Market Closed -
Sao Paulo
01:33:28 2024-05-20 pm EDT
|
5-day change
|
1st Jan Change
|
321.1
BRL
|
-5.32%
|
|
-1.02%
|
+9.52%
|
Fiscal Period: February |
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
2027
|
---|
Capitalization
1 |
32,790
|
41,582
|
40,487
|
41,272
|
45,429
|
45,841
|
-
|
-
|
Enterprise Value (EV)
1 |
44,893
|
51,563
|
50,704
|
53,600
|
57,155
|
57,425
|
56,866
|
56,565
|
P/E ratio
|
-2,463
x
|
20.9
x
|
-980
x
|
-2,034
x
|
26.5
x
|
18.7
x
|
16.9
x
|
15.4
x
|
Yield
|
1.74%
|
1.4%
|
1.41%
|
1.43%
|
1.43%
|
1.59%
|
1.73%
|
1.87%
|
Capitalization / Revenue
|
3.93
x
|
4.83
x
|
4.59
x
|
4.37
x
|
4.56
x
|
4.32
x
|
4.04
x
|
3.78
x
|
EV / Revenue
|
5.38
x
|
5.99
x
|
5.75
x
|
5.67
x
|
5.74
x
|
5.41
x
|
5.01
x
|
4.66
x
|
EV / EBITDA
|
14.7
x
|
16.2
x
|
15.5
x
|
15.7
x
|
15.6
x
|
14.3
x
|
13.1
x
|
12
x
|
EV / FCF
|
24.6
x
|
26.6
x
|
30.2
x
|
31.1
x
|
37.8
x
|
29.8
x
|
24.3
x
|
20.6
x
|
FCF Yield
|
4.06%
|
3.77%
|
3.31%
|
3.21%
|
2.64%
|
3.35%
|
4.12%
|
4.85%
|
Price to Book
|
2.38
x
|
3.06
x
|
3.08
x
|
4.5
x
|
4.69
x
|
4.15
x
|
3.71
x
|
3.33
x
|
Nbr of stocks (in thousands)
|
190,824
|
193,298
|
187,548
|
184,498
|
182,796
|
182,953
|
-
|
-
|
Reference price
2 |
172.4
|
214.1
|
215.6
|
223.7
|
248.5
|
250.6
|
250.6
|
250.6
|
Announcement Date
|
4/3/20
|
4/8/21
|
4/7/22
|
4/6/23
|
4/11/24
|
-
|
-
|
-
|
Fiscal Period: February |
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
2027
|
---|
Net sales
1 |
8,344
|
8,615
|
8,821
|
9,453
|
9,962
|
10,621
|
11,342
|
12,126
|
EBITDA
1 |
3,059
|
3,182
|
3,273
|
3,420
|
3,673
|
4,019
|
4,354
|
4,723
|
EBIT
1 |
2,732
|
2,888
|
2,936
|
3,037
|
3,246
|
3,553
|
3,872
|
4,228
|
Operating Margin
|
32.75%
|
33.52%
|
33.28%
|
32.13%
|
32.58%
|
33.45%
|
34.14%
|
34.86%
|
Earnings before Tax (EBT)
1 |
-945.2
|
2,543
|
310.4
|
383.6
|
2,222
|
3,084
|
3,402
|
3,693
|
Net income
1 |
-11.8
|
1,998
|
-40.4
|
-71
|
1,727
|
2,433
|
2,663
|
2,839
|
Net margin
|
-0.14%
|
23.19%
|
-0.46%
|
-0.75%
|
17.34%
|
22.91%
|
23.48%
|
23.42%
|
EPS
2 |
-0.0700
|
10.23
|
-0.2200
|
-0.1100
|
9.390
|
13.40
|
14.81
|
16.25
|
Free Cash Flow
1 |
1,825
|
1,942
|
1,679
|
1,722
|
1,511
|
1,926
|
2,344
|
2,743
|
FCF margin
|
21.87%
|
22.54%
|
19.03%
|
18.21%
|
15.17%
|
18.13%
|
20.67%
|
22.62%
|
FCF Conversion (EBITDA)
|
59.65%
|
61.03%
|
51.28%
|
50.33%
|
41.13%
|
47.91%
|
53.83%
|
58.08%
|
FCF Conversion (Net income)
|
-
|
97.19%
|
-
|
-
|
87.47%
|
79.14%
|
88.03%
|
96.6%
|
Dividend per Share
2 |
3.000
|
3.000
|
3.040
|
3.200
|
3.560
|
3.978
|
4.345
|
4.681
|
Announcement Date
|
4/3/20
|
4/8/21
|
4/7/22
|
4/6/23
|
4/11/24
|
-
|
-
|
-
|
Fiscal Period: February |
2022 Q3
|
2022 Q4
|
2023 Q1
|
2023 Q2
|
2023 Q3
|
2023 Q4
|
2024 Q1
|
2024 Q2
|
2024 Q3
|
2024 Q4
|
2025 Q1
|
2025 Q2
|
2025 Q3
|
2025 Q4
|
2026 Q1
|
---|
Net sales
1 |
2,321
|
2,102
|
2,363
|
2,655
|
2,436
|
1,998
|
2,515
|
2,837
|
2,471
|
2,139
|
2,685
|
3,022
|
2,642
|
2,277
|
2,854
|
EBITDA
1 |
910.1
|
747.6
|
885.2
|
973.5
|
864.6
|
697.2
|
932.5
|
1,076
|
928.2
|
736.8
|
1,020
|
1,169
|
1,015
|
815.4
|
1,096
|
EBIT
1 |
823.8
|
658.9
|
792.5
|
882.7
|
769.7
|
591.8
|
827.2
|
967.8
|
819.8
|
630.7
|
904.8
|
1,050
|
901.1
|
700
|
978.4
|
Operating Margin
|
35.5%
|
31.34%
|
33.54%
|
33.25%
|
31.59%
|
29.62%
|
32.89%
|
34.12%
|
33.18%
|
29.48%
|
33.7%
|
34.75%
|
34.11%
|
30.74%
|
34.28%
|
Earnings before Tax (EBT)
1 |
580.1
|
497.9
|
524.7
|
-1,008
|
610.8
|
256.4
|
230.4
|
847.9
|
650.9
|
492.6
|
780.7
|
933.8
|
801.4
|
574.7
|
858.9
|
Net income
1 |
470.8
|
395.4
|
389.5
|
-1,151
|
467.7
|
223
|
135.9
|
690
|
509.1
|
392.4
|
627.7
|
751.4
|
642.7
|
449.9
|
683.7
|
Net margin
|
20.29%
|
18.81%
|
16.48%
|
-43.36%
|
19.2%
|
11.16%
|
5.4%
|
24.32%
|
20.6%
|
18.34%
|
23.38%
|
24.86%
|
24.33%
|
19.76%
|
23.96%
|
EPS
2 |
2.480
|
2.070
|
2.060
|
-6.300
|
2.520
|
1.210
|
0.7400
|
3.740
|
2.760
|
2.140
|
3.458
|
4.118
|
3.495
|
2.484
|
3.768
|
Dividend per Share
2 |
0.7600
|
0.7600
|
0.8000
|
0.8000
|
0.8000
|
0.8000
|
0.8900
|
0.8900
|
0.8900
|
0.8900
|
0.9854
|
0.9849
|
0.9853
|
0.9847
|
1.031
|
Announcement Date
|
1/6/22
|
4/7/22
|
6/30/22
|
10/6/22
|
1/5/23
|
4/6/23
|
6/30/23
|
10/5/23
|
1/5/24
|
4/11/24
|
-
|
-
|
-
|
-
|
-
|
Fiscal Period: February |
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
2027
|
---|
Net Debt
1 |
12,103
|
9,982
|
10,217
|
12,328
|
11,727
|
11,584
|
11,025
|
10,724
|
Net Cash position
1 |
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Leverage (Debt/EBITDA)
|
3.957
x
|
3.137
x
|
3.122
x
|
3.604
x
|
3.192
x
|
2.882
x
|
2.532
x
|
2.271
x
|
Free Cash Flow
1 |
1,825
|
1,942
|
1,679
|
1,722
|
1,511
|
1,926
|
2,344
|
2,743
|
ROE (net income / shareholders' equity)
|
14.4%
|
15.1%
|
15.5%
|
19.7%
|
24.4%
|
23.2%
|
22.7%
|
22.2%
|
ROA (Net income/ Total Assets)
|
6.29%
|
7.15%
|
7.4%
|
7.85%
|
8.81%
|
9.24%
|
9.49%
|
9.52%
|
Assets
1 |
-187.7
|
27,934
|
-545.9
|
-904.7
|
19,600
|
26,331
|
28,058
|
29,825
|
Book Value Per Share
2 |
72.30
|
70.10
|
70.10
|
49.70
|
53.00
|
60.40
|
67.60
|
75.20
|
Cash Flow per Share
2 |
13.10
|
14.40
|
16.20
|
16.30
|
15.20
|
16.10
|
17.80
|
19.70
|
Capex
1 |
727
|
865
|
1,027
|
1,035
|
1,269
|
1,387
|
1,139
|
923
|
Capex / Sales
|
8.71%
|
10.04%
|
11.64%
|
10.95%
|
12.74%
|
13.06%
|
10.04%
|
7.61%
|
Announcement Date
|
4/3/20
|
4/8/21
|
4/7/22
|
4/6/23
|
4/11/24
|
-
|
-
|
-
|
Last Close Price
250.6
USD Average target price
300.3
USD Spread / Average Target +19.84% Consensus |
1st Jan change
|
Capi.
|
---|
| +5.48% | 137B | | +5.18% | 59.13B | | +3.00% | 24.28B | | +16.89% | 19.8B | | -20.25% | 19.57B | | +13.41% | 19.31B | | +10.53% | 15.41B | | +21.95% | 13.69B | | -9.80% | 11.98B |
Other Brewers
|