Ambev S.A. (AMNA) — Free Cash Flow Generation Index

Latest as of December 2025: 0.88x

Ambev S.A. (AMNA) has a Free Cash Flow Generation Index of 0.88x as of December 2025. Free cash flow of €11.62 Billion represents 1% of operating cash flow (€13.25 Billion). Read debt load of Ambev S.A. for a breakdown of total debt and financial obligations.

FCF Generation Index

0.88x
Free Cash Flow / Operating CF

Free Cash Flow

€11.62 Billion
EUR

Operating Cash Flow

€13.25 Billion
EUR

Capital Expenditures

€1.63 Billion
EUR

Ambev S.A. Free Cash Flow Generation Index (2015–2025)

Historical FCF Generation Index trend for Ambev S.A. across 11 annual periods. Explore Ambev S.A. (AMNA) capital reinvestment to see what proportion of operating cash flow is directed to capital expenditures.

Annual Free Cash Flow Generation for Ambev S.A. (2015–2025)

Year-by-year Free Cash Flow Generation Index for Ambev S.A.. For the full company profile including market capitalisation, see Ambev S.A. (AMNA) total market value.

Year FCG Index Free Cash Flow (EUR) Operating CF Capital Expenditures YoY Change
2025 0.81x €19.86 Billion €24.45 Billion €4.59 Billion ▼ -0.7%
2024 0.82x €21.35 Billion €26.10 Billion €4.75 Billion ▲ +8.1%
2023 0.76x €18.71 Billion €24.71 Billion €6.00 Billion ▲ +10.8%
2022 0.68x €14.11 Billion €20.64 Billion €6.53 Billion ▲ +2.8%
2021 0.66x €15.22 Billion €22.90 Billion €7.68 Billion ▼ -11.5%
2020 0.75x €14.16 Billion €18.86 Billion €4.69 Billion ▲ +3.7%
2019 0.72x €13.31 Billion €18.38 Billion €5.07 Billion ▼ -7.3%
2018 0.78x €14.34 Billion €18.35 Billion €3.57 Billion ▼ -4.8%
2017 0.82x €14.67 Billion €17.87 Billion €3.20 Billion ▼ -38.5%
2016 1.33x €16.48 Billion €12.34 Billion €4.13 Billion ▲ +9.1%
2015 1.22x €28.84 Billion €23.58 Billion €5.26 Billion —
FCG Index = Free Cash Flow / Operating Cash Flow. FCF = Operating CF + Capital Expenditures (capex stored negative).