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Ambev SA ADR ABEV

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Stock XNYS Rating as of
$2.31 −0.02 (0.86%)
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As of Cboe BZX Real-Time Price Open
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Company Report

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Ambev Begins Margin Rebuild as Commodity Cost Pressure Eases

Ioannis Pontikis

Brahma, the Brazilian brewer, was the first foray into the consumer product manufacturing industry by private equity group 3G. In 2000, 3G merged two Brazilian brewers; Brahma and Antarctica, creating Ambev. The company has gone on to roll up brewers throughout Central and South America and holds several monopolylike positions in large markets, including an 81% volume share in Argentina, 68% in Brazil, and 61% in Peru.

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Price vs Fair Value

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ABEV is trading at a 36% discount.
Price
$2.30
Fair Value
$1.60
Uncertainty
Medium
1-Star Price
$4.63
5-Star Price
$8.78
Economic Moat
Wkcm
Capital Allocation
Vtthqqfm

Bulls Say, Bears Say

Bulls

There are few transformative M&A options remaining for AB InBev, and its next major transaction could be to consolidate the remainder of Ambev that it does not already own, although this is unlikely to happen in the short term.

Bears

As a Latin American near pure-play, Ambev’s cash flows and dividends are inherently more volatile than those of parent AB InBev.

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Trading Information

Previous Close Price
$2.33
Day Range
$2.31–2.32
52-Week Range
$2.24–3.23
Bid/Ask
$2.30 / $2.31
Market Cap
$36.37 Bil
Volume/Avg
16,731 / 13.9 Mil

Key Statistics

Price/Earnings (Normalized)
10.68
Price/Sales
2.30
Dividend Yield (Trailing)
6.56%
Dividend Yield (Forward)
6.56%
Total Yield
6.56%

Company Profile

Ambev is the largest brewer in Latin America and the Caribbean and is Anheuser-Busch InBev's subsidiary in the region. It produces, distributes, and sells beer and PepsiCo products in Brazil and other Latin American countries and owns Argentina's largest brewer, Quinsa. Ambev was formed in 1999 through the merger of Brazil's two largest beverage companies, Brahma and Antarctica. In 2004, Ambev combined with Canadian brewer Labatt, giving Interbrew (now AB InBev) a controlling interest of 61.8% as at the end of 2023.
Sector
Consumer Defensive
Industry
Beverages - Brewers
Stock Style Box
Large Core
Total Number of Employees
42,774
Website
https://www.ambev.com.br

Competitors

Valuation

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Metric
ABEV
HEIA
ABI
Price/Earnings (Normalized)
 10.6819.3919.16
Price/Book Value
 2.252.551.50
Price/Sales
 2.301.682.10
Price/Cash Flow
 7.3411.108.41
Price/Earnings
ABEV
HEIA
ABI

Financial Strength

Metric
ABEV
HEIA
ABI
Quick Ratio
 0.620.480.45
Current Ratio
 0.890.770.63
Interest Coverage
 5.564.612.83
Quick Ratio
ABEV
HEIA
ABI

Profitability

Metric
ABEV
HEIA
ABI
Return on Assets (Normalized)
 10.90%4.80%2.85%
Return on Equity (Normalized)
 17.71%13.38%7.94%
Return on Invested Capital (Normalized)
 17.20%7.87%5.38%
Return on Assets
ABEV
HEIA
ABI
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