AMBEV S.A.
ABEV · Beverages · EDGAR filings ↗
Reference price $3.41 — last insider sale, 2026-05-05 (estimated from the dated SEC Form 4 price — not a live quote)
Grade
A85Dominant LatAm beverage franchise with top-decile returns and elite cash generation, lightly tempered by emerging-market macro exposure.
Strengths
- Best-in-class returns/cash: ROIC 100th pct, ROA 83rd, FCF 94th, OCF margin 95th
- Wide-moat scale with pricing power; operating margin 82nd pct, net income growth 22%
- Pristine balance sheet (D/E 0.04, 29th pct) with strong interest coverage
Risks
- Heavy exposure to Argentine hyperinflation, currency devaluation and Bolivia/Chile political risk
- FX translation volatility in the real and regional currencies
- Discretionary consumption tied to LatAm macro cycles
Notable findings
- Weak liquidityCurrent ratio 0.96 (<1)
- Strong balance sheetStrong balance sheet — $3.4B cash & investments
- Insider sellingInsider selling — 3 open-market sale(s) by 3 insider(s) (cluster of 3 insiders, ~$956,793, last 6mo) Form 4 ↗
Key metrics
Gross margin
51.4%
Operating margin
26.4%
Net margin
18.1%
Return on equity
18.0%
Return on assets
11.0%
ROIC
20.0%
Revenue growth (QoQ)
11.4%
Net-income growth
21.6%
Debt / equity
0.0×
Interest coverage
5.3×
Current ratio
1.0×
Free cash flow
$3.6B
Tangible book value
$8.6B
Cash & investments
$3.4B
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-05 | Zagman Paulo Andre | Sell | 136K | $3.41 |
| 2026-03-30 | Klutzenschell Lisboa Carlos Eduardo | Grant | 205K | $3.11 |
| 2026-03-30 | Malik Parente Guilherme | Grant | 8.5K | $3.11 |
| 2026-03-30 | Duarte Valdecir | Grant | 38K | $3.11 |
| 2026-03-30 | Cavalcanti de Lacerda Eduardo Braga | Grant | 30K | $3.11 |
| 2026-03-30 | Parolari Guilherme Fleury de Figueiredo Ferraz | Grant | 45K | $3.11 |
| 2026-03-30 | Zagman Paulo Andre | Grant | 35K | $3.11 |
| 2026-03-30 | Crippa Prado Carla Smith de Vasconcellos | Grant | 11K | $3.11 |
| 2026-03-27 | Cavalcanti de Lacerda Eduardo Braga | Sell | 152K | $2.85 |
| 2026-03-24 | Malik Parente Guilherme | Sell | 21K | $2.76 |
All non-derivative Form 4 activity (SEC), newest first.
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-03-03 | 2025-12-31 | 0001292814-26-000640 ↗ |
| 20-F | 2025-03-12 | 2024-12-31 | 0001292814-25-000831 ↗ |
| 20-F | 2024-03-11 | 2023-12-31 | 0001292814-24-000771 ↗ |
| 20-F | 2023-03-17 | 2022-12-31 | 0001292814-23-000992 ↗ |
| 20-F | 2022-03-18 | 2021-12-31 | 0001171843-22-001985 ↗ |
| 20-F | 2021-03-22 | 2020-12-31 | 0001292814-21-001039 ↗ |
| 20-F | 2020-03-24 | 2019-12-31 | 0001292814-20-000888 ↗ |
| 20-F | 2019-03-22 | 2018-12-31 | 0001292814-19-000845 ↗ |
| 20-F | 2018-03-19 | 2017-12-31 | 0001292814-18-000752 ↗ |
| 20-F | 2017-03-22 | 2016-12-31 | 0001292814-17-000625 ↗ |
| 20-F | 2016-03-14 | 2015-12-31 | 0001292814-16-003835 ↗ |
| 20-F | 2015-03-25 | 2014-12-31 | 0001292814-15-000588 ↗ |