B3 · BRL

ABEV3

Ambev SA

R$15.36+0.59% (R$0.09)Updated 10/1/26, 2:16 AM

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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ABEV3 in numbers

Market cap: R$237.8B

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

10/01/202509/30/2026

Compare with

ABEV3 risk and return

Monthly closes adjusted for splits and distributions.

Metric	12 months	36 months	60 months
Return	+34.90%	+40.68%	+31.84%
Volatility (annualized)	22.34%	20.29%	19.40%
Largest drawdown	-10.82%	-16.90%	-22.71%
Positive months	8/12	17/36	28/60

How much did investing in ABEV3 return?

Amount invested

R$1,000.00 invested on 09/01/2021 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$15.3B
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 stocks yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years over 6%.

Graham ignores growth and debt; Bazin assumes past distributions repeat. They are references to compare, not a buy recommendation.

ABEV3's indicators by year

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

Indicator	2025	2024	2023	2022	2021	2020	2019	2018
P/E	14.09	12.82	14.92	15.82	19.22	21.65	24.94	21.94
P/B	2.46	1.86	2.70	2.75	2.90	3.28	4.70	4.20
EV/EBITDA	6.76	5.56	8.26	9.39	10.33	11.11	13.85	11.18
Dividend yield	9.15%	2.09%	5.32%	5.25%	4.40%	2.64%	2.63%	3.58%
Earnings per share	R$0.98	R$0.92	R$0.92	R$0.92	R$0.80	R$0.72	R$0.75	R$0.70
Book value per share	R$5.63	R$6.32	R$5.09	R$5.29	R$5.33	R$4.77	R$3.98	R$3.66
ROE	17.46%	14.50%	18.09%	17.35%	15.08%	15.14%	18.83%	19.16%
ROIC	26.81%	22.67%	27.52%	24.58%	23.55%	22.65%	28.09%	30.21%
Gross margin	51.42%	51.24%	50.72%	49.29%	51.05%	53.64%	58.79%	61.64%
EBITDA margin	33.79%	31.92%	30.93%	29.02%	30.31%	35.82%	39.12%	41.48%
Net margin	17.57%	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's financial statements

Line	2025	2024	2023	2022	2021	2020
Net revenue	R$88.2B	R$89.5B	R$79.7B	R$79.7B	R$72.9B	R$58.4B
Cost of revenue	-R$42.9B	-R$43.6B	-R$39.3B	-R$40.4B	-R$35.7B	-R$27.1B
Gross profit	R$45.4B	R$45.8B	R$40.4B	R$39.3B	R$37.2B	R$31.3B
EBITDA	R$29.8B	R$28.6B	R$24.7B	R$23.1B	R$22.1B	R$20.9B
EBIT	R$23.4B	R$21.8B	R$18.6B	R$17.7B	R$17B	R$15.9B
Financial result	-R$4B	-R$2.3B	-R$3.6B	-R$3.4B	-R$3.2B	-R$2.4B
Income before tax	R$19.4B	R$19.5B	R$15B	R$14.2B	R$13.8B	R$13.5B
Income tax	-R$3.4B	-R$4.6B	-R$75.5M	R$655.6M	-R$636.6M	-R$1.8B
Net income	R$15.5B	R$14.4B	R$14.5B	R$14.5B	R$12.7B	R$11.4B

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.

Stock	P/E	P/B	Dividend yield (12m)	ROE	Market cap
ABEV3Ambev	14.64	2.69	5.51%	18.40%	R$237.8B
MBRF3MBRF3	63.49	2.03	0.00%	3.20%	R$23.2B
NATU3NATURA COSMETICOS S.A.	-1.32	0.62	0.00%	-47.14%	R$9.3B
ALPA4ALPARGATAS S.A.	13.82	2.68	12.66%	19.37%	R$8.3B
ALPA3ALPARGATAS S.A.	9.95	1.93	17.10%	19.37%	R$8.3B
MDIA3M.DIAS BRANCO S.A. IND COM DE ALIMENTOS	8.56	0.65	5.83%	7.65%	R$5.6B

Does ABEV3 pay dividends?

Announced payments
Type	Last day to own	Payment	Per share
Interest on equity	12/18/2025	10/06/2026	R$0.12
Interest on equity	09/21/2026	12/31/2026	R$0.07
Interest on equity	06/22/2026	12/31/2026	R$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
Type	Last day to own	Payment	Per share
Interest on equity	12/18/2025	07/06/2026	R$0.08
Interest on equity	12/18/2025	04/06/2026	R$0.08
Dividend	12/18/2025	12/30/2025	R$0.46
Dividend	08/07/2025	10/06/2025	R$0.13
Dividend	05/15/2025	07/07/2025	R$0.13
Dividend	03/14/2025	04/04/2025	R$0.13
Dividend	12/19/2024	01/07/2025	R$0.42
Interest on equity	12/19/2024	12/30/2024	R$0.24
Interest on equity	12/19/2023	12/28/2023	R$0.73
Interest on equity	12/19/2022	12/29/2022	R$0.76
Interest on equity	12/17/2021	12/30/2021	R$0.47
Dividend	12/17/2021	12/30/2021	R$0.13

See all 39 distributions

Earlier distributions
Type	Last day to own	Payment	Per share
Dividend	01/13/2021	01/28/2021	R$0.08
Interest on equity	12/17/2020	12/30/2020	R$0.41
Interest on equity	12/19/2019	12/30/2019	R$0.49
Interest on equity	12/18/2018	12/28/2018	R$0.32
Dividend	06/15/2018	07/30/2018	R$0.16
Dividend	01/31/2018	02/22/2018	R$0.07
Interest on equity	12/18/2017	12/28/2017	R$0.31
Dividend	06/23/2017	07/17/2017	R$0.16
Dividend	01/23/2017	02/23/2017	R$0.07
Interest on equity	12/21/2016	12/29/2016	R$0.22
Dividend	10/31/2016	11/25/2016	R$0.16
Dividend	07/11/2016	07/29/2016	R$0.13
Interest on equity	01/29/2016	02/29/2016	R$0.13
Interest on equity	12/21/2015	12/29/2015	R$0.15
Dividend	09/08/2015	09/28/2015	R$0.15
Interest on equity	06/01/2015	06/29/2015	R$0.10
Interest on equity	01/07/2015	01/29/2015	R$0.10
Interest on equity	12/30/2014	01/14/2015	R$0.13
Dividend	10/27/2014	11/12/2014	R$0.22
Interest on equity	07/28/2014	08/28/2014	R$0.10
Dividend	07/28/2014	08/27/2014	R$0.06
Dividend	04/02/2014	04/25/2014	R$0.06
Dividend	04/02/2014	04/25/2014	R$0.07
Dividend	01/14/2014	01/23/2014	R$0.10
Interest on equity	01/14/2014	01/23/2014	R$0.15
Interest on equity	02/27/2015	—	R$0.03
Interest on equity	02/27/2015	—	R$0.06

Splits, reverse splits and bonus shares
Event	Last day to own	Ratio
Split	11/08/2013	5 for 1
Split	12/17/2010	5 for 1
Reverse split	08/02/2007	1 for 20
Split	06/01/2005	6 for 5
Reverse split	10/20/2000	1 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: 15.48B common
Average daily trading: R$423.7M
Ibovespa weight: 2.38%
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 12/31/2026, from the Formulário de Referência filed with the CVM.
Shareholder	Common	Preferred	Total
Interbrew International BVControlling	54.52%	0.00%	54.52%
Fundação Zerrenner	10.40%	0.00%	10.40%
Ambrew S.à.r.l	8.32%	0.00%	8.32%
Outros	26.33%	0.00%	26.33%
Ações Tesouraria	0.44%	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 10/01/2026.

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 10/06/2026.

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 34.90% in 12 months, with annualized volatility of 22.34% and a largest drawdown of -10.82%.

What sector is ABEV3 in?

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