Ambev S.A. (ABEV) — Financial statements
Income statement, balance sheet, and cash flow for Ambev S.A. — annual and quarterly history with growth and margin analysis.
| Metric (BRL Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 88,243↓1.4% | 89,453↑12.2% | 79,737↑0.0% | 79,709↑9.4% | 72,854 | |
| Cost of Revenue | 42,864↓1.7% | 43,615↑11.0% | 39,292↓2.8% | 40,422↑13.4% | 35,660 | |
| Gross Profit | 45,378↓1.0% | 45,838↑13.3% | 40,445↑2.9% | 39,287↑5.6% | 37,195 | |
| Operating Expenses | ||||||
| R&D Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| General & Administrative Expenses | 5,863↓5.5% | 6,201↑17.6% | 5,274↑0.7% | 5,237↑7.4% | 4,877 | |
| Selling & Marketing Expenses | 19,277↓4.5% | 20,191↑11.2% | 18,163↓3.0% | 18,733↑10.4% | 16,968 | |
| SG&A Expenses | 25,140↓4.7% | 26,392↑12.6% | 23,437↓2.2% | 23,970↑9.7% | 21,846 | |
| Other Expenses | -2,084↑11.6% | -2,357↓29.3% | -1,823↑23.1% | -2,371↓36.9% | -1,731 | |
| Operating Expenses | 23,056↓4.1% | 24,036↑11.2% | 21,614↑0.1% | 21,599↑7.4% | 20,114 | |
| Total Costs & Expenses | 65,920↓2.6% | 67,651↑11.1% | 60,906↓1.8% | 62,021↑11.2% | 55,774 | |
| Operating Results | ||||||
| Operating Income | 22,323↑2.4% | 21,802↑15.8% | 18,831↑6.5% | 17,688↑3.6% | 17,080 | |
| Depreciation & Amortization | 6,832↓4.1% | 7,126↑11.0% | 6,418↑7.7% | 5,956↑10.4% | 5,397 | |
| EBITDA | 28,975↓0.1% | 29,012↑19.5% | 24,270↑5.1% | 23,085↑10.0% | 20,993 | |
| EBIT | 22,142↑1.2% | 21,886↑22.6% | 17,852↑4.2% | 17,128↑9.8% | 15,597 | |
| Interest & Other Income | ||||||
| Net Interest Income | -1,317↓70.1% | -774↓381.3% | -161↑8.8% | -176↑38.7% | -288 | |
| Interest Income | 1,403↓13.6% | 1,624↑288.9% | 418↓0.5% | 420↓63.3% | 1,144 | |
| Interest Expense | 2,721↑13.4% | 2,398↑314.6% | 578↓3.0% | 596↓58.4% | 1,432 | |
| Non-Operating Income | 180↑315.0% | -84↓108.6% | 979↑75.1% | 559↓62.3% | 1,484 | |
| Other Income / Expenses | -2,901↓25.3% | -2,314↑39.0% | -3,795↓9.9% | -3,452↓3.9% | -3,321 | |
| Income Before Tax | 19,422↓0.3% | 19,487↑29.6% | 15,036↑5.6% | 14,236↑3.5% | 13,759 | |
| Income Tax Expense | 3,433↓26.0% | 4,640↑6046.2% | 76↑111.5% | -656↓203.0% | 637 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | 15,988↑7.7% | 14,847↓0.8% | 14,960↑0.5% | 14,891↑13.5% | 13,123 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income | 15,503↑7.4% | 14,437↓0.4% | 14,502↑0.3% | 14,458↑14.1% | 12,671 | |
| Bottom-Line Net Income | 15,503↑7.4% | 14,437↓0.4% | 14,502↑0.3% | 14,458↑14.1% | 12,671 | |
| EPS (Basic) | 0.99↑7.6% | 0.92↑0.0% | 0.92↑0.0% | 0.92↑13.6% | 0.81 | |
| EPS (Diluted) | 0.99↑8.8% | 0.91↓1.1% | 0.92↑1.1% | 0.91↑13.7% | 0.80 | |
| Weighted Average Shares | 15,618↓1.2% | 15,815↓0.2% | 15,839↑0.6% | 15,742↑0.0% | 15,737 | |
| Weighted Average Diluted Shares | 15,684↓0.8% | 15,815↓0.2% | 15,839↓0.1% | 15,849↓0.1% | 15,857 | |
* All figures in Millions of BRL, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.