Ambev Income Statement

Financials in millions BRL. Fiscal year is January - December.

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 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
Revenue	88,210	88,243	89,453	79,737	79,709	72,854
Revenue Growth (YoY)	-3.78%	-1.35%	12.19%	0.03%	9.41%	24.80%
Cost of Revenue	42,800	42,864	43,615	39,292	40,422	35,660
Gross Profit	45,410	45,378	45,838	40,445	39,287	37,195
Selling, General & Admin	24,939	25,140	26,392	23,437	23,970	21,846
Other Operating Expenses	-3,125	-3,079	-2,357	-1,823	-2,371	-1,731
Total Operating Expenses	21,814	22,061	24,036	21,614	21,599	20,114
Operating Income	23,596	23,318	21,802	18,831	17,688	17,080
Total Non-Operating Income (Expense)	-4,099	-3,896	-2,314	-3,795	-3,452	-3,321
Pretax Income	19,497	19,422	19,487	15,036	14,236	13,759
Provision for Income Taxes	3,427	3,433	4,640	75.5	-655.6	636.6
Net Income	15,578	15,503	14,437	14,502	14,458	12,671
Minority Interest in Earnings	491.64	485	409.7	458.5	433.3	451.6
Net Income to Common	15,578	15,503	14,437	14,502	14,458	12,671
Net Income Growth	7.95%	7.38%	-0.45%	0.30%	14.10%	11.35%
Shares Outstanding (Basic)	15,604	15,618	15,735	15,745	15,742	15,737
Shares Outstanding (Diluted)	15,673	15,684	15,815	15,839	15,849	15,858
Shares Change (YoY)	-0.77%	-0.83%	-0.15%	-0.06%	-0.06%	-0.06%
EPS (Basic)	1.00	0.99	0.92	0.92	0.92	0.81
EPS (Diluted)	1.00	0.99	0.91	0.92	0.91	0.80
EPS Growth	8.91%	8.28%	-0.29%	0.36%	14.17%	11.43%
Shares Outstanding	15.6	15,617	15,728	15,749	15,742	15,739
Free Cash Flow	22,153	19,860	21,350	18,707	14,109	15,224
Free Cash Flow Growth	11.54%	-6.98%	14.12%	32.59%	-7.32%	7.49%
Free Cash Flow Per Share	1.41	1.27	1.35	1.18	0.89	0.96
Dividends Per Share	0.859	1.114	0.668	0.730	0.762	0.604
Dividend Growth	-22.94%	66.88%	-8.57%	-4.21%	26.29%	23.08%
Gross Margin	51.48%	51.42%	51.24%	50.72%	49.29%	51.05%
Operating Margin	26.75%	26.42%	24.37%	23.62%	22.19%	23.44%
Profit Margin	18.22%	18.12%	16.60%	18.76%	18.68%	18.01%
FCF Margin	25.11%	22.51%	23.87%	23.46%	17.70%	20.90%
EBITDA	30,318	30,150	28,928	25,249	23,644	22,477
EBITDA Margin	34.37%	34.17%	32.34%	31.67%	29.66%	30.85%
EBIT	23,596	23,318	21,802	18,831	17,688	17,080
EBIT Margin	26.75%	26.42%	24.37%	23.62%	22.19%	23.44%
Effective Tax Rate	17.58%	17.68%	23.81%	0.50%	-4.61%	4.63%

Updated May 6, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q