Ambev (ABEV) Stock Analysis

November 11, 2026

This is a peer-relative look at Ambev (ABEV): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Food, Beverage & Tobacco peers, so every number reads in context rather than in isolation.

Company Profile

Ambev (ABEV) trades as an ADR rather than ordinary local shares — read it with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile fields for Ambev (ABEV)
Profile Item	ABEV
Name	Ambev S.A. ADR
Country/Region	Brazil
GICS Sector	Consumer Staples
GICS Industry Group	Food, Beverage & Tobacco
GICS Industry	Beverages
GICS Sub-Industry	Brewers
Market Capitalization	43.01 billion USD
Currency	USD
Exchange	NYSE
Listing Date	March 5, 1997
Security Type	ADR

Price Performance

Cumulative Growth

ABEV

GSPC

Ambev (ABEV) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Ambev (ABEV) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Ambev (ABEV) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Ambev (ABEV) metric values compared with Food, Beverage & Tobacco industry-group medians
Metric	Current stock: ABEV	Industry group median
Total Return (1Y)	15.68%	9.07%
Total Return (3Y, Annualized)	5.87%	2.06%
Total Return (5Y, Annualized)	1.96%	1.14%

Risk Profile

Drawdown History

ABEV

GSPC

Ambev (ABEV) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Ambev (ABEV) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Ambev (ABEV) metric values compared with Food, Beverage & Tobacco industry-group medians
Metric	Current stock: ABEV	Industry group median
Volatility (1Y, Annualized)	35.89%	32.65%
Beta (5Y)	0.56	0.43
Max Drawdown (5Y)	-38.91%	-51.71%

Risk-Adjusted Performance

Risk-Return Positioning

Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. ABEV is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

Ambev (ABEV) metric values compared with Food, Beverage & Tobacco industry-group medians
Metric	Current stock: ABEV	Industry group median
Sharpe Ratio (1Y)	0.32	0.14
Sortino Ratio (1Y)	0.47	0.20

Profitability

ROE (TTM)

Ambev (ABEV) posts ROE of 17.65%, in the upper peer quartile. That suggests the company earns more from each dollar of shareholders’ equity than most industry peers, a useful capital-efficiency signal.

ABEV

Food, Beverage & Tobacco industry group

17.65%

Group distribution

Max: 32.02%
ABEV: 17.65%
Q3: 16.61%
Median: 10.05%
Q1: 4.10%
Min: -10.50%

Largest peers

PEP: 52.19%
KO: 40.59%
ABEV: 17.65%
BTI: 13.42%
PM: --
BUD: --
MO: --

Where Ambev (ABEV) stands on ROE within its Food, Beverage & Tobacco peer group — the box is the group’s distribution and the dots its largest members.

Net Margin (TTM)

Ambev (ABEV) keeps 17.69% of revenue as net profit, putting net margin in the upper peer quartile. After operating costs, interest, and taxes, more of each sales dollar reaches shareholders than it does at most industry peers.

ABEV

Food, Beverage & Tobacco industry group

17.69%

Group distribution

Max: 24.83%
ABEV: 17.69%
Q3: 11.22%
Median: 5.94%
Q1: 2.05%
Min: -11.49%

Largest peers

MO: 39.33%
KO: 28.65%
BTI: 24.99%
PM: 24.83%
ABEV: 17.69%
BUD: 15.42%
PEP: 11.09%

Where Ambev (ABEV) stands on net margin within its Food, Beverage & Tobacco peer group — the box is the group’s distribution and the dots its largest members.

Operating Margin (TTM)

Ambev (ABEV) turns 25.56% of revenue into operating profit, putting operating margin in the upper peer quartile. Before financing and taxes enter the picture, the day-to-day business keeps more of each sales dollar than most industry peers.

ABEV

Food, Beverage & Tobacco industry group

25.56%

Group distribution

Max: 34.91%
ABEV: 25.56%
Q3: 17.57%
Median: 11.06%
Q1: 4.15%
Min: -15.06%

Largest peers

MO: 61.48%
PM: 41.94%
BTI: 34.91%
KO: 33.36%
BUD: 27.48%
ABEV: 25.56%
PEP: 16.88%

Where Ambev (ABEV) stands on operating margin within its Food, Beverage & Tobacco peer group — the box is the group’s distribution and the dots its largest members.

Profitability Metrics

Ambev (ABEV) metric values compared with Food, Beverage & Tobacco industry-group medians
Metric	Current stock: ABEV	Industry group median
ROE (TTM)	17.65%	10.05%
ROA (TTM)	10.27%	5.25%
Net Margin (TTM)	17.69%	5.94%
Operating Margin (TTM)	25.56%	11.06%
Gross Margin (TTM)	51.78%	34.26%

Growth

Revenue Growth

Ambev (ABEV) grew revenue -1.35%, in the lower peer quartile. The top line is expanding more slowly than at most peers, which can reflect softer demand, lost share, or weaker pricing.

Ambev (ABEV): Revenue Growth across different time periods, set against Food, Beverage & Tobacco industry-group medians.

EPS Growth

Ambev (ABEV) grew earnings per share 2.20%, roughly around the peer group's normal range. Bottom-line momentum looks broadly typical for the industry.

Ambev (ABEV): EPS Growth across different time periods, set against Food, Beverage & Tobacco industry-group medians.

Growth Metrics

Ambev (ABEV) metric values compared with Food, Beverage & Tobacco industry-group medians
Metric	Current stock: ABEV	Industry group median
Revenue Growth (YoY)	-1.35%	2.38%
Revenue Growth (3Y CAGR)	3.45%	2.51%
EPS Growth (YoY)	2.20%	-2.47%
EPS Growth (3Y CAGR)	0.00%	4.29%

Financial Strength

Current Ratio (MRQ)

Ambev (ABEV) has current ratio of 1.06, in the healthier middle range for its industry. The short-term asset cushion looks balanced relative to peers rather than stretched thin.

ABEV

Food, Beverage & Tobacco industry group

1.06

Group distribution

Max: 4.01
Q3: 2.35
Median: 1.53
ABEV: 1.06
Q1: 1.02
Min: 0.33

Largest peers

KO: 1.38
ABEV: 1.06
PM: 1.02
PEP: 0.94
BTI: 0.84
MO: 0.58
BUD: --

Where Ambev (ABEV) stands on current ratio within its Food, Beverage & Tobacco peer group — the box is the group’s distribution and the dots its largest members.

Debt / Equity (MRQ)

Ambev (ABEV) has debt-to-equity ratio of 0.03, in the lower-leverage quartile for its industry. Borrowing is modest relative to equity compared with most peers, which can leave more flexibility through a cycle.

ABEV

Food, Beverage & Tobacco industry group

0.03

Group distribution

Max: 2.19
Q3: 1.11
Median: 0.68
Q1: 0.33
ABEV: 0.03
Min: 0.00

Largest peers

PEP: 2.31
KO: 1.07
BTI: 0.72
BUD: 0.72
ABEV: 0.03
PM: --
MO: --

Where Ambev (ABEV) stands on debt-to-equity ratio within its Food, Beverage & Tobacco peer group — the box is the group’s distribution and the dots its largest members.

Financial Strength Metrics

Ambev (ABEV) metric values compared with Food, Beverage & Tobacco industry-group medians
Metric	Current stock: ABEV	Industry group median
Current Ratio (MRQ)	1.06	1.53
Debt / Equity (MRQ)	0.03	0.68
Net Debt / EBITDA	-0.72	2.57

Dividends

Dividend Yield (TTM)

Ambev (ABEV) has dividend yield of 9.64%, above the entire industry range. That headline income is large, but yields this far above peers often come from a falling share price or an at-risk payout, so dividend safety matters more than the percentage itself.

ABEV

Food, Beverage & Tobacco industry group

9.64%

Group distribution

ABEV: 9.64%
Max: 9.38%
Q3: 3.77%
Median: 1.76%
Q1: 0.00%
Min: 0.00%

Largest peers

ABEV: 9.64%
MO: 5.53%
PEP: 4.07%
BTI: 3.88%
PM: 2.98%
KO: 2.19%
BUD: 1.91%

Where Ambev (ABEV) stands on dividend yield within its Food, Beverage & Tobacco peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

Ambev (ABEV) has payout ratio of 74.21%, within the industry’s typical payout band. The dividend shares profits with investors while leaving earnings coverage that looks normal for the peer group.

ABEV

Food, Beverage & Tobacco industry group

74.21%

Group distribution

Max: 199.19%
Q3: 81.03%
ABEV: 74.21%
Median: 41.52%
Q1: 0.00%
Min: 0.00%

Largest peers

MO: 88.45%
PM: 87.74%
BTI: 83.97%
ABEV: 74.21%
PEP: 73.02%
KO: 61.95%
BUD: 27.35%

Where Ambev (ABEV) stands on payout ratio within its Food, Beverage & Tobacco peer group — the box is the group’s distribution and the dots its largest members.

Dividend Metrics

Ambev (ABEV) metric values compared with Food, Beverage & Tobacco industry-group medians
Metric	Current stock: ABEV	Industry group median
Dividend Yield (TTM)	9.64%	1.76%
Dividend Payout Ratio (TTM)	74.21%	41.52%

Valuation

P/E Ratio (TTM)

Ambev (ABEV) trades at P/E ratio of 14.68, near the industry’s usual earnings multiple. The stock is not showing a clear peer discount or premium on trailing earnings.

ABEV

Food, Beverage & Tobacco industry group

14.68

Group distribution

Max: 52.52
Q3: 30.78
Median: 18.76
ABEV: 14.68
Q1: 12.77
Min: 4.72

Largest peers

PM: 28.89
KO: 28.22
PEP: 17.78
BUD: 17.07
MO: 15.69
BTI: 15.61
ABEV: 14.68

Where Ambev (ABEV) stands on P/E ratio within its Food, Beverage & Tobacco peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

Ambev (ABEV) trades at 0.48 on P/S ratio, in the lower sales-valuation quartile for its industry. That points to a cheaper revenue stream than most peers, with margin quality still doing the heavy lifting.

ABEV

Food, Beverage & Tobacco industry group

0.48

Group distribution

Max: 4.64
Q3: 2.27
Median: 1.17
Q1: 0.52
ABEV: 0.48
Min: 0.00

Largest peers

KO: 8.06
PM: 7.15
MO: 6.14
BTI: 5.08
BUD: 2.58
PEP: 1.96
ABEV: 0.48

Where Ambev (ABEV) stands on P/S ratio within its Food, Beverage & Tobacco peer group — the box is the group’s distribution and the dots its largest members.

P/B Ratio (MRQ)

Ambev (ABEV) trades at 2.38 on P/B ratio, roughly in line with the industry’s normal price-to-book range. Its balance sheet is not being priced at a clear discount or premium versus peers.

ABEV

Food, Beverage & Tobacco industry group

2.38

Group distribution

Max: 6.35
Q3: 3.07
ABEV: 2.38
Median: 1.58
Q1: 0.82
Min: 0.00

Largest peers

KO: 11.01
BUD: 10.60
BTI: 10.59
PEP: 8.65
ABEV: 2.38
PM: -38.86
MO: -56.93

Where Ambev (ABEV) stands on P/B ratio within its Food, Beverage & Tobacco peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

Ambev (ABEV) metric values compared with Food, Beverage & Tobacco industry-group medians
Metric	Current stock: ABEV	Industry group median
P/E Ratio (TTM)	14.68	18.76
P/S Ratio (TTM)	0.48	1.17
P/B Ratio (MRQ)	2.38	1.58
Free Cash Flow Yield (TTM)	48.96%	4.66%