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
Ambev S.A. (ABEV3) - Net Assets
Latest net assets as of December 2025: R$87.91 Billion BRL
Based on the latest financial reports, Ambev S.A. (ABEV3) has net assets worth R$87.91 Billion BRL as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (R$145.09 Billion) and total liabilities (R$57.17 Billion). 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | R$87.91 Billion |
| % of Total Assets | 60.59% |
| Annual Growth Rate | 15.33% |
| 5-Year Change | 4.64% |
| 10-Year Change | 88.45% |
| Growth Volatility | 60.75 |
Ambev S.A. - Net Assets Trend (1997–2025)
This chart illustrates how Ambev S.A.'s net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Ambev S.A. (1997–2025)
The table below shows the annual net assets of Ambev S.A. from 1997 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | R$87.91 Billion | -11.72% |
| 2024-12-31 | R$99.58 Billion | +24.25% |
| 2023-12-31 | R$80.14 Billion | -3.82% |
| 2022-12-31 | R$83.33 Billion | -0.82% |
| 2021-12-31 | R$84.02 Billion | +11.80% |
| 2020-12-31 | R$75.15 Billion | +20.13% |
| 2019-12-31 | R$62.56 Billion | +8.70% |
| 2018-12-31 | R$57.55 Billion | -- |
| 2017-12-31 | R$0.00 | -- |
| 2016-12-31 | R$46.65 Billion | -7.32% |
| 2015-12-31 | R$50.33 Billion | +15.33% |
| 2014-12-31 | R$43.64 Billion | -1.31% |
| 2013-12-31 | R$44.22 Billion | +18.66% |
| 2012-12-31 | R$37.27 Billion | +44.29% |
| 2011-12-31 | R$25.83 Billion | +5.15% |
| 2010-12-31 | R$24.56 Billion | +10.18% |
| 2009-12-31 | R$22.30 Billion | +6.11% |
| 2008-12-31 | R$21.01 Billion | +19.33% |
| 2007-12-31 | R$17.61 Billion | -9.66% |
| 2006-12-31 | R$19.49 Billion | -2.50% |
| 2005-12-31 | R$19.99 Billion | +16.16% |
| 2004-12-31 | R$17.21 Billion | +282.02% |
| 2003-12-31 | R$4.50 Billion | +7.03% |
| 2002-12-31 | R$4.21 Billion | +21.91% |
| 2001-12-31 | R$3.45 Billion | -3.81% |
| 2000-12-31 | R$3.59 Billion | +115.68% |
| 1999-12-31 | R$1.66 Billion | +11.92% |
| 1998-12-31 | R$1.49 Billion | -8.20% |
| 1997-12-31 | R$1.62 Billion | -- |
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 grown by 5728826500000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | R$57.29 Billion | 65.16% |
| Common Stock | R$58.28 Billion | 66.29% |
| Total Equity | R$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 |
|---|---|
|
Sinopac Financial Holdings Co Ltd
TW:2890
|
$10.49 Billion |
|
Great-West Lifeco Inc
PINK:GWLIF
|
$10.50 Billion |
|
Poly Real Estate Group Co Ltd
SHG:600048
|
$10.51 Billion |
|
Tempur Sealy International Inc
NYSE:TPX
|
$10.51 Billion |
|
KC40
F:KC40
|
$10.47 Billion |
|
SHAND.GOLD MNG LTD H HD 1
F:188H
|
$10.46 Billion |
|
Galaxy Entertainment Group Ltd
PINK:GXYEF
|
$10.45 Billion |
|
First Horizon National Corporation
NYSE:FHN
|
$10.44 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 98,642,139,000 to 87,914,039,000, a change of -10,728,100,000 (-10.9%).
- Net income of 15,503,400,000 contributed positively to equity growth.
- Dividend payments of 20,463,505,000 reduced retained earnings.
- Share repurchases of 1,925,650,000 reduced equity.
- Other comprehensive income increased equity by 65,550,984,000.
- Other factors decreased equity by 69,393,329,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | R$15.50 Billion | +17.63% |
| Dividends Paid | R$20.46 Billion | -23.28% |
| Share Repurchases | R$1.93 Billion | -2.19% |
| Other Comprehensive Income | R$65.55 Billion | +74.56% |
| Other Changes | R$-69.39 Billion | -78.93% |
| Total Change | R$- | -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: 2.66x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 101.63x to 2.66x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1997-12-31 | R$0.15 | R$15.00 | x |
| 1998-12-31 | R$0.14 | R$15.00 | x |
| 1999-12-31 | R$0.15 | R$15.00 | x |
| 2000-12-31 | R$0.26 | R$15.00 | x |
| 2001-12-31 | R$0.29 | R$15.00 | x |
| 2002-12-31 | R$0.36 | R$15.00 | x |
| 2003-12-31 | R$0.38 | R$15.00 | x |
| 2004-12-31 | R$1.03 | R$15.00 | x |
| 2005-12-31 | R$1.41 | R$15.00 | x |
| 2006-12-31 | R$1.29 | R$15.00 | x |
| 2007-12-31 | R$0.97 | R$15.00 | x |
| 2008-12-31 | R$1.35 | R$15.00 | x |
| 2009-12-31 | R$1.37 | R$15.00 | x |
| 2010-12-31 | R$1.57 | R$15.00 | x |
| 2011-12-31 | R$1.57 | R$15.00 | x |
| 2012-12-31 | R$2.56 | R$15.00 | x |
| 2013-12-31 | R$3.35 | R$15.00 | x |
| 2014-12-31 | R$2.67 | R$15.00 | x |
| 2015-12-31 | R$3.03 | R$15.00 | x |
| 2016-12-31 | R$2.83 | R$15.00 | x |
| 2017-12-31 | R$2.93 | R$15.00 | x |
| 2018-12-31 | R$3.55 | R$15.00 | x |
| 2019-12-31 | R$3.86 | R$15.00 | x |
| 2020-12-31 | R$4.65 | R$15.00 | x |
| 2021-12-31 | R$5.21 | R$15.00 | x |
| 2022-12-31 | R$5.17 | R$15.00 | x |
| 2023-12-31 | R$4.99 | R$15.00 | x |
| 2024-12-31 | R$6.24 | R$15.00 | x |
| 2025-12-31 | R$5.63 | R$15.00 | 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 (22.17%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1997 | 30.11% | 16.33% | 0.62x | 2.97x | R$313.10 Million |
| 1998 | 23.04% | 10.43% | 0.68x | 3.27x | R$187.20 Million |
| 1999 | 20.06% | 9.92% | 0.60x | 3.38x | R$161.66 Million |
| 2000 | 15.28% | 8.96% | 0.61x | 2.81x | R$162.47 Million |
| 2001 | 23.33% | 12.02% | 0.59x | 3.28x | R$448.22 Million |
| 2002 | 36.57% | 20.62% | 0.59x | 3.00x | R$1.10 Billion |
| 2003 | 32.77% | 16.26% | 0.59x | 3.44x | R$980.78 Million |
| 2004 | 6.83% | 9.67% | 0.37x | 1.93x | R$-538.10 Million |
| 2005 | 7.78% | 9.69% | 0.48x | 1.68x | R$-442.00 Million |
| 2006 | 14.53% | 15.93% | 0.49x | 1.85x | R$872.71 Million |
| 2007 | 16.17% | 14.33% | 0.55x | 2.04x | R$1.07 Billion |
| 2008 | 24.63% | 24.71% | 0.50x | 2.01x | R$3.04 Billion |
| 2009 | 27.19% | 25.81% | 0.58x | 1.82x | R$3.78 Billion |
| 2010 | 31.04% | 29.97% | 0.59x | 1.75x | R$5.13 Billion |
| 2011 | 33.74% | 31.85% | 0.59x | 1.80x | R$6.08 Billion |
| 2012 | 41.69% | 32.60% | 0.52x | 2.45x | R$7.99 Billion |
| 2013 | 22.18% | 27.41% | 0.50x | 1.61x | R$5.24 Billion |
| 2014 | 28.58% | 31.68% | 0.53x | 1.71x | R$7.84 Billion |
| 2015 | 25.71% | 26.59% | 0.52x | 1.87x | R$7.59 Billion |
| 2016 | 27.99% | 27.51% | 0.54x | 1.87x | R$8.06 Billion |
| 2017 | 15.94% | 15.31% | 0.55x | 1.89x | R$2.73 Billion |
| 2018 | 19.57% | 21.95% | 0.53x | 1.67x | R$5.39 Billion |
| 2019 | 19.22% | 22.40% | 0.52x | 1.66x | R$5.65 Billion |
| 2020 | 15.42% | 19.49% | 0.47x | 1.70x | R$4.00 Billion |
| 2021 | 15.33% | 17.39% | 0.53x | 1.68x | R$4.41 Billion |
| 2022 | 17.64% | 18.14% | 0.58x | 1.68x | R$6.26 Billion |
| 2023 | 18.36% | 18.19% | 0.60x | 1.68x | R$6.60 Billion |
| 2024 | 14.64% | 16.14% | 0.55x | 1.65x | R$4.57 Billion |
| 2025 | 17.63% | 17.57% | 0.61x | 1.65x | R$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: $7,134,800,000
- Average return on equity (ROE) among peers: -1.14%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Ambev S.A. (ABEV3) | R$87.91 Billion | 30.11% | 0.65x | $10.48 Billion |
| Constellation Brands Inc. (STZB34) | $7.13 Billion | -1.14% | 2.03x | $4.72 Billion |