Ambev SA ADR's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Ambev SA ADR reported revenue of $88.2B (-1.4% year on year) and net income of $16.0B (+7.7% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Revenue | $88.2B | $89.5B | $79.7B | $79.7B |
| Cost of sales | ($42.9B) | ($43.6B) | ($39.3B) | ($40.4B) |
| Gross profit | $45.4B | $45.8B | $40.4B | $39.3B |
| Distribution expenses | ($10.9B) | ($11.6B) | ($10.8B) | ($11.4B) |
| Commercial expenses | ($8.3B) | ($8.6B) | ($7.4B) | ($7.3B) |
| Administrative expenses | ($5.9B) | ($6.2B) | ($5.3B) | ($5.2B) |
| Other operating income/(expenses) | $2.4B | $2.5B | $2.0B | $2.5B |
| Exceptional items | $643.3M | ($100.8M) | ($206.4M) | ($143.3M) |
| Income from operations | $23.3B | $21.8B | $18.8B | $17.7B |
| Interest Income | $2.2B | $2.6B | $2.7B | $4.5B |
| Finance expenses | ($4.4B) | ($4.5B) | ($6.3B) | ($7.9B) |
| Other net financial results | ($1.8B) | ($412.8M) | — | — |
| Net financial results | ($4.0B) | ($2.3B) | ($3.6B) | ($3.4B) |
| Share of results of associates and joint ventures | $105.8M | $3.9M | ($185.3M) | ($29.1M) |
| Income before income tax | $19.4B | $19.5B | $15.0B | $14.2B |
| Income tax expenses | ($3.4B) | ($4.6B) | ($75.5M) | — |
| Net Income | $15.5B | $14.4B | $14.5B | $14.5B |
| Net Income Attributable to Noncontrolling Interest | $485.0M | $409.7M | $458.5M | $433.3M |
| Net income | $16.0B | $14.8B | $15.0B | $14.9B |
| Earnings Per Share (Basic) | $0.99 | $0.92 | $0.92 | $0.92 |
| Earnings Per Share (Diluted) | $0.99 | $0.91 | $0.92 | $0.91 |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Property, Plant and Equipment | $27.6B | $30.2B | $26.6B | $30.1B |
| Goodwill | $41.5B | $44.3B | $38.0B | $40.6B |
| Intangible assets | $11.0B | $12.5B | $10.0B | $9.2B |
| Investments in associates and joint ventures | $485.8M | $395.4M | $289.1M | $331.9M |
| Investment securities | $123.3M | $184.5M | $242.2M | $219.1M |
| Deferred tax assets | $8.4B | $8.7B | $8.0B | $6.4B |
| Employee benefits | $29.9M | $70.5M | $57.3M | $56.6M |
| Derivative financial instruments | $8.9M | — | $1.7M | $1.5M |
| Recoverable taxes | $10.1B | $10.5B | $11.3B | $6.7B |
| Other Non-Current Assets | $1.8B | $1.5B | $1.5B | $1.9B |
| Non-current assets | $101.2B | $108.4B | $96.1B | $100.1B |
| Investment securities | $1.7B | $1.2B | $277.2M | $454.5M |
| Inventory | $10.5B | $11.7B | $9.6B | $12.9B |
| Accounts Receivable | $6.4B | $6.3B | $5.7B | $5.3B |
| Derivative financial instruments | $769.2M | $1.2B | $378.0M | $272.3M |
| Recoverable taxes | $3.6B | $3.6B | $3.4B | $1.0B |
| Other assets | $1.9B | $1.6B | $1.1B | $1.0B |
| Cash and Cash Equivalents | $18.6B | $28.6B | $16.1B | $14.9B |
| Current assets | $43.5B | — | — | — |
| Assets held for sale | $379.4M | — | — | — |
| Current assets | $43.9B | $54.2B | $36.6B | $37.8B |
| Total assets | $145.1B | $162.5B | $132.6B | $138.0B |
| Total Stockholders' Equity | $58.3B | $58.2B | $58.2B | $58.1B |
| Reserves | $108.0B | $109.0B | $98.7B | $92.2B |
| Carrying value adjustments | ($78.4B) | ($68.6B) | ($77.9B) | ($68.4B) |
| Equity attributable to Ambev’s shareholders | $87.9B | $98.6B | $79.0B | $82.0B |
| Non-controlling interest | $860.7M | $938.4M | $1.2B | $1.4B |
| Total equity | $88.8B | $99.6B | $80.1B | $83.3B |
| Interest-bearing loans and borrowings, noncurrent | $2.2B | $2.2B | $2.2B | $2.8B |
| Employee benefits | $2.0B | $2.2B | $2.0B | $2.2B |
| Derivative financial instruments | $300.0K | $6.7M | $11.7M | $729.4M |
| Deferred tax liabilities | $3.9B | $5.0B | $3.3B | $3.7B |
| Income tax and social contribution payable | $713.6M | $1.4B | $1.5B | $1.6B |
| Taxes and contributions payable | $659.7M | $597.4M | $513.3M | $671.0M |
| Trade payables | $313.0M | $327.7M | $307.3M | $509.4M |
| Provisions | $877.7M | $670.9M | $418.4M | $180.7M |
| Other liabilities, including obligations related to the acquisition of a non-controlling interest | $4.3M | $1.1B | $1.1B | $1.9B |
| Non-current liabilities | $10.7B | $13.5B | $11.5B | $14.1B |
| Interest-bearing loans and borrowing | $1.2B | $1.3B | $1.3B | $982.6M |
| Payroll and social security payables | $2.2B | $2.8B | $2.1B | $2.3B |
| Dividends and interest on capital payables | $4.9B | $8.5B | $1.5B | $1.5B |
| Derivative financial instruments | $925.1M | $204.7M | $751.4M | — |
| Income tax and social contribution payable | $1.4B | $1.9B | $1.3B | $1.1B |
| Taxes and contributions payable | $6.0B | $5.6B | $6.2B | $5.8B |
| Trade payables | $23.7B | $25.2B | $23.2B | $24.3B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Profit or Loss | $16.0B | $14.8B | $15.0B | $14.9B |
| Depreciation, amortization and impairment | $6.8B | $7.1B | $6.4B | $6.0B |
| Impairment losses on receivables and inventory | $257.9M | $379.1M | $358.4M | $351.8M |
| Additions to/(reversals of) provisions and employee benefits | $521.2M | $348.0M | $233.8M | $232.7M |
| Net financial results | $4.0B | $2.3B | $3.6B | $3.4B |
| Losses/(gains) on sales of property, plant and equipment and intangible assets | ($85.2M) | ($121.3M) | ($86.4M) | ($88.8M) |
| Losses/(gains) on sales of operations in subsidiaries | ($862.0M) | — | — | — |
| Stock-Based Compensation (CF) | $454.2M | $400.9M | $331.6M | $313.9M |
| Income tax expenses | $3.4B | $4.6B | $75.5M | ($655.6M) |
| Share of results of associates and joint ventures | ($105.8M) | ($3.9M) | $185.3M | $29.1M |
| Hedge operations | ($689.0M) | ($967.2M) | ($37.9M) | ($466.6M) |
| Cash flow from operating activities before changes in working capital | $29.7B | $29.0B | $26.0B | $24.0B |
| (Increase)/decrease in trade and other receivables | ($312.9M) | $220.4M | ($1.4B) | ($322.5M) |
| Change in Inventory | ($30.9M) | ($1.7B) | $1.3B | ($3.1B) |
| Increase/(decrease) in trade and other payables | ($1.3B) | $1.3B | ($223.1M) | $726.6M |
| Cash generated from operations | $28.1B | $28.8B | $25.7B | $21.3B |
| Interest paid | ($886.9M) | ($742.1M) | ($666.1M) | ($826.3M) |
| Interest received | $1.4B | $1.6B | $1.2B | $1.1B |
| Dividends received | $38.8M | $26.6M | $12.9M | $6.6M |
| Income tax paid | ($4.2B) | ($3.6B) | ($1.6B) | ($919.0M) |
| Cash flow from operating activities | $24.5B | $26.1B | $24.7B | $20.6B |
| Proceeds from sales of property, plant and equipment and intangible assets | $167.3M | $170.6M | $154.1M | $133.9M |
| Acquisitions of property, plant and equipment and intangible assets | ($4.6B) | ($4.7B) | ($6.0B) | ($6.5B) |
| Sale/(acquisition) of subsidiaries, net of cash acquired | ($91.6M) | $10.3M | ($46.5M) | ($3.0M) |
| Investments in short-term debt securities and net proceeds/(acquisitions) of debt securities | ($441.5M) | ($888.6M) | $136.4M | $1.4B |
| Net proceeds/(acquisitions) of other assets | $6.2M | ($6.6M) | $400.0K | $15.0M |
| Cash flow from/(used in) investing activities | ($5.0B) | ($5.5B) | ($5.8B) | ($5.0B) |
| Capital increases(reduction)/ in associates and subsidiaries | ($64.9M) | — | — | — |
| Proceeds from/(buybacks of) treasury shares | -1.9B | -467.6M | -119.0M | — |
| Proceeds from Debt Issuance | $51.1M | $489.1M | $49.8M | $274.9M |
| Repayments of borrowing | ($177.5M) | ($604.7M) | ($227.4M) | ($230.2M) |
| Cash net of finance costs other than interest | ($3.1B) | ($2.7B) | ($2.7B) | ($3.3B) |
| Payments of lease liabilities | ($1.2B) | ($1.3B) | ($1.2B) | ($854.7M) |
| Dividends and interest on capital paid | ($20.5B) | ($4.1B) | ($11.9B) | ($12.2B) |
| Cash flow from/(used in) financing activities | ($26.8B) | ($10.4B) | ($16.1B) | ($16.3B) |
| Net increase/(decrease) in cash and cash equivalents | ($7.3B) | $10.3B | $2.8B | ($699.9M) |
| Cash and cash equivalents at the beginning of the year | $28.6B | $16.1B | $14.9B | $16.6B |
| Net Change in Cash | ($2.7B) | $2.3B | ($1.6B) | ($1.0B) |
| Cash and cash equivalents at the end of the year | $18.6B | $28.6B | — | — |
Ambev SA ADR score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.