회사 개요
Ambev S.A. is a leading producer, distributor, and seller of beer, draft beer, soft drinks, malt and food, and other beverages operating across Brazil, Central America and the Caribbean, Latin America South, and Canada. The company functions within the Consumer Defensive sector and specifically the Beverages - Brewers industry, positioning it as a staple asset that typically exhibits lower volatility than cyclical sectors due to the essential nature of its products. As of the latest data, Ambev S.A. holds a substantial market capitalization of $49.39B and generates annual revenue of $88.24B, supporting a workforce of 39000 employees. These financial metrics indicate a massive operational scale, reflecting the company's dominance as a primary supplier of consumable goods in its extensive geographic footprint. The sheer size of its market capitalization relative to its revenue suggests a highly capitalized entity with significant brand equity and distribution networks that define its position in the global beverage landscape.
재무 건전성
Ambev S.A. reported a revenue of $88.24B, a net income of $15.50B, and an EBITDA of $27.22B for the trailing twelve months. The substantial gap between the $88.24B revenue and the $15.50B net income reveals a cost structure where operating expenses and taxes consume a significant portion of top-line sales, though the resulting profit margin remains robust. The company generated $12.53B in free cash flow, which provides a strong buffer for financial flexibility, allowing for capital expenditures, share buybacks, or debt repayment without relying on external financing. The gross margin stands at 51.4%, indicating high pricing power or low cost of goods sold relative to sales; the operating margin of 28.2% demonstrates efficient management of operating expenses, while the profit margin of 17.6% reflects the final bottom-line efficiency after all costs and taxes. Regarding liquidity and leverage, the company holds $20.32B in cash against $3.39B in debt, resulting in a debt-to-equity ratio of 3.81, which suggests a leveraged balance sheet where equity financing is lower relative to debt obligations. However, the current ratio is recorded at 0.96, which indicates that short-term assets are slightly below short-term liabilities, suggesting a need for careful liquidity management or reliance on cash generation to meet immediate obligations. Furthermore, the return on equity is 17.0% and the return on assets is 9.1%, metrics that reveal management's effectiveness in generating profits from shareholder equity and utilizing total assets to drive earnings, respectively.
밸류에이션 평가
The trailing twelve-month P/E ratio is 16.58, while the forward P/E is 14.78, implying that the market expects earnings growth in the future that would justify a lower multiple compared to historical performance. The price-to-book ratio is 2.91, indicating that the stock trades at a premium of nearly three times its book value, reflecting investor confidence in the company's intangible assets and future cash flow potential. Alternative valuation metrics include a price-to-sales ratio of 0.56 and an EV/EBITDA of 1.22, which suggest the company is valued based on sales and earnings power at levels that may appear compressed when compared to its high profitability margins. The 52-week high is $3.24 and the 52-week low is $2.10, providing a trading range that contextualizes the current share price position within the last year's volatility. The beta value is 0.31, which signifies that the stock price is significantly less volatile than the broader market, moving only about 31% as much as the market index during periods of fluctuation.
Growth & Income
Ambev S.A. experienced a revenue growth rate of -8.2% year-over-year and an earnings growth rate of -10.1% year-over-year, indicating a contraction phase where earnings are declining at a faster rate than revenue, which often points to margin compression or specific operational headwinds. As a significant dividend payer, the company offers a dividend yield of 9.9% with a payout ratio of 113.1%, meaning the dividends distributed exceed the current net income, which requires careful analysis of sustainability given the recent negative earnings growth. The high payout ratio combined with negative earnings growth suggests the company is utilizing accumulated cash reserves or prior years' profits to maintain dividend levels rather than reinvesting all earnings for immediate growth. Overall, the growth and income profile presents a scenario of high current income yield supported by a large cash balance, albeit with recent top-line and bottom-line contraction that investors must weigh against the attractive yield.