Ambev S.A.

ABEV

$3.04

+1.67%

2026-09-03 16:00:03 EDT+$0.05

Consumer Defensive

Beverages - Alcoholic

NYSE

Active Trading

Ambev S.A., operating through its various subsidiaries, is a prominent player in the beverage and food industry across the Americas. The company ...

Price Action of ABEV

$3.04

+1.67%+$0.05

High—

Low—

52W High-11.6%

Rel. vol—

Interval

Range6.5h

Volume—SMA5SMA10

—

Ambev S.A. (trading as ABEV on the NYSE as an ADR) is one of the largest beverage companies in the Americas, producing and distributing both alcoholic and non-alcoholic beverages. Based in São Paulo, Brazil, the company was founded in 1885 and has grown into a large multinational through a combination ...Ambev S.A. (trading as ABEV on the NYSE as an ADR) is one of the largest beverage companies in the Americas, producing and distributing both alcoholic and non-alcoholic beverages. Based in São Paulo, Brazil, the company was founded in 1885 and has grown into a large multinational through a combination of historical brewery roots and consolidation in the region. Its operations are organized into geographic divisions spanning Brazil, Central America and the Caribbean, Latin America South, and Canada, enabling the company to tailor brands, packaging, and go-to-market approaches to local consumer preferences and regulatory conditions. From a product perspective, Ambev’s core categories include beer (packaged and on tap), carbonated soft drinks, and a wide set of non-alcoholic drinks such as bottled water, isotonic/energy beverages, coconut water, fruit juices (powdered and natural), and ready-to-drink teas. The company’s brand portfolio includes widely recognized beer labels such as Skol, Brahma, Antarctica, and Budweiser (and additional local/international brands), as well as non-alcoholic brands such as Guaraná Antarctica, Pepsi, Canada Dry, Squirt, and Lipton Iced Tea—reflecting both local heritage brands and global partnerships. Operationally, Ambev’s distribution model blends direct distribution with third-party distributors, which helps it scale coverage while managing logistics complexity across large and diverse markets. This structure supports efficient regional routing, availability in different retail formats, and responsiveness to seasonality (for example, higher demand periods for beer and carbonated drinks). In terms of scale, the company employs about 39,606 people (as provided), placing it in the tens-of-thousands workforce range typical for large beverage manufacturers that combine brewing, packaging, logistics, commercial operations, and corporate functions. Financially, Ambev’s business model tends to be characterized by strong margins at scale (driven by brand strength, production efficiency, and volume), while also being exposed to commodity/input costs (e.g., raw materials, packaging), currency movements (given multi-country operations), and demand cyclicality. Key leadership includes CEO Carlos Eduardo Klutzenschell Lisboa (as provided). In the broader InBev group ecosystem context, Ambev benefits from shared capabilities in procurement, brand management, manufacturing know-how, and capital discipline while still operating with a distinct regional brand and distribution footprint. Overall, Ambev’s “wishes” and strategic priorities in practice generally center on maintaining brand leadership, expanding reach of both alcoholic and non-alcoholic beverages, improving operational efficiency and supply-chain performance, and sustaining shareholder returns through dividends and disciplined investment.ExpandCollapse

Founded

1885

Employees

39000

CEO

Carlos Eduardo Klutzenschell Lisboa

Full Name

Ambev S.A.

Sector

Consumer Defensive

Industry

Beverages - Alcoholic

ROE

18.13%

Market Cap

$46.98B

Current Ratio

1.02

WACC

6.62%

ROIC

24.61%

Contact Information

https://www.ambev.com.br

55 11 2122 1414

Rua Dr. Renato Paes de Barros, 1017, São Paulo, SP 04530-001

Key Metrics of ABEV

Snapshot

Latest / TTM · 6 periods

Market Cap

$46.98B

ROCE

23.0%

EV / EBITDA

7.95x

+1.2% YoY

FCF Yield

9.9%

+0.5% YoY

Cash Conversion Cycle

-51.4d

Current Ratio

1.02

Quick take

TTM —

No major risk flags in selected headline metrics.

Financial Highlights of ABEV

Profitability trend

Latest / TTM · 6 periods

Gross Margin

50.1%

Net Margin

18.4%

P/E Ratio

15.15x

n/a

Debt / Equity

0.03

n/a

Current Ratio

1.02

Dividend Yield

4.2%

Understanding

TTM —

No major balance sheet stress in these headline ratios.

Calendar of ABEV

Upcoming

Sep 23, 2026In 19 days
Ex-dividend date
$0.73 per share
Sep 30, 2026In 26 days
Q3 FY2026 · Estimated results
Est. EPS $0.25 · Revenue $22.01B · 2 analysts
Dec 30, 2026
Q4 FY2026 · Estimated results
Est. EPS $0.32 · Revenue $26.05B · 2 analysts
Dec 31, 2026
FY2026 · Estimated annual results
Est. EPS $1.05 · Revenue $91.45B · 5 analysts

Recent history

Jun 30, 2026
Q2 FY2026 · Results reported
EPS BRL 0.22 · Revenue BRL 20.15B
Mar 31, 2026
Q1 FY2026 · Results reported
EPS BRL 0.24 · Revenue BRL 22.46B
Dec 31, 2025
FY2025 · Annual results
EPS BRL 0.99 · Revenue BRL 88.24B
Sep 30, 2025
Q3 FY2025 · Results reported
EPS BRL 0.30 · Revenue BRL 20.85B
Jun 30, 2025
Q2 FY2025 · Results reported
EPS BRL 0.17 · Revenue BRL 20.09B
Mar 31, 2025
Q1 FY2025 · Results reported
EPS BRL 0.23 · Revenue BRL 22.50B

Financial Statements of ABEV

5Y Trend (Revenue, Earnings, FCF)

Metric	Latest	YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.	QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).	$88.2B	-1.4%	-10.3%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.	$15.5B	+7.4%	-10.1%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.	+51.4%	+0.4%	+0.6%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).	+25.3%	+3.8%	-9.6%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.	+17.6%	+8.9%	+0.2%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.	$19.9B	-7.0%	+42.2%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.	+22.5%	-5.7%	+58.6%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.	6.1%	+73.8%	-3.1%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.	0.96x	-12.2%	-0.6%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.	$148.1B	-8.9%	-3.2%

Actual vs Estimate

A Dec 31Q Jun 30

Metric	Annual (A vs E)	Annual Surprise	Quarter (A vs E)	Quarter Surprise
EPS Surprise	0.99 vs 1.00	-0.7%	0.22 vs 0.19	+14.9%
Revenue Surprise	$88.2B vs $90.5B	-2.5%	$20.1B vs $20.9B	-3.8%

Insider Transactions of ABEV

Acquisitions (A)

Since Mar 30, 2026

Disposals (D)

Since Mar 30, 2026

Monthly shares of acquisitions/disposals with close price trend (shared daily price source)

Insider Trading Snapshot

Date	Executive	Title	Security	Side	Shares	Price
Jul 30, 2026	Moreira Ricardo Manuel Frangatos Pires	director	Common Shares	D	468,040	$3.08
May 5, 2026	Zagman Paulo Andre	officer: See Remarks	Common Shares	D	136,250	$3.41
May 4, 2026	Derbli de Carvalho Joao Coelho Rua	officer: See Remarks	Common Shares	—	0	—
May 4, 2026	Derbli de Carvalho Joao Coelho Rua	officer: See Remarks	Restricted Shares	—	38,843	—
Mar 30, 2026	Klutzenschell Lisboa Carlos Eduardo	officer: Chief Executive Officer	Common Shares	A	205,372	$3.11

Earnings Call Transcript of ABEV

1 transcript segments

Q2 2026

Unknown Speaker

Operator: Good afternoon, and thank you for waiting. We would like to welcome everyone to Ambev's 2026 Second Quarter Conference Call. Today with us, we have Mr. Carlos Lisboa, Ambev's CEO; and Mr. Guilherme Fleury, CFO and Investor Relations Officer. As a reminder, this conference presentation is available for download on our website, ri.ambev.com.br as well as through the webcast link. We would like to inform you that this event is being recorded. Before proceeding, let me mention that forward-looking statements are being made under the safe harbor of the Securities Litigation Reform Act of 1996. Forward-looking statements are based on the beliefs and assumptions of Ambev's management and on information currently available to the company. They involve risks, uncertainties and assumptions because they relate to the future events and therefore, depend on circumstances that may or may not occur in the future. Investors should understand that general economic conditions, industry conditions and other operating factors could also affect the future results of Ambev and could cause results to differ materially from those expressed in such forward-looking statements. I would also like to remind everyone that, as usual, the percentage changes that will be discussed during today's call are both organic and normalized in nature and unless otherwise stated, percentage changes refer to comparison with 2025 second quarter results. Normalized figures refer to performance measures before exceptional items, which are either income or expenses that do not occur regularly as part of Ambev's normal activities. As normalized figures are non-GAAP measures, the company disclosed the consolidated profit, EPS, operating profit and EBITDA on a fully reported basis in the earnings release. Now I will turn the conference over to Mr. Carlos Lisboa. Mr. Lisboa, you may begin your conference. Carlos Eduardo Lisboa: Good afternoon, everyone, and thank you for joining our second quarter earnings call. Across our footprint, football is part of our culture, one of the strongest passion points that bring people together, and beer has a unique role in creating such special moments. I want to congratulate all the national teams from our markets that represented their countries in the FIFA World Cup. I also want to recognize our teams for their outstanding execution across Ambev's footprint. Moments like these are also where our company stands out. The World Cup is one of the toughest execution tests in our industry. The challenge goes beyond activating a campaign. It is about turning a tournament into a semester-long platform, activating a portfolio rather than a single brand and connecting consumers and customers across countries, channels and millions of points of sale while building engagement that lasts beyond the final whistle. Across our markets, our brands were among those most associated with the event. We did not just take part of the World Cup. We helped shape the …

Leadership Team of ABEV

10 executives

Name	Title	Gender	Year Born	Status
Guilherme Yokaichiya	Investor Relations Officer	—	—	Active
Stella Pescaroli Lopes	Draftline Media & Data Director	—	—	Active
Carlos Eduardo Klutzenschell Lisboa	Chief Executive Officer & Member of Board of Executive Officers	Male	1969	Active
Valdecir Duarte	Vice President of Supplies & Member of Executive Board	Male	1981	Active
Guilherme Fleury de Figueiredo Ferraz Parolari	CFO, Investor Relations Officer & Member of the Executive Board	Male	—	Active
Guilherme Malik Parente	Legal & Compliance Vice President Officer, Secretary & Member of Executive Board Officers	Male	—	Active
Joao Coelho Rua Derbli de Carvalho	Commercial VP Officer & Member of Executive Board	Male	1983	Active
Paulo André Zagman	Vice President Officer of Logistics & Member of Executive Board of Officers	Male	1977	Active
Carla Smith de Vasconcellos Crippa Prado	VP of Corporate Affairs & Member of Executive Board of Officers	Female	1982	Active
Paula Guz	Director of Marketing Transformation	—	—	Active

Recent News of ABEV

Seeking Alpha7/30/2026Neutral

Ambev S.A. (ABEV) Q2 2026 Earnings Call Transcript

MarketBeat7/30/2026Neutral

Ambev Q2 Earnings Call Highlights

Ambev NYSE: ABEV reported stronger second-quarter operating performance, led by beer-volume growth, revenue management and margin expansion, while continuing to invest in brand activations tied to the FIFA World Cup.

Zacks Investment Research7/21/2026Neutral

CCU vs. ABEV: Which Stock Should Value Investors Buy Now?

Investors interested in stocks from the Beverages - Alcohol sector have probably already heard of Cervecerias Unidas (CCU) and Ambev (ABEV). But which of these two stocks offers value investors a better bang for their buck right now?

Zacks Investment Research6/25/2026Neutral

Ambev (ABEV) Moves to Buy: Rationale Behind the Upgrade

Ambev (ABEV) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Zacks Investment Research6/25/2026Neutral

Are Consumer Staples Stocks Lagging Ambev (ABEV) This Year?

Here is how Ambev (ABEV) and Chefs' Warehouse (CHEF) have performed compared to their sector so far this year.

Historical Employee Count of ABEV

Current

39,606

Change

-6.07%

Minimum

39,606

Maximum

52,806

Recent Filings

Report Date	Employees	Form Type	Filing Date	SEC Filing
Dec 31, 2025	39,606	20-F	Mar 3, 2026	View
Dec 31, 2024	42,167	20-F	Mar 12, 2025	View
Dec 31, 2023	42,774	20-F	Mar 11, 2024	View
Dec 31, 2022	47,108	20-F	Mar 17, 2023	View
Dec 31, 2021	52,806	20-F	Mar 18, 2022	View

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Ambev S.A.