Ambev S.A. (ABEV) Income Statement
ABEV 2025 at a glance
Fiscal year ended December 31, 2025 · Brazilian reaisABEV revenue and net income
Where ABEV's revenue goes
2025Each bar shows an amount and its share of revenue. ABEV kept 17.6% of revenue as net income.
ABEV profit margins
ABEV growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −1.4% | +3.4% | +8.6% | +6.6% |
| Gross profit | −1.0% | +4.9% | +7.7% | +4.0% |
| Operating income | +2.4% | +8.1% | +6.9% | +1.7% |
| Net income | +7.4% | +2.4% | +6.4% | +2.2% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ABEV income statement in Brazilian reais
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | R$88.24B | R$89.45B | R$79.74B | R$79.71B | R$72.85B | R$58.38B | R$52.01B | R$50.23B | R$47.90B | R$45.60B |
| Cost of revenue | R$42.86B | R$43.62B | R$39.29B | R$40.42B | R$35.66B | R$27.07B | R$21.68B | R$19.25B | R$18.03B | R$16.68B |
| Gross profit | R$45.38B | R$45.84B | R$40.45B | R$39.29B | R$37.19B | R$31.31B | R$30.33B | R$30.98B | R$29.87B | R$28.92B |
| Research & development | — | — | — | — | — | — | R$0 | R$0 | R$0 | R$0 |
| Sales, general & admin | R$5.86B | R$6.20B | R$5.27B | R$5.24B | R$4.88B | R$2.95B | R$2.68B | R$2.36B | R$2.62B | R$2.17B |
| Total operating expenses | R$23.06B | R$24.04B | R$21.61B | R$21.60B | R$20.11B | R$15.34B | R$14.25B | R$13.83B | R$13.32B | R$11.82B |
| Operating income | R$22.32B | R$21.80B | R$18.83B | R$17.69B | R$17.08B | R$15.97B | R$16.07B | R$17.15B | R$16.55B | R$17.11B |
| Interest income | R$1.40B | R$1.62B | R$2.20B | R$2.17B | R$1.10B | R$2.25B | R$1.07B | R$454.0M | R$458.8M | R$513.6M |
| Interest expense | R$2.72B | R$2.40B | R$578.4M | R$596.1M | R$1.43B | R$414.8M | R$462.1M | R$1.28B | R$4.27B | R$1.54B |
| Income before taxes | R$19.42B | R$19.49B | R$15.04B | R$14.24B | R$13.76B | R$13.49B | R$12.94B | R$13.12B | R$12.84B | R$13.40B |
| Income taxes | R$3.43B | R$4.64B | R$75.5M | −R$655.6M | R$636.6M | R$1.76B | R$754.7M | R$1.77B | R$5.05B | R$315.0M |
| Net income | R$15.50B | R$14.44B | R$14.50B | R$14.46B | R$12.67B | R$11.38B | R$11.78B | R$10.99B | R$7.27B | R$12.55B |
| EBITDA | R$28.97B | R$29.01B | R$24.27B | R$23.08B | R$20.99B | R$20.77B | R$19.44B | R$19.30B | R$18.98B | R$19.18B |
| Gross margin | 51.4% | 51.2% | 50.7% | 49.3% | 51.1% | 53.6% | 58.3% | 61.7% | 62.4% | 63.4% |
| Operating margin | 25.3% | 24.4% | 23.6% | 22.2% | 23.4% | 27.4% | 30.9% | 34.1% | 34.6% | 37.5% |
| Net margin | 17.6% | 16.1% | 18.2% | 18.1% | 17.4% | 19.5% | 22.7% | 21.9% | 15.2% | 27.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | R$20.15B | R$22.46B | R$24.81B | R$20.85B | R$20.09B | R$22.50B | R$27.04B | R$22.10B | R$20.04B | R$20.28B | R$19.99B | R$20.32B |
| Cost of revenue | R$9.70B | R$10.88B | R$11.75B | R$10.12B | R$10.05B | R$10.95B | R$12.52B | R$10.97B | R$10.06B | R$10.06B | R$9.30B | R$10.22B |
| Gross profit | R$10.45B | R$11.58B | R$13.06B | R$10.73B | R$10.04B | R$11.55B | R$14.51B | R$11.12B | R$9.98B | R$10.22B | R$10.69B | R$10.09B |
| Sales, general & admin | R$1.33B | R$1.46B | R$1.59B | R$1.36B | R$1.43B | R$1.49B | R$1.89B | R$1.53B | R$1.45B | R$1.33B | R$1.38B | R$1.27B |
| Total operating expenses | R$5.69B | R$5.71B | R$5.66B | R$4.42B | R$5.64B | R$5.84B | R$6.99B | R$5.81B | R$5.90B | R$5.33B | R$5.09B | R$5.20B |
| Operating income | R$4.76B | R$5.87B | R$7.39B | R$6.31B | R$4.40B | R$5.71B | R$7.52B | R$5.31B | R$4.08B | R$4.88B | R$5.60B | R$4.90B |
| Interest income | R$629.3M | R$566.6M | R$48.0M | R$389.7M | R$497.5M | R$564.2M | R$20.5M | R$502.5M | R$515.4M | R$585.6M | R$882.6M | R$480.9M |
| Interest expense | R$539.6M | R$615.7M | R$846.8M | R$719.7M | R$567.9M | R$86.6M | R$137.9M | R$96.2M | R$647.0M | R$128.0M | R$397.7M | R$56.2M |
| Income before taxes | R$4.34B | R$4.93B | R$5.93B | R$5.21B | R$3.42B | R$4.86B | R$6.91B | R$4.67B | R$3.43B | R$4.48B | R$4.73B | R$4.06B |
| Income taxes | R$864.5M | R$1.05B | R$1.40B | R$350.2M | R$629.1M | R$1.05B | R$1.89B | R$1.10B | R$979.9M | R$671.2M | R$198.2M | R$44.7M |
| Net income | R$3.39B | R$3.77B | R$4.35B | R$4.75B | R$2.72B | R$3.69B | R$4.88B | R$3.46B | R$2.40B | R$3.70B | R$4.39B | R$3.91B |
| EBITDA | R$6.41B | R$7.15B | R$8.60B | R$7.53B | R$5.69B | R$7.16B | R$9.58B | R$6.98B | R$5.73B | R$6.66B | R$6.95B | R$6.41B |
| Gross margin | 51.9% | 51.6% | 52.6% | 51.5% | 50.0% | 51.3% | 53.7% | 50.3% | 49.8% | 50.4% | 53.5% | 49.7% |
| Operating margin | 23.6% | 26.1% | 29.8% | 30.2% | 21.9% | 25.4% | 27.8% | 24.1% | 20.4% | 24.1% | 28.0% | 24.1% |
| Net margin | 16.8% | 16.8% | 17.5% | 22.8% | 13.5% | 16.4% | 18.1% | 15.7% | 12.0% | 18.2% | 21.9% | 19.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in Brazilian reais as reported in ABEV's financial statements (latest annual report filed March 3, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ABEV financial results
In fiscal year 2025 (ended December 31, 2025), Ambev reported revenue of R$88.2 billion, down 1.4% from the year before. It had net income of R$15.5 billion (up 7.4%), a net profit margin of 17.6%. Over five years revenue grew at an average rate of 8.6% a year. Figures are in Brazilian reais, the currency of its financial statements.
See the ABEV stock overview for the latest quote and news, or the ABEV chart for price history and technical indicators.
ABEV income statement FAQ
What is Ambev's annual revenue?
Ambev reported total revenue of R$88.2 billion for fiscal year 2025, which ended on December 31, 2025. That was down 1.4% from R$89.5 billion the previous year.
Is Ambev profitable?
Yes. Ambev reported net income of R$15.5 billion in fiscal 2025, a net profit margin of 17.6%; its operating margin was 25.3%.
What is Ambev's gross margin?
Ambev's gross margin was 51.4% in fiscal 2025: for every $100 of revenue, Ambev kept $51 after the direct cost of its products and services.
How fast is Ambev growing?
Revenue grew 8.6% a year on average over the last five fiscal years, from R$58.4 billion to R$88.2 billion.
When will Ambev report its next earnings?
Ambev is expected to report results for the quarter ending September 30, 2026 on October 29, 2026 before the market opens.
When does Ambev's fiscal year end?
Ambev's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 3, 2026.