Ambev Past Earnings Performance

Past criteria checks 2/6

Ambev has been growing earnings at an average annual rate of 7.2%, while the Beverage industry saw earnings growing at 6.5% annually. Revenues have been growing at an average rate of 10.4% per year. Ambev's return on equity is 14.5%, and it has net margins of 16.9%.

Key information

7.2%

Earnings growth rate

7.2%

EPS growth rate

Beverage Industry Growth	11.1%
Revenue growth rate	10.4%
Return on equity	14.5%
Net Margin	16.9%
Last Earnings Update	30 Sep 2024

Recent past performance updates

Recent updates

Revenue & Expenses Breakdown

How Ambev makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

BASE:ABEVD Revenue, expenses and earnings (BRL Millions)
Date	Revenue	Earnings	G+A Expenses
30 Sep 24	82,406	13,945	24,546
30 Jun 24	80,628	14,396	23,815
31 Mar 24	79,481	14,503	23,492
31 Dec 23	79,737	14,502	23,551
30 Sep 23	82,441	15,081	24,575
30 Jun 23	82,711	14,278	25,129
31 Mar 23	81,801	14,745	24,824
31 Dec 22	79,709	14,458	24,077
30 Sep 22	79,027	13,098	23,906
30 Jun 22	76,932	13,542	23,000
31 Mar 22	74,654	13,458	22,372
31 Dec 21	72,854	12,671	21,961
30 Sep 21	69,400	15,850	20,445
30 Jun 21	66,512	14,572	19,747
31 Mar 21	62,416	12,913	18,424
31 Dec 20	58,379	11,379	17,685
30 Sep 20	55,085	8,693	16,756
30 Jun 20	51,438	8,916	15,859
31 Mar 20	51,968	10,210	15,816
31 Dec 19	52,005	11,780	15,433
30 Sep 19	52,761	11,041	15,155
30 Jun 19	51,867	11,368	14,921
31 Mar 19	51,231	11,151	14,852
31 Dec 18	50,231	10,995	14,795
30 Sep 18	49,241	10,754	15,099
30 Jun 18	49,539	7,930	15,122
31 Mar 18	48,298	7,639	14,768
31 Dec 17	47,899	7,332	14,617
30 Sep 17	46,050	8,885	14,082
30 Jun 17	45,170	11,946	14,038
31 Mar 17	45,279	11,979	14,163
31 Dec 16	45,603	12,547	14,282
30 Sep 16	47,721	12,028	14,587
30 Jun 16	47,984	11,918	14,312
31 Mar 16	47,517	12,380	13,939
31 Dec 15	46,720	12,424	13,557
30 Sep 15	43,657	12,808	12,582
30 Jun 15	41,536	12,671	11,964
31 Mar 15	39,804	12,330	11,531
31 Dec 14	38,080	12,066	11,059
30 Sep 14	36,980	12,201	10,696
30 Jun 14	36,899	11,681	10,495
31 Mar 14	36,292	10,662	10,298
31 Dec 13	35,079	9,557	9,895

Quality Earnings: ABEVD has high quality earnings.

Growing Profit Margin: ABEVD's current net profit margins (16.9%) are lower than last year (18.3%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: ABEVD's earnings have grown by 7.2% per year over the past 5 years.

Accelerating Growth: ABEVD's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: ABEVD had negative earnings growth (-7.5%) over the past year, making it difficult to compare to the Beverage industry average (2.2%).

Return on Equity

High ROE: ABEVD's Return on Equity (14.5%) is considered low.

Return on Assets

Return on Capital Employed

Discover strong past performing companies

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/18 23:32
End of Day Share Price	2024/12/18 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Ambev S.A. is covered by 37 analysts. 16 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Ishan Majumdar	Baptista Research
Benjamin Theurer	Barclays
Berenice Muñoz	Barclays