Ambev revenue and financials
Secondary listing. The primary listing is Ambev · B3 (BRL)
$3.28Change from previous close: +0.77%Absolute change: +$0.02
In the fiscal year ended December 2025, Ambev reported revenue of R$88.24B (−1.35% year over year). Net income was R$15.5B, a net margin of 17.6%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- −1.35%
- 2025 vs 2024
- Net income growth
- +7.39%
- 2025 vs 2024
- Net margin
- 17.6%
- 2024: 16.1%
Financial data
Amounts in millions of BRL; per-share values in BRL; shares in millions.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 24,450 | 26,099 | 24,711 | 20,642 | 22,901 | 18,856 | 18,381 | 18,346 | 18,261 | 12,344 |
| Depreciation and amortization | 6,001 | 6,367 | 5,844 | 5,555 | 5,097 | — | — | — | — | — |
| Capital expenditure | -4,591 | -4,749 | -6,004 | -6,533 | -7,677 | -4,693 | -5,069 | -3,571 | -3,204 | -4,035 |
| Investing cash flow | -4,950 | -5,463 | -5,766 | -5,004 | -7,735 | — | — | — | — | — |
| Financing cash flow | -26,772 | -10,352 | -16,115 | -16,338 | -16,042 | — | — | — | — | — |
| Dividends paid | -20,464 | -4,056 | -11,922 | -12,242 | -11,115 | — | — | — | — | — |
| Share repurchases | -1,926 | -1,717 | -119 | -0.1 | 0.0 | 0.0 | -0.5 | -3,061 | — | — |
| Debt issued | 51.1 | 489 | 49.8 | 275 | — | — | — | — | — | — |
| Debt repaid | -1,330 | -1,935 | -1,408 | -1,085 | — | — | — | — | — | — |
| Effect of exchange rates | -2,686 | 2,253 | -1,623 | -1,045 | 383 | — | — | — | — | — |
| Net change in cash | -9,957 | 12,537 | 1,207 | -1,745 | -493 | — | — | — | — | — |
| Free cash flow | 19,860 | 21,350 | 18,707 | 14,109 | 15,224 | — | — | — | — | — |
| Levered free cash flow | 12,534 | 19,344 | 13,432 | 8,447 | 11,736 | — | — | — | — | — |