AMBEV S.A.ABEV

Market cap

P/E ratio

	Dec 31, 2017	Dec 31, 2018	Dec 31, 2019	Dec 31, 2020	Dec 31, 2021	Dec 31, 2022	Dec 31, 2023	Dec 31, 2024
Net sales	-	50,231	52,600	58,379	72,854	79,709	79,737	89,453
Cost of sales	18,042	19,270	21,678	27,066	35,660	40,422	39,292	43,615
Gross profit	29,858	30,962	30,922	31,313	37,195	39,287	40,445	45,838
Distribution expenses	6,296	6,737	6,951	8,245	9,933	11,395	10,751	11,557
Commercial expenses	5,620	5,730	5,696	6,375	7,036	7,337	7,413	8,634
Administrative expenses	2,624	2,367	2,680	2,949	4,877	5,237	5,274	6,201
Other operating income/(expenses)	1,217	947	878	2,679	2,124	2,514	2,029	2,457
Exceptional items	-109	-86	-	-	-393	-143	-206	-101
Income from operations	16,427	16,989	16,075	15,972	17,080	17,688	18,831	21,802
Finance income	774	739	1,639	2,996	2,222	4,469	2,670	2,605
Finance expenses	4,268	4,562	4,748	5,431	5,428	7,892	6,280	4,511
Other net financial results	-	-	-	-	-	-	-	413
Net financial results (i)	-3,494	-3,823	-3,109	-2,434	-3,205	-3,423	-3,610	-2,318
Share of results of associates and joint ventures	-3	1	-22	-43	-116	-29	-185	4
Income before income tax	12,930	13,167	12,943	13,494	13,759	14,236	15,036	19,487
Income tax expenses	-	-	-	-	-	-	76	4,640
Net income	7,851	11,377	12,188	11,732	13,123	14,891	14,960	14,847
Equity holders of Ambev	7,332	11,025	11,780	11,379	12,671	14,458	14,502	14,437
Non-controlling interest	519	353	408	353	452	433	459	410
Basic earnings per share – common – R$	0.47	0.701	0.749	0.723	0.805	0.918	0.921	0.918
Diluted earnings per share – common – R$	0.46	0.695	0.742	0.717	0.799	0.912	0.916	0.913