Ambev (ABEV) Financial Statements & Analysis

Ambev (ABEV) Income Statement

Ambev reported revenue of BRL 88.24B in fiscal 2025 (fiscal year ended Dec 31, 2025), down 1.4% from BRL 89.45B a year earlier. Net income was BRL 15.50B, up 7.4% year over year, a net margin of 17.6%. Gross margin was 51.4% and operating margin 25.3%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was BRL 20.15B, up 0.3% from the same quarter a year earlier.

Ambev Income Statement Analysis

Values in billions BRL

Income Statement Balance Sheet Cash Flow Ratios

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Ambev S.A. income statement - Annual data in billions BRL
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	88.24	89.45	79.74	79.71	72.85	58.38	52.01	50.23	47.90
Cost of Revenue	42.86	43.62	39.29	40.42	35.66	27.07	21.68	19.25	18.03
Gross Profit	45.38	45.84	40.45	39.29	37.19	31.31	30.33	30.98	29.87
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	25.14	26.39	23.44	23.97	21.85	17.57	15.33	14.69	14.43
Operating Expenses	23.06	24.33	21.67	21.60	20.11	15.34	14.25	13.83	13.32
Operating Income	22.32	21.51	18.77	17.69	17.08	15.97	16.07	17.15	16.55
Other Income/Expense
Interest Income	1.40	1.62	1.12	0.42	1.14	0.44	0.27	0.45	0.77
Interest Expense	2.72	2.40	2.82	0.60	1.43	0.41	0.46	1.28	4.27
Other Income/Expense	-2.90	-1.42	-2.96	-3.45	-3.32	-2.48	-3.13	-4.03	-3.72
Income
Income Before Tax	19.42	19.49	15.04	14.24	13.76	13.49	12.94	13.12	12.84
Income Tax Expense	3.43	4.64	0.08	-0.66	0.64	1.76	0.75	1.77	5.05
Net Income	15.50	14.44	14.50	14.46	12.67	11.38	11.78	11.00	7.27
Net Income - Continuous Operations	15.50	14.85	14.96	14.46	12.67	11.38	11.78	11.00	7.27
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	28.97	29.01	24.27	23.08	20.99	20.77	19.44	19.30	18.98
EBIT	22.48	21.89	17.85	17.63	17.29	-	-	-	-
Depreciation & Amortization	6.83	7.13	6.42	5.96	5.40	5.17	4.68	4.45	4.04
Earnings Per Share
Basic EPS	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	-
Diluted EPS	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	-
Basic Shares Outstanding	15.62	15.73	15.74	15.74	15.74	15.73	15.73	15.72	15.71
Diluted Shares Outstanding	15.68	15.82	15.84	15.85	15.86	15.87	15.87	15.86	15.71

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Ambev Financial Statements

What was Ambev's revenue in fiscal 2025?

Ambev reported revenue of BRL 88.24B in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 1.4% from BRL 89.45B a year earlier.

Is Ambev profitable?

Yes. Ambev earned net income of BRL 15.50B in fiscal 2025, a net margin of 17.6%. In fiscal 2024 it earned BRL 14.44B.

What is Ambev's operating margin?

Ambev's operating income was BRL 22.32B on revenue of BRL 88.24B in fiscal 2025, an operating margin of 25.3%, compared with 24.0% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition