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B3 · BRL

ABEV3

Ambev SA

R$15.36+0.59% (R$0.09)
Day's range
R$15.31 – R$15.59
Day's volume
R$383.1m
52-week range
R$11.68 – R$17.04

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See how ABEV3 weighs in your net worth, what it has paid you and how far it is from your target allocation.

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ABEV3 in numbers

Market cap
R$237.8bn
P/E
14.64
P/B
2.69
Dividend yield (12m)
5.51%
Net debt/EBITDA
-0.51

The 12-month dividend yield of ABEV3 is 5.51%, above its 5-year average of 5.24%.

ABEV3 price history

01/10/202530/09/2026
Compare with

ABEV3 risk and return

Monthly closes adjusted for splits and distributions.

Metric12 months36 months60 months
Return+28.49%+43.60%+18.88%
Volatility (annualised)22.30%20.22%18.81%
Largest drawdown-10.82%-16.90%-22.71%
Positive months8/1218/3628/60

How much did investing in ABEV3 return?

R$1,000.00 invested on 01/09/2021 would be worth R$1,318.43 today.

Value today in ABEV3
R$1,318.43
Return over the period
+31.84%
Return per year
+5.69%
In the Ibovespa
R$1,657.66

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

ABEV3 fundamentals

Valuation

  • P/E
    14.64
  • P/B
    2.69
  • EV/EBITDA
    7.34
  • EV/EBIT
    9.22
  • EV/Revenue
    2.52
  • P/EBIT
    9.86
  • P/S
    2.69
  • P/OCF
    8.47
  • P/FCF
    11.01
  • Earnings yield
    10.84%
  • PEG ratio
    1.44
  • Earnings per share
    R$1.05
  • Book value per share
    R$5.70

Debt

  • Net debt
    -R$15.3bn
  • Net debt/EBITDA
    -0.51
  • Net debt/Equity
    -0.17
  • Debt/Equity
    0.03
  • Current ratio
    1.02
  • Quick ratio
    0.76
  • Cash ratio
    0.46

Efficiency

  • Gross margin
    51.90%
  • EBITDA margin
    34.33%
  • Operating margin
    27.34%
  • Net margin
    18.98%
  • Asset turnover
    0.64

Profitability

  • ROE
    18.40%
  • ROA
    12.12%
  • ROIC
    26.92%
  • Payout
    80.67%

Growth

  • Revenue CAGR (5 years)
    5.82%
  • Earnings CAGR (5 years)
    2.20%
  • Revenue growth (year)
    -1.35%
  • Earnings growth (year)
    7.38%
  • Revenue growth (quarter)
    -3.76%
  • Earnings growth (quarter)
    10.13%

What is ABEV3's fair price?

Two classic value formulas, with today's numbers. The current price is R$15.36.

Graham's fair price
R$11.60
24.46% below the price

√(22.50 × R$1.05 × R$5.70)

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price
R$12.29
20.02% below the price

R$0.74 (5-year average) ÷ 6%

Décio Bazin only bought shares yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years divided by 6%.

Graham ignores growth and debt; Bazin assumes past distributions will repeat. They are reference points for comparison, not a buy recommendation.

ABEV3 indicators by year

Multiples at each year's closing price; margins and returns from that year's accounts.

Indicator20252024202320222021202020192018
P/E14.0912.8214.9215.8219.2221.6524.9421.94
P/B2.461.862.702.752.903.284.704.20
EV/EBITDA6.765.568.269.3910.3311.1113.8511.18
Dividend yield9.15%2.09%5.32%5.25%4.40%2.64%2.63%3.58%
Earnings per shareR$0.98R$0.92R$0.92R$0.92R$0.80R$0.72R$0.75R$0.70
Book value per shareR$5.63R$6.32R$5.09R$5.29R$5.33R$4.77R$3.98R$3.66
ROE17.46%14.50%18.09%17.35%15.08%15.14%18.83%19.16%
ROIC26.81%22.67%27.52%24.58%23.55%22.65%28.09%30.21%
Gross margin51.42%51.24%50.72%49.29%51.05%53.64%58.79%61.64%
EBITDA margin33.79%31.92%30.93%29.02%30.31%35.82%39.12%41.48%
Net margin17.57%16.14%18.19%18.14%17.39%19.49%22.40%21.95%
Net debt/EBITDA-0.57-0.92-0.52-0.50-0.69-0.67-0.43-0.43

ABEV3 financial statements

Line202520242023202220212020
Net revenueR$88.2bnR$89.5bnR$79.7bnR$79.7bnR$72.9bnR$58.4bn
Cost of sales-R$42.9bn-R$43.6bn-R$39.3bn-R$40.4bn-R$35.7bn-R$27.1bn
Gross profitR$45.4bnR$45.8bnR$40.4bnR$39.3bnR$37.2bnR$31.3bn
EBITDAR$29.8bnR$28.6bnR$24.7bnR$23.1bnR$22.1bnR$20.9bn
EBITR$23.4bnR$21.8bnR$18.6bnR$17.7bnR$17bnR$15.9bn
Net finance result-R$4bn-R$2.3bn-R$3.6bn-R$3.4bn-R$3.2bn-R$2.4bn
Profit before taxR$19.4bnR$19.5bnR$15bnR$14.2bnR$13.8bnR$13.5bn
Income tax-R$3.4bn-R$4.6bn-R$75.5mR$655.6m-R$636.6m-R$1.8bn
Net incomeR$15.5bnR$14.4bnR$14.5bnR$14.5bnR$12.7bnR$11.4bn

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

ABEV3 against its sector

The same indicators for the company's other shares and the sector's largest stocks.

StockP/EP/BDividend yield (12m)ROEMarket cap
ABEV3Ambev14.642.695.51%18.40%R$237.8bn
MBRF3MBRF364.212.060.00%3.20%R$23.4bn
NATU3NATURA COSMETICOS S.A.-1.290.610.00%-47.14%R$9.1bn
ALPA4ALPARGATAS S.A.13.822.6812.66%19.37%R$8.3bn
ALPA3ALPARGATAS S.A.9.991.9317.03%19.37%R$8.4bn
MDIA3M.DIAS BRANCO S.A. IND COM DE ALIMENTOS8.640.665.78%7.65%R$5.6bn

Does ABEV3 pay dividends?

Announced payments
TypeLast day to ownPaymentPer share
Interest on equity18/12/202506/10/2026R$0.12
Interest on equity21/09/202631/12/2026R$0.07
Interest on equity22/06/202631/12/2026R$0.04

Dividend yield per year

  • 2.54%2017
  • 3.58%2018
  • 2.63%2019
  • 2.64%2020
  • 4.40%2021
  • 5.25%2022
  • 5.32%2023
  • 2.09%2024
  • 9.15%2025
  • 0.98%2026
Payment history
TypeLast day to ownPaymentPer share
Interest on equity18/12/202506/07/2026R$0.08
Interest on equity18/12/202506/04/2026R$0.08
Dividend18/12/202530/12/2025R$0.46
Dividend07/08/202506/10/2025R$0.13
Dividend15/05/202507/07/2025R$0.13
Dividend14/03/202504/04/2025R$0.13
Dividend19/12/202407/01/2025R$0.42
Interest on equity19/12/202430/12/2024R$0.24
Interest on equity19/12/202328/12/2023R$0.73
Interest on equity19/12/202229/12/2022R$0.76
Interest on equity17/12/202130/12/2021R$0.47
Dividend17/12/202130/12/2021R$0.13
See all 39 distributions
Earlier distributions
TypeLast day to ownPaymentPer share
Dividend13/01/202128/01/2021R$0.08
Interest on equity17/12/202030/12/2020R$0.41
Interest on equity19/12/201930/12/2019R$0.49
Interest on equity18/12/201828/12/2018R$0.32
Dividend15/06/201830/07/2018R$0.16
Dividend31/01/201822/02/2018R$0.07
Interest on equity18/12/201728/12/2017R$0.31
Dividend23/06/201717/07/2017R$0.16
Dividend23/01/201723/02/2017R$0.07
Interest on equity21/12/201629/12/2016R$0.22
Dividend31/10/201625/11/2016R$0.16
Dividend11/07/201629/07/2016R$0.13
Interest on equity29/01/201629/02/2016R$0.13
Interest on equity21/12/201529/12/2015R$0.15
Dividend08/09/201528/09/2015R$0.15
Interest on equity01/06/201529/06/2015R$0.10
Interest on equity07/01/201529/01/2015R$0.10
Interest on equity30/12/201414/01/2015R$0.13
Dividend27/10/201412/11/2014R$0.22
Interest on equity28/07/201428/08/2014R$0.10
Dividend28/07/201427/08/2014R$0.06
Dividend02/04/201425/04/2014R$0.06
Dividend02/04/201425/04/2014R$0.07
Dividend14/01/201423/01/2014R$0.10
Interest on equity14/01/201423/01/2014R$0.15
Interest on equity27/02/2015—R$0.03
Interest on equity27/02/2015—R$0.06
Splits, share consolidations and bonus shares
EventLast day to ownRatio
Split08/11/20135 for 1
Split17/12/20105 for 1
Share consolidation02/08/20071 for 20
Split01/06/20056 for 5
Share consolidation20/10/20001 for 5

About Ambev

Sector
Consumo Não Cíclico
Segment
Cervejas e Refrigerantes
Listing segment
Traditional
Tag along
80.00%
Free float
26.11%
Shares issued
15.48bn ordinary
Average daily trading
R$423.7m
Ibovespa weight
2.40%
Listed since
11/11/2013
CNPJ
07.526.557/0001-00

A Ambev S.A. é uma companhia brasileira de bebidas, controlada indiretamente pela AB InBev, com foco principal em cerveja e atuação complementar em refrigerantes e bebidas não alcoólicas. A empresa foi formada pela combinação entre Brahma e Antarctica e hoje opera uma plataforma integrada de produção, distribuição e comercialização em larga escala, com capilaridade relevante no varejo e no canal on-trade. No portfólio, a companhia combina marcas próprias e licenciadas. Em cerveja, inclui marcas como Skol, Brahma, Antarctica, Quilmes e outras regionais, além de rótulos globais licenciados. Fora cerveja, atua em refrigerantes, água, energéticos, isotônicos, chás prontos e outras categorias, incluindo a operação de produtos PepsiCo em mercados onde possui franquia de engarrafamento e distribuição. A estrutura operacional é organizada em geografias relevantes para o resultado consolidado, com destaque para Brasil, América Central e Caribe, América Latina Sul e Canadá. Esse desenho combina mercados maduros e de crescimento, com diferentes níveis de premiumização, mix de embalagens e dinâmica de consumo, sustentando uma estratégia de volume, receita por hectolitro e eficiência operacional. No mercado brasileiro, a Ambev ocupa posição líder em cerveja e mantém presença relevante em não alcoólicos, apoiada por escala industrial, marcas de alta lembrança e rede de distribuição abrangente. Em termos de alcance geográfico, a companhia reporta operações em 18 países nas Américas, com exposição tanto a mercados de grande porte quanto a operações regionais em Caribe e América Latina.

Investor website
ShareholdersAs of 31/12/2026, from the Formulário de Referência filed with the CVM.
ShareholderOrdinaryPreferredTotal
Interbrew International BVControlling54.52%0.00%54.52%
Fundação Zerrenner10.40%0.00%10.40%
Ambrew S.à.r.l8.32%0.00%8.32%
Outros26.33%0.00%26.33%
Ações Tesouraria0.44%0.00%0.44%

Questions about ABEV3

How much is ABEV3 today?

ABEV3 is at R$15.36 (0.59% on the day), last traded on 30/09/2026.

How much did ABEV3 pay in dividends in 2025?

ABEV3 paid R$1.27 per share in 2025, a dividend yield of 9.15%.

When is the next ABEV3 dividend?

The next announced payment is R$0.12 per share on 06/10/2026.

What are the P/E and P/B of ABEV3?

ABEV3 trades at a P/E of 14.64 and a P/B of 2.69.

How much did ABEV3 return in 12 months?

ABEV3 returned 28.49% in 12 months, with annualised volatility of 22.30% and a largest drawdown of -10.82%.

What sector is ABEV3 in?

Ambev is in the Consumo Não Cíclico sector, Cervejas e Refrigerantes segment.