AMBEV S.A. vs British American Tobacco p.l.c., two Food & Beverage stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
British American Tobacco squeezes a 30.32% net margin from cigarettes and vapor, more than double Ambev's 12.17% on beer. Tobacco's problem is volume, not profitability: packs sell fewer each year, which is why BTI trades at just 14.13 times earnings against Ambev's 16.59. Ambev earns 18.01% on equity, BTI 16.13%, and neither carries net debt. BTI's free cash yield of 5.34% trails Ambev's 7.72%, but its $137.3B heft dwarfs Ambev's $50.4B. BTI harvests a shrinking global market for cash today; Ambev sells into a growing regional one and reinvests the proceeds.
Comparison updated 2026-07-11.
| Metric | ABEV | BTI |
|---|---|---|
| Price | $3.07 | $60.01 |
| Market cap | $47.9B | $131.2B |
| Sector | Food & Beverage | Food & Beverage |
| Stage | Mature | Mature |
| P/E | 15.8 | 13.5 |
| P/B | 2.75 | 2.15 |
| P/S | 1.86 | 4.05 |
| EV/EBITDA | 9.7 | 10.0 |
| Revenue growth | +4.8% | +0.0% |
| Gross margin | 34.5% | — |
| Operating margin | 17.8% | 39.0% |
| Net margin | 12.2% | 30.3% |
| Return on equity | 18.0% | 16.1% |
| Return on assets | 11.0% | 7.1% |
| Return on invested capital | 20.8% | 16.4% |
| FCF yield | 8.1% | 5.6% |
| Debt / equity | 0.00 | 0.00 |
| Current ratio | 0.96 | 0.87 |
| Altman Z (solvency) | 4.03 | 6.81 |
| Piotroski F (quality) | 8 / 9 | 6 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.