ABEV financial statements
The full income statement, balance sheet, and cash-flow statement for Ambev S.A. American Depositary Shares (Each representing 1 Common Share) (ABEV), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 15.8B-4.7% | 16.6B+3.8% | 16.0B+3.4% | 15.4B+14.3% | 13.5B+19.1% | |
| 8.12B-4.4% | 8.49B+4.9% | 8.10B+6.4% | 7.61B+10.4% | 6.89B+13.4% | ||
| Cost of revenue | 7.67B-5.1% | 8.08B+2.7% | 7.87B+0.5% | 7.83B+18.4% | 6.61B+25.8% | |
| Operating income | 4.17B+3.3% | 4.04B+7.1% | 3.77B+10.1% | 3.43B+8.2% | 3.17B+2.1% | |
| Interest expense | 789M+5.7% | 746M-24.2% | 985M-28.8% | 1.38B+37.5% | 1.01B-4.6% | |
| Pre-tax income | 3.47B-3.7% | 3.61B+19.9% | 3.01B+9.2% | 2.76B+8.1% | 2.55B-2.7% | |
| Income tax | — | — | -15.1M-111.9% | 127M+207.6% | -118M-134.5% | |
| 2.86B+4.0% | 2.75B-8.2% | 2.99B+3.9% | 2.88B+18.6% | 2.43B+6.8% | ||
| Net income to common | 2.77B+3.7% | 2.67B-7.9% | 2.90B+3.7% | 2.80B+19.2% | 2.35B+6.3% | |
| $0.18+4.6% | $0.17-7.8% | $0.18+3.7% | $0.18+19.3% | $0.15+6.4% | ||
| EPS (basic) | $0.18+4.5% | $0.17-7.8% | $0.18+3.7% | $0.18+19.2% | $0.15+6.3% | |
| Weighted-avg shares (basic) | 15.6B-0.7% | 15.7B-0.1% | 15.7B+0.0% | 15.7B+0.0% | 15.7B+0.0% | |
| Weighted-avg shares (diluted) | 15.7B-0.8% | 15.8B-0.2% | 15.8B-0.1% | 15.8B-0.1% | 15.9B-0.1% | |
| Dividends per share | — | — | $0.01+57.3% | $0.00-85.9% | $0.03+49.6% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 7.99B-8.8% | 8.76B+16.2% | 7.54B+5.3% | 7.15B+3.2% | 6.93B+1.9% | ||
| Cash & equivalents | 3.39B-26.6% | 4.62B+39.7% | 3.31B+17.2% | 2.82B-5.4% | 2.99B-9.3% | |
| Accounts receivable | 1.16B+14.0% | 1.01B-14.3% | 1.18B+16.9% | 1.01B+17.6% | 860M+3.8% | |
| Inventory | 1.91B+1.3% | 1.89B-4.7% | 1.98B-18.9% | 2.44B+23.8% | 1.97B+34.9% | |
| 26.4B+0.5% | 26.3B-3.9% | 27.3B+4.8% | 26.1B+4.9% | 24.9B+3.2% | ||
| Property, plant & equipment | 5.03B+3.1% | 4.88B-11.1% | 5.49B-3.5% | 5.69B+8.4% | 5.25B+10.0% | |
| Goodwill | 7.56B+5.4% | 7.17B-8.5% | 7.83B+2.0% | 7.68B+0.9% | 7.61B-1.2% | |
| Total non-current assets | 18.4B+5.1% | 17.5B-11.5% | 19.8B+4.5% | 18.9B+5.5% | 17.9B+3.7% | |
| 8.30B+3.9% | 7.99B-5.5% | 8.45B+10.2% | 7.67B+9.9% | 6.98B+8.3% | ||
| Short-term & current debt | 212M+2.9% | 206M-22.9% | 268M+43.9% | 186M+22.2% | 152M-71.2% | |
| 10.2B+0.7% | 10.2B-6.0% | 10.8B+4.7% | 10.3B+5.5% | 9.80B+1.7% | ||
| Long-term debt | 404M+14.8% | 352M-22.5% | 454M-13.9% | 527M+30.4% | 405M+2.3% | |
| 16.0B+0.3% | 15.9B-2.0% | 16.3B+5.0% | 15.5B+4.5% | 14.8B+4.4% | ||
| Total equity incl. non-controlling | 16.2B+0.4% | 16.1B-2.5% | 16.5B+4.8% | 15.8B+4.5% | 15.1B+4.2% | |
| Common shares outstanding | 15.8B+0.0% | 15.8B+0.0% | 15.8B+0.0% | 15.8B+0.0% | 15.7B | |
| Shares outstanding (cover) | 15.8B+0.0% | 15.8B+0.0% | 15.8B+0.0% | 15.8B+0.1% | 15.7B+0.1% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 4.37B-9.5% | 4.83B-2.3% | 4.95B+23.7% | 4.00B-5.8% | 4.24B+16.0% | ||
| Depreciation & amortization | 1.22B-6.9% | 1.31B+2.2% | 1.28B+11.6% | 1.15B+14.7% | 1.00B-0.1% | |
| Intangible amortization | 168M+6.8% | 157M+14.1% | 137M+41.3% | 97.3M+29.6% | 75.0M-24.5% | |
| Capital expenditure | 821M-6.6% | 880M-26.8% | 1.20B-5.0% | 1.27B-11.1% | 1.42B+56.2% | |
| Free cash flow | 3.55B-10.2% | 3.95B+5.6% | 3.74B+37.1% | 2.73B-3.2% | 2.82B+2.6% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt issued | 9.14M-89.9% | 90.6M+808.7% | 9.97M-81.3% | 53.2M-8.9% | 58.4M-92.0% | |
| Long-term debt repaid | 31.8M-71.6% | 112M+146.0% | 45.5M+2.1% | 44.6M-90.2% | 455M+14.7% | |
| Common stock issued | -7.07M-179.3% | 8.91M+206.9% | 2.90M-36.8% | 4.59M+175.2% | 1.67M | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 0.00 | 0.00-100.0% | 109M+57.3% | 69.2M-85.9% | 491M+49.7% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 38.9B+33.5% | 29.2B-33.9% | 44.1B+3.0% | 42.8B-2.9% | 44.1B-8.4% | |
| P/E | 13.6×+28.4% | 10.6×-30.7% | 15.3×-13.1% | 17.6×-2.9% | 18.1×-14.3% | |
| P/S | 2.5×+40.2% | 1.8×-38.4% | 2.9×-9.9% | 3.2×-2.9% | 3.3×-23.2% | |
| P/B | 2.4×+33.1% | 1.8×-35.7% | 2.8×-1.4% | 2.9×-2.9% | 3.0×-12.3% | |
| P/FCF | 11.0×+48.6% | 7.4×-54.3% | 16.1×+6.4% | 15.2×-2.9% | 15.6×-10.8% | |
| Earnings yield | 7.3%-22.1% | 9.4%+44.3% | 6.5%+15.1% | 5.7%+2.9% | 5.5%+16.6% | |
| FCF yield | 9.1%-32.7% | 13.6%+118.9% | 6.2%-6.0% | 6.6%+2.9% | 6.4%+12.1% | |
| Dividend yield | — | — | 0.25%+52.8% | 0.16%-85.5% | 1.1%+63.5% | |
| Source filing | 20-F | 20-F | 20-F | 20-F | 20-F |
About this data
Source: ABEV’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all ABEV filings on SEC EDGAR → Not investment advice.