Companies › Ambev S.A.

Ambev S.A. (ABEV): Financial Statements and Key Figures

Ambev S.A. (ticker ABEV) is classified by the SEC under industry code 2080, Beverages, and is listed on NYSE. It files its annual report with the U.S. Securities and Exchange Commission (SEC) on Form 20-F and reports in BRL. Its fiscal 2025 ended on 31 December 2025; the annual report for that year was filed on 3 March 2026. For that year it reported revenue of BRL 88,243 million, net income of BRL 15,503 million and total assets of BRL 145,087 million at the year end. Fiscal years 2016 to 2025 are shown below.

The figures are as the company filed them, standardised by reporting tag; the filing is the authority. For education and analysis, not investment advice.

Key Figures

Money in BRL millions; earnings per share in BRL. Free cash flow is the cash from operating activities less capital expenditures. Total debt is short-term plus long-term debt, or the total the company itself tags when that is larger. A margin is the profit line divided by revenue; return on equity is net income divided by the average of shareholders' equity at the start and the end of the year. A blank cell means the company does not report the line under a standard tag; it does not mean zero.

Table 1: Key figures of Ambev S.A. by fiscal year
Fiscal year2016201720182019202020212022202320242025
year ended on31 Dec31 Dec31 Dec31 Dec31 Dec31 Dec31 Dec31 Dec31 Dec31 Dec
Revenue (BRL millions)45,60347,89950,23152,00558,37972,85479,70979,73789,45388,243
Net income (BRL millions)12,5477,26910,99511,78011,37912,67114,45814,50214,43715,503
Earnings per share, diluted (BRL)0.790.460.690.740.720.800.910.920.910.99
Cash from operating activities (BRL millions)12,34418,26118,34618,38118,85622,90120,64224,71126,09924,450
Free cash flow (BRL millions)8,30915,05714,77513,31214,16315,22414,10918,70721,35019,860
Total assets (BRL millions)83,84186,85295,714101,743125,196138,603137,958132,644162,508145,087
Total debt (BRL millions)5,3962,5534,10428,65237,14642,0773,7713,5013,4533,387
Shareholders' equity (BRL millions)44,82546,00956,24861,27873,81682,64381,95678,96998,64287,914
Gross margin63.4 %62.4 %61.7 %58.3 %53.6 %51.1 %49.3 %50.7 %51.2 %51.4 %
Operating margin37.5 %34.6 %34.1 %30.9 %27.4 %23.4 %22.2 %23.6 %24.4 %26.4 %
Net margin27.5 %15.2 %21.9 %22.7 %19.5 %17.4 %18.1 %18.2 %16.1 %17.6 %
Return on equity26.4 %16.0 %21.5 %20.0 %16.8 %16.2 %17.6 %18.0 %16.3 %16.6 %

Last twelve months: not shown. No quarterly reports in XBRL (the company files annual, half-year or current reports only): no last-twelve-month figures, none estimated.

Charts

Figure 1: Revenue and net income by fiscal year (BRL millions)

Figure 2: Cash from operating activities and free cash flow by fiscal year (BRL millions)

Compound Growth

The compound annual growth rate is the single yearly rate that, applied every year, takes the first value to the last one: the last value divided by the first, raised to the power of one over the number of years, less one. It uses only the two end values, so an unusual first or last year moves it a great deal.

  • Revenue: 46,720 in fiscal 2015 to 88,243 in fiscal 2025 (BRL millions), 10 years: 6.6 % a year.
  • Diluted earnings per share: 0.79 in fiscal 2015 to 0.99 in fiscal 2025 (BRL per share), 10 years: 2.3 % a year.

Analyse This Company

Each link opens a calculator with Ambev S.A. loaded from the same data.

  • Company Financial Statements: The full income statement, balance sheet and cash flow statement of each fiscal year, with common-size and growth views.
  • Capital Allocation History: Where the cash from operations went each year: capital expenditures, dividends, share repurchases, debt.
  • Dividend Sustainability: How the dividends paid compare with earnings and with free cash flow, year by year.
  • Earnings Quality Trend: How much of reported earnings arrived as cash, and how accruals moved over the years.
  • Reverse DCF: The growth in free cash flow that a share price you type would assume.
  • Financial Quality Scores: The Piotroski F-score and the DuPont breakdown of return on equity, worked step by step.
  • Valuation Range: What a share price you type corresponds to as multiples of earnings, cash flow and book value, against the company's own history.

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Same Industry

The 5 other companies in the data with the industry code 2080 (Beverages), in alphabetical order; the index lists every company.

Source

The annual report first filed for each fiscal year, with a link to its index page on EDGAR, the SEC's filing system. A later annual report repeats earlier years for comparison and sometimes restates them; where a value was taken from a later report, the last column gives the date of the latest one used.

Table 2: The filing behind each fiscal year
Fiscal yearYear endedFormFiledOn EDGARLater report used, filed
202531 Dec 2025Form 20-F3 Mar 2026filing index
202431 Dec 2024Form 20-F12 Mar 2025filing index3 Mar 2026
202331 Dec 2023Form 20-F11 Mar 2024filing index3 Mar 2026
202231 Dec 2022Form 20-F17 Mar 2023filing index12 Mar 2025
202131 Dec 2021Form 20-F18 Mar 2022filing index11 Mar 2024
202031 Dec 2020Form 20-F22 Mar 2021filing index17 Mar 2023
201931 Dec 2019Form 20-F24 Mar 2020filing index18 Mar 2022
201831 Dec 2018Form 20-F22 Mar 2019filing index22 Mar 2021
201731 Dec 2017Form 20-F19 Mar 2018filing index24 Mar 2020
201631 Dec 2016Form 20-F19 Mar 2018filing index22 Mar 2019
  • The figures are as filed with the SEC and standardised by reporting tag. The filing is the authority: check it before relying on a number.
  • A blank cell means the company does not tag that line, or the tagged figure is withheld as incomplete. It does not mean zero.
  • Currency: every figure is in the currency the company reported that year (BRL here). Nothing is converted.
  • Per-share figures are adjusted for stock splits detected from the company's own restated figures, except where a year is flagged; the as-filed values are in the filings.
  • For a bank, broker, insurer or other financial company (SIC codes 6000 to 6799) net debt, EBITDA, the current ratio and debt to equity are not meaningful and the tools show them as n/m.
  • A fiscal year is named after the calendar year in which it ends. The data is updated from time to time, not daily; this company's figures were loaded on 13 November 2026.

For education and analysis, not investment advice.