Ambev Ratios and Metrics

Market cap in millions BRL. Fiscal year is January - December.

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Apr '26 Apr 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Capitalization	226,308	216,113	184,649	216,110	228,568	242,713
Market Cap Growth	6.35%	17.04%	-14.56%	-5.45%	-5.83%	-1.43%
Enterprise Value	210,236	199,869	167,834	203,494	214,301	227,345
Last Close Price	14.51	13.86	10.84	12.06	12.21	12.42
PE Ratio	14.68	13.94	12.79	14.90	15.81	19.16
Forward PE	14.07	14.54	12.12	14.40	17.62	20.13
PS Ratio	2.56	2.45	2.06	2.71	2.87	3.33
PB Ratio	2.55	2.43	1.85	2.70	2.74	2.89
P/TBV Ratio	6.41	6.12	4.42	6.99	7.11	7.70
P/FCF Ratio	11.40	10.88	8.65	11.55	16.20	15.94
P/OCF Ratio	9.26	8.84	7.08	8.74	11.07	10.60
PEG Ratio	2.25	3.21	3.21	3.21	3.21	3.21
EV/Sales Ratio	2.38	2.27	1.88	2.55	2.69	3.12
EV/EBITDA Ratio	7.35	7.34	6.28	8.68	9.59	10.64
EV/EBIT Ratio	9.31	8.89	7.75	10.80	12.15	13.15
EV/FCF Ratio	10.59	10.06	7.86	10.88	15.19	14.93
Debt / Equity Ratio	0.04	0.04	0.04	0.04	0.05	0.04
Debt / EBITDA Ratio	0.12	0.12	0.12	0.14	0.17	0.14
Debt / FCF Ratio	0.17	0.17	0.16	0.19	0.27	0.21
Net Debt / Equity Ratio	-0.19	-0.19	-0.26	-0.16	-0.14	-0.18
Net Debt / EBITDA Ratio	-0.62	-0.62	-0.99	-0.55	-0.52	-0.72
Net Debt / FCF Ratio	-0.85	-0.85	-1.24	-0.69	-0.82	-1.01
Asset Turnover	0.57	0.57	0.61	0.59	0.58	0.55
Inventory Turnover	3.86	3.86	4.09	3.49	3.38	3.83
Quick Ratio	0.66	0.66	0.80	0.62	0.58	0.67
Current Ratio	0.96	0.96	1.10	0.89	0.93	0.99
Return on Equity (ROE)	16.98%	16.98%	16.52%	18.30%	17.80%	16.49%
Return on Assets (ROA)	9.14%	9.14%	9.18%	8.70%	7.97%	8.19%
Return on Invested Capital (ROIC)	25.07%	25.52%	23.50%	26.95%	25.12%	25.42%
Return on Capital Employed (ROCE)	22.60%	22.60%	19.20%	20.60%	18.10%	17.30%
Earnings Yield	6.85%	7.17%	7.82%	6.71%	6.33%	5.22%
FCF Yield	8.78%	9.19%	11.56%	8.66%	6.17%	6.27%
Dividend Yield	7.68%	8.04%	6.16%	6.06%	6.24%	4.86%
Payout Ratio	131.99%	131.99%	28.10%	82.21%	84.67%	87.72%
Buyback Yield / Dilution	0.83%	0.83%	0.15%	0.06%	0.06%	0.06%
Total Shareholder Return	8.60%	8.87%	6.31%	6.12%	6.30%	4.92%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.