AMBEV S.A. vs Anheuser-Busch InBev SA/NV, two Food & Beverage stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Both companies brew and sell beer, but the market reads them differently. AB InBev earns just 8.67% on equity against Ambev's 18.01%, a sign of how much goodwill sits on the global brewer's books after decades of acquisitions. Ambev's net margin of 12.17% trails BUD's 14.29%, yet Ambev's cleaner balance sheet and higher return leave it priced at 16.59 times earnings versus 24.68 for BUD. Free cash yields sit close, 7.72% for Ambev against 6.53% for AB InBev. Size is no contest: AB InBev commands $171.9B, more than three times Ambev's $50.4B. The bigger brewer pays more for scale it already owns.
Comparison updated 2026-07-11.
| Metric | ABEV | BUD |
|---|---|---|
| Price | $3.07 | $79.60 |
| Market cap | $47.9B | $160.7B |
| Sector | Food & Beverage | Food & Beverage |
| Stage | Mature | Mature |
| P/E | 15.8 | 23.1 |
| P/B | 2.75 | 1.64 |
| P/S | 1.86 | 2.71 |
| EV/EBITDA | 9.7 | 9.7 |
| Revenue growth | +4.8% | +2.3% |
| Gross margin | 34.5% | 55.9% |
| Operating margin | 17.8% | 26.0% |
| Net margin | 12.2% | 14.3% |
| Return on equity | 18.0% | 8.7% |
| Return on assets | 11.0% | 3.9% |
| Return on invested capital | 20.8% | 11.8% |
| FCF yield | 8.1% | 7.0% |
| Debt / equity | 0.00 | 0.00 |
| Current ratio | 0.96 | 0.72 |
| Altman Z (solvency) | 4.03 | 6.77 |
| 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.