Ambev S.A. (AMNA) - Net Assets
Based on the latest financial reports, Ambev S.A. (AMNA) has net assets worth €88.89 Billion EUR (≈ $103.93 Billion USD) as of June 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€138.21 Billion ≈ $161.58 Billion USD) and total liabilities (€49.32 Billion ≈ $57.66 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Ambev S.A. strategic asset allocation index to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €88.89 Billion |
| % of Total Assets | 64.32% |
| Annual Growth Rate | 5.84% |
| 5-Year Change | 5.66% |
| 10-Year Change | 90.29% |
| Growth Volatility | 11.75 |
Ambev S.A. - Net Assets Trend (2015–2025)
This chart illustrates how Ambev S.A.'s net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see AMNA market cap overview.
Annual Net Assets for Ambev S.A. (2015–2025)
The table below shows the annual net assets of Ambev S.A. from 2015 to 2025. Also explore net asset momentum of Ambev S.A. to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | €88.77 Billion ≈ $103.79 Billion |
-10.85% |
| 2024-12-31 | €99.58 Billion ≈ $116.42 Billion |
+24.25% |
| 2023-12-31 | €80.14 Billion ≈ $93.70 Billion |
-3.82% |
| 2022-12-31 | €83.33 Billion ≈ $97.42 Billion |
-0.82% |
| 2021-12-31 | €84.02 Billion ≈ $98.23 Billion |
+11.80% |
| 2020-12-31 | €75.15 Billion ≈ $87.86 Billion |
+20.13% |
| 2019-12-31 | €62.56 Billion ≈ $73.13 Billion |
+8.70% |
| 2018-12-31 | €57.55 Billion ≈ $67.28 Billion |
+19.93% |
| 2017-12-31 | €47.98 Billion ≈ $56.10 Billion |
+2.85% |
| 2016-12-31 | €46.65 Billion ≈ $54.54 Billion |
-7.32% |
| 2015-12-31 | €50.33 Billion ≈ $58.85 Billion |
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Equity Component Analysis
This analysis shows how different components contribute to Ambev S.A.'s total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 100.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | €87.91 Billion | 100.00% |
| Total Equity | €87.91 Billion | 100.00% |
Ambev S.A. Competitors by Market Cap
The table below lists competitors of Ambev S.A. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Shennan Circuits Co Ltd Class A
SHE:002916
|
$39.87 Billion |
|
ArcelorMittal SA
XETRA:ARRD
|
$39.90 Billion |
|
MSCI Inc
NYSE:MSCI
|
$39.92 Billion |
|
JD.com Inc Adr
NASDAQ:JD
|
$40.04 Billion |
|
ArcelorMittal SA
MC:MTS
|
$39.75 Billion |
|
Deutsche Börse AG
XETRA:DB1
|
$39.66 Billion |
|
Danone SA
F:BSND
|
$39.61 Billion |
|
Live Nation Entertainment Inc
NYSE:LYV
|
$39.57 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Ambev S.A.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 98,642,100,000 to 87,914,100,000, a change of -10,728,000,000 (-10.9%).
- Net income of 15,503,400,000 contributed positively to equity growth.
- Dividend payments of 20,463,500,000 reduced retained earnings.
- Share repurchases of 1,925,700,000 reduced equity.
- Other factors decreased equity by 3,842,200,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €15.50 Billion | +17.63% |
| Dividends Paid | €20.46 Billion | -23.28% |
| Share Repurchases | €1.93 Billion | -2.19% |
| Other Changes | €-3.84 Billion | -4.37% |
| Total Change | €- | -10.88% |
Book Value vs Market Value Analysis
This analysis compares Ambev S.A.'s book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.46x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 0.84x to 0.46x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2015-12-31 | €3.08 | €2.58 | x |
| 2016-12-31 | €2.85 | €2.58 | x |
| 2017-12-31 | €2.93 | €2.58 | x |
| 2018-12-31 | €3.58 | €2.58 | x |
| 2019-12-31 | €3.90 | €2.58 | x |
| 2020-12-31 | €4.69 | €2.58 | x |
| 2021-12-31 | €5.25 | €2.58 | x |
| 2022-12-31 | €5.21 | €2.58 | x |
| 2023-12-31 | €5.01 | €2.58 | x |
| 2024-12-31 | €6.27 | €2.58 | x |
| 2025-12-31 | €5.63 | €2.58 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Ambev S.A. utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 17.63%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 17.57%
- • Asset Turnover: 0.61x
- • Equity Multiplier: 1.65x
- Recent ROE (17.63%) is below the historical average (18.86%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2015 | 25.71% | 26.59% | 0.52x | 1.87x | €7.59 Billion |
| 2016 | 27.99% | 27.51% | 0.54x | 1.87x | €8.06 Billion |
| 2017 | 15.94% | 15.31% | 0.55x | 1.89x | €2.73 Billion |
| 2018 | 19.57% | 21.95% | 0.53x | 1.67x | €5.39 Billion |
| 2019 | 19.22% | 22.40% | 0.52x | 1.66x | €5.65 Billion |
| 2020 | 15.42% | 19.49% | 0.47x | 1.70x | €4.00 Billion |
| 2021 | 15.33% | 17.39% | 0.53x | 1.68x | €4.41 Billion |
| 2022 | 17.64% | 18.14% | 0.58x | 1.68x | €6.26 Billion |
| 2023 | 18.36% | 18.19% | 0.60x | 1.68x | €6.60 Billion |
| 2024 | 14.64% | 16.14% | 0.55x | 1.65x | €4.57 Billion |
| 2025 | 17.63% | 17.57% | 0.61x | 1.65x | €6.71 Billion |
Industry Comparison
This section compares Ambev S.A.'s net assets metrics with peer companies in the Beverages - Brewers industry.
Industry Context
- Industry: Beverages - Brewers
- Average net assets among peers: $193,796,889,474
- Average return on equity (ROE) among peers: -27.11%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Ambev S.A. (AMNA) | €88.89 Billion | 25.71% | 0.55x | $39.78 Billion |
| BUDWEISER BREW.UNSP.ADR/4 (4BB1) | $10.85 Billion | 7.85% | 0.50x | $11.20 Billion |
| MOLSON COORS CDA EXCH.B (65K) | $13.66 Billion | 7.36% | 1.02x | $278.66 Million |
| AKTIENBRAU.KAUFBEUR (ABK) | $982.26K | -139.56% | 7.95x | $5.99 Million |
| BHB Brauholding Bayern-Mitte AG (B9B) | $10.79 Million | 2.45% | 0.23x | $6.51 Million |
| CARLSBERG B DK20 ADR 1/5 (CBGC) | $25.75 Billion | -158.41% | 3.34x | $12.20 Billion |
| Compañía Cervecerías Unidas S.A (CVU) | $1.67 Trillion | 9.62% | 1.39x | $1.87 Billion |
| C&C Group PLC (GCC) | $699.00 Million | 5.31% | 1.10x | $430.95 Million |
| HEINEKEN SP. ADR 1/2 (HNK2) | $20.61 Billion | 9.14% | 1.61x | $42.73 Billion |
| Kulmbacher Brauerei Aktien-Gesellschaft (KUL) | $68.82 Million | 12.27% | 1.45x | $116.93 Million |
About Ambev S.A.
Ambev S.A., through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, soft drinks, malt and food, and other beverages in Brazil, Central America and Caribbean, Latin America South, and Canada. The company offers beer, ready-to-drink cocktails and spritzers, soft drinks, water, teas, and isotonic drinks under the Brahma, Skol, Antarctica, Original, Quilmes, A… Read more