Ambev S.A.

ABEVNYSEConsumer Defensive● Active

$3.08

$-0.04(-1.34%)

Market Cap$48.0B

P/E Ratio—

52W High$3.45

52W Low$2.1

Avg Volume27.7M

Open$3.10

Beta0.27

Free Cash Flow Financials Revenue

Ambev S.A. (ABEV) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

ABEV · free cash flow · updated Jun 8, 2026

Core FCF metrics

ABEV · FCF · TTM · margin & CAGR

Free cash flow was $19.86B for FY2025 (fiscal year ending 2025-12-31), down 7.0% year-over-year The FCF margin was 22.5%. Five-year CAGR stands at +7.0%.

FY2025 Free Cash Flow$19.86B▼ -7.0% YoY

Trailing 12M (TTM)$22.15Btrailing 4 quarters sum

FCF Margin22.5%$19.86B ÷ revenue

3-Year CAGR+12.1%FY2022 → FY2025

5-Year CAGR+7.0%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

ABEV · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$24.45B(4.59B)$19.86B▼ 7.0%22.5%

FY2024$26.10B(4.75B)$21.35B▲ +14.1%23.9%

FY2023$24.71B(6.00B)$18.71B▲ +32.6%23.5%

FY2022$20.64B(6.53B)$14.11B▼ 7.3%17.7%

FY2021$22.90B(7.68B)$15.22B▲ +7.5%20.9%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

ABEV · P/FCF · FCF yield · FCF per share

Ambev S.A. (ABEV) trades at a FCF yield of 8.91% and a price-to-free-cash-flow ratio of 2.2x. FCF per share stands at $1.42, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

8.91%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$1.42

TTM FCF ÷ Shares Outstanding

Price / FCF

x2.2

Share Price ÷ FCF per Share

EV / FCF (TTM)

x10.6

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

ABEV · cash flow statement · operating / investing / financing

For FY2025, Ambev S.A. generated $24.45B in operating cash flow and spent 4.59B in capital expenditures, yielding $19.86B in free cash flow.

Operating Activities

+$24.45B

Cash from core business operations

2025-12-31

Investing Activities

−$4.95B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$26.77B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($24.45B) − |CapEx| (4.59B) = FCF ($19.86B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Consumer Defensive)

ABEV vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Ambev S.A.YOU

ABEV

$19.86B-7.0%22.5%

100%

The Procter & Gamble Company

$14.04B-15.0%16.7%

71%

Philip Morris International Inc.

$10.66B-1.0%26.2%

54%

Costco Wholesale Corporation

COST

$7.84B+18.2%2.8%

39%

The Coca-Cola Company

$5.30B+11.7%11.0%

27%

Consumer Defensive · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Ambev S.A. (ABEV) reported free cash flow of $19.86B for FY2025 (fiscal year ending 2025-12-31), down 7.0% year-over-year. The FCF margin was 22.5%.

Based on available data, Ambev S.A. has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $21.35B in FY2024. The 5-year CAGR stands at +7.0%.

Ambev S.A.'s FCF yield is 8.91% and price-to-FCF ratio is 2.2x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

ABEV free cash flow · 8 questions

Ambev S.A. free cash flow was $19.86B for FY2025, down 7.0% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $22.15B.

ABEV free cash flowABEV FCFABEV FCF 2025ABEV free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Ambev S.A. · Ambev S.A. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026