Stock

Ambev S.A.

ABEV
66
Beverages - Alcoholic · Consumer Defensive
Price
$3.29
+0.03 (+0.92%)
Market Cap
$51.02B
Exchange
New York Stock Exchange
Winston Score
66
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Oct 18, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Strong
24/30
Growth
Good
10/20
Cash Flow
Exceptional
10/10
Stability
Exceptional
9/10
Valuation
Good
6/10
Ownership
Mixed
6/15
Dividends
Weak
1/5

66 of 100 counted points = Winston Score 66.

Share count falling — buybacks

−1.1% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 15.86B (2021) → 15.68B (2025)

§Winston Score History

The full picture

Ambev is a large beverage company based in Brazil that makes and sells beer, soft drinks, and other drinks across Latin America. Its most well-known beer brands include Skol, Brahma, and Antarctica, and it also sells PepsiCo products like Pepsi and Guaraná Antarctica in Brazil under a licensing deal. Ambev is the largest brewer in Latin America and is majority-owned by AB InBev, the world's biggest beer company.

Ambev makes money by producing and selling its drinks to bars, restaurants, grocery stores, and consumers across Brazil, Argentina, Canada, and other countries in Central and South America. The company's strong brand portfolio and massive distribution network give it a significant edge over smaller competitors. Its main risks include currency fluctuations in Latin American markets, rising raw material costs like barley and aluminum, and slowing consumer spending in Brazil, which is its largest and most important market.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale
Gross Margin
51.9%
Healthy — 51.9% gross margin
Profit after running costs
Operating Margin
23.6%
Excellent — 23.6% operating margin
Return on the money invested
ROCE
26.7%
Exceptional — 26.7% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales growth
Sales YoY
-3.8%
Shrinking sales (-3.8% YoY)
Profit growth
EPS YoY
+10.6%
Earnings growing (+10.6% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is
EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Profit that turns into cash
Cash Conversion
173%
Turns 173% of profit into real cash
Spare cash per sale
FCF Margin
27.2%
Converts sales into free cash efficiently (27.2%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

What it owes vs what it owns
Debt / Equity
0.03
Conservative — low debt load (0.03)
Covers its interest
Interest Cover
8.94x
Comfortably covers interest (8.9x)

Interest coverage above 8. Profits cover interest many times over.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

Price vs profit
P/E Ratio (TTM)
16.2x
Fair value — P/E 16.2

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
+2.3
GROWING
Earnings expected to grow — slightly cheaper on forward P/E

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Dividend
Dividend Yield
1.71%
Small dividend — 1.71% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record
Dividend Growth
-52.6%
Dividend cut (-52.6% YoY) — warning sign
Payout Ratio
80%
no trend
Most of the profit goes out as dividends. Little left to reinvest, and less cushion if earnings dip.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free
🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.
Start free trial