% 26.4%
Net margin 27.5% 15.2% 21.9% 22.7% 19.5% 17.4% 18.1% 18.2% 16.1% 17.6%
Free cash flow margin 18.2% 31.4% 29.4% 25.6% 24.3% 20.9% 17.7% 23.5% 23.9% 22.5%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow12.34Capital expenditure−4.04Free cash flow8.31Dividends paid−6.01Fiscal year 2017Operating cash flow18.26Capital expenditure−3.20Free cash flow15.06 +81.2%Dividends paid−4.04Fiscal year 2018Operating cash flow18.35Capital expenditure−3.57Free cash flow14.78 −1.9%Buybacks−3.06Dividends paid2.76Fiscal year 2019Operating cash flow18.38Capital expenditure−5.07Free cash flow13.31 −9.9%Buybacks−0.00Dividends paid−0.40Fiscal year 2020Operating cash flow18.86Capital expenditure−4.69Free cash flow14.16 +6.4%Buybacks0.00Dividends paid−1.69Fiscal year 2021Operating cash flow22.90Capital expenditure−7.68Free cash flow15.22 +7.5%Buybacks0.00Dividends paid−2.65Fiscal year 2022Operating cash flow20.64Capital expenditure−6.53Free cash flow14.11 −7.3%Buybacks−0.00Dividends paid−0.36Fiscal year 2023Operating cash flow24.71Capital expenditure−6.00Free cash flow18.71 +32.6%Dividends paid−0.54Fiscal year 2024Operating cash flow26.10Capital expenditure−4.75Free cash flow21.35 +14.1%Buybacks−1.72Fiscal year 2025Operating cash flow24.45Capital expenditure−4.59Free cash flow19.86 −7.0%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 12.34 18.26 18.35 18.38 18.86 22.90 20.64 24.71 26.10 24.45
Capital expenditure −4.04 −3.20 −3.57 −5.07 −4.69 −7.68 −6.53 −6.00 −4.75 −4.59
Free cash flow 8.31 15.06 14.78 13.31 14.16 15.22 14.11 18.71 21.35 19.86
Growth +81.2% −1.9% −9.9% +6.4% +7.5% −7.3% +32.6% +14.1% −7.0%
Buybacks n/a n/a −3.06 −0.00 0.00 0.00 −0.00 n/a −1.72 n/a
Dividends paid −6.01 −4.04 2.76 −0.40 −1.69 −2.65 −0.36 −0.54 n/a n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash7.88Total debt1.77Net cash (debt)6.11Shareholders’ equity44.83Debt to equity0.04Fiscal year 2017Cash10.35Total debt1.23Net cash (debt)9.12Shareholders’ equity46.01Debt to equity0.03Fiscal year 2018Cash11.46Total debt2.16Net cash (debt)9.30Shareholders’ equity56.25Debt to equity0.04Fiscal year 2019Cash11.90Total debt2.41Net cash (debt)9.49Shareholders’ equity61.28Debt to equity0.04Fiscal year 2020Cash17.09Total debt4.79Net cash (debt)12.30Shareholders’ equity73.82Debt to equity0.06Fiscal year 2021Cash16.63Total debt3.10Net cash (debt)13.53Shareholders’ equity82.64Debt to equity0.04Fiscal year 2022Cash14.93Total debt3.77Net cash (debt)11.16Shareholders’ equity81.96Debt to equity0.05Fiscal year 2023Cash16.06Total debt3.50Net cash (debt)12.56Shareholders’ equity78.97Debt to equity0.04Fiscal year 2024Cash28.60Total debt3.45Net cash (debt)25.14Shareholders’ equity98.64Debt to equity0.04Fiscal year 2025Cash18.64Total debt3.39Net cash (debt)15.25Shareholders’ equity87.91Debt to equity0.04
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 7.88 10.35 11.46 11.90 17.09 16.63 14.93 16.06 28.60 18.64
Total debt 1.77 1.23 2.16 2.41 4.79 3.10 3.77 3.50 3.45 3.39
Net cash (debt) 6.11 9.12 9.30 9.49 12.30 13.53 11.16 12.56 25.14 15.25
Shareholders’ equity 44.83 46.01 56.25 61.28 73.82 82.64 81.96 78.97 98.64 87.91
Debt to equity 0.04 0.03 0.04 0.04 0.06 0.04 0.05 0.04 0.04 0.04

In billions of BRL, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
63.4% 62.4% 61.7% 58.3% 53.6% 51.1% 49.3% 50.7% 51.2% 51.4%
37.5% 34.6% 34.1% 30.9% 27.4% 23.4% 22.2% 23.6% 24.4% 26.4%
29.4% 26.8% 26.1% 24.9% 23.1% 18.9% 17.9% 18.9% 21.8% 22.0%
27.5% 15.2% 21.9% 22.7% 19.5% 17.4% 18.1% 18.2% 16.1% 17.6%
18.2% 31.4% 29.4% 25.6% 24.3% 20.9% 17.7% 23.5% 23.9% 22.5%
Spending
4.7% 5.5% 4.7% 5.2% 5.1% 6.7% 6.6% 6.6% 6.9% 6.6%
8.8% 6.7% 7.1% 9.7% 8.0% 10.5% 8.2% 7.5% 5.3% 5.2%
2.4% 39.3% 13.5% 5.8% 13.1% −4.6% 4.6% −0.5% n/a n/a
Returns
28.0% 15.8% 19.5% 19.2% 15.4% 15.3% 17.6% 18.4% 14.6% 17.6%
15.0% 8.2% 11.5% 11.6% 9.1% 9.1% 10.5% 10.9% 8.9% 10.7%
Balance and payout
0.04 0.03 0.04 0.04 0.06 0.04 0.05 0.04 0.04 0.04
44.4% 43.8% 40.0% 38.5% 40.0% 39.4% 39.6% 39.6% 38.7% 38.8%
47.9% 55.6% −25.1% 3.4% 14.8% 20.9% 2.5% 3.8% n/a n/a
72.3% 26.9% 2.0% 3.0% 11.9% 17.4% 2.5% 2.9% 8.0% n/a

Shown in BRL as filed; the screener converts to dollars.